In an interview on CBC Radio One's On the Coast, Deal said the City will look at land-use and zoning restrictions as ways of preserving the iconic hotel.
The Waldorf is currently zoned as industrial and it would take extensive community consultation to change that, Deal said.
Deal also points out that the Grandview-Woodlands neighbourhood is in the midst of a community planning process. This means the City will only consider re-zoning applications in extraordinary circumstances.
Deal said that Solterra, the Delta company that recently purchased the Waldorf property, is aware of the current zoning and should not expect it to change.
She said the City will create a "Statement of Significance" for the Waldorf where a heritage expert would assess its cultural value. News of the Waldorf's closure has caused an uproar within Vancouver's arts and culture community. More than 15,000 people have signed an online petition to save the hotel.
A rally to support the Waldorf will be held at Vancouver City Hall on Tuesday.
The group that reinvigorated the property back in 2010 is still set to leave the premises on Jan. 20.