May 28, 2020
Update on 5120 & 5144 Cordova Bay Road (The Haro)
KG2 Developments has informed us that Phase 1 of The Haro (the two buildings on the eastern side of the property, closest to Cordova Bay Road) are 60% sold. The third proposed building is likely to begin construction after framing is complete on building 1 and 2. The underground parking for all 3 buildings are connecting, which may provide some assurance that this build out will get completed as proposed by KG2. An anchor commercial tenant is something KG2 would like to have in place prior to constructing the third building. A pharmacy, financial institution and dental office are confirmed commercial tenants.
Concurrent with the construction activity, clean-up of the site is being undertaken according to a remediation plan set by an environmental consulting firm, PGL Consultants, and accepted by the BC Ministry of Environment (MoE). The first of the requisite quarterly statements (31 March 2020) was received by the MoE and all was found to be in order. Lab results have been satisfactory and measures taken to date have been shown to be in accordance with stipulated requirements. Ongoing soil quality analysis and other compliance aspects are required to be confirmed as the effort progresses. A further report is due MoE at the end of June. MoE has given no indication of any concern with any aspect of the remediation plan or of the work performed to date.