Rick Tocchet called the team's ownership in that regard before the season's beginning, and there's been close to no development on the subject since then. Jim Rutherford addressed the subject in an interview, stating that building projects were costly in Vancouver and that the team's ownership had been considering renovating due to the costs.
One of the most valuable franchises in the NHL, the Canucks are one of the only teams not to own a practice facility. You'd have to think that state-of-the-art facilities would be a big selling point when the free agent chase begins.