Another cancellation, this one was expected, wonder if the Lougheed/Willingdon project will be next.
CONDOMINIUM APARTMENTS & TOWNHOUSE DEVELOPMENT Proj: 7239097-6 New Westminster, Greater Vancouver RD BC CANCELLED/DEFERRED
Larco Downtown Waterfront Proposal, 600-700 Block of Front St, V3W
$300,000,000 est
Note: This project is on indefinite hold; further update in late 2009/2010.
The architect requests NO PHONE CALLS please.
Project: The proposed development may include the following: five condo towers with a ttl of 886 +/- units; 24 townhouse units; four-sty parkade with approx 1,242 stalls; a public waterfront esplanade area; new vehicle overpass at 6th Street; two pedestrian bridges; new level crossing at 8th Street.
Scope: 950,000 square feet; 7 structures; 911 units; parking for 1242 cars
Maybe I'm being an optimist but indefinite hold doesn't = cancellation. It just means that, it's on hold and most likely will be pending a market turn around. Who knows though.
The problem is it was already on hold during the last bust, it couldn't get going during this long extended boom I can't see it happening at a future date.
Could also explain why the City is looking at it internally.
Another cancellation, this one was expected, wonder if the Lougheed/Willingdon project will be next.
CONDOMINIUM APARTMENTS & TOWNHOUSE DEVELOPMENT Proj: 7239097-6 New Westminster, Greater Vancouver RD BC CANCELLED/DEFERRED
Larco Downtown Waterfront Proposal, 600-700 Block of Front St, V3W
$300,000,000 est
Note: This project is on indefinite hold; further update in late 2009/2010.
The architect requests NO PHONE CALLS please.
Project: The proposed development may include the following: five condo towers with a ttl of 886 +/- units; 24 townhouse units; four-sty parkade with approx 1,242 stalls; a public waterfront esplanade area; new vehicle overpass at 6th Street; two pedestrian bridges; new level crossing at 8th Street.
Scope: 950,000 square feet; 7 structures; 911 units; parking for 1242 cars
Man this project has been around for ever and never seems to be able to move forward. Its almost two decades since its been approved, a few years ago they made some changes that also got aproved and still nothing. This project would improve downtown New Westminster more than any other project.
The problem is it was already on hold during the last bust, it couldn't get going during this long extended boom I can't see it happening at a future date.
Could also explain why the City is looking at it internally.
Mentioned this in the Infinity thread but figured I might as well post it here too:
Pinnacle's "The pier" development on Lonsdale in North Vancouver has been put on indefinite hold, pending new sales and a release in the credit market. The crane currently up at the site will be disassembled soon.
Mentioned this in the Infinity thread but figured I might as well post it here too:
Pinnacle's "The pier" development on Lonsdale in North Vancouver has been put on indefinite hold, pending new sales and a release in the credit market. The crane currently up at the site will be disassembled soon.
Shit shit shit. I was looking forward to that development more than anything. Lower Lonsdale is so depressing in its current form.
Also wondering about the hotel. Most of the building is up already. Maybe it'd be fitting to have a North Korean style skeleton right at the foot of Lonsdale.
Mentioned this in the Infinity thread but figured I might as well post it here too:
Pinnacle's "The pier" development on Lonsdale in North Vancouver has been put on indefinite hold, pending new sales and a release in the credit market. The crane currently up at the site will be disassembled soon.
Not really surprising. The pre-sales market has been dead throughout Vancouver for several weeks, from what I've heard.
Well quite a bit has been completed actually, as the project is quite large. So far to my knowledge, two towers have been completed and occupied on the north side of esplanade and the hotel which is U/C will be completed. What is stopping is the new condo which just had a crane errected and the final phases of the project which would have seen more condos and improvements to the waterfront. These will almost assuredly go ahead, just likely a few years down the road.
*I am not 100% sure on the hotel being completed, but I am assuming it will be because I only heard about the stop on the condo portion.
So far, they've finished everything north of Esplanade: two towers both about 20 storeys, a midrise between them, and the low rise on the northeast corner at Lonsdale. The hotel is u/c and either topped out or close to it.
I guess that means the National Maritime Museum is toast, too. Was it already toast for lack of federal government funding?
Mentioned this in the Infinity thread but figured I might as well post it here too:
Pinnacle's "The pier" development on Lonsdale in North Vancouver has been put on indefinite hold, pending new sales and a release in the credit market. The crane currently up at the site will be disassembled soon.
New article in the North Shore News about this. Looks like it's still going to be built, just in slow phases instead of all at once?
Pinnacle plans to eventually develop a total of 13 land parcels on the waterfront site, comprising a total of 1.16 million square feet of residential and commercial floor space. Once the current construction wraps up, Pinnacle will move on to developing a 20-storey condominium tower, several lower rise residential developments, and a four-storey office building.
De Cotiis said those developments will be constructed in phases, not all at once as the developer had planned when the housing market was hot.
Although the economy has hit hard times and the market is slowing down, Penway said he's not worried about Pinnacle completing their portion of the waterfront development.
"We're hopeful. It's a good project, and it's going to keep going. This is a pause, not a stoppage."
He did speculate, however, that tough economic times might have been an incentive for Pinnacle to slow down construction. "To try and market all of these units now might not be the wisest thing to try to do."
Pinnacle is also converting several heritage shipyard buildings to be used for the proposed national maritime centre.
Lots of info regarding the Spirit Trail in the following RFP. I've saved a copy of it just in case this one dissappears as well. If someone wan'ts to take the time and dissect the info and post it that would save others some time. Enjoy.
New article in the North Shore News about this. Looks like it's still going to be built, just in slow phases instead of all at once?
Well that's essentially what I was saying... but by slow phases i was more thinking indefinite hold for anything that wasn't the hotel. From what I have heard they will finish the hotel but put the rest of the project on indefinite hold until market/credit conditions improve. Then they will slowly put the project back on track. This development will still be realized, just far later that initially planned. I have a feeling we are going to be seeing a lot of this... nothing completely canceled, just deferred indefinitely.
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I was looking forward to that development more than anything. Lower Lonsdale is so depressing in its current form. 
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