Regina Construction III

[BrutallyDishonest2]

Originally Posted by jigglysquishy

Looks like Tower IV could be coming sooner than any of us thought. Harvard wants to take advantage of the low cost to build and the fact that high quality office space is a premium downtown. It'll hurt the small guys downtown, but I wouldn't be surprised to see construction start in 2018.

Uh... the cost to build has not dropped. It's still really expensive and high quality vacancy rates are the highest in a decade.

Where are you getting your information?

Without the announcement of a tenant Harvard is doing no such thing.

[sask1982]

^^ I like how one is saying T4 is happening and one is saying it is not, but neither have proof to support their rumours. Is this what this thread is coming to?

[Stormer]

Originally Posted by jigglysquishy

I haven't heard anything about who the tenant would be, but I've heard more than just grumbling about tower IV.

I would be surprised if Brandt in the park happens. There's isn't the carrot of rehabbing a building and Brandt has a less than positive relationship with council.

Council has little to nothing to say about the Brandt proposal as it is within the jurisdiction of Wascana Centre Authority. The only impediment I see to this project is that the WCA is seeking to limit the scale of the building which could make it uneconomic.

[BrutallyDishonest2]

Originally Posted by sask1982

^^ I like how one is saying T4 is happening and one is saying it is not, but neither have proof to support their rumours. Is this what this thread is coming to?

Well I'm a more reliable source...

But seriously, what kind proof do you expect? I can't prove a negative. I'm viewing my comments on three things:
1. Harvard currently has vacant space to lease.
2. Constructions costs have not fallen.
3. There is 500,000 square feet of empty office space in downtown Regina. If a company wanted new space they could sure as hell get space cheaper than a brand new tower.

[jigglysquishy]

There's isn't, however, 500,000 square feet of class A office space in one building. Or any large amount of office space in one building.

Most available office space is under 20,000 sq. ft. So if they do have a large tenant interested there's no where for them to currently go. Basically, any company with more than 100 employees doesn't have an option in downtown Regina.

[StealthGirl]

How soon is something going to happen on the railyards? What's the current theory. I thought the city was supposed to release results of the proposed usage surveys and the proposed plan sometime this year.

Anyone know what's going north of the Fairfield on the east side of Albert Street? Quite the hole being dug there this morning when we went past.

And does anyone know what is going in the Knight Archer building in Harbour Landing? It looks too big to just be the insurance office.

[SkydivePilot]

Originally Posted by BrutallyDishonest2

Well I'm a more reliable source...

But seriously, what kind proof do you expect? I can't prove a negative. I'm viewing my comments on three things:
1. Harvard currently has vacant space to lease.
2. Constructions costs have not fallen.
3. There is 500,000 square feet of empty office space in downtown Regina. If a company wanted new space they could sure as hell get space cheaper than a brand new tower.

There may be 500,000 sq feet of vacant space (a LOT!); however, it all scattered about here 'n there. A large entity would want to be in one locale. In perspective, the largest office building in Regina (and SK) is SaskTel @ 465,000 sq feet.

[sask1982]

Originally Posted by BrutallyDishonest2

Well I'm a more reliable source...

But seriously, what kind proof do you expect? I can't prove a negative. I'm viewing my comments on three things:
1. Harvard currently has vacant space to lease.
2. Constructions costs have not fallen.
3. There is 500,000 square feet of empty office space in downtown Regina. If a company wanted new space they could sure as hell get space cheaper than a brand new tower.

I agree with those 3 points, however, u shot down the notion that Tower IV is still coming together so fast that a person would think u are in communication with someone at Harvard directly, thus, to confirm aka prove your dismissal of any kind of movement on Tower IV. I'm assuming that's not the case?

[BrutallyDishonest2]

Originally Posted by jigglysquishy

There's isn't, however, 500,000 square feet of class A office space in one building. Or any large amount of office space in one building.

Most available office space is under 20,000 sq. ft. So if they do have a large tenant interested there's no where for them to currently go. Basically, any company with more than 100 employees doesn't have an option in downtown Regina.

There's nearly an entire B class building with 50,000 SF available and an A class tower with 60,000 sq. ft available. That's not insignificant.

100 employees can fit in 20,000 sq. ft. I can think of 4 buildings off the top of my head that has that much vacancy. Two of which are class A.

[BrutallyDishonest2]

Originally Posted by sask1982

I agree with those 3 points, however, u shot down the notion that Tower IV is still coming together so fast that a person would think u are in communication with someone at Harvard directly, thus, to confirm aka prove your dismissal of any kind of movement on Tower IV. I'm assuming that's not the case?

Well anyone can call Harvard and ask them.

I'm simply saying: what tenant is going to take tower 4?
- The province? Unlikely as they downsizing. And they'd have to go to tender.
- The feds? They are rumoured to be downsizing. And they'd have to tender.
- Crown corps? They typically own their properties. And they'd have to tender.
- Private company? Which ones? There are very few private companies large enough to warrant a large tower. Plus they could get much cheaper existing space.

I was quick because without any evidence it doesn't make any sense.

