Latest news with #BriviaGroup
Yahoo
17-07-2025
- Business
- Yahoo
The twists and turns of CURV: 60-storey luxury tower planned for downtown Vancouver now facing receivership
On the corner of Burrard and West Pender streets, inside a splashy, ground-floor sales centre in the heart of downtown Vancouver, sits a large model of what was poised to be the tallest residential condo tower in the city, complete with twinkling lights up the side of its 60 storeys. The display room features elegant sofas and a massive screen runs a video with the project's architects speaking from London and New York. The sales centre's windows are emblazoned with marketing text that loftily touts the project as being 'designed for personal and planetary well-being.' But court documents filed in B.C. Supreme Court paint a picture of a project grounded in financial turmoil. On July 11, Royal Bank of Canada, on behalf of a group of lenders that also includes the Bank of Montreal and Meridian Credit Union, initiated receivership proceedings against the developers of the CURV luxury tower in the West End. A court petition, first reported by real estate news website describes a mortgage agreement where the developers of CURV owe a principal amount of $90 million that came due at the end of April and that is growing as interest accrues. As of July 10, the amount owed is over $91 million and B.C. Supreme Court will hear the application for receivership on July 25. In a city with many dramatic real estate tales, this one rolled together many twists, turns and gripping headlines before reaching this point. The project by Montreal-based Brivia Group originally proposed 328 strata units, 50 market rental units and 102 social housing units. In March 2025, Vancouver city council approved that Brivia could pay $55 million in a cash-in-lieu exchange for dropping the 102 social housing units. The project struggled to sell enough of its expensive presale strata units in a building with over 300 of them as the market for these turned. New buyers were even being offered a Porsche as an incentive to buy. Jacky Chan, a Vancouver real estate agent who was marketing CURV units, told the Globe and Mail in June 2024 that many of the presale buyers who had signed up were 'super wealthy, seasoned investors and holders of large property portfolios.' Lenders usually require that projects pre-sell between 50 to 70 per cent of units in order to qualify for construction financing needed to begin building without adding other sources of capital. Chan told the Globe the project still needed another $100 million. At that point, the developers had secured an extension of an extra year on the usual marketing period of 12 months, giving them until May 2025, which was first reported by The CURV site on Nelson Street now remains wrapped in signage for the project. The old apartment buildings never got demolished and sit vacant. The property first caught attention back in 2016 when Ian Young of the South China Morning Post reported that two old, walk-up apartment buildings, sitting side by side at what was 1059 and 1075 Nelson Street, had been flipped three times in three years, with one of the sales being a very big step-up in value. Vancouver developer Wall Financial Corp. first bought the properties for $16.8 million in 2013. It sold them to Sun Commercial Real Estate, a group of investors that specialized in pooling funds from Vancouver's immigrant Chinese community, for $60 million in 2016, who then flipped it to a single buyer for $68 million in a share sale. In April 2021, Montreal-based Brivia Group bought the project. The sale price was not disclosed, but Brivia aimed to build the world's tallest passive house or ultralow energy building. One-bedroom units started selling for more than $1 million and the top floor, 7,300-square foot penthouse was listed at $60 million. 'The project was completely ill-conceived from day one and those in the development industry knew as much, but there was a very ambitious project manager who no doubt made a lot of money, along with the real estate agents and other consultants and previous owners of the property,' said Michael Geller, a retired architect, real estate developer and consultant, who remembers going to the CURV launch party at the downtown sales centre. 'I suspect someone will try and buy this property at a discounted price and likely hold on to it for a while since right now, it really doesn't make sense to build either condominiums or a purpose-built rental on this site.' jlee-young@ Related Starchitects still coming with big designs to change Vancouver skyline Vancouver's opulent CURV tower gets away with switching out of below-market housing
Cision Canada
17-06-2025
- Business
- Cision Canada
Club Med, Station Mont Tremblant, and Brivia Group are in discussions to develop a Club Med resort on the Versant Soleil side of Tremblant Français
