Winnipeg | 300 Main St.- Phase II 360 Main St. | 465 Ft | 42F | Completed - Page 18

pmuhar · #**341** Posted **Apr 7, 2016, 6:35 PM**

Quote:

Originally Posted by DonaldSmith

They just basically bought 400 condos.

Odd that Artis is building a residential building, as they don't really have any in their portfolio. I wonder if this is a diversification plan or a potential sale to a pension fund in the medium term.

Yeah it does seem a bit odd. Also the numbers are tight. I did some napkin math and their cap rate will probably be quite low, unless they are also getting a big chunk of money from commercial leases in the podium.

Im sure they know what theyre doing though, after all; theyre the successful REIT and im just a keyboard warrior

DonaldSmith · #**342** Posted **Apr 7, 2016, 6:35 PM**

Quote:

Originally Posted by drew

The Freeps is really slow at picking this story up. Not even a tweet.

They are going hard on that shooter on the loose - but even the Sun has a story on 360 Main on their site.

http://www.winnipegfreepress.com/busines...ower-for-portage-and-main-374924201.html

Posted at 12:33

Not anything that wasn't posted else where.

esquire · #**343** Posted **Apr 7, 2016, 6:37 PM**

Quote:

Originally Posted by pmuhar

Yeah it does seem a bit odd. Also the numbers are tight. I did some napkin math and their cap rate will probably be quite low, unless they are also getting a big chunk of money from commercial leases in the podium.

I'm not familiar with the specifics of how the programs work, but didn't someone mention residential development incentives being a factor? Combine that with an already-built foundation and Artis is putting up a showpiece tower at a good old fashioned Winnipeg discount.

Urban recluse · #**344** Posted **Apr 7, 2016, 6:41 PM**

What is also amazing is Artis REIT's stance on opening P&M. They have no objection.

biguc · #**345** Posted **Apr 7, 2016, 6:45 PM**

Quote:

Originally Posted by Urban recluse

What is also amazing is Artis REIT's stance on opening P&M. They have no objection.

Well that's new. I'm liable to get excited here.

Now all we need is Chipman to get — envy and decide to build a 200m tower between this one and Skycity. Then we can stop talking about downtown shifting away from P&M to TNS because the two places will be connected by a really dense corridor.

esquire · #**346** Posted **Apr 7, 2016, 6:46 PM**

Sorry if I missed it, but is this confirmed as a Ray Wan design? I mean it sure looks like it, but I was wondering if it was mentioned.

The Unknown Poster · #**347** Posted **Apr 7, 2016, 6:48 PM**

Quote:

Originally Posted by pmuhar

Yeah it does seem a bit odd. Also the numbers are tight. I did some napkin math and their cap rate will probably be quite low, unless they are also getting a big chunk of money from commercial leases in the podium.

Im sure they know what theyre doing though, after all; theyre the successful REIT and im just a keyboard warrior

Wouldnt this also be looked at as a way of increasing traffic to WPG Square and the revenue thats generates? Plus increased commercial ventures in WPG Square?

The Unknown Poster · #**348** Posted **Apr 7, 2016, 6:49 PM**

400 Apartments. Is there parking to support this?

emeraldeyes · #**349** Posted **Apr 7, 2016, 6:49 PM**

Quote:

Originally Posted by Urban recluse

What is also amazing is Artis REIT's stance on opening P&M. They have no objection.

That is almost the most exciting part of the news.

Only The Lonely.. · #**350** Posted **Apr 7, 2016, 6:50 PM**

Waiting to see more renders from different angles.

For all we know the otherside of this building is just a 40 story wall of concrete, like the Kensington building, to meet the new National Energy Code. LOL.

esquire · #**351** Posted **Apr 7, 2016, 6:51 PM**

Quote:

Originally Posted by biguc

Well that's new. I'm liable to get excited here.

Now all we need is Chipman to get — envy and decide to build a 200m tower between this one and Skycity. Then we can stop talking about downtown shifting away from P&M to TNS because the two places will be connected by a really dense corridor.

