551 replies to this topic

[Mike K.]

I suppose it's safe to mark this project as "canceled."

[baconnbits]

assuming towline finalizes everything, it's pretty safe to say it wont be called radius or look like radius as we know it
so radius would have to be considered cancelled! good riddance to bad rubbish

[Mike K.]

Done.

In regards to Townline's involvement I'm glad they'll be at the wheel. This will ensure cohesion between all three of their major downtown properties.

[Nparker]

assuming towline finalizes everything, it's pretty safe to say it wont be called radius or look like radius as we know it
so radius would have to be considered cancelled! Good riddance to bad rubbish

That last sentence is a bit harsh I think. I believethe goals of Radius were quite laudable. It had the potential to be a very good mixed-use project. The execution however was abysmal (starting with that hokey website). Anyone who went into a project of this magnitude without thoroughly securing financing was inept and should look long and hard at why they failed to make a go of this. If Townline is in fact the new owner of the site, I wish them well in developing a high quality project worthy of Victoria.

[Caramia]

There are a few elements of the Radius I really hope that Townline keeps - The mixed use of office, residential and various kinds of institutional and retail I think was awesome. I would love to see CanWest University still locate there. The idea for a daycare was wonderful and much needed downtown. The idea of putting raised bed community gardens for residents on the roof was also superb.

[jklymak]

Yes I agree, but I wonder how much these amenities contributed to its inability to remain solvent?

[spanky123]

Anyone who went into a project of this magnitude without thoroughly securing financing was inept and should look long and hard at why they failed to make a go of this.

Sure but what percentage of developments in Victoria recently have proceeded along the same lines? Seems like almost everyone simply pre-sold a few units and then threw the dice.

[Caramia]

Well that is part of the industry isn't it? Risk.
How many developers lost their shirt on the road to building the Uplands? Or any other major project?

[concorde]

I heard a rumor that the Radius project has officially been sold to Townline Group as of last Friday. It might explain why the sales office and website are down. I'm going to try and phone an executive at Townline that I know tomorrow and see if there are any truth to the rumors.

I talked to Townline today, its not official, but they have expressed interest in purchase of the site, but it is still in the early stages of negotiation.

[concorde]

I would love to see CanWest University still locate there.

They will be the first to go. They don't have any money and the only reason they were a tenant in Radius is that John Schucht, the original developer, sat on the board of directors.

[Mike K.]

^I hadn't realized that. I wondered why CanWest with it's low number of students (is it 60, or even less than that?) was moving into the costliest downtown office digs.

[Caramia]

They do have property however, which if liquidated would give them plenty of money.

[spanky123]

Didn't UCW just lease the old Blanshard school property from the Province?

[VicHockeyFan]

Didn't UCW just lease the old Blanshard school property from the Province?

99-year lease from the school board. That is like cash though.

[spanky123]

99-year lease from the school board. That is like cash though.

Yes but you can guarantee that the school board would have to sign off on any sub-lease or assignment and what do you think the optics are if a guys sub leases property and then a couple of years later flips it for a whack of dough? It would make the Government look like idiots and that isn't going to happen.

[VicHockeyFan]

Yes but you can guarantee that the school board would have to sign off on any sub-lease or assignment and what do you think the optics are if a guys sub leases property and then a couple of years later flips it for a whack of dough? It would make the Government look like idiots and that isn't going to happen.

It wouldn't be the first time the government did something stupid or looked stupid, or both. A lot of leases allow sub-leases, that saves the landlord litigation hassle in the case of default - it essentially makes the tenant responsible for replacing himself.

Wasn't there already some type of proposal/idea for townhomes on the field facing Hillside?

[Mike K.]

Wasn't there already some type of proposal/idea for townhomes on the field facing Hillside?

I was just going to mention that the UCW lands along Hillside are planned for a seniors community, or something to that effect.

[Ms. B. Havin]

I don't have any insider information myself, but I wouldn't want to speculate about UCW's financial health.

What you see upfront in terms of bums-in-seats students isn't necessarily where their interests lie.

IIRC, they have a plan around getting Pacific Rim students via distance education. If that's the case, then who knows where they are financially? I don't.

[VicHockeyFan]

Looky here:

Whistler university would provide Olympic legacy: educators

Bal Brach, Canwest News Service
Published: Monday, February 18, 2008

WHISTLER - Two prominent B.C. educators say their idea to establish a university in Whistler would provide an Olympic legacy like no other.

Doug Player and former University of Victoria president David Strong say a Whistler university would provide much-needed diversity for the local economy and create a new pool of potential workers.

The idea started when John Zen, the owner of a 31-hectare (77-acre) property was looking for something to do with the land three years ago, according to Player.

The university, with undergraduate and graduate programs, would include student residences in an area known as Alpha Lands.

Player, a retired superintendent of the West Vancouver school district, said the university would use no more than 10 hectares (25 acres) of the Alpha Creek Lands across from the 2010 Winter Olympics athletes' village in Whistler.

"I did a focus group with business people there and their response was overwhelmingly positive," he said.

After taking the same presentation to Whistler Mayor Ken Melamed, Player said he hit a brick wall and the project has been stalled since.

"His issue is he doesn't want anything on the land."

Melamed, however, said he supports the idea of a university in Whistler, but one that's consistent with the community plan. "We have a self-imposed growth plan," said Melamed. "We don't have additional development rights to give out, unless the community decides it's appropriate."

Melamed said the proposal also conflicts with Whistler's commitment to environmental stewardship. "I'm quite aware this proponent is saying their site is environmentally sensitive, and only developing on the non-sensitive areas, but our environmental mapping suggests the whole area is sensitive," said Melamed.

Player describes the university as a good, clean industry that meets many of the objectives of the Whistler 2020 plan. According to Player, environmental studies show 50 per cent of the land could be developed and the university would only use 25 per cent.

The area, which was originally zoned for schools, is now zoned for housing. "We have lots of million-dollar homes up there. A university would contribute $30 million into the economy each year."

The university would be a satellite of University Canada West, a private, for-profit university that started up a couple of years ago and offers classes in Victoria and Vancouver. It would be the second private university along the Whistler corridor.

Quest University in Squamish was opened six months ago by former University of B.C. president David Strangway. While Quest has a focus on the arts, Player said Whistler U would have programs related to tourism, leadership and business executives.

"In Whistler you have all the hotels and they're screaming for help - it's a great training ground for people to do things such as international hotel management."

Player said the programs would include work experience and provide a steady stream of part-time workers, of which Whistler is in constant need.

"The occupancy rate is just over 50 per cent and that's not enough for these hoteliers to survive."

He believes a university in Whistler would result in conferences and meetings that would attract visitors and boost the local economy.

"A university attracts executives for programs, it attracts conferences. We wouldn't use university facilities for that, we'd use Whistler facilities."

More than half of the 1,200 prospective students would be international students. The proposal for the university has yet to be taken to Whistler council.

http://www.universit...s/news_063.html

[Mike K.]

David Strong was the pres. of UVic but he is still the head of UCW according to their website. I say this because his name is in bold in that article, which I assume is done to emphasize his past, or?