Friday, January 23, 2009

Hey Gordo.......He Likes It!


Do you have a residential construction project that needs a big whack o' cash to get done?

Does your project have a huge social component that includes a majority of 'resident-restricted', 'rental' and 'hostal' units that dwarfs a small minority of market-based condominiums.

And finally, are you a non-profit organization rather than a big-time developer?


With all that socialism-type stuff in mind, where are you going to go to get the money to complete the project.

Banks?.......At a little over prime?.....


Hedge funds?.... At a billion over prime?.....

No stinkin' way.

Hey! I know.

Let's ask Gordo.


Gordo won't lend it. He hates everything.

Everything socialist, that is.



"Whistler Olympic Village officials have quietly negotiated a $100-million loan with an interest rate of just 1.585 per cent, one-sixth the rate charged to developers of the controversial Vancouver Olympic Village project.

The three-year, floating-rate loan expires on Dec. 31, 2011 and was provided by the Municipal Finance Authority of B.C., the province's local government financing agency.

The money is being used to fund the $161-million, 350-unit Whistler athletes' village, due for completion in October."

Clearly, in Gord's new five-ringed, circus tent gone-wild world, granite countertops just don't cut it anymore.

Details of all that socialist-type housing are in Bruce Constantineau's most excellent VSun piece that is linked to above....It really is interesting to me how this is being played as a 'Vancouver is stunned, Whistler gets it done' kind of thing in the 'Lectronic Lotuslandian media while so little attention is being paid to the extreme irony.


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