302 replies to this topic

[Nparker]

Looks like they've paused work on the concrete on the tower for now...

Indeed. There appears to have only been one additional floor added in the past month.

[nrtphotos]

It’s pretty much slowed to a snails pace since they submitted the proposal, very little action since then. Looks like they will get their answer on Monday. It’s interesting, the proposal on the Esquimalt website now contains letters to council, almost all are opposed. Still hoping the quality will start to improve… 

[nrtphotos]

It’s also becoming pretty apparent that the final design has significant changes compared to even the model they had in the sales unit Downtown. Some changes I like, others are a little disappointing. 

[DavidSchell]

Motion defeated, 3 for, 3 against.

[Citified.ca]

Yes, the mayor wasn't thrilled. The motion was defeated by a tie. C. Boardman was absent.

 

Esquimalt rejects extra height ask for underway Pacific House condo tower

https://victoria.cit...se-condo-tower/

[Nparker]

Vote should not have been taken without full council present.

[DavidSchell]

the mayor wasn't thrilled.

Yep, she really went on a rant and seemed a bit miffed when she got push back

[nrtphotos]

I was there, I thought she stated her opinions fairly well in regards to the situation. Tim was muttering under his breath and they traded back and forth. Darlene was just shaking her head throughout most of Barbs points and didn’t really have an intelligent explanation as to why she opposed it besides it being too big, at least Tom explained in detail why he was opposed. The developer for the Vista basically stormed off and had lots of colourful commentary outside, made a comment about it being the next “abandoned skeleton” too. Made me wonder if he’s somehow financially involved. 

 

Lexi certainly hasn’t bought themselves too many favours in the neighbourhood, the neighbours came out in large numbers and made their opinions heard. The developer really stumbled when the councillor repeatedly questioned him on the motives behind the proposal, his answers weren’t very convincing. Only one buyer briefly came up in support. The woman who claimed to be a lawyer, UBC professor and buyer certainly made her displeasure clear too. 
 

Hopefully Lexi starts focusing on completion and improving construction quality. Work has slowed down significantly since the proposal was made, let’s hope they get back in gear and building a quality product. 

Yep, she really went on a rant and seemed a bit miffed when she got push back

[Nparker]

...let’s hope they get back in gear and building a quality product. 

I wouldn't count on that. The developer will likely finish it as cheaply as possible.

[DavidSchell]

I wouldn't count on that. The developer will likely finish it as cheaply as possible.

That is my fear now.

[MarkoJ]

I was attending a Colwood council meeting tonight so I didn't get a chance to watch this yet. Any comments at meeting re Esquimalt getting a 800k +/- unit out of this? Seems like that's a decent contribution.

[Victoria Watcher]

This is the correct decision by council. This isn’t a minor change, and the original hearing for this project hashed out all the issues.

If the developer doesn’t have the cash to move forward then it should be allowed to fail and the bankruptcy process shall play out.

It would have been very bad governance to allow such a change.

Only one buyer in support says something too.

Marko, were you approached and asked to support the change publicalky?

Edited by Victoria Watcher, 27 February 2024 - 12:36 AM.

[Mike K.]

The exchange between the mayor and C. Morrison was more a misunderstanding than a difference of opinion. They were both right. The mayor was correct that unsold units would now have to sell for much more. And C. Morrison was correct that sold units would remain priced at their sale price. Ultimately the mayor’s point was the one that is relevant, and that’s what she was speaking to, that this decision isn’t helping affordability. C. Morrison may have misunderstood that as affordability for existing buyers.

The lesson here is the days of whittling down proposals by a floor or two are over. It does nothing, ultimately, but reduce housing supply and can lead to projects being precariously positioned in a turbulent economic environment like we have today.

My fear is the developer is in a bind and they may find it challenging to complete the project if their costs cannot be reigned in.

So what’s the thinking on the 900s proposal across the street? Is council going to try to whittle down that proposal as well, or accept that a developer as seasoned as GMC Projects knows what it takes to deliver a successful building, and that their proposal is conceived as it is for a reason? Link: https://www.900esquimalt.com/

[nrtphotos]

I was really indifferent going into the meeting as to what way this was going to go. If granted, I would have wanted Lexi to make a good proposal to existing buyers to keep us happy with delays and associated costs - they never really offered any details leading up to the vote. Council overall didn’t seem too interested in the donated unit, comments included the headaches of being a landlord and how amenities shouldn’t even be considered. I’d love to hear more from the Pawn Shop owner, he certainly isn’t a fan.

I agree that it’s going to be VERY interesting to see how they approach the massive proposal across the street, it absolutely dwarfs anything around it.

I do fear that they are now in a position where they can’t afford to continue, they have roughly ten outstanding lawsuits that are viewable on CSO - almost all regarding payment issues. The developer who was with them and spoke in favour of the proposal certainly made it seem like they might be in trouble when he was having his rant outside, who knows. At this point I wouldn’t be terribly upset if the project was sold or bought out by a more reputable developer who can take it across the finish line and right some of the wrongs.

[Nparker]

,,,I do fear that they are now in a position where they can’t afford to continue...

Expect to see this sit as a half-finished hulk for some time.

[MarkoJ]

Marko, were you approached and asked to support the change publicalky?

 

No I wasn't. As a buyer in the project I was indifferent to be honest. 

 

As a taxpayer it would has set a bad precedent; however, are we or are we not in a housing crisis? The Roundhouse just got a huge density increase so what is a few floors here? 

 

First all of all, how this something this important go to a tie, wtf. 

 

Second of all, why not do some reasonable negotiations as the municipality. For example, meet them in the middle at one floor. Or instead of the "free condo" ask for $2 million in cash for amenities in Esquimalt, or something. 

 

For this to be a straight up no in a housing crisis on a tie vote doesn't sit super well with me. 

 

I walk every morning along the Songhees walkway and it is dead. I pass the same few people every morning. This area and Songhees great opportunity to add more density imo with some beautiful underutilized public amenities already in place.

Edited by MarkoJ, 27 February 2024 - 10:38 AM.

[Nparker]

...how does something this important go to a tie, wtf...For this to be a straight up no in a housing crisis on a tie vote doesn't sit super well with me...

This is my feeling as well.

[Mike K.]

If granted, I would have wanted Lexi to make a good proposal to existing buyers to keep us happy with delays and associated costs - they never really offered any details leading up to the vote.

 

 

It's a bit of a chicken-and-egg scenario. Without a disclosure statement to present, they cannot bargain with you, and there will not be a disclosure statement until they have their approvals in hand. Engaging in hypotheticals is a no-no for a developer negotiating with a signed buyer.

 

At least that's my read on how that works. Can anyone else opine on that?

[Victoria Watcher]

Anybody know why they have that overhead bar over the upper deck at each end?

[lanforod]

Anybody know why they have that overhead bar over the upper deck at each end?

 

Gotta drink somewhere, bars are great.