MONTREAL , June 17, 2025 /CNW/ - Club Med, the leader in premium all-inclusive vacations for 75 years, Station Mont Tremblant, and Brivia Group have been engaged in strategic discussions to explore the creation of an ambitious resort project in the Tremblant area in Quebec. This resort project, which would aim for eco-friendly certification and offer around 300 high-end rooms, is planned to be located on the Versant Soleil side, on part of the L'Hymne-des-Trembles site. The overall development project is spearheaded by Brivia Group, a renowned real estate developer known for landmark projects that blend contemporary elegance, architectural excellence, and refined design. Club Med will lead the development of the hospitality side of this integrated project, allowing Brivia to focus on delivering the residential phases of L'Hymne-des-Trembles while ensuring a strong and seamless integration between the residential and tourism elements of the site. Tremblant offers many advantages for hosting a project of this scale: an internationally recognized four-season destination that aligns perfectly with Club Med's clientele, providing a wide array of activities suited for families and active couples. This development is expected to become a significant driver of regional economic growth, projected to create nearly 300 direct jobs and at least as many indirect jobs. Approximately half of the employees will be housed on-site within the resort. The Club Med project would also promote local stakeholder engagement through partnerships related to excursion activities, services, and sourcing local products, while ensuring smooth corporate and community integration for Club Med staff within the local area. From the beginning, the parties have prioritized close collaboration with the city of Mont-Tremblant, demonstrating a clear commitment to ensures the project's harmonious integration into its natural, social, and cultural environment. Early discussions between the parties highlighted the common ambitions of the City and Club Med around sustainable tourism. For the Mont-Tremblant project, Club Med is targeting BREEAM certification at the "Very Good" level - an internationally recognized environmental building standard, as well as Green Globe certification for sustainable operations. These certifications reflect Club Med's strong commitment to environmental performance and long-term sustainability. The project's progress depends on several key steps, including securing financing - interest has already been expressed by several investors and banks - and obtaining the necessary building permits. If these steps are completed, construction could begin in summer 2026 with an anticipated opening in December 2028. Building on the strong success of Club Med Québec Charlevoix - Canada's first allinclusive resort, opened in 2021 and having welcomed over 130,000 guests in four years with an average occupancy rate of 75%, Club Med is enthusiastic about expanding its presence in Quebec and more widely Canada. This major project would stand as a new flagship for Club Med and a key driver of MontTremblant's economic and tourism growth, attracting visitors from Quebec, Ontario, and internationally who seek high-quality all-inclusive mountain experience. A public information session will be announced shortly to present detailed project plans and address questions. About Club Med Founded in 1950 by Gérard Blitz, who was later joined by French businessman, Gilbert Trigano, Club Med pioneered the all-inclusive concept and childcare with the creation of the Mini Club in 1967. With more than 75 years of rich history, Club Med operates nearly 70 premium beach and mountain resorts in 40 countries across 5 continents with new openings and renovations planned every year, offering even more hidden treasures to worldwide travelers. Thanks to the support of its shareholder, Fosun Tourism Group, and the success of its repositioning strategy, today Club Med is not only the world leader in premium, all-inclusive vacations, but also a global brand offering unique experiences to active families and couples worldwide. Club Med employs nearly 28,000 Gentle Organizers ( and Gentle Employees ( representing 110 nationalities. For more information, visit the website Follow us on social media Facebook, Instagram and YouTube. About Tremblant Tremblant is a top year-round destination that offers an exciting and unforgettable experience, from the mountain summit to the charming pedestrian village at its base. In summer, the area comes alive with outdoor activities and lively events, including the new BLOOMAFEST, the famous 24H Tremblant event, and the Tremblant International Blues Festival, which earned a TripAdvisor Travellers' Choice Certificate of Excellence in 2020. With its lively atmosphere and outstanding program, Tremblant has secured its place among the top 5 ski destinations in Canada, according to the 2021 Condé Nast Traveler Reader's Choice Awards — an honor that shines throughout the year. Whether visiting with family, as a couple, with friends, or in a group, Tremblant welcomes guests to 1,900 accommodation units across 13 hotels, close to 70 restaurants, shops, and a casino set in nature. About Brivia Group Brivia Group is an investment and real estate company with a growing portfolio of major projects in the Montreal metropolitan area, Greater Toronto, Vancouver, Quebec City, and other parts of Quebec region. Founded in 2000, Brivia Group has the expertise, track record, and business networks needed to complete bold projects such as 1 Square Phillips, Mansfield, YUL, QuinzeCent, and LB9, meeting the expectations of its diverse clients.
