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Stanley Kwok was a force in developments from Hong Kong to Vancouver
Stanley Kwok didn’t move to Vancouver until he was 41. But he made up for lost time, becoming one of the key players in the redevelopment of the city.
He was president of B.C. Place in the mid-1980s, served on the board of Expo 86, then was part of Concord Pacific’s successful bid to purchase and redevelop the Expo Lands.
“Li Ka-shing would not have won that bid without Stanley’s involvement,” said planner and developer Michael Geller. “And of course, the rest is history, because Li’s decision to buy that property not only resulted in the redevelopment of the north shore of False Creek, it really led to all of the significant Asian investment in Vancouver.”
“He was almost 100 years old,” marvels architect James Cheng. “Amazing. (He still had) all his faculties. His body gave up on him, but not his brain.”
Metro Vancouver’s focus post-Expo on high-rise condos was often controversial. But Kwok was unapologetic for the way much of the city changed from single-family houses to towers.
“Why stick to the past?” he said to Doug Todd of The Vancouver Sun in 2023.
Stanley Tun-Li Kwok was born on Jan. 2, 1927, in Shanghai, China.
“He was born in the most interesting, turbulent time in China,” said Cheng. “That was right after the revolution (in 1911). The warlords were fighting each other, and Chiang Kai-shek and Mao Zedong were killing each other.
“Yet he was able to go to St. John’s College, which was the first and only English-speaking University in China at the time, in Shanghai. And then he graduated with an architectural degree. He’s one of the first people in China (to have an architectural degree).”
In 1949, Mao’s Communists took over China, and Kwok fled to Hong Kong, where he became a successful architect, designing over 200 buildings and becoming president of the Hong Kong Society of Architects.
Stanley Kwok in 2023, when he was 96. Photo by Douglas Todd
But he was worried about the future for his family, and moved to Vancouver in 1968. In Canada, he focused on development rather than architecture, where he could use his knack for seeing the big picture.
“I think he could see the big picture all his life,” said Cheng. “He was not hung up with, ‘I have to be an architect,’ or ‘I have to do this, I have to do that.’ I think he had enough confidence in himself that he could see the bigger picture, that he can change with the times.”
He started off with Grosvenor International in Canada, and in 1984 was named president of B.C. Place by the provincial Social Credit government. The original concept was to sell off the north side of False Creek bit by bit, but in 1987 the Socreds decided to sell it as one project.
Kwok knew Hong Kong billionaire Li Ka-shing, and left the government to become part of the Concord Pacific bid and development.
“He was the perfect guy, because he had the Hong Kong contacts,” said Geller. “While many people regret what has happened, I think it is important to remember that back in the 1980s, we were all quite flattered and thrilled that someone of Li’s stature would want to invest in our city.”
Concord-Pacific’s current President and CEO Terry Hui said “Stanley’s early work at the start of the False Creek project provided a strong foundation for what followed. His contribution is appreciated and remembered.”
Having been president of B.C. Place, Kwok knew about the soil contamination from the former industries on the Expo lands. So Geller said Kwok inserted a clause in the Expo deal that “the province would look after the site remediation,” which may have amounted to tens of millions of dollars.
“He was very creative and a very decent guy, but he was very sharp, very sharp, very shrewd,” said Geller.
The tall, slender towers on the Concord lands became the blueprint for much of the city. The waterfront seawall also became a city staple.
The redevelopment brought him international attention.
“If you go to Dubai, there’s a development called Marina City, which is a kind of a copy of the north shore of False Creek, right down to identical balcony rail details along the waterfront,” said Geller. “Stanley Kwok was instrumental in that project as well.”
Kwok is survived by his wife of 35 years, Eva Lee Kwok, and his children Jing Hun, Joanne, Marianne, and Colin. He was predeceased by two earlier wives.
28-10-2025 -
New plan from MST Nations and Aquilini Development would see tallest tower heights rise from 28 storeys to 46 storeys
Three years after Vancouver city council approved a new 16-building, 2,600-home neighbourhood on the 8.5-hectare Heather Lands property, the Indigenous-led development consortium behind the project is aiming to significantly scale up the size and density.
