Tap & Barrel's Olympic Village restaurant location to see big expansion in time for 2026 FIFA World Cup
According to a new City staff report that provides additional details, Tap & Barrel will invest up to $5 million worth of upgrades at the location over the coming months, reaching completion next spring. There will be no investment by the municipal government, which will also own all of the site improvements.
“The objective is to secure capital investments in the facilities funded by the operator and enhance the revenue potential at the restaurant in time for the 2026 FIFA World Cup 2026 Vancouver event, to take advantage of the influx of visitors to Vancouver and have the venue improvements ready by Q2 2026,” reads the report.
“The 20-year extension to the existing lease will provide the justification for the investment and associated financial risk undertaken by the operator.”
The report notes the upgrades will expand the restaurant’s capacity, create year-round outdoor dining. According to a development permit approved by the City in September 2025, there will be exterior alterations to the restaurant by increasing the exterior patio size and installing a retractable cover and exterior glass enclosure for all-season use.
The Vancouver Park Board will see an increase in revenue from the improvements that add restaurant capacity and improve the allure of the dining restaurant, with the Park Board estimating it will directly result in an additional $1.8 million in rent revenue over the first 10 years of the lease extension. The estimated revenue to the municipal government over the 20-year lease extension is $13.5 million.
The rent paid to the Park Board will be based on the greater of the minimum annual rent or a percentage rent of annual gross revenue.
This supports the City’s long-term sustainability and tourism goals, and aligns with the Park Board’s “Think Big” strategy of generating more revenue through new business opportunities and partnerships.
“It is estimated that the upgrades proposed by Tap & Barrel Group Ltd. will substantially increase gross sales for the operator and associated Park Board revenue, secure a long-term local tenant with a successful track record in the city and a long history operating within Park Board spaces, and better activate public space to enable year-round activity in a growing neighbourhood,” reads the report.
Tap & Barrel currently has seven restaurant locations across Metro Vancouver, including three other locations on government-owned property — at the Vancouver Convention Centre, Granville Island, and The Shipyards in North Vancouver.
Opened in October 2012, the Olympic Village location holds special significance for the Tap & Barrel restaurant chain, as it was the company’s very first. Centrally located and situated along the seawall and adjacent to a major public plaza, it enjoys high foot traffic and offers striking views of False Creek backdropped by Science World, BC Place Stadium, the downtown Vancouver skyline, and the mountains.
The community centre building was constructed as part of the overall Vancouver Olympic Village project for the 2010 Winter Olympics. During the Games, the building was initially used as office space for Olympic operations, working space for media, and amenity space and facilities for athletes. After the Games, it was converted into its current community and recreational centre uses, with a childcare facility and a large commercial unit for the restaurant.
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