Geography Reference
In-Depth Information
Figure 5.2
Major development projects and downtown neighbourhoods
Hutchison Whampoa in market capitalization (Olds 2001).
11
This project
envisaged 2240 residential units, mainly in condominium towers, with addi-
tional office, hotel and theatre development (Smith 1995). Marathon
Realty's property assets were bought in 1996 in a complex deal by the
large Toronto-based company, Oxford Properties Group, itself recently
under majority ownership by Burcon International Developments, owned
by Hong Kong investors and linked with Concord Pacific through a land
for shares exchange (Craig 1996; Constantineau 1996a). Concord's presi-
dent, Terry Hui, would become president of Burcon, bringing together
Concord's residential experience with Burcon's extensive office and retail
holdings across Canada acquired through Oxford. 'Combining them just
creates a lot of synergy,' explained Hui (Constantineau 1996a). Control of
