Suburban Updates - Page 25

officedweller · #**481** Posted **Apr 23, 2008, 9:56 PM**

NW condo in receivership
By Michael McQuillan - Burnaby NewsLeader - April 18, 2008

The Amadeo condominium development on Sixth Street in New Westminster has been placed into a court-ordered receivership.

David Bowra, president of the Bowra Group, said his company was appointed as receivers after the developer ran into financial difficulties and was unable to complete the project.

The 10-storey, 41-unit mixed-use development was originally scheduled to be completed in the spring of 2005. However, Century Point Residences Ltd. ran into problems due to the rising cost of construction and financing the building, located at 306 Sixth Street.

The actual start of the construction was delayed until the spring of 2006 as the company sought financing. Work has now stopped on the building, which is about 60 to 65 per cent complete.

Bowra said Coast Capital Savings is the project’s largest creditor, owed approximately $11.2 million in a secure line of credit. As well, some of the construction trades and three remaining pre-sale purchasers are owed money.

Century Point, a Vancouver company, pre-sold 32 of the 41 residential units. But when the project was not completed in May 2005, the developer used a contract clause to cancel their agreements and return their deposits.

Three buyers have not accepted their deposits back and are currently suing Century Point and president Michael Orville, alleging construction was unnecessarily delayed in order to resell the units at a higher price.

The next step for the receiver will be working with creditors to determine the “viability” of competing the project, said Bowra.

The suit filed by the pre-sale purchasers will be before the courts May 1 and 2.

mmcquillan@burnabynewsleader.com

SpongeG · #**482** Posted **Apr 23, 2008, 10:18 PM**

Quote:

Originally Posted by cornholio

A tunnel would be better but pricey. I believe originally the plan was to not have a tunnel though I never understood how they would go about doing that since its pretty steep along the hydro right of way and there is no room to have switch backs to reduce the grade because of the mountain/park on the west and residential/refinery tanks on the east....not to mention its a beautiful area. Any case like I mentioned this would make a SFU/WCE connection more likely.

a tunnel is a dream scenario

i thought the WCE was going to go in at the end of willingdon area to serve north burnaby

David · #**483** Posted **Apr 24, 2008, 4:48 AM**

they finally came to their senses and realized a municipality that is crossed by 2 Skytrains and (soon) a B-Line along Hastings doesn't need a commuter rail station, adding another place to stop for all the people on the WCE, and adding more passengers to the already cramped trains..

Lead · #**484** Posted **Apr 25, 2008, 6:05 AM**

We're seeing many new projects for Surrey so I thought it would be a good idea to keep track of them all. I've only included the major ones so far and I know I'm missing some so definitely contribute with any information on other projects or the ones already here. Even if this has no real purpose I thought it was cool to have all the projects displayed at once

- Added SFU Surrey Student Res.
- Added D'corize

Images from SFUVancouver, jhausner, Flickr, and Emporis

Enjoy!

Volksboi · #**485** Posted **Apr 25, 2008, 6:38 AM**

Only one I can think of that is missing is "Decorize" which is the 22 story tower, 3rd phase of the decor package and the two SFU tower which are 15 and 22 storys I think.. There are several other towers in the talks through that will blow some peoples minds..cant wait till they go public...

Lead · #**486** Posted **Apr 25, 2008, 7:05 AM**

Any hints?

Volksboi · #**487** Posted **Apr 25, 2008, 7:08 AM**

Lets just say that Central City is getting something very "vancouver"...its still in the planning stages, but the city is on board and very excited about it. Lets just say its going to give Central City tower a run for its money..

LeftCoaster · #**488** Posted **Apr 25, 2008, 3:06 PM**

^ Cool, I haven't heard of this one, keep us informed if you can.

Lead, thanks for the diagram, but any chance you could make it a bit bigger? Also I'll grab some heights of the Gateway towers for you if I can... It might still be a bit too preliminary for any concrete numbers though.

GMasterAres · #**489** Posted **Apr 25, 2008, 3:53 PM**

Quote:

Originally Posted by Volksboi

Lets just say that Central City is getting something very "vancouver"...its still in the planning stages, but the city is on board and very excited about it. Lets just say its going to give Central City tower a run for its money..

Guessing this is going to be part of the city hall relocation and built across the street from Central City?

If you can't release more info or confirmation on that no worries. :-) That's my 'guess' though.

BattleAxe · #**490** Posted **Apr 25, 2008, 5:14 PM**

D'corize has been missing from this forum. Its located on 104ave and Whalley Ring Road, just west of King George Hwy.

Right now I think they have built up to the 4th floor. I think its supposed to be 25 stories.

BattleAxe · #**491** Posted **Apr 25, 2008, 5:25 PM**

Sorry about this guys, check out this site..... http://dcorize.ca/index.html

BattleAxe · #**492** Posted **Apr 25, 2008, 5:32 PM**

Heres one more...... http://www.seanstevens.ca/media/DCORIZEpaper.pdf

Volksboi · #**493** Posted **Apr 25, 2008, 5:35 PM**

Quote:

Originally Posted by jhausner

Guessing this is going to be part of the city hall relocation and built across the street from Central City?

If you can't release more info or confirmation on that no worries. :-) That's my 'guess' though.

Nope its not the new City Hall, I cants say much yet... I will keep you guys informed though as soon as I can say somthing..

GMasterAres · #**494** Posted **Apr 25, 2008, 7:13 PM**

Quote:

Originally Posted by Volksboi

Nope its not the new City Hall, I cants say much yet... I will keep you guys informed though as soon as I can say somthing..

Nice. That's actually good news that it isn't since they were claiming the new city hall will be part of basically a Central City tower #2. The more high-rises the better imo.

Keep us informed when you can.

dreambrother808 · #**495** Posted **Apr 25, 2008, 7:34 PM**

is it just me or are those d'corize renderings truly fugly?

GMasterAres · #**496** Posted **Apr 25, 2008, 7:47 PM**

Yah I was never impressed with their renderings. I think the buildings looks interesting, but the whole advertisement was meh.

But yes it's under construction right now and about the 4th floor as was mentioned. So probably will be topped out by October.

Lead · #**497** Posted **Apr 25, 2008, 10:37 PM**

K I updated it. Thanks for the help guys, and if you know any of the heights for the towers plz let me know!!

Also is anyone going to update the Surrey diagrams, I noticed they are missing a lot of the projects and there are no diagram pictures

SpongeG · #**498** Posted **Apr 26, 2008, 5:23 AM**

south surrey is nuts - was driving around trying to find the walmart

so much building going on

the shopping area will be good for people down there cause its a long freaking way into surrey to shop

cc85 · #**499** Posted **Apr 26, 2008, 9:35 PM**

a 50 storey tower has been mentioned.

raggedy13 · #**500** Posted **Apr 26, 2008, 10:45 PM**

Great project inventory image Lead. Surrey sure is making up for lost time on the tower front.

Quote:

Originally Posted by Volksboi

Lets just say that Central City is getting something very "vancouver"...its still in the planning stages, but the city is on board and very excited about it. Lets just say its going to give Central City tower a run for its money..

I hope it's a nice tall office tower with amazing design - something to give Vancouver a thing or two to think about... and maybe set off a race for the tallest city in the Lower Mainland??