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  #3801  
Old Posted May 22, 2019, 3:14 PM
CoryB CoryB is offline
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Originally Posted by Bluenote View Post
Id just like the sky city sign take down, or a big banner across it saying (CROOKS).
I had similar thoughts -- would be interesting to see someone graffiti "fraud" across the sign on their site.
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  #3802  
Old Posted Oct 2, 2020, 11:51 AM
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  #3803  
Old Posted Oct 2, 2020, 12:51 PM
3de14eec6a 3de14eec6a is online now
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Originally Posted by cheswick View Post
That's great news! Maybe it will only be a parking lot for another 10 years instead of 20.
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  #3804  
Old Posted Oct 2, 2020, 1:53 PM
Simplicity Simplicity is offline
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Originally Posted by cheswick View Post
He also said D-Condos would never get built and downtown doesn't have the population to support a convenience store. Not to mention he was a belligerent asshole who lacked the ability to not only admit when he's wrong but accept anyone's opinion on subjective matters that differed from his own.
Just came for a victory lap and to remind everybody that D-Condo went bankrupt, cost all the purchaser's their deposits, and cost the banker who approved the mortgage his job. Caisse sued Karampaul Sandhu but couldn't locate him, his lawyer abandoned him in the middle of the proceedings for non-payment, and the latest was that they were suing the guarantors of the loan, his father among them.

PWC acting as receiver went out for tender accepting bids to take the project over at the cost of Caisse's outstanding loan and couldn't find a buyer. They remain in control of the project with Bockstael having been brought in to complete construction. Their filings stated their best case scenario was a $6m loss on the project if they could sell all the units within ~2 years. That was 2 years ago.

Development is hard
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  #3805  
Old Posted Oct 2, 2020, 2:51 PM
bomberjet bomberjet is offline
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Look who the cat dragged in. Welcome back.
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  #3806  
Old Posted Oct 2, 2020, 6:05 PM
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Ouch. Rest in peace Sandhu Developments. I have to admit, between SkyCity failing spectacularly, DCondo getting built in but in a total mess of a situation leaving all kinds of wreckage, and 300 Main dragging on for seemingly forever and covid now a factor, you have to wonder what the chances are we'll see any more ambitious residential development downtown anytime soon. Is Starlight still in the game?

And welcome back Simplicity.
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  #3807  
Old Posted Oct 2, 2020, 6:17 PM
bomberjet bomberjet is offline
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If these things are built by people who know what they're doing (ie: TNSE/PCL, Bockstael, etc) things seem to go very smoothly. On the other hand, we have top notch hotel builders (or whatever they're called) doing sutton place. ARTIS managing 300 main. Things dont go very well.

Hopefully someone reputable picks up the skycity site and gets something done with it. A new tallest would be awesome. But I'll take pretty much anything within reason that fills the space and brings people there.
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  #3808  
Old Posted Oct 2, 2020, 7:58 PM
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Flatland Metropolis Flatland Metropolis is online now
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It is too bad about the whole scam Skycity thing. A nice 20+ in that spot with the building going up at 360 Main would really look fantastic and contrast nicely with the giant holes that are our downtown parking lots. Given the economic downturn, probably a little while before we see a realistic plan for this.
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  #3809  
Old Posted Oct 2, 2020, 8:07 PM
vellakaran vellakaran is offline
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Big time lurker here. Always liked Simplicity's bluntness and knowledge of the game. Enjoy the victory lap.
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  #3810  
Old Posted Oct 2, 2020, 8:39 PM
CoryB CoryB is offline
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Looking at the positives from SkyCity -- there was definite and seemingly legitimate interest in that type of concept in downtown Winnipeg. The other huge positive is Winnipeg managed to keep them from needlessly demoing the St Regis and didn't get left with a giant, abandoned hole in the ground.
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  #3811  
Old Posted Oct 2, 2020, 11:11 PM
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Originally Posted by CoryB View Post
Looking at the positives from SkyCity -- there was definite and seemingly legitimate interest in that type of concept in downtown Winnipeg. The other huge positive is Winnipeg managed to keep them from needlessly demoing the St Regis and didn't get left with a giant, abandoned hole in the ground.
1) Sky City will be bought by a very large quiet player for a forever parking lot ... did I say forever?