The Musqueam, Squamish and Tsleil-Waututh Nations, collectively known as the MST Nations and working in partnership with Aquilini Development, have applied to update and replace the previous 2022 rezoning, looking to increase the heights of the tallest buildings from 28 to 46 storeys and boost the number of homes by 60 per cent, from 2,612 units to 4,250.
The Heather Lands property, between West 33rd Ave and West 37th Ave along Heather Street, is the former site of the RCMP’s “E” Division headquarters. The property was acquired by Canada Lands Company in 2014 as part of a joint venture with the MST Nations.
No one from the developer was available for an interview Wednesday. In an emailed statement, the partnership of the MST Nations and Aquilini Development said: “The new rezoning application demonstrates the commitment of the MST Nations and their partners to providing innovative solutions to the housing crisis through the sharing of their land, and providing significant community amenities and benefits.
“The overall vision for the Heather Lands remains unchanged — an inspiring, progressive and sustainable new neighbourhood that welcomes and connects people of all cultures, celebrates and shares the traditions and values of the MST Nations, and provides economic and social benefits for MST Nations’ community members,” the statement said.
28-10-2025 -
City of Richmond is holding an information session on Oct. 28 where residents will be able to ask questions
Along a rural stretch of No. 6 Road in south Richmond, residents have a lot of questions — not to mention fear — after a B.C. Supreme Court ruling granted the Cowichan Tribes on Vancouver Island land title rights that encompass their properties.
Judy Kutny is one of them.
She is not happy about the ruling and wants to know how it’s possible there is now uncertainty over the title to her family’s land.
“It’s scary,” says Kutny, standing on the doorstep of the home she has lived in for 35 years.
Her initial response to the idea that somebody might have some right to her property is blunt.
“I don’t think so,” she says.
The court ruling released in August found that the Cowichan Tribes of Vancouver Island had Aboriginal title to a portion of land that was once a summer fishing village along the Fraser River in what is now south Richmond, as well as fishing rights.
The judge said the Cowichan had rights to about half the 7.5 square kilometres it had claimed. The Cowichan are appealing the ruling on the grounds they are entitled to the other half.
The ruling by Justice Barbara Young notes the Cowichan did not seek a declaration that private titles in the area were “defective and invalid.” The bulk of their successful claim was focused instead on city and federal lands, including the Vancouver-Fraser port lands.
25-10-2025 -
here are signs that the trend could start to taper off as developers pull more projects off the market or convert them into rentals
The number of completed, empty and unsold condos and townhomes in Metro Vancouver continued to climb in the third quarter of 2025, according to new data.
But there are signs that this trend could start to taper off as developers pull more projects off the market or convert them into rentals.
“Historically, most launched condo projects across Metro Vancouver have proceeded and were ultimately built to completion, so in previous years we could analyze inventory across all construction stages with almost full certainty that they would complete construction,” said Jon Bennest, vice-president of product development at Zonda Urban, which tracks real estate data.
“Today, we are not fully certain of that, so we need to assess those numbers with the assumption that some actively selling projects today may not achieve their presale requirements and/or may be converted to rental in the future.”
Zonda Urban said Tuesday that there were 3,745 empty and unsold condos and townhomes in Metro Vancouver at the end of the third quarter, up from 3,215 at the end of the second quarter, and 2,304 at the end of the first quarter. By comparison, the number of completed and unsold condos during the same period in 2019 was around 500.
The third quarter, however, also saw a decline in the overall number of condos launched or released in Metro Vancouver by developers — units in the pre-construction phase to completed products.
There were 3,745 empty and unsold condos and townhomes in Metro Vancouver at the end of the third quarter. Photo by Jason Payne /PNG
At the end of the first quarter, the total inventory was 16,444. This went up again at the end of the second quarter to 16,589. But, by the end of the third quarter, the number fell to 14,998, according to Bennest. Still, those numbers are relatively high compared to the 10-year average of 7,567.
Some examples of projects that have been pulled include Thind’s District Northwest project in Surrey, which was to have 933 units, and Brivia’s Curv project in downtown Vancouver, which was to have around 500 units and is in receivership.
