CF Pacific Centre Developments

[whatnext]

Originally Posted by SpongeG

I love Simons, when I go on weekends it is very busy, due to work schedule changes I used to only go on weekdays and found it to be quiet.

Some stores have locked up deals with brands making it impossible to buy them elsewhere, such as when Bond NYC moved from Holt Renfrew to Hudson Bay. Simons does have a lot of brands they don't carry at Park Royal but in other places, I remember the Edmonton store had a lot of Alexander McQueen at one point, not so much here for example.

Simons also has a good selection of Korean brands and my beloved Benetton, I still buy a lot of their stuff thanks to Simons for carrying them.

How big are the Simons stores out in Quebec?

I always find the most interesting stuff at Simons is there house brands which have a bit more of a quirky look. IE not the stuff every American mass retailer is turning out.

[officedweller]

I wonder when they'll remove the Nordstrom signs?

I know that the signage is pointing to the Robson & Granville mall entrance,
but it's a pretty circuitous route to Holt Renfrew.

Pics by me today.

[theKB]

Has there been any grumblings on when the hotel project will restart? Vancouver is in desperate need of hotel room space especially looking at the insane prices over the summer.

Second, any rumors floating around on a nordstrom replacement yet (beyond speculations / wishes etc)

[jollyburger]

Originally Posted by theKB

Has there been any grumblings on when the hotel project will restart? Vancouver is in desperate need of hotel room space especially looking at the insane prices over the summer.

Second, any rumors floating around on a nordstrom replacement yet (beyond speculations / wishes etc)

There still seems to be workers actively doing work on the site so I don't think anything has changed.

[madog222]

The development permit still isn't issued and no building permit application has been submitted (besides the one for demo). Perhaps they are waiting to confirm the hotel operator, or just need to complete destructive investigation to confirm the detailed design.

[C3YVR]

The next big question should be will the hotel be open for World Cup?
At this point it will be very tight, and I think highly unlikely.
If it turns out to be true the level of incompetence at CF is unimaginable, but it is now up to them to show they have any skill to get a project done.

[Doodler]

Originally Posted by C3YVR

The next big question should be will the hotel be open for World Cup?
At this point it will be very tight, and I think highly unlikely.
If it turns out to be true the level of incompetence at CF is unimaginable, but it is now up to them to show they have any skill to get a project done.

I'm not sure if my response should be in this thread or the rumours thread, but I heard form a friend of mine who is very aware of the goings on in the Vancouver hotel Industry, that CF was in talks with a major operator, but they couldn't come to an agreement. If this is the case, and even if a new operator was retained tomorrow, this project is many, many years away from opening.

[C3YVR]

From what I have heard, it was W Hotels but they felt they were being treated as a retailer and not a hotel operator (and were asked for a large amount of capital) and left CF long ago.

[Doodler]

Originally Posted by C3YVR

From what I have heard, it was W Hotels but they felt they were being treated as a retailer and not a hotel operator (and were asked for a large amount of capital) and left CF long ago.

That may be true, but what I heard was more recent, and with another flag - still in the luxury segment

[theKB]

Originally Posted by C3YVR

From what I have heard, it was W Hotels but they felt they were being treated as a retailer and not a hotel operator (and were asked for a large amount of capital) and left CF long ago.

The original rumor was Ritz Carlton and that was someone fairly well placed.

Would we even see this open by 2026 for the world cup? Just over two years.

[s211]

Originally Posted by C3YVR

If it turns out to be true the level of incompetence at CF is unimaginable, but it is now up to them to show they have any skill to get a project done.

Do you work in the commercial real estate sphere? Or have firsthand knowledge? If not, claiming unimaginable incompetence is at best deserving of .

Disclaimer: I don't work for CF.

[theKB]

I wonder which project is more pressing for them, the hotel or the replacement of nordstrom. Both represent a significant amount of revenue (and expense).

[jollyburger]

Originally Posted by theKB

I wonder which project is more pressing for them, the hotel or the replacement of nordstrom. Both represent a significant amount of revenue (and expense).

The retail spot will be easier to fill but if both face 2-3 years of construction time until they can open then it's probably not a question of which is a higher priority.

Reconstructing the mall into several smaller footprints would likely enable Cadillac Fairview to charge more per square foot than if it leased the entire space to one tenant.

Doing the construction work to split up the mall, however, would likely cost tens of millions of dollars, and could take two years or more.

https://www.westerninvestor.com/british-...rtar-as-nordstrom-abandons-space-6839196

[Vin]

Originally Posted by s211

Do you work in the commercial real estate sphere? Or have firsthand knowledge? If not, claiming unimaginable incompetence is at best deserving of .

Disclaimer: I don't work for CF.

If a perfectly good hotel building with the potential to make millions for an organization aiming to increase retirement funds for the wonderful teachers of Ontario is left vacant for 3.5 years in a city seriously lacking hotel suites, if it's not incompetence, what other term can be used to describe it?

[Changing City]

Originally Posted by Vin

If a perfectly good hotel building with the potential to make millions for an organization aiming to increase retirement funds for the wonderful teachers of Ontario is left vacant for 3.5 years in a city seriously lacking hotel suites, if it's not incompetence, what other term can be used to describe it?

If it was a 'perfectly good hotel building', why would CF spend tens of millions of dollars on fixing it up?

[officedweller]

Originally Posted by Changing City

If it was a 'perfectly good hotel building', why would CF spend tens of millions of dollars on fixing it up?

CF wanted first class excellence, Four Seasons merely provided 'perfectly good'. Maybe they burned themselves wanting too much?

[whatnext]

Originally Posted by officedweller

CF wanted first class excellence, Four Seasons merely provided 'perfectly good'. Maybe they burned themselves wanting too much?

One has to wonder how much revenue CF has foregone since Four Seasons closed.

[jollyburger]

Originally Posted by officedweller

CF wanted first class excellence, Four Seasons merely provided 'perfectly good'. Maybe they burned themselves wanting too much?

I wonder what happened with that 2017 lawsuit about the condition of the hotel.

They renewed the original lease back around 1998/2000 but I wonder if their lease terms weren't as favourable as they could get with a new operator (assuming they find one)

[C3YVR]

Originally Posted by officedweller

CF wanted first class excellence, Four Seasons merely provided 'perfectly good'. Maybe they burned themselves wanting too much?

Don't also forget the original hotel had about 400 rooms but when it closed it was around 370 rooms and suites.
The CF proposal is down to 259 (likely since most new luxury hotels are about that size). But the city loses rooms no matter what, and do the math to figure out what they will have to charge for 259 rooms vs the old 370 to make up the revenue lost from 110 missing rooms.
CF is not really doing the city any favors with its new proposal, and it only hurts the city the longer all those rooms remain dark.

[s211]

I shouldn't have to remind anybody bemoaning CF delays that there was a little thing called COVID? The impact on pretty much ALL hotel proposals was massive on a world-wide basis.