Olympic Village & Southeast False Creek Updates Discussion - Page 123

whatnext · #**2441** Posted **Nov 7, 2010, 12:58 AM**

Surprised nobody posted this yet: in another of their patented late, late night Council meetings Vision overrode council rules and rammed through a choice of operators for part of the social housing component of MW (an operator the province had rejected). Details here:
http://www.citycaucus.com/2010/11/more-l...er-olympic-village-housing-decision#more

Yume-sama · #**2442** Posted **Nov 7, 2010, 2:49 AM**

Why should King Gregor follow due process?

SpongeG · #**2443** Posted **Nov 7, 2010, 3:36 AM**

saw that on the news - they seem to hope to have people in by the end of the year

sacrifice333 · #**2444** Posted **Nov 7, 2010, 6:08 AM**

Also, according to HoodSurf...

Quote:

The city is holding back Bob Rennie and Millennium from their planned price cuts and incentives for selling condos until Millennium can show it has the assets to cover loan shortfalls caused by reduced prices. But it’s unclear if Millennium has enough other assets to cover the shortfall. We discussed this issue here, in reference to Millennium’s West End development, Alexandra. The latest appears to be that incentives won’t happen until at least February 2011, but it’s all dependent on city approval.

Hopefully by then the second phase of WCFC & also a couple more phases of Pinnacle and maybe a phase or two of Opsal will have been obsorbed so that MW can finally sell a few condos!

red_lantern · #**2445** Posted **Nov 7, 2010, 7:16 AM**

Finally, heard on the CTV news that the low income rentals will finally be lauched in December. Now the mice in the olympic village will have some nice warm bodies to warm up to.

Perhaps there could be some carolling in the village square and the low income tennants can mix with the multi million dollar owners and belt out a few tunes this Christmas after all.

SpongeG · #**2446** Posted **Nov 8, 2010, 10:48 PM**

Olympic Village condo sales could get halted until February
The man in charge of selling the units says he doesn't have much time left this year
Dan Burritt Nov 05, 2010 17:52:28 PM

http://www.news1130.com/news/local/artic...do-sales-could-get-halted-until-february

golog · #**2447** Posted **Nov 8, 2010, 11:55 PM**

London Drugs has its interior lighting up and workers installing the tiled floor

wrenegade · #**2448** Posted **Nov 10, 2010, 9:01 PM**

Was at the CMHC conference this morning, Rennie mentioned he is ready to go with the new marketing push but is waiting on the CoV and Millennium to work their — out on the lending side. If it isn't worked out by Friday he'll put off the relaunch until February.

sacrifice333 · #**2449** Posted **Nov 10, 2010, 9:51 PM**

On another note... I'm moving in next week to a unit in 181 W 1st that I'll be renting.

danby · #**2450** Posted **Nov 11, 2010, 12:40 AM**

If you dont mind me asking what are you pay for rent?

sacrifice333 · #**2451** Posted **Nov 11, 2010, 1:14 AM**

A lot less than the equivalent mortgage.

red_lantern · #**2452** Posted **Nov 14, 2010, 8:33 AM**

Read in the Saturday's Vancouver sun that there was a motor vehicle accident - which makes it the first accident for the Village....well actually it was an electric vehicle and a bike that collided. Some type of race that they were involved with. Hope the cyclist is okay. Just a little action for the quiet village on a Friday morning.

red_lantern · #**2453** Posted **Nov 15, 2010, 8:28 PM**

Looks like the completion date may be delatyed to 2013. Excavation is still ongoing but no crane has been erected as of yet.

Porfiry · #**2454** Posted **Nov 18, 2010, 12:05 AM**

Vancouver’s Olympic village goes into receivership
http://www.theglobeandmail.com/news/nati...-receivership/article1803471/?cmpid=rss1

Quote:

The troubled Olympic village is going into receivership, after several weeks of tense negotiations between the city and the village's private developers.

wrenegade · #**2455** Posted **Nov 18, 2010, 12:33 AM**

Quote:

Originally Posted by red_lantern

Looks like the completion date may be delatyed to 2013. Excavation is still ongoing but no crane has been erected as of yet.

Is this speculation based on no crane erection yet, or do you have some other sort of info?

osirisboy · #**2456** Posted **Nov 18, 2010, 12:54 AM**

Quote:

Originally Posted by red_lantern

Looks like the completion date may be delatyed to 2013. Excavation is still ongoing but no crane has been erected as of yet.

hmm... well didnt excavation begin aprox a month ago? There shouldnt be a crane up for a while yet.

hollywoodnorth · #**2457** Posted **Nov 18, 2010, 2:41 AM**

http://www.vancouversun.com/business/Own...oes+into+receivership/3845088/story.html

whatnext · #**2458** Posted **Nov 18, 2010, 3:09 AM**

Great, so now Vancouver taxpayers are on the hook for all the $740 million. I have so much confidence in Gregor and Co. to manage this well. Not.

delboy · #**2459** Posted **Nov 18, 2010, 3:42 AM**

Quote:

Originally Posted by whatnext

Great, so now Vancouver taxpayers are on the hook for all the $740 million. I have so much confidence in Gregor and Co. to manage this well. Not.

hardly the present city council's fault. they inherited the mess and the state of the re market is hardly their doing either.

jlousa · #**2460** Posted **Nov 18, 2010, 3:59 AM**

The city is not on the hook for $740M, they certainly haven't done us any favours every time they discuss the project though. The current situation is the city takes over title of the project and the Maleks have provided the city with an undisclosed amount of money. The city had been asking for $60M but didn't get that much. That implies that the city was only looking at a loss of up to $60M and with whatever the Maleks have agreed to offer that would lower that loss even more. Certainly not as nasty as some people are going to make this out to be.