Madison Pacific Properties Inc T.MPC

Rupert Station.

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A big part of the Rupert Street industrial was leased to The Very Good Food Company.
Good Food failed in January.
The bankruptcy was a complete wipe out and the equipment has been sold.
This space is likely vacant at this point. The co. indicated a uptick in vacancy in the quarterly report.
Meanwhile, the City is focused on the redevelopment of the area.
Redevelopment could unlock some significant value.

UPDATE: Rupert and Renfrew Station Area 

As noted in previous UDI newsletters, the City’s second round of engagement on the Rupert and Renfrew Station Area planning process was completed in March 2023. Over the next few months, City staff will be working to complete several technical studies to support the area planning process. They anticipate bringing draft plan content forward for public engagement in Fall 2023, with the final plan now anticipated to go to Council for approval in Q2 2024. 

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MPC owns 275,000 sq feet of land, Over 6 acres directly adjacent to Rupert Station. 6. Explore opportunities for more high-density, transit-oriented developments next to Vancouver’s underdeveloped SkyTrain stations. This will particularly focus on the rezoning of lands in close proximity to Nanaimo Station and 29th Avenue Station on the Expo Line, and Renfrew Station and Rupert Station on