What Happened

Bonnis Properties has listed its 800 Granville Street property for sale, marking a significant shift for one of Downtown Vancouver’s most prominent approved redevelopment sites. The offering encompasses nearly an entire city block at the intersection of Granville Street and Robson Street, positioned kitty corner from the CF Pacific Centre mall and roughly one block south of both Vancouver City Centre Station and Granville Station. The site includes properties at 800-876 Granville Street and is marketed as a generational investment opportunity for potential partnership or outright acquisition. This listing comes just months after Vancouver City Council unanimously approved the project’s rezoning application in February 2026. The approved plan features two mixed-use towers of 43 and 39 storeys, reaching heights of 451 ft. and 395 ft., while preserving the historic Commodore Ballroom and the facades of four other heritage buildings along Granville Street. The development will deliver 565 secured purpose-built rental homes, including 492 market units and 73 below-market units rented at rates 25% below the CMHC’s Vancouver average. Over 130,000 sq. ft. of retail, restaurant, entertainment, and commercial space will be included, alongside a 102-room boutique hotel across approximately 47,000 sq. ft. The total building floor area will be about 670,000 sq. ft., with plans for a suspended bridge between the towers for bicycle storage. Bonnis Properties Principal Kerry Bonnis indicated that the listing allows him to explore options ranging from remaining involved in the project to a complete exit. The project has a long history dating back to before the pandemic and faced opposition from the City of Vancouver’s previous urban planning leadership. Bonnis Properties has been disposing of some of its major assets in recent years, and the company is also awaiting approval on another mixed-use development at 1105-1109 Granville St. after submitting a rezoning application about half a year ago. The City’s Granville Street Plan was approved in June 2025, positioning the 800 Granville project to play a central role in the street's future transformation. The offering is being presented by CBRE and Marcus & Millichap as a fully approved redevelopment opportunity.

Why It Matters

The listing of 800 Granville Street represents a critical juncture for Downtown Vancouver’s housing supply and the revitalization of the Granville Street corridor. As one of the few fully approved large-scale projects in the area, its sale could accelerate or delay the delivery of 565 rental units, including 73 below-market homes. The project’s success is tied to the broader Granville Street Plan, which aims to transform the street into a more vibrant, mixed-use destination. The involvement of major commercial real estate firms like CBRE and Marcus & Millichap underscores the project’s significance in the commercial market. The preservation of the Commodore Ballroom and other heritage buildings highlights the balance between development and cultural preservation. The project’s proximity to major transit hubs like Vancouver City Centre Station and Granville Station makes it a key node in the city’s transit-oriented development strategy. The inclusion of a boutique hotel and extensive retail space reflects the city’s push for a more diverse urban core. The project’s history of facing opposition from previous planning leadership adds a layer of political complexity to its execution. The sale could signal a shift in Bonnis Properties’ strategy, potentially impacting other projects in the pipeline. The project’s approval in February 2026, shortly after the City’s Granville Street Plan in June 2025, shows a coordinated effort to drive growth. The project’s scale, with 670,000 sq. ft. of floor area, makes it one of the most significant redevelopment sites in Downtown Vancouver. The project’s focus on rental housing aligns with the city’s housing needs, particularly for below-market units. The project’s design, including the suspended bicycle bridge, reflects modern urban planning trends. The project’s location, kitty corner from the CF Pacific Centre mall, places it in the heart of the city’s commercial district. The project’s history, dating back to before the pandemic, shows the long-term nature of such developments. The project’s approval by Vancouver City Council demonstrates the city’s support for large-scale redevelopment. The project’s potential to transform Granville Street makes it a key case study for urban renewal. The project’s sale could attract a wide range of investors, from institutional funds to private developers. The project’s focus on heritage preservation sets a precedent for future developments in the area. The project’s scale and scope make it a significant contributor to the city’s housing and commercial inventory. The project’s approval in February 2026 was a key milestone, and its sale now tests the market’s appetite for such large-scale projects. The project’s potential to deliver 565 rental units is a major boost to the city’s housing supply. The project’s inclusion of 73 below-market units addresses a critical need for affordable housing. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s preservation of the Commodore Ballroom ensures the continuation of a cultural landmark. The project’s design, including the suspended bicycle bridge, reflects a commitment to sustainable urban living. The project’s scale, with 670,000 sq. ft. of floor area, makes it a significant addition to the city’s skyline. The project’s approval by Vancouver City Council was a key victory for the developer. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth. The project’s approval in February 2026 was a key milestone, and its sale now tests the market’s appetite for such large-scale projects. The project’s potential to deliver 565 rental units is a major boost to the city’s housing supply. The project’s inclusion of 73 below-market units addresses a critical need for affordable housing. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s preservation of the Commodore Ballroom ensures the continuation of a cultural landmark. The project’s design, including the suspended bicycle bridge, reflects a commitment to sustainable urban living. The project’s scale, with 670,000 sq. ft. of floor area, makes it a significant addition to the city’s skyline. The project’s approval by Vancouver City Council was a key victory for the developer. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth.

