sburns
Well-known member
That is very governmetal, and probably going to happen.
I guess if Doug'ies friends don't get the lucrative parking lot deal they will get a nice fat consultant gig as backup?
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Ontario Science Centre
- Thread starter TK4
- Start date
I guess if Doug'ies friends don't get the lucrative parking lot deal they will get a nice fat consultant gig as backup?
As I anticipated, Toronto can't take over the science centre. Without provincial funding, it loses abut $20M per year (without even considering repair backlog). Torontos entire culture budget is 27M and it is already split 249 ways.
www.cp24.com
Toronto not in a position to assume operations of shuttered Ontario Science Centre, staff say
The City of Toronto is not in a position to take over operations of the now shuttered Ontario Science Centre, staff say.
www.cp24.com
You can rest assured that in a rainfall like we had yesterday that the to be built underground (meaning underwater given the location......) would have flooded, just like the tunnel to the Billy Bishop airport did.
The estimated cost to build this 2,500+ vehicle garage is $400 million. Like all government estimates this dollar figure is probably a joke and it will be 2 to 3 times that amount once it is finished.
When the garage floods the repair costs will be millions and it's likely the province will be on the hook for Therme's lost revenue as well.
The estimated cost to build this 2,500+ vehicle garage is $400 million. Like all government estimates this dollar figure is probably a joke and it will be 2 to 3 times that amount once it is finished.
When the garage floods the repair costs will be millions and it's likely the province will be on the hook for Therme's lost revenue as well.
I was at a condo meeting reviewing the piping in the parking garage and pointed out a particular risk.
Immediately one director said "Do it right. I sell cars and just standing here, mid day, I see ten million dollars in cars."
Flooded to the door handles, cars are close to scrap. Upholstery and electronics are shot. Engines and transmissions need to be stripped down.
Electrical rooms in garages can explode and the building can't be occupied until they're fixed. Typical insurance accommodation coverage is a few weeks. Repairs can take six months.
That's a rare director. More these days seem to be focused on cashflow and maximizing return on investment. Sure $10M in cars get destroyed but those policies and claims gets assigned to the vehicle owners not the building.
I have a BIL in Calgary who was the president of their condo corp. cmmt. and he presided over the 2013 Bow River flood and the repair process. Their buildings were constructed, smartly, so that all living space was well above the 100 year flood line and the sacrificial part of the build was the first level garages. Flood waters came within a foot of the garage ceilings, but none of the living spaces were impacted. Repairs took 18 months, huge insurance coverage battles, major hassle but the garages did get restored to their original condition. Many vehicles were completey immersed and a total loss. BIL was able to move his 2 cars to higher ground hours before the garages flooded, so at least he was spared the hassle of replacing them.
Mad Mike
Well-known member
Most condos have flood insurance for the building, and common elements (pools, sheds, landscaping etc) but not the interior space -- owners need their own insurance for that.
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