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,

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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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