a ruined landmark restored — through strategy, data, and vision
- Only rental high-rise in town
- Vacant 11 years, now fully restored
- Sold through deep analysis and strategic execution
listing
description
For over a decade, Digby Tower loomed as a decaying shell over Prince Rupert — the largest multifamily building in town, and the only rental high-rise for 800 kilometres. It had sat vacant for 11 years, gutted by time and neglect. Fires had torn through several floors. Water and mould had infiltrated the structure. Squatters had overtaken entire sections. Windows were shattered, mechanical systems failed, and the lower levels had become an unofficial venue for wild, illegal parties. It was a liability, a blight, and — potentially — a transformative opportunity.
My clients brought me on to sell it. What followed was a masterclass in strategic real estate execution. Through layered economic analysis, granular renovation cost modelling, and highly targeted outreach, I found the right buyer, negotiated the deal, and helped underwrite it through to close. Every number in my pro forma was grounded in research and verified by comparable data. And those numbers proved right — the buyer’s final renovation costs landed within 4% of my original forecast. My income models and yield projections were core to both the buyer’s decision and their ability to secure financing.
Today, Digby Tower has been fully restored. A forgotten, fire-damaged structure is now a landmark rental asset in one of Canada’s fastest-growing export hubs — a town with deep ties to the North American supply chain.
And the principles that made it possible — accurate underwriting, clear foresight, credible analysis, and relentless execution — are just as essential in Vancouver, whether the site is in the Broadway Plan, Chinatown, or Marpole.
This wasn’t just a win for my client. It was a demonstration of what’s possible when data meets vision — no matter the market.
investment
thesis
An unrepeatable opportunity: the only high-rise rental building in an emerging northern port city, sold based on future value and repositioned for long-term yield. A case study in unlocking trapped value through data-backed planning and execution.
policy
context
Zoned for multifamily residential, Digby Tower sits on four legal parcels within Prince Rupert’s urban core. The zoning supports high-density rental use and aligned with both local housing goals and provincial development incentives. The unique status of the building — the only concrete multifamily tower in the region — positioned it as a critical anchor for future housing and rental stability in the city.
buyer
appeal
The buyer saw long-term upside — but what moved the deal forward was clarity. My renovation cost models were within 4% of final actuals. My income projections held up under lender scrutiny. And every element of the deal was underpinned by credible, documented research — from economic trends and demographic shifts to market yield analysis and financing strategy. That level of preparation is what made this deal possible — and it’s what I bring to every complex transaction I take on.
Only rental tower in Prince Rupert
Fully vacant, now fully restored
Sold through sophisticated analysis and execution
specifications
Sold Price: $1,500,000
Total Units: 60
Suite Mix: 20 x Studio, 40 x One-Bedroom
Lot Size: 33,620 SF (4 legal parcels)
Year Built: 1966
Occupancy at Sale: 100% Vacant
Zoning: Multifamily Residential
Construction: Concrete High-Rise
Elevators: Yes, fully operational
Special Notes: Additional density possible on ground floor; subject to local approvals
Legal Description:
Lot A Block 1 Plan PRP4069 District Lot 251
Lot 1, Lot 2, Lot 34 Block 1 Plan PRP923A Section 9
PIDs: 011-690-372, 013-737-961, 013-737-970, 013-738-186
gallery
of images
