360 VOX Corporation, Paragon Development Ltd. and Dundee Corporation have announced that they have signed “certain agreements, pending regulatory approval as required, to design, develop and operate a $535 million world-class urban resort adjacent to B.C. Place stadium” in Vancouver.
The approximately 675,000-sq.-ft. development will include two luxury hotels, conference centre, restaurants and retail space as well as a new home for the existing Edgewater Casino. It will feature an “animated streetscape”; outdoor gathering space; and improved pedestrian walkways connecting it with Yaletown, B.C. Place and downtown Vancouver. It is expected to open at the end of 2016.
Dundee, the largest shareholder of 360 VOX, will assost 360 VOX with financing and related experience, while publicly-traded real estate experts 360 VOX will be responsible for management, construction and development of the urban resort complex. Paragon will lend its gaming expertise and develop an optimal mix of amenities and services for the new complex.
“This vibrant new urban resort will create a new entertainment center for both Vancouver residents and tourists by creating a resort centerpiece where people can see a game, concert or show; meet, work or stay,” said Ned Goodman, president and CEO, Dundee Corporation.
“We believe that this unique project will provide a strategic advantage to the City of Vancouver in the global competition for international visitors. The combination of B.C. Place with the new urban resort will offer both visitors and Vancouverites an exceptional new entertainment venue,” said Robin Conners, president and CEO of VOX Corporation.
The parties are presently in advanced negotiations with Marriott International Inc. to act as manager of the two hotels.