B.C. buys hotel for $8M above assessment value

Vancouver property assessed at $11.1 million bought for $19.4 million by the province in off-market transaction.

B.C. Government
June 25, 2020

Buchan Hotel, BC Government buy
— B.C. Government

Property type: Hotel
Location: 1608 Haro Street, Vancouver
Number of units: 63
Year built: 1935
Land size: 8,646 square feet
BC Assessment value 2020: $11.1 million
Sale price: $19.4 million
Purpose: Social housing
Price per unit: $307,900
Buyer: B.C. government, Minister of Housing
Dale of sale: June 24 (announced)

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