[Harvey Specter]

http://a323.yahoofs.com/ymg/ept_sports_oly_experts__11/ept_sports_oly_experts-343594669-1267733245.jpg?ym9baxCDkc2rrUbG

One week ago, 2,760 athletes lived in the new, $1.1 billion condominium complex on the banks of Vancouver's False Creek. Today the 1,100 residences in the athlete's village -- what will happen to them now that the Winter Games are over?

First, the buildings aren't yet done hosting Olympic athletes. The Paralympic Games begin next Friday in Vancouver and the athlete's village will host the smaller contingent of participants during the 10 days of competition.

Once that ends, the Vancouver Olympic Committee will hand the complex over to the city government, which will then turn the condos into luxury apartments available to the public. The restaurants, shops, community centers and medical buildings will be converted into restaurants, fitness centers and commercial space. By 2020, the goal is to have more than 10,000 people living in the False Creek area.

That may be a lofty goal though. The depressed real estate market has marred the village project since its inception and threatens to hinder plans for the future. It was built on city-owned land by a developer who was supposed to privately finance the venture and then convert it to luxury condos after the Games, paying the city for the property. But then the credit crisis hit -- Vancouver was particularly vulnerable -- and the city had to provide a $434 million bailout to the developers. In all, Vancouver spent about $1 billion in costs on the athlete's village.

Since the government became so invested in the project, some are using the opportunity to pressure officials to turn the village into mix-market rate and subsidized housing. There had been plans to offer at least 250 affordable housing units following the Games.

VANOC will turn over the property to the city of Vancouver on April 7.

http://sports.yahoo.com/olympics/vancouver/blog/fourth_place_medal/post/After-the-Olympics-what-happens-to-Vancouver-s-?urn=oly,225893

[gnat.]

Wow! That will be a nice place to live at!
Wonder what the starting price will be...!
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[Tim Budong]

Wow! That will be a nice place to live at!
Wonder what the starting price will be...!
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

buy apartment, tainted by love stains
hahahaha

[AVS_Racing]

i wonder if those apartments are fully furnished too?

[Chicken Balls]

I would be hesitant about the build quality on this...

[skyxx]

They'll earn it back. That property isn't even cheap. :)

[The Situation]

Do you really want to buy a place with "love stains" from not only the athletes, but the paralympic athletes too?? :haha::haha::haha:

[gnat.]

As long as you can rent it out...I'm sure love stains will be fine!;) :haha:
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[!SG]

do it like csi, and and look for semen!

*cue csi music!*

[Ronin]

This is where they went through 100,000 condoms in two weeks.

That paint on the walls? IT'S NOT ALL PAINT.

[E-40six]

If they turn some of that into social housing, there are going to be a lot more of people applying for low income social housing cause then they can live in false creek

[Presto]

I would be hesitant about the build quality on this...

There was another post in another thread that mentioned the shoddy, splash-and-dash workmanship of that whole project.

I say make the whole area low-income. Once all the crack-whores, bums and panhandlers are in residence, then wall the whole thing off. As bedlam ensues, they can put cameras everywhere, and broadcast government-organized bum fights.

[murd0c]

So you guys are saying you would only buy a new house because people have fucked in a used one?
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[murd0c]

Think of it this way at least is was a bunch of hot in shape people going at it rather then some 400 lber that needs help through to doors!!
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[Greenstoner]

most of your gf has stained vagina from the past anyways... i dont see the big deal of owning stain apartment

[RollingStone]

I'd consider buying a condo there. Its a good up-and-coming location. As for the build-quality, it can't be any worse than most other condo's. This is not Yaletown.

Another plus is that this project is LEED certified which means that a lot of work has been put into it to make it as sustainable as possible (which also means lower utility costs).

[hung_low]

most of your gf has stained vagina from the past anyways... i dont see the big deal of owning stain apartment

well unless you pay $700+ / sqft for pussy and share it with other people

i guess your analogy works

[CRS]

Since the government became so invested in the project, some are using the opportunity to pressure officials to turn the village into mix-market rate and subsidized housing. There had been plans to offer at least 250 affordable housing units following the Games.

Fuck......That.....Shit.....

[Death2Theft]

Lets see what good your LEED certification does when your pipes start to burst ( they already are molding before completion) and things start to fall apart.
I'd consider buying a condo there. Its a good up-and-coming location. As for the build-quality, it can't be any worse than most other condo's. This is not Yaletown.

Another plus is that this project is LEED certified which means that a lot of work has been put into it to make it as sustainable as possible (which also means lower utility costs).

[Great68]

So will they selling these as used or new? Like, will they still have the new home warranty, and will you have to pay tax on them?

Oh yeah, sometimes the LEED thing isn't what it's cracked up to be. I worked on Dockside Green in Victoria, the FIRST LEED platinum community in BC (Designed all the energy metering and suite HVAC controls) and I sure as hell wouldn't want to actually live there.

The people that live there are a bunch of kooky granola eating yuphippie type, you know what I mean...

