BCBusiness

January/February 2025 – House Money

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

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39 B C B U S I N E S S . C A J A N U A R Y/ F E B R U A R Y 2 0 2 5 When the Broadway Plan was in the process of being implemented by the City of Vancouver, Wall went to his grandmother with the plan of partnering with her to start a company and redevelop a property, called Hollybush, on Kitsilano's West 6th Avenue that has been in the family since Peter Wall got it built in 1967. The two created Hollybush Holdings and Colin Wall presented an application to city hall for The Char- lotte, a 23-storey tower containing 152 purpose-built rental homes, including 122 market rental units and 30 below-market rental units. The entire fifth floor is slated to be a childcare facility, with space for up to 37 kids, while the bottom floor will be designated for retail and restaurant space. "It was a big learning curve; I had never done any of this on my own," says Wall. "I got a lot of help from a lot of good people. And the city seemed to really like our ideas." Of course, that means the scores of residents who currently live in the 48 units at Hollybush will be dis- placed in the next few years. Wall has sympathy for those people, many of whom have lived in the building for decades. The city's rules state that the builder has to offer existing residents a spot in the new building at their same rent and pay for them to rent elsewhere during the construction. Many in the industry are curious how that's going to play out or whether it's even possible, given how much cost the developers have to carry. "My grandma is a very sweet lady—she's gotten to know a lot of the tenants, and my mother has been helping her manage the place," says Wall. "They both have a love for it and the people who live here. We want to be fair and do everything we can and more to help them with whatever they need—moving, moving out fees, whatever that is. We hope they all come back, truthfully. They're great tenants and great people who make Kits what it is." He admits, though, that it's not going to be an easy process for them. "It's going to be annoying. They're going to be put through some annoying things. We're trying to make it as smooth as possible. Vancouver needs more density, and I think they understand that. We're doing everything we can do because we do care about the people." DEMOLITION 2: STOREY TIME Hollybush Holdings' proposal for a 23-storey building called The Charlotte in Kitsilano was still in the process of being greenlit by the City of Vancouver at press time. The project aims to build 152 housing units and provide daycare space for up to 37 children R e n d e r i n g s : F r a n c l A r c h i t e c t u r e I n c . / H o ll y b u s h H o l d i n g s

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