The AC Marriott hotel slated to rise up as the first project in the Terminal One redevelopment has moved to the final stages of prep. A Columbian article showed an updated rendering of the project that is slightly scaled back from the 9 story 160 room concept to a 7 story 150 room hotel.
Vancouver based Vesta Hospitality is contracted to manage the project. Details released in the article say that the hotel will not have a rooftop restaurant after all. They cited the abundance of restaurants going in next door at Vancouver Waterfront for deleting that from the plans. Hmm, I don’t think you can have too many rooftop restaurants 😉
The ground needs to be shored up to meet earthquake standards so roughly $3 million is set aside to begin ground prep. The project nearly died due to increasing costs associated with the construction and the aforementioned ground work. However, the recent tax changes and Vancouver’s decision to include Terminal One in an opportunity zone led to the numbers penciling out again.
The Hotel should break ground later this year with hotel operations beginning in the first half of 2021. There is a flurry of urban hotel rooms going into both Downtown and the Waterfront, but that new area is already becoming quite the tourist attraction and that is only going to get better as the development continues to expand.