Winnipeg Construction VIII

[wags_in_the_peg]

Originally Posted by esquire

The whole thing seems so airy-fairy at this point with the malleable deadline and non-committal approach that I don't know why it gets as much press as it does. The Free Press was trying to make it sound like Bowman hurting Chipman's feelings is the sole reason the project might not get off the ground, but this sounds like far from a sure thing to begin with.

i disagree, something will be happening, stay tuned...

[rypinion]

From Aldo Santin on twitter:

Originally Posted by ‏@aldosantin

True North announces it's buying 220 Carlton from CentreVenture. #bn #wpgpoli #wpgcouncil

https://twitter.com/aldosantin/status/605445787057680384

[esquire]

^ Isn't that interesting. Wow, maybe they are serious about getting something else off the ground in the SHED?

What I am curious about is who else would occupy TN Square's office space besides MLLC... given that not even Centrepoint's modest amount of office space is full as Simplicity pointed out, it can't be that easy to draw tenants. And would there be more willing downtown condo buyers given that Glasshouse probably absorbed a good amount of that money? It's all very interesting.

[Tacheguy]

I am very happy about this. My impression of True North is that they don't get ahead of themselves on public pronouncements. This project is going to happen and it will really change the south of Portage skyline. I'm smilin!

[CoryB]

^^ A possibility with True North Square is that True North themselves will relocate their offices from the existing location behind Tavern United. This could then allow the popular Tavern location to expand. It also would not be surprising to see Longboat and the other Chipman family companies with downtown offices take up space in True North Square to push up the occupancy rate.

[Tacheguy]

If this goes ahead as shown in the concept outline, would that not make Sky city an easier sell to the public? Or would that flood the market too much with residential? I hope they would be synergistic and both get developed.

[Flatland Metropolis]

Originally Posted by rypinion

From Aldo Santin on twitter:



https://twitter.com/aldosantin/status/605445787057680384

http://www.cbc.ca/news/canada/manitoba/t...and-to-build-true-north-square-1.3095679

Maybe its time that this is now a proposed thread

[Biff]

Originally Posted by esquire

^ Isn't that interesting. Wow, maybe they are serious about getting something else off the ground in the SHED?

What I am curious about is who else would occupy TN Square's office space besides MLLC... given that not even Centrepoint's modest amount of office space is full as Simplicity pointed out, it can't be that easy to draw tenants. And would there be more willing downtown condo buyers given that Glasshouse probably absorbed a good amount of that money? It's all very interesting.

I was told that they had enough interest to move forward on a scaled back project "IF" Liquor and Lotteries didn't choose them. I assume it would have meant one tower and the hotel (likely in the configuration that the original SoPo renderings showed - ie, no Carleton site). This leads me to believe that they received some kind of confirmation from MLLC allowing them to build two buildings plus the hotel on the Carleton site.

[esquire]

Originally Posted by Tacheguy

If this goes ahead as shown in the concept outline, would that not make Sky city an easier sell to the public? Or would that flood the market too much with residential? I hope they would be synergistic and both get developed.

I wonder too... on one hand you would think that it would create a bit of momentum for downtown residential, but on the other hand the market is still somewhat limited. If you consider that the most eager downtown buyers have already snapped up condos in Glasshouse and dCondo, and might soon have the chance to put down money on a TN Square condo, then it's going to make it that much harder for Fortress to do its thing and sell enough units to get their massive building started.

I can't say I'm that optimistic... I think Sky City's sales job is about to get harder.

[CoryB]

I thought regardless of what happened with 220 Carlton the plan has always been for True North (or Longboat) to build a hotel on the surface lot north across from the arena.

I also hope that the city has it written in the agreement for 220 Carlton that the site cannot be used for surface parking until meaningful construction has occurred on the site.

[esquire]

Originally Posted by CoryB

I also hope that the city has it written in the agreement for 220 Carlton that the site cannot be used for surface parking until meaningful construction has occurred on the site.

I don't see how surface parking can be allowed there all. The only way an exception was granted for FoUFG is because they are trying to raise money for a bona fide non-profit historical initiative.

If the City green lights a surface parking lot for a private company like TNSE, then any lingering doubts about the ban on surface parking lots being an absolute and total joke would be completely obliterated.

[DowntownBooster]

Originally Posted by Tacheguy

If this goes ahead as shown in the concept outline, would that not make Sky city an easier sell to the public? Or would that flood the market too much with residential? I hope they would be synergistic and both get developed.

