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  #10301  
Old Posted Apr 4, 2022, 4:30 AM
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Originally Posted by giallo View Post
Any word on how the new Lululemon head offices are coming along? Weren't they building a 13 storey office building on Great Northern Way?
Nothing has happened since 2020 when the rezoning was approved and a development application was (apparently) summitted.
Zero work on the site which now has Broadway Subway construction ongoing at the North end.
     
     
  #10302  
Old Posted Apr 4, 2022, 4:47 AM
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Originally Posted by madog222 View Post
Nothing has happened since 2020 when the rezoning was approved and a development application was (apparently) summitted.
Zero work on the site which now has Broadway Subway construction ongoing at the North end.
Thanks. I'm guessing COVID/WFH put this thing on ice for now.
     
     
  #10303  
Old Posted Apr 4, 2022, 4:55 AM
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Originally Posted by madog222 View Post
Nothing has happened since 2020 when the rezoning was approved and a development application was (apparently) summitted.
Zero work on the site which now has Broadway Subway construction ongoing at the North end.
There's no sign on the City's website that the Development Application has been submitted, even though Daily Hive said it had been, and they were supposedly starting construction at the end of 2020. The company sales and profits went up in 2020 from 2019, but less than in recent years, and there was actually a drop in growth in one quarter (the first time in many years, COVID apparently playing a role). The 2021 results look to have been stronger, but assuming they're taking on the development themselves, their building is at least a $250m project, so they are probably being cautious. Quite a bit of their growth in stores in recent years has been in China, but they don't have any in Russia.
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  #10304  
Old Posted Apr 4, 2022, 5:17 AM
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Speaking of stalled projects in the Olympic village area - after about 2 years on hold, demolition started on Quadreal's "Archetype" this week. There's also a bunch of new "Construction is underway!" banners around the site. Looks like Ventana has been booted as GC and replaced with Axiom as well.

https://archetypevancouver.com/

I live in the area, so happy to see this one moving forward after a long delay. This'll be a good addition to the neighbourhood.
     
     
  #10305  
Old Posted Apr 4, 2022, 5:33 AM
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^Great news! I was starting to get concerned it was stuck in development purgatory.

Last edited by madog222; Apr 4, 2022 at 5:49 AM.
     
     
  #10306  
Old Posted Apr 4, 2022, 4:29 PM
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Originally Posted by madog222 View Post
^Great news! I was starting to get concerned it was stuck in development purgatory.
Same. The other site nearby on Main and 2nd seems to still be up in the air.
     
     
  #10307  
Old Posted Apr 4, 2022, 4:59 PM
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That still being done by Cressey? Hard to keep track quite a few on the Main St ones either switch hands or have internal issues like PortLiving. Too bad too seeing how like 4 projects could be under construction right now getting rid of auto shops.

Seeing how well 2nd & Main sold I'm suprised.
     
     
  #10308  
Old Posted Apr 4, 2022, 5:40 PM
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Originally Posted by GenWhy? View Post
That still being done by Cressey? Hard to keep track quite a few on the Main St ones either switch hands or have internal issues like PortLiving. Too bad too seeing how like 4 projects could be under construction right now getting rid of auto shops.

Seeing how well 2nd & Main sold I'm suprised.
Yes, it was approved as a Cressey project, but as 5.0 FSR rental. They promised that 13 of the 131 units would be Moderate Income Market, which got them their rezoning without a problem in 2018, although it hasn't been enacted. Then in December 2020 they submitted a revised rezoning to remove the MIR units. That's not gone to a public hearing, and given the state of the rental market and the way rents have risen, I can't see Council accepting an argument that they can't afford to provide a small proportion as MIR.
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Last edited by Changing City; Apr 4, 2022 at 8:52 PM. Reason: typo
     
     
  #10309  
Old Posted Apr 4, 2022, 7:25 PM
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Originally Posted by Changing City View Post
Yes, it was approved as a Cressey project, but as 5.0 FSR rental. They promised that 13 of the 131 units would be Moderate Income Market, which got them their rezoning without a problem in 2018, although it hasn't been enacted. Then in December 2020 they submitted a revised rezoning to remove the MIR units. That's not gone to a public hearing, and given the state of the rental market and the way tents have risen, I can't see Council accepting an argument that they can't afford to provide a small proportion as MIR.
Agreed. I think the Plan allows outright a rezoning to 6-storeys there, with "Planning to consider taller.." if I'm not mistaken. Asking for 11-storeys all market rate with the same number of units is a bold request and, in my mind, waste of billable hours.
     
