SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 92

Pinus · #**1821** Posted **Dec 6, 2016, 5:15 AM**

Quote:

Originally Posted by Wolf13

Nobody is buying to expect to see anything...

They're going after the Chinese Investor who is facing pushback in Vancouver and Toronto and has no options in a shitty Calgary market.

These units are advertised to those renting out (if they even do that), I think.

Despite the "CN Tower" weirdness, I think this is a great exposure opportunity for the Winnipeg market to sell itself to the outside world. It's like the perfect storm has brewed across the country to create such optimal conditions for our city.

Finessing · #**1822** Posted **Dec 6, 2016, 2:55 PM**

LOL @ "CN Tower". Classic real estate trick targeted at Chinese nationals who buy condos sight unseen.

I remember seeing a bunch of condos on Yonge St. marketed as if they were downtown. Meanwhile they're in Newmarket or something haha

Flatland Metropolis · #**1823** Posted **Dec 6, 2016, 7:14 PM**

Always interesting how there are different sales angles from one language to another

Flatland Metropolis · #**1824** Posted **Dec 6, 2016, 7:16 PM**

Quote:

Originally Posted by Urban recluse

Great: people will buy expecting to see Niagara Falls.

Can we add a feature to the floodway?

robertocarlos · #**1825** Posted **Dec 6, 2016, 7:19 PM**

They won't be rented. Once you rent it, it's no longer new. It would be like taking your collectable out of the packaging.

biguc · #**1826** Posted **Dec 6, 2016, 7:22 PM**

Its location on the map is wrong too.

Biff · #**1827** Posted **Dec 6, 2016, 8:21 PM**

More soil testing today: From Twitter

"SkyCityCentre WPG ‏@SkyCityWinnipeg 22m22 minutes ago

Some snowy drilling is taking place on the #SkyCity site today! Theres no way we're gonna let Mother Nature get in the way of construction."

LilZebra · #**1828** Posted **Dec 6, 2016, 9:31 PM**

Quote:

Originally Posted by bomberjet

From Google translate:

Sky City Condos - Luxury landmarks in Winnipeg city center, just 22 million!

- Enjoy the ultimate "five-star hotel" luxury lifestyle in Winnipeg's "CN Tower"!

Limited to 10 sets of limited time pre-sale price!
http://163.ca/dz163/forum.php?mod=viewthread&tid=458509

Winnipeg's CN tower, c'mmooonnnnnnnn.

What's the "22 million" for?

rkspec · #**1829** Posted **Dec 7, 2016, 2:19 PM**

probably Japanese yen

BigG · #**1830** Posted **Dec 7, 2016, 3:01 PM**

Quote:

Originally Posted by Flatland Metropolis

Can we add a feature to the floodway?

No need, we have Lockport.

bomberjet · #**1831** Posted **Dec 7, 2016, 5:17 PM**

Ya I would assume 22 million of whatever Chinese currency is, yun or something like that. Yen is Japanese.

esquire · #**1832** Posted **Dec 7, 2016, 5:35 PM**

According to the Google, 22 million yuan is 4,233,681 dollars, so it must be something else... perhaps it's a bad translation.

Kirk · #**1833** Posted **Dec 7, 2016, 7:41 PM**

That's a strange translation since that character means "10 thousand" not 1 million. So it should be "starting at only 220,000". $42,284 according to Google. Minimum buy-in to invest?

Spocket · #**1834** Posted **Dec 8, 2016, 6:26 AM**

It doesn't say 22 million. I'm not sure what it says but it's not 22 million. I mean, it says 220,000 but I can't figure out the last character.
Okay, figured it out : It says the minimum is 220,000 down. That's just a literal translation. It basically says "From $220,000".

Finessing · #**1835** Posted **Dec 9, 2016, 4:02 PM**

Fourth syndicated mortgage claim filed against Fortress
http://www.mortgagebrokernews.ca/news/fourth-syndicated-mortgage-claim-filed-218228.aspx

Quote:

Bryan Madryga, an investor in the Harmony Village-Lake Simcoe project in Barrie, has brought forth a fourth claim against Fortress Real Capital. Other defendants include Fortress executives Jawad Rathore, Vincent Petrozza, as well as Building & Development Mortgages Canada (BDMC), FMP Mortgage Investments, and a number of individuals.

Quote:

“This is the fourth statement of claim issued against Fortress et al. This raises the claims to about $100 million,” David Franklin, a real estate lawyer close to the case, told MortgageBrokerNews.ca via email. “This one is the first to include a fraud claim.”

The claim alleges “BDMC knowingly acted in a manner that resulted in the facilitation of dishonesty, fraud, crime and illegal conduct” and that “FMP knowingly acted in a manner that resulted in the facilitation of dishonesty, fraud, crime and illegal conduct.”

Quote:

This claim follows similar suits brought forth against Fortress and various syndicated mortgage sellers, including one related to the bankrupt Mady Collier Centre in Barrie and a development in Scarborough called Empire Pace.

bmyers · #**1836** Posted **Dec 10, 2016, 2:32 PM**

It is worth reading our response. Competitor brings frivolous lawsuits: http://www.newswire.ca/news-releases/for...us-proposed-class-actions-602634395.html

KCC Exit: http://www.newswire.ca/news-releases/syn...o-condominium-development-604755146.html

Bronson Exit:
http://www.newswire.ca/news-releases/ear...wntown-ottawa-development-605427436.html

Brant Park will register in 2017: http://www.gtaconstructionreport.com/3669-2/

6th and Tenth to start occupancy early next year: http://calgary.skyrisecities.com/news/2016/10/babak-eslahjou-core-architects-talks-6th-and-tenth

Check out this link to follow he construction progress on all our developments: https://fortressrealdevelopments.com/progress-updates/#all

cllew · #**1837** Posted **Dec 13, 2016, 2:17 PM**

Looks like a construction permit expired for the site

http://www.cbc.ca/news/canada/manitoba/skycity-permit-expired-1.3892475?cmp=rss

bomberjet · #**1838** Posted **Dec 13, 2016, 3:22 PM**

Maybe Ben can return and chime in on the article from CBC. Which also mentions the St Regis.

bmyers · #**1839** Posted **Dec 13, 2016, 4:29 PM**

Quote:

Originally Posted by bomberjet

Maybe Ben can return and chime in on the article from CBC. Which also mentions the St Regis.

We didn't have all our ducks in order to start excavation this month, we'll re-apply for the building permit in the new year.

We spent the better part of 2014 and into 2015 working on an RFP for a single commercial tenant at the St. Regis site that we ultimately came in second on, pretty disappointing. We'll focus on getting SkyCity started and then revisit St. Regis.

The interest in the commercial condo space has been very high and we continue to get a couple residential sales per week. Hopefully we'll have a couple new things to announce in Q1-2017.

rkspec · #**1840** Posted **Dec 13, 2016, 4:35 PM**

They still seem pretty confident this is moving forward. lets see what the new year brings

Quote:

The company, however, says the project is going ahead and construction will commence during the spring of 2017.

"The program is underway and in the new year we will begin exploring offers on the retail space. Fortress will continue to focus on sales at SkyCity and financing discussions are underway," she said.

"We do not anticipate any delays to starting construction in the spring and first occupancies of residential units are still planned for the end of 2019."