Vancouver developer Peter Wall, the founder of Wall Financial Corporation, has died.

His controlling stake in the company, amounting to 54% of its outstanding common shares, will be transferred to the Peter Wall Legacy Trust, which will oversee the assets through a governance structure comprising three trustees, the company announced.

Wall, a Ukrainian immigrant of Mennonite heritage, co-founded Wall & Redekop with Peter Redekop in 1969 before establishing Wall Financial, which became a leading developer of residential and hospitality properties in Vancouver. The company has delivered more than 30,000 homes, including about 15,000 multi-family rental units, and operates two major hotels: One Wall Centre in downtown Vancouver and Wall Centre Richmond in Richmond, B.C.

The two hotels have a combined total of approximately 1,000 rooms as well as large meeting spaces and retail premises.

Beyond real estate, Wall was a significant benefactor to arts, culture, and academia. He contributed $15 million to the University of British Columbia in 1991 to establish the Peter Wall Institute for Advanced Studies and later created the Peter Wall Legacy Awards, a $4-million annual grant program. His philanthropic efforts extended to the revitalization of cultural venues, including the Orpheum and York theatres, and his passion for thoroughbred racing led to his acquisition of the Hastings Racecourse business located on the city-owned Pacific National Exhibition grounds.

Wall Financial stated that it remains committed to advancing the founder’s vision and legacy in Vancouver’s development landscape.

Pictured: Peter Wall, the late founder of Wall Financial, standing outside the One Wall Centre in downtown Vancouver.

Photo: CNW Group/Wall Financial