I call BS.

Ives, you might want to advertise in the Journal of Commerce. There are contractors in Vancouver who would be snapping at your heels now, eager to start something. And the prices of many things are dropping quicker than your drawers on the way to your bed. Wood: down, steel: down, copper: down, gypsum: headed down, etc, etc...

So, if you've got the ba*ls to start something in this economic downturn (or more importantly, the financial horsepower) to carry you through about 10 years of flat sales, then fly at it.

My opinion: Don't do it. Cash is king, just put it into bonds or GIC's for a few years.

I'm with whitewater, another stinky little so called "deal"

Yup. B.S.
metalman.

The man wants to build it let him. We have no idea who is backing him but if he says he has the money that is good enough for me. It will create employment at a time when it is needed as long as the city is not thinking of cosigning any loans or other silly stupid things {Horizan deal}.

So he named his bank that he feels will fail him if the project doesn't go ahead? Is that part of the strategy I wonder? I wonder how his named bank feels about that lol? I guess we'll soon find out?

I too call B.S.

IMO he is a front company with some fancy sketch's and drawings and other peoples money. He has political connections with Kinsley through his company and their dealings. Front companies that are all talk and no real economic action usually have another motive... and that part is never stated to the public. Maybe its all about that prime land at 5th and Quebec, but a conspiracy theorist could easily jump off to all sorts of conclusions in light of the going ons in the BC Legislature surrounding the BC Rail influence peddling? Maybe it was just about the last election prior to this recent election... we may never know.

Maybe we have now heard the last of this 'mega' project lol to revitalize the downtown, or maybe we are all the horses you know.. and he comes along with the financing no one else seems to be able to get and makes a name for himself proving all the doubters wrong in PG. Imagine that....

He was interested around the same time a bunch of new malls and mega stores were built and Prince George was seen as booming.

After lumber tanked he stalled, and now with the economy tanking, I'm not surprised he's not in a hurry to get going on it.

Why don't we do this locally ?
Get a bunch of local investors together, double the number of units, make them modest and reasonably priced instead of high end, and a lot more people would be interested.

IMHO I don't think he had access to the cheap labour he enjoyes down south. I remember when he announced the deal on the eve of the last municipal election, vote for Collin or deals like this won't happen?????I said then and there it was total B.S. just my opinion.
Go and google this Ghiai character and check out his web site.

I pointed out 2 years ago Ghiai has never and I mean never built one thing yet. Nowhere in the world.

I say kick Ghiai to the curb. Sell the property to a BC company that has the resources to do the job. For instance, in the lower mainland, Polygon has been building condo developments for years and they do a great job. They are busy in the coquitlam area now, but most of their stuff usually pre sells, so check them out that is , if the city wants to get this project moving.

Anyone and everyone at the City associated with this ridiculous farce should be fired - period.

It was a waste of time, a waste of taxpayers' money, and a waste of an opportunity to do something meaningful downtown, all in the name of political grandstanding and message-control.

It's a public embarrassment, and somebody (not just the out-going mayor) should have to wear it.

F*cking unbelievable.

And how on earth can the city justify 'holding on to' this property for ghiaister the shyster? What kind of bullsh!T is that? So if locals or anybody wanted to buy that parking lot, they could'nt? Because it is being saved for a foreigner who has yet to offer anything but smoke and mirrors? Man, the people at city hall must be very gullible if that is what they are doing. "the city has not officially signed over the property to Ghiai" WHAT? that almost says that he would be given the property, say it isn't so, please!
metalman.

Considering the high profile condo projects in the South that have been postponed, I would imagine their are a few contractors looking for some work right now.

Wow this guy does appear to be a bunch of smoke and mirrors. Thier web site is full of what would appear to be unbuilt model proposals. What is constructed most pics seem to be decades old.

Ditto the BS call.

I don't blame city employees though. They have to follow orders.

Property on hold to means an option to buy which should translate into money to hold property for a set time and if not prsueued by that time kiss your money goodbye.

GHIAI is not a developer taking risks. To build only when it is 70% sold out. Any developer could do that. Even a low risk taker realtor can put a deal like that together.

A real developer, Hayer and Fortwood homes go into projects with only a anticipation of a sale. Their quality of work may be questionable but give them credit that they take the biggest risks and makes the most money.

Two of the reasons why he cannot find builders:

1. he is not intereted in finding a builder

2. builders are not willing to build for him since they do not know whether he will pay. They need to get him to put up a performance bond instead of the other way around.

The land is still on hold? That makes no sense. Obviously there are no buyers out there. If there were it would be sold.

There is a group of local investors that are going to buy the Prince George Golf and Curling Club for $15 Million. In addition to the property that they will buy the City also owns property there. Ie; The Playhouse Theatre, and the Roll A Dome property,.Plus I beleive the Tennis Courts.

It seems that the Property fronting Highway 97 and Highway 16 will be used for commercial development, ie; a new hotel, and some other projects. In addition the City plan calls for a 9 hole par 3 golf course.

What we have left is property fronting Ferry Avenue and Westwood Drive.

What do you think is going to be built on this property???? Apartments, and Condo's, what else.

If the City and the local boys want to develope the Golf Course property, then maybe they are not pushing to hard to have anything built downtown that would compete with them.

Just a thought.

I agree with you Gus, The owner has to put up a payment bond, or put the money in trust.

"Why don't we do this locally"

Because for the most part, our local builders have very little vision when it comes to building anything other than 3,000 square foot detached homes. Even then the majority of the houses they do build are some of the most boring designs I've ever seen. An upscale condo development from a PG builder? I'll believe it when I see it, LOL :)

That being said, there is no reason we should be "holding" the land. Put it on the market. If someone else wants to purchase it and develop it, all the best.