Quote:
Originally Posted by Sheba
Oh how starry eyed that seems now. It received Final Adoption Apr 2024 and... absolutely nothing has happened on-site since I posted over a year ago.
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I'd chalk it up to the inflation crisis over the past year with construction cost/labor cost woes that came along with it.
I just posted an update to another project in the environs - Anthem's Ethos project on Marlborough that finally seems too be going with excavation finally starting after the site has sat idle for the better part of more than a year after site clearing was completed at almost the same time as the Palm avenue project.
I realize Anthem are juggling quite a few balls in the Metrotown area at the moment between that project, Citizen on Kingsway and their jumping onboard the Telus Boot project (also seeing activity on the site vis-a-vis site prep for demolition), so most likely they just deprioritized it while the other projects got going.
But I get the sense from a lot of construction starts I'm seeing all over the place that maybe the inflation worries have eased up enough that a lot of developers are going ahead with projects they had sat pat on while the market conditions still looked shaky (?)
Granted it's all anecdotal, but still...
There's another Royal Oak project that seems to be moving along as well on Grimmer and Royal Oak where the Vanbank (?) used to be.
It's a 6 storey market rental or market strata project (Nido?) that also had a bit of a pause after they had received final approval
Also, the rezoning notification board for the McCarthy Plaza has been put up all around the site, so it seems like they to want to get that project moving along with the permitting process.
It wouldn't surprise me to see something happening soon on the Palm ave. site as well in the coming months.
So all in all, I think 2025 might be a busier year for construction and construction starts than 2024 was.