[thefourthtower]

Originally Posted by jigglysquishy

I'm thrilled Waskimo is returning. Festivals like this are what makes cities great places to live.

Looks like Tower IV could be coming sooner than any of us thought. Harvard wants to take advantage of the low cost to build and the fact that high quality office space is a premium downtown. It'll hurt the small guys downtown, but I wouldn't be surprised to see construction start in 2018.

I heard the same thing the tower will be built no matter what mr. ------says here is to tower four :

[Drofmab]

Originally Posted by jigglysquishy

Most available office space is under 20,000 sq. ft. So if they do have a large tenant interested there's no where for them to currently go. Basically, any company with more than 100 employees doesn't have an option in downtown Regina.

As Brutally points out, there are plenty of options. Ag Place has plenty of space, as do a number of other Harvard buildings (granted, not always in consecutive floors/sections of the building - but for the right major tenant, I'm certain Harvard would do as they've done in the past & make it worthwhile for existing tenants to shuffle around a bit, if necessary).

Even though the site Brutally linked to doesn't list Mosaic's empty floors, I am certain there were several largely empty floors (measured in floors, not sqft) just a few months ago held by Public Works (the feds' property manager). These were freed up by Agriculture's layoffs/downsizing... maybe Harvard found tenants & the feds existed the leases for much of the space Ag initially held.

Originally Posted by thefourthtower

Wonderful news about the fourth tower , since Ralph Gooddale is from Regina maybe its a federal dept moving

As for fed depts moving here - seems unlikely. I can't think of any that 1) are large enough necessary to command a new building, and 2) could reasonably make a move away from existing head offices (some of which are already in western Canada).
(not to mention there are no tenders of this nature open at the moment)

Speculation is fun - but we need to operate in the world of reality. If there was a major tenant looking for a large chunk of space downtown, my money is on Harvard proposing major shuffling/consolidation of existing tenants within their downtown portfolio before even giving a new building a moment's thought: there's a lot of empty space in Harvard's buildings alone, due to FCC consolidating in Ag Place (from at least 3 of Harvard's downtown buildings); Conexus leaving downtown (a bit of space, not huge); Agriculture Canada's downsizing... that's just off the top of my head, and just in Harvard's buildings. I know I've missed things.

[Stormer]

Ag place has floors 9 and 10 available: 31,759 SF

[HomeInMyShoes]

Regina Exhibition Stadium to be torn down today

[thefourthtower]

http://globalnews.ca/news/3176067/best-canadian-cities-full-time-jobs/
Regina, Sask.

It’s not a city many would likely expect to top economic rankings of any kind at a time of low oil prices. It is, after all, the capital of a resource-dependent province whose economy has suffered as prices dropped in recent years.

Indeed, the province’s unemployment rate went up last year.

But data released by Statistics Canada last week brought comparatively good news for the capital — it had the highest full-time employment rate of any major metropolitan area across Canada in December 2016

[prairieguy]

Originally Posted by thefourthtower

http://globalnews.ca/news/3176067/best-canadian-cities-full-time-jobs/
But data released by Statistics Canada last week brought comparatively good news for the capital — it had the highest full-time employment rate of any major metropolitan area across Canada in December 2016

Oh the benefits of being a relatively small capital city....large percentage/ratio of full time government positions to overall workforce. Not seeing the same impact as other more resource dependent cities in Western Canada or other larger capital cities where the government workforce is not as large in comparison to overall workforce.

Not saying this is a bad thing at all....it is just that Regina is fortunate. Enjoy it!

[Nathan]

Originally Posted by prairieguy

Oh the benefits of being a relatively small capital city....large percentage/ratio of full time government positions to overall workforce. Not seeing the same impact as other more resource dependent cities in Western Canada or other larger capital cities where the government workforce is not as large in comparison to overall workforce.

Not saying this is a bad thing at all....it is just that Regina is fortunate. Enjoy it!

It's not just being a smallish government city... It's being a smallish government city with major crowns. Most other cities Regina's size wouldn be host to a large insurance corporation, a (relatively) large Telco, a power corp, etc. The co-operative movement also contributes with some large, stable full-time employers (Co-operators, Conexus, Co-op Refinery). This then trickles down to support/supply services for these corporations.

Then of course you add on actual "government" ministry jobs.

[prairieguy]

Good points!

[UPP]

Originally Posted by prairieguy

Oh the benefits of being a relatively small capital city....large percentage/ratio of full time government positions to overall workforce. Not seeing the same impact as other more resource dependent cities in Western Canada or other larger capital cities where the government workforce is not as large in comparison to overall workforce.

Not saying this is a bad thing at all....it is just that Regina is fortunate. Enjoy it!

Until the government decides to either downsize or impose pay cuts and then you have a government-made recession just waiting to happen in Regina.

[Udon'tknow]

Interesting read re the current activity and plans for phase 2 of their renewal. Sounds like the next improvement is the Arena.

“The third phase is the refurbishment of the Brandt Centre, which is on our radar screen for three to five years out.”

http://leaderpost.com/news/local-news/as...s-down-evraz-redevelopment-moves-forward

credit: LP