Quick Facts:
· The facility occupies a full city block, 1.2-hectare property
· Was built in 1958 at a cost of $13 million.
· A story in The Vancouver Sun in 2007 reported the property could be worth as much as $60 million;
· The 54-page memo from CBRE – the broker handling the sale of the mail-processing plant – notes that high-profile luxury retailers are looking for ways to get into Vancouver’s tightly packed downtown;
· According to information being traded among the city’s tightly connected network of brokers, developers and marketers, there are already roughly 20 companies and pension funds interested in the site, including the budget retailer Target;
· The city has the discretion to allow buildings as high as 450 feet in the downtown. But the Canada Post site won’t be allowed to go higher than 225 feet for most of the block, except for one slice at Georgia and Homer that could go as high as 285 feet, because of limits imposed by the city’s policy on protecting views of the North Shore mountains.
· The facility was described as a “Taj Mahal with elevators” when it opened in 1958.
· The building, which still has a functioning post office in front, is notable for its grand colonnade facing Georgia Street, terracotta tiles, terrazzo floor in the lobby, intricate aluminum work.
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