GWL Realty Advisors has acquired a redevelopment site in Vancouver’s West End through a court-ordered sale.

The property is located at 1555 Robson Street, next to a development site at 1525 Robson purchased by a GWLRA investor client. GWLRA is now looking to develop two purpose-built residential rental towers and retail space with the client in one merged site.

“We are excited about the opportunity to combine 1555 Robson with our client’s neighbouring ownership position,” said Steven Marino, GWLRA’s executive vice-president of portfolio management, in a news release. “The combined site represents a rare, scaled opportunity in one of Canada and North America’s most attractive and dynamic markets.”

The two addresses encompass 0.77 acres altogether and have a right of zoning to accommodate about 400 purpose-built rental housing units.

The 1525 and 1555 Robson sites are directly across the street from GWLRA’s Chronicle purpose-built rental housing project, which contains 128 apartments and street-level retail spaces. Chronicle is being finalized this year with retailers slated to move in during the summer.

In 2023, GWLRA completed the 159-unit Bowline purpose-built rental housing development in in North Vancouver.

Rendering: Courtesy of GWL Realty Advisors