“The feasibility of presale condominium projects is, in some cases, being put into question. Most notably, concrete, highrise projects that require significant presale adoption to get construction financing. These projects take a lot of time to get built so they inherently rely on investors who are OK with a longer completion timeline,” said Bennest.
He added that costs haven’t come down enough to allow homebuilders to decrease pricing without losing money, so the result is more projects being shelved or converted to rental, where they can potentially get construction financing without pre-selling a certain number of units.
There has been a lot of interest and scrutiny over the extent and momentum of the glut of unsold condos across Metro Vancouver, and if and how the development industry and government policy should react.
It comes as investors, who once were motivated to buy presale units because they expected the value of these to increase, are putting their cash elsewhere.
This is happening even though developers have been more focused on building condos that specifically appeal to investors’ desires for smaller layouts, which yield higher return-on-investment rates.
The result is a landscape of more empty and unsold units overall, especially in highrise, concrete buildings.
While there is definitely more choice in the market for prospective buyers of new condo units now, this might not be the case in three to five years as fewer of these projects will be built, said Bennest.
For sellers watching projects get shelved or converted to rental, it’s a sign that, in some locations, it may take a while to get back to the demand and prices seen in 2021 and early 2022, he said. In order to be successful in selling units, owners have to understand their position in the market and price accordingly to attract buyers, he said.
Vancouver has been, and will likely continue to be, more expensive to rent in than in most other major Canadian cities, but there are a growing number of purpose-built rental projects and some incentives for renters, said Bennest.
Based on the third-quarter data, Zonda will be revising its projected year-end totals — for both total inventory and completed, unsold, empty units — to be lower than what had been anticipated, said Bennest.
He added that if some projects are being shelved or converted to rental, it means fewer condos will be built and this will “put a cap on standing inventory levels rising a few years out (such as) in 2028 and onward.”
23-10-2025 -
Owner also seeks to sell New Westminster property as financial pressures mount
Just a few years after being restored and transformed, the iconic Victoria Press Building has been placed under receivership, according to B.C. Supreme Court filings obtained by Western Investor.
Originally constructed in the early 1970s, the Victoria Press Building is a two-storey warehouse-size building located at 2621 Douglas Street (2615 Douglas Street, legally). The building’s name reflects its history as the long-time headquarters of the Times Colonist newspaper prior to its 2017 sale to Victoria-based private equity real estate investment firm Merchant House Capital.
Upon acquiring the building, Merchant House said it intended to undertake the “restoration and reconfiguration of the iconic newspaper building into an urban campus-style mixed-use environment, featuring street level retail and 120,000 square feet of large floor-plate office.” The project also saw the Print Reel Building that housed the newspaper’s printing presses transformed into a distillery and tasting room.
The revitalization portion of the project was completed a few years ago, but Merchant House was also planning a 12-storey rental building with 160 units on the surface parking lot behind the Victoria Press Building, calling it “the final step in realizing a comprehensive vision to redevelop the entire property” in a 2023 letter to the City outlining the project.
For the project, Merchant House Capital secured a first-ranking mortgage in July 2020 for the principal amount of $48.75 million from Timbercreek Mortgage Servicing Inc. — an affiliate of Timbercreek Financial Corp., which later assigned its interest to 2292912 Ontario Inc.
According to the lenders, Merchant House defaulted on the mortgage as early as April 2023 when it failed to repay the loan in full. The lenders say Merchant House also secured an additional loan of $3 million from Alitis Private Real Estate Limited Partnership and Alitis Private REIT without their consent and allowed liens to be registered against the property, among other instances of defaults.
However, the two sides reached a forbearance agreement in August 2023 with an understanding that the Victoria Press Building would be sold and the loan would be repaid in full before November 30, 2023. No transaction was successfully completed, however, and the forbearance agreement was extended to February 2024 and then December 2024.
This year, Merchant House Capital then defaulted again after failing to repay the loan after the forbearance period ended and also failed to make required monthly payments in March and July, in addition to failing to pay property taxes. In June, the lenders issued a demand for payment and subsequently filed a receivership application on July 29 that was granted by B.C. Supreme Court on August 20. The outstanding debt as of June 2 was $41.1 million, with interest continuing to accrue.