[Volvoman]

250 affordable housing homes? fuck, how would you feel if you just paid full price but the asshole next door paid a fracion of that for the same place because he is low income?

[Tapioca]

The dorm-style, sparsely furnished condos should go to social housing because they would be tough to sell at market rates.

In terms of build quality, I wouldn't be surprised if it was poor. The developer was Millennium and the lead contractor was Metro-Can Construction. I live in a building which was built by the same team and although I like my place, the finish of the apartment complex was mediocre, at best.

[EmOne]

The dorm-style, sparsely furnished condos should go to social housing because they would be tough to sell at market rates.

In terms of build quality, I wouldn't be surprised if it was poor. The developer was Millennium and the lead contractor was Metro-Can Construction. I live in a building which was built by the same team and although I like my place, the finish of the apartment complex was mediocre, at best.


yes, the 1 building that i know is bought by the COV, its right by the old sugar shack(now renewed) with the tacky orange cladding outside.
Like i said before, people are paying for a shitty less than 700sqft condo, while the suckers across the street from them are getting help from the gvot and living in a 1000+sqft suite with 3 bedrooms and 2 full baths. LOL

Metro-Cant had about i think 3 buildings there, while other ones were built by ITC, and PCL.

Which complex you live in if you dont mind me asking.

[GLOW]

i dont care how much pressure they receive, i think the loss is so great there's no way they can turn any of those buildings in to low income housing.

[bengy]

All the new condo buildings downtown are built by crackheads and overall dumb useless fucks. Definitely not worth the asking price.

[q0192837465]

Millennium still owns us a lot of money and refuses to pay. Fuk them

[nack]

http://www.millenniumwater.com/

i got some brochure thing saying it would start at 499,000


=I

[Graeme S]

The biggest problem is how to implement social housing. The easiest way to get more social housing is by injecting some into new developments. The only problem? New developments are generally built in expensive (ie: profitable) places.

It seems to be another NIMBY-esque thing; if you guys don't believe that we should put social housing in there, where and how should we put it?

[E-40six]

The biggest problem is how to implement social housing. The easiest way to get more social housing is by injecting some into new developments. The only problem? New developments are generally built in expensive (ie: profitable) places.

It seems to be another NIMBY-esque thing; if you guys don't believe that we should put social housing in there, where and how should we put it?


Chilliwack? :D

[Ronin]

LOL social housing at False Creek? Will never happen. They're going to want to put that shit out in the middle of nowhere. Welfare cases shouldn't get prime time placement.

Do you see fucking projects going up in Manhattan?

[Volvo-brickster]

If they turn some of that into social housing, there are going to be a lot more of people applying for low income social housing cause then they can live in false creek

I work with a lady who makes $63K. She is married and her husband works as well. They have 1 kid.

They are in social housing living by false creek.

I'm like wtf? GTFO.

You make enough money, why the hell do you get a housing break, living in a prime area like false creek ?:confused:

[Great68]

LOL social housing at False Creek? Will never happen. They're going to want to put that shit out in the middle of nowhere. Welfare cases shouldn't get prime time placement.

Do you see fucking projects going up in Manhattan?


All those townhouses under the Cambie St. Bridge are social housing...

[Presto]

I work with a lady who makes $63K. She is married and her husband works as well. They have 1 kid.

They are in social housing living by false creek.

I'm like wtf? GTFO.

You make enough money, why the hell do you get a housing break, living in a prime area like false creek ?:confused:

I've heard of similar scenarios where people that can, clearly, afford living downtown, but for some reason they have the privilege of living in social housing for rent that might as well be free. I'm not sure what percentage of social housing is occupied by these douchebags, but a crackdown, or something, has to happen.

[AVS_Racing]

^^^^ hm.... interesting i might have to lookin to this lol

[MelonBoy]

you'd think they would use the altheletes as a selling point?
Be like o shit btw blank and blank who won gold lived here during the olympics... =/

[shenmecar]

^^^^ hm.... interesting i might have to lookin to this lol

So you can crack down on those douchebags or to be apart of the social housing? :rolleyes:

you'd think they would use the altheletes as a selling point?
Be like o shit btw blank and blank who won gold lived here during the olympics... =/

really, thats not a strong sale point

[godwin]

You know living in those places are not as easy or nice as you think.

The social housing would mix in "normal people" with people who are "at risk" So on the same floor you will likely to be living next to people who have substance abuse issues etc. The point is giving the people who are trying to get back on their feet, targets/ role models to aim for.. or we will have another DTES.

If people complain cars being broken in in normal apartment buildings etc.. can you imagine garages in these places?

I've heard of similar scenarios where people that can, clearly, afford living downtown, but for some reason they have the privilege of living in social housing for rent that might as well be free. I'm not sure what percentage of social housing is occupied by these douchebags, but a crackdown, or something, has to happen.

[Tapioca]

If people complain cars being broken in in normal apartment buildings etc.. can you imagine garages in these places?