It might be good for SkyCity to have additional development occuring downtown with the True North Square project. SkyCity will be situated in a great location as it will be connected to the skywalk system but will also be closer to the Forks, CMHR, Shaw Park, Concert Hall & Manitoba Museum and Exchange district while still being only a short distance to the MTS Centre.

[esquire]

Originally Posted by DowntownBooster

It might be good for SkyCity to have additional development occuring downtown with the True North Square project. SkyCity will be situated in a great location as it will be connected to the skywalk system but will also be closer to the Forks, CMHR, Shaw Park, Concert Hall & Manitoba Museum and Exchange district while still being only a short distance to the MTS Centre.

I guess it could be a selling point for out of town investors who Fortress is going to presumably need a hell of a lot of. They can point to Glasshouse, TN Square and (if it ever gets out of the ground) dCondo and say "Look! People are buying highrise condos in Winnipeg! It's pretty much like Vancouver but slightly colder!" and hope that the dollars roll in.

In addition, it could also help "normalize" the idea of living right downtown and perhaps encourage Winnipeggers to consider doing it. When I was living in the Oliver area near downtown Edmonton, hardly anyone actually lived right in the CBD... then some — highrises went up and suddenly it became a desirable neighbourhood. 10 years later and the towers are still going up, bigger than ever. So maybe there's something to this theory.

[Biff]

Originally Posted by esquire

I wonder too... on one hand you would think that it would create a bit of momentum for downtown residential, but on the other hand the market is still somewhat limited. If you consider that the most eager downtown buyers have already snapped up condos in Glasshouse and dCondo, and might soon have the chance to put down money on a TN Square condo, then it's going to make it that much harder for Fortress to do its thing and sell enough units to get their massive building started.

I can't say I'm that optimistic... I think Sky City's sales job is about to get harder.

I am not 100% sure what they have planned for this development but I do know they had an option on a piece of property on Donald St which they recently relinquished control of to build twin rental apartment buildings on.

[buzzg]

Originally Posted by Biff

I am not 100% sure what they have planned for this development but I do know they had an option on a piece of property on Donald St which they recently relinquished control of to build twin rental apartment buildings on.

Do you mean they were going to build twin rental apartments OR they gave up control to someone who is going to build them... if the latter, DETAILS?!

[cllew]

True North /longboat let the option go on the MPI lot south of City Place. I am guessing that it will be open for proposals again for somebody else to try. If I am not mistaken MPI was looking for a package offer for their two lots when it was first offered.

[buzzg]

Originally Posted by CoryB

^^ A possibility with True North Square is that True North themselves will relocate their offices from the existing location behind Tavern United. This could then allow the popular Tavern location to expand. It also would not be surprising to see Longboat and the other Chipman family companies with downtown offices take up space in True North Square to push up the occupancy rate.

There's no way Tavern will expand. Their capacity is massive and they've taken a serious hit from Shark Club and The Pint, even on game days it's not full after games anymore. If there's no event, it's empty.

Only way this could ever be a possibility is if they SIGNIFICANTLY increased the quality of the food, which won't happen. It's barely edible, Shark Club and The Pint are like fine dining compared to them.

[esquire]

^ I agree regarding the food, it's like they've never really bothered trying with their kitchen. They might be able to draw a better crowd if they stepped it up on the food front. Tavern United still does have an ace in the hole in the form of an awesome rooftop patio, although I realize it's useless for at least seven months of the year.

I'd imagine that if TNSE leaves the Powerhouse, the vacated space would probably just get leased out for office uses.

[BAKGUY]

Originally Posted by cllew

True North /longboat let the option go on the MPI lot south of City Place. I am guessing that it will be open for proposals again for somebody else to try. If I am not mistaken MPI was looking for a package offer for their two lots when it was first offered.

How odd, I hear they took the 2 lots and intend to proceed with True North. We must be listening to different stations on our TVs and radios?

[cllew]

Originally Posted by BAKGUY

How odd, I hear they took the 2 lots and intend to proceed with True North. We must be listening to different stations on our TVs and radios?

they only want the lot west of City Place now unless things changed again after Feb 24/15.

this is from the Metro on Feb 24/15


Bernice Pontanilla/Metro

A large downtown lot will remain as surface parking after a deal to turn it into a mixed use development fell apart, Metro has learned.

Officials with Manitoba Public Insurance, which owns the lot at 172 Donald St., have confirmed plans for Longboat Development Corp. — owned by the Chipman family — and Artis REIT to build on the site were quietly scrubbed in mid-2014.

During the same time period, True North Sport and Entertainment — another Chipman company — was negotiating privately with CentreVenture to purchase an identically-sized lot at 220 Carlton St.