Downtown Vancouver Updates - Page 181

Locked In · #**3601** Posted **May 15, 2009, 5:35 AM**

Photos taken by me today of two projects downtown:

Atelier:

Dolce & Vita:

officedweller · #**3602** Posted **May 15, 2009, 6:26 PM**

Nice, thanks.

The glass on Atelier is pretty ordinary (with ugly spandrel panels).
Dolce forms a nice street wall (taller than the Seymour sie) across from the future park on Richards.

Architype · #**3603** Posted **May 20, 2009, 1:48 AM**

In case it hasn't been posted before, there is a whole list of delayed Vancouver projects here:
http://www.vancouver-real-estate-direct.com/nogo/delayed.html

jlousa · #**3604** Posted **May 20, 2009, 2:00 AM**

That site isn't very good, neither Maynards nor Richards are on official hold, Richards can't proceed until the current lease is up. They are missing James which is on hold though. Jameson is back online and has been for about a month now. The Pier I'm pretty sure is active as well. And Cosmo never even had sales start so it's can't be delayed, and it's going ahead very shortly as well.
Looks like a site put together by real estate bears. Would look better if they did their homework.

Architype · #**3605** Posted **May 20, 2009, 2:03 AM**

Glad to hear there's some good news then.

officedweller · #**3606** Posted **May 20, 2009, 7:10 AM**

Last I heard about Richards is that it'll proceed as rental units.

Locked In · #**3607** Posted **May 20, 2009, 3:00 PM**

Quote:

Originally Posted by jlousa

Note exactly sure what pavco has planned with this, seems like they are spending a ton of money on Canada Place though. Does anyone have any insight on this I can't make too much sense of it. Work will start post games and will be ready late 2010/early 2011.

There's an article in today's Sun about the potential updates:
edit: beat to it by seconds...

Quote:

Popular tourist destination could be getting a facelift

By BRUCE CONSTANTINEAU, Vancouver Sun - May 19, 2009

The Imax theatre at Canada Place may be redeveloped after the 2010 Games.
Photograph by: Andy Clark, REUTERS

The future of the Imax theatre at Canada Place — which debuted 23 years ago at Expo 86 — appears uncertain as officials look to redevelop the popular tourist destination.

Canada Place Corp. has issued a request for proposals to revamp the 30,000 to 40,000 square feet of space that includes the 440-seat theatre with five-storey-high screens and a waterfront observation deck.

Canada Place representative Robyn McVicker said Tuesday the facility is in the midst of a “major revitalization” as it strives to complement the new Vancouver Convention Centre expansion.

“We’re looking to turn the theatre and observation deck into a new exciting visitor experience — what we’re calling the premier Canadian experience,” she said. “We want a partner that can create a long-term situation and invest in the future of this premier Canadian destination.”

McVicker said Canada Place is open to any suggestions, and possible options include a restaurant, a community theatre/arts facility, a first nations exhibit or a “Cirque du Soleil” place.

“There are limitless opportunities and we want something that really aligns with our brand,” she said.

Imax executive vice-president Mark Welton said the Canadian-based large-format cinema chain hasn’t yet decided if it will submit a development proposal.

The company’s long-term lease at Canada Place expired two years ago and it leases the space on a monthly basis.

“I plan on going out soon to learn their long-term plans and see if it makes sense for us to continue our partnership with Canada Place,” he said from from Mississauga, Ont.

Imax operates 371 theatres in 43 countries, but Welton noted the Canada Place theatre was the company’s first 3-D theatre in the world.

“It has been a flagship location for us and Canada Place has been a good partner,” he said. “If it makes economic sense and we can share the experience with the people in Vancouver, there’s probably a good opportunity for us.”

[email protected]
© Copyright (c) The Vancouver Sun

Source: Vancouver Sun

Coldrsx · #**3608** Posted **May 20, 2009, 3:29 PM**

Atelier is far further ahead than i thought it was... i quite like this one.

LeftCoaster · #**3609** Posted **May 20, 2009, 4:26 PM**

Quote:

Originally Posted by jlousa

That site isn't very good, neither Maynards nor Richards are on official hold, Richards can't proceed until the current lease is up. They are missing James which is on hold though. Jameson is back online and has been for about a month now. The Pier I'm pretty sure is active as well. And Cosmo never even had sales start so it's can't be delayed, and it's going ahead very shortly as well.
Looks like a site put together by real estate bears. Would look better if they did their homework.

Pier is definitely active, at least the formworkers are back on site that much I can confirm.

OD where did you hear Richards will proceed as rental units? That would be a welcome site for the DT peninsula. First Wall looking at building rental units and now Aquilini? Seems they are really trying to take advantage of these cheap construction costs and low interest rates.

sacrifice333 · #**3610** Posted **May 20, 2009, 4:40 PM**

If you've got the pockets its a great time to build.

