Landmark West End hotel headed for wrecking ball

The Empire Landmark hotel has been a West End icon in Vancouver since it went up in 1973. It’s 42 storeys, thin and has a nifty revolving restaurant/bar on top that offers breathtaking views.

But it also sits on a full block in the 1400-block of Robson Street, in the middle of a neighbourhood that’s being transformed into a forest of luxury highrises. And it looks as if the 43-year-old structure will be coming down for a new condo development.

Plans went up on the city of Vancouver’s website Friday for two towers in the 1400-block — one 28 storeys high, the other 30.

The towers would be about 100 metres high, which is almost 25 per cent shorter than the existing building. But with high-end condos going for up to $1,800 per square foot in the neighbourhood, the redevelopment would probably be far more lucrative than running the current 357-room hotel.

The site is owned by 1488 Robson Holdings Ltd., whose directors have the same address as the Hong Kong-based Asia Standard Hotel Group. Property records showed it sold in April for $46,528,000. It has had Hong Kong owners since 1997.

Heritage expert Don Luxton isn’t surprised the Landmark might be redeveloped. “We’re watching this happen all over the city,” he said. “The new frontier for developers is stratas and 1970s buildings. They’re buying them up all over the place and looking to tear then down, because they’re often underbuilt for zoning potential.”

“It’s actually a very slender floor plate,” said Luxton.

“It’s tall, but there’s not that much square footage. And seismically [1970s buildings] are not anywhere near what they need to be. So you look at upgrading these buildings and it costs a fortune — it’s easier to tear them down.”

There has been a lot of speculation about what effect the provincial government’s new 15 per cent tax on foreign ownership will have on the condo market. But Luxton doesn’t think it will be much of a deterrent to rich foreign buyers willing to spend $2 million for a pied-a-terre.

“At those prices, a 15 per cent tax is nothing. It’s lunch money.”