BC Economic Fundamentals 2008-08

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Court upholds Mackenzie mill supply agreement

VANCOUVER -- B.C. Supreme Court upheld a fibre-supply agreement for the Mackenzie pulp mill yesterday and approved a purchase agreement with Edmonton-based Worthington Properties, clearing the way for a start-up of the mill in the economically troubled town.

Worthington president Dan White is expected to arrive in Mackenzie today to meet with former managers and employees of the mothballed Pope & Talbot mill to discuss a start-up strategy, Worthington lawyer John Sandrelli said after the court ruling.

http://www.canada.com/victoriatimescolonis...44-221d388f2790

 

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B.C. gets fewer international tourists

VANCOUVER -- B.C. attracted 121,000 fewer overnight international visitors during the first half of 2008 -- with declines in U.S. traffic being the biggest factor, according to Tourism B.C.

But Tourism B.C. president Rod Harris said increased travel by Canadians in B.C. should boost tourism revenues by three per cent this year to a record of about $11 billion.

"I wouldn`t say I`m bullish we`ll hit [the revenue target] for sure but I`m cautiously optimistic," he said.

http://www.canada.com/victoriatimescolonis...1e-01989201c4be

 

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2010 boss taking notes in Beijing

BEIJING -- Vancouver 2010 boss John Furlong praised the Beijing Olympics today as "spectacular" and "magical" but with areas open to improvement, especially avoiding empty seats at competitions.

"The delivery of the Games, from our perspective, has been quite awesome and quite humbling," Furlong said at a news conference. "Our lasting impression of the Olympic Games will be of precision, spectacular fields of play and arenas that allowed athletes to perform at their very best."

http://www.canada.com/theprovince/news/sto...fc-68f79092d6d8

 

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Higher property values predicted along the line

History suggests the Canada Line rapid transit corridor could spur a residential growth spurt around its stations for decades after the 2010 Winter Games, according to a new report.

Development patterns that sprouted around SkyTrain`s Expo Line suggest a similar future for the Canada Line, Landcor Data Corp. said in a report made public this week.

Landcor also found that Squamish has received an infrastructure-aided boost to its real estate market with improvements to the Sea to Sky Highway, which was timed for the 2010 Olympics.

http://www.canada.com/vancouversun/news/bu...eb-5524b93e4f79

 

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Richmond business owners fined $320,000 for tax evasion

VANCOUVER - Two Richmond residents and the clothing import company they own have been fined $320,000 after pleading guilty to tax evasion in provincial court Friday.

Robert Chen was also given a conditional sentence of 15 months` house arrest, while Joyce Chen is to serve 12 months of house arrest, according to a Canada Revenue Agency statement. Both must also complete 30 hours of community service.

http://www.canada.com/vancouversun/news/we...89-10e3f3346635

 

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Builder drops townhouse prices by as much as 10 per cent

Prices for the residences at Enclave at Morgan Heights, a townhouse project under construction in south Surrey, have been significantly reduced -- something not before observed on the pages of Westcoast Homes.

In June, the two-bedroom Enclave townhomes were advertised as starting at $359,900, but in July the starting price was dropped by $35,000 to $324,900.

The three-bedroom units were also reduced, from $399,900 to $369,900 -- a drop of $30,000 -- and the four-bedroom homes were reduced $20,000, from $444,900 to $424,900.

http://www.canada.com/vancouversun/news/we...46-6439ed6e9340

 

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Albertans love adult playground

Located in the heart of the Shuswap region on the shores of Shuswap and Mara Lakes, the community of Sicamous, B.C. was once mostly known as the Houseboating Capital of Canada.

Visitors would come from all over Canada to rent a houseboat, exploring the vast expanses of Shuswap Lake and almost 1,000 kilometres of shoreline.

But lately, the community has been attracting people for more than just boating during the region`s long, hot summer.

http://www.canada.com/edmontonjournal/news...8c-1d05f7586b94

 

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Prices ease in Vernon

And now it appears the real estate market in the North Okanagan is finally taking a breather after several years of steep price increases and short supply.

"We had healthy double-digit price increases in the past couple of years and that type of increase is not sustainable over the long term," says Rob Shaw, a Vernon realtor and director with the Okanagan Mainline Real Estate Board (OMREB).

"We`re seeing a more balanced market with price increases moderating, but prices are not falling, so far." Shaw says having more choice is definitely working in favour of buyers.

http://www.canada.com/edmontonjournal/news...a7-b2fffd1f7809

 

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Province announces more VJH expansion plans

The blueprints are changing for Vernon Jubilee Hospital`s planned tower expansion.

B.C. Minister of Health Services George Abbott announced Thursday that the new patient care tower at VJH will expand further, from five storeys to seven, and modernize services for patients.

Kelowna General Hospital will also receive a major expansion, with construction contracts for both projects being awarded to Infusion Health, an international consortium that, according to its website, is "experienced at developing and delivering complex public-private partnerships in Canada and around the world."

http://www.bclocalnews.com/okanagan_similk...s/27322604.html

 

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No direct bus yet

TransLink is expanding service between Maple Ridge and New Westminster on Sept. 2, but an express link is still a ways off.

Starting next month, the No. 791 bus linking the Haney bus exchange to Braid Station will offer midday service every half an hour, in addition to the current peak service, from Monday to Friday.

TransLink spokesperson Drew Snider said the regional transit authority is considering adding an express bus to connect Maple Ridge and Pitt Meadows to SkyTrain, but couldn`t say if that would be part of TransLink`s December or April service changes.

"Right now all things are on the table," he said.

http://www.bclocalnews.com/tri_city_maple_...s/27252209.html

 

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City`s vacant lot for sale

A large parking lot that has been shunned by shoppers and merchants is for sale.

