Shortly before Vancouver-based real estate developer Bonnis Properties submitted the new proposal for 800-876 Granville Street in February that was unveiled this week, it sold a high-profile retail property just down the street, STOREYS has learned.
The retail property is the commercial podium of the 30-storey condo tower at 610 Granville Street that was completed by Wall Financial Corporation in 2006. The building is known as The Hudson, while the retail podium is informally known as Hudson Mall. (Those names are presumably a nod to the adjacent Hudson's Bay Building at 674 Granville Street.)
Situated at the intersection of Granville Street and Dunsmuir Street, facing CF Pacific Centre, the Hudson Mall consists of several units occupied by The Keg Steakhouse, a Judith & Charles clothing store, and others. The property is comprised of 610, 620, 630, 640, 670, and 672 Granville Street, as well as 678 and 688 Dunsmuir Street.
The property was owned by Bonnis Properties under HCD Holdings Ltd. and was sold to Toronto-based private investment firm Hazelview Investments for $89,121,561 on January 31, 2025. The property is now held by Hazelview Investments under 610 Granville Nominee Inc. BC Assessment values the property at $84,354,000.
The Hudson Mall retailers along Granville Street in August 2018. / Google Maps
Bonnis Properties, co-owned and co-led by brothers Kerry and Dino Bonnis, describes itself as a merchant developer that develops then sells, rather than develop to hold, and this sale is indeed the latest in an extensive list of properties around Vancouver that have either been sold or waiting to be sold.
In October 2023, Bonnis Properties sold the multi-level commercial property at 535 Granville Street to 1003333 BC Ltd. for $17,800,000.
In November, they then sold 728-796 Main Street — a development site where they had proposed an 11-storey building with strata and social housing — to the Hogan's Alley Society for over $20 million.
In December, they then put 798 Granville Street — the sprawling multi-level retail complex that's home to Best Buy, among others — on the market, as first reported by STOREYS. That property was also formerly home to a Winners before the store closed last year and relocated to Hudson Mall. The property is valued at $111,691,000 and has not been sold yet.
In April 2024, Bonnis Properties then put its commercial redevelopment project at 950-978 Granville Street on the market as well. At the time, Kerry Bonnis told STOREYS that it made more sense for them to develop the property and sell it because of the high interest rate environment.
Around that time, they also sold a large retail complex at 2211 W 4th Avenue to Toronto-based Salthill Capital. The price has not been previously reported, but STOREYS has learned that the sale price was $100,000,000.
A few months later, Bonnis also said they were looking to sell 524 Granville Street and 807 Seymour Street, two sites where the developer had been planning strata office projects that became unviable due to the downturn in the office market. The former is directly across the street from the 835 Granville Street site sold in October 2023, while the latter is currently a vacant lot that's back-to-back with Bonnis' 800-876 Granville Street property.
Just prior to the sale of Hudson Mall, Bonnis Properties also sold the historic Hollywood Theatre and the adjacent residential building to Dayhu Group for $47.5 million.
After cancelling the 17-storey commercial building that was originally planned for 800-876 Granville Street, Bonnis Properties has now revised their proposal to a 43-storey and 39-storey mixed-use residential complex that would completely retain the historic Commodore Building. That would be the largest development Bonnis has undertaken and it's one they'd presumably want to hold on to.
