Vancouver-based real estate developer I4 Property Group is facing insolvency on two of its projects, according to filings in the Supreme Court of British Columbia.

The company may not be particularly well-known, but was founded in 2002 by Myron Calof, who was formerly an Executive Vice President at Aquilini Investment Group in the late-90s and early-aughts.

The projects now facing insolvency are the Siena condominium project in Burnaby and the 8and8 townhouse project in New Westminster.

The Siena project, also known as Siena The Heights, was being developed at 4437 Hastings Street (4451 Hastings Street, legally), across the street from the Safeway near Willingdon Avenue, in the Burnaby Heights area of Burnaby. For the site, owned under I4PG Hastings Street Inc., the developer was planning a five-storey mixed-use project with 38 condos and approximately 8,500 sq. ft of retail space.

In November, Desjardins Financial Security Life Assurance Company, also known as Desjardins Group, filed a Petition to the Court seeking to appoint a Receiver over the project.

The application was pertaining to a non-revolving loan in the maximum amount of $29,200,000, a non-revolving standby letter of credit facility in the maximum amount of $2,500,000, and a revolving line of credit in the maximum amount of $500,000. The two sides entered into all of the credit agreements in March and April 2022, with I4 Property Group Inc. and Myron Calof serving as the guarantor of the loans.

The developer defaulted on the loans a bit over a year later, with Desjardins delivering a notice of default on September 12, 2023. According to Desjardins, those defaults included a failure to keep the property free of liens, failure to fund cost overruns, and the ceasing of construction, on top of failure to pay the owed amount.

The two sides then entered into a forbearance agreement, which was extended three times before finally expiring on August 30, 2024. The developer was unable to provide a solution to complete the Siena project, forcing Desjdardins to issue a formal demand for payment and then initiate the receivership.

As of October 24, Desjardins was owed $14,546,899.56, with interest accruing at a daily rate of $2,750.98.

The receivership application was granted by the Supreme Court and came into effect on February 14. In a notice dated February 21, the Receiver noted that in addition to the first-ranking charge held by Desjardins, I4 Property Group also owes an uncertain amount to Travelers Insurance Company of Canada pertaining to deposit protection insurance, as well as $700,000 to Longthorn Holdings Ltd. pertaining to a third-ranking mortgage. The Receiver said that nine liens registered on the property also amount to $2,477,427, bringing the total sum of debt on the Siena project to at least $17.7 million before interest.

Last month, Calof of I4 Property Group told Burnaby Now that all of the retail units and 28 of the residential units have been sold, and that he expects the project will garner interest from other developers as it has already progressed to excavation.

A rendering of the 8and8 project planned for 802-806 Eight Street and 809 Eight Avenue in New West. / Grimwood Architecture, I4 Property Group

In New West, the 8and8 townhouse project was being planned at 802, 806 Eight Street, and 809 Eight Avenue, at the intersection of Eight Street and Eight Avenue across the street from Moody Park. For the site, I4 Property Group had proposed an 18-unit townhouse complex, according to the development application.

The three parcels are owned under 1208242 BC Ltd. and beneficially owned by I4 Property Group through 8th Street Limited Partnership, the general partner of which is I4PG 8th Street Development Inc.

The foreclosure against the project was initiated back in January 2024 by Blueshore Financial Credit Union, which has since merged with Beem Credit Union.

The application was pertaining to a first-ranking loan agreement the two sides entered into in February 2020. The details of the default were not outlined, but the Supreme Court granted an order nisi of foreclosure on March 13 that confirmed the outstanding debt at $2,472,595.69, with interest accruing at a daily rate of $613.04.

The order nisi also set the redemption date — the date by which the debtor can pay the outstanding amount to halt the foreclosure — at August 15. That day came and passed, the debtor was unable to redeem the mortgage, and Blueshore was granted conduct of sale on August 19. The property has since been listed by Manjit Claire of RE/MAX with an asking price of $3,649,000.

According to the company's LinkedIn page, "I4 Property Group and its predecessors have acquired and developed more than 500,000 square feet of office, retail and residential properties, including Garibaldi Village Shopping Center, Galleries at Garibaldi Springs, and Studio SQ in Squamish BC; Studio ED, Studio Off Whyte, and Studio On The Hill in Edmonton AB; and 700 Marine Drive in North Vancouver."

Other projects listed on the company's website include a completed four-storey mixed use rental building called Premiere at 406 E Columbia Street in New Westminster and a townhouse project called Eight at 3155 Canfield Crescent in North Vancouver.

Premiere was sold in June 2024 for $29,500,000 to Plan A Real Estate Services in a deal brokered by Goodman Commercial and the property is now owned under Plan A - 408 East Columbia Nominee Ltd. As for Eight in North Vancouver, the property remains owned by I4 Property Group under Canfield Crescent Development Inc. and does not appear to be facing insolvency.

BURNABY, B.C. – It was another day of personal bests for the UBC Thunderbirds Saturday, competing at the Simon Fraser High Performance meet.

