What do you think of this project?

  • Total voters
    31
Isn't half the point of this website to ruminate on hearsay?
 
There will always be some bad news mixed with the good news. Those who are complaining need to smarten-up.
 
This project was contingent on getting a deal finalized with the owner of the Army & Navy building (and anyone in the real estate game in this town knows they aren't the easiest of owners to deal with). Ultimately there was a price in their mind that they (Edgar) couldn't justify given today's risks and realities (rising rates, increased costs, etc).
 
I bet it is extremely frustrating for everyone involved, can't you guys put a little more effort into finding a solution?
 
Clearshades said:
Kind of weird to propose projects on something one has not procured.
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Depends on how the deal is set up. It's not unusual to have a sale tied to rezoning or planning approvals. If the purchaser through their due diligence period can't make the project work they can back out (if the purchase contract allows for such provisions). At the end of the day the numbers have to make sense. And even if you've spent money along the way (which you do), it's sometimes just the cost of doing business.
 
cmd uw said:
This project was contingent on getting a deal finalized with the owner of the Army & Navy building (and anyone in the real estate game in this town knows they aren't the easiest of owners to deal with). Ultimately there was a price in their mind that they (Edgar) couldn't justify given today's risks and realities (rising rates, increased costs, etc).
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Oh, that maybe explains it. Aren't they Vancouver based? If so, they may not be thinking prices in the same universe as us.
 
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