Park Hyatt (1128 W Georgia) | 197m | 62 fl | Completed

[chrisel]

Originally Posted by VancouverOfTheFuture

it just goes to show, no matter how much you pay, how exclusive the building it, you arent immune from crap quality in the Vancouver condo market.

Not just the Vancouver condo market:

The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks

"The claims include millions of dollars of water damage from plumbing and mechanical issues; frequent elevator malfunctions; and walls that creak like the galley of a ship — all of which may be connected to the building’s main selling point: its immense height, according to homeowners, engineers and documents obtained by The New York Times."

[bb1510]

Charles Kim's PH on the market today for 34.8m; previously it was Ian's pied a terre for the kids. Last sold in 2014 for 10m plus a land swap. I think asking price back then was 15m

https://malcolmhasman.com/view-listi...couver-bc-788/

[Capitol Hill]

I gusss my boxed wine would look silly in the wine cellar.

[Capitol Hill]

Originally Posted by bb1510

Charles Kim's PH on the market today for 34.8m; previously it was Ian's pied a terre for the kids. Last sold in 2014 for 10m plus a land swap. I think asking price back then was 15m

https://malcolmhasman.com/view-listi...couver-bc-788/

Any discount because the broker spelled Vancouver wrong on the webpage?

[Klazu]

Despite the ridiculous price, that uis one really nice home. The patio is unparalleled by anything in the city, maybe save for the Butterfly penthouses with rooftop pools. I find it actually looking quite tastefully decorated for the super-HDR pictures.

[jlove390]

A Settlement of $6,644,000 has been reached to resolve the class action concerning alleged fogging, shattering and cracking defects in the Shangri-La building’s insulated glass window units (IGUs).

The Settlement is subject to approval by the Supreme Court of British Columbia and other conditions of the Settlement being satisfied.

https://shangrilawindowsclassaction.com

[jollyburger]

Originally Posted by jlove390

A Settlement of $6,644,000 has been reached to resolve the class action concerning alleged fogging, shattering and cracking defects in the Shangri-La building’s insulated glass window units (IGUs).

The Settlement is subject to approval by the Supreme Court of British Columbia and other conditions of the Settlement being satisfied.

https://shangrilawindowsclassaction.com

The Settlement was reached following extensive negotiations. The Settlement of $6,644,000 is the amount allocated by 0790482 B.C. Ltd. and Strata Plans BCS 3165 and BCS 3206 (collectively, the “Plaintiffs”) towards the class action, out of the all-inclusive amount of $13,288,000 to be paid
to the Plaintiffs for the global settlement of the class action and the four actions brought by Strata Plans BCS 3165 and BCS 3206.

I guess the complete settlement is $13.3 million.

[jollyburger]

Article on the settlement

The settlement covers former owners, but not current ones if they bought units after that period. They face the cost of repairs and future special assessments as the two stratas — one for units on floors 16 to 43, and the other for those on floors from 44 to 62 — grapple with the complicated, window-related issues.

In recent months, residents at a North Vancouver condo building have been dealing with large glass balcony patio panels that have shattered and fallen from the 15th and ninth floors of The Hunter, a relatively new building in Lynn Creek built by Intergulf Development Group.

https://vancouversun.com/news/settle...s-class-action

[Klazu]

Relatively new? Hunter is BRAND new, completed last year. So much for luxury buildings...

[Vin]

It is now official. The city with the tallest building in BC now goes to Burnaby.

Shangri-La dethroned: BC's tallest building is no longer in Vancouver
https://dailyhive.com/vancouver/vanc...-gilmore-place

[Klazu]

Thread title should be changed to Living Shangri-la, which I belie is the real name? End of an era.

[Changing City]

Originally Posted by Klazu

Thread title should be changed to Living Shangri-la, which I belie is the real name? End of an era.

Westbank call it Shangri-La.

[whatnext]

Originally Posted by Vin

It is now official. The city with the tallest building in BC now goes to Burnaby.

Meh, sometimes being the tallest isn't the greatest idea. Case in point from today:

The One, Sam Mizrahi and Jenny Coco’s luxury condo project in Toronto, put into receivership with $1.6-billion in debt
TIM KILADZE
RACHELLE YOUNGLAI REAL ESTATE REPORTER
PUBLISHED 8 HOURS AGO

The One, a luxury condo development in Toronto co-owned by real-estate developer Sam Mizrahi and road paving magnate Jenny Coco, is in receivership after its senior lender asked an Ontario judge to put a third party in control of the project.

Under development since 2015 at the corner of Yonge and Bloor streets, The One was marketed as Canada’s tallest condo building, with 85 storeys of condos, hotel and retail. However, the project is years behind schedule, owes $1.6-billion to its lenders and faces a growing number of lawsuits. Existing litigation includes a dispute between Mr. Mizrahi and Ms. Coco, who each own 50 per cent of The One.