Speaking from experience, apartment crime is committed by professionals, not by crack addicts looking for their next fix.

I work with a lady who makes $63K. She is married and her husband works as well. They have 1 kid.

They are in social housing living by false creek.

I'm like wtf? GTFO.

You make enough money, why the hell do you get a housing break, living in a prime area like false creek ?

This is not social housing per se - this is co-operative housing. However, I am truly stunned how some people who do make a decent income manage to get on the lists for these things while the rest of us pay market rates.

[Tapioca]

Gary Mason's survey of the Olympic Village and what it will mean for our city councilors:

------------------------------

Gary Mason
From Saturday's Globe and Mail
Published on Friday, Mar. 05, 2010 8:59PM EST
Last updated on Friday, Mar. 05, 2010 9:13PM EST

Olympians in Vancouver for the 2010 Winter Games loved staying in the Athletes' Village. Big surprise.

Their rooms will soon be retrofitted, and, in some cases, sold for millions of dollars. Another Athletes' Village as nice as the one Vancouver built is unlikely in the next 100 years. But as soon as the Paralympics conclude later this month, attention will once again focus on the economics of the development and how much of the nearly $1-billion that Vancouver taxpayers spent to bail out the project they are likely to get back.

One of the more contentious aspects of that discussion is certain to involve the status and future of the 252 units of social housing to which the city had committed itself. It is a promise now likely to be broken.

The final decision will have wide-ranging political implications for the governing Vision Vancouver party and its leader, Mayor Gregor Robertson.

On one side are those who say the social housing is too expensive and would be better built, far cheaper, somewhere else. On the other are those who believe the city has a moral imperative to honour its obligation to make room for the poor in all big real-estate developments.

That group includes Jim Green, the legendary community development consultant. If Vision backs away from the social housing, he warned yesterday, “it will be a complete disaster for the party and the city. This income mix in real-estate developments is key to the future of Vancouver.” Perhaps. But Vision also must weigh the risks of going ahead with a plan that would come at an enormous cost to taxpayers.

The social housing component of the project was supposed to cost about $65-million. It ballooned to $110-million. The worst cost overruns of the Olympic Village construction involved the three parcels of units set aside for social housing. Meantime, estimates show it would cost an additional $55-million to $75-million to subsidize the housing (keeping rents far below market value) over a period of 30 years or so, as originally planned.

It would arguably be the most expensive social housing anywhere in the world.

Complicating the issue is the fact the city could still end up losing $100-million or more from its stake in the project. You may recall that the city had to bail out the developer to the tune of about $900-million after the original lender, Fortress Investment Group, itself decided to bail because of nervousness about overruns.

Now, given the bounce-back in the economy and the positive exposure the Olympic Village received during the Games, there is a much stronger likelihood Millennium Development Corp., will be able to repay all of its building loan. But that still leaves $170-million it owes the city for the land upon which the project is built.

It's entirely possible the city will not get that back. This creates a problem, because it was counting on that money to pay for the $160-million it spent on other infrastructure investments related to the project, such as soil remediation, a civic centre, a plaza and other improvements.

Even if the city were to get half the money back, that still amounts to an $87-million loss, which makes it that much harder to justify spending possibly $180-million for 252 units of social housing.

This is why council will be presented later this month with a range of options. The one being favoured at the moment is for the 252 units to be rented out, at rates slightly under market, possibly for seven to 10 years. At the end of that time, a decision would be made as to what portion to convert to social housing while selling the rest as condos at market value.

The money saved by going this route would be used to build more social housing on another site at a much more cost-effective rate.

Advocates like Mr. Green will not be thrilled with this solution. Mr. Green rejects any plan perceived as concentrating low-income people in one area, creating what he calls “massive ghettos.” I don't think that's what the city has in mind; nonetheless, that is a sentiment it would face if it takes this option.

Whatever happens, it seems certain now that the Olympic Village won't have 252 units of social housing.

Any decision needs to be made soon. The units become available in April and nothing would be worse than having them sit empty – with potential dollars flying out their windows – while council dithers.

This will be the biggest, most controversial decision this Vision government will make, the fallout from which may be felt into the next election.

[Lomac]

LOL social housing at False Creek? Will never happen. They're going to want to put that shit out in the middle of nowhere. Welfare cases shouldn't get prime time placement.

Do you see fucking projects going up in Manhattan?

Even in some of North America's richest postal/zip codes, there are buildings dedicated to social housing. Yes, even in Manhattan.

You guys have to realize that the majority of people that live in low-income housing are your everyday families who, for one reason or another, don't have high paying jobs. For the most part, they aren't crack addicts or thieves. Yes, there might be the odd one, but really... even in more upscale areas you'll find a bunch living there.

And to all you NIMBY's, here's something to consider: I live a short ways away from a proper homeless shelter/housing complex, and I've yet to hear of ANY increase in property crime, auto thefts or any other forms of crime between the time it opened and now.