Regina | Capital Pointe | 29F | 11F | 91M | ?M | Cancelled

[thefourthtower]

`

[Goldenant]

Originally Posted by thefourthtower

Great news we want to share with all of our purchasers at the earliest opportunity!



Construction is about to get underway!

Tomorrow morning at 9:00am (Friday, November 16th) our project development team is making an announcement to the local media that construction on the Capital Pointe project is about to get started.

I really hope this is true...dont know if I can take much more. What a fabulous change to Regina's downtown this will be.

[Twrlvr]

We all know they're good at making announcements. Maybe it's "about to get started" ...............in a few months. (again) Anyway, I'll be listening, and hanging on to my dwindling hope.

[skthunder77]

I hope this is true because it would be good for downtown but....have they acquired a building permit again? Could this be an announcement that the SaskPower work is starting? If so...not so big an announcement. Again, though, I really hope this thing gets built.

[thefourthtower]

`

[prairieguy]

thefourthtower....are you directly related to this project, or just have a source...just curious, as you phrase your post in such a way that makes it sound like you are definitely directly involved.

Probably like the majority of members on here, I am hopeful but still skeptical

[Dan0myte]

"Major" announcement coming this morning at 9

http://www.newstalk980.com/story/cap...-morning/83835

It's currently 9:30 and no update to the CJME site...

[Regina Boi]

Originally Posted by Dan0myte

"Major" announcement coming this morning at 9

http://www.newstalk980.com/story/cap...-morning/83835

It's currently 9:30 and no update to the CJME site...

I just got a tweet from CTV Regina, saying construction is moving forward. Completion in 2014. No story linked to the tweet.

Here's a story from CBC, not much info though:
http://www.cbc.ca/news/canada/saskat...otel-1211.html

[RPM4]

From CJME's Patrick Book - www.twitter.com/PatrickBookCJME - Live tweets from today's media event:

"BrightStar Corporation announces work will begin on Capital Pointe site, just not THEIR work. SaskPower to relocate duct work. #YQR"

"BrightStar's Greg Black says excavation and foudnation work would start after SaskPower is done. Hope their work starts in new year. #YQR"

"Hotel and lower floors of condos could be ready by Nov. 2014 according BrightStar; full build-out done by middle of 2015. #YQR"

"BrightStar says it will re-apply for development permit "in a couple of weeks." That process will happen while SaskPower is working. #YQR"

"BrightStar is rearranging buildings; 3 hotel floors to move from bldg to hotel itself, now 12 floors. #YQR"

"BrightStar will add three floors of condos in the 500 sq ft range for "first time buyers." Black says they've sold 1/3 of "what they need.""

"BrightStar plans to move northern wall of bldg back by 10 feet to save millions of dollars in concrete costs, make it more affordable. #YQR"

"BrightStar's Greg Black admits "credibility of the project has been an issue." Says they'll be vindicated when construction starts. #YQR"


As someone who put a deposit on a unit on one of the lower floors, I'm a bit concerned about my unit now potentially being part of the hotel. Not really what I signed up for.

Also no mention of a hotel buyer yet ... I thought that had to happen before they moved forward?

[Stormer]

Originally Posted by RPM4

From CJME's Patrick Book - www.twitter.com/PatrickBookCJME - Live tweets from today's media event:

As someone who put a deposit on a unit on one of the lower floors, I'm a bit concerned about my unit now potentially being part of the hotel. Not really what I signed up for.

Also no mention of a hotel buyer yet ... I thought that had to happen before they moved forward?

Were not the first 3 floors of the residential tower part of the hotel in the original plan. I believe all that they are saying is that those are now in the hotel tower. That is, one tower is now pure hotel and the other pure condos.

[TechnicalRecession]

Originally Posted by RPM4

From CJME's Patrick Book - www.twitter.com/PatrickBookCJME - Live tweets from today's media event:


"BrightStar is rearranging buildings; 3 hotel floors to move from bldg to hotel itself, now 12 floors. #YQR"

"BrightStar will add three floors of condos in the 500 sq ft range for "first time buyers." Black says they've sold 1/3 of "what they need.""

