Rainbow gets green light, again 

Thursday’s resolution an ‘acceptable compromise,’ says developer

click to enlarge Ready to Build The latest site plan for the Rainbow Development, with Phase I getting underway this year
  • Ready to Build The latest site plan for the Rainbow Development, with Phase I getting underway this year

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“You do not need to start a witch hunt and look for who to blame, and it is my responsibility to present things to council in a timely fashion,” said MacPherson.

He also rehashed the history of Rainbow, going back as far as 2005 when the memorandum of understanding was established.

At that time the agreement stated that if the properties on Rainbow could not be sold, the RMOW would buy them back at a price of $110,000 for a single family home and $65,000 for a duplex, said MacPherson.

That agreement was dropped in 2006 when “Rainbow was taking longer than we all expected,” he said, and the RMOW became apprehensive about buying back units on a project behind schedule.

“Rainbow was amenable to that being removed,” said MacPherson. “And as part of that discussion, Rainbow said, ‘Our concern has always been if the waitlist is exhausted, we need to know there is a purchaser out there of these lots because Rainbow is certainly counting on that.’”

Rainbow then introduced the secondary qualified buyer clause. Municipal staff negotiated with the developers for several months to make sure the clause would only allow Whistler residents to buy property and not allow the homes to go onto the open market. The controversial secondary buyer clause, which came to council on June 16, was finalized at the end of May.

Chiasson said there are a couple more pieces of legislation that the municipality has to approve before the Rainbow development can be finalized, such as the subdivision approval.

“Now we are just moving forward, and we are on schedule to start construction Aug. 1 st , which is exciting,” said Chiasson.

She added that 70 interested buyers toured the Rainbow site on Sunday and “loved it.”

“They realize it is a gorgeous site. Right now, it looks like the moon, but the views are spectacular and I think now they (interested buyers) are going to start seeing themselves there,” she said.

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