ivanthegreat 1,123 Report post Posted March 4, 2019 On 2/13/2015 at 3:34 PM, ivanthegreat said: As a passionate trotting fan I can't believe this is anything other than an urban land grab by property developers ( not that they are invisible ). After all where else could you find another development site in such a prime part of the city ? Despite the promises will the track go back to the showgrounds or Waikaraka park between stock car racing.........go on convince me. By the time we realise we have been duped , those responsible will be long gone with their golden parachute's. One down 4 to go Quote Share this post Link to post Share on other sites More sharing options...
thrillsnspills 36 Report post Posted March 4, 2019 Scooby .. What happens to investors.. well you get your money back plus interest Now imagine and yes I cant see it happening but worse case if everyone pulled out bloody hell it would sink further and faster than the titanic. Quote Share this post Link to post Share on other sites More sharing options...
Newmarket RC 209 Report post Posted March 4, 2019 2 hours ago, scooby3051 said: So what happens to all the investors???How could this have ever happened??? Cant say 100% what is going to happen to investors but leaving people who are not 100% savy in property development to do this project might not have been the smartest thing IMHO. Even the best can easily come unstuck . There is mention in some circles that there were some foundation issues that may have needed to be addressed from a compliance point of view. I suppose its a watch this space type of scenario from here on in. Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,831 Report post Posted March 5, 2019 4 hours ago, Newmarket RC said: One has to wonder if there was a farewell payout or a PG lodged.? Not unusual in many CEO departures these days Given the legal situation NM, and the possibility of multi million dollar payouts...you wouldn't think so, but anything possible these days. Quote Share this post Link to post Share on other sites More sharing options...
Newmarket RC 209 Report post Posted March 5, 2019 5 minutes ago, Ohokaman said: Given the legal situation NM, and the possibility of multi million dollar payouts...you wouldn't think so, but anything possible these days. Thats why i said it is a watch and see for now Ohokaman. Its a real mess though from the outside looking in IMHO Hows that CHCH airport hotel coming along, i heard their were some issues with it as well. Quote Share this post Link to post Share on other sites More sharing options...
Patiti 274 Report post Posted March 5, 2019 Is that Rod Croon from the NZRB. Interesting................ Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,831 Report post Posted March 5, 2019 32 minutes ago, Newmarket RC said: Thats why i said it is a watch and see for now Ohokaman. Its a real mess though from the outside looking in IMHO Hows that CHCH airport hotel coming along, i heard their were some issues with it as well. Yep...should have been opened by now..steel problems there too ( NZ this time ) but thankfully sorted before installation. They are still hoping to open before year end.....but it's a "watch and see" there too...... Quote Share this post Link to post Share on other sites More sharing options...
Fartoomuch 1,376 Report post Posted March 5, 2019 4 minutes ago, Ohokaman said: Yep...should have been opened by now..steel problems there too ( NZ this time ) but thankfully sorted before installation. They are still hoping to open before year end.....but it's a "watch and see" there too...... So it's way late in terms of completion as well. I heard there were lots of issues with it. Quote Share this post Link to post Share on other sites More sharing options...
eljay 1,719 Report post Posted March 5, 2019 I suppose there will be a "golden handshake" - usually is in business circles these days. Quote Share this post Link to post Share on other sites More sharing options...
chevy86 2,704 Report post Posted March 5, 2019 Judging by the photo, Dowding's apartment looks finished! Quote Share this post Link to post Share on other sites More sharing options...
scooby3051 10,878 Report post Posted March 5, 2019 But how were they able to even start building without sign off on the foundations...that should never have been possible??/ Quote Share this post Link to post Share on other sites More sharing options...
Fartoomuch 1,376 Report post Posted March 5, 2019 50 minutes ago, scooby3051 said: But how were they able to even start building without sign off on the foundations...that should never have been possible??/ That's the multi million dollar question if its correct. The whole project looks to be a shambles based on the press reports. scooby3051 1 Quote Share this post Link to post Share on other sites More sharing options...
Blue 1,095 Report post Posted March 5, 2019 1 hour ago, Fartoomuch said: That's the multi million dollar question if its correct. The whole project looks to be a shambles based on the press reports. There have been problems but do you really believe the press reports? I mean REALLY ???? The press is first and foremost about sensation. Anything to do with the facts comes a poor second. Quote Share this post Link to post Share on other sites More sharing options...
Newmarket RC 209 Report post Posted March 5, 2019 10 minutes ago, Blue said: There have been problems but do you really believe the press reports? I mean REALLY ???? The press is first and foremost about sensation. Anything to do with the facts comes a poor second. Whilst you might be right Blue im picking the reports are actually under reporting this whole issue. Lets wait and see shall we. Patiti 1 Quote Share this post Link to post Share on other sites More sharing options...
Rusty 575 Report post Posted March 5, 2019 Would have required to have uplifted a building consent (and likely also a resource consent) prior to the commencement of the work. Fartoomuch 1 Quote Share this post Link to post Share on other sites More sharing options...
chevy86 2,704 Report post Posted March 5, 2019 2 hours ago, Blue said: There have been problems but do you really believe the press reports? I mean REALLY ???? The press is first and foremost about sensation. Anything to do with the facts comes a poor second. Leaving the pathetic, biased press out of it Blue, the lack of progress surely speaks for itself. Wouldn't happen with the Waiparera Trust (John Tamihere as mayor) in charge!! I'm picking plenty will bail out as heaps of apartments are coming on stream in Auckland and there is also a bit of a price stagnation. No guarantee that this toxic project will ever be completed and any new contractors will be wanting price escalations I suspect. Besides would YOU want ATC having anything to do with a lease/body corporate after their performance to date? Quote Share this post Link to post Share on other sites More sharing options...
slam dunk 1,317 Report post Posted March 5, 2019 7 hours ago, Patiti said: Is that Rod Croon from the NZRB. Interesting................ Presume so. The Harness rep on the Board who got sucked in by the sports members on the board to go with the OpenBet/PaddyPower disaster. Quote Share this post Link to post Share on other sites More sharing options...
frankie 119 Report post Posted March 5, 2019 Chevy I understand the new construction company what is completing the stalled first stage couldn’t agree a price with the ATC and are now working for ATC on a day to day to day basis. The ATC is now the running the project. This method is going to cost the club big time. Quote Share this post Link to post Share on other sites More sharing options...