D4
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BREAKING NEWS: VANCOUVERSUN.COM | Thursday, February 9, 2012
trade talk
Pizza entrepreneur goes for the upper crust
Owner cuts deal with Urban Cultivator to have freshest herbs available for his pies — and his soon-to-open delicatessen
Colin and Dale Bosa see the
family firm’s 43-floor Sovereign
tower beginning to rise
alongside their Burnaby head
office building.
Dragons’ Den panelist Arlene
Dickinson traded $400,000
in marketing contra for 20 per
cent of Surrey-based Urban
Cultivator Inc.
10am
& 7 pm
16179 Blundell Rd. – Richmond, B.C.
10 am
3 LATHES; 2 MILLS; GAIRU 100 TON & Mubea 70 ton ironworkers; cold saw; 2 forklifts; support equipment, tooling etc.
www.adesarichmmond,ca
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Saturday, Feb. 11th
Wednesday, Feb. 22nd
9 am
Now Open In Kamloops 1-855-534-0901
6780 Glover Rd., Langley 604-534-0901
Live Online Bidding! www.canamauctions.com
Wednesday, Feb. 15th
3 pm
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Saturday, Feb. 18th
604-244-9350
KWIK AUCTIONS
Preview is 9 to 6, Friday, Feb. 17th 2012
11am
11 am
Over $500 in New & Used
Restaurant Equipment Auction
Call 604-299-4517 7305 Meadow Ave.
www.kwikauctions.com
Entire contents of
The SAMBA BRAZILIAN STEAKHOUSE.
On-Site Location: 1122 Alberni St. Vancouver, B.C.
www.lovesauctions.com
Tuesday, Feb. 28th
604-244-9350
JOINER SALES CORP
RECEIVERSHIP AUCTION OF
ROBCO CABINETS LTD.
Antiques, Collectibles, Estates,
Fine Furnishings & Jewellery AUCTION
2720 No. 5 Road, Richmond, B.C.
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Giant On-Site 200+ Seat Restaurant Auction
80-100 CARS, LIGHT TRUCKS & RV’S
INDUSTRIAL CONSTRUCTION EQUIP.
FORK LIFTS, FARM & TURF EQUIP. AND MUCH MORE!
1465 Rupert Street, North Vancouver, BC
PH. 604-308-8040 www.joinersales.com
MAJOR KITCHEN CABINET MFR.
- LATE MODEL EQUIPMENT!
#33, 27429 Township Rd 374, Red Deer, Alberta
PH. 604-308-8040 www.joinersales.com
For more details See the Classified Section #375 of the Saturday Sun.
Also look for the AUCTION DIRECTORY in the NEWS Section of
Sunday’s Province.
10 am
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call Roz at 604-605-2771
VAN01083724_1_1
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200 Vehicles to choose from
Airlines
WestJet plans to launch
a regional carrier
By Scott Deveau
WestJet Airlines Ltd. said
Wednesday it would push
ahead with its plans to launch a
regional carrier as early as next
year after winning overwhelming support for the plan from
its employees.
“The opportunity presented to
WestJetters has been very well
received and I thank them for
their input and consideration
in this important matter,” said,
WestJet CEO Gregg Saretsky.
The company announced its
plans to launch a short-haul
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CLOSE-OUT AUCTION OF INDUSTRIAL
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malcolmparry@shaw.ca
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Tuesday, Feb. 21st
Westbank Projects Corp.
Surrey is already a going
concern for many developers.
Having acquired a site for two
towers at 104 Avenue and University Drive in 2011, Bosa will
make its entry to that city by
marketing one of them this fall
and continue negotiating for
four more.
Outside the developmentconstruction game, Bosa Properties partnered with Sam
Belzberg’s Gibralt Capital
firm a year ago to found Second City Capital Partners II.
The private equity firm specializes in distressed realestate income assets. A second round of financing this
spring should raise its initial
$65 million capital to $100
million. Having acquired two
office buildings, one retail centre and an apartment building,
“We definitely see an opportunity in the U.S. to buy assets at
well below value,” Colin Bosa
said.
Meanwhile, Bosa Properties and BlueSky Properties
have both established charitable foundations endowed
by $1,000 donated from each
unit sold. They got a feeling for
doing so from an appearance by
Black Eyed Peas member William Adams, a.k.a. will.i.am,
on the Oprah Winfrey Show.
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Open Wednesday-Friday
Phone: 604-501-8216
8307 - 130th Street, Surrey, B.C.
BC GOVERNMENT
City of Kelowna Vehicle Auction. 15 Various
Vehicles and Heavy Equuipment, Dump Trucks,
Plow Trucks, Pickups, Cars, Street Sweeper, More.
On Site Viewing on Feb. 14th ONLY.
Read each auction listing for specific contact and viewing info.
golf course, where father of two
Colin and papa to four Dale
have shot so-so 82s.
More importantly for the
$300-million-a-year overall
enterprise’s fortunes, there
are sightlines to present-day
projects. In New Westminster,
BlueSky’s 118-unit (112 sold)
Viceroy is under construction.
To the northeast, ground will be
broken by fall for the 190-unit
Evergreen, the fourth of Bosa
Properties’ four towers near
Coquitlam Centre mall. On a
clear day, you might almost see
the 177-unit Promontory tower
that broke ground beside Victoria’s harbour last month.
