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31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in “Pilkington House” (Vancouver East) : MLS®# R2726406

Posted by Aedis Realty on November 28, 2022
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Chinatown Overview

Vancouver ChinatownCanada’s largest Chinatown, among the largest in North America, is in the City of Vancouver, British Columbia, in the blocks around Main, Pender, and Keefer Streets with the Gastown and Downtown districts to the west, Downtown Eastside to the north, the residential district of Strathcona to the east, and False Creek to the south. Chinatown remains a popular tourist attraction despite the growth of the newer Chinese immigrant business district in the suburb of Richmond south of Vancouver on Lulu Island in the Fraser River. Many affluent Hong Kong and Taiwan immigrants in Richmond have developed successful Chinese businesses in the area now named Golden Village by the City of Richmond, which once proposed the name “Chinatown” only to encounter strong resistance from the original Chinatown in Vancouver and from non-Chinese Richmond residents and merchants.

Asian Influx

The Greater Vancouver Regional District received large numbers of Asian immigrants during the late 20th Century, primarily Chinese, whose population reached 300,000 by the mid-’90s. More immigrants settled in Richmond than in Vancouver Chinatown for its lower costs of living and closer distance to the Vancouver International Airport. The development of suburban Asian shopping districts with plenty of parking space like Richmond’s Aberdeen Centre, visibly impaired the business heart of historic Chinatown.

Decline

Chinatown businesses today consist mostly of working-class retailers, small groceries, tea shops, and souvenir stores. Some restaurants stand out, but there are no longer so many, and their declining numbers brought less foot traffic and nighttime activity than in former times. The 10-percent Chinatown vacancy rate shows the need for a fresh approach to development to replace businesses that have moved to suburban locations, retired, or simply closed. Redevelopment opportunities are clearly present. Chinatown lease rates from $15–30/square foot are the cheapest in the city, much lower than those in Vancouver’s Downtown shopping district.

The Vancouver Chinatown Business Improvement Area

In the 1990s, the Vancouver Chinatown Merchants Association searched for an effective vehicle for projects to revitalize the area. Gastown and Downtown Vancouver had formed business improvement areas (BIAs) with evident success. With the consent and support of merchants and property owners, the association planned to establish a Chinatown BIA.

After several attempts, the association succeeded in winning the community support necessary establish a Chinatown BIA. The Vancouver Chinatown Business Improvement Area (VCBIA) incorporated in 2000 on a model of BIAs successful in other areas of the city to improve Chinatown’s cleanliness and safety, expand and promote its events, and work with media and external partners to make Chinatown popular and prosperous again. A voluntary board of property owners and tenants manages the VCBIA. The city assists with annual funding through a special property tax like a local improvement levy. Each property’s contribution to the annual BIA budget is according to its proportionate share of the total BIA taxable value.

Information Links:

http://vancouver-chinatown.com
http://vancouver.ca/home-property-development/chinatown-revitalization.aspx

Redevelopment Prospects

A new Chinatown business plan now encourages entrepreneurs to move in to rehabilitate storefronts, attract a young crowd, and make visitors more comfortable. Attracted by low rents and heritage buildings, new businesses have moved in with owners in apartments above the shops. Chinatown’s priority now is to attract people of all backgrounds in the belief that non-traditional stores will bring a new flow of energy and income. Commercial activity is increasingly diverse with vintage stores, two art galleries, bars, and now a nightclub at the location of the former Ming’s restaurant, an attempt to bring back some of the nightlife atmosphere of the 1950s and ’60s. The diversity of new shops and businesses has created a new Chinatown image of vibrancy to compete with suburban districts and complement nearby Gastown and Downtown Vancouver.

