The Westcorp hotel....

[Catri]

Originally it was supposed to be a hotel, but they've split it so that it's actually more condo floors than hotel floors. More lucrative to the developer that way. I think many of us have doubted Westcorp's commitment to building this project out long before the tax was announced. They were supposed to have shovels in the ground in 2016 originally.

[WalterWhite]

The Westcorp thread:

viewtopic.php?f=23&t=77071

[MaryLou13]

I'm glad Westcorp is delayed. I raise my cup of organic grape juice in celebration. I'm so glad about the speculation task. This city council and Mayor Basran continue to tell us what we want, just like the former council. We don't need highrises like Westcorp. It's not what we signed up for when we started paying taxes in Kelowna back in the 1940's. We don't want to become the "Vancouver model" - Google it. Some tourist towns have rules - buildings no higher than a palm tree. The city planning has become a free for all, anything goes. More people, more high rises only result in more demands on our natural resources. More building grants resulting in floods and landslides and dirty water.

People of the Okanagan be heard. The sewage here is draining into Okanagan Lake, not draining into an ocean. Some of our tap water comes from that lake. Yes, water is chemically filtered, but it's not pure. People speak up and say what we want because we can't be all things to all people. We can't be a city of highrises and a land of agriculture and quaint city vibe - in the end we're none of the above. And move the homeless people from downtown, send them home with bus tickets like in the old days. They are having a nonstop social gathering and party for years at the expense of small businesses around there. We don't need to babysit them in the midst of downtown. Kindness, yes, for the small businesses. This preference for the homeless is being mean to taxpayers.

[GordonH]

If that is what you want then you can say goodbye to more of the farm land in the area to urban sprawl.
If this city does not grow upward it will continue to grow outward.

[lesliepaul]

Time to change this carpet bagging paradigm and take our province back.

Let them drink oil...

[/quote]

..............as people in B.C. "take the gas pipe" from unaffordability to live.

[Jflem1983]

If that is what you want then you can say goodbye to more of the farm land in the area to urban sprawl.
If this city does not grow upward it will continue to grow outward.

Pretty sure as it grows higher it looses all its appeal. Keep in mind people sorta move here to get out of the city.

[Terris]

If that is what you want then you can say goodbye to more of the farm land in the area to urban sprawl.
If this city does not grow upward it will continue to grow outward.

That was the whole point of the ALR in the first place.

The powers that were, at that time (Socreds), took as much advantage of the loopholes as they could to remove as much farmland as they could for as much profit as they could make in order to create a clever money machine.

This new wave of "developers" are paying premium prices for their city bred notions and are throwing a lot of money around to get what they want. This includes flim flamming city hall and bamboozling the residents who have to pay the increased housing costs and infrastructure taxes that are not merely incidental offshoots from all this "development".

We've had almost 2 decades of promises from Westcorp with virtually nothing to show for all their bluster.

Looks like the Mayor's favorite erection is needing Viagra (TM)

[GordonH]

If that is what you want then you can say goodbye to more of the farm land in the area to urban sprawl.
If this city does not grow upward it will continue to grow outward.

Pretty sure as it grows higher it looses all its appeal. Keep in mind people sorta move here to get out of the city.

It's appeal will & is lost by the urban sprawl.

[Urban Cowboy]

Can someone tell me if the Westcorp high rise is a hotel or condo..What does spec tax have to do with the hotel business? Castanet states hotel delayed but then in article it's talking about condos.

It is to be a blend of both.

Don't they also have retail on the street level too?

I believe so yes.

[Urban Cowboy]

Originally it was supposed to be a hotel, but they've split it so that it's actually more condo floors than hotel floors. More lucrative to the developer that way. I think many of us have doubted Westcorp's commitment to building this project out long before the tax was announced. They were supposed to have shovels in the ground in 2016 originally.

Well unfortunately until such time as this tax is sufficiently addressed to where the business community knows exactly where it stands, projects such as this, and others, you can bet there will be others, will be scaled back, or even put on hold depending on how the projects money people feel, and right now all they have on their horizon is the unknown, which makes for very uneasy money people.

