Edmonton Construction 12 (December 2013)

[HomeInMyShoes]

Originally Posted by BLACK STAR

Ha...Its Godzilla.

This building is going to POP!

Not to forget the hotel condo tower. Looks to be 40 to 50 stories.

No, the Tuntex Sky Tower is Godzilla and still one of my favourite buildings.

Stantec is certainly going to loom and I like that idea.

[240glt]

Originally Posted by slipsandtangles

Better headlines: "Construction boom raises worry of leasing agents for aging properties" "Construction boom raises worry of people accustomed to a downtown filled mostly with surface parking".

Boo. Hoo. Yes, we should all be very very concerned about billions of dollars of investment in our downtown. I'm sick to death with worry.

There is significant concern no doubt. I'll take the word of industry pros over simpletons and career politicians

Our 30 year old building will still compete nicely though.. We do commercial property better than most, but for the next while, retention will be the name of the game

[Kevin_foster]

here may be a better iteration on impact. It's 1.5 times as wide as bell. Looks appropriate from the renderings.

[Makenosmallplans]

[QUOTE=slipsandtangles;6708988]Better headlines: "Construction boom raises worry of leasing agents for aging properties" "Construction boom raises worry of people accustomed to a downtown filled mostly with surface parking".

Exactly!!

It bothers me that the media will just a quote a fellow like this without doing some homework - for instance it would be really interesting to just put the facts out there around parking - once all of the current projects are complete, how many stalls will be available compared to the beginning of, say, 2012? i have heard there will be a net increase in spots as single level surface lots are replaced with multi level u/g. and i agree, i'm really ok with that being more expensive. take the LRT or ride a bike or do car share.

[Airboy]

So how many stalls are currently on the large parking lot. I know that the new parkade will have 1500 stalls.

[kcantor]

Originally Posted by 240glt

There is significant concern no doubt. I'll take the word of industry pros over simpletons and career politicians

Our 30 year old building will still compete nicely though.. We do commercial property better than most, but for the next while, retention will be the name of the game

well maybe i'm just an industry amateur then but the amount of space that will be added to our market is pretty insignificant in the scheme of things, particularly when you recognize the following:

1. absorption downtown has been restricted as much - if not more - by lack of product as much as lack of demand.

2. our office market does not consist only of downtown and the amount of inventory being added is not nearly as significant in relation to our overall market.

3. the loss of the surface parking and the potential for the price of parking to rise is a good thing, not a bad thing.

as for our "suffering a spate" , compare the bare beginnings of our downtown revival with this ( http://www.theglobeandmail.com/news/toro...zation-of-downtown-core/article20229182/ ):

Construction cranes will continue to dot Toronto’s skyline, with city council approving 755 storeys in new development this week, including three new office towers – a trend that underlines the increasing density in the downtown core and the need to plan transit and infrastructure to support it, says the city’s chief planner.

Toronto city council is meeting for the last time before the fall election – a fact that had developers rushing to get approvals before the months-long break. The result is that this week’s marathon meeting has given the green light to 6,887 new units and 377,900 square metres of non-residential development, according to figures from Toronto’s planning department.


Three office developments on Front and King streets that will add a total of 114 storeys of commercial space were approved, as were five mixed-use buildings and several condo towers.


Before the last vote on a development project was taken Wednesday afternoon, Councillor Joe Mihevc asked his colleagues to consider the magnitude of the growth they had approved in less than three days – an amount that by his estimates added up to a whopping $21-billion in development.

emphasis added...

[s211]

It would certainly help to better appreciate the Stantec building's proposed massing if there were a good quality, hi-res video fly-by / fly-around.

I can appreciate that the design work may have been down to the wire to make the announcement, but hopefully the development team can put something forward at some point.

[slipsandtangles]

Originally Posted by 240glt

There is significant concern no doubt. I'll take the word of industry pros over simpletons and career politicians

Our 30 year old building will still compete nicely though.. We do commercial property better than most, but for the next while, retention will be the name of the game

I'm not disputing whether there's significant concern among industry professionals. I may be a simpleton, but I understand that when a superior product is introduced into a market, entrenched players become "concerned". What I'm disputing is whether we should need to hear all of this self-interested moaning in the media every time someone announces a new investment downtown. Free markets mean competition - I'm not going to feel sad about the fact that Edmonton landlords now have to compete.

