48 replies to this topic

[Victoria Watcher]

Is this still in play?

 

What requires tackling?

 

 

 

https://www.timescol...google_vignette

 

Alto said there’s enthusiasm around the council table for tackling things like Crystal Pool, Royal Athletic Park and Ship Point, but they will have to be realistic given the financial reality.

 

“Ship Point for example may start in this term, but it’s so big that I can’t imagine it could be completed in this term,” she said, adding that competing for time and resources are massive infrastructure projects to improve retaining walls, water and sewer systems, and roads.

 

They’re also tackling community safety with a panel of community leaders that will report back with options in the fall that are also likely to challenge the budget.

 

“There are so many things I’d like to do, and it’s hard to pick,” Alto said. “I think you’ll see introduction of some new things, but always in consideration of our ability to pay.”

Edited by Victoria Watcher, 28 December 2023 - 05:48 AM.

[baconnbits]

They should sell off RAP on a 25 year concessionary agreement whereby the lessor can invest in the stadium to attract new teams and events, sell signage for the stadium and not be required to use the ridiculous union labor that is presently required which is cost prohibitive at a boutique stadium in a small town
Take that money to help fund the crystal pool.
Take all the aggregated land at the water front and come up with an attractive design that includes green space, office/retail, residential condo and rental. Sell the right to develop that land on a 99 year ground lease to the best bidder.
City retains ownership of everything but hands operations off to the private sector and pockets money.

[baconnbits]

While they are at it they could do the same structure with the crystal pool and sell the right to build and own it for say 30 years with the city leasing it back at fixed annual rates.
There are infrastructure investment groups out there who would pay good money to build it and not require a crazy rental rate from the city.

[Victoria Watcher]

While they are at it they could do the same structure with the crystal pool and sell the right to build and own it for say 30 years with the city leasing it back at fixed annual rates.
There are infrastructure investment groups out there who would pay good money to build it and not require a crazy rental rate from the city.

 

I have said this before, too.

 

They could let a developer make the pool to the city's specs with residential on the same site and not pay anything for it but operations and maintenance going forward.

 

Saanich should have done the same with their new fire hall.

Edited by Victoria Watcher, 28 December 2023 - 12:54 PM.

[Mike K.]

Langford did something similar with the Y, no?

[Victoria Watcher]

Langford did something similar with the Y, no?

 

Not too similar to what I envision.

 

 

Conditions have been challenging since the Westhills YMCA opened in 2016. While 65% of its current membership hails from the Westshore, revenue simply hasn’t been enough to cover the fixed operating costs at the 60,000 sq. foot YM-YWCA Westhills facility, Gent said.

 

The bulk of its expenses come from the market rate rent of about $1.5 million a year. The landlord and neighbourhood developer Westhills Land Corp. voluntarily deferred a percentage of the rent during the pandemic—arrears that now total $1.6 million—but the corporation is now asking for rent in full.

 

The YMCA is at half of the memberships it had before 2020. “We lost a huge chunk of our operating revenue,” Gent said, calling the pandemic the single largest disruptor of habits since the second World War.

 

 

https://www.thewests...-1-million-ymca

 

 

 

 

 

My idea is the developer gets some free land, or at least free "air" above the pool, in/on which to build, in exchange for delivering a pool.

 

 

 

 

 

Commercial land in Vancouver sits between $3 million and $3.5 million per acre with residential land between $4 million and $4.5 million, roughly $3 million more than Toronto, according to the May 30 national land report.

 

https://biv.com/arti...canada-colliers

 

 

 

 

 

It might not quite work straight across, as I think the entire park and Crystal Pool site is about 6 acres.

 

Edited by Victoria Watcher, 28 December 2023 - 01:16 PM.

[dasmo]

The pandemic measures….

[Victoria Watcher]

Of course the province bought the Travellers Inn at 1961 Douglas for $25 million and is going to tear it down.  And it's less than 1 acre.

[dasmo]

Money laundering….