One of the most infamous buildings near Vancouver’s Downtown Eastside looks set for a new lease on life.
Sitting vacant since 2006, the American Hotel at 928 Main Street used to conjure up tall tales – many true – about decrepit living conditions, drug-dealing building managers and regular assaults on drug-addicted tenants.
Former manager Anthony Terezakis is currently serving an 11-year jail term for drug offences and assaults in connection with activity at the hotel.
The lot is set to return under new ownership as the city is expected to approve a Single Room Accommodation Permit Thursday.
Work has already begun on the 42 rooms – most with bathrooms – and the city has mandated that six rooms will rent at $400 a month once the building opens next year.
Councillor Kerry Jang, who spearheaded the revitalization city-side, couldn’t be happier.
“The American Hotel has for a long time epitomized what was wrong with the Downtown Eastside,” he said. “Never mind the drug dealers, as a place for people to live, it was just completely rundown. Now we’re really turning the corner and re-animating the street.”
The remaining 320 sq. ft. units will be rented at market value.
Matt Kieltyka reports for Vancouver 24 hours.
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