The Ultimate Vancouver Rumour Thread!

[RealtorRolando]

Originally Posted by dleung

Demolish this?!?!


Hope it's just a bad rumour

Personally, I don't think any developer would demolish that tower until 10 to 20 years for now. I don't think the economics justify it when it can bring in so much rental income. The building needs to depreciate a bit more. 10 or 20 years from now the economics will make more sense and the tower will be seen as something worthy of demolishing to build a new tower nearly twice the height.

[dleung]

It's just a shame that the city spent 20-30 years building a distinct vernacular of livable towers and in this particular area an urban forest characterized by water/mountain views permeating around minimal tower bases, only to later fill it in with generic-downtown wall-to-wall towers. This block's existing design repeats all the way to Stanley Park, with the open spaces offering a lot to buildings further inland. I don't know why they aren't putting towers north of Robson, which actually looks quite under-utilized at the moment..

Heck the green space around the Bayshore towers might be up for grabs too. Would be a shame to see Georgia blocked off with walls of towers on either side.

[RealtorRolando]

Originally Posted by dleung

It's just a shame that the city spent 20-30 years building a distinct vernacular of livable towers and in this particular area an urban forest characterized by water/mountain views permeating around minimal tower bases, only to later fill it in with generic-downtown wall-to-wall towers. This block's existing design repeats all the way to Stanley Park, with the open spaces offering a lot to buildings further inland. I don't know why they aren't putting towers north of Robson, which actually looks quite under-utilized at the moment..

Heck the green space around the Bayshore towers might be up for grabs too. Would be a shame to see Georgia blocked off with walls of towers on either side.

You probably would have said the same thing when downtown was mostly single family housing. Just be lucky the city made room for you live in because if it had been kept as single family housing you probably wouldn't have been able to move here.

[Klazu]

Originally Posted by csbvan

Just so wasteful. It's embarrassing.

Greenest City on Earth! (TM)

[rofina]

Originally Posted by dleung

It's just a shame that the city spent 20-30 years building a distinct vernacular of livable towers and in this particular area an urban forest characterized by water/mountain views permeating around minimal tower bases, only to later fill it in with generic-downtown wall-to-wall towers. This block's existing design repeats all the way to Stanley Park, with the open spaces offering a lot to buildings further inland. I don't know why they aren't putting towers north of Robson, which actually looks quite under-utilized at the moment..

Heck the green space around the Bayshore towers might be up for grabs too. Would be a shame to see Georgia blocked off with walls of towers on either side.

I disagree from a planning perspective.

Georgia is about the only urban canyon we have in Vancouver, and by far the most appropriate street to turn into an urban canyon, its effectively a highway after all.

[officedweller]

Both Georgia and Burrard (north of Georgia) are officially 'ceremonial' streets with alternating buildings and plazas across the street from each other.
On Georgia, that's being messed up with the infill of the Pacific Centre plazas and the build-out near the library.

[jollyburger]

Arno Matis is working on a mixed-use near that Milross Garden around Main Street



They said they'll release more news on their newsletter

[WarrenC12]

Originally Posted by jollyburger

Arno Matis is working on a mixed-use near that Milross Garden around Main Street

They said they'll release more news on their newsletter

Near or replacing? It's a narrow lot.

[GenWhy?]

Hopefully that means the ownership of that whole block finally got sorted out. Toured one of those buildings and I think it had the original elevator in it and the stairwell was very very interesting. No amount of Alternative Solutions could help it.

[jollyburger]

Originally Posted by WarrenC12

Near or replacing? It's a narrow lot.

I mean there's not a lot of available lots so I assume replacing it and something next door?

[WarrenC12]

Originally Posted by jollyburger

I mean there's not a lot of available lots so I assume replacing it and something next door?

Is none of that stuff heritage protected? Or maybe it is and they'll just keep the shells.

[Changing City]

Originally Posted by WarrenC12

Is none of that stuff heritage protected? Or maybe it is and they'll just keep the shells.

No, neither 'The Source' (Backpackers Hotel) or The Cobalt are on the Heritage Register. Both buildings only occupy the front 50% of their site.

The Cobalt is quite a bit bigger, and has 92 SRO Rooms which can't just 'disappear', so would be much more difficult to redevelop. It was also owned by the Sahotas (Balmoral, Regent), who were supposedly doing 'major repairs' a couple of years ago.

The Backpackers was an SRO years ago, but was removed from the list and is considered to be a hotel rather than a residential building, so would be easier to combine with the vacant site to redevelop.

[jollyburger]

Originally Posted by Changing City

No, neither 'The Source' (Backpackers Hotel) or The Cobalt are on the Heritage Register. Both buildings only occupy the front 50% of their site.

The Cobalt is quite a bit bigger, and has 92 SRO Rooms which can't just 'disappear', so would be much more difficult to redevelop. It was also owned by the Sahotas (Balmoral, Regent), who were supposedly doing 'major repairs' a couple of years ago.

The Backpackers was an SRO years ago, but was removed from the list and is considered to be a hotel rather than a residential building, so would be easier to combine with the vacant site to redevelop.