Kind of a wild ride so far in 2016, that's 4 TNS towers + 360 Main announced for a total of 5 towers including a new tallest, just in the last 2 months.

Since things are clearly on a roll now, where will the next project be?

Maybe Harvard will want to show us Saskatchewan's can-do spirit by building phase II of 201 Portage? Maybe Hartley Richardson will want to show everyone who's really the boss of this town by building a tower that reclaims the Winnipeg's tallest title for Lombard Place? Or how about the Vancouver crew at Peterson Investment building bookends atop the Portage Place pads?

Now that Winnipeg Square II is finally happening, any of those things seem possible

pmuhar · #**352** Posted **Apr 7, 2016, 6:51 PM**

Quote:

Originally Posted by The Unknown Poster

Wouldnt this also be looked at as a way of increasing traffic to WPG Square and the revenue thats generates? Plus increased commercial ventures in WPG Square?

For sure. Like I said, I'm sure they know what they are doing and have considered all the angles and opportunities.

DonaldSmith · #**353** Posted **Apr 7, 2016, 6:55 PM**

Quote:

Originally Posted by pmuhar

Yeah it does seem a bit odd. Also the numbers are tight. I did some napkin math and their cap rate will probably be quite low, unless they are also getting a big chunk of money from commercial leases in the podium.

Im sure they know what theyre doing though, after all; theyre the successful REIT and im just a keyboard warrior

There are synergies to this deal such as additional parking revenues and increased rents from commercial tenants.

1ajs · #**354** Posted **Apr 7, 2016, 6:57 PM**

A neighborhood is being born

optimusREIM · #**355** Posted **Apr 7, 2016, 6:58 PM**

Has anyone added this to the future winnipeg skyline rendering yet?

bomberjet · #**356** Posted **Apr 7, 2016, 6:59 PM**

Quote:

Originally Posted by The Unknown Poster

400 Apartments. Is there parking to support this?

There's a 900 stall parkade there now.

optimusREIM · #**357** Posted **Apr 7, 2016, 7:00 PM**

Quote:

Originally Posted by Only The Lonely..

Waiting to see more renders from different angles.

For all we know the otherside of this building is just a 40 story wall of concrete, like the Kensington building, to meet the new National Energy Code. LOL.

There was a video on CBC that looked like there was glass all around.

bomberjet · #**358** Posted **Apr 7, 2016, 7:00 PM**

Quote:

Originally Posted by esquire

Sorry if I missed it, but is this confirmed as a Ray Wan design? I mean it sure looks like it, but I was wondering if it was mentioned.

I remember someone mentioning this recently, maybe even in this thread. But it for sure looks like a Ray Wan thing. similar to Project W.

Side topic, the FreeP is super slow on most stories. I see them post articles about events from two days ago. or there's a breaking story and then nothing from the FreeP until the print article comes out the next morning.

emeraldeyes · #**359** Posted **Apr 7, 2016, 7:01 PM**

Video now available on CBC site:

http://www.cbc.ca/news/canada/manitoba/artis-reit-portage-main-development-winnipeg-1.3524897

Ando · #**360** Posted **Apr 7, 2016, 7:03 PM**

Quote:

Originally Posted by esquire

Kind of a wild ride so far in 2016, that's 4 TNS towers + 360 Main announced for a total of 5 towers including a new tallest, just in the last 2 months.

Since things are clearly on a roll now, where will the next project be?

Maybe Harvard will want to show us Saskatchewan's can-do spirit by building phase II of 201 Portage? Maybe Hartley Richardson will want to show everyone who's really the boss of this town by building a tower that reclaims the Winnipeg's tallest title for Lombard Place? Or how about the Vancouver crew at Peterson Investment building bookends atop the Portage Place pads?

Now that Winnipeg Square II is finally happening, any of those things seem possible

Don't forget Dreamscape.