The Westcorp hotel....

Re: The Westcorp hotel....

Postby Terris » Nov 20th, 2018, 11:19 am

Plainly and simply...

It has been obvious from the start of this process that, Westcorp is seeking to build luxury waterfront condos along City Park and downtown. They have stated as such many times publicly and privately.

When their proposal for their CD-21 properties along Abbott was shot was shot down, they concentrated on the "hotel".

With extreme wealth comes extreme arm twisting; and when you have an ineffectual city council and mayor who are largely small business owners with varying degrees of success and failures, and who are essentially yes-men for the real estate entities already operating here, a large international mega corp like Westcorp knows that the public are fickle, and that time and money will get them what they want.

Westcorp is fully aware of the players here in Kelowna and has crossed swords with some of them. Much of their added "costs" in this community reshaping project are the price for joining the Kelowna real estate Kabal.

Ref. the refbc...

Pretty sweet deal for the scions of former BC provincial Nabobs.

Any organization that has a legislated mandate to scoop other people's real estate deposit funds, and collect interest off that money for their own purposes, presents a clear example of the chicanery that is involved in developing real estate here in BC and especially here in the Okanagan.

Add to that, the refbc was legislated into existence by an outgoing, and later disgraced, premier whose interests have long conflicted with the ALR and that the executive boards of the refbc are largely composed of this former premier's family, friends and associates warrants, in my opinion, an investigation for possible money laundering...

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Re: The Westcorp hotel....

Postby LANDM » Nov 28th, 2018, 10:22 am

Terris wrote:Plainly and simply...

It has been obvious from the start of this process that, Westcorp is seeking to build luxury waterfront condos along City Park and downtown. They have stated as such many times publicly and privately.

When their proposal for their CD-21 properties along Abbott was shot was shot down, they concentrated on the "hotel".

With extreme wealth comes extreme arm twisting; and when you have an ineffectual city council and mayor who are largely small business owners with varying degrees of success and failures, and who are essentially yes-men for the real estate entities already operating here, a large international mega corp like Westcorp knows that the public are fickle, and that time and money will get them what they want.

Westcorp is fully aware of the players here in Kelowna and has crossed swords with some of them. Much of their added "costs" in this community reshaping project are the price for joining the Kelowna real estate Kabal.


"Large international mega Corp"? They are an Alberta developer who also has projects in Kelowna.
As their business is development, they need to build something that results in a profit. Pretty simple.

Terris wrote:
Ref. the refbc...

Pretty sweet deal for the scions of former BC provincial Nabobs.

Any organization that has a legislated mandate to scoop other people's real estate deposit funds, and collect interest off that money for their own purposes, presents a clear example of the chicanery that is involved in developing real estate here in BC and especially here in the Okanagan.

Add to that, the refbc was legislated into existence by an outgoing, and later disgraced, premier whose interests have long conflicted with the ALR and that the executive boards of the refbc are largely composed of this former premier's family, friends and associates warrants, in my opinion, an investigation for possible money laundering...


The Real Estate Foundation doesn’t "scoop other people’s real estate deposit funds". They simply are mandated to be paid the interest (in such cases that the interest is not obligated to go to the deposit holder), that accrues on brokerage pooled trust accounts in B.C.
If the arrangements are such that the interest on a deposit is specified to go to the buyer or seller, it will go to those people. If it is not specified as such, any trust account interest goes to the Foundation. No trust funds are "scooped" or held by the Foundation.

From the RESA,
91 (1) The board of governors of the foundation consists of the following individuals:
(a) one member appointed by the real estate council;
(b) one member appointed by the British Columbia Real Estate Association;
(c) one member appointed by the Real Estate Institute of British Columbia;
(d) one member, not licensed under this Act, appointed by the minister;
(d.1) one or 2 members, appointed in accordance with the regulations, if any;
(e) the minister or another member appointed by the minister.


Each of the seven board members have been appointed since, at the the earliest, 2013 all the way up to 2018.

Which of them are family, friends, associates etc. of Bill Bennett, who was premier at the time the Foundation was created 33 years ago and is deceased? Since you specifically made the allegation, this should be easy to answer.

I’m sure any or all of them would be very interested in your conspiracy theory regarding them laundering money.

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Re: The Westcorp hotel....

Postby home1 » Nov 28th, 2018, 1:00 pm

good points made here
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Re: The Westcorp hotel....

Postby Terris » Dec 2nd, 2018, 2:33 pm

LANDM wrote: "Large international mega Corp"? They are an Alberta developer who also has projects in Kelowna.
As their business is development, they need to build something that results in a profit. Pretty simple.


Yes, by any normal standard, a company worth billion$ and which also builds luxury properties in countries outside of their home province of Alberta, CANADA is an international mega corp...

http://www.westcorpmg.com/
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Re: The Westcorp hotel....

Postby LANDM » Dec 2nd, 2018, 5:09 pm

Terris wrote:
LANDM wrote: "Large international mega Corp"? They are an Alberta developer who also has projects in Kelowna.
As their business is development, they need to build something that results in a profit. Pretty simple.


Yes, by any normal standard, a company worth billion$ and which also builds luxury properties in countries outside of their home province of Alberta, CANADA is an international mega corp...

http://www.westcorpmg.com/

Come on, even you can do better than this!
It’s not the same company and has nothing to do with the Westcorp from Edmonton that is doing the developments here.

I’m sure that googling "Terris" would bring up totally unrelated things too...... [icon_lol2.gif]

So you are 0 for 2 on your rant about Westcorp and about the REFBC.....did you want to keep trying or just leave well enough alone?

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Re: The Westcorp hotel....

Postby OKkayak » Dec 2nd, 2018, 5:22 pm

Terris wrote:Yes, by any normal standard, a company worth billion$ and which also builds luxury properties in countries outside of their home province of Alberta, CANADA is an international mega corp...

http://www.westcorpmg.com/

Ummm, try this one:

https://www.westcorp.net

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