254 replies to this topic

[victoriacarpenter]

Last word was that the investors had pulled out and the formwork company, Acropolis Ventures (Vancouver Based) has gone bankrupt.

Do you really think we can sell this many condos in Victoria and area? At least we are creating our own solution to the homeless problem........

[Nparker]

The increasing number of stalled large-scale projects in the region is becoming a case of the Emperor's new clothes. Everyone can see there is a problem, but no one is willing to speak of it, lest they be the one to expose the naked monarch.

[Mike K.]

It's not the market that is causing the problem, it's the developers. Radius and Silkwind are stalled due to financial planning, not the market.

While there is a correction taking place, it is by no means indicative of a crashing real-estate market or some sort of end to people who want to buy real-estate. This region is still putting on between 3,000 and 4,000 people a year and has a growing international reputation for vacation home buyers. These individuals need places to live and want places to buy.

[Mike K.]

Sotheby's has taken over sales and pricing has been reconfigured, so it looks like the project is still a go.

[LJ]

The developers are awaiting construction financing finalization.

[Holden West]

The developers are awaiting construction financing finalization.

Aren't we all.

[Mike K.]

The website has been updated.

[Phil McAvity]

It's not the market that is causing the problem, it's the developers. Radius and Silkwind are stalled due to financial planning, not the market.

While there is a correction taking place, it is by no means indicative of a crashing real-estate market or some sort of end to people who want to buy real-estate. This region is still putting on between 3,000 and 4,000 people a year and has a growing international reputation for vacation home buyers. These individuals need places to live and want places to buy.

The market is a big part of it though given that the cost of materials has skyrocketed recently which makes financing and selling any new project that much tougher. The West Comms particularly are a perfect example of wallets that can't match their ambition so i'm not surprised at all to see a toe tag hanging off the foot of Silkwind. What a horrible name too. "Silkwind"! This building would look great.......downtown, but at Colwood corners......not so much.

[LJ]

This building would look great.......downtown, but at Colwood corners......not so much.

Pretty soon Colwood corners will be downtown.

[Nparker]

Pretty soon Colwood Corners will be downtown.

If by "pretty soon" you mean 40 years then you may be right.

[Koru]

In the light of Acropolis Group of Companies going under. I've recently heard a little rumor from Vancouver that Con Form from Vancouver may be now involved in the form work side of this project

[Phil McAvity]

I'd be willing to make a substantial bet that this project will turn into another humdrum 4 storey building.

[Nparker]

This highrise design makes NO sense in a suburb like Colwood at the present time. Any chance this "triangular" design can be moved to the corner of Douglas & Fairfield (the current Budget car rental lot the city is proposing to redevelop)? It could be re-envisioned as part hotel and part condo (with ground floor retail of course). This sort of mixed-use design is common in other cities.

[G-Man]

^ Dream on

[davek]

I'd be willing to make a substantial bet that this project will turn into another humdrum 4 storey building.

I understand the developers are just waiting until they have sold some more units before they continue.

[Nparker]

I understand the developers are just waiting until they have sold some more units before they continue.

Yeah sure, just like the Radius ...

[concorde]

I'm trying to remember when this project stalled? Was it 4-5 months ago?

[Mike K.]

I seem to recall that progress all but stopped around Christmas/New Years.

[Nparker]

I seem to recall that progress all but stopped around Christmas/New Years.

Pretty much the same time as Radius died.

[victoriacarpenter]

Is it just a coincidence that both of the big holes in the area have Kinetic Construction signs on them or what?