New Chinatown Live MLS Listings

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31 120 POWELL Street
Downtown VE Vancouver V6A 1G1

$2,250,000
Residential Attached beds: 3 baths: 2.0 2,854 sq. ft. built: 1910

Main Photo: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 1: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 2: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 3: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 4: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 5: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 6: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 7: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 8: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 9: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 10: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 11: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 12: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 13: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 14: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 15: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 16: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 17: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 18: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 19: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 20: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 21: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 22: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 23: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 24: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 25: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 26: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 27: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 28: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 29: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 30: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Photo 31: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
Status:
Active
Prop. Type:
Residential Attached
MLS® Num:
R2726406
Bedrooms:
3
Bathrooms:
2
Year Built:
1910
BOUTIQUE HERITAGE LOFT CONVERSION This heritage building features 2 large suites per floor and a common rooftop patio. There are only 6 residential units, and one ground floor commercial office. Built in 1910, Pilkington House was once used as a glass distribution factory and converted to residential lofts in 1991. This bright NW corner three bedroom home is one of Vancouver's largest lofts at 2854 sq.ft. The suite features concrete floors, exposed brick walls, fireplace, heritage wood beams along with twelve large opening windows on the west side with three more 'hopper' style windows facing north. Two parking spots underground, rentals allowed. Located in the heart of Gastown near fine neighbourhood restaurants, galleries, shopping and cafe's. A unique living space.
Property Type:
Residential Attached
Dwelling Type:
Apartment/Condo
Home Style:
Year built:
1910 (Age: 112)
Total area:
2,854 sq. ft.
Total Floor Area:
2,854 sq. ft.
Total unfinished area:
Main Floor Area:
2,854 sq. ft.
Floor Area Above Main:
Floor Area Above Main 2:
Floor Area Detached 2nd Residence:
Floor Area Below Main:
Basement Area:
No. Floor Levels:
1.0
Rainscreen:
Bedrooms:
3 (Above Grd: 3)
Bathrooms:
2.0 (Full:2/Half:0)
Kitchens:
Rooms:
Num Storeys:
4
Taxes:
$6,048.32 / 2022
Lot Area:
0 sq. ft.
Exposure / Faces:
Rear Yard Exposure:
Outdoor Area:
Pad Rental:
# or % of Rentals Allowed:
# or %:
Water Supply:
Plan:
LMS113
Total Units in Strata:
Heating:
Construction:
Foundation:
Basement:
None
Full Height:
Crawl Height:
Roof:
Floor Finish:
Fireplaces:
1
Fireplace Details:
Parking:
Parking Total/Covered:
2 / 2
Parking Access:
Driveway:
Exterior Finish:
Title to Land:
Freehold Strata
Flood Plain:
Suite:
Floor
Type
Size
Other
Main
Main
Main
Main
Main
Main
Main
Main
Floor
Ensuite
Pieces
Other
Main
Main
$750.00
Clothes Washer/Dryer/Fridge/Stove/DW, Dishwasher, Drapes/Window Coverings, Fireplace Insert, Garage Door Opener, Range Top, Refrigerator, Smoke Alarm, Stove, Vacuum - Built In
Central Location, Recreation Nearby, Shopping Nearby
Elevator, Garden, In Suite Laundry
CITY - WEST OUTLOOK
Dist to Public Trans:
Dist to School Bus:
Property Disclosure:
Fixtures Leased:
Fixtures Removed:
Cats:
Dogs:
Reno / Year:
Other / 1991
Units in Development:
Plumbing Details:
Services Connected:
Previous Price:
Original Price:
  • Photo 1: 31 120 POWELL Street in Vancouver: Downtown VE Condo for sale in "Pilkington House" (Vancouver East)  : MLS®# R2726406
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Listed by Coldwell Banker Prestige Realty
Data was last updated November 29, 2022 at 04:40 AM (UTC)
Area Statistics
Listings on market:
28
Avg list price:
$971,500
Min list price:
$429,999
Max list price:
$2,250,000
Avg days on market:
51
Min days on market:
3
Max days on market:
141
Avg price per sq.ft.:
$924.65
These statistics are generated based on the current listing's property type and located in Downtown VE. Average values are derived using median calculations.
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