1697 replies to this topic

[Nparker]

Any thoughts of increasing density (i.e. height) in order to make future phases more cost-effective?

[Gary H]

Don't know, we were at the Point Hope tour this afternoon.  These were pics of the tail end summary session.  I think tomorrow at Noon they'll be doing a recap of the design so far.

[aastra]

Has this briefing document been posted here already?

 

Nice pic with Promontory in the background. So would the second tower fill in that gap somewhat?

[Mike K.]

Yes exactly, but Focus will move on a Roundhouse tower in advance of the third Bayview tower. Next up is a lowrise seniors residence at Bayview.

[Mr Cook Street]

Dissapointed to see they are not looking to increase density onsite. They actually state in the document that they might spread the density more evenly throught the site. Sounds like more short, squat buildings instead of a few tall ones....sigh.

[Mike K.]

Yup, they may very well settle on more six storey wood frame buildings rather than concrete midrises.

The bank is now behind this project, not a developer, and how many banks are known throughout the world for singlehandedly developing real-estate?

[rambaldi]

The bank is now behind this project, not a developer, and how many banks are known throughout the world for singlehandedly developing real-estate?

 

WHAT IS VANCITY’S ROLE AS A DEVELOPER? AND WHAT DO YOU MEAN BY NEIGHBOURHOOD BUILDER? 
 

Vancity will remain responsible for managing Dockside Green and for developing all the neighbourhood elements, roads, parks, design guidelines and public amenities and infrastructure. We will seek 

partnership with like-minded builders to construct buildings. 

 

Source: https://www.placespe...mmary_all_1.pdf

[Mike K.]

What is a like-minded builder?

[VicHockeyFan]

What is a like-minded builder?

 

One that shares the same values, goals, social conscience and business ethics.  And can get get them the hell out of this mess they got themselves in.

[Mike K.]

A builder just gets a contract and builds, right? Will there be a tendering process or will they choose the sort of builder you describe regardless of cost?

Farmer Construction set up shop at DG more or less with the expectation they'd build the project.

[concorde]

Vancity was always a development partner in this project from the start.  Remember a credit union is different than a major chartered bank

 

Ledcor sought to buy out the development a few years ago, but couldn't make the numbers work so pulled the plug

[Mike K.]

VanCity was more of a financial partner, wasn't it? It was Joe Van B. and Windmill that brought the project together. VanCity's Jacques-Something (i apologize for not knowing the last name) advocated woodframe construction to remain profitable but Windmill went for concrete. Jacques was subsequently let go once the project faltered and Windmill left as well.

I sure hope the essence of the original plan will be preserved and we won't end up with a plethora of woodframe buildings in lieu of the towers that were initially proposed and subsequently approved.

I still don't understand what a like-minded builder is. Does this mean VanCity intends to auction off each development parcel to a developer who will then take the reigns for that one parcel, or are they referring to a contractor?

[sdwright.vic]

Love the suggestion that others should hire security guards to ensure the safety and well being of their property and neighborhood, yet if someone even suggested raising taxes so there was enough money to fund a police force they would scream bloody murder.

I think telling others to hire there own to deal with issues creates a slippery slope... we have enough empires without creating a bunch of privately policed areas.

[concorde]

Its been so long that I don't remember the exact details of VanCity's involvement, but yes one of their main functions was always financial.  I can't even remember why Joe Van Bellegham left 4 years ago

 

I don't know Jacques, do you mean Jack Julseth, but he's not with Vancity

 

Vancity will do anything to recover their investment like any business.  The last I heard they were trying to sell the whole thing, but have had no takers

[Mike K.]

Ah, found the name. It was Jacques Khouri who was the CEO of VanCity Enterprises and he alleged VanCity fired him over his ideas for affordable housing at Dockside Green. He maintained DG should have gone with woodframe instead of concrete which cost a lot to build and made the affordable housing requirement difficult to achieve.

 

VanCity should do what HSBC did with Bear Mountain, sell it and move on.

[concorde]

Ah, found the name. It was Jacques Khouri who was the CEO of VanCity Enterprises and he alleged VanCity fired him over his ideas for affordable housing at Dockside Green. He maintained DG should have gone with woodframe instead of concrete which cost a lot to build and made the affordable housing requirement difficult to achieve.

 

VanCity should do what HSBC did with Bear Mountain, sell it and move on.

True, but they can't find a buyer.  On top of that construction everywhere is grinding to a halt

[Mike K.]

They're not in it for $50 million, are they (do you know how much?)? I mean the entire swath of Bear Mountain sold for some $40 million or thereabouts.

[concorde]

I have no idea what they have in Dockside, its a private project and I doubt would ever be released.  Well maybe on the Vancity annual financials possibly.

 

HSBC was into Bear Mountain for over $250 million and yes sold for around $40 mil but that was only released because of the court documents.  I heard HSBC spent $4+ million in legal fees

[Mike K.]

I had heard Dockside spent around $8-$10 million on remediation but the City sold them the land for $1. Do you know what they asked when the last deal nearly closed?

[concorde]

I have no idea what Dockside has spent in infrastructure and remediation to date.  Can't help you with the asking price either, but I did know if was too expensive for the economics to work.

 

Maybe the city should take back the lands since agreed milestones were not met which puts the contract in default.  Then the city could resell the land