1035 replies to this topic

[concorde]

Technically within the construction industry, this project would be considered stalled. Up until now there has been work done on it, with respect to plans, marketing plans, market anaylisis in some varying capacity etc. Yes according to the stalled/approved system on VV. In terms of the reality of the development world, this project is completely stalled

I agree with you Marcat.

[bicycles]

any updates on this?

[Mike K.]

It's still on the market. No word on a possible buyer.

[Jacques Cadé]

Major Vic West real estate development set to resume

Bayview has since taken on an investment partner, Bosa Properties. The details of Bosa's involvement and possibly a timeline for resuming the multi phase development are expected to be laid out in a statement later today.

Gee, I wonder if this has any connection to Victoria council's decision last week to keep the railway off the new bridge and have it end at the roundhouse.

[Bingo]

Major Vic West real estate development set to resume

Gee, I wonder if this has any connection to Victoria council's decision last week to keep the railway off the new bridge and have it end at the roundhouse.

You are probably right on, but it may also have something to do with the last hurdle towards the promise of a brand new "100 year" bridge.

[aastra]

I'm still not getting the connection between the rail line and potential condo development. Can somebody please explain?

[Mike K.]

Bosa vowed never to return to Victoria after the political fiasco they endured when building the 15-storey Manhattan tower on Yates Street.

I guess they've let the past be the past?

I'm still not getting the connection between the rail line and potential condo development. Can somebody please explain?

It doesn't hurt to have a transportation terminal on your property. Imagine living in a condo development that has Victoria's only train station? Not to mention the benefits future retailers will realize from commuter (if commuter rail ever happens) and tourism passengers.

Gee, I wonder if this has any connection to Victoria council's decision last week to keep the railway off the new bridge and have it end at the roundhouse.

This deal had been in the works before the decision on rail was made by council.

[aastra]

Me confused.

I read the comment by Jacques Cadé to mean:
"Bayview condos are more viable now that the rail line will extend no further east than the roundhouse."

I read your comment to mean:
"Bayview condos are more viable now that a rail station will be built at the roundhouse."

If the potential for commuter rail aids the viability of Bayview condos then wouldn't the truncation of the line actually be a bad thing for Bayview condos?

[Jacques Cadé]

No rails on the bridge = no direct downtown connection = no commuter rail. Therefore, the best that can remain is a tourist-oriented VIA service. What better place to start and end a tourist-oriented service than a refurbished roundhouse/outdoor market/shopping mall?

[Bingo]

Me confused.

I read the comment by Jacques Cadé to mean:
"Bayview condos are more viable now that the rail line will extend no further east than the roundhouse."

I read your comment to mean:
"Bayview condos are more viable now that a rail station will be built at the roundhouse."

If the potential for commuter rail aids the viability of Bayview condos then wouldn't the truncation of the line actually be a bad thing for Bayview condos?

If the rail line doesn't go over the bridge you might as well stop it at the dockyard and put the station at the new level crossing at Admirals Road. Then all the unused right of way could be sold to to developers, and there would be no need to spend millions to upgrade the rail bed.

[Jacques Cadé]

Today's TC:
http://www.timescolo...5845/story.html

... For Mariash, who recently bought out his American partners to give him complete control over the Bayview and Roundhouse projects, Bosa's involvement does more than get construction started on the site again.

It allows him to focus on the remediation of the Roundhouse — still an estimated three years away from being complete — and prepare the 4.25-hectare former Canadian Pacific Railway site for the development of shops, pubs, restaurants, offices, a hotel, residences, community space and a rail-line maintenance facility.

[spanky123]

Bayview has been a money pit for Mariash. He has been trying to sell / JV of the extra lots for at least a year now.

I haven't seen too many successful examples of a developer coming into Victoria claiming that they do everything themselves but will throw a few scraps to local companies if they can. Usually they find out when they get here that access to certain materials and services they need to complete their development are much more tightly controlled then they thought and the "non-resident" premium is exceptionally high.

[2F2R]

I heard Mrs. Gorsky say those buildings are about as likely to go up as the kid next door is to walk on Mars …

[Mike K.]

Who is Mrs. Gorsky?

I would say that Bayview has a much greater chance of being completed now that Bosa is involved. Bosa has extremely deep pockets and the company's core business is building highrise condos in Vancouver and San Diego. If anyone has the ability to pull this off, it's Bosa.

The company even managed to build several highrise towers in White Rock, the most anti-development, anti-highrise area of metro Vancouver. When I lived in White Rock in 2005 the mood of residents towards the tower plans and the developer was no different than it has traditionally been in Victoria.

Several years later and the towers are standing atop White Rock's highest point overlooking the East and West Beach areas.

[baconnbits]

Who is Mrs. Gorsky?

I would say that Bayview has a much greater chance of being completed now that Bosa is involved. Bosa has extremely deep pockets and the company's core business is building highrise condos in Vancouver and San Diego. If anyone has the ability to pull this off, it's Bosa.

Bosa Properties doesn't build anything in san diego. that's bosa developments a different brother of the bosa family.

[aastra]

The site will get developed eventually, one way or another, by somebody. I bet a donut.

[Phil McAvity]

^Yes it will. Here's further proof:

Bayview adds new partner for Songhees condo towers

Vancouver's Bosa aboard with smaller units planned

By ANDREW A. DUFFY, Timescolonist.com

Cranes will be hovering above Songhees this fall as the Bayview development kicks back into gear after bringing in a new partner for the next two phases of the $1-billion development.

Vancouver-based Bosa Properties has partnered with Bayview to take on the development of the second — and possibly third — condominium tower.

"We felt we needed some help with the long-term build out and we were extremely impressed with the Bosa family group, their construction expertise, marketing and sales expertise and especially their ability to deal with the demographics and marketing," said Ken Mariash, Bayview's managing partner.

Terms of the partnership have not been released, other than that Bosa has agreed to develop the second tower on the 8.09-hectare site and has an option for the third tower.

[Read more] http://www.timescolo...l#ixzz1GpOXZKst

[Article edited by admin]

Of course it wouldn't be the Times-Colonist without a mistake and this time it was describing the Sovereign in Burnaby as 34 stories when it's actually going to be 45 stories.

[Mike K.]

Phil, please refer to the article posting guidelines.

[Koru]

Bosa Properties doesn't build anything in san diego. that's bosa developments a different brother of the bosa family.

Bosa Developments which builds in San Diego is the Patriarch to the whole BOSA Family. Bosa Properties builds soley on the lower mainland while other arms of the family own company build in Calgary, San Diego, San Fran.