Winnipeg | 300 Main St.- Phase II 360 Main St. | 465 Ft | 42F | Completed - Page 147

Biff · #**2921** Posted **Oct 10, 2018, 6:34 PM**

...apparently they have also purchased a parkade in the immediate vicinity. I can only assume the Garry St Parkade. Yes they need more parking. They will likely build a sizable parkade as part of whatever they develop on the lot across from Cargill.

Still lots of assumptions here.

esquire · #**2922** Posted **Oct 10, 2018, 6:45 PM**

Quote:

Originally Posted by Biff

...apparently they have also purchased a parkade in the immediate vicinity. I can only assume the Garry St Parkade. Yes they need more parking. They will likely build a sizable parkade as part of whatever they develop on the lot across from Cargill.

Still lots of assumptions here.

I could live with parking on that development site opposite Cargill so long as that's not ALL that gets built. As long as it's not just a monster HSC-style parkade that spans the entire block I'll be happy.

But still, it does seem that the P&M area has a lot of office space to begin with, and hotels/apartments are being developed. What else would they be looking at doing? It's all very interesting.

bomberjet · #**2923** Posted **Oct 10, 2018, 6:47 PM**

ARTIS as a REIT should have a strict mandate on what they can and can't do. Like no condos, but rentals allowed. Things that would make money in perpetuity, such as parkades. Or is it not that black and white. Maybe their website has more info.

DonaldSmith · #**2924** Posted **Oct 10, 2018, 7:14 PM**

...

DonaldSmith · #**2925** Posted **Oct 10, 2018, 7:15 PM**

Quote:

Originally Posted by Biff

...apparently they have also purchased a parkade in the immediate vicinity. I can only assume the Garry St Parkade. Yes they need more parking. They will likely build a sizable parkade as part of whatever they develop on the lot across from Cargill.

Still lots of assumptions here.

I believe they have also acquired some other buildings on Fort, though don't quote me on that as I am not 100% sure.

DonaldSmith · #**2926** Posted **Oct 10, 2018, 7:38 PM**

Read this:

https://www.winnipegfreepress.com/local/heritage-tag-rankles-developers-394907631.html

Developer Armin Martens and hotel owners Rick Bel and Ida Albo tried to block the heritage designation of the 118-year-old Vendome Hotel at a civic committee meeting last week, arguing the designation could jeopardize development plans for the street.

“There are no plans at this point in time but the short answer, if there were a heritage designation on that building, it would kill any future plans or any possible plans for that site,” said Frank Sherlock, an executive vice-president at Martens’ development trust, Artis REIT, which owns the west side of Main Street between Portage and Graham avenues — the former Trizec building, the underground Winnipeg Square and parkade, the adjoining Royal Bank building at 220 Portage, and plans for a $165-million, 40-storey tower at the southwest corner of Main and Graham, at 300 Main.

esquire · #**2927** Posted **Oct 10, 2018, 7:41 PM**

^ I don't get how the Vendome could stand in the way of whatever they want to do, especially given that the buildings behind it along Garry are protected. But either way, I'm curious to know what Artis is cooking up for that block... it sounds substantial.

bomberjet · #**2928** Posted **Oct 10, 2018, 8:07 PM**

Now I'm not sure on heritage status for all the buildings. But it would seem 300 Fort St is headed for demolition (maybe, maybe not). Barnes and Duncan moved out to the old Heart and Stroke building on Donald. If that and Vendome were demo'd, there would be a large chunk of land for development. I'm not in support of demo at this point. Just looking at it.

It looks like 2 separate project. the gravel lot on Graham and then the Vendome thing as another. I couldn't see them buying up the whole block, including the building with the yoga place. Could it? looking on Google and Shindico has the 2nd and 3rd floors for sale. Not lease, for sale.

robertocarlos · #**2929** Posted **Oct 10, 2018, 11:07 PM**

Quote:

Originally Posted by buzzg

Hopefully not just for more parking for their development. Another building seems crazy right now, but would be amazing!

They could build a thousand car 3 level underground garage and leave it prepared for another future 40 story building.

robertocarlos · #**2930** Posted **Oct 10, 2018, 11:09 PM**

Quote:

Originally Posted by bomberjet

I will be very interested to see what the sale price is for the lot if this goes through.

At least nine million dollars. Everybody knows that's what an empty lot in downtown Winnipeg is worth.

DonaldSmith · #**2931** Posted **Oct 11, 2018, 1:47 PM**

Quote:

Originally Posted by Biff

...apparently they have also purchased a parkade in the immediate vicinity. I can only assume the Garry St Parkade. Yes they need more parking. They will likely build a sizable parkade as part of whatever they develop on the lot across from Cargill.

Still lots of assumptions here.

This should be disclosed in the Q3 MD&A, dependent on the timing; will be released Nov 14 or sooner.

bomberjet · #**2932** Posted **Oct 11, 2018, 5:01 PM**

Looking at the 2nd Q MD&A, it says 330 Main is 90% per-leased. Wonder who those tenants are, and more specifically what type of tenants. ARTIS also sold its stake in Centrepoint and sold Eau Claire Place II in Calgary.

Ando · #**2933** Posted **Oct 11, 2018, 5:18 PM**

This has been discussed at length on here recently. The Vendome Hotel has been designated for a few years now.

Biff · #**2934** Posted **Oct 11, 2018, 6:03 PM**

I posted this a while back, but I would sure love to see something like this built here. I really like this new proposal for downtown Minneapolis, the render looks white but it is actually a sandstone colour. I have always likes this style, much like the Wells Fargo Tower. It seems like it could be the right size for a tall building in Winnipeg at 43 floors, 550 ft and 101 units. Would look great IMHO to replace the failed Skycity project - half hotel (18) and half residence (25).

Urban recluse · #**2935** Posted **Oct 11, 2018, 6:13 PM**

Classic and elegant. Yes please.

BAKGUY · #**2936** Posted **Oct 12, 2018, 1:43 AM**

Quote:

Originally Posted by Biff

I posted this a while back, but I would sure love to see something like this built here. I really like this new proposal for downtown Minneapolis, the render looks white but it is actually a sandstone colour. I have always likes this style, much like the Wells Fargo Tower. It seems like it could be the right size for a tall building in Winnipeg at 43 floors, 550 ft and 101 units. Would look great IMHO to replace the failed Skycity project - half hotel (18) and half residence (25).

Bring it on!

roccerfeller · #**2937** Posted **Oct 12, 2018, 12:54 PM**

That would be awesome - and unique in the Winnipeg skyline

Really great news Biff, thank you for sharing. Hopefully it amounts to some mega project!

optimusREIM · #**2938** Posted **Oct 12, 2018, 3:05 PM**

My feeling is unless 300 main is some immediate roaring success that we don't see anything announced for a couple years. But we can always hope things are moving more quickly.

esquire · #**2939** Posted **Oct 12, 2018, 3:20 PM**

Quote:

Originally Posted by optimusREIM

My feeling is unless 300 main is some immediate roaring success that we don't see anything announced for a couple years. But we can always hope things are moving more quickly.

Winnipeg taking on a major new building is like a python swallowing a hog, it takes some time to digest. Even in the best circumstances I'd be pretty surprised if there was another announcement for a new residential highrise near Portage and Main in the next year or two.

bomberjet · #**2940** Posted **Oct 12, 2018, 3:55 PM**

Curious if anyone knows. What is vacancy rate at 300 Assiniboine? Has it filled up yet? Would be a decent comparison to 300 Main rentals. We'll also have TNS rentals coming to market right away. The Market Ave apartment building too. Lots of new apartments downtown to fill up.