City of Vancouver
Vancouver’s Chinatown is a neighbourhood in transition. Recent and upcoming mixed-use residential developments continue to signal a socio-economic shift towards a younger and more affluent demographic. Although Chinatown Plaza is centrally located in a key part of the neighbourhood experiencing significant nearby growth, in its existing state it has a high vacancy rate and is a largely underutilized and underperforming cultural and economic asset. The City of Vancouver, the Chinatown BIA, and numerous community stakeholders wished to balance financial viability and sustainability while ensuring the facility could remain a community-building asset for years to come.
Scope of Services
Colliers was engaged by the City of Vancouver to conduct a comprehensive remerchandising and placemaking strategy for Chinatown Plaza. The intent of the study was to recommend a desirable retail strategy to ensure the City leverages the opportunity within the site, remains competitive, and realizes the City’s mandate to preserve real value and generate economic and social return for generations to come.
Balancing creative placemaking interventions with a number of new tenant mix scenarios, the City of Vancouver and relevant stakeholders made an informed decision to pursue a remerchandising strategy that is financially sustainable and culturally appropriate. The strategy adopted should result in a contextually sensitive public asset that supports Chinatown residents, creates a unique destination, and remains financially sustainable.
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