Winnipeg Construction VIII - Page 34

Wigglez · #**661** Posted **Sep 7, 2013, 4:40 AM**

Given that Safeway is now owned by Sobeys I'm not sure how likely that it will be a Safeway in this building. Sobeys would probably want their name on this amazing project, and I'm not sure if they have any plans on expanding the Safeway brand at all.

JamieDavid Exchange · #**662** Posted **Sep 7, 2013, 5:30 AM**

Quote:

Originally Posted by steveosnyder

Just a silly question -- are you worried that the saturation of the area with condos will decrease the value of your unit in Ashdown? With the number in the east exchange increasing and now glasshouse and this it seems like the market may force prices down.

The Ashdown units are very large in size. Nothing new being built will ever compare in size. But if some are built 1, 500 sq feet+ in size now, those will be the ones selling for $1, 000, 000 and up. We paid a quarter of that two years ago for 1, 550 sq feet with heated underground parking. So, I am not worried at all that my values will drop. Having such a large unit downtown will turn into a luxury one day.

DonaldSmith · #**663** Posted **Sep 7, 2013, 12:20 PM**

These picture are not the greatest but they will give you an idea of what is currently going on at the Yards at fort Rouge in Lord Roberts.

cllew · #**664** Posted **Sep 7, 2013, 1:02 PM**

Nice to see that Mike Holmes company is actually developing a project. Last I heard his eco friendly one in Okotoks Alberta was being stalled by the local city council.

DancingDuck · #**665** Posted **Sep 7, 2013, 1:12 PM**

Quote:

Originally Posted by DonaldSmith

I really hope there's another letter at the beginning of "Asswood"

Cyro · #**666** Posted **Sep 7, 2013, 2:27 PM**

^^ Thx for the Updated pics DS nice to see some progress.

Reg: Fortress: Someone earlier, Biff I believe,sorry if incorrect, said he felt they had really done thier homework.

With min, 100 to 200 units potentially spoken for by interested parties, I can see why thier confidence level is high. They appear to have researched Winnipegs market well.

Quote:

Rathore said they've received strong interest from individual and institutional investors in both Winnipeg and Toronto who are interested in buying condos and renting them out for cash flow.

He said one real estate investment trust and a private investment firm said they're interested in buying 50 to 100 each because the investment return on residential rental properties here is high and the apartment vacancy rate is low.

Updated Article
http://www.winnipegfreepress.com/business/down-tower-222781881.html

Riverman · #**667** Posted **Sep 7, 2013, 2:43 PM**

Quote:

Originally Posted by JamieDavid Exchange

We paid a quarter of that two years ago for 1, 550 sq feet with heated underground parking. So, I am not worried at all that my values will drop.

Haha that's awesome. I wouldn't be worried either.

bomberjet · #**668** Posted **Sep 7, 2013, 3:38 PM**

Great stuff on the Fortress project. Should be a doozy!

Further to the condo market, Murray McNeill has another article in the free press today.

http://www.winnipegfreepress.com/busines...eal-estates-record-summer-222781971.html

BUSINESS
Winnipeg Free Press - PRINT EDITION
Booming condo sales help fuel real estate's record summer
By: Murray McNeill
Posted: 09/7/2013 1:00 AM | Comments: 0

Squire said another big story this year has been the strength of the local condominium market.

"Condos are just shooting the lights out," he said, noting sales were up 16.5 per cent in August and 14 per cent for the first eight months of the year. And while they still account for more than 70 per cent of all residential sales, sales of single-detached homes were up by a more modest six per cent in August, and were down four per cent year-to-date, he added.

He noted one of the three million-dollar-plus sales recorded last month involved a Waterfront Drive condo that sold for a princely $1.3 million.

While it wasn't the city's first million-dollar-plus condo sale -- two units in the complex at One Wellington Crescent previously surpassed that mark -- Squire said it's the first time a downtown condo has sold through the MLS for that kind of money.

Not sure what the total volume of condo sales downtown are, but its good to hear people are spending that kind of cash downtown.

bomberjet · #**669** Posted **Sep 7, 2013, 3:45 PM**

Also, didnt think The Yards was that far along. Really interested to see how that turnouts out. Suite layouts look fairly decent. Minus the crapper off the kitchen with storage off the crapper!

trueviking · #**670** Posted **Sep 7, 2013, 3:59 PM**

Quote:

Originally Posted by cllew

Nice to see that Mike Holmes company is actually developing a project. Last I heard his eco friendly one in Okotoks Alberta was being stalled by the local city council.

he's not the developer, he just puts his name to it for a fee.

anyone noticed how much cooler the media has been to fortress this time around?....do they feel jilted by the nothing to show announcement last time?...do they feel its too pie in the sky?

last time the mention of a project was lead story front page news...now it business section in the WFP and mid way through the newscast after the penguins extending their stay at the zoo.

there is decidedly less media hype this time around.

i wonder if they actually did buy the land...i've heard rumours that they have not....i don't totally buy the 'working on it for two years' thing...they hadn't done any due diligence on the site as of two months ago....if they've hired an architect it is just recently......showing up with a china rendering and nothing else still says to me they are throwing things at the wall.....I'm still not buying their story until they prove it to me....glossy 3d renderings can be done in a few days.

