Edmonton Construction 11 (November 2011) - Page 357

240glt · #**7121** Posted **Apr 25, 2013, 2:38 AM**

^^ Real Estate Management

^ I can't say.. but having said that I've got no idea what Morguard is up to

Coldrsx · #**7122** Posted **Apr 25, 2013, 5:02 AM**

Quote:

Originally Posted by 240glt

Heard a rumour today that Jasper-101 will be put up for sale as soon as the redevelopment is complete. Apparently GE wants out.

Also heard that a large REM firm is looking for 500+ units of higher quality, new resi. Up for consideration apparently are Mayfair, (no it won't affect the design of the north building), a portion of Century Park and Edgewater. They may also be looking at doing something at CCA lands.

Correct.

Sounds about right.

CMD UW · #**7123** Posted **Apr 25, 2013, 5:50 AM**

Quote:

Originally Posted by 240glt

Heard a rumour today that Jasper-101 will be put up for sale as soon as the redevelopment is complete. Apparently GE wants out.

Also heard that a large REM firm is looking for 500+ units of higher quality, new resi. Up for consideration apparently are Mayfair, (no it won't affect the design of the north building), a portion of Century Park and Edgewater. They may also be looking at doing something at CCA lands.

Not sure about GE, but there are many, MANY REM hunting for that type of asset in this city. Certainly not new news here.

rapid_business · #**7124** Posted **Apr 25, 2013, 2:21 PM**

Is GE's First & Jasper fully leased? Seems like a good potential flip for them if so.

Coldrsx · #**7125** Posted **Apr 25, 2013, 2:30 PM**

^yes it is... and I have also heard it is for sale.

240glt · #**7126** Posted **Apr 25, 2013, 3:41 PM**

^ I heard Apega pulled out

brenGT2 · #**7127** Posted **Apr 25, 2013, 5:10 PM**

Here are a few photos I took of the Pearl today from ETLC at the University of Alberta. I won't be getting any more photos from this angle, as I have now graduated with my degree in Materials Engineering. While I'm excited about this, it means I'll no longer have access to the building regularly. Enjoy these "end of an era" photos!

Pearl and ICE Construction Update: April 25, 2013 by brenGT2, on Flickr

Pearl Construction Update: April 25, 2013 by brenGT2, on Flickr

Xelebes · #**7128** Posted **Apr 25, 2013, 5:31 PM**

It is stunning how many angles you can the Pearl. Macewan on 109th, South Campus and so on.

hilman · #**7129** Posted **Apr 25, 2013, 5:32 PM**

Love the height of the Pearl, can't wait for the glass to go up, the small portion that is installed looks pretty hawt

CanadianCentaur · #**7130** Posted **Apr 25, 2013, 5:35 PM**

You can definitely see the Pearl from RATT. I almost didn't see that from there due to a snowstorm until the last minute.

oiler-dude · #**7131** Posted **Apr 25, 2013, 5:37 PM**

Kinda cool, from that angle the condo building in front of the Pearl (Lessard House, I think?) lines up perfectly, making it look like a large podium.

Pearl is gonna look amazing from that angle.

Hallsy's Toupee · #**7132** Posted **Apr 25, 2013, 8:14 PM**

Quote:

Originally Posted by 240glt

^ I heard Apega pulled out

Were they one of the tenants slated for First & Jasper?

240glt · #**7133** Posted **Apr 25, 2013, 10:56 PM**

^ Correct. I'm not sure they are pulling necessarily, just that they are currently looking for space, which seems a bit odd.

s211 · #**7134** Posted **Apr 25, 2013, 11:53 PM**

Quote:

Originally Posted by 240glt

^ Correct. I'm not sure they are pulling necessarily, just that they are currently looking for space, which seems a bit odd.

Could be looking for project space elsewhere. Pretty sure their lease at Jasper/101 is inked.

Coldrsx · #**7135** Posted **Apr 26, 2013, 2:30 AM**

$850,000,000.... Wow

http://www.edmontonjournal.com/entertain...+centre+faces+hurdles/8296851/story.html

MalcolmTucker · #**7136** Posted **Apr 26, 2013, 3:45 AM**

Yeah, not going to happen. I think Calgary's Epcor renos, the first go round came in around that level, were promptly scrapped. I doubt they could raise the money to pay off the loan. What kind of space is going to generate enough return to pay off $700 million. Take out $60 million for self supporting parking and you still have a huge hole. From my memory the project didn't have a hotel or office component.

The loan payment for edit:20 years would be $35,694,769.10 if from the provincial government through the City that would need to be tenant supported, assuming the tenants could keep the facility cash flow positive on the operating side too.

I always thought the city was missing more theatres in the small venue class (300-500) and the 5000-8000 range - do they even have the right products, or just what they know is used know since they already exist? Or is the goal to cannibalize the Jubilee and move those performances downtown?

GreenSPACE · #**7137** Posted **Apr 26, 2013, 4:06 AM**

^Interesting numbers. Is super ambitious project. Not sure it's the right project or not, but I can see why they want to be included in the CRL (or some of the streetscaping). If you're spending that kind of money, better be amazingly well designed and executed.

Don't think they're looking to cannibalize the Jubilee. Jubilee is already overbooked and still seats more (2500) than what they're proposing.

MalcolmTucker · #**7138** Posted **Apr 26, 2013, 4:19 AM**

Is there more information on the programming of this available? For the spaces proposed the cost seems crazy. I know don't want to cheap out, but can have nice things that are still reasonable.

Hallsy's Toupee · #**7139** Posted **Apr 26, 2013, 4:36 AM**

I've always thought that the Rossdale plant would be a great place for a performing arts venue. Surely that would be much cheaper than 3/4 billion bucks.

Hallsy's Toupee · #**7140** Posted **Apr 26, 2013, 4:41 AM**

On the other hand, I doubt the 3/4 billion project would be all done in one go...I would think this would be built in multiple stages