SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 75

Wolf13 · #**1481** Posted **Aug 4, 2016, 5:35 PM**

Quote:

Originally Posted by GarryEllice

They have to design and build the thing as well!

30k per suite is not a big price at all.

The problem is that in order for the financials to check out, it appears they've exceeded what the market can absorb.

30k per suite is a pittance in Toronto, but they can also build 60 floors tall and have it lease up completely prior to construction, at a $$ premium. We're not sure we can build that high. I hope they do though.

Urban recluse · #**1482** Posted **Aug 4, 2016, 7:12 PM**

They do have a lot of time left before the 2017 deadline.

Wolf13 · #**1483** Posted **Aug 10, 2016, 5:28 PM**

Quote:

Originally Posted by Urban recluse

They do have a lot of time left before the 2017 deadline.

Really?

I'm under the impression they've only sold about 20 units since April or earlier... I think they'd have to increase their sales rate to make the deadline.

Not to mention they then have to actually SELL units for them to make money well beyond the 200 mark. Well, as long as the thing gets built I guess I'm fine with a slow sell-out.

Cyro · #**1484** Posted **Aug 10, 2016, 6:07 PM**

^ actually, I've never heard them state, media related releases, that this project has a pre-sale requirement date of 200 units at the start of 2017 deadline. If your talking about the end of 2017 that sounds plausible. 16 months..They have stated they would like to see shovels in the ground sometime in early 2017..

Wolf13 · #**1485** Posted **Aug 10, 2016, 8:43 PM**

Quote:

Originally Posted by Cyro

^ actually, I've never heard them state, media related releases, that this project has a pre-sale requirement date of 200 units at the start of 2017 deadline. If your talking about the end of 2017 that sounds plausible. 16 months..They have stated they would like to see shovels in the ground sometime in early 2017..

Sorry if I phrased it poorly... I'm expecting a 2017 deadline due to their intention to build in March 2017.

I'm getting the impression their sales have stalled and under 6 months isn't that much time...

design25 · #**1486** Posted **Aug 26, 2016, 2:53 AM**

An ad keeps popping up on my fb saying 50% sold, and prices starting in the 200s. I'd think if 50% was sold, SkyCity would have made a big announcement. What gives, SkyCity?

Urban recluse · #**1487** Posted **Aug 26, 2016, 2:56 AM**

Perhaps they have reached 180.

Wolf13 · #**1488** Posted **Aug 26, 2016, 4:55 PM**

Quote:

Originally Posted by design25

An ad keeps popping up on my fb saying 50% sold, and prices starting in the 200s. I'd think if 50% was sold, SkyCity would have made a big announcement. What gives, SkyCity?

Not uncommon in condo presales...

Most developers exaggerate sales by 10% or so...

Nonetheless, they might also be waiting for further plan development before they announce anything.

buzzg · #**1489** Posted **Aug 26, 2016, 5:23 PM**

Also, knowing their history, the banks may have set a higher threshold for pre-sales.

Biff · #**1490** Posted **Aug 29, 2016, 7:11 PM**

So yes, the sign says 50% sold. If that is accurate this means they have sold at least 190 units. Pretty impressive numbers if true.

bomberjet · #**1491** Posted **Aug 29, 2016, 7:13 PM**

The billboards on site are updated to say 50% sold? This AM it was still at 160. Maybe they've been to busy selling units to update the board?! haha

Anyways if they've sold 50% of units, they've already met or will surely meet their target by end of 2016. Selling 160 units is impressive around here. I'll be very impressed the day that building is 100% sold out. Almost 400 units in one building is quite the feat.

Cyro · #**1492** Posted **Aug 29, 2016, 7:14 PM**

^ that's incredible news if correct..

Urban recluse · #**1493** Posted **Aug 29, 2016, 7:19 PM**

I hope so.

esquire · #**1494** Posted **Aug 29, 2016, 7:21 PM**

I find that an amazing feat if true. The funny thing is that they haven't even gone all that hard on the marketing... I think I've been seeing some more ads lately, but it was almost dead silence for a while apart from their on-site billboard and the sales centre.

bomberjet · #**1495** Posted **Aug 29, 2016, 7:22 PM**

I don't have television and don't really do print media. Haven't see any advertising. Maybe one billboard, but I might just be dreaming that.

Phil's neighbour · #**1496** Posted **Aug 29, 2016, 7:23 PM**

Quote:

Originally Posted by bomberjet

The billboards on site are updated to say 50% sold? This AM it was still at 160. Maybe they've been to busy selling units to update the board?! haha

Anyways if they've sold 50% of units, they've already met or will surely meet their target by end of 2016. Selling 160 units is impressive around here. I'll be very impressed the day that building is 100% sold out. Almost 400 units in one building is quite the feat.

Odd they've changed from 160 to 50 per cent.
More likely they've downsized the building, IMO.
Still, a great development if it proceeds

Urban recluse · #**1497** Posted **Aug 29, 2016, 7:29 PM**

Hey, if reducing the size results in construction starting sooner, then great.

esquire · #**1498** Posted **Aug 29, 2016, 7:40 PM**

Quote:

Originally Posted by Phil's neighbour

Odd they've changed from 160 to 50 per cent.
More likely they've downsized the building, IMO.
Still, a great development if it proceeds

That's quite a leap. To joe public, 50% sold means a lot more than 190 units sold does.

Biff · #**1499** Posted **Aug 29, 2016, 8:07 PM**

Ok, someone needs to double check the sign on Garry. We went to the Keg last night and I swear that it said 50% sold.....and then on the other side it still said over 160 units sold. I even remarked to my wife that half of 380 is 190, so one hasn't been changed.

......I guess they are not wrong though, 190 units is "over" 160 units sold.

trueviking · #**1500** Posted **Aug 29, 2016, 9:14 PM**

signs are cheap.