Those gents would both make sure the units remained strata so that they could sell them in the next boom.

LeftCoaster · #**3611** Posted **May 20, 2009, 4:42 PM**

Or just sell the entire building to a REIT...

But yes it is a great time to be a developer with a bit of cash. Take things slow, buy up some property and take advantage of cheap construction prices when appropriate.

phesto · #**3612** Posted **May 20, 2009, 4:55 PM**

Quote:

Originally Posted by LeftCoaster

OD where did you hear Richards will proceed as rental units? That would be a welcome site for the DT peninsula. First Wall looking at building rental units and now Aquilini? Seems they are really trying to take advantage of these cheap construction costs and low interest rates.

It was mentioned in the news back in December that Aquilini would consider the rental option if the pre-sales market didn't recover by spring. I haven't seen any official announcement, but it sounds as though they plan to proceed with construction as rental.

johnjimbc · #**3613** Posted **May 20, 2009, 4:58 PM**

I don't understand one of the earlier comments about Atelier. The photos posted here don't show any glass on that tower yet. How can anyone assess that the glass looks - or will look - plain?

I just thought maybe someone confused it with Dolce / Vita photos, one of which does have glass on it (still covered in the blue coating). Or perhaps someone was looking at the buildings in the photo of Atelier that are actually buildings next to the new construction.

I think Atelier will look good, based on what can be seen now as compared with the original artist concepts. The structure of the podium has an impressive scale, and the curve on the part facing Robson Street should look nice.

It is always hard to make an assessment until the building is completed, but I just didn't understand how anyone can judge the windows at this point.

johnjimbc · #**3614** Posted **May 20, 2009, 5:01 PM**

I just looked again and it sort of looks like there may be a few panels on the lowest tower level of Atelier. But I'm not sure that is complete. Some are missing, and from the photo it looks like some of the few panels in sight might even be boards right now. I don't know if I'd make a judgment based on that one sketchy photo.

LeftCoaster · #**3615** Posted **May 20, 2009, 5:28 PM**

Look at the first picture again Johnjim, there is definitely glazing visible on the first and third floors above the podium. And yes it does look quite boring.

osirisboy · #**3616** Posted **May 20, 2009, 5:51 PM**

the glass is a bit boring however the glass railings on the balconies are going to be tinted blue which should make it much more interesting to look at. (and thanks for the pics lockedin)

Yume-sama · #**3617** Posted **May 20, 2009, 6:01 PM**

Atelier will actually be quite nice. I was a perspective buyer at the time, but missed the sale date and it sold out

Not too bitter about that, now...

johnjimbc · #**3618** Posted **May 20, 2009, 6:37 PM**

You could end up being right about the glass, but I just don't think you can tell from that one photo.. It doesn't even make sense why some of the panels in that photo that look like spandrels would be spandrels.

And I don't see any of that when I look back at the artist concept drawings. Yes, I know there is a reason those are considered "conceptual" and not reality, but you can typically tell what is real glass and what is a panel in them. And it looks like a lot more glass that what shows in that first photo.

officedweller · #**3619** Posted **May 20, 2009, 7:00 PM**

Quote:

Originally Posted by johnjimbc

You could end up being right about the glass, but I just don't think you can tell from that one photo.. It doesn't even make sense why some of the panels in that photo that look like spandrels would be spandrels.

It looks blah in person (I'm not judging solely from that pic). The spandrels may come up to waist height if the kitchen counters or bathtub abut the curtain wall - those are definitely spandrel panels.

Kodii · #**3620** Posted **May 20, 2009, 7:06 PM**

Quote:

Landmark Bentall building sells for $300 million

By Derrick Penner, Vancouver Sun May 20, 2009 11:50 AM

The landmark Bentall V office tower in downtown Vancouver has been sold to a German investment firm for $300 million, the companies involved in the transaction reported Wednesday.

The german firm Deka Immobilien Investment GmbH made an unsolicited bid to buy the 33-storey, 583,000-square-foot office tower, the last major office building to go up in the city's downtown core, from its developer, SITQ, the real estate subsidiary of the Quebec pension fund Caisse de depot et placement du Quebec.

Deka secured commercial realtors CB Richard Ellis to seek out and acquire a Class A building in Vancouver as a means to diversify its portfolio "in an attractive and sound location with good growth prospects," Deka's Thomas Schmengler, managing director, said in press release.

Yves-Andre Godon, SITQ's managing director for Canada, said "continued foreign demand for top-quality assets in Canada's leading business centres combined with limited offerings in the market during the first hald of 2009 created the opportunity to execute this successful unsolicited trasaction."

Godon added that SITQ will now remain "on the look out for opportunities that meet its business objectives."

© Copyright (c) The Vancouver Sun

Source: The Vancouver Sun -- http://www.vancouversun.com/Landmark+Bentall+building+sells+million/1613079/story.html