     
  #10310  
Old Posted Apr 5, 2022, 3:44 AM
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I am happy to report that construction equipment is arriving on site at 2102 Keith Drive — the northwest corner of the intersection of Clark Drive and East 6th Avenue for the mass timber office building HQ for Natures Path. This seems to be a go after a long wait.

https://dailyhive.com/vancouver/natures-path-headquarters-2102-keith-drive-vancouver




pics from https://dailyhive.com/vancouver/natures-path-headquarters-2102-keith-drive-vancouver
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  #10311  
Old Posted Apr 5, 2022, 5:12 AM
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cool looking building. i like it.
     
     
  #10312  
Old Posted Apr 5, 2022, 3:39 PM
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Good spot. Is that beside the property that Lululemon was going to build on?
     
     
  #10313  
Old Posted Apr 5, 2022, 5:01 PM
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Originally Posted by WarrenC12 View Post
Good spot. Is that beside the property that Lululemon was going to build on?
They're about three blocks apart. The Lululemon site is at Foley, past China Creek Park, and the Nature's Path site is vacant and next to Clark Drive. There are a couple of big potential development sites between them (The Shaw site sold in 2019 for $45m, for example).
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  #10314  
Old Posted Apr 5, 2022, 5:09 PM
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Originally Posted by Changing City View Post
They're about three blocks apart. The Lululemon site is at Foley, past China Creek Park, and the Nature's Path site is vacant and next to Clark Drive. There are a couple of big potential development sites between them (The Shaw site sold in 2019 for $45m, for example).
Thanks, I thought the Shaw site was were Lulu was going.
     
     
  #10315  
Old Posted Apr 5, 2022, 6:57 PM
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Originally Posted by Changing City View Post
They're about three blocks apart. The Lululemon site is at Foley, past China Creek Park, and the Nature's Path site is vacant and next to Clark Drive. There are a couple of big potential development sites between them (The Shaw site sold in 2019 for $45m, for example).
Is that $45 million figure accurate? Some real estate reports mentions $118 million with Low Tide buying it.

https://nicolawealth.com/bc-top-10-land-deals-of-2021/

https://renx.ca/top-10-cre-transactions-in-metro-vancouver-victoria-in-2021/

This article back in December 2021 says Low Tide is planning on redevelopment within two years

https://www.altusgroup.com/data/insights...-6-billion-in-third-quarter-investments/
     
     
  #10316  
Old Posted Apr 5, 2022, 11:02 PM
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Originally Posted by jollyburger View Post
Is that $45 million figure accurate? Some real estate reports mentions $118 million with Low Tide buying it.
No idea - it was Daily Hive, so I'll let you decide! (Maybe they were getting mixed up with the assessed value, which was $45m?)
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  #10317  
Old Posted Apr 5, 2022, 11:24 PM
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Originally Posted by Changing City View Post
No idea - it was Daily Hive, so I'll let you decide! (Maybe they were getting mixed up with the assessed value, which was $45m?)
Even a broken clock?

Quote:
1155 6TH AVE E VANCOUVER V5T 1E6

2022 assessment as of July 1, 2021
Total value
$96,203,100

Land
$96,176,000

Buildings
$27,100

Sales history (last 3 full calendar years)

Mar 4, 2021 $117,500,000
Jan 15, 2019 $45,000,000
https://www.bcassessment.ca/Property/Info/RDAwMDA1NTY1MQ==
     
     
  #10318  
Old Posted Apr 5, 2022, 11:58 PM
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I figured it out.

The 2019 sale was just internal from Shaw Cable to JRS (some kind of Shaw holding company). It was finally sold to Low Tide last year for that $117.5 million dollar valuation. Some 2021 reports listed Shaw as the seller but a few listed properly that it was JRS selling the property.

https://leevancouver.com/wp-content/uploads/LEE-Q2-2019-Industrial-Snapshot-web.pdf
     
     
  #10319  
Old Posted Apr 6, 2022, 12:01 AM
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Just realised the Daily Hive article was from 2019 (?) but the Low Tide/$117.5 million valuation seems to be from Q3 2021. Shaw/JRS (some Shaw affiliate company) is still listed as the seller in all the reports.
It's always good when we're both correct! So somebody apparently made a killing flipping the property for a $72.5m profit.
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  #10320  
Old Posted Apr 6, 2022, 6:30 AM
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They're better off just attaching the sign to another similar style heritage building than trying to incorporate that into a new building if it's even salvagable.