So...
If Black is to be believed, and if this actually happens (2 really big ifs), then this is actually a net improvement. The hotel is bigger and taller now and they are introducing some starter condos that may appeal to younger people and be more affordable. However, I am still hung up on the if part. Like most people I will believe it when I see it.

[jlousa]

In BC that would constitute a significant enough change that would void all existing contracts. A disclosure statement usually provides the developer some flexibility in changing items, but the changes can not be detrimental to the purchaser. A lawyer could argue that bringing in cheaper units diminishes the original vision of of the project and thus lowers the value across the board. I'm not familiar with Sask law but can only imagine it's pretty similar all across the country. The project being discussed now is certainly vastly different then the original project. The current project might actually be more feasible then the original but the original purchasers should have the option of opting out if they desire.

[Treesplease]

Originally Posted by prairieguy

thefourthtower....are you directly related to this project, or just have a source...just curious, as you phrase your post in such a way that makes it sound like you are definitely directly involved.

Actually - If Fourthtower was involved with Capitalpointe it would explain a lot.

[thefourthtower]

`

[Dillweed]

Good news I know a lot of people in Regina have been waiting for this project to get off the ground. Capital Pointe will be a great addition to the downtown Regina skyline.

Hey heres a little human interest story for you all. I'm not saying I believe in this myself but there are those in this world that do. Nor predicting that this is going to happen. But for the provinces sake I hope the "Skyscraper Index" isn't in play here for the Saskatchewan economy.

It's no secret that the Saskatchewan economy has been pretty good for the last several years. And I understand that when this project is built it will be the tallest building in the province. Those who believe in this index believe there is a correlation between tall buildings and financial crisis's.

To site few examples: In 1870 the Equitable Life building the world's first skyscraper was completed in NY. What following was a severe five year recession. It burnt down in 1912.

The Empire State building in NY was started in 1930 at the beginning of the great depression.

The Petronas Towers in Malaysia began construction in 1997 just prior to the Asian currency crisis.

The Burj Khalifa building in Dubai the worlds tallest building began construction in 2007 just prior to the world financial crisis of 2008 and debt crisis in Dubai.

And so on - Sounds kinda freaky don't it. There are those in this world that place a lot of weight in this index. The same type of crowd that believe in things like the "Super Bowl" indicator.

[brithgob]

The Bow (Encana building) in Calgary, tallest office building in Canada outside Toronto, is apparently now finished. Have the wheels started coming off there yet?

[Dillweed]

Originally Posted by brithgob

The Bow (Encana building) in Calgary, tallest office building in Canada outside Toronto, is apparently now finished. Have the wheels started coming off there yet?

Haven't I heard of some big Oilsands projects that have been cancelled or put on hold? Just saying.

[DowntownRiderFan]

This RFP was released last Thursday:

Competition Name: SaskPower Cable Installation for Duct Bank Reroute

Synopsis: The purpose of this Contract is to provide SaskPower with the labour and equipment to install five 25kV feeder cables into a new underground cable duct that has been rerouted to accommodate a future condominium building in downtown Regina. An overview of the work includes: - Pull five(5) three-phase feeder cables between six manholes - Approximate route distance is 220 meters - Cable to be installed is 500 kcmil Cu XLPE cnj - Install 8 cable racks in each of the five manhole vaults - Install required rack hooks on cable racks - Rack five (5) three-phase cables in five manhole vaults - Complete required grounding in five manhole vaults - Complete required bonding of cables in four manhole vaults - Splice five (5) three-phase feeder cables in four manhole vaults - Complete tagging of feeder cables in five manhole vaults - Complete labeling of five manhole vaults

https://www.sasktenders.gov.sk.ca/Co...7-765a9013e788

A good sign anyway.

[1ajs]

500mcm damn thats a fair sized cable... no wonder theres been such a delay

[SkydivePilot]

Originally Posted by 1ajs

500mcm damn thats a fair sized cable... no wonder theres been such a delay

What is: "500 mcm" cable?