i wonder if that's why they demolished that fido building on georgia - to accomodate a larger budget car rental in lieu of the one that will close on richards (where phase II of emery barnes park will be).
either way, that park expansion will do wonders for the area.
i wonder if that's why they demolished that fido building on georgia - to accomodate a larger budget car rental in lieu of the one that will close on richards (where phase II of emery barnes park will be).
either way, that park expansion will do wonders for the area.
no, thats a hertz car rental adjacent to the park not budget.
"....In order to facilitate the Company's focus on innovative ocular drug delivery, QLT plans to continue its divestment of non-core assets, including selling the vacant property adjacent to its headquarters in Vancouver, British Columbia. In addition, the Company plans to monetize the value built up in its headquarters by obtaining a mortgage or other financial structures."
My audit partner just finished auditing this firm 4 months ago. I can't say much because of confidentiality, but risk was written all over the audit working papers...
Re: QLT, I've heard anecdotally that they made all their money in the dot-com boom period when they had some sort of break through and their stock climbed pretty high. I know someone who got out a while ago and is independently wealthy now. I don't know anything about the company but selling off their unused land is a prudent thing to do if funds are running low, especially with the going rate for property these days. It beats diluting their stock value with a significant share issue. Mortgaging the place is less encouraging...
Nobody ever said biotech was a sure thing.
__________________ VANCOUVER | Beautiful, Multicultural | Canada's Pacific Metropolis
I walked down Blood Alley today in Gastown to take a look at the rear of Terminus. Looks like they'll be complete in a few months.
They've also started to gut the coartyard for The Garage building. Shame, as it was a nice courtyard, but the places in the courtyard were never very busy.
So, in the not too distant future we'll have three very nice buildings along Water Street backing onto Blood Alley - Salt restaurant, Terminus and Garage.
The thing that gets me is that Blood Alley could be a great place for "regular" people to hang out as it is a very nice setting in a historic area. The problem is that the (historic, and potentially very nice) apartments on Cordova that also back onto Blood Alley have been given to young crack addicts! I wonder what the new residents of Terminus and Garage will think of this?
Maybe those buildings on Cordova will eventually be redeveloped too.
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Raffles looks almost topped out. Looks good. Definitely a "non-standard" podium - for the better! Waiting to see how all the pseudo-randomly-placed spandrel glass will look when the plastic comes off - they touted it as a design feature on the tower.
Sure makes the Hampton Inn look tiny!
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Thanks for the pics.
What's the tallest tower in the first pic? Is that "Stella" up at Kingway and 12th? I recognize the former Biltmore and the condo next to it and the 1 Kingsway project (all raw concrete).
Any idea why the Erickson is taking so long to come up? Does it have geothermal heating or something?
Sapphire has topped out. I know everyone hates the glass, but the building looks really good from its narrow side (looking from further down Pender). Appears slender and taller than it is. Different looking than most condos (from that angle only!).
The vacancy rate in the Greater Vancouver office market fell to a seven-year low of 4.8 per cent in the third quarter, Colliers International said yesterday. "The last time the overall vacancy rate for Metro Vancouver fell below five per cent was at year-end 2000, when it was at 4.6 per cent at the height of the dot-com era," Colliers said.
Face rates for prime downtown Vancouver class AAA space have reached a record high of $45 per square foot -- up from $40 in the first quarter, Colliers said. Even with limited inducements, net effective rates downtown have surpassed $40 per square foot.
The strong loon is not expected to have a large impact on the Lower Mainland office market. Still, it's possible that U.S. firms moving parts of their operations, such as call centres, to Canada may reconsider this decision over time, given that the competitive advantage of a stronger dollar no longer exists, Colliers said.
The old Capitol 6 Granville Street entrance/passage (which was previously stripped to bare concrete walls) is being fitted out with steel beams - looks like the retail (whatever is going in) is starting to take shape.
And a banner is back up for the IGA MarketPlace at L'Hermitage - coming Fall 2007.
Fido is completely demolished - the Robson & Homer building (L'Atelier site) is completely demolished - the second Orpheum parkade (fronting Richards St.) is completely demolished
- strange how each of these stuctures had no basements - just dirt.
There 's enough retail space at the Ritz for both a supermarket and a drug store. SDM's move is probably due to the success of the Homer St. location with the grocery section. But if it is co-located with a supermaket, their grocery sales may suffer.
^I suspect that's been the case for the SDM at Lonsdale Quay, which also has a "groceries section". It probably hasn't been as successful as it should be since an IGA Marketplace opened up beside it at the same time.
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