Darrin Leite, Langley City`s director of corporate services, said that the parking lot in the 20500 block of Fraser Highway is on the market for $1.5 million.

On July 31, the City completed the transaction to buy the parking lot behind the Timms Centre from the owners of the Langley Hotel. The price was $1,297,000.

http://www.bclocalnews.com/surrey_area/lan...s/27294314.html

 

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House starts dip, suites are up

Preliminary results from Canada Mortgage and Housing Corporation`s (CMHC) monthly starts and completions survey indicate another month of high housing starts.

The number of homes started in July was a quarter over the figure recorded for the same month last year.

But Langley Township`s Building Statistics report for July indicates single-family housing starts here are down significantly, both for the month of July over July 2007 (34 permits versus 82 permits respectively) and for the year to the end of July 31 (275 permits in the first seven months of this year compared to 629 in the same period 2007).

http://www.bclocalnews.com/surrey_area/lan...s/27294469.html

 

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New film studio to open next week

Kelowna - From producers to politicians, the Okanagan Film Commission expects plenty of people to turn out for the opening of the new Cannery Film Studios in Westside on Wednesday. The facility features two, 3,500-square-foot sound studios and a massive production office workspace in the front entrance.

Film commissioner Jon Summerland said economic development specialists have been advocating for this type of establishment here for the last five years.

http://www.bclocalnews.com/okanagan_similk...s/27324009.html

 

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Valley transit vision quest starts

A search for ways to dramatically improve transit serving the Fraser Valley is starting.

The province, in partnership with TransLink and the Fraser Valley Regional District, has called for consulting firms to step forward that are prepared to undertake a series of studies.

The initiative is titled "Strategic Review of Transit in the Fraser Valley."

The product would be a new long-range vision for what transit in the valley should look like by 2020 and 2030 – along with interim targets for 2013 – including key measures and initiatives to get there.

http://www.bclocalnews.com/news/27297694.html

 

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Subdivision is riding high in market saddle

Kamloops - Saddleback Hills subdivision is abuzz with a couple of new developments just entering the market. Phase 3 of Saddleback Hills has several new homes ready for occupancy, ranging in price from $414,900 to $534,900, and the release of phase 4 of building lots will be later this fall.

The Views at Saddleback is rolling out the second phase of this 48 bare-land strata complex.

The level-entry floor plans start at $339,900 and, in keeping with the namesake, will offer optimum views of the city lights and the rivers winding below from the main floors and the walk-out basements.

http://www.bclocalnews.com/bc_thompson_nic...s/27325979.html

 

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Harmac taxes a big challenge for new ownership group

Mill rates will soon take on a whole new meaning for the new owners of Harmac.

Among the many challenges Nanaimo Forest Products faces – permits, environmental liabilities, labour contracts and product lines – simply paying city taxes could be a big hurdle in 2009.

Brian Clemens, Nanaimo`s director of finance, said NFP will be required to pay taxes next year on the site`s taxable value, rather than its purchase price.

That means, assuming its Aug. 29 deadline is met, the company made up of former Harmac workers, management and private interests will be on the hook for roughly $3.35 million in property taxes for 2009, since the site is assessed at worth more than $77 million.

http://www.bclocalnews.com/vancouver_islan...s/27286564.html

 

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Questions grow as Port Mann builders picked

Big questions remain unanswered about the planned twinning of the Port Mann Bridge, despite the naming this week of the consortium that is to begin construction later this year.

The province said Tuesday it has picked Connect BC Development Group – which includes the B.C. firm upgrading the Sea to Sky Highway – to twin the bridge and widen Highway 1 from Vancouver to 216 Street in Langley.

Metro Vancouver`s Pieter Kiewit and Sons is a partner in the group that includes Australian infrastructure firm Macquarie Group, U.S.-based Transtoll Inc. and Flatiron Constructors Canada Ltd.

http://www.bclocalnews.com/news/27233669.html

 

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Uptown developers want more floor space

Saanich - The mega retail, office and residential project slated for the old Town & Country shopping centre is getting super-sized -- if developers get their way. Council approved the project, dubbed Uptown, in March 2007. Since then the property`s owner, Morguard Investments Ltd., has asked for two increases in the last three months.

On May 15 and Aug. 6, Saanich planners received applications for an additional 16,411 square metres, said Saanich planner Neil Findlow. That`s up from the already-approved 120,774 square metres.

http://www.bclocalnews.com/vancouver_islan...s/27072379.html

 

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Saanich residents concerned about proposal for Island`s tallest skyscrapers

A pair of 33-storey towers, complete with more than 650 housing units, would put an impressive strain on already high traffic volumes in Saanich, say neighbours of the under-construction Uptown development at the former Town & Country site.

A group of about 30 residents, some members of the Mount View-Colquitz Community Association and some non-members, gathered near the old Town & Country location Monday evening for an informal information session on the two towers. Organizers used helium balloons to demarcate the approximate height of the buildings.

http://www.bclocalnews.com/vancouver_islan...s/27182574.html

 

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More Canadians give land lines a pass, study finds

OTTAWA -- Canadians who use cellphones exclusively at home are more likely to be male, young and Internet-savvy, according to a new study.

The survey, by Ekos Research Associates, conducted for Public Works and Government Services Canada found that 68 per cent of people in cellphone-only households are 34 or younger, compared to 30 per cent in the general population. Sixty-nine per cent are male, who represent just under half of the Canadian population, and cellphone-only respondents were also likely to spend more time online and made use more frequently of interactive Internet applications.

http://www.canada.com/vancouversun/news/st...ef-ff950bde6bc6