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Discussion in 'General Discussion' started by Camelia, Dec 21, 2022.


What do you think ? Was Westbank and his employee clear of any wrong doing ? Do you find peculiar t

  1. YES

    0 vote(s)
  2. NO

    0 vote(s)
  1. Camelia

    Camelia Guest

    Do you think WESTBANK, one of the biggest, if not the bigger, real estate developer in Vancouver would tamper with the sale of a very attractively located building, acting through an employee infiltrated in the building strata council to have the building sold at almost half price to a potential future partner in developing the site ?

    What do you think about this facts ?
    An owner of the aforementioned building is hired two years ago by Westbank and is working currently as a project development manager within the company. Soon after he bought his apartment he joined the strata council. I do not know if he knew that the building was put on the market few years before he bought his unit. Last year the council had an offer to sell to a real estate company that owns the land underneath the building and the airspace above it. A reputable brokers firm evaluated the building at $120 millions, however the offer was for half the price. The most interested council member to sell at this price was the Westbank employee, he was very pushy, he went to his head of finance office to get his own evaluation, he used his company evaluation to justify to the other council members that the offer is fair, he created powerful alliances in the council by helping erase the president debts to the strata, he helped one non-owner to join the council knowing that he will go along with his plans.
    Luckily the owners rejected the offer.
    However he is still in the council now promoted to the vice-president position. One council member thought he was in a conflict of interest because he acted suspiciously and should not be in the council. However due to his alliances that he forged in the council and smear campaign he launched against his accuser he saved his spot in the council and the accuser pushed out from the council.
    I was very interested in the matter as I have financial interest in the building so I investigated further: I sent an email to IAN GILLEPSIE and told him about his employee's actions and asked if he has any knowledge about his acts and if not, to distance himself from him by making a statement that Westank had no knowledge and no interest in the building sale to a third party at that low ball price. While the employee was contacted within an hour from the CEO having received my email, I never got any response even though I contacted him on Sept 13 th. I was threatened with a law suit by the employee and I assume his company thought that this will suffice, the matter will be closed and they would not have to give a uncomfortable answer.

    The law however requires that each email is answered within 30 days.

    What do you think ? Was Westbank and his employee clear of any wrong doing ? Do you find peculiar the pushing to sell at half price, before the big rezoning plans that will be implemented in downtown through the Vancouver 2050 long term strategy housing plan ?

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