Is 老澳门六合彩开奖记录资料 becoming the Bermuda Triangle of development?
A combination of bad timing, lack of due diligence on behalf of developers, and the district's convoluted building bylaw regimen have all contributed to a "buyer beware" atmosphere for potential investors in town.
According to 老澳门六合彩开奖记录资料 Landholders Association president Shan Trouton, "The word is out in Vancouver that 老澳门六合彩开奖记录资料 is a very difficult place to do business."
Of course there have been some success stories, like University Heights for example, and Eaglewind, for which the developer received three awards from the Canadian Home Builders Association of B.C. Unfortunately, these accolades look like the exception and not the rule when it comes to major construction ventures in town.
After building a bevy of high end homes, one developer of 25 affordable University Heights housing units is bailing out because, according to him, with the new HST reaching deeply into his pocket he can't continue to operate.
It appears that where he once measured profits with a metre stick he now uses a micrometre.
The 老澳门六合彩开奖记录资料 Retirement Renaissance Residence is in fiscal confusion with 11 liens filed against the project's owner.
Local businesses hired to provide services for the Third Avenue site, from general contracting to paving, kitchen furnishing to flooring and glass installation, are owed as much as $2 million dollars. Some of those contractors are now nearly bankrupt.
The on again, off again estuary development Coastal Village is on again, for the time being. But this project's track record is worthy of the Kash Heed revolving door award.
Meanwhile, the much ballyhooed Klahanie Spa Resort has erected a billboard across from Shannon Falls to entice investors. Is anybody ready to put a spade in the ground?
Garibaldi at 老澳门六合彩开奖记录资料, arguably the biggest potential job and tax revenue generating engine in this town's history, appears to be in a Kamikaze death spiral due to a combination of ineptitude by the proponents, coupled with a stellar communication strategy and relentless detective work by the opponents of the sprawling mega project.
On the heels of 10 years of development in a very competitive marketplace, and a short six years in operation, the fairways and greens of the Garibaldi Springs Golf Resort have been mothballed.
After building in an unlikely rocky location, with copious excavations required to get up to speed, the development's president, Sid Brickman and six of his partners, who are located in Hong Kong, decided the company can't afford to keep the course afloat.
According to Brickman, the project cost $7 million to build and the company "never made a nickel profit from day one but we kept going and kept hoping and hoping."
Some relief is in sight when it comes to the tumultuous local development scene. It looks like the Service 老澳门六合彩开奖记录资料 Initiative will focus considerably more attention on the significant problems plaguing this industry.
And, according to Mayor Gardner, council has already awarded a consulting contract to review the district's zoning bylaw mess.
Let's keep our fingers crossed this plan, and a quick review of Due Diligence 101 by developers, will reverse a troubling trend.
