Regina Construction III - Page 44

BrutallyDishonest · #**861** Posted **Jul 9, 2014, 2:03 AM**

According to Avison Young Regina's actual rate in all downtown was 9.06%.

According to Colliers has Regina's actual downtown rate was 10.95%.

They use different methodologies but neither of these are anywhere near low and these are not projected rates, but actual.

Also look at where they agree: Avison has B-class space at 18.21% vacancy. Colliers has 14.28% vacancy for B-class.

Most importantly, Avison has vacant square feet at 375,000. Colliers has it at 409,625 square feet. That's like 3 SGI towers worth of space available.

Where do you think that's going to come from?

jigglysquishy · #**862** Posted **Jul 9, 2014, 2:28 AM**

It'll come in time. That same Avison report predicts a 2.5% city population growth rate over the next five years. The 2014 city population is somewhere between 215,000-220,000 (we only have concrete CMA data and have to do some math to figure out the city population).

That gives the city of Regina a 2020 population of 250,000-260,000. That's some massive growth and will certainly result in some significant downtown office demand. That's also ignoring the insane growth in the metro .(White City went from 1900-3300 people in about 30 months. It could easily hit 6000-8000 people by 2020. Those people have to work somewhere..

Despite the economy seemingly slowing down, it's still growing faster than pretty much everywhere else in the country. Five years from now, the downtown office demand could completely change.

SkydivePilot · #**863** Posted **Jul 9, 2014, 3:43 AM**

Quote:

Originally Posted by Stormer

It looks like the Ag Place Tower Crane will be full height to start - i.e. taller than Tower III.

The cab will be approximately 250'; boom will be 450'.

It'll be up there!!!

Nathan · #**864** Posted **Jul 9, 2014, 3:54 AM**

Quote:

Originally Posted by jigglysquishy

It'll come in time. That same Avison report predicts a 2.5% city population growth rate over the next five years. The 2014 city population is somewhere between 215,000-220,000 (we only have concrete CMA data and have to do some math to figure out the city population).

That gives the city of Regina a 2020 population of 250,000-260,000. That's some massive growth and will certainly result in some significant downtown office demand. That's also ignoring the insane growth in the metro .(White City went from 1900-3300 people in about 30 months. It could easily hit 6000-8000 people by 2020. Those people have to work somewhere..

Despite the economy seemingly slowing down, it's still growing faster than pretty much everywhere else in the country. Five years from now, the downtown office demand could completely change.

We've also been squeezed for office space for a while now, at least up until the completion of Hill Tower III, so we haven't had a market where new companies could move in or existing could expand easily (especially when we were going through the beginning of the last population/economic boom). It will be interesting to see how things develop with the excess space available.

BrutallyDishonest · #**865** Posted **Jul 9, 2014, 3:58 AM**

The issue isn't that the space won't be filled ever, the issue is that the space won't be filled for years. You have to consider that there is more office space being built right now which make make the rate go even higher.

The office market will not recover for some time, despite the city growing. That's Regina's new reality.

thefourthtower · #**866** Posted **Jul 9, 2014, 4:31 AM**

Quote:

Originally Posted by jigglysquishy

It'll come in time. That same Avison report predicts a 2.5% city population growth rate over the next five years. The 2014 city population is somewhere between 215,000-220,000 (we only have concrete CMA data and have to do some math to figure out the city population).

That gives the city of Regina a 2020 population of 250,000-260,000. That's some massive growth and will certainly result in some significant downtown office demand. That's also ignoring the insane growth in the metro .(White City went from 1900-3300 people in about 30 months. It could easily hit 6000-8000 people by 2020. Those people have to work somewhere..

Despite the economy seemingly slowing down, it's still growing faster than pretty much everywhere else in the country. Five years from now, the downtown office demand could completely change.

Just as years back with the empty office tower space , they were converted into condos great idea , like the td bank tower , the old CIBC tower are all nice condos some people don't have clue , oh my god the sky is falling , let's Jump off that empty office tower Stella , maybe rates have to come done , all kinds of things can come in to play ,clueless in Regina

SkydivePilot · #**867** Posted **Jul 9, 2014, 8:03 AM**

Quote:

Originally Posted by thefourthtower

All it takes is a few companies to expand or set up shop , the good thing is the space is available they don't have to wait to build it

That's exactly right.

Planner2008 · #**868** Posted **Jul 9, 2014, 9:40 AM**

I'm not sure if this has been posted, but there are sold signs at the old Canadian Tire on South Albert! I wonder what's coming?

