It was a busy day at council, but I was working on another project and then, later in the afternoon, ended up SkyTraining it out to Metrotown for yet more news breaking there: the province’s announcement that it is reviewing the governance, finances and jurisdiction of our two transportation agencies.
The timing of this review couldn’t be more significant. Both TransLink and BC Ferries have been under intense scrutiny for their management practices, fare increases, and service cuts. The provincial government’s decision to examine their operations comes amid growing public frustration with transportation costs and accessibility across the Lower Mainland and coastal communities.
TransLink, in particular, has faced criticism for its complex governance structure and perceived lack of accountability to local communities. The agency’s ability to raise taxes and fees without direct municipal oversight has been a contentious issue, especially as ridership costs continue to climb while service levels remain inconsistent.
Then, after getting the info on that, we ended up tagging on the new news that the most famous ferries of all in the fleet, well, formerly of the fleet, are being sold. And a news release from the shipyard workers says the rumoured price is $50 million — a bit more than the $19.5 million the Liberals sold them off for.
The PacifiCat saga represents one of the most expensive political embarrassments in BC history. Originally built in the late 1990s under the NDP government at a staggering cost of $460 million, these three aluminum catamarans were supposed to revolutionize coastal ferry service with their speed and capacity. Instead, they became symbols of government waste and poor planning.
The fast ferries’ problems were numerous: they created damaging wakes, couldn’t operate in rough weather, and had mechanical issues that plagued their brief service life. After less than two years of problematic operation, the incoming Liberal government in 2001 pulled them from service, calling them “floating monuments to NDP incompetence.”
The sale to Washington Marine Group in 2003 for just $19.5 million was seen as a fire sale, recovering barely four percent of their original cost. Now, six years later, Abu Dhabi Mar’s reported $50 million purchase suggests these vessels may finally have found their proper market in the calmer waters of the Persian Gulf.
For BC taxpayers, this sale represents a small measure of vindication – at least someone sees value in these controversial vessels, even if it took moving them halfway around the world to realize it.
That story is up on the website now.
I’ll catch up with the bale of council news tomorrow: the attempt to find a solution for the heritage density program; laneway housing; the industrial land/Cambie planning issue etc.
Thanks to all commenters today for the good discussion about prices to build a laneway house.
