Quote:
Originally Posted by vanman
Fencing is up along Boundary and Kingsway. Vegetation is being removed along the northwest side of the site. I'm wondering if both phases are going ahead simultaneously or just demolition work for phase 2 along with phase 1 construction.
......
|
I'm actually impressed and stoked that this one seems to be moving forward with some pace right now.
I was worried it would get stuck in development permit application hell for several years like a lot of projects of this ambitous nature are wont to.
I would guess they're only going to do phase 1 first since - in addition to its larger scale - Phase 2 is probably also the phase that will be tied to a possible establishment of a new skytrain station there that the developers are also proposing, and which it seems the city is open to, or at least amenable to considering.
Doing the rental towers first (which is what the city would prefer) would theoretically sweeten the pot for the city to look kindly on greenlighting a Phase 2 with a skytrain station (...again, with Translink's approval, if they give their blessing).
Also, If you're proposing a new skytrain station you want to be able to make the argument for it existence with the backing of already existing ridership in the area (and with more to come in the phase two towers), which they'll theoretically have in the form of the phase 1 rental tower occupants (....along with the next door Wall Centre Central Park development occupants and other residents in the surrounding area).
It also gives them time to wait out a more stronger recovery of the condo and office markets - which is what phase 2 mostly consists of.
The possibility of that new skytrain station is what's making this one of the most interesting projects to come being proposed in the Metrotown/Boundary Rd area in the coming years for me.