A downtown Vancouver landmark is about to get a major facelift.
The redevelopment plan for the Hudson’s Bay building includes the creation of one million new square feet of office space, while still preserving the building’s heritage facade.
Built in 1927, the building’s redevelopment is about preserving the old while keeping up with the times. The landmark’s exterior will stay the same, according to Hudson’s Bay Company (HBC) and RioCan Real Estate Trust. The drastic transformation will happen from within and above.
A one million square foot office tower, a newly reimagined retail space and a new Green Mobility transportation hub are all part of the new design.
“The way consumers live, work and shop is changing rapidly and HBC is committed to evolving to reflect these shifts, while unleashing the full value of our prime properties and reinvigorating the urban districts in which they are situated,” said Ian Putnam, president and CEO, HBC Properties and Investments, said in a release.
As for the Hudson’s Bay store itself, which is currently six floors of shopping, that will be downsized and converted into retail and restaurant space.
As the building sits on the traditional and unceded territories of the Musqueam, Squamish and Tsleil-Waututh First Nations, the two companies said they are “committed” to working with local First Nations for their direct involvement in the project.
“Transformation of the iconic property meets evolving consumer and office user expectations,” Putnam said.
“This highly attractive site located at the nexus of Vancouver’s major transit, bike and traffic routes in the heart of downtown Vancouver will be revitalized and expanded with resilient and forward-thinking amenities that will drive value creation for the long-term.”
The reconfiguration includes improved access from the building to the Granville SkyTrain station, the Vancouver-City Centre Canada Line station, local bus routes, a new underground indoor bike hub able to store up to 1,500 bicycles, and new public pedestrian walkways, the companies said in a statement.
The cost of the project is not being released at this time.
If it all goes as planned, the building will be revamped by 2027.