More Uncertainty for Millennium Water

Georgia Strait is reporting some tenants in the ex-Olympic Village are encountering higher than expected utility bills:

The group managing two City of Vancouver–owned housing properties at the Olympic Village is hearing complaints from residents about excessive energy bills.
Thom Armstrong, executive director of the COHO Management Services Society, admitted that his group also wants some answers.
“As to the level of the invoices, we have some questions about that ourselves,” Armstrong told the Georgia Straight in a phone interview.
Unlike many residents outside the Olympic Village, which has been touted as a model of a sustainable neighbourhood, residents of the Southeast False Creek development are charged two bills for energy.
One is for electricity consumption, and this bill comes from B.C. Hydro. Then there’s a bill from Enerpro Systems Corp., a North Vancouver–based company. According to information that Enerpro put out about its billing, the charges cover “heating, cooling, hot water, and cold water”.

It’s not necessarily that utility bills are higher than other units — though they may well be — but the uncertainty for future owners and tenants make this development all the more the black sheep. We already know the current rental environment is a “renter’s market” so to ensure that units can be filled the City may find it needs to take on more utility liability. But in terms of reducing energy consumption…

Armstrong said, “… I still very much support the notion of individual energy metering, because that’s the only way to create any incentive to lower energy use and lower the carbon footprint. So I think, on principle, it’s what we want to do. We just want to make sure that the system is working the way it should be.”

Indeed. When economic and carbon footprints collide, who pays, exactly?

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Derp Derp

@space889:

space,

the knowledge gained from our experience with the english and american industrial revolutions is not being put to good use in china – it's a travesty – don't make the same mistakes we did – i am not excusing our behavior.

all i am saying, is that if 3 billion chinese and indians want to drive cars and live in luxury condos and 'villas' in the burbs, there won't be an earth left.

don't be like north americans – it's really stupid.

Jack

Found this article to be a great insight into the effect of the US housing bubble:

How the bubble destroyed the middle class

Commentary: Sluggish growth is no mystery: No one has any money

http://www.marketwatch.com/story/how-the-bubble-d

900kCrackHouse

@Romeo Jordan: You hit the nail on the head man. If you call the start of the housing downturn every month, you'll eventually hit it on the head, and then you can call yourself the "genius who predicted exactly when it all would start"

Bailing in BC

Apologies, that's Aotea Square, every Saturday rain or shine.

Bailing in BC

@Anonymous:

Aotera Square.

Anonymouse

@Best place on meth:

A few weeks ago I offered to post data on downtown attached properties for the last 18 months, but you were all too busy moaning about the hospice or whatever to respond…. I can't be bothered to do it now.

Anonymous
Ravishing Rick

@ no way paully

Haha you are the most pathetic real estate humping loser i have ever seen. Real big man picking on paulb on an anonymous blog!

Paulb is my drinking buddy, you beeeeeeatch!

Hit the double jeopardy music!

Anonymous

dont tell me you cant afford whalley.

Ravishing Rick

Cut the music!

Listen up you under water, mls listing sweat hogs… Shut up and sit down so i can show you how a real man watches the real estate market implode.

I hope you missed me! I just got back to whalley after spending a few weeks in the hamptons….

Read the following article: http://www.bloomberg.com/news/2011-07-08/jpmorgan

"The brokerage cut its rating on Hong Kong, saying that property prices are “excessive relative to income” and that the city’s real-estate market, along with those in China and Singapore, has “peaked.” JPMorgan raised its rating on South Korea to “neutral” from “underweight” amid an improving outlook for developed-nation economies, according to the report."

@Li kai… How do you like them apples… And by apples i mean this kick in your already deflated manhood.

Hit the 1970s porno music!

Anonymous

hey romeo jordan,

did you sell your shoe box in north van yet? put your money where your filthy mouth is.

#91

how do you know the Van RE business did not get Paul anywhere? at least, he had to flee all the way to the east coast. Paul is a good realtor, he is trying to sell RE to the posters on this blog.

Anonymous

Paul is just trying to earn some business from the posters on the blog. sorry, wrong target market, Paul.

Anonymous

#91,

how did you know the RE business didnt get Paul anywhere? At least, he got to flee all the way to the east coast.

Anonymous

hey Romeo Jordan,

did you sell you shoebox in north van yet?

Anonymous

No way pauli,

Why are you slagging someone who provides sales info, honest opinions about the market?

If you don't appreciate this, then eff off and start your own blog

Romeo Jordan

Hi Paul,

Yes, I think the tide is turning.

Bill Good show today – chatter on how the Canadian housing market is "cooling" (Royal LePage comments).

MSM will fan the flames. It will take time, but I'm starting to see the potential beginnings of a rush to the exits (trying to take profit at the top of the market).

We'll see if inventory chokes demand. I drove around Burnaby this afternoon, lots of For Sale signs and no 'buzz' around RE anymore.

This could be the start of a severe downturn.

xoxox

Romeo Jordan

No Way Pauly

Paul.. stop it! Did you not learn your lesson from the last time you tried to be a realtor? Outspoken (and consistently wrong) bearish sentiments will get you nowhere in that business. Do not mistake the growling affections from those in here for true attention or connection.

Li Kai Shing

Hoo Boy !!!

Battle of the Basement Suite troglodytes !!!

My Yuan on Meth Man !

Winner get Pint at Ivanhoe !

Anonymous

@looking for a house, but failing:

I saw him driving a Lamborghini with an "L" sticker on it. Lol.

looking for a house,

@space889:

If you think transit in Vancouver is "not being used" you should try and board the skytrain or a bus to BCIT in the rush hour. You are obviously one of those guys driving cars you so critical of, or you would know better…

Best place on meth

@Anonymouse:

That goes double for you.

Apart from constantly whining like a little girl, your contributions to this blog have been a grand total of zero.

Why don't you leave forever? Even troll occasionally has something useful to say.

You? Zip.

Anonymouse

@paulb:

Would we expect to see fewer reported sales (subject removals) this week due to the 4 day week last week? Am assuming nobody would have made any offers on Canada Day?

looking for a house,

@paulb:

Can we get this published in MSM? Translated in chinese?

Then you will get your turning point.

Any ideas?

Anonymouse

@Best place on meth: "Now shut the fuck up already, nobody cares about your China-apologist bullshit anymore. "

Best blog evarrrr? LOL

paulb

New Listings 268

Price Changes 99

Sold Listings 105

TI: 15880

Bearish week. Is this the turning point?

http://www.laurenandpaul.ca