St. Paul’s Hospital has been sold for close to a billion dollars
Yesterday, the group that owned St. Paul’s Hospital in downtown Vancouver announced that it had been sold for close to a billion dollars to the developer Concord Pacific. And although massive, the sale will go towards the construction of a new hospital, while still providing care at St. Paul’s.
Basically, Concord Pacific is going to leave St. Paul’s as-is for ‘several years’. Meanwhile, the proceeds of the sale will go towards the construction of the new St. Paul’s at the Jim Pattison Medical Centre in False Creek. That actually covers just under half of the price tag, so it’s a pretty big piece of the puzzle.
We’re excited to announce the official sale of the Burrard Street property, the current home of St. Paul’s Hospital, to Concord Pacific. Bringing nearly $1 billion to help build a better future for our communities. https://t.co/BsNSJSMtD4 pic.twitter.com/IV45dRWvgn
— Providence Health Care (@Providence_Hlth) August 12, 2020
Concord Pacific hasn’t released details about the future of the site. But, they do already have a mall downtown, so we’re thinking that a new residential building is in the cards. Only time will tell, though! Personally, we can’t wait to see another crazy rendering for downtown Vancouver.
To learn more about the sale and the future of St. Paul’s, just click here.