SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 73

lilwayne · #**1441** Posted **Jul 22, 2016, 8:38 PM**

Quote:

Originally Posted by bomberjet

^Sort of. Pretty sure they've issued bonds on the project, just like those other ones you mention. In addition to selling the condos. That's how they purchased the property and built the sales centre, prior to selling any units.

I'm pretty sure they have to demolish the st regis hotel within a certain date or forfeit the land back to centre venture plus lose their money..

so time is ticking for them..

cllew · #**1442** Posted **Jul 22, 2016, 9:44 PM**

Quote:

Originally Posted by lilwayne

I'm pretty sure they have to demolish the st regis hotel within a certain date or forfeit the land back to centre venture plus lose their money..

so time is ticking for them..

Or they ask for an extension on the start date to keep the option on the St. Regis open.

buzzg · #**1443** Posted **Jul 22, 2016, 9:45 PM**

IIRC they're not allowed to demolish St. Regis until SkyCity has started in earnest. They also have to submit a full detailed plan and obtain all permits and prove viability before they demolish. And yes, last resort, they turn it over after a certain amount of time if there's no construction... I believe it was 2 years after start of SkyCity construction, can't remember exactly though.

Cyro · #**1444** Posted **Jul 22, 2016, 10:10 PM**

Discussed previously..Clarification:No connection to the SkyCity Dev. or some type of caveat that is in place with it's moving forward or not.

Quote:

The deal is subject to a development agreement with Fortress Real Developments Inc. that would include a 625-stall parking structure and commercial/retail complex. Construction has to begin by 2017 or the deal will be scrapped.

...
CentreVenture president and CEO Angela Mathieson said Fortress provided a $1 million down payment toward the purchase of the St. Regis and CentreVenture has arranged a mortgage for the company for the balance of $3 million through its urban development bank.....

http://www.cbc.ca/news/canada/manitoba/c...l-plans-for-parkade-and-retail-1.3090052

Jeremy6 · #**1445** Posted **Jul 28, 2016, 5:03 PM**

Previously confirmed but here's the billboard showing 160+ units sold.

Biff · #**1446** Posted **Jul 28, 2016, 5:20 PM**

Sad that one of the shortest buildings in downtown is the best looking building at night.

buzzg · #**1447** Posted **Jul 28, 2016, 6:00 PM**

^So true. Although I really hope it inspires other building owners to do the same. It's a good marketing thing to be honest — it looks good for RBC to have their building stand out so much. I know people who know nothing about anything that we talk about on here who are like "the RBC building looks great."

The Grain Commission building is a prime candidate, the odd shape of it could lead to some awesome lighting effects. Radisson too.

BigG · #**1448** Posted **Jul 28, 2016, 6:32 PM**

^^If only the RBC Building were 3X taller. It would look spectacular at night.

Urban recluse · #**1449** Posted **Jul 28, 2016, 6:52 PM**

I am at the point where I would be content with SkyCity slightly reduced in height if it meant seeing construction start sooner.

esquire · #**1450** Posted **Jul 28, 2016, 7:03 PM**

^ especially given that we're going to get a new tallest now either way

Urban recluse · #**1451** Posted **Jul 28, 2016, 7:08 PM**

Exactly. A massive void in this section of downtown is going to be filled, so if it is slightly shorter, no big deal.

optimusREIM · #**1452** Posted **Jul 28, 2016, 7:24 PM**

But it would still be cool if it was built to full height!

Urban recluse · #**1453** Posted **Jul 28, 2016, 7:25 PM**

The sooner construction starts, the sooner people move in, the sooner...

optimusREIM · #**1454** Posted **Jul 28, 2016, 7:32 PM**

Solution: make the foundation capable of supporting the taller tower then if all of the sudden demand jumps because construction has begun then they can choose to expand the scope, a la TNS

oftheMoon · #**1455** Posted **Jul 28, 2016, 8:37 PM**

^^^ great ideas! Get the shovels in the ground for the newest 25 - 30 story residential tower that's already sold 160+ units and get this thing going!

Wolf13 · #**1456** Posted **Jul 28, 2016, 8:48 PM**

Quote:

Originally Posted by optimusREIM

Solution: make the foundation capable of supporting the taller tower then if all of the sudden demand jumps because construction has begun then they can choose to expand the scope, a la TNS

Well, highly unlikely... As far as I'm aware TNS scopes were finalized before any concrete was poured...

Regardless, concrete costs in particular are so high here (I definitely suspect collusion) that significant overbuilding of foundations will not likely be encouraged by the developer. Profits are already so thin in Winnipeg.

I want to see this go ahead, but I'm ont sure I believe the 160+ number just because it's on a billboard. Nonetheless, latest reports hint at an upswing in downtown living so hopefully that helps.

buzzg · #**1457** Posted **Jul 28, 2016, 9:53 PM**

It's been said numerous times, but I'm definitely on team "rather 2 20's than 1 40-storey" — lets worry about filling out before we fill up.

... Although that being said there's probably a high chance if that happened we may only ever get a phase 1.

DowntownBooster · #**1458** Posted **Jul 29, 2016, 4:31 PM**

Quote:

Originally Posted by optimusREIM

But it would still be cool if it was built to full height!

Agree.

Wolf13 · #**1459** Posted **Jul 29, 2016, 7:40 PM**

Quote:

Originally Posted by buzzg

It's been said numerous times, but I'm definitely on team "rather 2 20's than 1 40-storey" — lets worry about filling out before we fill up.

... Although that being said there's probably a high chance if that happened we may only ever get a phase 1.

I agree... but we run a strong risk, and I may guess 2/3 chance that we'd only get that one tower then.

Urban recluse · #**1460** Posted **Jul 29, 2016, 10:36 PM**

So one tower gets built there--sooner, great. They can move on to another of the many, many sites around the downtown which need developing.