Saskatoon Construction III

[mitchellk12]

Originally Posted by prairieguy

I hope, as the report suggests, that the land west of Idylwyld freewaynext to farmers market WILL open up this Fall!! I would be really surprised if Urban Capital didn't take a serious look at the property....although, a real estate acquaintance of mine said that the sales of River Landing NO1 were struggling with the addition of the 4 floors and there had been a price drop? Not sure that is true or not, but that is what this person indicated.

im excited to see what will go where the old Patricia hotel was, and idylwyld-22nd st has a massive open lot perfect for some high density. Really hope to see parcel D/E have a proposal soon

[alt_center]

Originally Posted by prairieguy

I hope, as the report suggests, that the land west of Idylwyld freewaynext to farmers market WILL open up this Fall!! I would be really surprised if Urban Capital didn't take a serious look at the property....although, a real estate acquaintance of mine said that the sales of River Landing NO1 were struggling with the addition of the 4 floors and there had been a price drop? Not sure that is true or not, but that is what this person indicated.

I have ZERO inside information and this is all speculation, but I don't think Urban Capital is at all worried about the remaining units. They don't seem to be making any effort at marketing them.

As far as I know, they have not advertised or opened their sales center in months. They have not updated their website in months (from what I can tell) so its difficult to say what units are actually still available. It is my hunch that the remaining units are less than prime and would be a tough sell in any circumstance (e.g., limited view, second floor fishbowl, etc).

If I were Urban Capital, I might consider making a play for lot d/e. There is this "buzz" or perception that No.1 sold out immediately that I would not want to kill.

I would build on that buzz and start marketing the new building in the spring when the gallery/restaurant is open, the office tower is underway, and No.1 has topped out. Its easier to sell with something tangible rather than a vacant lot, and I think even unfinished No.1 is going to look awesome. While marketing a new riverfront building with fabulous views etc., I might say: oh by the way, we have these units at No.1 that have become available as well.

I go so far as to speculate that Urban Capital's current lack of marketing for No.1 actually bodes well for another project (as compared say, to the Banks marketing strategy)

Even if they do not pursue another project, I still think spring would be a better time to move the remaining units for many of the same reasons.

[Wyku]

$2.1M property tax break proposed for Saskatoon World Trade Center
Five-year tax abatement would start in 2020, when construction is expected to wrap

http://www.cbc.ca/news/canada/saskat...nter-1.4315793

------
I wonder if this expanded incentive program to allow for buildings to qualify on land where a building already exists will spur more developments at older/smaller buildings in prime locations downtown--not that there aren't enough vacant lots in good locations already of course. I hope there's some sort of clause in there that doesn't allow for the lot to remain vacant for a long period of time after a building is demolished to make room for a new building as part of this program though.

[The Bess]

yes especially on buildings that are usable. If they tear it down they should have to pay same as if the building was there, otherwise I see this as a way for developers to pay less tax for a vacant lot for as long as it stays undeveloped. If building not usable because of not being safe , etc. that would be another thing. But I'm pretty sure a smart developer would maybe keep renting the building if he could.

[The Bess]

Interesting quote from Atch:

“If you don’t have development in your downtown, you end up with a donut and when you have a donut, you end up with individual communities and you don’t end up as a whole,” Atchison said. “For me, the downtown is exceedingly precious and it’s very critical that we get to a healthy and vibrant downtown.”

[macca]

Originally Posted by The Bess

Interesting quote from Atch:

-from his office in stonebridge and/or home in the willows

[Echoes]

Originally Posted by The Bess

Interesting quote from Atch:

Man do I not miss him.

[roryn1]

Originally Posted by macca

-from his office in stonebridge and/or home in the willows

Based on his track record as mayor that saw the most parking lots built and buildings torn down 😂

[prairieguy]

Originally Posted by The Bess

Interesting quote from Atch:

So hypocritical....his track record certainly tells a different tale.

Regardless, I do think this was the right move to provide these incentives to get something going BUT there MUST be conditions attached to construction timelines!

I also read he is calling this building 'iconic'....hardly... from a planned 27 story office tower to 9 story 'stump" tower....but will be a nice addition to downtown.

[mitchellk12]

Originally Posted by The Bess

Interesting quote from Atch:

[QUOTE=“If you don’t have development in your downtown, you end up with a donut and when you have a donut, you end up with individual communities and you don’t end up as a whole,” Atchison said. “For me, the downtown is exceedingly precious and it’s very critical that we get to a healthy and vibrant downtown.”[/QUOTE]

he thinks about donuts too much

its nice something is going there. but the 30 res/18 office planned couple years back was the money shot for the core.

[molasses]

Originally Posted by prairieguy

So hypocritical....his track record certainly tells a different tale.

Regardless, I do think this was the right move to provide these incentives to get something going BUT there MUST be conditions attached to construction timelines!

I also read he is calling this building 'iconic'....hardly... from a planned 27 story office tower to 9 story 'stump" tower....but will be a nice addition to downtown.

I think you/he misspelled ironic.

[roryn1]

Originally Posted by prairieguy

So hypocritical....his track record certainly tells a different tale.

Regardless, I do think this was the right move to provide these incentives to get something going BUT there MUST be conditions attached to construction timelines!

I also read he is calling this building 'iconic'....hardly... from a planned 27 story office tower to 9 story 'stump" tower....but will be a nice addition to downtown.

I’m kind of ok with smaller towers, I would rather have 3 ten stories than 1 30 story only because we really don’t have that many office towers to start and that leads to more main floor development which keeps the downtown more lively. Maybe in another 39 years we’ll see a big cahuna that’s 30 stories... I don’t see it happening in my lifetime at the current rate of office job growth in Sask.

[YXE]

There's a large disconnect between what Atch says and what he does, isn't there???

[roryn1]

http://thestarphoenix.com/storyline/...r-the-retailer

A process to then liquidate the remaining Sears locations could start as soon as Oct. 19.

“There is a massive swing in value,” if the process is not started by then, Joe Latham, a lawyer for Wells Fargo Capital Finance Corp. Canada, told the court.

If a proposal to buy the business as a going concern does not materialize, he added, it is key to liquidate before the Christmas season is over to maximize the value the process can attain.

[Toontone]

Just a bit curious. Is the new Save On Foods building on 8th and Cumberland going to be totally used by Save On? It sure is a big building now that it is near finished and you can see what is actually there.

[The Bess]

Here is a site plan for cumberland square

http://www.cgcproperties.com/wp-cont...-Site-Plan.png

[Crisis]

I believe that the "Retail Tenant" next to Save-On in Cumberland Square is going to be a liquor store. Not sure as to the branding, though.

[prairieguy]

Originally Posted by Crisis

I believe that the "Retail Tenant" next to Save-On in Cumberland Square is going to be a liquor store. Not sure as to the branding, though.

Hope so....I live in that neighborhood (Varsity View) and there is no liquor board store close by at all...some offsale places, but not a dedicated LBS.

[TheCricket]

Originally Posted by Crisis

I believe that the "Retail Tenant" next to Save-On in Cumberland Square is going to be a liquor store. Not sure as to the branding, though.

Word on the street is that it is a new "Shoppers Drug Mart" replacing the one in Grosvenor Park which has maxed out on capacity for comp store increases and future growth.

[gowest]

As I drive around Lawson Heights Mall and Preston Crossing, I have to wonder how people are supposed to park with all the new buildings. More businesses means more staff and less parking.. if people can’t find parking near the store they are going to, they will go somewhere else. Preston Crossing is now an a good example of trying to even figure out how to get around the lot.