Regina Construction III

[Nathan]

General question... Has the parking lot at the corner of Albert and 12th been owned by "Dream" for a while? There is new signage up there indicating they are the ones to contact should someone want a spot (the quick 2x4 frame variety). It stuck out to me a bit this morning as Dream is a developer rather than an Impark type company.

[someguy]

Originally Posted by Nathan

General question... Has the parking lot at the corner of Albert and 12th been owned by "Dream" for a while? There is new signage up there indicating they are the ones to contact should someone want a spot (the quick 2x4 frame variety). It stuck out to me a bit this morning as Dream is a developer rather than an Impark type company.

They are a real estate management and holding company too. That's why they changed their name, Dundee Real Estate and Asset Management (D.R.E.A.M). Most of their holdings are out east though. They have traditionally done development in Sask.

[Nathan]

Originally Posted by someguy

They are a real estate management and holding company too. That's why they changed their name, Dundee Real Estate and Asset Management (D.R.E.A.M). Most of their holdings are out east though. They have traditionally done development in Sask.

So they do often hold onto plots of land for extended periods of time elsewhere in the country?

[someguy]

Originally Posted by Nathan

So they do often hold onto plots of land for extended periods of time elsewhere in the country?

Over $2B worth. They manage a huge reit.

[1ajs]

[Nathan]

Originally Posted by someguy

Over $2B worth. They manage a huge reit.

That's not all necessarily undeveloped though (I'm counting a parking lot as undeveloped).

Loblaws has a huge REIT too... But that is mostly dominated by their actual physical stores and "power centre" type developments. It took a while, but the plots of land that were empty by the North and East Superstores in Regina are bring filled out with buildings containing rentable space.

That's why I was wondering how long Dream typically holds onto blank land... Impark is pretty much permanent parking until it sells the land, Dream has the potential for development into something else.

[1ajs]

loblaws became a reit to leverage their landholdings

[Nathan]

Originally Posted by 1ajs

loblaws became a reit to leverage their landholdings

Yes, I'm aware of that... Regardless of reasons behind the creation, a REIT doesn't necessary sit on a parking lot as a long term asset the way Impark does or would, were they the owners.

That's what my original question came down to... Dream is now the owner rather than an Impark-type company. It seems like a fairly recent transaction considering the signage now on site (or is it? Was asking if anyone knew info about that site)... And with that in mind, how long does "Dream" typically sit on a parcel of land like that before trying to develop it further in some way shape or form to maximize the value and earning potential of their land holding. Parking is pretty much just a slight step above a completely empty plot.

[Stormer]

Impart does not own land, they just operate parking lots and pay rent to owners

[Nathan]

Originally Posted by Stormer

Impart does not own land, they just operate parking lots and pay rent to owners

Ah, interesting. So the plot could easily be flipped to Impark to manage.

And here I was hoping that we might see something other than a parking lot on Albert in the not too distant future.

[BrutallyDishonest2]

Dream does not own that parking lot. Dream leased the entire lot to service the parking requirements in their leases for Sherwood Place. But now Sherwood place is half empty so they're trying to recoup costs.

[Lutz]

FWIW I've heard rumours that dream is actually planning to pull out of regina shortly as far as their real estate holdings are concerned.

[thefourthtower]

http://leaderpost.com/news/local-news/railyard-renewal-project-moving-into-fourth-stage-of-planning
Railyard Renewal Project moving into fourth stage of planning


Craig Baird, Regina Leader-Post
More from Craig Baird, Regina Leader-Post

Published on: November 28, 2016 | Last Updated: November 28, 2016 6:00 AM CST

With construction of the new Mosaic Stadium nearly complete, all eyes are turning toward the former CP railyard on Dewdney Avenue.

That location will be the site of the Railyard Renewal Project, which will redevelop the 17.5-acre site in the centre of the city. The project is now in its fourth stage of planning, which involves preparing a redevelopment scenario on the strongest elements of each preliminary scenario.

“We will show some more site-specific ideas,” Mayor Michael Fougere said. “We suspect that we will have more to say about that in the coming months. We have had very strong public input and interest. The feedback has been significant.”

[Stormer]

Originally Posted by Lutz

FWIW I've heard rumours that dream is actually planning to pull out of regina shortly as far as their real estate holdings are concerned.

Which part of Dream are you referring to. There is no way Dream Developments and Homes by Dream are "pulling out". Also is not so easy to just pull out when the assets are real estate.

From Dream.ca:
We provide asset management services for four TSX listed funds:

• Dream Office REIT – Canada’s largest office REIT;
• Dream Global REIT – the first Canadian REIT to invest exclusively outside of Canada;
• Dream Industrial REIT – Canada’s largest pure-play industrial REIT; and
• Dream Alternatives Trust – providing investors the opportunity to access hard asset alternative investments.

Our operating businesses include:

• Homes by Dream – an award-winning home and condominium developer;
• Dream Development – Canada’s largest residential developer with ~10,000 acres of land;
• Dream Centres – focused on developing retail shopping destinations in our residential communities; and
• Renewable Power – we invest in renewable energy infrastructure.

[micheal]

Originally Posted by Lutz

FWIW I've heard rumours that dream is actually planning to pull out of regina shortly as far as their real estate holdings are concerned.

Isn't Dream involved in the Aurora land development with
Harvard developments and Forester Projects?

[Treesplease]

On the topic of Aurora, I took a cruise down tower road yesterday. It appears that there has been quite a bit of land scrapping going on at what will be Aurora. Grading of what will be streets and various properties etc. Also, straight east of Aurora right between tower road and the new bypass about a half mile south of the trans canada are a bunch of new ball diamonds. The posts/poles for back stops and fences as well as all the grading and outfield warning tracks appear to be in but no grass yet.

[Stormer]

Originally Posted by micheal

Isn't Dream involved in the Aurora land development with
Harvard developments and Forester Projects?

I don't think so. they have their own much smaller development called Eastbook. 11 acres at Chuka and Arens.

http://www.dream.ca/centres/project/#eastbrook

[Stormer]

Originally Posted by Treesplease

On the topic of Aurora, I took a cruise down tower road yesterday. It appears that there has been quite a bit of land scrapping going on at what will be Aurora. Grading of what will be streets and various properties etc. Also, straight east of Aurora right between tower road and the new bypass about a half mile south of the trans canada are a bunch of new ball diamonds. The posts/poles for back stops and fences as well as all the grading and outfield warning tracks appear to be in but no grass yet.

That is the relocated Pacers Park that was needed for the Arcola interchange.

[BrutallyDishonest2]

Originally Posted by Stormer

• Dream Office REIT – Canada’s largest office REIT;

This.

[Drofmab]

Originally Posted by 1ajs

That was like that prior to the dome work, was it not? You're wishing they'd have uncovered/restored it as part of the restoration project?