Winnipeg's Exchange District | East/West | Development

[JamieDavid Exchange]

Originally Posted by oftheMoon

Is this the program in Regina you're referring to? I'm just looking for some background reference to draw some comparison to what we know was proposed here.

http://www.regina.ca/opencms/export/...icyjan2012.pdf

Not exactly. I'm referring to this....Click Here

Presently, Regina is a particularly profitable environment for real estate investors. "With the current market in Regina right now - and with the incentive that the city has offered of five years with no property taxes for anybody that buys in the building, because they're trying to get people to come back into the city - it opens up a large opportunity for people that potentially want to invest," Tilley said. "At the prices that we're selling from, and with today's interest rates, if people were interested in investing there, they would be able to rent a unit out there and definitely cover its cost and probably turn a modest profit on a month-to-month basis."

[JNPowelld1b4]

Originally Posted by steveosnyder

If you noticed in my very next post I stated that they weren't good reasons; I stated that this is why the majority of Winnipeg is against it. I then stated exactly what you are saying here, that suburban development patterns have been subsidized since the inception of zoning codes in all their glory.

I also gave my reason for not liking it: more subsidies are not the answer; making up for subsidizing the suburbs by subsidizing downtown will create huge expenses that the civic government can't afford. A better answer would be to charge more for suburban development.

But I agree with Rypinion -- this will not happen with the current council and, more than likely, in my lifetime.

What we need is a council that isn't funded by developers.

Well, a dynamic downtown is not a bad idea, but not at the expense of Winnipeg's almost bankrupt infrastructure budget. Not at the expense of taxpayers already taxed to death, paying investors and speculators.
There should be no incentive from public towards private investment anywhere in the city, for the simple reason that we can't afford it. Maybe the late development in Detroit has more demonstrating facts supporting the reason why city hall should stay away from unnecessary spending. The Exchange condominiums will sell without subsidies, if priced right.
In 1995 Toronto downtown, a 2,875 sf. penthouse was purchased for $544,900.00 which was sold last month for $3,750,000.00 for a realized private profit of over 3 million dollars. Is called risk/reward ratio and it's the result of a free market.
Is ridiculous how the city hall rejected 543 Elmhurst Road development where the developer was committed to pay for all infrastructure, without any public incentives, without the city spending a dime for a development that would've had created enough public revenue to maintain the entire area. Is ridiculous how the city hall rejected that development only because was opposed by a few residents apparently developers themselves, competing with the applying developer. Where is the Competition Act? Where is the Competition Bureau?

[rypinion]

Originally Posted by JNPowelld1b4

Well, a dynamic downtown is not a bad idea, but not at the expense of Winnipeg's almost bankrupt infrastructure budget.

I'd argue that more residents downtown is the solution to Winnipeg's infrastructure deficit.

[JNPowelld1b4]

Originally Posted by rypinion

I'd argue that more residents downtown is the solution to Winnipeg's infrastructure deficit.

And I totally agree with that.

[JamieDavid Exchange]

EAST EXCHANGE



Market Ave Streetscaping


Sky II


James St District Condos


Sunstone Waterfront Hotel


Harbour Master Restaurant


Former Brick's Fine Furniture



WEST EXCHANGE

WRHA Expansion on Hargrave


Fairchild Lofts on Princess


RRC Paterson Global Foods Institute


Condo Loft Conversion on Hargrave (North of Notre Dame)

[rrskylar]

Originally Posted by Riverman

I don't understand this. Why does the taxpayer have to pick up the tab for parking spots for condo owners? Why don't the condo owners pay for parking spots like they do in every other city?

These young'ins in here have suckled on the NDP for far too long and just don't realize that govt. doesn't provide for everything in other jurisdictions. When parking is built into a condo development it adds value to the condo itself, I know my aunt sold one of her two parking spaces at her Vancouver condo for a very tidy sum.

[rypinion]

Originally Posted by rrskylar

These young'ins in here have suckled on the NDP for far too long and just don't realize that govt. doesn't provide for everything in other jurisdictions. When parking is built into a condo development it adds value to the condo itself, I know my aunt sold one of her two parking spaces at her Vancouver condo for a very tidy sum.

Easier said than done for the condos in question - Qualico's warehouse conversions.

[Bdog]

Originally Posted by rrskylar

These young'ins in here have suckled on the NDP for far too long and just don't realize that govt. doesn't provide for everything in other jurisdictions. When parking is built into a condo development it adds value to the condo itself, I know my aunt sold one of her two parking spaces at her Vancouver condo for a very tidy sum.

Interestingly enough it was the NDP that said they wouldn't support the subsidy portion of plan - rather, it's our business-minded mayor who supported it...

[bomberjet]

Whoa whoa whoa. Young'ins in here? Suckling the teet of the NDP? That's a pretty broad statement.

[Cyro]

Originally Posted by bomberjet

Whoa whoa whoa. Young'ins in here? Suckling the teet of the NDP? That's a pretty broad statement.

Ha ha, I know this is heading to the "Political Thread", but could some of the posters define," young in"? I'm def. not 23,way older, but ppl tell me I'm more 30 ish? I've lost total faith in our current provincial gov't, for many reasons, but it's painting our new generation with quite the broad brush stroke aint' it?