2) St Regis is unheated, flooded and filled with mold... CV ( who owns it) will tear it down and apply for temporary parking and get it. There is still a chance a parking garage may appear on the site... I expect some kind of announcement to that effect in the next 6 months.

3) $60,000,000 tri level government subsidy at Portage Place really means the developer is being offered the whole site for free... I am uncertain they will close.

On a positive note Pacific / Alexander RNDSQR development announcing they are still moving forward (with out parking). Now that project has a chance of making economic sense and a sizeable difference in the area.
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  #3812  
Old Posted Oct 4, 2020, 4:06 PM
KellyEdwards KellyEdwards is offline
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Developments like condos aren't built and decided on current circumstances, they're built based on forecasts 5-10 years in the future.

If the forecast for residential demand in the downtown core sustains a promising future, developers will plan and build for that.

Truth is, the deciding factor for future developers on whether or not they'll build a towering skyscraper like SkyCity would depend on the success of 300 Main.

If 300 Main remains at high occupancy with little turnover, other developers would be enticed to build towers in Winnipeg's downtown core.

This combined with the Portage Place Redevelopment will be the driving factors for the next residential tower in Winnipeg's core.
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  #3813  
Old Posted Oct 5, 2020, 1:09 PM
scryer scryer is offline
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A building of this magnitude was facing an uphill battle for a couple of these:

1. It was a shady developer already facing financial issues.
2. It was introducing a huge building in a city that doesn't have a huge glut for condos.
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  #3814  
Old Posted Oct 5, 2020, 2:19 PM
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GarryEllice GarryEllice is offline
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Quote:
Originally Posted by scryer View Post
A building of this magnitude was facing an uphill battle for a couple of these:

1. It was a shady developer already facing financial issues.
2. It was introducing a huge building in a city that doesn't have a huge glut for condos.
I think factor 1 was the biggest one. For factor 2, it's true that the demand for condos in Winnipeg isn't huge, but the location and amenities planned for SkyCity would have made it uniquely attractive. I would have seriously considered buying a unit if the developer had been reputable. I imagine other potential buyers also stayed away once they read up on the developers.
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  #3815  
Old Posted Oct 5, 2020, 2:25 PM
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We are so far ahead of you guys. Our parking lot is already approved.
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  #3816  
Old Posted Nov 24, 2020, 1:12 AM
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St. Regis

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Winnipeg Act II - March 2024

Winnipeg | A Picture Thread - Updated October 2023

In The Future Every Building Will Be World-Famous For Fifteen Minutes.
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  #3817  
Old Posted Nov 24, 2020, 1:24 PM
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Well at least one good thing came out of it all! RIP Regis, you were beautiful but rotten.
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  #3818  
Old Posted Nov 24, 2020, 1:57 PM
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^ For most of its existence the St. Regis was a decent little hotel that served its clientele well. Even though it declined in its last decade or so, I certainly wouldn't call it rotten... it doesn't belong in the same category as some of the more notorious dive hotels in and around downtown.

But that said, architecturally I don't think it's a huge loss for downtown Winnipeg. Unfortunately the building was stripped of its charm many years ago when the original facade was removed.
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  #3819  
Old Posted Nov 24, 2020, 3:26 PM
DirtWednesday DirtWednesday is offline
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Yup. It was my out of town grand parents' favourite watering hole when they came to town 25-30 years ago... I guess beyond 30 years, but they were going there up until the late 90's until gramps passed.
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  #3820  
Old Posted Nov 24, 2020, 3:45 PM
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Yeah I worked the phones at Pizza Hotline back in ‘04 and the company wouldn’t deliver there because it was too dangerous. It’s been a hole for at least 20 years.
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