2c. Is it true that OBUC is far down the planning road, having already completed extensive financial modelling and design concepts?
No. We are in an initial planning stage and still reviewing multiple initial block design options. Required technical detail, unit mix, design elements etc. have not been identified and the detailed project financial work can’t start until design options are refined.
A financial model was developed starting in March 2017 to estimate potential viability of a wide range of estimated possible development variants, to satisfy the church Board on viability and risk. This was shown to BC Housing to secure a project planning loan. Architects HDR|CEI were only hired in September 2017, and their initial work only commenced after the November 2017 sessions with our neighbours and congregation.
While we’re progressing, we are still at the start of our consultation with neighbours and the Oak Bay community in determining how we achieve our goals, alongside those of the broader community.