At Quebec and First in Vancouver, selling of the $100-million Lido tower’s 183 units has
begun. Downtown, where it
completed the $180-million
Jameson House tower that
Tony, John and Tom Pappajohn started, the firm is making its rental-project debut with
BlueSky’s $25-million, 106unit The Standard at Granville
and Davie. Bosa Properties’
same-value but still-unnamed
90-unit building at Main and
Terminal will also go ahead
under the city’s Short Term
Incentive for Rental (STIR)
program. More conventionally
the firm has a Main and Georgia site for a 150-unit tower that
will face a 17-floor, mixed-use
development by Ian Gillespie’s
REVERSE VERSION
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Mon. Feb. 20th
Every Tuesday & Saturday
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202 residential units sold in
six hours a year ago. New for
the firm, though, it will retain
the remaining 168 rooms and
become a hotel owner when the
facility is operated by the Element by Westin chain in 2014.
The Sovereign will intrude
little on the panoramic view
from the 18th floor of Bosabuilt Central Park Place.
Father Robert, who founded
Bosa Properties’ parent enterprise, Robert Bosa Co., a halfcentury ago, also has his office
there. So does brother Dale,
40, who is president of another
Bosa real-estate development
company, BlueSky Properties.
From the office, he and Colin
can see their boyhood home
at Deer Lake, from which they
hurried to do sweeping and
gofer chores on Bosa construction sites. Further away is West
Vancouver’s “Bosamont” district, where they and other clan
members live, and the Capilano
B&W VERSION
VANSAE13031_1_1
Tarren Wolfe’s Urban Cultivator firm will grow hydroponic herbs for Nicli Antica pizzeria in the deli
that owner Bill McCaig is building next door.
COLOUR VERSION
SPOT:
Pantone 209 C
CMYK: 0/100/34/51
RGB:
128/31/54
HEX #: 8B2942
wholesalers, retailers and other
restaurants. One such eatery
could belong to McCaig, who is
“sniffing around” for groundfloor premises in The Flats,
a 28-condo project Roche is
developing at Georgia and
Main Street.
Wolfe said that a single person can handle the daily planting and harvesting for a 20-unit
installation “that would make
14-grand a month.”
Other hydroponically grown
plants can generate higher revenues, of course, and Urban
Cultivator Inc. and its corporate parent, B.C. Northern
Lights Inc., openly target the
medical-marijuana industry.
That matter was discussed during the Dragons’ Den taping,
Wolfe said, but edited from the
aired version.
As for his success with simple but nevertheless addictive
Neapolitan pizzas, McCaig said:
“You can elevate any kind of
cuisine to the highest. I’ve never
said to anyone, ‘Let’s go out and
do something mediocre.’ ”
•
HOW BOSA GROWS:
Bosa Properties CEO Colin
Bosa, 36, need only look from
his office window to see construction cranes swinging on
the 43-floor, $180-million
Sovereign tower that will be
Burnaby’s tallest building. Its
travel
B
USINESS LUNCH: Bill
McCaig ordered Diavola,
Bianca and Margherita di
Bufala pizzas at his ever-busy
Nicli Antica. After 90 seconds
in the Cordova-off-Carrall pizzeria’s wood-fired brick oven,
the bubbly, crisp-crusted $16
and $17 dishes arrived redolent
with the scents of chili and rosemary oil, thyme, caramelized
onion, mozzarella, Gorgonzola,
soppressata salami and lardon
— the aptly named bacon that
is smoked when the oven cools
from 900F to 300F overnight.
McCaig is a big bruiser. But
the chow wasn’t all for him.
He also had Urban Cultivator
Inc. principal Tarren Wolfe
and minority partner Myles
Omand at his table. Those
two and third partner Davin
MacGregor appeared on a
recent episode of the Dragons’ Den TV series, during
which Venture Communications principal Arlene Dickinson offered $400,000 worth
of marketing contra for a onefifth share in their Surreybased firm.
Taped in May 2011, the show
aired Jan. 25. According to
Wolfe, domestic and global
inquiries promptly flooded in
regarding investment or franchise opportunities. McCaig is
keener to see the three busy in
Nicli Antica’s adjacent basement, which was itself flooded
when he paid $1.61 million for
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MALCOLM
PARRY
the century-old building in
2010.
The price might have been
higher otherwise, said McCaig,
who was relieved when the culprit turned out to be a nearby
leaking water main.
“The city repaired it,” McCaig
said, “and the basement has
been dry as a bone ever since.”
With that problem dried up,
McCaig spent $800,000 building and equipping his Naplesstyled restaurant in one half of
the building, and had its culinary authenticity designated by
the Associazione Verace Pizza
Napoletana. Later, he retained
Brian Roche’s area-active
Panther Constructors firm to
undertake a $700,000 renovation of the building’s mirrormatched east side. By May, it
should house a sit-in and takeout deli with its own kitchen
as well as a large, curved-glass
display case, serving counter,
pasta extruder, drying room,
smoker and other facilities.
That’s where Wolfe, Omand
and MacGregor come in. They’ll
turn the once-waterlogged
basement into an irrigated
farm with stair access for deli
customers. McCaig originally
figured that his building’s roof
would be dandy for growing
pizza-related herbs. But contractors he approached wanted
elevator access, and winter
weather would have nixed his
demand for right-now freshness. So he made a deal with
Wolfe to install 20 of Urban
Cultivator’s hydroponic units
downstairs in trade for rent.
Four of them will furnish basil,
arugula and suchlike to the
restaurant and deli upstairs.
The remainder will supply
carrier last month, but said it
would seek support for the plan
from its employees. WestJet
said its employees voted 91 per
cent in favour of the plan to use
40 turboprop aircraft to fly to
smaller destinations its current
fleet cannot fly to economically.
WestJet also announced it was
increasing its quarterly dividend
by one cent a share, to six cents,
and authorized a plan to purchase up to five per cent of its
outstanding shares in a normal
course issuer bid between Feb.
10, 2012 and Feb. 9, 2013.
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