---
title: "Canada opens bidding for defence bank HQ, Vancouver submits two downtown offices"
description: "The federal government launched formal bidding on November 13 for a new international defence bank headquarters. Vancouver has identified Telus Garden and The Exchange as candidate sites, and the city bid deadline is December 3."
canonical_url: "https://voche.me/news/dsrb-defence-bank-vancouver-bid-december-2026"
last_updated: "2026-11-15T03:09:58.006Z"
---

Canada opened formal bidding on November 13, 2026 for the headquarters of the Defence, Security and Resilience Bank, a NATO-backed institution that would bring up to 700 jobs to whichever Canadian city wins the competition. Vancouver's preliminary submission named two downtown office towers as candidate sites.

Daily Hive Vancouver reported that Canadian municipalities now have until **December 3, 2026** to submit 20-page proposals to Canada's Defence Investment Agency.

## What the bank is

The DSRB is a new global financial institution that will provide long-term, low-cost financing to NATO member countries and allied nations. Daily Hive Vancouver reported that all six of Canada's major banks are partner institutions, including BMO, RBC, CIBC, Scotiabank, TD, and National Bank. The bank is expected to begin operations in 2027, following an articles-of-agreement signing on November 30, 2026 in Luxembourg.

Federal Finance Minister Francois-Philippe Champagne said in the report: "Hosting the DSRB's headquarters is an exciting opportunity. It will attract international talent, investment, and specialized financial expertise to Canada."

## Vancouver's two proposed sites

Vancouver's preliminary bid named two downtown locations.

**Telus Garden at 510 West Georgia Street** is a 24-storey LEED Platinum-certified building. Daily Hive Vancouver reported that about 160,000 square feet became available after Amazon moved out in July 2026, with another 88,000 square feet available via sublease through September 2035. The building already carries communications and security infrastructure for handling sensitive information.

**The Exchange at 475 Howe Street** combines the historic Old Stock Exchange Building with a 31-storey LEED Platinum tower. Daily Hive Vancouver reported that about 90,000 square feet across seven floors is available, with separate secure access, through a sublease until December 2028.

## What the competition requires

The federal government's requirements start small. Daily Hive Vancouver reported that the winning city must provide about 7,500 square feet of Class A office space within six months of selection. That space could grow to 500,000 square feet over time.

Staffing would start at about 50 employees and grow to about 700 within 10 years, according to the report. That is lower than earlier figures of 3,500 jobs that had circulated during Vancouver's campaign for the bid.

Federal evaluators will assess each city on banking and defence expertise, universities and research institutions, skilled workers, international airport connections, digital infrastructure, security capabilities, housing availability, schools, and service in both English and French.

The selection process goes through Doug Guzman, CEO of Canada's Defence Investment Agency, who will give a shortlist to Prime Minister Mark Carney and the federal finance minister for a final decision.

## Other cities competing

Daily Hive Vancouver reported that Toronto, Ottawa, Montreal, and Halifax are also competing for the headquarters. BC Premier-designate Lorne Doerkson called Vancouver "a natural choice," citing the province's "stability, innovation and global outlook" for long-term defence investment.

A European hub office will be in Luxembourg regardless of which Canadian city wins. Vancouver's December 3 bid submission is handled through the city's economic development office.

## Sitemap

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