A prime development site in Vancouver’s Gastown has been listed for $6.5 million, with plans for what could become the neighbourhood’s first purpose-built boutique hotel.

Global commercial real estate advisor Avison Young and Vancouver-based Corbel Commercial Real Estate Services announced the offering of 80 Powell Street, located near the corner of Powell and Columbia streets in the heart of Gastown.

The brokers describe the property as a rare opportunity for investors and hotel operators to develop a signature hospitality project in one of Vancouver’s most historically significant and culturally vibrant districts. Gastown is Vancouver’s oldest district, dating back to the 1880s.

“This future hotel is strategically located minutes from the Vancouver cruise ship terminal, ideally positioned to capture growing international tourism demand,” said Bijan Lalji, a senior associate with Avison Young’s capital markets group. “It would also appeal to business travellers drawn to Gastown’s technology firms, design studios, architectural practices, galleries, retail boutiques, and leading culinary destinations.”

The proposed project envisions a 13- to 14-storey boutique hotel with approximately 100 to 110 guest rooms spanning 63,000 to 65,000 square feet, along with one level of underground parking.

Plans also call for a 3,300-square-foot rooftop restaurant featuring a retractable glass wall system opening onto a patio, designed to offer panoramic views of the waterfront, Burrard Inlet and the North Shore mountains.

Pictured: Vancouver’s Gastown district.

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