Saskatoon Construction

[swilley]

According to THIS a new 180,000+ sq' office tower is planned at 275 2nd Ave, to be finished December 2010

[drm310]

This must be the current Folk's Finer Furs location (279 2nd Ave S). 275 2nd Ave N would be the former Bayside building, and I know of no plans to redevelop it.

Originally Posted by swilley

According to THIS a new 180,000+ sq' office tower is planned at 275 2nd Ave, to be finished December 2010

[The Bess]

yes the SP article says 275 2nd ave. south.

[kgc087]

Originally Posted by drm310

This must be the current Folk's Finer Furs location (279 2nd Ave S). 275 2nd Ave N would be the former Bayside building, and I know of no plans to redevelop it.

About two months ago I posted some info on this space. I know a business owner along 2nd Ave. South and they said that a developer purchsed the gravel lot and levelled parking lot across from the midtown as well as folks finer furs and a few buildings beside it and were making their way down but one of the businesses closer to folks finer furs refused to sell meaning that they wouldnt continue buying up the businesses in that area. So then they informed me that there were several business men continually in the alley and people surveying the area, as well there was a statement on the news released that there would be a class A office development going up in this region. We figured around 15-20 stories.

There is no set guidelines for class A developments, it differs from city to city, but the overall trend from city to city with class A development is that the buildings are very attractive and generally this is your higher end office space. I hope they demolish that hideous parkade, LET IT BURN! A beautiful glass high rise with some stellar masonry accents would be perfect in that space.

[kgc087]

Rents rise for downtown office space


By Joanne Paulson, The StarPhoenixJanuary 28, 2009 8:01 AMBe the first to post a comment

Rents for downtown office space jumped 20 per cent in 2008, as vacancy rates fell to historic lows, Colliers McClocklin reported Tuesday.

Class A space, particularly, was in high demand, with vacancies falling to a present rate of 0.79 per cent from 2.34 per cent in the second quarter, the Saskatoon real estate firm said.

Class A space can command nearly $30 per square foot -- well up from $20 in 2007 -- but that's still the most affordable rate among 10 cities surveyed.

"It's as healthy a market situation as we've been in in 15 years," Tom McClocklin, president of Colliers McClocklin, said in an interview.

McClocklin entered the real estate industry in 1996, at a time when downtown office vacancy was 26 per cent. It began to fall shortly afterward and hovered around 10 per cent until about 2005. The last couple of years saw considerable absorption as the economy strengthened.

More than 120,000 square feet of office space was absorbed by businesses in 2008, substantially higher than the annual average of 20,000 to 25,000 square feet in previous year. Today, the overall vacancy rate in the downtown core is 4.52 per cent, still higher than in Regina (1.1 per cent), Edmonton (3.95 per cent) and Calgary (3.49 per cent.)

"Anytime an office vacancy rate downtown is six to eight per cent, it's considered healthy," said McClocklin.

Quality vacancy is a little on the tight side, but some new office space is coming on stream.

Discovery Plaza on Third Avenue, for example, will add 50,000 square feet of space when it opens, likely this summer. River Landing will eventually add some space, and new space will soon be available in the CIBC and Birks buildings downtown. The two buildings are converting business centre space to large single tenant space, said the report. The last buildings with office space to be built in the downtown were the HSBC building and the Princeton and PCS towers.

Another developer is considering constructing an office building at 275 Second Ave. South.

While rents have risen in the last year, they are still below Regina's rate of $34, Edmonton's $47, Calgary's $59 and Vancouver's $51.

Saskatoon Class B space rents for $21 to as high as $27 per square foot (occupancy costs included), while Class C space rents for $16 to $25.

The market began to stabilize in the last quarter, as recession concerns began to seep into the Saskatoon area. "However, given the global economic slowdown and the uncertainty in the demand side of the equation, the rate of increase will likely be slower than previously forecasted," said the report.

Still, McClocklin says rental rates will remain in the $30-per-square-foot range for Class A space in 2009.

[email protected]

© Copyright (c) The StarPhoenix

[kgc087]

A bit off topic from the office space, but i know several people on here are avid public transit users here, I was just wondering if anyone else has noticed a definate increase in the amount of people utilizing the transit services?

[Ruckus]

180,000 sq/ft office building..with a likely floor plate size, 10-20 floors???

An exciting and positive announcement given our current state of affairs.

Originally Posted by kgc087

A bit off topic from the office space, but i know several people on here are avid public transit users here, I was just wondering if anyone else has noticed a definate increase in the amount of people utilizing the transit services?

I would say yes there is an increase, but only during day time hours (people going to work/school).

Outside of those hours, and especially on weekends, I can't say for certain that there has been an increase (observations I made while driving my car during evening hours).

EDIT: I often take the bus to and from school during the day. I utilize a Ford Focus during evenings and weekends for extracurricular activities and getting to and from my place of employment.

[swilley]

Originally Posted by SASKFTW

180,000 sq/ft office building..with a likely floor plate size, 10-20 floors???

For comparison, Saskatoon Square is 200,000 sq.ft. - 16 floors
Source

[Ruckus]

Originally Posted by swilley

For comparison, Saskatoon Square is 200,000 sq.ft. - 16 floors
Source

That's a fair comparison.

