21–30 of 197 posts
I can see why it's being taken care of. A town with Tide Water access on Canada's west coast could be very very valuable.
(At the risk of sounding uninformed) - why?
Pipelines from Alberta to BC are a political minefield but buying real-estate and then waiting for the politics to “blow-over” is apparently a thing that happens a lot.
BC in the 80s, 90s seemed like completely different worlds compared to today. Vancouver especially seemed to have peaked early 2000s before the housing bubble took off. Rainforest Cafe, Playdium, Indy 500, Vancouver Grizzlies, Canucks. It had so much going for it. What was once a fun, soulful city is now something completely different.
I'm no real estate developer, but isn't $50M very cheap?
From the article: >Not only a ghost town, but a ghost town that was built for $50 million in 1981... >It is a long way from any major city, and not accessible by road... Edit: From Wikipedia... >In 2004, the ghost town was bought by Indian-Canadian businessman Krishnan Suthanthiran for $5.7 million; he has spent $2 million maintaining the town.[2] In the end, he would have spent over $20 million more to fully update…
That doesn't seem to be true:
https://www.google.com/maps/dir/Port+Edward,+BC,+Canada/Kits...
To have essentially a town frozen in time, maintained as such, is such a treasure.
BC in the 80s, 90s seemed like completely different worlds compared to today. Vancouver especially seemed to have peaked early 2000s before the housing bubble took off. Rainforest Cafe, Playdium, Indy 500, Vancouver Grizzlies, Canucks. It had so much going for it. What was once a fun, soulful city is now something completely different.
I can see why it's being taken care of. A town with Tide Water access on Canada's west coast could be very very valuable.
(At the risk of sounding uninformed) - why?
Even a minor change in water depth would dramatically increase waterfront realestate area.
The key here is the abandoned infrastructure origionaly left for the school an shoping mall.
People will flee further north with time as our lives become more decentralized and the climate become more temperate.