342 Water Street

space

A full building transformation of 342 Water Street, a century-old heritage property in Vancouver's historic Gastown neighbourhood. Commissioned by Upfield Capital Management, Edgar Development, and Bridgemans Services Group, the project encompasses a ground-floor restaurant space and long-standing cigar shop, three upper floors of custom office buildouts for Edgar and Bridgemans, and a move-in-ready show suite available for lease. Currently under construction with completion expected in late summer, the project is being developed in partnership with local Canadian vendors and suppliers- a deliberate commitment to the community it calls home

History Worth Saving

Vancouver's commercial office leasing market doesn't reward standing still. When Spear Street Capital acquired M2 Main Alley from Westbank, the building carried a full-floor vacancy- a significant liability in a neighbourhood like Mount Pleasant, where forward-thinking companies set the standard for what a workplace should feel and look like. The common areas were understated, darker than the asset deserved, and offered prospective tenants little reason to choose M2 over a competitor down the street. With a new owner at the helm and a clear lease-up mandate, the window to act was immediate. The cost of inaction was measured in empty square footage and missed opportunity.

A Meaningful Return

For Upfield, this project is as much about legacy as it is about real estate. The acquisition marks a deliberate reinvestment in a district rich with character and potential, and the decision to bring Edgar Development and Bridgemans Services Group into the building as co-tenants reflects a shared belief in what 342 Water Street could become. Edit Studios was engaged to design the full building takeover, a mandate that spans ground-floor retail, multiple full-floor office buildouts, and a market-ready show suite, with the heritage fabric of the building as both the brief and the inspiration.

Brick, Beam, and Intention

The design concept is grounded in a simple conviction: the best thing you can do with a building like this is get out of its way…and then elevate everything around it. Exposed brick and worn timber are not obstacles to work around; they are the material language of the project. Edit Studios is layering those existing textures with soft indirect lighting, earthy tones, and a refined modern industrial palette that draws on the spirit of a New York loft while remaining unmistakably rooted in Gastown. Each of the three upper floors has been designed collaboratively yet distinctly- tailored to the culture and working style of Edgar and Bridgemans respectively, while sharing a cohesive design thread throughout. The show suite extends that vision to the next tenant, offering a fully considered, move-in-ready space that speaks for itself. Complementing the design approach is a deliberate sourcing strategy: materials and furnishings are being procured in partnership with Canadian companies local to the neighbourhood, reinforcing the project's commitment to community and place.

A New Chapter

When 342 Water Street opens its doors later this summer, Gastown will have gained something rare: A heritage building that has been genuinely reimagined rather than merely refreshed. The result will be a workplace destination with authentic character, elevated craft, and a design story that is tied directly to the history of the street it sits on. For Upfield, Edgar, and Bridgemans, it is a homecoming. For the neighbourhood, it is proof that the best new workplaces aren't always built from the ground up.

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