Quote:
Originally Posted by Chirpythecougar
Any thoughts as to why Phase 2 keeps being pushed back? My understanding is that the Feds gave them a loan for Phases 1 + 2 so I would hope they can at least complete Phase 2.
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I mean even with a loan you don't want to create a bunch of product that people don't want or forces you to cut rental rates on Phase 1. When Westbank sold off their interest they said they were in the process of finishing the financing for Phase 2.
The credit union building is still for sale so I don't think that's playing a factor.
https://www.cbre.ca/properties/comme...lumbia-v6j-4s8
This says it's a fixed low interest loan for 10 years from CHMC
https://www.tandfonline.com/doi/full...2484043#d1e486
Back in 2019 Westbank needed to raise $3 billion for the construction financing
https://thetyee.ca/News/2019/12/04/S...sal-Kitsilano/
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