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

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.

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

Exercise of Option to Purchase Agreement (July 20, 2015)

Amendment to the Option to Purchase (June 22, 2015)

Option to Purchase Agreement Extension (June 15, 2015)

Amendment to Option to Purchase Agreement (May 25, 2015)

Council Approval of Disposition (July 22, 2013)

Notice of Disposition (July 8, 2013)

Council Endorsement of Agreements (October 28, 2013)

Acceptance of Project Under Revitalization Tax Exemption Bylaw 2011 No. 7143 (October 7, 2013)

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
Details
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.
Background
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.

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