We are pleased to provide you with an update on our NationWide Self Storage (NWSS-II) property located at 2055 Boundary, BC (the ‘Boundary Property’).
Demolition is nearing completion
We are very pleased to report that the City of Vancouver awarded us the demolition permit for removal of the old buildings located at 2055 Boundary, BC (the ‘Boundary Property’). As such Tango Management (“Tango”), our demolition team, commenced the demolition and clearing of the Boundary Property last week. Both Buildings have dropped, materials separated and removal has commenced. They are on-schedule to have the property cleared by April 17th, 2020.
Building contractor selection
Our project managers at BTY Group have now short listed the building contractors that will be invited to bid on construction and once all value engineering options (cost saving measures) are reviewed and accepted, BTY Group will commence preparation of the proposed fixed price construction contract. Once the contract is secured, the awarded contractor will provide a construction start time and estimated build timeline.
As previously announced our architects, BFA are continuing to push the City of Vancouver to issue our building permit. Unfortunately, now with COVID-19 all city workers are working remotely and things have slowed dramatically. The delays at the City of Vancouver continue to be extremely frustrating, building permit approval wait times have been excessively lengthy due to the significant backlogs from the construction boom here in the Lower Mainland. That said, they are still working and there has been communication during this social distancing period which we are please with. As soon as the building permit is issued we hope to commence construction right away.
Download the full investor update to learn more about our upcoming Boundary Property combination self storage/car wash facility.
Don’t Miss Our Updates!
Please view the Boundary Property Overview page on our website for all relevant project details, latest investor updates, architectural drawings and/or building pictures as they come available.
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This information is general in nature and does not constitute an offer to sell or an advertisement, solicitation, or recommendation to buy securities. Nothing on these pages constitutes investment, legal or tax advice, nor was it prepared in consideration of the investment objectives, financial situation, particular needs of any specific recipient. There can be no assurance that investments will perform as or be of the quality anticipated. There are risks associated with any investment.