Year end disclosure.Disclosure re the start of Loftus. The vacancy rate was up in the q.
One of the big causes is Grandview Highway.
My recollection was it was occupied by Glacier media subs. Given that the Rupert area plan is in play,
This may be strategic given it is an obvious redevelopment site.
In July 2024, the Silverdale Hills LP submitted a subdivision and rezoning application to the City of Mission to subdivide and rezone approximately 50 acres of land within the Loftus Village Project. In July 2024, the Silverdale Hills LP also entered into servicing agreements with the City of Mission to construct and install the first phase of public services, facilities, and utilities within the Loftus Village Project lands to support this 50 acre development. The Silverdale Hills LP obtained a letter of credit facility to a maximum of $30,000 in June 2024 and surety bonds totalling $25,804 in July 2024 as security to these servicing agreements with the City of Mission. Please refer to “Liquidity and Capital Resources” for details.