In addition to the Victoria Press Building, however, Timbercreek also filed a receivership application in December 2024 against Merchant House Capital’s Blanshard Block project at 780 Fort Street and 1106-1114 Blanshard Street, which they acquired in 2018. The properties make up the entire block on the west side of Blanshard Street between Fort Street and View Street and Merchant House has received approval for a 20-storey mixed-use hotel project referred to as Montrose-Wintergarden.
The receivership application pertained to a credit facility agreement for up to $10 million that the two sides entered into in October 2018. At the time the application was filed, the outstanding debt was nearly $9.6 million plus interest, but the proceedings were adjourned in January, suggesting a forbearance agreement may have been reached.
On the Lower Mainland, Merchant House has also been trying to sell Kinnaird Place, a three-storey strata apartment building in New Westminster that they acquired in 2021 and were planning to redevelop into a 35-storey tower and 31-storey tower with a grand total of 633 units. The property is currently listed for sale with Avison Young for $28 million.
Merchant House Capital CEO David Fullbrook and president Paul Silk have not responded to a request for comment.
23-10-2025 -
Offering follows the receivership of Keltic's Nexus project on the False Creek Flats
In 2021, B.C.'s largest land transaction was Keltic Canada Development Co. Ltd.'s purchase of the Brighouse West Business Park in Richmond for $300 million.
Less than four years later, Keltic has put the property back on the market, Western Investor has learned.
The Brighouse West Business Park consists of 17 buildings located between Westminster Highway and River Road, just south of the Fraser River. Altogether, the site spans 27.1 acres.
Real estate developer Keltic Development acquired the property in 2021 for $300 million from QuadReal Property Group, the real estate subsidiary of the BC Investment Management Corporation (BCI), which partially financed Keltic’s acquisition by providing a vendor take-back mortgage.
Keltic had plans to redevelop the site into a sprawling master-planned community called River Garden, according to the company’s website, but the property was put back on the market in late September, with CBRE’s National Investment Team serving as the listing team, according to a sales brochure.
The sales brochure does not list an asking price, but notes that the Brighouse West Business Park has a net rentable area of 704,462 square feet, is fully leased with a weighted average lease to expiry of 5.5 years, and a stabilized net operating income of $11.1 million.
“The Property presents exceptional income growth upside potential, with below-market in place rental rates,” the brochure states. “Brighouse West Business Park is currently occupied by a wide range of major national and international tenants including Pentel Stationery of Canada and Panex Courier & Branding Ltd.”
Noting the site’s redevelopment potential, the listing team also said that the property’s location “capitalizes on the City of Richmond’s commitment to developing walkable communities, new housing, and enhanced accessibility” and that the City is currently permitting a base floor space ratio of 1.2.
Notably, CBRE says that a 6.25-acre portion of the site, the northeastern corner closest to the Richmond Olympic Oval, is owned via leasehold rather than freehold and that the owner/lessor of this portion is the City of Richmond.
In February, Keltic Development confirmed to Storeys that they were gauging market interest for the property, but that “No definite decision has been made yet” and that they might hold onto the property. Since then, Keltic’s Nexus commercial development near the new St. Paul’s Hospital campus currently being constructed has been placed in receivership.
The lender on Nexus is SHAPE Capital, who said that in addition to defaulting on the mortgage pertaining to Nexus, Keltic had also defaulted on a mortgage registered against Brighouse West in May 2025. Furthermore, the corporate entities that owned Brighouse West also served as additional guarantors for some obligations pertaining to the Nexus mortgage.
Nexus entered receivership on September 5, but Brighouse West is currently not under receivership. The Brighouse West listing is not a court-ordered sale, although the decision to try to sell the property is undoubtedly related to Nexus.
Western Investor reached out to Keltic Development earlier this month, but Keltic declined to comment.
Although there is no asking price, BC Assessment values the property at just over $275 million in an assessment dated to July 1, 2024, so the listing is also undoubtedly one of the largest of the year.
