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  #11  
Old Posted Mar 30, 2012, 10:09 PM
officedweller officedweller is offline
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Join Date: Jul 2001
Location: Vancouver
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From the Record:

Quote:
Developer drops out of civic centre project
By Theresa McManus, The Record
March 30, 2012

In the fall of 2010, the City of New Westminster selected the Uptown Property Group as the developer to collaborate with on the multi-use civic facility project that's being built at the corner of Eighth and Columbia streets. The Uptown Property Group had proposed to build a 100,000-square-foot office tower above the city's 80,000-to 85,000-square-foot civic facility.

"We are no longer involved in the pro- ject," said Bart Slotman, vice-president of Uptown Property Group. "We stepped out of it for business reasons. I don't want to get into the details of that."

.....

"What it means is we are currently searching for a new partner," said Coun. Bill Harper. "It's been going on for the last few months."

...

"We are going to look at the options we have available," said city administrator Paul Daminato. "When we have a better idea what options we are going to have, we will have a better idea of the financial implications, if any."

...

Although Uptown Property Group is no longer partnering with the city to build the office tower, Daminato is confident that an office tower can still be built at the site. He said it's a great opportunity for a developer to get involved in a "great project" that has a "great design."

"There is still that option available," he told The Record. "Other partners are pushing us. We are talking to some other interested parties."

The City of New Westminster is building a $35-million multiuse civic facility with casino funds known as development assistance compensation. The four-way agreement, which was signed by the City of New Westminster, the B.C. Lotteries Corporation, the provincial government and Starlight Casino, states that the project must be completed by Dec. 31, 2013.

In 2010, the city launched an expression of interest process indicating its desire to partner with a developer.

The proposal from UPG was the only submission that offered office and employment-generating market uses.

The city's portion of the civic centre will include a 350-seat theatre with flexible seating to accommodate a variety of productions, conference and meeting space, art studios, an art gallery, tourist information centre and the city's museum and the Canadian Lacrosse Hall of Fame.

The City of New Westminster held a groundbreaking ceremony for the civic centre in September 2010. The first stage of construction included underground site servicing, excavation of the underground parkade and shoring of the excavation walls for three levels of underground parking.

Daminato said work on the multi-use civic centre project is proceeding as planned.

"They are still finishing off the excavation work that had to be done. There is some additional shoring that needs to be done," he said. "Tenders are out for the first part of the construction. We are anticipating staying on schedule."

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