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Maybe this can finally get started and not look like a frickin war zone .
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To be factual, Ben McCrea started with the Waterside proposal, he pointed out some time ago that he had the right to demolish the buildings instead. But instead of demolishing the buildings he will spend significantly more money to restore much of the buildings. |
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Anyway, I hope this moves forward soon. |
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Hopefully this project can move forward. I will say this though: The Stephen Avenue heritage area in Calgary is quite nice - I rather like it. But knowing how some of the zoning works around it; people would be shocked to know that certain pars of the area could be redeveloped into another 'bow' like tower. |
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Too bad that these buildings weren't left alone, given their current state. Now all other possibilities are gone with only two possible futures remaining: build a glass box up through the middle of them or tear down what remains. The second option makes me feel a little sick inside. Hopefully something will happen soon as the "bombed out" shells are now an eyesore rather than the legitimate heritage buildings that they once were. One can only imagine what tourists think when they walk up from Historic properties and see this mess. Oh well, maybe they'll see Baton Rouge and go that way instead... that type of deal is what should have happened to those properties, IMHO. |
So the cold water cooling system looks like it was approved in August of this year. What is the current hold up? Wasn't Ben or whatever his name was complaining about how long the city took? Did he loose all the tenants he lined up? Just curious as to why because this site is still sitting there waiting to collapse in on itself.
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Armour has what they want for now. Because they ripped apart the registered heritage buildings on site the pressure to renovate them was eliminated and also they will get a lower tax bill as a reward from a short sighted, weak kneed, walking train wreck of an HRM planning dept. This happens over and over again and council/planning just let it slide. Now Armour has a perfect property to play the speculating game with. Let it sit for ten years and let the value increase with zero maintenance and the lowest taxes possible..... Assessment NS shows 1801 Hollis St. listed at $32,841,200 for 2010 and the entire Waterside site at $230,000 for 2010. It also shows the assessment dropping after demolition. It's hard to imagine this site would only be assessed at $230,000. The assessment should have remained the same after demolition thereby removing some of the incentive to demolish registered heritage properties in the historic heart of the city. Armour should be slapped with an unsightly property citation. |
I suspect this would turn out a lot better if it were switched over to apartments.
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As for delays I can understand Armour's side on this although I think everyone can agree (even the developer has stated it in the media) the site looks terrible. That said, it’s hard to make contractual (lease) commitments to tenants if they are unsure if they have the cooling as proposed or anything for that fact. It appears the issues related to this system seems to be behind them I suspect they have chosen to go in spring time, rather then start and be in the middle of the winter trying to pour concrete. Who knows, they may not be able to find a crane or form work people as its well know that industry is at max capacity these days. Armour started the development only to find out that the easements and encroachment had to be filled and couldn’t be granted through the development process. Instead of speeding things through, it got caught in red tape. And to point out something Empire, the lot is actually assessed and taxed at a value of $1,878,800. You might want to check your facts a little closer. Giving them a fine would accomplish nothing in my opinion. My bet is we see this go in the spring, although the vacancy rates downtown will be the worse they have been in 10-12 years in “A” class, with more expected in the b class as well. If anything, the smaller buildings like Waterside and are the ones who will find tenants easier then the CC. In the end who knows, things aren't great in the downtown with regards to attracting new tenants. |
Yeah, part of the problem with fines and restrictive heritage regulation is that they make the downtown even less competitive. This stuff is not an issue in the suburbs.
I would rather see a positive approach taken with the downtown that would involve more financial incentives/bonuses and more public investment in things like transit. I believe that the downtown core would be much better off if it were served by a light rail system and had a larger local population. The proper way to sell the downtown is as an area with a good quality of life where you can live in a nice condo, have a pleasant walk to work, live close to all amenities, etc. Spring Garden Road is pretty good for that but the Waterside area is not. I didn't know there was the possibility of this moving forward in the spring. To some degree I would guess that a small building under construction or recently completed would be an easier sell to tenants, but maybe the financing and construction doesn't work out with commitments ahead of time. |
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PVSC http://www.nsassessmentonline.ca/ias...x?mode=ADDRESS http://i132.photobucket.com/albums/q...sideassess.jpg |
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Assessment for the property sure has increased:
2009 - $624,000 / 2.9% 2010 - $509,300 / -22.5% 2011 - $1,878,800 / 72.9% |
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These facades have survived some very high winds this fall so they must be reasonably secured. If it is some time before the property is developed the facades may hang in there.
If the hotel market was better this would be a great location for a hotel or maybe a high end boutique hotel....It would be nice to see the city give Armour a big tax break to help the progress. |
There was a quote in ANS tonight from Peter Kelly saying that he's "been led to believe" that Waterside will be moving forward this year.
Could be a very big year for construction in Halifax. Hopefully the Nova Centre will also get underway. Above that was a slightly annoying article about the closure of J. W. Doull and Back Pages. The author stated that it's "another sign that the retail appeal of Barrington and Spring Garden is inexorably ebbing away". Next to that they had another article about some LuluLemon-related store opening up that will probably be paying some of the highest rents ever on SGR. Book stores are closing because of Amazon and other online book sellers/printers. Can't wait for the pronouncements of the death of the downtown when HMV on Spring Garden Road closes down. I will be particularly amused if the NSP building, Waterside, the library, and the Nova Centre all go up but we still get articles about how there has not been a development downtown in 20 years. |
sad news about the bookstores closing.
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