The sun was shining both on the track up atop Burnaby Mountain as well as at Coquitlam's Percy Perry Stadium where the throwing events were held, both venues providing for pristine conditions.

"While the number of athletes competing for UBC this weekend was limited, the results were not!" said UBC head coach, Laurier Primeau. "Sarah Pimblett moved up the National rankings with a lifetime best in high jump and we saw several season and lifetime bests in the 100 metres."

Clearing 1.70 metres, Pimblett's new lifetime best height in women's high jump now has her sharing a piece of the number four NAIA ranking.

Senior T-Bird Hanna Sobkowich put up a season's best time in the women's 100 metres, crossing the finish line in 11.71 to claim first place. Just two one-hundredths off her lifetime best, the Surrey, B.C. product met NAIA 'A' Standard for the first time this season and now holds the eighth ranked time so far this season.

Sobkowich also won the 200 metre dash Saturday, her 24.50 leading a field of 29 competitors. Freshman Debbie Suleman managed a new personal best for a fourth place finish as did Tanya Dhanoa who claimed sixth.

Yoosuf Hanafi Bacha shattered his previous personal best, finishing second in the men's 100 with a 10.73. Tony Ganz and Sam McGee finished fourth and fifth, respectively, both also producing lifetime best times up on Burnaby mountain.

Hanafi Bacha also set a new PB in the men's 200 metres, his 22.15 good for third place.

"I'm really happy for Yoosuf and Tony who have worked so hard and deserved the breakthroughs they had," Primeau added.

The Thunderbirds are now gearing up for next weekend's Battle of Sparta meet hosted by Trinity Western in Langley where a much larger contingent of the blue and gold will be on hand.

FULL RESULTS

She's majestic, alert, and sleek.

She's Caprice the Hawk and has a very important job at the City of Burnaby.

Caprice — who is a Harris's hawk — guards the Burnaby eco-centre, where recycling and compost are periodically dropped off throughout the week.

The centre happens to be near a popular roosting spot, where thousands of crows from across Metro Vancouver gather every evening—and are naturally attracted to the compost.

It's Caprice's job to keep these birds at bay.

"We would be inundated with dive-bombing birds right now if we did not have the hawk here," said Zac Der, an environmental services officer with the city.

Meet the hawk who works for the City of Burnaby

1 month ago

Duration 1:36

Caprice the Hawk guards the Burnaby eco centre from crows and gulls attracted by compost scraps. As Michelle Gomez reports, Caprice's presence alone keeps the birds away.

Burnaby is not the first city to use birds to ward off birds: other cities, including Coquitlam, Toronto and Ottawa, have used birds of prey to guard landfills.

Der said the city started hiring hawks to guard the station over a decade ago after it began collecting compost.

He said community members had complained about the birds making a mess, dropping compost items and droppings in large amounts around the neighbourhood.

The goal of the hawk is not to prey on the local birds but rather to keep them from descending on the scraps.

As a natural predator of crows and other smaller birds like gulls, the hawks' presence alone keeps them away.

"Even if the hawk is just resting or is just present, it is enough that you'll see virtually no birds," Der said.

Laura Lankford, who works for Falcon Bird Control, is Caprice's handler and friend.

"She is fierce; she's a warrioress and she's a sweetheart," said Lankford as Caprice perched on her arm.

Under Lankford's supervision, Caprice patrols the centre during the day from Monday to Thursday. That is when compost is at the transfer station where it is dropped off and later picked up to be taken to its next destination.

"It's a free buffet, and [the crows] love it," said Lankford.

Caprice spends her days perched around the lot and flying overhead but Lankford says she always comes back in the end.

"When I fly her around, that makes them really nervous," said Lankford.

And Caprice's payment?

Plenty of snacks and pets.

ABOUT THE AUTHOR

Michelle Gomez is a writer and reporter at CBC Vancouver. You can contact her at michelle.gomez@cbc.ca.

The new Rosemary Brown Recreation Centre located in Burnaby, British Columbia, designed by interdisciplinary firm hcma architecture + design, aims to priotitize the public experience and offers a high-performance ice arena alongside a vibrant, accessible, and inclusive community hub.

The project, which aims to blend best practices for superior ice quality with the use of warm wood, natural light, and a transparent, open layout, creates a rich, dynamic experience for visitors both on and off the ice.

The $49.5 million facility is 8,547 square meters/91,999 square feet and its state-of-the-art design rejects the outdated model of cold, windowless, steel-trussed ice arenas, dedicated solely to sport.

The facility, was named in honour of Rosemary Brown, a trailblazing Canadian advocate for social justice and equality. As a result, the recreation centre embodies her legacy, standing as a place for all Burnaby residents to gather, play, and compete.

Without impacting ice quality, a distinctive structural approach floods the rinks with north-facing light while the exposed mass timber roof creates an inviting space for both players and spectators. This approach, which is considered unconventional, required a hybrid steel-timber roof system, using wood as an essential component due to its geometric flexibility, ease of construction, and inviting aesthetic.

Wood plays an integral role in the character of the centre and aims to symbolize warmth and durability, while also ensuring quick, efficient assembly on the compact site. With a, the structure is both striking and technically proficient.

