Vancouver Real Estate Update: Office Show Suites and City Policy Shifts

May 26, 2026 - 04:41

A closer look at the trend driving my latest reporting for The Globe and Mail. This month I focused on the rise of office show suites, where developers finish out spaces before signing tenants, rather than handing over bare shells. PCI Developments was an early adopter of this approach, so I spoke with PCI's Jarvis Rouillard for the landlord side of things, and Janay Koldingnes of Edit Studios for the design perspective. Koldingnes mentioned she is currently working on show suites for 700-750 West Pender Street, the office building KingSett Capital bought from Cadillac Fairview and IMCo last year.

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Vancouver City Council has approved Mayor Ken Sim's motion to review the Vancouver Building By-law and pause the Energize Vancouver Program. Before the vote, Minister of Housing and Municipal Affairs Christine Boyle, a former Vancouver councillor, sent Council a letter advising against the motion. Sim called it an eleventh-hour attempt to interfere in an active Council debate. The two have a complicated history, with Sim having filed two formal complaints against Boyle during her time on Council.

Prime Minister Mark Carney spoke to the Greater Vancouver Board of Trade last week, saying that discussions about an HST and DCCs deal for British Columbia, similar to one already announced for Ontario, are in early stages. The UDI, BCREA, and other groups responded with a letter to Boyle urging faster action.

The City of Surrey has approved DCC reductions and endorsed a new ACC program. Hundreds of people marched in protest against the AI data centres announced by Telus, Westbank, and the Government of Canada. A legal challenge has also been filed against the proposed floating hotel near the Vancouver Convention Centre, arguing that public consultation was insufficient because the renderings were misleading.

With FIFA weeks away, hotel demand has not been as strong as expected, according to the BC Hotel Association, which blamed the messaging around the event.

A group of women in commercial real estate has launched a Vancouver chapter of CRE8, an organization originally founded in Toronto for women on the transaction side of the business. I spoke with Bahareh Tabar of Cushman & Wakefield and Stephanie Yeargin of Avison Young about how the chapter came together.

Oakwyn Realty is partnering with UBC's Sauder School of Business to offer ten bursaries for women entering real estate. Sutton Group is expanding with five new offices across Canada, including three in British Columbia.