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Downtown Vancouver is getting a new $450-million casino and hotel complex to anchor its new "entertainment epicentre," B.C. Premier Gordon Campbell confirmed.
 
Campbell made the announcement with David Podmore, the chair of the B.C. Pavilion Corporation, at a news conference at the proposed site for the complex — a parking lot between BC Place and the end of the Cambie Street Bridge.
 
The casino, which will be similar in size to the River Rock in Richmond, will also include two major hotels, five restaurants, and more than 100,000 square feet of gambling facilities, said Campbell, who called the project a catalyst for development of the area.
 
The new facility will be run by Las Vegas-based Paragon Gaming, replacing the company's Edgewater Casino in the old B.C. Expo 86 pavilion across the street from the new site.
 

That location has had troubles with poor access and parking, but the new location is expected to be more easily accessible to the public.


Pending the approval of a re-zoning application by the City of Vancouver, construction is expected to begin in early 2011 and wrap up by 2013.
 
 
Next door, work is under way on the installation of a new retractable roof on BC Place stadium. That $460-million project is expected to be completed by the summer of 2011.
 
 
The new casino complex is expected to generate about 3,200 direct jobs during construction, and up to $130 million a year in revenues for the province once it is completed, said Campbell.

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The financially troubled Olympic Village in Vancouver has been put into receivership.
 
The City of Vancouver announced that it has negotiated an agreement with the accounting firm Ernst and Young to assume control of the Millennium Southeast False Creek Properties and the Millennium Water development, as the Olympic Village condominium project is now called.
 
Following the 2010 Winter Games, units in the eight-block, 25-building village were to be turned into a combination of free-market condos and social housing.
 
But sales never really picked up and in September, Millennium came up short on its loan payment and then said it didn't expect to finish selling the more than 400 remaining units for another 2½ years.
 
Even before the Games, the developer's original lender stopped paying its loan, forcing the city to step in and secure hundreds of millions of dollars to finish the project in time.
 
Millennium is scheduled to come up with another $75 million by January, but it is not clear now whether that payment must be made in light of Wednesday's announcement.
 
 
Price Reduction are Coming!
 
Condo marketer Bob Rennie announced that he is about to receive approval from Ernst & Young to reduce condo prices across the board in the Olympic Village complex in southeast False Creek.
 
Although he did not speak to any specific numbers, Rennie called the pending reductions ‘significant' . He spoke about a very delicate positioning of the new Olympic Village marketing plan quoting a ‘do it right or die' approach is the one they'll be taking.
 
Rennie hinted that a possible relaunch price could be around $1,000 per square foot for the high-end units and that he expects to move 100 units by June next year. The target date for the newly priced marketing relaunch is Feb 12, 2011, the one year anniversary of the 2010 games.

My feeling is that while $1,000 per square foot will be achievable, those sales will be limited to the best of the best only – waterfront suites. Look for a huge price differential between the waterfront suites and those further back in the compound towards the Wall Center at False Creek development site.

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Property Photo: 1405 740 HAMILTON ST in New Westminster
We have sold a property at 1405 740 HAMILTON ST in New Westminster.
Rare find in this well managed building, beautiful view of the Fraser River & the Moody Park, in the quiet side of the building. Laminated flooring in the living, dining room. Easy to show.
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Property Photo: 2303 3755 BARTLETT CRT in Burnaby
We have sold a property at 2303 3755 BARTLETT CRT in Burnaby.
270 degree view from this corner unit with wrap around balcony, S/S appliances and hardwood floor, fee includes hydro, heat and hot water. Well priced.
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We have sold a property at 48 777 Burrard ST in Vancouver.
A truly exceptional 635sf, high ceilinged, blank, clean palette in one of the most beautiful and well-preserved historic buildings downtown. "777 Burrard" was built in 1914, and there's brick and beams and original flooring to be reclaimed here in this quiet 1bdrm end unit if you desire. Move a wall or two, open things up if you like.... Add your own charm and style to the amazing character here, or snap this up as a unique and promising investment. Very desirable building and location, with a truly historic cosmopolitan flair. Rare to find one of these without a recent reno! Rentals ok, pets ok w/ restrictions. Open Houses Sat/Sun Dec 5/6 from 2-4pm. See realtors website for floorplan.
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We have sold a property at 117 15152 62A AVE in Surrey.
Welcome to the Uplands at Panorama Place! This beautiful 3 bdrm townhouse has it all, including a soaker tub in the ensuite, 9' ceiling & powder room on the main. Bright modern kitchen features s/s appliances & a gas stove. Hug living area perfect for entertaining. Rainscreen technology, built by Polygon with 'The Panorama Club' resort style amenities at your doorstep, billiards, gym, outdoor pool & hot tub, guest suite, theatre room, playground & outdoor BBQ area. Enjoy unobstructed views of the Northshore mountains and valley!
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Property Photo: 2302 244 SHERBROOKE ST in New_Westminster
We have sold a property at 2302 244 SHERBROOKE ST in New_Westminster.
2 bedrooms and den facing the courtyard. Great floor plan and excellent location. Tenanted for $1300 per month until Aug 2009. Tenant willing to stay. Great value.
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Property Photo: 9362 162A ST in Surrey
We have sold a property at 9362 162A ST in Surrey.
TYNEHEAD with a view of MOUNT BAKER. 10,193 SF lot, this home features totally renovated 5 bedrooms and 4 baths including an unauthorized 1,200 SF suite below rented to a long time tenant. Oversized double garage, newer maple kitchen,appliances, hood fan, tile back splash, real hardwood floors, vaulted ceilings in living/dining room, sunken living room and family room. Large fenced backyard with solid cement tiered sundeck and patio. Located in a very quiet area but close to all routes and schools.
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We have sold a property at 4126 Gilpin CRES in Burnaby.
Private paradise, very nicely renovated with new kitchen S/S appliances, new drain tiles, new furnace with 96% efficiency, paving stone yard and covered deck, wood fireplace insert on the main floor and gas fireplace in the basement, new windows all around the house and the list goes on, Walk to the Inman Elementary and Moscrop High School. Open House Sat & Sun, May 15th & 16th, 2-4 pm.
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Property Photo: 102 5577 SMITH AVE in Burnaby
We have sold a property at 102 5577 SMITH AVE in Burnaby.
Spacious ground level one bedroom unit in Cottonwood Grove complex. Enjoy the sun in your south facing patio. Open plan living & dining area, full size fridge & stove in kitchen, washer/dryer, air conditioner, security alarm system and manymore features. Very well maintained strata with two parking and storage locker specific for this unit. Centrally located in Central Park neighbourhood. Minutes walk to skytrain, schools (Inman Elementary & Moscrop High School), Metrotown shopping mall, and Central Park.
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