The Metro Vancouver industrial market is not as strong as it was a few years ago, but CBRE notes that it is nonetheless outperforming the rest of the country as supply and availability are low and rental rates are steadily rising. In terms of vacancy rate, the Richmond submarket is even outperforming Vancouver, with a rate of 3.4 per cent compared to Vancouver’s 3.8 per cent.
22-10-2025 -
City staff recommends Beedie be given approval to proceed with redesigned project
More than 200 people participated in a rally outside city hall Monday to push back against a developer’s plan to build a nine-storey 133-unit market condo building in the heart of Vancouver’s Chinatown.
Beedie (Keefer Street) Holdings was given approval in principle in June 2023 to proceed with the project on a piece of vacant property it owns at the corner of Keefer and Columbia streets.
That approval hinged on Beedie meeting a number of conditions related to design, including significantly reshaping the corner of the building, its facade and working with members of Chinatown’s design and art community on the project.
The city’s development permit board heard from city staff Monday that Beedie hired James K.M. Cheng Architects Inc., which has worked to satisfy the conditions outlined more than two years ago.
Staff has recommended approval of the revised proposal, subject to another five design-related conditions that seek to enhance and improve a new courtyard and upper-level roof design.
“This proposal represents a significant development of a prominent Chinatown site that will serve as a backdrop to the revitalized [adjacent] Memorial Square and introduce new covered public space with an adjacent cultural amenity,” said Derek Robinson, the city’s development planner for the project, in a presentation Monday.
“Through further design refinement, this proposal has the opportunity to strengthen the neighbourhood's distinct sense of place and architectural identity.”
'We don't want your plan'
Prior to the hearing, a coalition that included young people and senior activists from Chinatown, representatives from the Vancouver Tenants Union, the Vancouver Area Network of Drug Users and Jean Swanson, a former city councillor, held a rally outside the front entrance to city hall.
The message from protesters—as it has been since Beedie first unsuccessfully floated a proposal before city council in 2017—was that they don’t want the building, arguing Chinatown needs more affordable and social housing, particularly for seniors.
Speakers also noted Beedie now refers to the project's address as 570 Columbia St. instead of 105 Keefer St., which became synonymous with controversy. One of the signs held by protesters read: "You can change the name, but you can't erase history."
“What we want is really not complicated—a Chinatown where seniors can age in place, where low-income renters can stay rooted, where people are safe and where culture is lived, not commodified,” said Asura Enkhbayar of the Vancouver Tenants Union.
“To Beedie, you cannot buy your way into community, culture and heritage. That very community is speaking today, and we don't want your plan.”
That sentiment carried over into the council chamber, where the three-person development permit board and an advisory panel heard from more people opposed to the project.
A total of 122 people registered to speak, with approximately 30 addressing the board over a three-hour span observed by BIV. All but two of the speakers opposed Beedie’s proposal, with many using their time at the lectern to raise wider concerns about gentrification and not the conditions set by the board two years ago.
Before the first person stepped to the microphone, the meeting’s chairperson—Timothy Potter—cautioned speakers that the hearing was not being held to challenge previous decisions of the development permit board.
“So if there is any desire to speak on matters that relate to prior aspects of the project, staff are not able to undo or redo prior decisions,” said Potter, summarizing that issues before the board Monday related to building height exclusions, relaxations of various regulations, building setbacks, minor encroachments and floor area of the project.
'Preventing displacement'
One of the first speakers, Jessica Hanzelkova, said Beedie’s proposal should be rejected for not meeting conditions of the development permit board before the January 2024 deadline; the new design was submitted in July 2025.
“Way past the deadline,” said Hanzelkova, who is an intern architect, an artist with a studio in Chinatown and a board member of the Vancouver Cantonese opera.
(The city extended the deadline to meet conditions, meaning Beedie didn’t have to submit a new development application.)
“The second reason the board should reject the current proposal is that condo buildings cause displacement, especially in ethno-cultural community areas, and particularly in Chinatown,” Hanzelkova continued.
“Preventing displacement and stewarding intangible and cultural heritage is something that the City of Vancouver committed to for this neighbourhood when they approved the Chinatown cultural district framework in 2024.”
