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City of Vancouver·British Columbia

Restaurant Operator and Property Management Services at Chinatown Plaza

Closes 6/23/2026$1M – $5MRequest for Proposal
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Description

The City of Vancouver is seeking a qualified proponent (or consortium) to operate a full‑service restaurant and provide comprehensive property‑management and merchandising services for Chinatown Plaza, a 47,000 sq ft mixed‑use development located at 180 Keefer Street. The contract will be structured as a lease for the restaurant (minimum 10‑year term with two optional 5‑year extensions) and a separate 5‑year property‑management agreement. The successful bidder must submit detailed lease proposals, financial projections (rent and management‑fee forecasts), demonstrate experience in large‑scale restaurant operations, and show capability to manage the plaza’s retail, office, and common‑area assets in line with City policy goals (cultural activation, sustainability, Indigenous participation, and social equity). • Deliver a 10‑year restaurant lease, invest at least $2 M in tenant‑improvements, and meet a minimum gross rent of $70,000 per month. • Provide a 5‑year property‑management and merchandising plan covering maintenance, tenant coordination, marketing, and cultural‑programming for the entire plaza. • Submit full technical and financial proposals (questionnaire, insurance certificates, conflict‑of‑interest disclosure, Indigenous participation plan, etc.) by 23 June 2026. • Attend an optional information meeting on 3 June 2026 (pre‑registration required by 2 June 2026). • Comply with City’s Fair‑Wage Policy, Supplier Code of Conduct, and applicable health‑, safety‑ and environmental regulations.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Jessica Li(Procurement Contact)

[email protected]

Key dates

Opened
5/21/2026
Pre-bid meeting
6/3/2026
Closes
6/23/2026
Duration
10 years

Last updated

Details

Type
Request for Proposal
Industry
Food and Beverage Services
NAICS
722511
Solicitation №
PS20261748-REFM-RFP

Budget estimate

$1,000,000 – $5,000,000

While the solicitation does not disclose a fixed contract value, the operator will be required to generate at least $70,000 per month in gross rent (≈ $840,000 per year) and invest a minimum of $2 million in tenant‑improvements. Assuming a modest profit margin of 10‑20 % on restaurant operations and a property‑management fee of roughly 5‑10 % of gross revenues, the total annual revenue to the successful proponent could range from $1.5 million to $4 million. Over the baseline 10‑year term, this translates to a cumulative budget roughly between $15 million and $40 million (CAD). Converting to USD (assuming 1 CAD ≈ 0.74 USD) yields an estimated earnings range of $11 million – $30 million over the contract life. For the purpose of a single‑year estimate in USD, we suggest a low‑end of $1 million and a high‑end of $5 million.

AI estimate from the solicitation

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