Saturday, March 29, 2008
Yesterday, when I was writing about the possible worth of the Pacific Spirit Condo-Lands, I used Miro Cernetig's old numbers of ~$200 million. Then I doubled that again as far as estimate of what the profits for the Developer's Bund might turn out to be.
Well, what with late breaking of 'L'Affaire de Lesser' and all, I didn't actually read Mr. Cernetig's column from yesterday until today.
And it turns out he's revised his numbers.
.....In another massive public land deal, the public discovered the provincial government was handing over a big chunk of Pacific Spirit Park and the University of B.C. Golf Course to the Musqueam First Nation. There was no real public consultation, no details of who might be developing the lands or how much those lands would be worth once they are rezoned. A good bet is the land will soar in value by more than $1 billion and the real-estate development will be worth many times more.
Please read that last, bolded sentence above one more time.....
Now, ask yourself if it is even conceivable that the lush, green 'turf outfit that turned the previously unthinkable selling off of the park's heart into a compromise 'lock' was ever for real.
Actually read Mr. Cernetig's column on his VSun Blog, which is almost, but not quite, as good as Absolutely FABula's.
PacSpiritParkPhotoCredit: Bucky Hermit (by way of Stephen Rees)....Do we really want to lose that beauty and tranquility forever?
Posted by RossK at Saturday, March 29, 2008