SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 132

buzzg · #**2621** Posted **May 25, 2017, 2:12 PM**

FWIW commute times in Winnipeg have increased significantly in recent years. I recently had colleagues in from Edmonton and Calgary, and both were shocked how bad rush hour traffic was - especially in the northeast and southwest parts of the city. Hopefully the automated traffic systems help, and RT speeds up construction significantly.

That's the one major issue/obstacle for downtown development right now I'd say - that the city is pouring resources into and wanting people to live in downtown, but our transit system is inadequate for many people and parts of the city. Losing parking as lots get developed, and having more people downtown is great - but you need to have other great transit options. Currently, we don't. And yes, I do bus sometimes.

DirtWednesday · #**2622** Posted **May 25, 2017, 2:19 PM**

I had a co-worker move into a house in the South End - St. Vital area because they were young, new to Canada, and was the sheik thing to do. I warned them they'll face horrendous traffic and neighbours won't talk to them. The neighbour thing was a bit of a joke. Not really. But it was.

Well, one year later they're moving out of St Vital and one reason is the 2-2.5 times their old commute time.

buzzg · #**2623** Posted **May 25, 2017, 2:26 PM**

Yeah, I'm slightly worried about the upcoming RT projects, because I think they need to go hand-in-hand with new rules that focus on making developments and areas less car dependant.

What I mean is, I think the northeast RT is severely needed and COULD be a big help, however the Regent area is probably the most car-centric, busy, congested area of the city. It's also so spread out that unless you live close to the line, it might not be that easy to get on RT, especially since it's all retail along Regent.

esquire · #**2624** Posted **May 25, 2017, 2:35 PM**

Quote:

Originally Posted by DirtWednesday

I had a co-worker move into a house in the South End - St. Vital area because they were young, new to Canada, and was the sheik thing to do. I warned them they'll face horrendous traffic and neighbours won't talk to them. The neighbour thing was a bit of a joke. Not really. But it was.

Well, one year later they're moving out of St Vital and one reason is the 2-2.5 times their old commute time.

How far down into St. Vital do they live?

My reason for asking is that I live pretty close to downtown in Riverview and the afternoon rush hour traffic is always nasty right up to my area... just getting through Confusion Corner and all that. It always looks like traffic sails along much faster once you get past Jubilee. I have a sneaking suspicion that you could live twice as far from downtown as I do and only add a few more minutes to your commute...

As to buzzg's comments, on the rare occasion that I have reason to be on Lagimodiere or Kenaston at rush hour, it reminds me why I never want to live anywhere that requires daily commuting on those routes. Holy moly.

OakbluffMB · #**2625** Posted **May 25, 2017, 8:27 PM**

Quote:

Originally Posted by Finessing

How much fees do you think there are in syndicated mortgage products?

ETFs have fees as low as 0.04% and you can make trades for under $10. The fees don't have any material impact on returns unless you're not sophisticated enough to avoid all the rip-off products out there.

Higher returns are almost always a function of higher risk. If you can identify higher returns at the same or less level of risk...you should be managing a hedge fund.

Haven't checked in for a while, I haven't done syndicates, but the last alternative real estate investment I made was with this company out of Toronto, 206% projected returns http://bcsc.bc.ca/ViewDocument.aspx?DocNum=S7MAE6G3I7U6B7NBT6U3I7YCU7T3

I'm considering doing this one as well, 194% return projected http://www.investorx.ca/PDF/161124172657...45-106-english)(11-24-2016)?Mobile=False

DirtWednesday · #**2626** Posted **May 25, 2017, 8:58 PM**

Quote:

Originally Posted by esquire

How far down into St. Vital do they live?

My reason for asking is that I live pretty close to downtown in Riverview and the afternoon rush hour traffic is always nasty right up to my area... just getting through Confusion Corner and all that. It always looks like traffic sails along much faster once you get past Jubilee. I have a sneaking suspicion that you could live twice as far from downtown as I do and only add a few more minutes to your commute...

As to buzzg's comments, on the rare occasion that I have reason to be on Lagimodiere or Kenaston at rush hour, it reminds me why I never want to live anywhere that requires daily commuting on those routes. Holy moly.

They said something like 50-55 minute bus ride to nearly the perimeter down St. Mary's. That's on a typical good day. The couple blizzard days this past winter her trip was about 1h45m. Now I live in West K, close to Main and about half the distance. Takes me about 20 minutes or less in rush hour by car. And maybe 30 by bus including the walk to my house from the express stop. So pretty consistent time per kilometer actually.

esquire · #**2627** Posted **May 25, 2017, 9:03 PM**

^ Ah OK, those subdivisions between St. Mary's and St. Anne's close to the Perimeter must have some of the worst rush hour commutes in the entire city.

