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  #81  
Old Posted Feb 26, 2025, 7:29 PM
Spr0ckets Spr0ckets is offline
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This has to be one of the least surprising redevelopment applications in recent memory.

That building is a notorious leakage disaster and a poster child for the 1990's leakage era poor condo construction practices that forced the province to considerably tighten up the construction building code standards after the Barrett Commission and the BC Homeowner Protection Office found almost as many as 60-70,000 condo buildings that fell far short of acceptable standards for their envelope intergrity resulting in perpetual leaks and energy loss issues.

In fact, this specific building was so bad it has been deemed a life safety risk that can't be rectified even through refurbishment and the extensive renovation that would be necessary to bring it up to modern code (which would be prohibitively expensive, anyway) so much so that the strata had no option but to seek to sell for redevelopment.
And here we are.

If anything the real surprise is that this redevelopment didn't happen 10 or even 15 years ago.

And it's not the only one in that neighbourhood suffering from these issues.
But it certainly is the most egregious example.

The funny thing is, I know of buildings older than this one, or that were built in earlier periods that are better maintained and have kept better over the years in terms of their envelope and leakage issues - or at least have been easier to refurbish and bring up to modern standards and requirements without first being deemed "life safety risks".

Something about the 1990's and a rapid deprecation of building standards with the buildings built in that era.

At least the eyesore that is their north-facing "solariums"/storage will be gone.
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  #82  
Old Posted Feb 28, 2025, 2:03 PM
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giallo giallo is offline
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I almost forgot to post the photos from the drone flight.































Last edited by giallo; Feb 28, 2025 at 3:50 PM.
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  #83  
Old Posted Feb 28, 2025, 10:58 PM
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These pictures are awesome - thanks!
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  #84  
Old Posted Mar 1, 2025, 12:54 AM
officedweller officedweller is offline
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Do all the suites in that tower have HVAC?
That's a lot of heat exchangers/fans on the roof.
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  #85  
Old Posted Mar 1, 2025, 1:02 AM
Vin Vin is offline
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Quote:
Originally Posted by Changing City View Post
Intracorp paid $41m for the 63 unit strata building. That sounds like they offered to pay something like assessed value, maybe plus a small amount. Only 80% of the owners have to agree to the buyout.

Faced with a potential special assessment that could be at least $200,000 per owner, it's not too surprising that they agreed to sell. There are a number of strata buildings in the Broadway corridor with similar issues that are candidates for redevelopment.
Thanks for the insight and that totally makes sense. I guess it's better to deal with a bit of loss now than having to face potential catastrophes down the road.
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  #86  
Old Posted Dec 13, 2025, 9:45 PM
Feathered Friend Feathered Friend is offline
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5055 Joyce St - Partial Occupancy Permit Issued

Quote:
Occupancy Permit OC-2025-00775 - Issued
Application Date: Jun, 17, 2025
Issue Date: Dec 02, 2025


Details
Occupancy Type: Partial
Use of Building/Premiseshase 1 Partial Occupancy Permit for 36 storeys mixed use building.

The Phase 1 Occupancy includes:
- Level P2
- Level P1
- Level 1, excluding CRU 1 and CRU 2 shell
- Levels 6 to 20

The Phase 1 Occupancy excludes:
- Level P4
- Level P3
- CRU 1 and CRU 2 shell
- Levels 2 to 5
- Level 21 up to the roof level
https://plposweb.vancouver.ca/Public/Default.aspx?PossePresentation=Guest&PosseObjectId=267241641
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  #87  
Old Posted Apr 17, 2026, 7:57 PM
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My pic taken on April 16.

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  #88  
Old Posted May 8, 2026, 8:25 PM
whatnext whatnext is online now
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In receivership as per Howard Chai's substack:

OPTrust Places Westbank's Joyce II Rental Tower In Vancouver Under Receivership
Joyce 2, located at 5083 Joyce Street next to Joyce 1 and Joyce Station, has substantially completed construction.
Howard Chai
May 07, 2026

A substantially-completed rental tower by prominent Vancouver-based developer Westbank has been placed under receivership, according to filings in the Supreme Court of British Columbia, the latest instance of a completed or nearly-completed project becoming insolvent....


https://howardchai.substack.com/p/westbank-5083-joyce-2-vancouver-optrust-receivership



PS with apologies for me thinking this was in Burnaby. East of Fraser is terra incognita for me
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  #89  
Old Posted May 10, 2026, 12:55 AM
jollyburger jollyburger is online now
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Reddit:

Quote:
I did some work in that building. I can tell you that this building is not 100% complete as they opened up this building for occupancy before all the floors were completed. Right now the lowest levels of the parkade are still "under construction."
Quote:
Now for this instance involving Westbank, they hired a construction management company called KCM (they used to be a drywalling company) and they are notoriously bad at their job. There is almost no communications between the trades, multiple meetings being cancelled because not everyone will show up, low quality materials and trades who will cut corners. If you want something that will help you finish your job, you have to actively find someone in charge of the other trade so they can get it done for you. They will not know about your needs because nobody communicates with each other especially when all those meetings keep getting cancelled.
https://www.reddit.com/r/vancouver/comments/1t7ez1v/optrust_seizes_famous_canadian_developer/
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  #90  
Old Posted Jun 9, 2026, 9:06 AM
Feathered Friend Feathered Friend is offline
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June 3, 2026 - My photos









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  #91  
Old Posted Jun 10, 2026, 6:36 PM
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Wow, looks great from your shots.
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