Swanson, who served as a city councillor from 2018 to 2022, echoed Hanzelkova’s concerns about gentrification, noting that Chinatown used to be a working-class area with cheaper restaurants and shops that were accessible to most folks.
“Not now,” she said. “Business is open to serve the residents with the most money, and that's what's happening here, and this project will make the situation worse. We desperately need non-market housing for lower-income folks, especially Chinese seniors.”
Technical reasons to oppose the project, she added, were Beedie’s revised application, height increases, shadowing on the Chinatown Memorial Square, inadequate community space and concerns over commercial loading on the square.
70 two-bedrooms
The redesign of the building incorporates a large courtyard and opens up what will be a green rooftop to the public.
The number of apartments has increased from 111 to 133, with 12 studios, 46 one-bedrooms, 70 two-bedrooms and five three-bedrooms.
The height in certain areas also increased to accommodate a corner cupola (by 12 feet) and courtyard cover (by 14.5 feet), which Robinson described in his presentation as decorative roof elements.
“The corner cupola is intended to strengthen and anchor the building corner as a gateway element into Chinatown,” he said. “Its form references traditional Chinese roofs with a lantern top intended to serve as a distinctive skyline feature.”
Robinson said the courtyard cover is central to the revised architectural strategy and intended to complement the area's character. The structure is set back approximately 35 feet from the property line to minimize impacts on neighbours.
Staff has also agreed to height increases for an elevator and stair access to the roof, along with parapets, guardrails and screening that hides mechanical equipment.
'Time for this project to proceed'
Chris Evans, who owns the property adjacent to Beedie’s site, told the board that he just finished construction of the Keefer House hotel on his land. Evans said he was 100 per cent supportive of Beedie’s condo project.
“I couldn't be more excited to see our neighbour get building,” he said.
Ameet Johal, a longtime Chinatown resident, also voiced her support for the project.
“I understand that this is a very sensitive site, and I appreciate the many years of engagement and enthusiasm from both viewpoints,” Johal said.
“It takes effort and is not easy to remain engaged. However, I do strongly feel this process has been long enough, inclusive and transparent enough, and it's time for this project to proceed.”
Johal said she was pleased that Beatty hired James Cheng’s architecture firm, noting his deep roots in Chinatown. Cheng was seated in the council chamber gallery during the hearing.
Beedie acquired property in 2013
Beedie acquired the property in July 2013. It is adjacent to the Chinatown Memorial Plaza, which features a monument to Chinese railway workers and veterans. The city is currently finalizing a new design of the plaza to improve the public space.
The company has taken several years to get to final approval, with it first being turned down in June 2017 by the Vision Vancouver-led council.
Then-mayor Gregor Robertson and seven councillors raised various concerns, arguing the building’s design was too bulky and would block views and cast shadows on neighbouring Dr. Sun Yat-Sen Classical Chinese Garden.
They also said the building wouldn’t preserve the heritage and cultural character of Chinatown, and there wasn’t enough social housing in the plan.
A few months after that vote, in November 2017, the development permit board rejected a nine-storey version of the proposal in a 2-1 vote.
Beedie had decreased the height of its project to nine storeys, which meant it didn’t have to go before council again. The new design removed 25 seniors’ apartments.
Hearing to continue in November
In December 2017, Beedie appealed the permit board’s decision to the city’s board of variance. In February 2018, the board of variance indicated to Beedie that it had no jurisdiction to consider such an appeal.
Beedie took court action against the city, beginning in August 2019. That led to a petition hearing over four days in June 2022.
B.C. Supreme Court Justice Jan Brongers said in a written decision released Dec. 13, 2022 that Beedie could return before the city’s development permit board to seek approval of its proposal at 105 Keefer St.
Which the company did, getting approval in principle in June 2023, which then led to Monday’s hearing before the board.
The board did not make a decision Monday because another 40 speakers still need to be heard. A tentative continuation date is scheduled for Nov. 17, although interested parties are asked to check the city’s website for confirmation on a date.
X/@Howellings
21-10-2025
