Grab a medium saucepan and add in water, granulated sugar, and brown sugar. Mix until the sugar is dissolved into water. Note: Do NOT heat the saucepan at this point.
Next, add in the cinnamon sticks and ground cinnamon to the saucepan and mix in with the other ingredients.
Turn the stovetop onto medium heat. Bring the mixture to a low boil, then reduce heat and simmer for 10 minutes, stirring regularly. The syrup will begin to thicken slightly over time.
Remove the saucepan from heat and add in the vanilla extract. The mixture is now officially syrup.
Allow the syrup to cool for 5-10 minutes, then store in an airtight container.
Enjoy your Cinnamon Dolce Syrup! Use in place of vanilla syrup to transform your vanilla latte to a cinnamon dolce latte.