I remember going to visit someone down there after work one day when there was construction on St. Anne's... it took me over an hour to drive down there at rush hour. Definitely don't live off Aldgate if you have a 9 to 5 job downtown.

micheal · #**2628** Posted **May 25, 2017, 10:12 PM**

http://www.cbc.ca/news/canada/manitoba/i...owed-interest-as-bonds-default-1.4124954

Cyro · #**2629** Posted **May 25, 2017, 10:18 PM**

^ Significant bit of news but we covered this article for 20 posts on the previous page.

pegaholic · #**2630** Posted **May 25, 2017, 10:24 PM**

time will tell what happens with this project

st regis is already planning to lay off its staff im sure they were given a notice of eviction by fortress in preparation for demolition.

center venture has pretty strict guidelines regarding this property and i dont think they will permit a demolition if there is no concrete plan to build something in its place.. i believe that they have until next year this time to develop the lot or risk losing all the money they spent purchasing it.. also i think possible lawsuits may be in play if fortress violates the terms of thier agreement

Urban recluse · #**2631** Posted **May 25, 2017, 10:32 PM**

Even if it is demolished sooner than later, a vacant building vs a vacant lot, really, no difference. If the project is cancelled, selling that land would be easier when no demolition costs would fall on the new developer.

Finessing · #**2632** Posted **May 26, 2017, 1:56 PM**

Quote:

Originally Posted by Pinus

Well well, look who shows up in the nick of time as a negative news story regarding SkyCity pops up on the forum. Funny how you were so quiet during all the positive news stories. And to top it off, you aren't even FROM the bloody city and likely have no vested interest here; dictating to us what should and shouldn't be built in OUR downtown! Like clockwork............

Please go away.

Yer not from round here are yuh?

Wolf13 · #**2633** Posted **May 26, 2017, 4:05 PM**

Quote:

Originally Posted by Pinus

Well well, look who shows up in the nick of time as a negative news story regarding SkyCity pops up on the forum. Funny how you were so quiet during all the positive news stories. And to top it off, you aren't even FROM the bloody city and likely have no vested interest here; dictating to us what should and shouldn't be built in OUR downtown! Like clockwork............

Please go away.

What does his residence have anything to do with it? We're all just discussing things and hopefully enjoying ourselves or learning to some extent.

And why should discussion be curtailed to Winnipeggers alone? Not to sound dismissive or to suggest out-of-towners hold a magic key that we do not (dealt with equally many Morontonians as dumb peggers), but Winnipeg hasn't gotten far by itself.

Ironically, Fortress swoops in from out of town thinking they automatically know something peggers don't, and botch this up.

I'd participate more in the Vancouver and Toronto sections because I travel for work, which if I recall correctly Finessing does for Wpg, but those sections aren't as interesting or active.

BAKGUY · #**2634** Posted **May 26, 2017, 5:38 PM**

It was my understanding this was to be a thread about SkyCity.
Well.....One would never know it by all the talk about suburgatory traffic in St Vital, north south etc... and transit issues there...are there not separate threads for them that still exist or do my eyes deceive?

Cyro · #**2635** Posted **May 26, 2017, 9:00 PM**

Quote:

Originally Posted by BAKGUY

It was my understanding this was to be a thread about SkyCity.
Well.....One would never know it by all the talk about suburgatory traffic in St Vital, north south etc... and transit issues there...are there not separate threads for them that still exist or do my eyes deceive?

I was wondering the same thing yesterday. Some days conversations go off on totally unrelated tangents, as the examples above. Usually someone will notice and try to get things back on topic. Sometimes it happens, not always.

BigG · #**2636** Posted **May 28, 2017, 1:21 PM**

I like the idea of Sky City and truly wish that this would be built. But I would trade it any day for three to five d Condos in downtown. That building is really taking shape.

Urban recluse · #**2637** Posted **May 28, 2017, 1:23 PM**

Ageeed. A taller D on this site would be wonderful.

Portage · #**2638** Posted **May 29, 2017, 12:16 PM**

http://www.cbc.ca/news/canada/manitoba/st-regis-demolition-needs-money-proof-1.4135206

esquire · #**2639** Posted **May 29, 2017, 1:41 PM**

Quote:

Originally Posted by Portage

http://www.cbc.ca/news/canada/manitoba/st-regis-demolition-needs-money-proof-1.4135206

Well, isn't this a pleasant surprise. The City says no demolition of the St. Regis and no excavation for SkyCity until there's proof of financing that Fortress can actually get something built on those sites. What a welcome change from the days when the City would let developers demolish based on a cocktail napkin promise to build something.

What does this mean for the St. Regis if it's shutting down operations, though? A boarded-up St. Regis sitting might be unusable if Fortress sits on it for years without doing anything... it may end up having to be demolished anyway. I wonder what the City intends to do to prevent that from happening?

All that said, I guess the City's extreme skepticism surrounding this project doesn't reflect well on SkyCity's chances of getting built.

PS - Welcome to the forum, Portage.

Finessing · #**2640** Posted **May 29, 2017, 2:11 PM**

Quote:

Originally Posted by Portage

http://www.cbc.ca/news/canada/manitoba/st-regis-demolition-needs-money-proof-1.4135206

The house of cards continues collapsing...

50% presales claimed by Fortress yet current syndicated mortgage holders are already in default? There is no chance this thing gets construction financing.

Brett Myers should weigh in and let us know what's going on...