The flexibility of the hybrid steel-timber roof system allowed a complex geometry that made north-facing clerestories that provide an abundance of natural light possible.

Glulams, which serve as both beams and vertical columns, support the structure in the lobby and contribute to its inviting ambience visible from both the inside and outside. The use of nail-laminated timber (NLT) for the lobby’s decking system allows for superior acoustic integration, and enhances the overall experience and finish of the space.

The facility is nestled in Burnaby’s emerging Southgate community. The site’s tight footprint led to a non-traditional arrangement of its two NHL-sized ice sheets: an L-shape with a central lobby located at their meeting point.

This arrangement allows for an improved interface and openness between the lobby and the ice sheets, as well as a friendly elevation to the street, community, and beyond.

The recreation centre provides multipurpose rooms and spaces within the lobby for a range of activities beyond ice sports. These include pickleball, Pilates and playoff watch parties.

Second-floor warm-side viewing galleries offer guests comfortable, accessible viewing, while informal areas directly behind allow children to play. Inclusive design extends to every aspect of the facility, with braille and tactile signage created by hcma’s communication design team.

Now open to the public, the centre is set to be an essential fixture in Burnaby’s Southgate community.

“Rosemary Brown Recreation Centre is more than an arena; it’s a space designed to foster community through recreation and high-performance sport. The Centre’s ambition is to become an essential fixture in Burnaby’s Southgate community, supporting the next generation of athletes, weekend warriors, and recreation enthusiasts alike,” said Paul Fast, principal, hcma architecture + design.

As part of the once-a-decade riding redistribution process, B.C. has gained a riding for the 2025 federal election and seen many political boundaries reshaped.

The new political map is likely to change the political calculations for federal parties, with the additional riding located in the B.C. Interior, an area historically popular with the Conservatives.

And a University of B.C. political scientist says the redrawing of political boundaries in Metro Vancouver could add to the challenges faced by the federal NDP and its leader Jagmeet Singh, who has to contest in a significantly redrawn riding.

Stewart Prest says riding boundaries matter a lot in Canada's first-past-the-post electoral system, where each geographically-defined electoral district elects an MP that residents can identify.

"When you create a new riding, it creates a new seat," he said. "When you move a boundary several blocks, it can make a difference in a close riding between victory and defeat."

The riding redistribution is part of a process that is based on Canada's population growth, with riding boundaries redrawn to ensure each seat has roughly the same amount of voters across the country. Voters can search for their electoral district by postal code on the Elections Canada website.

"Take a moment to find out what riding you're in," Prest urged. "It may not be the one you're used to, but it is worth the time and to see who is running to represent you. And this is an election that matters."

Here are some of the ways that the redrawn ridings could influence the upcoming federal election.

Questions for NDP in Burnaby

The federal NDP, which is flagging in the polls, has three of its Metro Vancouver seats located in the Burnaby and Tri-Cities area — a region that has seen some significant changes with the redrawing of political boundaries.

Of particular significance is NDP Leader Jagmeet Singh, who won the last two elections from Burnaby South, but is now contesting from the Burnaby Central seat.

Burnaby South has been broken up, with the southern portion of it in Vancouver Fraserview-South Burnaby and Burnaby Central taking portions of what was the Burnaby North-Seymour riding.

Prest says the NDP faces an uphill battle to even hold onto historical safe seats like Vancouver East in the current political climate, and the redrawing adds new wrinkles.

"Mr. Singh, well, he has built some political machine in Burnaby," he said. "He is having to somewhat shift that focus given ... Burnaby South has been redistricted as a central Burnaby riding.

"That means Mr. Singh has an additional local challenge in addition to his national challenge."

Redrawn Vancouver ridings

In Metro Vancouver, the Liberals have a high-profile candidate running in former Vancouver mayor Gregor Robertson.

Robertson will contest the newly redrawn riding of Vancouver Fraserview—South Burnaby, which features much of the old riding of Vancouver South and also includes an adjoining area in Burnaby.

Prest says Robertson will not have deep linkages to the Burnaby portion of the riding, which means he'll have to convince voters there that he's the right choice.

"I think it suggests an area where he's going to have to work in a different way to build up the same kind of rapport that he enjoys with Vancouverites," he said.

New riding could benefit Tories

In the Interior, where a new seat for Vernon—Lake Country—Monashee has been added and numerous district boundaries have been reshaped in response to population growth, Prest says the Tories are most likely to benefit.

"It is part of the province where Conservatives, both provincial and federal, do very well," the political scientist said.

"I would say on its face, it does give the Conservatives a chance to pick up the new seat, and perhaps even to pick up a couple of other seats."

Prest notes, however, that while the Tories may benefit in the Interior, the redrawn ridings in the Lower Mainland will be a different kind of battle — as parties try to present a form of change that also incorporates high levels of Canadian patriotism.

"Those other districts that are in the Lower Mainland, where the ridings are more marked by a kind of urban demographic and an urban sensibility, there is going to be, I think, a harder test for [the Conservatives]," he said.