587 replies to this topic

[G-Man]

New York City!

[Galvanized]

^It's still a long way from Oak Bay!

[Holden West]

Deconstruction continues...

[gumgum]

Demolition has begun.
Video:
http://video.canada....px?fl=1&popup=1

[Holden West]

Wow, I got that picture just in time. I didn't know it was about to come down.

[Holden West]

Short profile of the OBBH in today's Globe & Mail.

[Ms. B. Havin]

[url=http://www.theglobeandmail.com/servlet/story/LAC.20070831.VANSITEOAKBAY31/TPStory/National:b349b]Short profile of the OBBH in today's Globe & Mail.[/url:b349b]

From that article:

PRICE: Discovery Club membership has an initial fee of $150,000. The 19 full-ownership residences range from $995,000 to $3-million.

SIZE: Residential suites range from 1,100 sq. ft. to 2,600 sq. ft.

I realize that the suites come with a whole range of services, but $3m for less than 3K sq.ft. is remarkable... Are there any other projects in the Greater Victoria area that compare?

[FunkyMunky]

Hotel needs cash influx
By Vivian Moreau - Oak Bay News - October 31, 2007

Rising constructions costs, increasing at $450,000 a month, have stalled the $40-million-plus project. Walker is currently entertaining three potential business partners to help with the redevelopment of the hotel that has been in his family for more than 30 years.

A decision will be made by end of November and with the right partner, Walker said construction could begin by June 2008.

Apparently construction ended back in September. Poor sod. A nice guy but he should have saved himself the trouble and lived within his condo zoning instead of trying to build a new hotel.

[Holden West]

Thanks for catching this. I missed it. Dang.

It would be nice if property owners could make that decision before the bulldozers come out, but oh, well.

[Ms. B. Havin]

Does anyone remember what the density was on this project?

[Holden West]

Oak Bay hotel project stalled, looking for cash

Owners negotiating with partner to help with redevelopment of landmark site

Kim Westad, Times Colonist
Published: Thursday, November 15, 2007

Hoteliers Kevin and Shawna Walker had planned for the 120-unit hotel and condo building to open in the spring of 2009, but escalating building costs have resulted in delays.

Kevin Walker said they realized in September they would need to "restrategize" to complete the hotel. "Our resources were not going to be enough for the current environment in the development world."

The owners are within four weeks of completing negotiations with a joint-venture partner, whom Walker wouldn't name, although he said the partner is expected to generate fresh energy as well as equity.

[spanky123]

"although he said the partner is expected to generate fresh energy as well as equity."

Polite way of saying that Mr. Walker and his wife are being shown the door. Poor sod, he did all of the work and now somebody else will get all of the $$$ and glory.

[VicHockeyFan]

"although he said the partner is expected to generate fresh energy as well as equity."

Polite way of saying that Mr. Walker and his wife are being shown the door. Poor sod, he did all of the work and now somebody else will get all of the $$$ and glory.

Well, the very least he walks away with is the price of some very expensive land and the goodwill. That's no small change.

[spanky123]

Well, the very least he walks away with is the price of some very expensive land and the goodwill. That's no small change.

We don't know at all. If he leveraged the land to get financing he may very well walk away with the shirt on his back and a sore butt.

Normally when you have to go to the well to put out the fire you don't get lots of opportunity to dictate the terms.

[gumgum]

Two condos from this project are still on MLS. I wonder if it's just a mistake.
Here's the cheaper of the two. A 1 bedroom 2 bath for a mere 1.1 million.

[gumgum]

There a pretty cool fly through on their website.

[VicHockeyFan]

There a pretty cool fly through on their website.

Complete with eerie music. I love it.

[gumgum]

I've been waiting for this Don't-rule-us-out-our-plans-are-still-alive article.

Oak Bay Beach Hotel project adds green managers
Andrew A. Duffy, Times Colonist
Published: Wednesday, February 13, 2008

When the new look Oak Bay Beach Hotel finally rises from its empty lot on Beach Drive, it's likely to be a shade or two greener following the appointment of David Butterfield and Doug Makaroff as development managers.

The men, responsible for the Shoal Point development which is considered one of the country's most advanced sustainable projects, join the team led by owner Kevin Walker to get the stalled Oak Bay project out of the ground this spring.

[...]

aduffy@tc.canwest.com


© Times Colonist (Victoria) 2008

[spanky123]

I see David Butterfield is back in town. Anyone have money invested in Loreto Bay?

[VicHockeyFan]

CFAX:

PEOPLE LINING UP TO PAY MILLIONS TO LIVE IN YET TO BE BUILT OAK BAY BEACH HOTEL

Jun 24, 2008

IT'S NOT SCHEDULED TO OPEN UNTIL 2010 BUT PEOPLE ARE ALREADY LINING UP FOR A CHANCE TO LIVE IN THE YET-TO-BE-BUILT OAK BAY BEACH HOTEL.

THE 20 PERMANENT SUITES WILL ALL BE PENTHOUSES AND SUB PENTHOUSES.

THE CHEAPEST, AT 875 SQUARE FEET, GOES FOR ABOUT A MILLION DOLLARS WITH THE LARGER 2,285 SQUARE FOOT SUITES GOING FOR ABOUT FOUR- MILLION.

HOTEL OWNER KEVIN WALKER SAYS THE RESPONSE HAS ALREADY BEEN GREAT.

“THERE ARE ONLY 20 FORTUNATE PEOPLE WHO WILL BE ABLE TO, IN THE END, CALL THE OAK BAY BEACH HOTEL HOME. WE HAVE LITERALLY DOZENS ALREADY WHO HAVE REGISTERED FOR THE EVENT AND I SUSPECT THAT WILL GROW TO HUNDREDS BY THE TIME WE ARE DONE.”

WOOD SAYS THE SUITES NEED TO BE SOLD BEFORE CONSTRUCTION OF THE HOTEL CAN BEGIN.

HE SAYS HE EXPECTS THE SUITES WILL BE SOLD BY THIS AUGUST.

THE HOTEL WILL ALSO FEATURE 100 REGULAR ROOMS.

- ADAM STIRLING