SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 96

LilZebra · #**1901** Posted **Dec 24, 2016, 6:13 PM**

Quote:

Originally Posted by Tacheguy

ok I will tell you anyway.

cn towns have wide streets compared to cp towns. different surveyors back in the day..

CN people dreamed BIG!

That's why I like CN.

buzzg · #**1902** Posted **Dec 24, 2016, 6:37 PM**

Something will happen with Portage Place in the next few years. Hopefully The Bay can feed off this. It seems pretty reasonable to me that Graham will continue it's renaissance eastward with these new developments.

I think Garry is the perfect street to focus new efforts on as it will help connect the forks to Downtown, and Downtown to the Exchange. If and when anything ever happens on Albert, making Garry/ND to Albert the main entrance to the Exchange makes so much sense.

Can you imagine having Graham bustling from The Bay to Main, then up Garry into the Exchange, and just cross a revilitalized Main Street to the developing Forks. It's kind of interesting/nice to me that the streets that are (hopefully) going to become successful retail streets are the "back" streets. Off the path, pedestrian friendly, as opposed to Portage or Main... but those should get spillover. My fingers are crossed that TNS treats Graham well.

Urban recluse · #**1903** Posted **Dec 24, 2016, 7:32 PM**

A lot of potential outcomes to get excited over; I just hope more investment is made. Then there are the smaller projects which play a role (272 Main, the Sterling building).

optimusREIM · #**1904** Posted **Jan 3, 2017, 11:43 PM**

Anyone hear any updated sales figures?

Biff · #**1905** Posted **Jan 12, 2017, 4:00 PM**

I don't know exactly what this means but from a minute ago - SkyCityCentre Twitter

"SkyCityCentre WPG ‏@SkyCityWinnipeg 1m1 minute ago

Exciting news: terrace units are officially SOLD OUT! All remaining units still come with fabulous balconies, & sweeping views of #Winnipeg!"

bomberjet · #**1906** Posted **Jan 12, 2017, 4:03 PM**

Hmm. I think there were 3 units that were on the first level of the condo tower. Can't remember what floor it is. But its basically on top of the podium where all the outdoor space is. So they sold out maybe 3 units is what I think that means haha. On the sales chart, they were right at the bottom.

bomberjet · #**1907** Posted **Jan 13, 2017, 10:49 PM**

https://twitter.com/jeffkeelectv/status/820038770275876864
EPC to consider $6.5 million grant for SkyCity. Report says without money project not
viable.

Is this new or old? What other grants are they receiving if anything? I assume this is part of the residential grant thing that is now expired.

Wolf13 · #**1908** Posted **Jan 16, 2017, 11:51 PM**

Quote:

Originally Posted by bomberjet

https://twitter.com/jeffkeelectv/status/820038770275876864
EPC to consider $6.5 million grant for SkyCity. Report says without money project not
viable.

Is this new or old? What other grants are they receiving if anything? I assume this is part of the residential grant thing that is now expired.

I hope they get it.

They charted a bumpy course with this project but damn it would be a great finished product for Winnipeg.

Cam · #**1909** Posted **Jan 17, 2017, 7:21 AM**

Quote:

Originally Posted by Wolf13

I hope they get it.

They charted a bumpy course with this project but damn it would be a great finished product for Winnipeg.

Usually politicians will jump through hoops for grandiose projects like this... so I'm not too worried about bureaucratic decisions. There are other hurdles that worry me more.

Urban recluse · #**1910** Posted **Jan 17, 2017, 3:49 PM**

Based on this having been approved prior, I am thinking this is just a formality.

Wolf13 · #**1911** Posted **Jan 17, 2017, 6:48 PM**

Quote:

Originally Posted by Urban recluse

Based on this having been approved prior, I am thinking this is just a formality.

This. However, SkyCity wanted an extension to this grant, indicating it may not go ahead otherwise.

Approval should be a firmer sign of actually going ahead with construction.

bomberjet · #**1912** Posted **Jan 17, 2017, 6:53 PM**

Well, it's weird. SkyCity asked the City to pull the funding off the table in the fall. So they did. Now SkyCity wants them to bring it back to the table. I assume Fortress were worried about some sort of deadlines with the funding, so they postponed it.

Biff · #**1913** Posted **Jan 17, 2017, 7:36 PM**

It had to do with the deadline for construction completion by the end of 2018 for the funding to be granted. Obviously a project of this size (whether you believe it will be built or not) would not be completed by the end of 2018 due to its size. Fortress requested that the funding be removed likely to be able to negotiate an agreeable completion date....which obviously they did.

Trade pricing should start to trickle out shortly.

Urban recluse · #**1914** Posted **Jan 17, 2017, 7:44 PM**

I want to see the St. Regis bite the dust.

bomberjet · #**1915** Posted **Jan 17, 2017, 8:12 PM**

Thanks Biff. Looking forward to some action on site in the coming months!

Urban recluse · #**1916** Posted **Jan 18, 2017, 2:51 AM**

https://twitter.com/skycitywinnipeg?lang=en

esquire · #**1917** Posted **Jan 18, 2017, 7:15 PM**

City balks at $6.5-M advance grant for downtown tower

Quote:

A $200-million, 45-storey office and residential tower project appears stalled over the developer’s demand the city advance a grant before construction starts.

Fortress Real Developments, the developer behind the SkyCity mega project slated for Graham Avenue between Smith and Garry streets, has told civic officials their project isn’t viable without a $6.5 million grant from city hall.

Coun. John Orlikow, chairman of council’s property and development committee, said the city’s policy has been to provide downtown residential incentive grants only after a project has been completed and occupied, with payment phased over a 10-year period.

Orlikow said Fortress wants the $6.5 million upfront, which he’s not prepared to support

bomberjet · #**1918** Posted **Jan 18, 2017, 7:28 PM**

So just had to think about this for a bit. SkyCity wants $6.5M from the City and $8M from the Province. Or else, basically.

So they spent $9M on the land, which is valued at something like $3M. Even less IIRC. So right there is the $6.5m required from the City.

Is there something more to this? Did they work out some kind of side deal with the property owners to back door some of that $9M back to them. They could spin it as "Fortress paid $9M for the property, so that will be recouped through all the funding streams.' Meanwhile Jawad and co pocketed millions. Why would they pay so much for the property? Is it simply they had no clue? seems they're rather smart fellows. So I would said no, they didn't blindly overpay by $6M.

I get that most large projects are provided public funds. But saying it simply wont happen if they don't get the $6M doesn't seem right to me, when they overpaid so much.

In my eyes, something is off there.

esquire · #**1919** Posted **Jan 18, 2017, 7:33 PM**

^ I can't imagine that the City is going to take this ultimatum seriously. If Fortress can't get it done, then sell the parking lot and move on. With two tall residential towers by reputable developers going up to the east and west, it's not like anything really rides on Skycity.

Yeesh... every time it seems like Skycity might actually be for real, something like this happens.

DonaldSmith · #**1920** Posted **Jan 18, 2017, 7:36 PM**

What is odd is that they want the $6.5mil before any construction. Which I would say is unheard of. Not sure if they are just trying to get the most our of this as they can. IE start negotiations high (lump and before construction) thus making any other deal seem more reasonable by comparison.