A major part of downtown Vancouver is set to undergo a massive transformation.
Cadillac Fairview, the owner of the CF Pacific Centre Mall, says it plans to redevelop the former Nordstrom store and demolish and replace the 25-storey former Four Seasons Hotel.
Cadillac Fairview explains the redevelopment will include a “new modern and efficient tower that will compliment our world-class shopping center and surrounding office complexes.”
“Cadillac Fairview is proud of its legacy of owning and operating the best-in-class properties in all of the communities it serves. As part of that legacy, Cadillac Fairview is committed to ensuring that CF Pacific Centre remains the pre-eminent destination of choice in Vancouver for locals and visitors alike,” the corporation shared in a statement with 1130 NewsRadio on Friday.
The move comes after years of speculation regarding the former Nordstrom site, when the major U.S. retailer closed its doors in Canada for the final time in June 2023. Rumours circulated that La Maison Simons, or French retailers Galeries Lafayette or Printemps could have moved into the massive 220,000 square foot space.
The closure of the 13 Canadian stores resulted in major layoffs, with around 2,500 jobs being axed nationwide. Prior to Nordstrom, the downtown Vancouver space was occupied by two other department stores: Eaton’s, then Sears.
After the eight-level Sears closed in 2012, Cadillac Fairview undertook a massive renovation of the space, retrofitting it to become a new mixed-use building.
Meanwhile, the Four Seasons Hotel has sat empty for the last four years after closing just weeks before the COVID-19 pandemic began in January 2020.
The closure halted the hotel’s more than 40-year run, with Cadillac Fairview explaining at the time that it was in negotiations with other high-end hotel operators as replacements.
“Cadillac Fairview’s plans for the new tower are aimed at bringing exciting uses to the centre, which would continue to include a hospitality offering. Cadillac Fairview looks forward to sharing more details about these transformative redevelopment projects in the future,” the property management company stated.
However, whatever it is that Cadillac Fairview wants to redevelop the sites into will need to be signed off on by the City of Vancouver.
source & photo: CityNews