Stormer · #**869** Posted **Jul 9, 2014, 2:33 PM**

Quote:

Originally Posted by Planner2008

I'm not sure if this has been posted, but there are sold signs at the old Canadian Tire on South Albert! I wonder what's coming?

http://forum.skyscraperpage.com/showpost.php?p=6620204&postcount=714

thefourthtower · #**870** Posted **Jul 9, 2014, 2:40 PM**

the leader post is reporting that cp is not delayed , but is going to be built watch out for that tower crane

Drofmab · #**871** Posted **Jul 9, 2014, 3:02 PM**

Quote:

Originally Posted by thefourthtower

the leader post is reporting that cp is not delayed , but is going to be built watch out for that tower crane

LOL!

[dammit - I just shot coffee out my nose]

Chorduroy · #**872** Posted **Jul 9, 2014, 4:30 PM**

Quote:

Originally Posted by thefourthtower

the leader post is reporting that cp is not delayed , but is going to be built watch out for that tower crane

Not sure how that dude can say with a straight face that the project isn't delayed. Talk about delusional.

Dan0myte · #**873** Posted **Jul 9, 2014, 4:38 PM**

The Neil Balkwill Civic Arts Centre and the Regina Senior Citzens Centre are finally getting College Avenue access today. There's no longer a need to drive down 15th to get to the access road.

Festivus · #**874** Posted **Jul 9, 2014, 7:01 PM**

Quote:

Originally Posted by Dan0myte

The Neil Balkwill Civic Arts Centre and the Regina Senior Citzens Centre are finally getting College Avenue access today. There's no longer a need to drive down 15th to get to the access road.

I never understood why that was built that way to begin with, so it's a great correction.

Drofmab · #**875** Posted **Jul 9, 2014, 8:03 PM**

Quote:

Originally Posted by Festivus

I never understood why that was built that way to begin with, so it's a great correction.

Wonder what ever happened to the house that was planned (rezoning request)to the north of this access road. It was an odd placement before this access road was built - becomes even stranger now that the road's there.

http://forum.skyscraperpage.com/showthread.php?p=5924676&highlight=elphinstone#post5924676

Dan0myte · #**876** Posted **Jul 9, 2014, 9:17 PM**

Quote:

Originally Posted by Drofmab

Wonder what ever happened to the house that was planned (rezoning request)to the north of this access road. It was an odd placement before this access road was built - becomes even stranger now that the road's there.

http://forum.skyscraperpage.com/showthread.php?p=5924676&highlight=elphinstone#post5924676

Turns out the city is rezoning the land so that it could be sold to the people who own 2370 Elphinstone (Source: I know them). They are planning on tearing the house down and building their 'dream home' there and the two 25' lots will give them the space they need. Sounds ideal as there is nothing but green space to the south of them, should be a nice home.

Drofmab · #**877** Posted **Jul 9, 2014, 9:20 PM**

Quote:

Originally Posted by Dan0myte

Turns out the city is rezoning the land so that it could be sold to the people who own 2370 Elphinstone (Source: I know them). They are planning on tearing the house down and building their 'dream home' there and the two 25' lots will give them the space they need. Sounds ideal as there is nothing but green space to the south of them, should be a nice home.

That makes a whole lot more sense than another house - access to your friends' garage would essentially have been cut off... not to mention general crowding to accomodate a tiny house.

Dan0myte · #**878** Posted **Jul 9, 2014, 9:24 PM**

The next thing I expect to see at College & Elphinstone are a set of traffic lights. This may be coming in the distant future but with this new driveway access to the Neil Balkwill, being a bus route and experiencing how hard it is to turn south from College some days during rush hour, I wouldn't be surprised to start seeing light posts start going up one of these days.

BrutallyDishonest · #**879** Posted **Jul 10, 2014, 2:35 AM**

Quote:

Originally Posted by Stormer

http://forum.skyscraperpage.com/showpost.php?p=6620204&postcount=714

3S Health was trying to lease the building. The building has now sold to a development group.

NA8310 · #**880** Posted **Jul 10, 2014, 3:08 AM**

Quote:

Originally Posted by sask1982

There is a fence up behind Pier 1/Co-Op right on the corner of Prince of Wales & Vic. Anyone know what's happening?

^ In regards to above (Vic Square), that, combined with the new Gold's will be two awesome new facilities for the people in that area.

The Co-op is adding a 10 bay Wand/Automatic car wash to their building.