SilkWind tower revival eyed for 2010
Colwood officials say the SilkWind developers are showing renewed interest in building the idling condominium tower project.
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Updated: November 16, 2009 5:34 PM
The infamous SilkWind pit could transition from a sore point to an active construction site in 2010.
"It is still moving forward," assured Peter Laughlin with Wessex Management, which represents the condo development. "(The developers) are going to make an announcement toward the end of the month."
Colwood can expect to see activity on the site in early 2010, Laughlin said. That's a welcome message to a community that was left with a gaping hole on Wale Road when construction ceased almost two years ago.
The City was assured Edmonton-based developers Aquinas Corp. and Urbia Developments have refinanced the project. A new real estate company has been assigned to selling units.
The 23-storey tower will house 173 condos. The square footage of some units has been reduced to bring the price down, Laughlin said, although he wasn't able to confirm prices at this time. The quality of finishing will remain the same, he said, however, floor space will drop from more than 1,000 square feet to 750 square feet.
Colwood council raised safety concerns over the pit, and were considering taking action to refill a portion of the site.
A geotechnical report has been requested to confirm the site is secure. The developers have also been asked to work with the City to restore the bike lane and pedestrian sidewalk on Wale Road. Outstanding 2009 property taxes have also been paid.
The issue is scheduled to return to the Nov. 23 council meeting.
reporter@goldstreamgazette.com
