Assessed value of former Dunsmuir Hotel tripled after public complaint – BC [Video]

British Columbia’s Property Assessment Review Panel has approved a nearly threefold increase in the 2025 assessed value of Vancouver’s former Dunsmuir hotel site, after a citizen launched a rare third-party appeal.

“I do feel that there’s a little bit of justice,” planning and real estate consultant Michael Geller told Global News in an interview.

500 Dunsmuir Street is being cleared for a new development by its owner, Holborn Properties, after the former hotel-turned-Dunsmuir House single-room occupancy (SRO) was torn down in January.

The City of Vancouver ordered the demolition of the 115-year-old building last December after it deteriorated to the point it was at risk of “catastrophic collapse.”

Geller was curious about the property’s assessed value and said he discovered the dilapidated building was assessed highly while the land was valued very low.

He said he wanted Holborn to pay its fair share of taxes based on the property’s true …