In its receivership application, KEB Hana Bank, a commercial bank based in South Korea, said The One’s senior lenders were not prepared to advance more money without the appointment of an outside group to manage the project and oversee its development. At the moment, the interest accrued on KEB’s debt alone amounts to $166-million annually....

....China-East Resources Import & Export Co., or CERIECO, a state-owned Chinese enterprise and one of the project’s first lenders, has also sued Mr. Mizrahi and Ms. Coco, alleging default on its $213-million contractor’s loan that got The One up and running.

In total, The One has $1.6-billion in debt outstanding, with $1.23-billion owed to KEB. Aviva Insurance Co. of Canada is second in line to be repaid with $130-million owed. CERIECO currently ranks last in the pecking order, and in late August, the Chinese lender sued its Canadian legal counsel over concerns about the project. At the time, CERIECO alleged the total amount owed “is in excess of the project’s fair market value, even if construction is completed.”

In 2019, The One was expected to finish construction in December, 2022, at a cost of approximately $1.4-billion, according to the receivership application. As of Oct. 4, 2023, “concrete columns and walls had only been poured up to the 40th floor” and the borrower now projects that the project will not be completed until March, 2025. Total costs are now expected to exceed $2-billion.....

https://www.theglobeandmail.com/busi...-receivership/

[Vin]

Originally Posted by whatnext

Meh, sometimes being the tallest isn't the greatest idea. Case in point from today:

The One, Sam Mizrahi and Jenny Coco’s luxury condo project in Toronto, put into receivership with $1.6-billion in debt
TIM KILADZE
RACHELLE YOUNGLAI REAL ESTATE REPORTER
PUBLISHED 8 HOURS AGO

The One, a luxury condo development in Toronto co-owned by real-estate developer Sam Mizrahi and road paving magnate Jenny Coco, is in receivership after its senior lender asked an Ontario judge to put a third party in control of the project.

Under development since 2015 at the corner of Yonge and Bloor streets, The One was marketed as Canada’s tallest condo building, with 85 storeys of condos, hotel and retail. However, the project is years behind schedule, owes $1.6-billion to its lenders and faces a growing number of lawsuits. Existing litigation includes a dispute between Mr. Mizrahi and Ms. Coco, who each own 50 per cent of The One.

In its receivership application, KEB Hana Bank, a commercial bank based in South Korea, said The One’s senior lenders were not prepared to advance more money without the appointment of an outside group to manage the project and oversee its development. At the moment, the interest accrued on KEB’s debt alone amounts to $166-million annually....

....China-East Resources Import & Export Co., or CERIECO, a state-owned Chinese enterprise and one of the project’s first lenders, has also sued Mr. Mizrahi and Ms. Coco, alleging default on its $213-million contractor’s loan that got The One up and running.

In total, The One has $1.6-billion in debt outstanding, with $1.23-billion owed to KEB. Aviva Insurance Co. of Canada is second in line to be repaid with $130-million owed. CERIECO currently ranks last in the pecking order, and in late August, the Chinese lender sued its Canadian legal counsel over concerns about the project. At the time, CERIECO alleged the total amount owed “is in excess of the project’s fair market value, even if construction is completed.”

In 2019, The One was expected to finish construction in December, 2022, at a cost of approximately $1.4-billion, according to the receivership application. As of Oct. 4, 2023, “concrete columns and walls had only been poured up to the 40th floor” and the borrower now projects that the project will not be completed until March, 2025. Total costs are now expected to exceed $2-billion.....

https://www.theglobeandmail.com/busi...-receivership/

1. We are not Toronto, and never will be
2. We don't live and most of us do not invest in Toronto
3. The tallest in BC is our own pride, not Toronto's

So pray tell why are you bringing in Toronto?

Truth is, pre-Covid, Canada's largest cities largely depended on wealthy foreign immigrants bringing in cash to keep the economy going. This is no longer true, and Mr Mizrahi and Co. were too late to cash in on that, and hence the problem they are facing today.

Gilmore's tall towers are mostly targeting locals as they are not lux condos, so no problem there.

If you insist on bringing in sob stories from elsewhere, see how even the most famous building in NYC had a bad start:
https://www.quickliquidity.com/blog/...y-20-years.php
Today, it remains the pride of not only New Yorkers, but all Americans.

Burnaby has indeed beat Vancouver to host the tallest building in BC, just like how Edmonton has beat Vancouver/Calgary to host the tallest building in the Western Provinces. We have our backward policies to blame for that.

Well, at least London's Shangri-la remains the tallest in the UK. Hurrah!

[Changing City]

Originally Posted by Vin

Well, at least London's Shangri-la remains the tallest in the UK. Hurrah!

Which was built outside the City of London in the London Borough of Southwark.

[Vin]

Originally Posted by Changing City

Which was built outside the City of London in the London Borough of Southwark.

