According to an article in Business in Vancouver, 23 retailers have closed in Gastown since the pandemic hit in March, but 21 new stores have also opened at the same time. Lee & Associates Vancouver has also been active in the Gastown retail leasing market during the pandemic.
Although the effects of COVID-19 has hammered merchants in this neighbourhood, Neil McAllister, Senior Vice President of Retail, says Gastown will bounce back.
“Unfortunately, Gastown has taken the brunt of the social problems in Vancouver since COVID began,” said Neil McAllister, a retail leasing agent with Lee & Associates.
He said the loss of cruise ship passengers, and the shutdown of conventions has hammered Gastown merchants.
“Gastown will certainly come back,” McAllister said, ”but that requires tourism and probably the end of [the pandemic].”
