Coriolis is managing an RFP process for the acquisition and development of a high density, mixed use site in the core of the waterfront community of Esquimalt, BC. The project is intended to include residential, retail, office, and a new public library.
Coriolis assisted the owners of an existing older multi-family property – Seaview Garden Estates – in marketing their property for redevelopment via a competitive Request for Proposals (RFP) process. Several very attractive offers were received and the successful proponent entered into a conditional agreement. All conditions have now been satisfied, and the sale is scheduled to close in mid February.
Coriolis designed and managed a Request for Offers and disposition process for the sale and redevelopment of a privately owned high density residential site in West Vancouver. The ownership of the property is structured as a corporation, with individual shareholders having leases on apartment units in the existing older structure. Coriolis helped the shareholders develop a strategy for disposition and has designed and implemented a process for receiving offers, agreeing on the preferred offer, and accepting offers to purchase.
Coriolis worked with Simon Fraser University on exploring the potential to involve the private sector in the creation of new on-campus student housing. This model has been used very successfully at many American campuses but is relatively new to Canada. Coriolis managed a Request for Proposals Process on behalf of SFU to seek private sector interest in funding, developing, and managing new student residences.
Coriolis managed the disposition via Request for Proposals of major residential and commercial development parcels on the Fraser River adjacent to the skating oval constructed for the 2010 Winter Olympic Games. This RFP yielded more than $150 million for Richmond.
Coriolis completed the successful disposition, on behalf of the Province of BC , of the business and assets of the Surrey Nursery in the Campbell Heights area in southeast Surrey BC . We helped the Province privatize this tree seedling operation, preparing the way for the long term redevelopment of this land as part of a large business park and industrial district.
We assisted the Vancouver School Board in the disposition of a full City block in the Broadway area of Vancouver and in negotiating the development of a headquarters building on part of the site. Our role included designing and managing the proposal call process, evaluating submissions, and negotiating the final terms of a long term land lease to a private developer.
We assisted the City of Coquitlam in a proposal call process to secure a development manager and financing for a new City Hall and a Public Safety Building. Our role included initial advice on the overall strategy for creating a public/private partnership, design of the proposal call process, evaluating submissions, helping select the preferred proponent, and negotiating the business terms for project management, construction management, and financing.
For the City of Kelowna, we completed a process in which we secured a private sector development management and financing package for a new central library and parkade in the downtown area. We designed and managed the proposal call process, evaluated the submissions, helped the City select the preferred proponent, and negotiated the business terms for project management, construction management, and financing. As part of this project, we helped the City analyze the advantages and disadvantages of structuring the deal as a City-owned project with mortgage financing or as a privately-owned project with a City leaseback.
For CMHC, we had a major role in the disposition, via a combination of sale and lease, of 12 development sites in the Kitsilano area of Vancouver. Some of the properties were offered for sale to private sector developers and some were offered for long-term lease to nonprofit developers. Our role included designing the proposal call process, evaluating submissions, assisting in the selection of the successful proponents, and negotiating the detailed terms of purchase agreements and land leases.