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Former Conference Centre Hotel Proposal for 100 Gordon Street (2013)

Background

In the summer of 2013, Council approved the sale of the Conference Centre Hotel site at 100 Gordon Street to SSS Manhao International Tourism Group (Canada) Co. Ltd. for $565,000. The property transferred on 2013-Nov-29.  At the 2015-Jul-20 Council meeting, direction was given to reacquire the site from SSS Manhao for $565,000 as the company was unable to meet the timelines under the development agreements.

Staff reports providing background on the sale of the property are found below:

July 20, 2015 - Exercise of Option to Purchase Agreement
June 22, 2015 - Amendment to Option to Purchase
June 15, 2015 - Option Purchase Agreement Extension

May 25, 2015 - Amendment to Option to Purchase Agreement, 100 Gordon Rd.
July 22, 2013 – Council Approval of Disposition
July 8, 2013 – Notice of Disposition
October 28, 2013 – Council endorsement of agreements
October 7, 2013 – Acceptance of Project Under Revitalization Tax Exemption Bylaw 2011 No 7143.

The sale of the property included a number of agreements. These include: 

Agreement for Use of Conference Centre Parking Spaces
Hotel Development Covenant Agreement
Option to Purchase Agreement
Overhead Walkway Easement
Piper Park Easement
Right of First Negotiation Agreement

About the Previous Purchaser

The Purchaser was SSS Manhao International Tourism Group (Canada) Co. Ltd. (“SSS Manhao”), a subsidiary of Suzhou Youth Travel Services Co. Ltd. (“SYTSC”), which was incorporated in 1984. SYTSC was one of the first international travel service providers approved by the Chinese State Tourism Administration.

SSS International Consultant Group (Canada) Co. Ltd. was incorporated in 2002 in Canada.  The company was in the process of formulating a business plan with respect to development of a new tour route from Vancouver to Vancouver Island including an overnight stay at the proposed Nanaimo hotel.

Representatives from SSS Manhao stated that they planned to invest $50,000,000 in the development of the hotel project and once the project was complete, the hotel expected to attract 70,000 tourists each year with more than 500 jobs created.

About the SSS Manhao Project

At the time of the sale of the property, SSS Manhao's proposal was for a 17-storey building, with 197 rooms.  The final plan, approved by DP000854 on October 7, 2013 was for a 21-storey hotel, with 240 suites, 14 commercial/retail units, restaurant and bar on the top floor with a swimming pool and weight room.  The building did not contain any stand‑alone residential units.

 

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