Gastown businesses losing millions due to Water Street construction, society says
Global News
The City of Vancouver began work in Gastown roughly two months ago, ahead of its summer pilot of having Water Street a car-free area for July and August.
Businesses in Vancouver’s Gastown say they are losing out on millions of dollars of revenue due to ongoing construction.
The City of Vancouver began work in Gastown roughly two months ago, ahead of its summer pilot of having Water Street a car-free area for July and August.
The $10-million construction project is part of the city’s 2023-2026 capital plan with the aim of revitalizing the area. Interim repairs began at Maple Tree Square in early March.
Repairs included replacing damaged brick and asphalt patches with new brick pavers.
However, the ongoing construction has hindered businesses in the area, according to the Gastown Business Improvement Society.
The society said businesses are reporting significant losses in revenue since the construction began. The society represents more than 600 retail stores in Gastown.
“We are looking at probably half a million dollars a week,” Gastown BIA executive director Wally Wargolet said.
“Construction has been going on for 10 weeks so $5 million in lost revenue for many of our businesses here … it’s a huge hit.”
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