Vancouver Hotel Purchase Prices Available


May 4, 2007
May 4th, 2007

VANCOUVER – The Province announced the purchase of 10 Single Room Occupancy (SRO) hotels with 595 rooms in Vancouver on April 3, 2007. These hotels were purchased to preserve and upgrade an important source of affordable housing stock in Vancouver for people at risk of homelessness.

Over the past month, the Province has assumed full ownership of nine of these hotels, and as a result, information on the purchase prices can be released.

Hotel

Address

Rooms

Asking Price

Purchase Price

Marble Arch

518 Richards St.

145

$8.9 million

$8.0 million

St. Helen’s Hotel

1161/63 Granville St.

98

$7.98 million

$7.5 million

Walton Hotel

261/265 E. Hastings St.

51

$2.65 million

$2.3 million

Orange Hall

329/341 Gore Ave.

27

$4.65 million

$4.1 million

Molson’s Bank Building

166 E. Hastings

45

$2.35 million

$2.35 million

Park Hotel Apartments

429/433 W. Pender St.

56

$3.7 million

$3.5 million

Carl Rooms

335 Princess St.

47

$2.25 million

$2.05 million

Orwell Hotel

456 E. Hastings St.

55

$3.1 million

$2.95 million

Savoy Hotel

258/260 E. Hastings St.

28

$1.85 million

$1.79 million

The Rice Block

404 Hawks St.

43

$2.9 million

$2.59 million

Total

 

 

595

$40.33 million

$37.13 million

 

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