[steveosnyder]

Originally Posted by rypinion

Easier said than done for the condos in question - Qualico's warehouse conversions.

How did they do it with the Ashdown Warehouse? Was the parking always there?I know the building was done in 1905, so I doubt it was "original" but was it there before the condo conversion in the 80's?

[rypinion]

Originally Posted by steveosnyder

How did they do it with the Ashdown Warehouse? Was the parking always there?I know the building was done in 1905, so I doubt it was "original" but was it there before the condo conversion in the 80's?

True, I always forget that it has parking inside of it and not just in the dead block across Rorie.

[SKYSTHELIMIT]

Originally Posted by steveosnyder

How did they do it with the Ashdown Warehouse? Was the parking always there?I know the building was done in 1905, so I doubt it was "original" but was it there before the condo conversion in the 80's?

It was an actual lower level in use when it was a warehouse you can still see where the windows are along the street level. All gutted out throw in a ramp and voila one level of parking. It nmade for some interesting parking configurations down there, alot of tandem stalls. My spot was just big enough to fit a full size car and a Miata tucked in on an angle.

[cllew]

Looks like the city is giving mixed signals for buying condo's in the exchange. They want to give $10,000 to buy one but in August they are removing the permits for on street parking.

http://www.cbc.ca/news/canada/manito...g.html?cmp=rss

[steveosnyder]

Originally Posted by cllew

Looks like the city is giving mixed signals for buying condo's in the exchange. They want to give $10,000 to buy one but in August they are removing the permits for on street parking.

http://www.cbc.ca/news/canada/manito...g.html?cmp=rss

When she purchased the condo she also bought a residential parking permit, which lets her park her car on a street near her home for $25 a year.

I really don't understand this, aside from the idea being dumb -- why don't they just make the hours you can park on the street with the pass later -- why do they charge such low prices for it in the first place?

[rypinion]

Originally Posted by steveosnyder

I really don't understand this, aside from the idea being dumb -- why don't they just make the hours you can park on the street with the pass later -- why do they charge such low prices for it in the first place?

I've never understood the low prices - I've always felt like I've been getting away with murder. I guess the idea might be that normally on street parking is free, so it shouldn't be that much. Having said that, I'd pay much much more for such a thing if it was still going to exist.

[Mininari]

Originally Posted by steveosnyder

I really don't understand this, aside from the idea being dumb -- why don't they just make the hours you can park on the street with the pass later -- why do they charge such low prices for it in the first place?

I personally think it is far too early to start going hard on parking for residents in the area, and the evidence is in the other issue -- the $10,000 incentive, designed to get people to buy and live in the area shows that the area is not yet vibrant and strong enough to have a huge draw. The area is still depending on a narrow demographic, (which would certainly expand as the diversity of shops and services and amenities grows with exchange development)... but the critical mass is just not there ... YET (its getting so close, so many good things coming down the pipe), and given all the progress being made in the exchange in recent years, this clear ineptitude and mismanagement from council is HUGELY disappointing. If the residential push for the exchange fails, it will be a massive embarrassment and disappointment beyond any parking lot tax scandal or motel-watermark scheme.

In contrast, people pay handsomely for residential parking in large, dense urban centres. Its true. In fact, parking spots in downtown condos in Vancouver sometimes go to auction in the $30 - 50K range. No joking. However, Winnipeg's downtown is simply nowhere near commanding those kinds of prices. So instead, parking has to be part of an incentive package, not another barrier for residential development.

On the other hand, Parking for general office traffic / game nights, etc. Go nuts.

[cllew]

Originally Posted by rypinion

I've never understood the low prices - I've always felt like I've been getting away with murder. I guess the idea might be that normally on street parking is free, so it shouldn't be that much. Having said that, I'd pay much much more for such a thing if it was still going to exist.

Free Press article around 5pm says in part that the city will be offering a $100 a month option to have 2 free hours each day and overnight / long term parking on three streets with underused parking spots.

http://www.winnipegfreepress.com/loc...217798401.html.

I wonder if this is a change in policy from when the CBC first came out with the story?

[Cyro]

I have had one of these yearly passes for a 2nd vehicle in another area of the city for many yrs.

Not disagreeing with the parking problems within this area of the city, and much needs to be done with the current situation.

The article above ^^ in the WFP is an edited version of the initial one that came out earlier..
here >> http://www.winnipegfreepress.com/loc...217881541.html

Brian Timmerman, executive director of the Exchange District BIZ, said the shortage of parking is hurting area businesses.

"We found the streets on the east side of the Exchange were running at overcapacity and filled 100 per cent of the time from morning to midnight," Timmerman said.

"The chances were slim of you finding a spot on the street if you wanted to go to a business. Residents would leave a car on the street for a week and the spot would never become free."

The bolded is the only real problem I find with these parking passes. You can get a parking pass and leave a car in front of a buisness/restaurant, forever.(weeks)(months) This is a no brainer and must be changed in an area like the exchange. It's easy to abuse this kind of system.

[drew]

^ you could use some sort of a timed parking pass for residents. Valid only between say 6pm and 9am every day. Whether or not it was abused, people gotta park somewhere.