Edmonton Construction 11 (November 2011)

[Jasper and one o nin]

Originally Posted by Coldrsx

Perhaps the shortfall in both is other forms of funding/debt/order of govt?

The CAT building at NAIT was estimated at $229 million. So the shortfall is closer to $100 million. NAIT has strong support from Industry. Both the HP Centre and Spartan Centre were funded primarily by private donations.

[Coldrsx]

$100,000,000 shortfall on NAIT, on Norquest, on the arena....


I kid I kid

[Rocket252]

This 100 mill is turning into a running gag that is embarrasing to the city and Mayor Mandel.

[Keats82]

Originally Posted by Rocket252

This 100 mill is turning into a running gag that is embarrasing to the city and Mayor Mandel.

To be perfectly frank - "Says you."

Be mindful that this isn't an Edmonton-only phenonmenom. I find it hilarious how everyone sits in their arm chairs and laughs at technical details or sticking points as if they have the answer. Things like this happen all the time across a variety of situations and fields - in business, governance, personal finances, etc.

Holes will be filled via the means we have at the time. Even if the city borrows the money, the $100 million question will be answered by increased profits to pay down said loan. And that's just one of many potential solutions to this problem.

[Black Star]

It's only embarrassing for people that don't read so (good) lol. The money IMO was always coming from Edmontons share of MSI. Either now or down the road.

[Rocket252]

Originally Posted by BLACK STAR

It's only embarrassing for people that don't read so (good) lol. The money IMO was always coming from Edmontons share of MSI. Either now or down the road.

The city appears not to admit it is MSI in anticipation of obtaining another source of funding.

[ciudad_del_norte]

Where exactly the funding comes from, MSI or otherwise remains to be seen. I think it has been clear for a while that if any money is to come from the province, putting it towards the arena will likely involve some...creativity. Politically, it is the best for Mandel and Council to ensure it doesn't look like the money is coming at the expense of any other city projects, so using this year's MSI isn't going to look good. That being said, it is in the best interest of the province to have said money be granted in a way that the City could use it for other projects, that way they can avoid (or try to) the accusation of funding the arena, a political mess they smartly want to avoid. If there is a plan worked out, it certainly wasn't going to be an "Edmonton Arena" line item on the budget. Even though the media is acting like that is what Mandel was expecting, his recent comments on the matter suggest otherwise.

[AngryWhiteMan]

I think Edmonton has some breathing room as far as MSI and borrowing is concerned:

http://www2.canada.com/calgaryherald/iphone/news/latest/story.html?id=7729411

[Black Star]

That's what I would have said also knowing full well the Alberta Govt is not gonna front any money to help a hockey billionaire make more cash. Never was gonna happen. But a good play by the City to deflect the true way this is going to be funded. This is only my opinion and I approve this message!

[240glt]

Originally Posted by Rocket252

The city appears not to admit it is MSI in anticipation of obtaining another source of funding.

The optics are also very bad.

MSI funding is already spent for years in the future. So if they are to allocate those funds even further out, then the city is going to have to carry the cost of borrowing the money. Then the cost goes up again.

[Jasper and one o nin]

News Release regarding NAIT's CAT building

http://www.nait.ca/44779_90969.htm

[Coldrsx]

Fox I

West sidewalk closed, hoarding up on the east and north... expect a crane soon.

[SHOFEAR]

Originally Posted by Coldrsx

Fox I

West sidewalk closed, hoarding up on the east and north... expect a crane soon.

wasn't the hole not finished yet? how do they put up a crane while they are still digging the parkade? Unless the crane goes on top of where fox 2 goes....

[240glt]

^ Mostly above ground -parking isn't it ?

They're close to two levels down it looks like

[Coldrsx]

^they are. I suspect they are close if not at at the bottom.

[Harrison]

Originally Posted by 240glt

^ Mostly above ground -parking isn't it ?

They're close to two levels down it looks like

So structured parking hidden behind a brick podium, like the Icons I'm assuming?

[Coldrsx]

^correct.

2down, 4 or 5 up.

[Harrison]

edmontoncondoshsdpropertiesdesign by Nosirrah11, on Flickr

Regency's new project on 123st/105ave, "High Street District Properties". Doesn't look terrible, but not amazing either.

[Coldrsx]

^why no townhouse?

[240glt]

Looks like Gene's 107st project is moving again