Winnipeg | 185 Smith St | Smith Street Lofts

[morty]

Does the double-story loft concept make it more feasible to redevelop an under-elevatored older building without having to somehow carve out an extra elevator shaft or deal with perpetual complaints?

I imagine just having larger units with less units per floor already helps with this, but I'm no engineer.

[EspionNoir]

Originally Posted by morty

Does the double-story loft concept make it more feasible to redevelop an under-elevatored older building without having to somehow carve out an extra elevator shaft or deal with perpetual complaints?

I imagine just having larger units with less units per floor already helps with this, but I'm no engineer.

Not sure, but since they are lofts I imagine they will be more expensive than normal condos (if the units will not be apartments)

[buzzg]

It's apartments.

[Wpg_Guy]

https://www.instagram.com/p/B8R-nvIANOR/

[Wpg_Guy]

[EspionNoir]

It seems that there will be several floor plans available.

[borkborkbork]

Originally Posted by EspionNoir

It seems that there will be several floor plans available.

are these available somewhere? is this building going to be rental apartments or condos?

[Wpg_Guy]

Originally Posted by borkborkbork

are these available somewhere? is this building going to be rental apartments or condos?

Rental

[buzzg]

Glazing going in on the west side, looking nice. Appears like the exposed existing brick and concrete is staying, I kinda like the way it looks actually. Especially the sides.

[bomberjet]

Yeah, whatever brick is left is staying put. Not sure if it will be painted.

[BigG]

Pictures speak a thousand words.

[buzzg]

Originally Posted by BigG

Pictures speak a thousand words.

Then go take a picture.

[BigG]

I would love to. However, I'm not in the area often. I will do that next time I'm around. Thanks for the suggestion.

[3de14eec6a]

[dmacc]

Today's SSP Champion is this guy ^^^ for coming through with a picture.

[buzzg]

noticed today that the same section on the east side is already fully glazed too.

[hello]

Great project for downtown and the 2 story loft units will be really unique but I can't see how the loft units make any economic sense

[buzzg]

Well I'm sure to some people who are on the fence about house vs. apartment having 2 storey units will feel more like a house. I'm sure the costs will be reflected in the rents.

Anyone know if the price they paid for the building/property would be a "good deal" considering the state the building was in? Like maybe they're able to make the numbers work easily based on what they paid for the building?

[Labroco]

Originally Posted by buzzg

Well I'm sure to some people who are on the fence about house vs. apartment having 2 storey units will feel more like a house. I'm sure the costs will be reflected in the rents.

Anyone know if the price they paid for the building/property would be a "good deal" considering the state the building was in? Like maybe they're able to make the numbers work easily based on what they paid for the building?

I think they paid over $16,000,000 for the site which seems like a large number. It did include the parking lot to the South. They are a very substantial inter generational company and can easily afford to overpay and write off any loss against their other holdings. It is similar to a Boa swallowing a pig... the bulge may look large but it does get digested over time!

[buzzg]

Interesting. It'll be really interesting to see what they do with the podium, and also the future parkade, in regards to commercial space. I think Antares is proof that the entire podium could be retail successfully, they only have 1 unit left there.