I am doubtful Edgar Properties (owners of 1st/2nd Ave. properties) will seek to demolish the Midtown Galleria Parkade, unless structural issues are a concern.

Here are some reference photos from a few months back...





They will likely build something to span the entire block fronting 20th Street from the corners of 1st and 20th to 2nd and 20th...just a guess, and any tower portion would require a set back (3m?) from the property line (this could increase the overall height, again, depending on floor plate size).

[macca]

There is a lane serving that block.

[madsad]

Originally Posted by SASKFTW

They will likely build something to span the entire block fronting 20th Street from the corners of 1st and 20th to 2nd and 20th...just a guess, and any tower portion would require a set back (3m?) from the property line (this could increase the overall height, again, depending on floor plate size).

That doesn't include Flint, does it?

----

Most Stoon Transit routes in the morning and afternoon peaks are way beyond capacity, and I've noticed many pass-ups (or drivers threatening pass-ups unless standees shuffle back). Crush loads are de rigeur on the DART (and regular) routes headed south and east from the Uni in the afternoon. The current strategy of throwing a few random tripper extras in front of regular runs is not working, and service levels are going to have to be increased, as well as running times. This practice of having a daytime schedule run all day is so small-town. It's time for Stoon Tran to grow up and recognize that traffic demands and travel times are higher in peak hours than during base times.

[kgc087]

This sure does not include Flint! I think it only goes up to where the asian resteraunt was. But i know 100% Flint is not included

[acron]

[Ruckus]

Originally Posted by acron

the building is planned for 12 stories at the moment, but it is still in the planning stages. could potentially be higher

Oh? I trust your source is more than a rumor?

I was thinking Edgar might consider something similar to recently completed 121 Research Drive (5 storey 151,000 sq/ft)... Source

The large floor plates would span the entire block, rather than small floor plates limited to 50% of the site...

Do they intend to integrate a retail/residential development as well? OR...Are they setting aside a portion of the property for future office development?

Thank you for the information.

[Ruckus]

Originally Posted by macca

There is a lane serving that block.

True, but, if our current downtown office development is approved/handled under a similar attitude/philosophy as our past downtown development, back lane access can be removed/restricted (an approach I am not 100% supportive of).

[Ruckus]

Originally Posted by kgc087

This sure does not include Flint! I think it only goes up to where the asian resteraunt was. But i know 100% Flint is not included

You're correct, they did not purchase the Flint property...I may have incorrectly highlighted it in the above image.

[Ruckus]

Originally Posted by madsad

That doesn't include Flint, does it?

----

Most Stoon Transit routes in the morning and afternoon peaks are way beyond capacity, and I've noticed many pass-ups (or drivers threatening pass-ups unless standees shuffle back). Crush loads are de rigeur on the DART (and regular) routes headed south and east from the Uni in the afternoon. The current strategy of throwing a few random tripper extras in front of regular runs is not working, and service levels are going to have to be increased, as well as running times. This practice of having a daytime schedule run all day is so small-town. It's time for Stoon Tran to grow up and recognize that traffic demands and travel times are higher in peak hours than during base times.

Hopefully the new articulated buses (2 or 3 for DART routes IIRC) can address capacity issues. Increasing frequencies for select routes during peak times would also support the increase in demand, and likely attract new riders as well as maintain current levels of ridership.

FWIW, I ride from the west, which IMO has not experienced the same increases in ridership as the east. I have never witnessed a pass-up, though maximum capacity is almost always achieved upon reaching the Downtown terminal, and additional pick-ups on 25th Street (the morning commute to the U).

Afternoon ridership is more evenly distributed, I have never witnessed a pass-up, or even maximum capacity on any of my trips home.

[kgc087]

Originally Posted by SASKFTW

Hopefully the new articulated buses (2 or 3 for DART routes IIRC) can address capacity issues. Increasing frequencies for select routes during peak times would also support the increase in demand, and likely attract new riders as well as maintain current levels of ridership.

FWIW, I ride from the west, which IMO has not experienced the same increases in ridership as the east. I have never witnessed a pass-up, though maximum capacity is almost always achieved upon reaching the Downtown terminal, and additional pick-ups on 25th Street (the morning commute to the U).

Afternoon ridership is more evenly distributed, I have never witnessed a pass-up, or even maximum capacity on any of my trips home.

I'm pretty much at the start of my route, the 80, through the eastside. Before it's even half way to the university terminal it is full and we pass everyone waiting, they now send two #80's and 1 special in the early morning.

[swilley]

Place Riel Construction Begins This Spring
Wednesday, 28 January 2009

The look of the U of S campus is going to change.

Place Riel will be undergoing some renovations and expansion.

Josie Steeves, Students Union President, says construction should start late March of early April and will continue for 18 months through the fall of 2010.

But before construction starts, space has to be located and organized for all those groups and businesses that will be temporarily relocated because of the construction.

The work is being done in phases, so everyone isn't displaced at once.

Steeves adds they are trying to be "green" as well.

They are working towards a LEED certified building. (Leadership in Energy and Environmental Design)

A LEED certification verifies that a building project is environmentally responsible .

Source

[acron]