Owners of The Source seem to be major donors for the Vancouver Heritage Foundation FWIW

Removal from SRO
https://council.vancouver.ca/20090505/documents/a6.pdf

They seem to live out in Shaughnessey (were against some condos being built at 4575 Granville)

https://council.vancouver.ca/20190611/documents/phea7opposed20190620-1_Redacted.pdf

Also own St. Clair Hotel on Richards Street and the BC Stamp building next door.

https://www.straight.com/article/green-fears-sro-evictions

There was some lawsuit between Source and "Prior Holdings" in 2019

obtaining the cancelation of a registered easement on land which prevented its development, the court finding that by changes in the neighbourhood, the land’s reasonable use was impeded: Prior Holdings Ltd. v. The Source Enterprises Ltd. 2019 BCSC 1871 – Supreme Court;

https://www.mccarthy.ca/en/people/scott-griffin

When they redeveloped the condos next door, Source mentioned some eastment on Lots 7/8 which is the community gardens I believe (Bosa the developer of the condo at the time owned or still owns those lots).

https://council.vancouver.ca/20040224/p5.htm

Amacon wanted to redevelop 190 Prior (Backpackers) with Christopher Bozyk back in 2007

https://vancouver.ca/files/cov/development-permit-board-nov-19-07.pdf

[GenWhy?]

I think Amacon still has 901 Main St.. and waiting out the Sahotas. The roof is like walking on a waterbed.

[Changing City]

Originally Posted by GenWhy?

I think Amacon still has 901 Main St.. and waiting out the Sahotas. The roof is like walking on a waterbed.

According to the court case that jollyburger dug out, Amacon also own the vacant site next to The Source, and that's presumably what will be developed. (It would only include The Source building if, having lost his court case, Mr. Shorrock, the owner, decided to sell to Amacon's Prior Holdings).

"Prior Holdings Ltd. (“Prior”) is part of a group of companies engaged in property development. It owns land at 901 and at 952 (“Lot 2”) Main Street, Vancouver. Next to Lot 2 is 927 and 929 Main Street (Lots 5 and 6) owned by The Source Enterprises Ltd.(“Source”). The Cobalt Hotel (“Cobalt”) is on the property between Source's land and 901 Main Street. Thus, Prior owns land at each end of the block; Source's lots and Cobalt occupy the mid-block."

"Source purchased its property in 1975. Prior bought Lot 2 in 2012" "Prior bought Lot 2 with the expectation that it would be developed either as a standalone property or in conjunction with the other neighbouring lots. Prior has been unsuccessful in buying out the Cobalt or Source"

"Prior intends to proceed with the development of Lot 2, but wishes to have the 12‑foot strip easement cancelled because it is no longer required. Mr. De Cotiis on behalf of Prior testified that the easement area is necessary to include in the development of Lot 2. Mr. Shorrock, the principal of Source, acknowledges that without the easement area, development of Lot 2 is impractical."

[GenWhy?]

Ya in order to reno 901 Main St you have to kind attach a new elevator and stairwell at the back. It's just too costly on its own for one office per floor.

[Changing City]

Originally Posted by GenWhy?

Ya in order to reno 901 Main St you have to kind attach a new elevator and stairwell at the back. It's just too costly on its own for one office per floor.

As I recall, the idea for 901 Main (190 Prior) wasn't a 'normal' residential project, it was really for Amacon's president, Amalio DeCotiis, with a new 3-floor penthouse on top (with a rooftop lap pool) and all the parking (in the main floor, as it's not possible to excavate under the building and still retain it) dedicated to the penthouse unit. (A collection of Ferraris, maybe?). There would be 10 units in total, and the Heritage Agreement allowed a big addition at the back as well as on top, all residential.

[GenWhy?]

Originally Posted by Changing City

As I recall, the idea for 901 Main (190 Prior) wasn't a 'normal' residential project, it was really for Amacon's president, Amalio DeCotiis, with a new 3-floor penthouse on top (with a rooftop lap pool) and all the parking (in the main floor, as it's not possible to excavate under the building and still retain it) dedicated to the penthouse unit. (A collection of Ferraris, maybe?). There would be 10 units in total, and the Heritage Agreement allowed a big addition at the back as well as on top, all residential.

Ya that was one idea. That was well before 2016 tho. I think he's moved on long ago.

[Changing City]

Originally Posted by GenWhy?

Ya that was one idea. That was well before 2016 tho. I think he's moved on long ago.

That was the last one that was approved in the late 2000s (although it has probably lapsed now) - nothing else has been submitted.

[rofina]

Originally Posted by Changing City

As I recall, the idea for 901 Main (190 Prior) wasn't a 'normal' residential project, it was really for Amacon's president, Amalio DeCotiis, with a new 3-floor penthouse on top (with a rooftop lap pool) and all the parking (in the main floor, as it's not possible to excavate under the building and still retain it) dedicated to the penthouse unit. (A collection of Ferraris, maybe?). There would be 10 units in total, and the Heritage Agreement allowed a big addition at the back as well as on top, all residential.

Interesting.

Could turn into a premier property in 20 years time when (if?) the viaducts come down and the area is cleaned up.

On the flip side, it could further deteriorate as the DTES continues to spread out.

Risky play. I know I wouldn't be building myself a penthouse there for use today or tomorrow or next 5 years, but to each their own.