Quote:
When a bomb went off at the Royal Theatre across Hastings on March 20, 1933, the Balmoral’s windows and façade were damaged. No one has an exact date for the current sign, but it may have been a replacement for the one damaged in the bomb blast.
This VPL archive photo doesn't show much damage to the sign indicating it needed to be replaced.



VPL Accession Number: 9116C
Date: March 1933
Photographer / Studio: Thomson, Stuart
Content: Part of a series 9116 - 9116D.


Quote:
Balmoral Hotel neon sign may be preserved after building demolished

The Balmoral Hotel was one of Vancouver’s most notorious SROs before the City of Vancouver closed it down in 2017. Now owned by the city, the building has deteriorated so badly that Vancouver has decided to tear it down, rather than rebuild it.

But it once was a very elegant structure, with one of Vancouver’s tallest and most striking neon signs. The four-storey-high sign is looking as rough as the building — the paint is peeling off its metal facing, and its neon hasn’t been turned on in years.

But neon expert John Atkin says the sign is still intact, and hopes it can be saved and resurrected on whatever building replaces the Balmoral at 159 East Hastings St.

“I think it’s a piece of public art now, and the new building should remember the Balmoral,” said Atkin. “The Balmoral has a history to it, it’s part of the street.”

Vancouver Coun. Pete Fry concurs.

“I’ve got this great Ian Tiles silkscreen print of a gig by (the late western swing singer) Ray Condo at the Balmoral in my kitchen,” said Fry.

“It’s an iconic Vancouver sign, and is definitely worth preserving. That building also has a really complicated history that needs to be acknowledged.”

The Ray Condo poster features an illustration of Condo in front of the sign, which has unique lines.

“It starts at the top and flips out in a bit of a curve away from the building, comes into the building and then curls up and around the clock (at the bottom),” said Atkin. “It’s just a really nice piece of graphic design. This was designed in the early 1930s, and you’re right in that period of art deco with those sorts of curvy motifs.”

It’s an artistic design, because many of the neon sign-makers from the 1930s through the 1960s were artists.

“They had gone to art school, and many of them came out of the sign-painting industry,” said Atkin. “I think that’s reflected in the quality and design of these signs.”

The current Balmoral sign is probably the second or third one on the building. When a bomb went off at the Royal Theatre across Hastings on March 20, 1933, the Balmoral’s windows and façade were damaged. No one has an exact date for the current sign, but it may have been a replacement for the one damaged in the bomb blast.

Neon came in Vancouver in 1928, and within a few years businesses were building giant, imaginative signs to lure in customers.

“Hastings Street was one of the main routes into town,” said Atkin. “It was the main streetcar route, and the route for the Interurban trains going down the station at Carrall and Hastings (streets). These signs were meant to attract your eye: ‘Look at me, look at me!’

“This thing is huge, what is it, four storeys? I think that’s one of the reasons why it’s important. If you look at the Hotel Patricia, the Astoria, the Save-on-Meats (neon signs still on Hastings), these are four-, five-, six-storey signs. These are giant chunks of public art. They need to be preserved.”

Another factor that makes the Balmoral sign stand out is that it’s outlined with incandescent light bulbs, which were often used to illuminate signs pre-neon. The sign also had vivid colours, ruby red letters for Balmoral, a green ring around the clock at the bottom.

In an email, the city said the demolition plan for the Balmoral “includes heritage considerations such as the preservation of the historic Balmoral sign.” There is no date set for the demolition, which “will be complex,” given its location on a busy stretch of Hastings in the heart of the Downtown Eastside.

The nine-storey Balmoral Hotel opened in September 1912, when Vancouver’s downtown was still on Hastings. It was designed by Parr and Fee architects, and had a big beer parlour on the first floor that may have had a mural at one point.

“There has been a very persistent rumour about Emily Carr (painting) something in the lobby or beer parlour of the Balmoral,” said Atkin. “It’s one of those urban myths or legends you can’t seem to find anything about.”
https://vancouversun.com/news/local-news...y-be-preserved-after-building-demolished

It looked nice lit up

https://www.vancouverneon.com/page_q/balmoral.htm
     
     
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