It's actually quite ridiculous that we are already suffering from a tax that hasn't even been implemented, and that solely due to NDP party ineptitude. By the time they get this sorted out, it could well cost BC billions in lost investment and revenue, as well as jobs.

[dle]

https://www.castanet.net/news/Kelowna/2 ... ax-fallout

"And, we know the long-term impact, at least for now, is the fact our community was looking forward to having another high-end hotel in our community that would attract people from right across North America and the world, spending dollars in local businesses, potentially falling in love with this city, then eventually becoming part-time, then full-time residents."

Uh-uh.....it is NOT A FACT that all "our community" wants this type of build at all - and certainly not that behemoth, and certainly not where it is to be located. Better recheck your facts Mayor and stop lumping those of us who don't want it in with those who do. This tax did some of us a big favour if it put the kibosh on B's B.

I'm happy , and here's to all of us of like mind, that this tax has caused a delay. I hope it causes more delays of this type of build.

Up, in some areas of Kelowna = good thing. 30+ stories up, in any area = bad thing. If we wanted to live in the sky in Vancouver we would move there.

Right now, Ella is being built on Ellis/Lawrence. I am ok with Ella - I still think it's a bit too tall but all in all I'm ok with it. I work downtown....construction of these types of buildings is a HUGE HEADACHE and I mean literally. Our building has been shaking pretty near non-stop for days and the incessant pounding is upping the stock price of Ibuprofen big time! And we are a couple blocks away! Can't imagine how those people in the same block and across the streets are making out. Just think - once the Mayor has half of Kelowna heading for the skies all at the same time it'll be a wonder if we don't have an earthquake!

[dle]

Originally it was supposed to be a hotel, but they've split it so that it's actually more condo floors than hotel floors. More lucrative to the developer that way. I think many of us have doubted Westcorp's commitment to building this project out long before the tax was announced. They were supposed to have shovels in the ground in 2016 originally.

Yeah, and we can look forward to more empty luxury condo suites because, well I guess we need more empty luxury condos around here!

Westcorp is known for it's hurry up and do nothing style of construction (in this case thank goodness).....I remind everyone of the folks who were kicked out of Hiawatha - how many years ago was that now? Haven't they done wonders with the place? A true show-stopper......

One thing about it, if we hear that Westcorp is going to be the developer, those of us who aren't in favour can all rest easy - nothing will happen! They are all hat and no cattle if history tells us anything!

[Even Steven]

Pretty sure as it grows higher it looses all its appeal.

Yes, perhaps for old grumpy people who like to remember how things used to be and everything cost a nickel.

Sorry, grandpa. It's 2018. Move over for younger folks who don't need a rancher house, acres of land, and the sense of serenity mixed with horse manure. They're happy to live in concrete boxes, have less responsibilities that come with huge house/land ownership, and focus on living life, not trimming bushes every day.

[Jflem1983]

Pretty sure as it grows higher it looses all its appeal.

Yes, perhaps for old grumpy people who like to remember how things used to be and everything cost a nickel.

Sorry, grandpa. It's 2018. Move over for younger folks who don't need a rancher house, acres of land, and the sense of serenity mixed with horse manure. They're happy to live in concrete boxes, have less responsibilities that come with huge house/land ownership, and focus on living life, not trimming bushes every day.

Im 34

[W105]

well Westcorp wasn't building these condos for locals to live in...they were targeting out of province buyers, whom most likely would leave them empty, hence why they are so scared of the new Spec Tax..

now I can't imagine how Westcorp is feeling about this new nugget from our government..

B.C.'s condo-flipping crackdown law targets tax evasion to keep down prices

https://www.bnn.ca/b-c-s-condo-flipping ... -1.1066516

Finance Minister Carole James said legislation introduced Tuesday would require developers to collect and report buyer information on the purchase and sale of condos before they are built to ensure the proper amount of tax is paid.

The prices of so-called presale condominiums are inflated by people who buy and sell the properties without ever living in them or paying capital gains tax, she said.

"This is a key step to stopping people from using presale condos as a quick, lucrative investment," James said. "It's also to stop them from driving prices up for British Columbians trying to get into the housing market."

She said the government will share the presale data it collects with the Canada Revenue Agency to monitor taxes.