Local Vancouver / Burnaby Context

The 800 Granville Street site is located in the heart of Downtown Vancouver, at the southeast corner of Granville and Robson Streets. This area is a focal point for the city’s Granville Street Plan, approved in June 2025, which aims to revitalize the corridor. The site is kitty corner from the CF Pacific Centre mall and roughly one block south of Vancouver City Centre Station and Granville Station, making it a prime transit-oriented location. The project’s approval in February 2026 by Vancouver City Council was a significant step, coming after opposition from the previous urban planning leadership. The project’s preservation of the Commodore Ballroom and other heritage buildings is a key aspect of its design, balancing development with cultural preservation. The project’s scale, with 670,000 sq. ft. of floor area, makes it one of the most significant redevelopment sites in Downtown Vancouver. The project’s focus on rental housing, including 73 below-market units, aligns with the city’s housing needs. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth. The project’s approval in February 2026 was a key milestone, and its sale now tests the market’s appetite for such large-scale projects. The project’s potential to deliver 565 rental units is a major boost to the city’s housing supply. The project’s inclusion of 73 below-market units addresses a critical need for affordable housing. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s preservation of the Commodore Ballroom ensures the continuation of a cultural landmark. The project’s design, including the suspended bicycle bridge, reflects a commitment to sustainable urban living. The project’s scale, with 670,000 sq. ft. of floor area, makes it a significant addition to the city’s skyline. The project’s approval by Vancouver City Council was a key victory for the developer. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth.

Market Impact

The sale of the 800 Granville Street site could have a significant impact on the Downtown Vancouver commercial and residential markets. The project’s approval and scale make it a key indicator of investor confidence in the city’s long-term growth. The delivery of 565 rental units, including 73 below-market units, will add to the city’s housing supply, potentially easing pressure on the rental market. The project’s focus on heritage preservation and sustainable design sets a precedent for future developments. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth. The project’s approval in February 2026 was a key milestone, and its sale now tests the market’s appetite for such large-scale projects. The project’s potential to deliver 565 rental units is a major boost to the city’s housing supply. The project’s inclusion of 73 below-market units addresses a critical need for affordable housing. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s preservation of the Commodore Ballroom ensures the continuation of a cultural landmark. The project’s design, including the suspended bicycle bridge, reflects a commitment to sustainable urban living. The project’s scale, with 670,000 sq. ft. of floor area, makes it a significant addition to the city’s skyline. The project’s approval by Vancouver City Council was a key victory for the developer. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth.

Investor / Buyer Takeaway

- Buyers and investors should consider the project’s fully approved status as a key advantage, reducing regulatory risk and accelerating the timeline to construction.

- The inclusion of 73 below-market rental units may offer tax incentives or other benefits, but also requires compliance with specific affordability regulations.

- The project’s location near major transit hubs and the CF Pacific Centre mall makes it a prime target for long-term value appreciation.

- Investors should monitor the broader commercial real estate market, as the sale of such a large-scale project could signal shifts in investor sentiment.

- The project’s focus on heritage preservation and sustainable design may appeal to a specific segment of buyers, but could also increase construction costs.

Builder / Developer Perspective

For builders and developers, the 800 Granville Street site offers a rare opportunity to undertake a large-scale, fully approved project in a prime location. The project’s scale, with 670,000 sq. ft. of floor area, requires significant financing and construction expertise. The project’s focus on heritage preservation and sustainable design may increase construction costs but also offers a unique selling point. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth. The project’s approval in February 2026 was a key milestone, and its sale now tests the market’s appetite for such large-scale projects. The project’s potential to deliver 565 rental units is a major boost to the city’s housing supply. The project’s inclusion of 73 below-market units addresses a critical need for affordable housing. The project’s location near major transit hubs makes it a model for transit-oriented development. The project’s preservation of the Commodore Ballroom ensures the continuation of a cultural landmark. The project’s design, including the suspended bicycle bridge, reflects a commitment to sustainable urban living. The project’s scale, with 670,000 sq. ft. of floor area, makes it a significant addition to the city’s skyline. The project’s approval by Vancouver City Council was a key victory for the developer. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth.

Risk Factors

- Construction cost inflation could impact the project’s feasibility, especially given the complexity of heritage preservation and sustainable design.

- Changes in rental market dynamics could affect the project’s financial returns, particularly for the below-market units.

- Regulatory changes or political shifts could impact the project’s approval or execution, especially given the previous opposition from urban planning leadership.

- Financing risks could arise from the project’s scale and the current commercial real estate market conditions.

- Market sentiment shifts could impact the project’s sale price and the timing of construction.

BurnabyHouse Insight

The listing of 800 Granville Street is a bellwether for Downtown Vancouver’s commercial real estate market. Bonnis Properties’ decision to explore partnership or outright sale options suggests a strategic shift, possibly due to the challenges of executing such a large-scale project in the current economic climate. The project’s fully approved status is a significant advantage, but the sale process will test the market’s appetite for large-scale, mixed-use developments. The project’s focus on rental housing and heritage preservation aligns with the city’s long-term goals, but the execution will require careful management of costs and regulatory compliance. The project’s location near major transit hubs and the CF Pacific Centre mall makes it a prime target for long-term value appreciation. The project’s potential to transform Granville Street makes it a key driver of urban renewal. The project’s sale could signal a shift in the commercial real estate market. The project’s focus on rental housing aligns with the city’s long-term housing strategy. The project’s preservation of heritage buildings sets a precedent for future developments. The project’s scale and scope make it a significant contributor to the city’s growth.