Olympic Village & Southeast False Creek Updates Discussion

[officedweller]

Olympic Village retail on the block

By Bob Mackin

Fri Oct 11, 2013 1:31pm PST

A BC Supreme Court judge approved what she called an “unusual process” on October 11 to sell The Shops at the Village on False Creek.

Justice Shelley Fitzpatrick agreed with the proposal by receiver EY (formerly Ernst & Young) for a $45.1 million stalking horse offer [an offer that sets a minimum price for a distressed asset] by First Capital Realty (TSX:FCR). First Capital could become the owner unless it is outbid.

Two previous offers for the fully leased and occupied 83,000 square feet of space at the former Olympic Village fell through. EY received the unsolicited offer on September 16. It includes a $2 million deposit and a $1.25 million termination fee to be paid to First Capital should another party acquire the property. The 12 retail/commercial units are anchored by Urban Fare (22,682 square feet) and London Drugs (16,362 square feet).

EY lawyer Steven Devorak of Bull Housser told Fitzpatrick that the package will be offered through advertisements in the Globe and Mail’s national edition. EY also contracted CBRE to seek a buyer. He said, “anyone who may be a player is already aware of this property.”

If there is no other qualified buyer, the First Capital offer could close within 19 days of the ad campaign. If there are multiple bidders, the property would be auctioned with closure no later than 64 days after publication.

...

http://www.biv.com/article/20131011/BIV0111/131019984/olympic-village-retail-on-the-block

[Pinion]

Walked around the area this afternoon

















Quebec street boom



Central





From the north side of False Creek/Cambie bridge

[Jebby]

Thanks for the pictures. I especially love the way this looks:

Originally Posted by Pinion

[yorktonite]

A picture from my balcony:

[deasine]

Great picture; it's absolutely amazing to see how that area has changed in the last decade.

[quobobo]

Such a great shot, thanks for taking it.

[Architype]

^ Great photos, above!

I took these photos back in September, thought it was quite nice, but I'm not sure what this building is now:

[BodomReaper]

Big thank you to Pinion, Yorktonite, and Architype! Nice to have this thread suddenly filled with a burst brilliant pics

Still no word on who will take the Playhouse space in WCFC?

[Architype]

^ Thanks, that's what my photos are of, the Playhouse Theatre space.

[s211]

Originally Posted by yorktonite

A picture from my balcony:

Where's that vantage point from?

[spm2013]

One of those buildings between Ash/Cambie on West 2nd? BCTF building looks like it might have a patio on the 3rd floor that might have that shot.

[yorktonite]

It's the corner of 8th and Heather.

[SFUVancouver]

Originally Posted by Architype

I took these photos back in September, thought it was quite nice, but I'm not sure what this building is now:

Originally Posted by BodomReaper

Still no word on who will take the Playhouse space in WCFC?

Nothing is in the space quite yet. Negotiations are under way between the City and a coalition of three theatre companies (Arts Club Theatre Company, Bard on the Beach, and Pacific Theatre) who are prepared to take on a long-term lease for the space. It would likely be a $1 a year sort of lease, but the three theatre companies would be responsible for raising the money (well into the millions) to finish the interiors and operate the space.

Here's a relevant article from the Sun last year about the proposal. It's all gone quiet since then, so I expect negotiations are still under way:
http://www.vancouversun.com/Theatre+trio...e+Creek+condo+complex/7651806/story.html

[theKB]

Originally Posted by SFUVancouver

Nothing is in the space quite yet. Negotiations are under way between the City and a coalition of three theatre companies (Arts Club Theatre Company, Bard on the Beach, and Pacific Theatre) who are prepared to take on a long-term lease for the space. It would likely be a $1 a year sort of lease, but the three theatre companies would be responsible for raising the money (well into the millions) to finish the interiors and operate the space.

Here's a relevant article from the Sun last year about the proposal. It's all gone quiet since then, so I expect negotiations are still under way:
http://www.vancouversun.com/Theatre+trio...e+Creek+condo+complex/7651806/story.html

It's rather sad, but there really isn't that type of support for the arts in this town, even with the considerable amount of wealth that is around here. I hope they can but I have my doubts that they will be able to pull it off unless some big name steps up to cover the costs.

It's statement enough when you look in the programs for various arts organizations in town and see the lists of donors and the $500 and under names are even printed. Most american arts organizations rarely give any recognition for $10,000 and under.

I hope they can do it, but I am skeptical about it happening. l

[trofirhen]

Originally Posted by theKB

It's rather sad, but there really isn't that type of support for the arts in this town, even with the considerable amount of wealth that is around here. I hope they can but I have my doubts that they will be able to pull it off unless some big name steps up to cover the costs.

It's statement enough when you look in the programs for various arts organizations in town and see the lists of donors and the $500 and under names are even printed. Most american arts organizations rarely give any recognition for $10,000 and under.

I hope they can do it, but I am skeptical about it happening. l

Agreed. Ironic that Vancouver, with so much in its favor, lacks strong support for the arts.
If this were happening in Seattle, I'm sure the results would be rather different.

[TwoFace]

Originally Posted by trofirhen

Ironic that Vancouver, with so much in its favor, lacks strong support for the arts.

Be careful what you wish for. Although this one is kind of growing on me.

[theKB]

Originally Posted by trofirhen

Agreed. Ironic that Vancouver, with so much in its favor, lacks strong support for the arts.
If this were happening in Seattle, I'm sure the results would be rather different.

This is so true, in Seattle, the big money families and corporations have really stepped up and supported the arts. The Benaroya's, the Gates', The Nordstrom Family etc etc etc all have made major donations to help get things done and make Seattle one of the top arts cities in North America. Benaroya Hall was a 120 million dollar project in 1998. Vancouver just doesn't have that sort of culture that garners MAJOR support for the arts. In major US cities, going to the symphony or plays is almost a status symbol and being a donor is a huge part of life for the well to do.

The fact that "The Centre" couldn't make it as a venue is statement enough that there is a lack of support/interest in the arts in this city.

[Vancity]

Originally Posted by theKB

This is so true, in Seattle, the big money families and corporations have really stepped up and supported the arts. The Benaroya's, the Gates', The Nordstrom Family etc etc etc all have made major donations to help get things done and make Seattle one of the top arts cities in North America. Benaroya Hall was a 120 million dollar project in 1998. Vancouver just doesn't have that sort of culture that garners MAJOR support for the arts. In major US cities, going to the symphony or plays is almost a status symbol and being a donor is a huge part of life for the well to do.

The fact that "The Centre" couldn't make it as a venue is statement enough that there is a lack of support/interest in the arts in this city.

Really? That's quite interesting. I thought the culture/arts aspect of the city is definitely growing, but why is it that we don't have our millionares stepping up and making donations, like the wealthy do in places like Seattle.

[sacrifice333]

Originally Posted by TwoFace

Be careful what you wish for. Although this one is kind of growing on me.

I ADORE this one!

Sidenote... CRAFT opens November 7th

[spm2013]

I wish someone forked up the dough to buy that red globe that was installed during the Biennale in Steveston