Winnipeg's Exchange District | East/West | Development

[Urban recluse]

Originally Posted by Labroco

Well your friend appears to be a little sensitive if it warrants the comment by you...

The cost of conversion is high and they may take the position to wait for a commercial Tennant is better for them. Many property owners take the position put your money where your mouth is.

It's very easy for people with no financial stake to tell others what to do.

Your friend should not be so indignant but rather purchase a little home in Point Douglas to renovate. With that experience they may become a little thicker skinned and have a more credible voice to add to the discussion on the urban revival in the core...

I hear there are grants for that.

Oh? Who said she was upset? We laughed, not cried. Sitting on space you have not been able to rent out for years does not seem logical. I suspect they have heard this a lot hence the snarky response.

[drew]

Originally Posted by Labroco

Many property owners take the position put your money where your mouth is.

It's very easy for people with no financial stake to tell others what to do.

This particular property owner has held on to this building and all it's underused space despite many people offering to "put their money where their mouths are".

The interesting thing is that he has even reached out to developers to help him better develop and re-purpose his properties - but then nothing ever comes out of it. I suspect the idea that some actual money will need to spent up front kills any development prospects.

Just one of many difficult (I usual say delinquent) property owners in and around downtown who sit on buildings, waiting for a payday that is never going to come.

[h0twired]

Originally Posted by Urban recluse

Oh? Who said she was upset? We laughed, not cried. Sitting on space you have not been able to rent out for years does not seem logical. I suspect they have heard this a lot hence the snarky response.

They were making more than enough money from parking not to have to worry that much about some unused CRUs.

Obviously their plan worked out and now all of the units are occupied with successful businesses.

Shows what your friend knows.

[steveosnyder]

Originally Posted by h0twired

They were making more than enough money from parking not to have to worry that much about some unused CRUs.

Obviously their plan worked out and now all of the units are occupied with successful businesses.

Shows what your friend knows.

I think he's talking about the Reiss Furs building, not the Bedford Parkade. From what I remember, Bedford owns a few buildings in the West Exchange.

[drew]

Originally Posted by h0twired

They were making more than enough money from parking not to have to worry that much about some unused CRUs.

Obviously their plan worked out and now all of the units are occupied with successful businesses.

Shows what your friend knows.

Wasn't it a stipulation of the City to put the CRU's in that parkade? And to rebuild the historical facade?

[drew]

Originally Posted by steveosnyder

I think he's talking about the Reiss Furs building, not the Bedford Parkade. From what I remember, Bedford owns a few buildings in the West Exchange.

Correct. I was also referring to the Reiss Furs building, and his other holdings in the area.

[esquire]

^ Yeah, Reiss Furs was surprisingly empty for years, even after the Exchange started to take off in the 00s. I guess they were, like so many Winnipeg landlords, just waiting for the big fish to land at their doorstep.

[Urban recluse]

Originally Posted by h0twired

They were making more than enough money from parking not to have to worry that much about some unused CRUs.

Obviously their plan worked out and now all of the units are occupied with successful businesses.

Shows what your friend knows.

As others have mentioned, I was talking about the Bedford building. In terms of the parkade, was significant public funding not part of it? It also took a long time for those CRUs to be rented. That company is far from being a notable example of benevolence. As for all that money they are making from parking, government made that possible.

[bomberjet]

Here's a blurb on the parkade. $8M construction cost. Doesn't outline funding sources.

http://www.ft3.ca/projects/office/officeBedford.php

[Urban recluse]

I do remember hearing the city/CV making it possible.

[cllew]

Originally Posted by esquire

^ Yeah, Reiss Furs was surprisingly empty for years, even after the Exchange started to take off in the 00s. I guess they were, like so many Winnipeg landlords, just waiting for the big fish to land at their doorstep.

somebody was working on the second floor of the Reiss owned Bedford building starting in the spring of 2015. There was a dumpster being fed by a waste chute for a few weeks.

I wonder if the Reiss family feud may be somewhat of a factor in the lack of development of their buildings. If the court case is still winding its way through the system and the son wins, he may get more money as the properties appreciate if filled with paying tenants.

http://www.winnipegfreepress.com/loc...192212871.html

[Labroco]

Originally Posted by cllew

somebody was working on the second floor of the Reiss owned Bedford building starting in the spring of 2015. There was a dumpster being fed by a waste chute for a few weeks.

I wonder if the Reiss family feud may be somewhat of a factor in the lack of development of their buildings. If the court case is still winding its way through the system and the son wins, he may get more money as the properties appreciate if filled with paying tenants.

http://www.winnipegfreepress.com/loc...192212871.html

Ouch!

No one wins in that mess...

[BigG]

Plans for the North East Exchange from the open house held yesterday:

http://winnipeg.ca/publicworks/const...-28-BOARDS.pdf

[bomberjet]

^Thanks. I like how the City posts the boards a week or two in advance of the open house now. So you can think about it for a bit, before going down there to bitch. haha I mean give your opinions.

Overall I think the Cities doing a great job of enhancing the area. Makes the area that much more inviting with a fresh street scene.

[Cyro]

^^ Quite happy with the phased plan 2016-2017, particularily with Lilly, Jhon Hirsch this year and Pacific to follow.

[oftheMoon]

I spoke to them about James Ave being left out and of course it's contingent on "the parkade" being built which the City really wants to happen, but it's in the hands of the Province to make it happen.

The City has money set aside to do James as soon as the parkade gets rolling. It involves lots of water work infrastructure and streetscaping like elsewhere including the narrowing of the street. They do seem to see James as a key street because of it's connection to Stephen Juba park.

No indication of timeline. Overall, glad to see the interest and the ongoing development of the area.

[bomberjet]

I think some others may have said the parkade has some legs recently. But I may being dreaming. It's early and I'm tired today haha

[oftheMoon]

Originally Posted by bomberjet

I think some others may have said the parkade has some legs recently. But I may being dreaming. It's early and I'm tired today haha

Yeah, we've heard RFP coming again. I should stop whining about it and just be patient I suppose.

[Biff]

Originally Posted by oftheMoon

Yeah, we've heard RFP coming again. I should stop whining about it and just be patient I suppose.

It will have to wait until after Apr 20th now (election).....and survive the new government.

[esquire]

It's a nice plan but I'm kind of pessimistic about the upgrades for John Hirsch... if it keeps getting treated as a backlane with dumpsters, etc., then that's the character that it will maintain.

The other streets look spot on though, I'm glad that Lily will get an upgrade because it's sorely needed.