Edmonton Construction 13 (November 2015) - Page 375

MalcolmTucker · #**7481** Posted **Jun 13, 2017, 4:17 PM**

Sold for $13.5 million, less than $10 a square foot as currently developed.

Legacy leases in there that hold back development and are way under cost and would have to be bought out?

Apparently lots of parking, 340 stalls if the 1 per 400 sq ft ratio listed on one of the lease sheets is true.

gan4volta · #**7482** Posted **Jun 13, 2017, 4:45 PM**

Quote:

Originally Posted by Coldrsx

https://twitter.com/IanOyeg

I am pretty exiting on this one, it's going to be a huge contribution to downtown skyline.

240glt · #**7483** Posted **Jun 13, 2017, 5:00 PM**

Quote:

Originally Posted by MalcolmTucker

Sold for $13.5 million, less than $10 a square foot as currently developed.

Legacy leases in there that hold back development and are way under cost and would have to be bought out?

Apparently lots of parking, 340 stalls if the 1 per 400 sq ft ratio listed on one of the lease sheets is true.

There is parking under there but access is poor. They don't use it now at all

After the bank moves out in ~5 months the building will be empty

Regency bought it, but I doubt they're going to do anything with it short term. Probably try to lease it out as office space.

Mikemike · #**7484** Posted **Jun 13, 2017, 5:06 PM**

^so, 1500 space public bike & subcompact car parkade and a multi-story flea market? Sweet!!

Kevin_foster · #**7485** Posted **Jun 13, 2017, 5:10 PM**

Quote:

Originally Posted by Coldrsx

BOM was purchased by Regency. Short to medium term likely office or retail, long-term I expect a tall mixed-use.

That would be ideal. It's a space that needs some height!

EdmTrekker · #**7486** Posted **Jun 13, 2017, 6:22 PM**

Quote:

Originally Posted by MalcolmTucker

Sold for $13.5 million, less than $10 a square foot as currently developed.

Legacy leases in there that hold back development and are way under cost and would have to be bought out?

Apparently lots of parking, 340 stalls if the 1 per 400 sq ft ratio listed on one of the lease sheets is true.

Legacy leases? I was unaware of other corps operating out of the BoM building. I agree with 240glt that the access to parking is poor - and that is an understatement. 340 is a lot of stalls if that is the number.

Coldrsx · #**7487** Posted **Jun 13, 2017, 7:14 PM**

BOM building has an agreement in their DC to have stalls in the RHW parkade. That is how it got around parking for the most part.

CanadianCentaur · #**7488** Posted **Jun 13, 2017, 7:40 PM**

Quote:

Originally Posted by s4.audios

Don't think anyone has mentioned yet, a couple of the really old ugly apartment blocks still situated on 124th street have been demolished; just north of Stony Plain Rd. Anyone hear if there is plans for something going up right away?

I assume that's the double set of ancient-🞵🞵🞵 walkup apartments (there's actually four separate apartment buildings there) just north of the God damned Money Mart/Pizza 73 on the NW corner of 118 St/SPR? If so, that's the best news I've heard in ages for this intersection.

Urban recluse · #**7489** Posted **Jun 13, 2017, 8:47 PM**

Quote:

Originally Posted by 240glt

There is parking under there but access is poor. They don't use it now at all

After the bank moves out in ~5 months the building will be empty

Regency bought it, but I doubt they're going to do anything with it short term. Probably try to lease it out as office space.

Even with the amount of space on the market?

s4.audios · #**7490** Posted **Jun 13, 2017, 8:47 PM**

Unfortunately it is not the set of four separate apartment buildings. It is the structure just north of those, the U-shaped apartments as seen on google maps. Just as bad, but sadly only 1/3rd of the ugliness demolished.

Hallsy's Toupee · #**7491** Posted **Jun 14, 2017, 4:20 PM**

So all that fearmongering from Wildrosers and their disciples re: NDP appointing social justice warrior friends to the AIMCo board of directors? Fake news.

AIMCo Announces Incoming Appointments to Board of Directors and Designation of Mr. Richard Bird as Chair
http://www.newswire.ca/news-releases/aim...-mr-richard-bird-as-chair-628281623.html

EdmTrekker · #**7492** Posted **Jun 14, 2017, 5:45 PM**

Quote:

Originally Posted by Hallsy's Toupee

So all that fearmongering from Wildrosers and their disciples re: NDP appointing social justice warrior friends to the AIMCo board of directors? Fake news.

AIMCo Announces Incoming Appointments to Board of Directors and Designation of Mr. Richard Bird as Chair
http://www.newswire.ca/news-releases/aim...-mr-richard-bird-as-chair-628281623.html

That Board and its new members are top shelf business types beyond reproach.

Coldrsx · #**7493** Posted **Jun 15, 2017, 12:07 AM**

https://twitter.com/IanOyeg

Landlocked · #**7494** Posted **Jun 15, 2017, 2:10 PM**

Quote:

Originally Posted by EdmTrekker

That Board and its new members are top shelf business types beyond reproach.

My only question would be, is this the original group of director's the NDP wanted, or did the screams from the opposition force them to take a stance more in line with the expectations of the business community? It's irresponsible to jump to the conclusion that the accusations were entirely baseless due to political bias.

Kevin_foster · #**7495** Posted **Jun 15, 2017, 3:02 PM**

^^ That site is a massive construction project. I didn't realize the extent of it until I was at the Tool concert looking out. The last time I was at the rink, John Mayer, it was still way below ground. Super cool.

Mikemike · #**7496** Posted **Jun 15, 2017, 3:11 PM**

Quote:

Originally Posted by Coldrsx

BOM building has an agreement in their DC to have stalls in the RHW parkade. That is how it got around parking for the most part.

So if the Bank of Montreal Building were redeveloped the parkade could also be redeveloped? And until the BOM building goes the parkade is going to stay too?

There's probably a contract in place between the two, but the city could nullify the DC parking clauses. Minimum parking has been reduced or eliminated for the rest of downtown, so there's no reason it couldn't free those sites too.

Hallsy's Toupee · #**7497** Posted **Jun 15, 2017, 3:27 PM**

Aldritt tower update:
http://edmonton.ctvnews.ca/video?clipId=1146675

Skyisnolimit · #**7498** Posted **Jun 15, 2017, 4:40 PM**

Quote:

Originally Posted by Hallsy's Toupee

Aldritt tower update:
http://edmonton.ctvnews.ca/video?clipId=1146675

Where are those critics saying this was just a rezoning ploy to in increase land value. 10 million put into it already destroy's that theory up up and away another gem for the skyline . Edmonton finally gets it in the 21st century you're a city not a small town .

rapid_business · #**7499** Posted **Jun 15, 2017, 7:29 PM**

Quote:

Originally Posted by Skyisnolimit

Where are those critics saying this was just a rezoning ploy to in increase land value. 10 million put into it already destroy's that theory up up and away another gem for the skyline . Edmonton finally gets it in the 21st century you're a city not a small town .

What I want to know is how they have spent $10M to-date? Are they including the upzoned theorized land value in their calculations?

Kevin_foster · #**7500** Posted **Jun 15, 2017, 8:38 PM**

Quote:

Originally Posted by rapid_business

What I want to know is how they have spent $10M to-date? Are they including the upzoned theorized land value in their calculations?

Design and studies. Says the video at least