Understanding the Contract of Purchase and Sale – Residential

The 1500 block of Robson Street in downtown Vancouver’s West End neighbourhood will see a substantial uplift through a new mixed-use rental housing project with substantial commercial retail uses. The City of Vancouver’s Development Permit Board recently approved GWL Realty Advisors’ (GWLRA) application to redevelop 1525-1555 Robson St. — nearly the entirely city block at the northeast corner of the intersection of Robson and Cardero streets. Building Permit Applications were subsequently submitted in May 2025 to demolish the 1949-built, two-storey commercial building on the west side (1525 Robson St.) of the development site — formerly home to Jang Mo Jib Restaurant. The development site also includes the 1965-built, six-storey office and retail building mid-block, on the east side (1555 Robson St.) of the site. Designed by architectural firm Arcadis, there will be two high-rise towers reaching 324 ft. with 28 storeys and 318 ft. with 29 storeys, generating 393 secured purpose-built market rental homes — including 100 studio units, 179 one-bedroom units, 101 two-bedroom units, and 13 three-bedroom units. The two-storey base podium would be dedicated to commercial uses totalling about 41,000 sq. ft. including a 24,400 sq. ft. grocery store — largely located on the second level, with entrance located at the intersection corner — and about 16,600 sq. ft. of smaller commercial retail/restaurant units, which would activate the building’s ground level with Robson Street. Site of 1525-1555 Robson St., Vancouver. (Google Maps) Site of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) During the Development Permit Board meeting, Matt Shillito, the City of Vancouver’s director of special projects, called this project “much needed” for its significant infusion of rental housing, and highlighted the new major retail uses “along a stretch of Robson that’s looking pretty tired.” “I think it achieves a lot on a relatively tight site. In terms of the architectural approach, I think it’s very thoughtful. I like the nice kind of compact tower floor plates. I like the way the podium has been kept low profile, nice clean lines, and it manages the slope very efficiently, very effectively,” said Shillito. “I like the way the podium has been kept low profile, nice clean lines, and it manages the slope very efficiently, very effectively. With the CRUs at the ground level and then the grocery store above, it’s all neatly housed.” Lon LaClaire, general manager of engineering services for the City of Vancouver, added, “These services are going to be welcome in the area, and I think that the new building is going to be a really great addition to the area.” But Shillito, while also acknowledging that this is a subjective matter, suggested that the development team should consider the possibility of providing the facade design with a lighter tone, as opposed to the current concept using “very dark” materials, which creates a look that is “a little heavier than it otherwise could be.” The development permit application was the project’s first and primary approval, as a rezoning application was not necessary, given that the project aligns with existing policies for the site. October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) Most of the discussion over this application during the meeting focused on the dedicated freight/truck loading space required for the commercial uses, particularly the grocery store. The panel ultimately agreed that the larger and more intensive requirement of Class C loading — creating designated loading space for a large semi-trailer — would not only be unnecessary for a mid-size grocery store, but also challenging given the tight urban environment. Furthermore, similarly-sized grocery stores integrated into high-density, mixed-use developments in and around downtown Vancouver only have Class B loading spaces, which accommodate smaller single-unit trucks and other medium-sized vehicles. For this reason, the panel agreed to only require a small increase in Class B loading capacity. With the existing Safeway and Whole Foods Market situated on the city blocks just to the west, this would be the third grocery store in Lower Robson. Four underground levels would contain over 250 vehicle parking stalls, including 198 stalls for rental housing residents, 20 stalls for residential visitors, and 33 stalls for commercial uses. This is in addition to over 600 secured bike parking spaces. The total building floor area is pegged at about 324,000 sq. ft., establishing a floor area ratio density of a floor area that is 9.6 times larger than the size of the 33,600 sq. ft. development site. This project falls under the City’s West End Community Plan. 2024 preliminary conceptual artistic rendering of the redevelopment with two towers at the combined site of 1525-1555 Robson St., Vancouver. (GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) GWLRA is the real estate investment subsidiary of the Great-West Life Assurance Company, which is one of Canada’s largest private insurance firms. In March 2024, GWLRA acquired the 16,400 sq. ft. site of 1555 Robson Street from VivaGrand Developments in a deal worth $58 million, according to records. This purchase enabled GWLRA to form a land assembly with its September 2022 acquisition of the similarly sized adjacent site at 1525 Robson St.