We have been told that City Hall insiders say that TWENTY TWO new towers are sitting in White Rock City Hall at various stages of planning currently on-hold pending the outcome of this election. Five towers have been approved to be built as soon as the market demand is there, including the one outside of the Town Center and another near the hospital.
If that rumor is true, then 22 Towers are worth as much as $2 Billion dollars in potential Condo sales and that means at least $100M in total profits to developers, $50M to real-estate companies, and over $1B in construction contracts!
You bet the Pro-Development Candidates are well funded! No wonder Keven O’Leary says that White Rock is THE hot place to invest if you have big money! No wonder advertisements for our Condos go all the way to China!
Not bad for a little 2 square mile town. That is not bad unless you want to be able to buy a single family home here. Then it’s bad. By zoning for high density, we make lots too attractive for developers and we lose our established base of single family homes at reasonable prices. Many older homes are sold for their lot alone, with the house being torn down to build two or more homes instead and double the original price. That’s no way to build a community.
There is nothing wrong with creating towers if that is what residents want. But the Pro-Development candidates should inform residents what voting for them will do to our little City by the Sea! They don’t!