Businesses in Vancouver’s Gastown are experiencing significant revenue losses due to ongoing construction in the area. The City of Vancouver initiated a $10-million construction project in Gastown as part of its 2023-2026 capital plan, with the goal of revitalizing the area. The construction began around two months ago, with interim repairs starting at Maple Tree Square in early March. The repairs involved replacing damaged brick and asphalt patches with new brick pavers. However, the ongoing construction has negatively impacted businesses in the area, with the Gastown Business Improvement Society reporting that businesses are losing millions of dollars in revenue each week.
The Gastown BIA executive director, Wally Wargolet, stated that businesses are facing substantial financial losses, estimating around $5 million in lost revenue over the past 10 weeks. Many businesses have expressed concerns about reaching a “breaking point” due to the ongoing construction. While businesses understand the benefits of transforming Water Street into a car-free area during the summer months for tourism purposes, they are worried about the lack of parking deterring local customers. The society also raised concerns about public sanitation issues in Gastown and the potential risks associated with upcoming street closures in the summer.
In response to the challenges faced by businesses in Gastown, the Gastown Business Improvement Society is working with the City of Vancouver to address the issues. Efforts include installing signage to guide visitors to Gastown and continuing the free parking initiative with a grant investment from the city council. Vancouver Coun. Peter Meiszner emphasized that the city is committed to supporting businesses in Gastown and promoting the area as a vibrant destination. Despite the current road repairs and construction, the city is preparing for a summer filled with programming, including seating and patios, to attract visitors to Gastown.
The City of Vancouver is in the process of developing a permanent design for Gastown as part of the Gastown Public Spaces Plan. The city has received public consultation for the plan and is currently reviewing how to proceed with the revitalization of the area. While businesses in Gastown are facing challenges due to the ongoing construction, there is optimism about the future of the neighborhood once the construction is completed. The city’s efforts to support businesses and enhance the visitor experience in Gastown are seen as positive steps towards revitalizing the area and attracting more customers.
Overall, the ongoing construction in Gastown has had a significant impact on local businesses, with millions of dollars in revenue losses reported since the project began. While businesses are facing challenges, efforts are being made by the Gastown Business Improvement Society and the City of Vancouver to address concerns and support businesses during this period of construction. The upcoming transformation of Water Street into a car-free area during the summer months is expected to boost tourism in the area, but businesses are concerned about the potential negative effects on local customers. Despite the current obstacles, there is a sense of optimism about the future of Gastown and the opportunities for growth and revitalization once the construction is completed.
