The comedy cavalcade that is Devimco continues, with word that they won't be able to continue the Griffintown project without city money...
Griffintown, un projet immobilier de 1,3 milliard amputé de 70% à cause de difficultés de financement, est toujours sur la table, assure M. Goulet en entrevue. «À 400 millions de dollars, c'est toujours un énorme projet pour Montréal», dit-il. Dans la partie située au sud de la rue Wellington, Devimco veut toujours construire des résidences «milieu de gamme», des bureaux et des commerces de proximité « de plus grande superficie que dans la rue Sainte-Catherine». Le projet, résidentiel à 90%, comprendra des logements sociaux et abordables.
Btw, the "author" of this piece, a one Éric Clément, seems just a little too fond of the project to be totally unbiased...
Just sayin'.
Read more here.
Showing posts with label developers. Show all posts
Showing posts with label developers. Show all posts
Monday, March 02, 2009
Wednesday, February 18, 2009
Griffintown project dealt blow
Devimco spreads the bullshit (yet again), but it seems the Griffintown project will be much smaller.
Ha..ha ha...HAAHAHAHAHAHAHA.
It's ok, I'm back from rolling on the floor.
The pieces of the puzzle that make up the $1.3-billion redevelopment of Griffintown will be smaller and put together differently, but the picture they’ll create will be the same, provided the economy improves, the developer behind the stalled project insisted yesterday.
The public declaration by Devimco Inc. came in response to a fresh rumour that the venture is dead.
“The economic situation is difficult, and despite this we’re announcing we’re going ahead with our project,” Devimco spokesman André Bouthillier, said.
“There aren’t many other developers announcing good news these days.”
It's music to my ears.
Read more here.
Ha..ha ha...HAAHAHAHAHAHAHA.
It's ok, I'm back from rolling on the floor.
The pieces of the puzzle that make up the $1.3-billion redevelopment of Griffintown will be smaller and put together differently, but the picture they’ll create will be the same, provided the economy improves, the developer behind the stalled project insisted yesterday.
The public declaration by Devimco Inc. came in response to a fresh rumour that the venture is dead.
“The economic situation is difficult, and despite this we’re announcing we’re going ahead with our project,” Devimco spokesman André Bouthillier, said.
“There aren’t many other developers announcing good news these days.”
It's music to my ears.
Read more here.
Wednesday, February 04, 2009
Devimco: Let Griffintown go
It must be tough for the greedy officials in the Montreal City Hall, now that visions of delevopment wealth seem to be evaporating before their eyes....
Rumours of Griffintown's demise are exaggerated, Sud Ouest mayor Jacqueline Montpetit told residents at a borough council meeting last night.
"We are in intensive negotiations at this point, and there will be an announcement before long," she said.
Landowners, however, are under the impression the $1.3-billion plan to redevelop 10.2 hectares of a former industrial sector south of the downtown core is dead. And they want the city to lift a freeze on new permits to develop in areas slated to be expropriated as part of the project.
A group of landowners, called Association Immobilière Griffinoise, came to last night's meeting hoping to get answers about the fate of the project, which was announced with much fanfare by the city last year.
"I have been told several times by Devimco that they have no money and no plans to develop anymore," said Harvey Lev, who owns about two hectares of office space in the area, some of which is slated to be bought by Devimco. "But because of this project that no longer exists, the city has refused to issue any permits for businesses who want to rent from me, so I have lost about half of my tenants."
Read more here.
Rumours of Griffintown's demise are exaggerated, Sud Ouest mayor Jacqueline Montpetit told residents at a borough council meeting last night.
"We are in intensive negotiations at this point, and there will be an announcement before long," she said.
Landowners, however, are under the impression the $1.3-billion plan to redevelop 10.2 hectares of a former industrial sector south of the downtown core is dead. And they want the city to lift a freeze on new permits to develop in areas slated to be expropriated as part of the project.
A group of landowners, called Association Immobilière Griffinoise, came to last night's meeting hoping to get answers about the fate of the project, which was announced with much fanfare by the city last year.
"I have been told several times by Devimco that they have no money and no plans to develop anymore," said Harvey Lev, who owns about two hectares of office space in the area, some of which is slated to be bought by Devimco. "But because of this project that no longer exists, the city has refused to issue any permits for businesses who want to rent from me, so I have lost about half of my tenants."
Read more here.
Tuesday, January 22, 2008
Developers out of control
It's not only Toronto where developers are blowing away neighbourhoods to build questionable projects, my good friends (Chris Gobeil and Judith Bauer) in Montreal are experiencing it first hand. First they had one place:
Bauer: We had a 4,500-square-foot loft on Dowd St., just around the corner from St. Patrick's Basilica. It was huge, palatial.
Gobeil: But the place was bought by developers. They gave us the boot pretty quick...
So they bought an old house in Griffintown, Montreal...
We take a tour of the living quarters, which are spread across three upstairs apartments. The rooms are delightfully stocked with kitsch and collectibles, vivid paintings and charming antiques. The third-floor bedroom features slanting ceilings, exposed cedar beams and skylights that can be opened during the hot days of summer. We stop to talk in the main-floor conference room of Gobeil's accounting firm.
but...
Now what about this planned redevelopment of Griffintown? Did that come as a surprise?
Bauer: We always knew it would be developed. But we imagined that they would develop around us, and 20 years from now we'd be here with our nice walled garden. The idea that someone would come in and do such a big area all at once never occurred to us.
It looks like they plan to build a lot of clone high-rises, just like they did up the street.
Gobeil: Terraces Windsor. It's going to look a lot like that.
Very generic, no regard whatsoever for the history of the area. Whole streets may be erased by the looks of their plans.
Gobeil: It's too bad. There is history down here. So when we saw the developers recently, a guy with the company doing the consultations said to me, "Oh, we didn't think anybody lived on Ottawa Street!" I said, "Well, I live there. My neighbour lives there."
But they say it will be private development, and private companies can't expropriate, so what's going on?
Gobeil: Who knows? My notary tells me that's terra incognita. So until we get more details and the project gets approval, I don't think we're going to know.
Bauer: We had a 4,500-square-foot loft on Dowd St., just around the corner from St. Patrick's Basilica. It was huge, palatial.
Gobeil: But the place was bought by developers. They gave us the boot pretty quick...
So they bought an old house in Griffintown, Montreal...
We take a tour of the living quarters, which are spread across three upstairs apartments. The rooms are delightfully stocked with kitsch and collectibles, vivid paintings and charming antiques. The third-floor bedroom features slanting ceilings, exposed cedar beams and skylights that can be opened during the hot days of summer. We stop to talk in the main-floor conference room of Gobeil's accounting firm.
but...
Now what about this planned redevelopment of Griffintown? Did that come as a surprise?
Bauer: We always knew it would be developed. But we imagined that they would develop around us, and 20 years from now we'd be here with our nice walled garden. The idea that someone would come in and do such a big area all at once never occurred to us.
It looks like they plan to build a lot of clone high-rises, just like they did up the street.
Gobeil: Terraces Windsor. It's going to look a lot like that.
Very generic, no regard whatsoever for the history of the area. Whole streets may be erased by the looks of their plans.
Gobeil: It's too bad. There is history down here. So when we saw the developers recently, a guy with the company doing the consultations said to me, "Oh, we didn't think anybody lived on Ottawa Street!" I said, "Well, I live there. My neighbour lives there."
But they say it will be private development, and private companies can't expropriate, so what's going on?
Gobeil: Who knows? My notary tells me that's terra incognita. So until we get more details and the project gets approval, I don't think we're going to know.
Subscribe to:
Posts (Atom)
