Downtown Vancouver Updates - Page 124

jlousa · #**2461** Posted **Oct 17, 2008, 10:22 PM**

It is starting to sound like RC will be killed. I can't confrim yet but the rumours are getting louder. Either way we'll know by year end.

AlexYVR · #**2462** Posted **Oct 17, 2008, 10:23 PM**

Quote:

Originally Posted by osirisboy

is this just your personal opinion or are you basing this on something?

My comment was regarding the fact that

a) they don't have a construction agreement with a developer

b) the credit market is crunched

Home/condo prices are down across the lower mainland, this is a building that is asking an exorbitant amount of money for (as people on this board have said) dubious floor layouts, and they have no construction deal. Although this is purely my own opinion. . .I would say we see a wait period on this guy.

Metro-One · #**2463** Posted **Oct 17, 2008, 10:36 PM**

All i can say is —! If the nicest tower proposed in BC (in my opinion) is cancelled i am going to be beyond disappointed. Having a big hole in the ground is no better then a skeleton tower, at least the skeleton tower had some history and could have been a good set for filming! If this is cancelled I truly hope it is replaced with a nicer design (which i doubt). Any tower that is put in this spot better AT LEAST match its height if not surpass. I will really really angry is a short under 100m tower goes in its place. Here is a suggestion, why doesn't the federal government build a 180 meter plus tower on that site and move all of its government offices that are spread out throughout the downtown core into one tower. This would also free up a good chunk of office space downtown.

vanlaw · #**2464** Posted **Oct 17, 2008, 10:54 PM**

Quote:

Originally Posted by Metro-One

Here is a suggestion, why doesn't the federal government build a 180 meter plus tower on that site and move all of its government offices that are spread out throughout the downtown core into one tower. This would also free up a good chunk of office space downtown.

Given that the feds just sold off most of their downtown real estate (Sinclair Centre, Green Building on Burrard etc.), I can't see them getting back into the business of having a tower built.

LeftCoaster · #**2465** Posted **Oct 17, 2008, 10:59 PM**

It is very doubtful that when this project is realised it will be a short tower... the economics just dont make sense. For this project for be a financial success it would need to make the most of its allowable densities.

Also keep in mind this tower has the zonging possibility to be as tall as shangri-la, so maybe if it does get axed it will come back taller. Unlikely, but somehting to keep you guys from going into complete dispair when this thing is publically oficially canceled.

jlousa · #**2466** Posted **Oct 17, 2008, 11:14 PM**

I don't see the tower going taller, they already had to add the twist to get away from the view cone otherwise it would've been shorter.
If this tower is cancelled which it appears it might be, it won't be due to lack of funds or lack of sales, their was enough to make it viable.
What would kill it is that they have dragged their feet for too long and can no longer meet their deadlines. The Ritz-Carleton will probably walk killing the whole project.

AlexYVR · #**2467** Posted **Oct 17, 2008, 11:18 PM**

Quote:

Originally Posted by LeftCoaster

It is very doubtful that when this project is realised it will be a short tower... the economics just dont make sense. For this project for be a financial success it would need to make the most of its allowable densities.

Also keep in mind this tower has the zonging possibility to be as tall as shangri-la, so maybe if it does get axed it will come back taller. Unlikely, but somehting to keep you guys from going into complete dispair when this thing is publically oficially canceled.

As Jlousa sort of just mentioned, only PART of this site has the zoning to be as tall as the Shangri-la - thus necessitating the twist, which in my opinion made this tower worth it. It had a reason to twist beyond derivation. This is also why the Shangri-la is triangular - it's 'sucking in' to avoid the view cone.

A different design/tower on this site would need to be twisted/triangular/extremely slim to pull off 600 ft.

LeftCoaster · #**2468** Posted **Oct 17, 2008, 11:23 PM**

Hey come on Jlousa... I was trying to give some hope! Afterall the zoning does allow for a tower as tall as SL. And I doubt this tower would ever go taller, as it would throw off the geometry, but if it was canceled and a new design took its place it would certainly be feisable... especially with a competent developer.

And technically the Ritz-Carlton can legally walk at any point, as they had a clause within their contract stipulating concrete construction deadlines that were not even close to being met by Holborn. It is entirely possible they have already walked and that is why the Ritz themed hoarding on Georgia was torn down a week or so ago.

Metro-One · #**2469** Posted **Oct 17, 2008, 11:33 PM**

The hotel georgia better be completed without any problems, i at least want Vancouver to have gained two towers over 150m during our extremely long boom. And if Vancouver is going to lose its second tallest tower then i hope Toronto and calgary lose some as well. Sorry, but i'm in a sour grapes mood now. It seems that so many good things came into place at the wrong time - Surrey finally was able to get its act together and had hopes of 50 stories + signature towers to be in place in the near future plus as sea of many 30 to 40 story towers, i think we can all determine that wont happen for a longtime now, and when the time does come we will probably have another sprawl city council in place. The same story goes for Kelowna and the suburbs of Victoria. Both of these areas got the ball rolling at the very end of the boom, just in time for a huge bust. Ok, going on a doom and gloom rant, i hope time proves me wrong!

phesto · #**2470** Posted **Oct 17, 2008, 11:36 PM**

Quote:

Originally Posted by LeftCoaster

It is entirely possible they have already walked and that is why the Ritz themed hoarding on Georgia was torn down a week or so ago.

This was one of my first thoughts as well, but they were actually modifying and reinforcing the hoarding at the time so I didn't read to much into it; plus the name is still plastered all over the sales centre half a block away...

If this project doesn't move forward it's a shame because it wasn't about market timing or financing, just seemingly poor execution on Holborn's part as Jlousa referred to.

Meanwhile, I'd expect at the pace they've been going, excavation will be done before xmas...

giallo · #**2471** Posted **Oct 18, 2008, 1:01 AM**

Ugh. It's oh so reminiscent of the whole 687 Howe debacle. Didn't that building end up canceled due to foot-dragging and poor financing? Sigh. What would have been two of Vancouver's greatest......

Rusty Gull · #**2472** Posted **Oct 18, 2008, 2:41 AM**

Quote:

Originally Posted by osirisboy

is this just your personal opinion or are you basing this on something?

Do the math.

The project has been marred by delays, dithering and in-fighting.

The condo and hotel markets in downtown Vancouver are arguably saturated -- especially at the luxury level.

We are in the midst of a historic financial crunch, with much smaller projects across the Lower Mainland having already been frozen or killed.

It ain't over til it's over, but the big picture looks dismal for a project of this scope and cost.

Yume-sama · #**2473** Posted **Oct 18, 2008, 5:08 AM**

Maybe that site is cursed... but say it ain't so! Ritz Carlton, we need you!

If they walk away maybe we can get like... a Waldorf Astoria or... Park Hyatt like the ones in Tokyo, Shanghai, Beijing. Talk about dreamy.

raggedy13 · #**2474** Posted **Oct 18, 2008, 10:12 PM**

Apparently the Loden opened today:

Quote:

The week in travel: Hotel Loden Vancouver finally opens

The Independent
Saturday, 18 October 2008

Today: The hotel Loden Vancouver and its Voya Restaurant finally open, a year after the expected date (lodenvancouver.com).

http://www.independent.co.uk/travel/news...oden-vancouver-finally-opens-964851.html

PopYourColla · #**2475** Posted **Oct 19, 2008, 3:26 PM**

Governor's Tower looks to be getting a window upgrade. The windows that have been replaced so far are noticeably more mirrored with a greenish colour glass.
All photos by me: