Billionaire and Lululemon Athletica founder Chip Wilson successfully challenged the assessed value of his Vancouver waterfront mansion, previously considered the most expensive home in British Columbia, reducing it by over $18 million. The B.C. Property Assessment Appeal Board’s ruling on May 28 instructed B.C. Assessment to revise the 2025 assessed value of Wilson’s property on Point Grey Road to $64.4 million from its original assessment of nearly $82.7 million.
Wilson had initially estimated the market value of his home at around $55 million in July 2024. The mansion, spanning 1,460 square meters and constructed in 2013 on a double-sized lot with 57 meters of waterfront, boasts amenities like an outdoor pool, hot tub, tennis court, rooftop patio, and stunning views of Burrard Inlet, English Bay, and the North Shore mountains.
In his appeal, Wilson argued that B.C. Assessment had overvalued his property by focusing on construction costs rather than potential market value. The board agreed, emphasizing the importance of considering market dynamics in property assessments. Chair Audrey A. Suttorp noted that while Wilson’s property stood out due to its size and waterfront location, market behavior must be a key factor in determining its value.
Previously considered the priciest in B.C., Wilson’s home on Point Grey Road has now been surpassed by a residence on Vancouver’s Belmont Avenue, valued at over $71.7 million in 2025.