Olympic Village & Southeast False Creek Updates Discussion

[dleung]

Originally Posted by officedweller

Decks facing Cambie Bridge would actually provide some shade on the west side for th suites and mitigate people being able to look directly into a suite (like you can at the one Cooper's Park building) if the resident puts some planters or other "stuff" on the balcony.

Everyone knows balcony overhangs are useless for shade on the west side of a building =)

[Micky Luv]

Nanaimo city council members have decided to sue Millennium Development and Suro Development for failure to complete a downtown hotel.

The city announced early yesterday it will take legal action to recover more than $3 million.

The city paid about $800,000 for project management fees and another $2 million in project development fees, which was expected to be returned to the city once the agreement expired.

Mayor John Ruttan said he sent a letter to Millennium asking for the money, but the company's lawyer responded, saying Millennium has upheld its end of the agreement.

The hotel component of the $75-million Port of Nanaimo Centre was supposed to be completed in 2008, just after the conference centre had opened its doors for the first time. The city started paying $71,500 a month in project development fees and $20,000 a month in September of 2004, which was supposed to continue until project completion.

Millennium has been dogged by its inability to secure financing for the project, but even more so for the difficulties it had finding investors to build the athlete's village for 2010 Winter Olympics in Vancouver.
© Copyright (c) The Victoria Times Colonist

Read more: http://www.timescolonist.com/sports/Nana...veloper/3160440/story.html#ixzz0r2mvGoEg

[djh]

^Seems like a stupid move for a developer to get into a serious legal dispute with the authority that allows it to do business within it's boundaries...I guess they don't plan on any more developments within Nanaimo?

[SpongeG]

isn't the devloper washed up anyway? their name is mud in the area

[Micky Luv]

no kidding eh...

I'm more concerned about the impact this news will bring to the Olympic Village... what a nightmare!

[SFUVancouver]

Maynards Block

Taken by SFUVancouver, June 16th, 2010.

Pinnacle Living False Creek

Taken by SFUVancouver, June 16th, 2010.

First and Main social housing

Taken by SFUVancouver, June 16th, 2010.

[igeneer]

Does anyone know when people start moving into Parcel 10 (1633 Ontario St)??

[jlousa]

WCFC is the first to apply to add 2 additional penthouse floors to their project, the policy hasn't even been approved by council yet but no one has any doubt it won't sail thru. Seems like Wall is no longer entertaining it being a STIR project, it appears to be back to market condos.

[wrenegade]

That's no surprise about it being market, but good news that they are already anticipating the additional two floors of penthouses. Especially for WCFC being right behind the OV.

[hanko]

Originally Posted by jlousa

WCFC is the first to apply to add 2 additional penthouse floors to their project, the policy hasn't even been approved by council yet but no one has any doubt it won't sail thru. Seems like Wall is no longer entertaining it being a STIR project, it appears to be back to market condos.

Here is an excerpt from Bob Rennie's recent UDI speech:

“PETER WALL ALSO WENT TO THE SIDELINES RETURNING 100+ DEPOSITS IN EARLY 2009 IN THE 1ST PHASE OF HIS 400 UNIT -WALL CENTER FALSE CREEK DEVELOPMENT. TODAY IT IS REDESIGNED FROM 400 CONDOMINIUM TO A 500 CONDOMINIUM DEVELOPMENT ON SCHEDULE TO COME BACK TO MARKET THIS SUMMER“

http://forms.rennie.com/articles/2010_UDI_SPEECH.pdf

[jlousa]

Acutally they are proposing 562units if anyone is counting.

[Micky Luv]

Anyone here purchased any units in 12 Athletes way?
Has anyone got the confirmation on the completion day?

Mine is set on 28th but I heard that the developer still hasn't got city's occupancy permit + Land title...

[wrenegade]

Site work has begun on the James at 288 West 1st. Excavation starts in July.

[osirisboy]

nice!! I couldnt wait to see that make shift park get torn up

[entheosfog]

Originally Posted by awvan

Site work has begun on the James at 288 West 1st. Excavation starts in July.

I thought James was going where Busters towing is currently? There's a rendering for James on that building. I could be wrong though!

[sacrifice333]

^just an advert.

[SpongeG]

I watched the CBC report - the one couple who bought a unit weren't overly happy but they said they would move in - they rated their unit a 6 out of 10 - thats pretty bad

11 Olympic Village condo buyers want out

Several pre-sale buyers of condominiums at the city-financed Olympic Athletes' Village site on Vancouver's False Creek don't like their new homes and want to back out of their deals, CBC News has learned.

A lawyer representing 11 buyers said the City of Vancouver — which had to step in to finance the project when the original developer ran out of money — has not delivered on what was promised for the condominium units.

"They've lost faith in the developer," said Bryan Baynham. "They've lost faith in the city.


"Give us our money back and sell them to someone else who wants to live there. My people don't want to live there."

The buyers are unhappy that there's a parking lot where there was supposed to be a park, that washers and dryers have not been installed in their units and that their $5,000 fireplaces are defective, said Baynham.

He said the buyers wonder what else might be wrong.

The alleged deficiencies amount to a breach of contract, said Baynham, and his clients want their deposits back, with interest.

Pre-sale buyers Barbara and Harold Thuringer were asked how they would rate their unit on a scale of one to 10.

"I would say a six," said Barbara.

"Pretty low," said her husband.

The City of Vancouver stepped in to finance the Millennium Water condo project when the Millennium Development Corp. could no longer get financing.



Read more: http://www.cbc.ca/canada/british-columbi...-millennium-pre-sales.html#ixzz0rpceUPmX

Read more: http://www.cbc.ca/canada/british-columbi...-millennium-pre-sales.html#ixzz0rpcYMwgH

[TwoFace]

Had another look at the Village today, with my camera this time.
Couldn’t help but think that it resembled an empty movie set with only the ever-present security guards milling about.
Canada House being the Development star, here are my photographic highlights (not for commercial use)

[wrenegade]

Originally Posted by SpongeG

The buyers are unhappy that there's a parking lot where there was supposed to be a park, that washers and dryers have not been installed in their units and that their $5,000 fireplaces are defective, said Baynham.

Uh, let's see here...

Step 1: Install the washer/dryer, problem solved.
Step 2: Fix or replace the fireplaces.
Step 3: Tell the buyers they are retards for thinking a piece of land outside of the development would be guaranteed to be anything.

I really don't see how there could be lawsuit or breach of contract based on those things.

edit: Great shots btw Twoface. I'm not a big fan of the Erikson buildings but I love your first shot.

[SpongeG]

theres 36 sold - and 11 want out so that means of the nearly 500 units only 25 will be occupied? for the foreseeable future... sales seem pretty slow