A London borough is still part of London, like how the different boroughs in NYC make up the city. They all observe the same policies and regulations created by the same municipality. All London boroughs are even served by the Metropolitan police force under one Mayor.

The City of London run by a corporation is a totally separate entity deriving from ancient Roman times and is only about a square mile. It even has its own "City of London" police force protecting the small area including its vast financial assets. It is like asking why Rome's Hilton Hotel is not found in the Vatican City.

[Changing City]

Originally Posted by Vin

A London borough is still part of London, like how the different boroughs in NYC make up the city. They all observe the same policies and regulations created by the same municipality. All London boroughs are even served by the Metropolitan police force.

The City of London run by a corporation is a totally separate entity deriving from ancient Roman times and is only about a square mile. It even has its own "City of London" police force protecting the small area including its vast financial assets. It is like asking why Rome's Hilton Hotel is not found in the Vatican City.

Southwark is part of London like Burnaby is part of Greater Vancouver. There's Greater London (with a mayor) and there's The City of London, which is where the centre of commerce has traditionally located.


[wikipedia]

Southwark Council has a Plan, and planning department, just like Burnaby has its own planning department and an ODP.

The police force debate is totally irrelevent, but The City of London has its own police force just as the City of Vancouver has its own police force, and Burnaby has the RCMP.

And the tallest building in Greater London isn't in the core, it's in Southwark, south of the Thames, not that close to The City.


[wikipedia]

Before 2019, when the second tallest was completed at 22 Bishopsgate (in the City of London), the tallest for nearly 30 years was at Canary Wharf, which is miles from the centre of London. (You can see it as part of that cluster of towers off in the distance on the City of London image above. Canary Wharf has a cluster of towers just as Brentwood has a cluster of towers, distant from the centre of the city.

Several European cities have their tallest buildings outside the core. It's a weird obsession to get hung up on.

[Vin]

Originally Posted by Changing City

Southwark is part of London like Burnaby is part of Greater Vancouver. There's Greater London (with a mayor) and there's The City of London, which is where the centre of commerce has traditionally located.


[wikipedia]

Southwark Council has a Plan, and planning department, just like Burnaby has its own planning department and an ODP.

The police force debate is totally irrelevent, but The City of London has its own police force just as the City of Vancouver has its own police force, and Burnaby has the RCMP.

And the tallest building in Greater London isn't in the core, it's in Southwark, south of the Thames, not that close to The City.


[wikipedia]

Before 2019, when the second tallest was completed at 22 Bishopsgate (in the City of London), the tallest for nearly 30 years was at Canary Wharf, which is miles from the centre of London. (You can see it as part of that cluster of towers off in the distance on the City of London image above. Canary Wharf has a cluster of towers just as Brentwood has a cluster of towers, distant from the centre of the city.

Several European cities have their tallest buildings outside the core. It's a weird obsession to get hung up on.

Do you know that the Shangri-la at the Shard is barely about 300m to the Tower Bridge, one of the most iconic landmarks in London?

Of course Southwark has a plan, it's just like Oakridge has a plan, Collinghood neighbourhood has a plan, Kitsilano has a plan, but they all belong to the City of Vancouver! If the tallest building were to be built at Marine Gateway, it would still be the pride of Vancouverites. If the tallest is built in Southwark, it would be the pride of all Londoners, not folks in neighbouring municipalities like Surrey, Luton, Reading or Crawley.

"City of London" is only a sqaure mile for Pete's sake. A huge majority of London city consists of the boroughs. Most importantly, there is only one mayor overseeing all the boroughs.

[Changing City]

Originally Posted by Vin

Do you know that the Shangri-la at the Shard is barely about 300m to the Tower Bridge, one of the most iconic landmarks in London?

Of course Southwark has a plan, it's just like Oakridge has a plan, Collinghood neighbourhood has a plan, Kitsilano has a plan, but they all belong to the City of Vancouver! If the tallest building were to be built at Marine Gateway, it would still be the pride of Vancouverites. If the tallest is built in Southwark, it would be the pride of all Londoners, not folks in neighbouring municipalities like Surrey, Luton, Reading or Crawley.

"City of London" is only a sqaure mile for Pete's sake. A huge majority of London city consists of the boroughs. Most importantly, there is only one mayor overseeing all the boroughs.

Of course I know where Tower Bridge is. It goes from the London Borough of Southwark to the London Borough of Tower Hamlets. I could see it from my office for the 10 years I worked in planning in that part of London.

You don't understand the structure of government in London, or how planning works there, and are ignoring the fact that many of the tallest buildings in London aren't in the city's core. As this 'conversation' has nothing to do with the City of Vancouver's tallest building,you can carry on dispensing your 'knowledge' without further correction.

[chowhou]

Just stirring the pot here: The Shard is quite obviously in the London city centre.

Also shut the fuck up about London and the Shard.