Demolished Main Street building was purchased by B.C. government in 2020 as part of $18M deal
Posted October 21, 2023 9:07 pm.
Last Updated October 22, 2023 3:43 pm.
A building that began crumbling Friday and was demolished later that day was part of a $17.9 million purchase by the B.C. government three years ago through the Supportive Housing Fund, according to a government media release published online June 29, 2020.
The building, whose facade had started collapsing Friday, leading to the demolition and causing a road closure that lasted several hours, was located at 928 Main Street, according to Vancouver Fire Rescue Services. However, images of the facade collapse posted online appear to be on a building listed as 938 Main Street on BC Assessment, next door to 928. The 2020 purchase was for both 928 and 938 Main Street.
928 Main Street is the site of the former American Hotel and now houses The American Bar, while 938 Main appeared to have been unoccupied.
According to the release, 42 units in the buildings were intended for supportive housing and were set to eventually be redeveloped to create rental housing.
“Current tenants will be able to remain at the American and will have access to the supportive services, as needed,” the 2020 release said. “Over time, as existing tenants choose to leave and units become vacant, they will be occupied by new residents ready to leave supportive housing and live more independently.”
At the time, the government said the building would be managed by BC Housing.
According to BC Assessment, the value of 928 Main Street as of July 1, 2022, was $8.2 million. 938 Main was assessed at almost $4 million, for a total of just over $12 million for both sites.
