Tuesday, October 7, 2008

Famous Last Words

"We don't see there is a risk with taxpayers."

This gem follows this headline:

Olympic Village way over budget

Athletes' housing already faces extra expenses of $60m to $65m

Read the Province story here, and then count the days till the penny drops.

Let me give you a hint.

This $1 Billion city project in False Creek East is based on the stability of a New York hedge fund.


Anonymous said...

You realize that $1 Billion divided by 1100 units is over $900,000.
Who will buy them in this distressed market after the Olympics?
Would it not have been better to locate the Olympic village in a cheaper run down area in the East side, and build more affordable units which could later provide housing for disadvantaged people?

Anonymous said...

It will get built,Vancouver tax payers will pay but the social housing aspect of the project,oh well!
Did anyone ever expect fancy green buildings to become social housing?

Do the math--1100 units--The cost,over a billion and rising,that works out to over 1 million per unit,how is anyone on a social housing list going to afford that--The sad part,all players knew that from the beggining,another broken VANOC,CAMPBELL LIE--What else in new!

Anonymous said...

Have you had enough yet? Famous words from a now infamous Liberal Cabinet minister.

Of course the taxpayer has to ante up, it's the Olympics you know. Gordon Campbell's great reelection goody, the Olympics, is getting tarnished and just wait...........US recession, global financial meltdown, who is going to come and watch?

The Olympics are in trouble and have been for a year or so. Why do I say this? All the goody two-shoes, mom and apple pie stories for the last year in the media. Good god, mention the Olympics and everyone sheds a tear.

What would happen if no one came? Those big corporate dollars are just not going to happen and Americans really don't give a damn about what happens up here. Me thinks Gordo and his pals are getting more than heartburn over the Olympics, in fact, as I read it, it's getting serious - acid Olympic reflux!

Oh by the way, here is more acid reflux for the Vancouver taxpayer - the 1st Ave./Olympic village RAV subway station is build only to accommodate 3 car trains. This means with crush loading, the metro will only carry a maximum of 15,000 persons per hour per direction or about 10,000 pphpd less than the peewee Millennium Line. Now if demand increases (which I doubt) all the subway stations must be dug up and extended, which means more cut and cover construction - HELLO Susan Hayes! But the 1st Ave. Olympic Village station is owned by the city, ha ha ha. Let's see the cost to rebuild the subway stations will be $20 million to $30 million per station.

ha ha ha.

I do not live in Vancouver