[Jaws]

Originally Posted by slipsandtangles

i'm not disputing whether there's significant concern among industry professionals. I may be a simpleton, but i understand that when a superior product is introduced into a market, entrenched players become "concerned". What i'm disputing is whether we should need to hear all of this self-interested moaning in the media every time someone announces a new investment downtown. Free markets mean competition - i'm not going to feel sad about the fact that edmonton landlords now have to compete.

+1.

[240glt]

Now have to compete ? Edmonton has always been a fiercely competitive market

It's also untrue that landlords have not been investing in their assets

New product is great. I love it, as someone who's worked on high rises for 15 years

But it's not a matter of 'too bad so sad'. Empty buildings are not good news for the city, for pension funds or for the CRL

Facts speak for themselves. I'll let the knuckle-draggers on c2e argue otherwise, but most of them don't have a clue what they are talking about

Ps... New product is not necessarily better product

It will help fix our tired looking skyline though

[bigcitydude]

Originally Posted by itom 987

^^^^Yes, you did a good job Kevin but the building is as wide as the bow. Thank god we don't have that skyscraper in our skyline.

^I know Calgarians seem to like The Bow but i think it's gawd damned — ugly!

[hilman]

New live feed of the City of Edmonton Tower construction



Bottom of page:
http://ead.ca/#/news-media.html

[CMD UW]

Originally Posted by cdnklc

well maybe i'm just an industry amateur then but the amount of space that will be added to our market is pretty insignificant in the scheme of things, particularly when you recognize the following:

1. absorption downtown has been restricted as much - if not more - by lack of product as much as lack of demand.

2. our office market does not consist only of downtown and the amount of inventory being added is not nearly as significant in relation to our overall market.

3. the loss of the surface parking and the potential for the price of parking to rise is a good thing, not a bad thing.

as for our "suffering a spate" , compare the bare beginnings of our downtown revival with this ( http://www.theglobeandmail.com/news/toro...zation-of-downtown-core/article20229182/ ):
emphasis added...

Couldn't agree more with you Ken.

[hilman]

KR


https://twitter.com/vineshpratap/status/505029469472841729/photo/1

[240glt]

Originally Posted by cdnklc

well maybe i'm just an industry amateur then but the amount of space that will be added to our market is pretty insignificant in the scheme of things, particularly when you recognize the following:

1. absorption downtown has been restricted as much - if not more - by lack of product as much as lack of demand.

2. our office market does not consist only of downtown and the amount of inventory being added is not nearly as significant in relation to our overall market.

3. the loss of the surface parking and the potential for the price of parking to rise is a good thing, not a bad thing.

as for our "suffering a spate" , compare the bare beginnings of our downtown revival with this ( http://www.theglobeandmail.com/news/toro...zation-of-downtown-core/article20229182/ ):
emphasis added...

Well you certainly sound like an amateur

I won't beleaguer the point.. In the end, we get some new product and some new opportunities, very exciting in that regard

But I don't believe you or CMD are seeing this situation realistically. Better parking opportunities are grand, but we are most certainly not Toronto and if you don't feel any concern maybe I should sell you another old railway bridge

[Xelebes]

Originally Posted by 240glt

Well you certainly sound like an amateur

Now now, you're both on the separate side of the coin. Your business had you taking care of buildings. Ken is in it to sell and build buildings. You are looking after your own hide and can be "expressing concern" to keep your rates high. Ken is in it to sell buildings.

[EdmTrekker]

I don't see a blue colour for a building on the new EAD website for Enbridge. Must be going over to the Galleria or have another plan...Manulife2? Or maybe one of Kens new buildings. I am good with either.

[Airboy]

Had a long conversation with some Enbridge types, they feel they are staying downtown and will more than likely going to the Galleria site. Mentioned an announcement late this year or early in the new year.

[Coldrsx]

^interesting... for I am hearing more and more that 102st is likely.

[240glt]

^ it's a small possibility, but i am hearing they are leaning towards some renewals and going into one building currently u/c