Troubled 28-Storey Vancouver Tower Hits The Market

Troubled 28-Storey Vancouver Tower Hits The Market
News| August 19, 2026| Joel Bowey
Canada + Apartment Buildings

A troubled Vancouver development nearing completion will soon hit the market through a court-supervised sale.

Jameson Development is developing the mixed-use building at 2538 Birch St., near West Broadway. The project ran into financial trouble in 2025 after its lender cut off construction funding, prompting Jameson to seek creditor protection in November.

Interim financing later allowed construction to resume. By late July, the project team expected to complete most of the remaining work and apply for occupancy this month. Testing, inspections and repairs could continue into September.

The Supreme Court of British Columbia approved the sales and investment solicitation process on July 28. Court-appointed monitor Alvarez & Marsal will work with a sales agent and evaluate the offers.

Jameson received one non-binding restructuring proposal before the court-supervised process began, but the monitor said the company had made little other progress toward a deal.

Buyers can consider two possible futures for the property.

The city currently permits 258 rental homes along with commercial space. A rezoning application before the City of Vancouver would instead allow a mixed-use hotel and rental property. Under that proposal, 202 units would become hotel rooms while 56 below-market rental homes would remain on separate floors.

The hotel plan would not significantly change the building’s exterior or overall form, although the buyer may need to modify parts of the interior to meet hotel requirements.

The monitor has set an Oct. 15 deadline for initial offers and a Nov. 15 deadline for final bids. It aims to select a deal by Nov. 25 and close the sale by Dec. 18, subject to court approval.

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