Cyro · #**671** Posted **Sep 7, 2013, 5:18 PM**

Quote:

Originally Posted by trueviking

anyone noticed how much cooler the media has been to fortress this time around?....do they feel jilted by the nothing to show announcement last time?...do they feel its too pie in the sky?

last time the mention of a project was lead story front page news...now it business section in the WFP and mid way through the newscast after the penguins extending their stay at the zoo.

there is decidedly less media hype this time around.

i wonder if they actually did buy the land...i've heard rumours that they have not....i don't totally buy the 'working on it for two years' thing...they hadn't done any due diligence on the site as of two months ago....if they've hired an architect it is just recently......showing up with a china rendering and nothing else still says to me they are throwing things at the wall.....I'm still not buying their story until they prove it to me....glossy 3d renderings can be done in a few days.

I enjoy you posts TV, you seem to look at both sides of a story and reserve judgement untill all the facts are in, something I learned to do in an investigator's capacity over many years. So I like hearing all informationn before deciding which way to go or feel.

Has the media been less involved in the 2nd installment of the fortress to build in Winnipeg story?
Maybe. But I've seen the story on all major news channels, the WFP has had articles and continuing updates as other publications, Sun, as well.

You would have a good grasp on if the media has cooled on the idea as you are invloved in it at times, and attend reveals, have knowledge that only a few would be able to obtain if not directly involved in the industry...in all due respect.

As a regular observer the project has recieved coverage from all the media outlets. I wouldn't have noticed it was a second thought in T.V. coverage, or it was not front page but in the buisness section.

As to rumours reg: land purchase,due dilligence,architect hiring,glossy renders, I personally cannot confirm/or deny them. I get my info from the "Media" and posters like yourself, who are involved in the industry.

One question, What proof will it take before you feel Fortress is on the level short of an anouncment that shovels are in the ground? Thanks for another perspective.

vid · #**672** Posted **Sep 7, 2013, 11:39 PM**

Quote:

Originally Posted by DancingDuck

I really hope there's another letter at the beginning of "Asswood"

What's wrong with Asswood?

CoryB · #**673** Posted **Sep 7, 2013, 11:43 PM**

With CentreVenture's involvement in the land acquisition I would not be surprised if there is an agreement in principal for the transfer to occur to Fortress but that will not happen until they reach a specific milestone, perhaps shovels in the ground, to avoid a new owner taking ownership and then not following through with development.

JamieDavid Exchange · #**674** Posted **Sep 8, 2013, 2:24 AM**

How come our 9+ proposed highrises are not listed in the Diagram section of this site??? All other major cities list and show diagrams of their proposed buildings with comparison to what they currently have.

roccerfeller · #**675** Posted **Sep 8, 2013, 5:00 AM**

Quote:

Originally Posted by JamieDavid Exchange

How come our 9+ proposed highrises are not listed in the Diagram section of this site??? All other major cities list and show diagrams of their proposed buildings with comparison to what they currently have.

it would be cool to see some rough comparisons of the proposals on the diagram page.

vid, you have some free time on your hands?

DancingDuck · #**676** Posted **Sep 8, 2013, 6:21 AM**

Quote:

Originally Posted by JamieDavid Exchange

How come our 9+ proposed highrises are not listed in the Diagram section of this site??? All other major cities list and show diagrams of their proposed buildings with comparison to what they currently have.

It would be great if whoever does the Toronto diagrams could do ours... No disrespect to vid of course

Biff · #**677** Posted **Sep 8, 2013, 2:53 PM**

Quote:

Originally Posted by trueviking

i wonder if they actually did buy the land...i've heard rumours that they have not....i don't totally buy the 'working on it for two years' thing...they hadn't done any due diligence on the site as of two months ago....if they've hired an architect it is just recently......showing up with a china rendering and nothing else still says to me they are throwing things at the wall.....I'm still not buying their story until they prove it to me....glossy 3d renderings can be done in a few days.

I understand what you are saying here but when I spoke with their senior VP he confirmed to be that they finally closed on the land last week and now officially own it. I guess he could be lying but it really didn't come across that way.

bomberjet · #**678** Posted **Sep 8, 2013, 3:01 PM**

So seems like unless everyone at Fortress is completely lying, this project has a good chance of going ahead. Why would they lie to have these details be brought out by the public (ie: folks on SSP, which we know the media and others watch)? Unless the condo sales are zero and no office or retail are sold, then okay, cancel it. But just seems like they're putting a lot of effort into this and constantly saying how it WILL go ahead. We know the past of some of the Fortress people, but would they really tarnish their rep just to look cool?

JamieDavid Exchange · #**679** Posted **Sep 8, 2013, 4:31 PM**

Talking about LED lighting to light up the top of the Fortress Development for special occasions, I sure hope the tower on the CMHR installed LED lighting and not just ordinary spotlights. Would be nice to see colour changes, especially during Winnipeg Pride Week and other occasions.

chrisallard5454 · #**680** Posted **Sep 8, 2013, 7:22 PM**

What strikes me is that Jawad Rathore himself stated that one real estate agency has committed to 100-150 condos alone to be used as rentals. If one company will commit to 1/3 of the total condos to be sold then there really shouldn't be a problem selling the rest. Maybe not to Condo owners specifically, but there are probably many investors who would be willing to rent.