Dundee and Partners to Build $480 Million Vancouver Urban ResortKatia Dmitrieva
Dundee Corp. is teaming up with private developers to build an entertainment resort in downtown Vancouver in what will be British Columbia’s largest private development.
The C$600 million ($480 million) “parq” complex, which will include the city’s biggest hotel convention space, luxury hotels and a casino, is being built by Parq Holdings Limited Partnership, a joint venture between Dundee, Paragon Development Ltd., and PBC VUR Ltd, the companies said in a statement.
The hotels on the property will be managed by Marriott International Inc.
The property “will not only reinvigorate part of downtown Vancouver, but also provide visitors and residents with an entertainment destination that rivals the best anywhere,” said Scott Menke, president of Paragon Development.
Construction is under way on the site, which will also feature a spa, the province’s first JW Marriott hotel, and the city’s largest ballroom. The complex will be about 775,000 square feet, located beside BC Place Stadium, which is soon hosting the FIFA women’s world cup.