A2 - Sunday, September 25, 1983 - North Shore News

THE CONSTRUCTION crews are back at the
Lonsdale Quay development site, as the project
moves closer to its targeted completion date of

1985.

**The end of 1985 will pret-
ty well be the end (of the pro-
ject),”’ says Eric Martin,
general manager of the
Lonsdale Quay Development
Corporation and a general
manager with the parent B.C.
Development Corporation.

Construction is going on
now for two office projects,
one located on Esplanade
between the ICBC and B.C.
Rail Buildings and the other

By MARK HAMILTON |

closer to the waterfront.

As well there are deals in
the works for two other com-
ponents of the development.

Those deals would see
developers purchase the land
for and then develop a 70 to
100 unit townhouse complex
and the public market site.

Details of the agreement

the worl

VICTORIA - The most
hectic week of recent years
at the B.C. legislature has
ended with no indication
politicians are through yet
with marathon sittings
and growing bitterness.
The Social Credit party
turned the tables on the
NDP, holding all-night
sittings throughout the
week and twice invoking
closure on NDP-proposed
amendments to battle the
Opposition’s filibustering
plans.
By the end of the week

COMOX - Nuclear-armed
rockets stored at this Van-
couver Island Canadian
Armed Forces base will be
removed.

the Genie missile will be
removed from the base by
July | of the next year.
The Genie, an
unspecified number of
which are located at the
base, will be replaced by
new F-18 fighters armed
with conventional

MANILA- Tension con-
tinues to grow throughout
the Phillipines despite
threats by President Ferdi-
nand Marcos that martial
law may be re-imposed
and that anti-government
demonstrations will be
broken up by rifle fire if
necessary.

The warnings followed
a week of demonstrations
against the Marcos
government, demonstra-

Comox will lose
nuclear weapons

Officials say stocks of -

Manila riots
bring warnings

outside. °°
Long week ends
for B.C. MLA‘s

three of the government’s
more controversial pieces
of legislation had been
passed - Bill 3 which
outlines the public service
restraint plans, Bill 6
which deals with question
of control of education
financing and Bill 9 which
severely limits the plann-
ing function of regional
districts.

All three, along with
eight other ‘‘minor’’ bills’
approved two weeks ago, .
go to committee for fur--
ther debate.

Sidewinder and Sparrow
missiles, non-nuclear
weapons.

Capt. Trevor Kennedy,
a spokesman for the Com-
ox base, said at least two
F-18 fighters will be sta-
tioned at Comox.

The existing Squadron
409 which flies Voodoo
jets out of Comox will be
disbanded but a squadron
of the same name will be
established at Cold Lake,
Alta., the main F-18 base.

tions that were touched
off by continucd outrage
at the assassination of op-
position leader Benigno
Aquino.

As well students have
marched through the
streets to protest an im-
pending visit to the
Phillipines by American
president Ronald Reagan.

A rally of 100,000 pro-
testors cartier this week
ended with 11 people dead
and 247 wounded,

>

for the development of the
public market site are ex-
pected to be announced soon
while the agreement for
residential development, the
smaller of two proposed for
the Lonsdale Quay area, is
pot likely to be completed un-
til early next year.

‘Martin says the two office
buildings currently under
construction will likely be
finished in 1984 while the
residential project and the
public market site develop-
ment will begin in that year,
being completed in 1985.

Construction of the re-

at Lonsdale Quay

maining two components of
the plan for the 26-acre site
— a residential complex of
about 200 units and a three-
storeyoffice building at the
northwest corner of the site
— will likely start in late
1984.

Completion of the overall
project, including North
Vancouver City’s develop-
ment of the six-acre public

_ park site now under way, will

leave the area ready to star in
Expo °86 activities, expected
to attract millions of visitors
to the Greater Vancouver
area during the world fair’s

nine-month run.

When finished, the project
will feature about one million
square feet of development,
with 60 per cent of that office
space, 25 per cent residential,
10 per cent retail and five per
cent institutional.

That space will generate a
total of $2.7 million in tax
revenue for all levels of
government, compared to the
$110,000 that was being col-
lected before the proposal
was put together in the late
1970s.

As well, Martin says, it ap-
pears BCDC will at least

the individual

FINAL

break-even on the project.

The cost of assembling and
servicing the land and
developing the plans — with
everything those tasks entail
— will be offset by the sale of
parcels to
developers.

That’s despite the 18 and
19 per cent interest rates the
corporation has faced and
the fact that the two office
building sites now under
development were sold at
prices less than originally an-
ticipated ‘‘to keep the
development going’’ accor-
ding to Martin.

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