This year’s launch event brought together Downtown Van members, business leaders, policymakers and partners to discuss where downtown Vancouver stands today, and where it could go.

The annual State of Downtown report is more than just our signature publication, it offers data-driven insights into the cultural, social, and economic health of the downtown core which can then inform decisions and spark meaningful dialogue. 

Download your free copy of the 2025 State of Downtown.  

Thank you to Moneris for their support as our Partner Sponsor.  

Mayor Ken Sim’s Opening Remarks

This year, we were honoured to have Vancouver Mayor Ken Sim open the event with a few remarks. He emphasized the vital role of downtown businesses in shaping the city’s vibrancy and acknowledged the real challenges they face, including public safety concerns and retail theft.  

The mayor also reaffirmed the city’s commitment to supporting the downtown core, highlighting initiatives focused on keeping streets clean, removing graffiti, and improving urban infrastructure. Looking ahead, he expressed optimism about Vancouver’s potential, emphasising upcoming events like Web Summit and the FIFA World Cup 2026.  

CEO Presentation with Jane Talbot

Downtown Van President & CEO Jane Talbot opened her speech reflecting on our organization’s 35-year history – from a team of two to its current size today. “In that time, we’ve seen Vancouver transform into a world-class city—attracting new industries, investment, and residents from around the globe, and reimagining what a downtown can be” she said.  

Jane highlighted several standout moments from the last year, including our Better Safe / Than Sorry campaign’s impact on government policy and unique activations like the downtown ferris wheel and Taylor Swift-themed installations, some of which were led by Downtown Van and others by community partners.  

 

She also acknowledged the uncertainty brought on by both global and local political shifts, while expressing confidence in the resilience of the city and its people: “The next four years may test us—but we’ve faced bigger challenges before. And together, we’ll weather whatever storm comes our way and rise stronger than ever.” 

Report Findings with Sean Bailey

Sean Bailey, Downtown Van’s Advisor, Research + Policy presented the key findings from this year’s report.  

Notably, in 2024, downtown Vancouver saw its first decline in visits since the pandemic, with an 8% drop in total visits. While Granville Street saw a 12% increase in foot traffic, the entertainment district experienced a 19% drop in weekend visits. 

Transit ridership growth has remained slow, and businesses are facing rising costs, with operating costs increasing by 25% over five years. Storefront vacancies have surged, with nearly 30% of storefronts on Granville Street currently empty. 

Despite these challenges, some sectors are showing resilience. Apparel sales rose 7.3%, and major events like Taylor Swift’s The Eras Tour stop in Vancouver boosted local spending by 26%. Sean also noted that local, free events often have longer-lasting impacts: “Granville Block Party and Canada Day at the Port brought people together on the streets of downtown and they ended up being more likely to come back downtown. Whereas the Taylor Swift fans were truly there for Taylor Swift.” 

Sean also highlighted future opportunities, including the Millennium Line extension in 2027 and the Granville Plan, calling it: “the most significant planning and development change to downtown in decades.”

Panel Discussion

This year’s panel discussion, “Investing in the Future of Downtown,” examined the transformative potential of the downtown core. The panel included Sean McCormick, Vice President of Business Development at Moneris Data Services; Mary Rowe, President & CEO at the Canadian Urban Institute; and Paul Stoilen, Regional Director of Business Development at The MRG Group. The conversation was skillfully moderated by Downtown Van’s President & CEO, Jane Talbot.

The panel covered a wide range of topics, from post pandemic recovery to long-term city planning. Some of the key themes discussed included:

  • Downtown Revitalization: Panelists addressed the challenges urban centers face in the post-pandemic era, emphasizing the importance of innovative strategies to attract both businesses and visitors. They highlighted the value of mixed-use spaces and the creation of diverse urban experiences.
  • Economic Resilience: The group highlighted how major events contribute to the local economy but also acknowledged the rising business costs. They discussed strategies to support local businesses and foster unique experiences.
  • Urban Planning and Development: They discussed ways to reimagine spaces like the Hudson’s Bay building and pushing forward the Granville Plan as ways to revitalize the city. The goal is to create vibrant, 24/7 economies in entertainment districts, encouraging year-round activity and engagement.
  • Transportation and Nightlife: Expanding transit hours and supporting the hospitality and entertainment industries were discussed as critical for improving accessibility and safety.

The insights shared during the 2025 State of Downtown launch event highlight both the challenges and exciting opportunities ahead for downtown Vancouver. With the collaborative efforts of our community and stakeholders, we are certain that downtown’s best is yet to come.

Thank you to all who attended our event, we look forward to seeing you at the next one.

Learn More
  • Download the 2025 State of Downtown.
  • For the latest data, check out our Economic Dashboard (updated monthly).
  • If you missed our event and for more information, contact Sean Bailey, Advisor, Research + Policy (seanb@dtvan.ca) and Ingrid Valou, Manager, Economic Development (ingrid@dtvan.ca) who would be happy to present the key highlights directly to your team.
  • To stay up to date with what’s going on in downtown Vancouver, follow us on LinkedIn, X, Instagram and TikTok, @downtownvan or listen to our podcast, “Hey, Downtown Van!”.
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