Construction is officially underway on Parq Vancouver, an entertainment resort to be located adjacent to BC Place Stadium, and the developers say the project’s $600 million price tag makes it British Columbia’s largest private development.
The resort will be the new home of the Edgewater Casino and will be anchored by two Marriott hotels: a five-start JW Marriott, which will have 288 luxury guest rooms and 41 suites, and The Douglas, with 178 rooms and 10 suites.
The property will also have three restaurants, bars and a spa.
"Vancouver is one of the world's most desirable travel destinations, and this remarkable property will not only reinvigorate part of downtown Vancouver, but also provide visitors and residents with an entertainment destination that rivals the best anywhere," said Scott Menke, president of Paragon Development, one of the partners of Parq Holdings Limited.
“We are excited to build a landmark that will maintain the integrity of Vancouver's unique local culture and are thrilled to see this important resort come to life in the coming months."
Parq Vancouver will have 62,000 square feet of meeting, conference and special event space, including what the developers say will be the city’s largest ballroom.
The Douglas Hotel is named after Canadian botanist David Douglas, the namesake of the Douglas Fir. This property will have a “living lobby” with gardens in an arboretum.
Parq Holdings is a joint venture between Paragon Development Ltd., Dundee Corporation (TSX:DC.A) and PBC VUR Limited Partnership.
Financing for the project was completed in December. Construction is scheduled to be finished in late 2016.
