Regina Construction III - Page 486

LittleBoy · #**9701** Posted **Nov 24, 2019, 2:46 PM**

Quote:

Originally Posted by StealthGirl

There's a real opportunity on Broad Street from the closed LB north to where the old Traveler's Building was. There's a smoke shop and another small business in there, but I thought that building was up for sale. That's a good stretch of land. Could do something there, but of course, rumour is all the developers and builders are sitting on their hands waiting on the railyards so none want to commit to anything big elsewhere.

I wouldn't hold your breath. There are easily half a dozen perfect redevelopment spots downtown, at least a dozen in transition, endless opportunities in the Warehouse and Heritage areas and of course the entirety of the Railyards. I keep hearing that developers are waiting for the Railyards, but the truth is that Regina is just development hell. Even expecting a huge surge of development on the North side of the tracks, developers have had endless opportunities to build centrally for dirt cheap, and we really haven't seen anything go up since Centre Square and Gardens on Rose already a few years back. Even with developers not wanting to tie up capital, they easily had half a decade between the last central developments and the railyards. Unless there is a massive demand in the market that statistics aren't capturing, there really just isn't incentive for mass scale development in urban Regina.

LittleBoy · #**9702** Posted **Nov 24, 2019, 2:54 PM**

Quote:

Originally Posted by LittleBoy

I wouldn't hold your breath. There are easily half a dozen perfect redevelopment spots downtown, at least a dozen in transition, endless opportunities in the Warehouse and Heritage areas and of course the entirety of the Railyards. I keep hearing that developers are waiting for the Railyards, but the truth is that Regina is just development hell. Even expecting a huge surge of development on the North side of the tracks, developers have had endless opportunities to build centrally for dirt cheap, and we really haven't seen anything go up since Centre Square and Gardens on Rose already a few years back. Even with developers not wanting to tie up capital, they easily had half a decade between the last central developments and the railyards. Unless there is a massive demand in the market that statistics aren't capturing, there really just isn't incentive for mass scale development in urban Regina.

Also, before any of you try to come at me for this, consider the financial side for developers. Look up the sales price of various units in transition, and the lease rates of commercial units downtown and in transition. A new development wouldn't even be able to break even at current market rates, and unless we see a massive spike in demand (and consequently, price) its unlikely development really starts taking off

BrutallyDishonest2 · #**9703** Posted **Nov 24, 2019, 6:31 PM**

Quote:

Originally Posted by LittleBoy

Also, before any of you try to come at me for this, consider the financial side for developers. Look up the sales price of various units in transition, and the lease rates of commercial units downtown and in transition. A new development wouldn't even be able to break even at current market rates, and unless we see a massive spike in demand (and consequently, price) its unlikely development really starts taking off

Well they could just do what Harvard does: 'convince' the provincial government to go in a substantial portion of their building so they have enough revenue to start a project.

StealthGirl · #**9704** Posted **Nov 25, 2019, 1:34 AM**

I don't see any direction from the city with regard to the downtown. It's all just lip service.

one_brick_at_a_time · #**9705** Posted **Dec 4, 2019, 2:44 PM**

Any rumors or confirmations for large construction projects for 2020?

Dan0myte · #**9706** Posted **Dec 4, 2019, 3:12 PM**

Quote:

Originally Posted by one_brick_at_a_time

Any rumors or confirmations for large construction projects for 2020?

Royalty Developments has bought the Capital Pointe lot. I would expect a development plan to be released in 2020.

https://www.cbc.ca/news/canada/saskatchewan/capital-pointe-lot-tentative-deal-reached-1.5383533

one_brick_at_a_time · #**9707** Posted **Dec 4, 2019, 4:35 PM**

Quote:

Originally Posted by Dan0myte

Royalty Developments has bought the Capital Pointe lot. I would expect a development plan to be released in 2020.

https://www.cbc.ca/news/canada/saskatchewan/capital-pointe-lot-tentative-deal-reached-1.5383533

Hope they will actually follow through with a tower development.

Dan0myte · #**9708** Posted **Dec 4, 2019, 4:39 PM**

Quote:

Originally Posted by one_brick_at_a_time

Hope they will actually follow through with a tower development.

It wouldn't surprise me if the lot was returned back to it's original purpose and a hotel was built there. As seen by the recent NHL Heritage Classic, when a major event comes to town we fail horribly on room availability. A prime downtown location with short travel time to Mosaic Stadium is a good place to invest.

jigglysquishy · #**9709** Posted **Dec 4, 2019, 5:05 PM**

Quote:

Originally Posted by Dan0myte

It wouldn't surprise me if the lot was returned back to it's original purpose and a hotel was built there. As seen by the recent NHL Heritage Classic, when a major event comes to town we fail horribly on room availability. A prime downtown location with short travel time to Mosaic Stadium is a good place to invest.

Anyone who has met Anthony knows a hotel is very much on his radar. He wants four things downtown. A taxpayer funded arena on his land. More parking. A hotel owned by him. A west downtown Tims.

LittleBoy · #**9710** Posted **Dec 4, 2019, 7:31 PM**

Quote:

Originally Posted by jigglysquishy

Anyone who has met Anthony knows a hotel is very much on his radar. He wants four things downtown. A taxpayer funded arena on his land. More parking. A hotel owned by him. A west downtown Tims.

Does he actually have the capital to do a project this size? A 15+ story tower at that site would be $30-40 million at a bare minimum. If he is planning anything smaller than 15 stories, this will be a disappointment. If the city just approved another developer without the capital to complete the project, this will be a disappontment. If he has the capital and the desire to build a 15+ story tower at the site, this could be one of the more significant developments in Reginas history. Fingers crossed

Stormer · #**9711** Posted **Dec 4, 2019, 7:48 PM**

Quote:

Originally Posted by Dan0myte

It wouldn't surprise me if the lot was returned back to it's original purpose and a hotel was built there. As seen by the recent NHL Heritage Classic, when a major event comes to town we fail horribly on room availability. A prime downtown location with short travel time to Mosaic Stadium is a good place to invest.

The Regina hotel market is very weak right now. Big events are nice but they don't justify a new build.

Stormer · #**9712** Posted **Dec 4, 2019, 7:50 PM**

Quote:

Originally Posted by LittleBoy

Does he actually have the capital to do a project this size? A 15+ story tower at that site would be $30-40 million at a bare minimum. If he is planning anything smaller than 15 stories, this will be a disappointment. If the city just approved another developer without the capital to complete the project, this will be a disappontment. If he has the capital and the desire to build a 15+ story tower at the site, this could be one of the more significant developments in Reginas history. Fingers crossed

No one is building a 15+ storey tower downtown anytime soon.

spictacular mcluvin · #**9713** Posted **Dec 4, 2019, 10:15 PM**

Quote:

Originally Posted by Stormer

No one is building a 15+ storey tower downtown anytime soon.

I concur.
Do we ever build 5-10 story buildings anymore? It seems they're either high rises 15+ or they're only 2-5 stories like Wingate by Wyndham on the corner of Broad and Sask Dr.
I know we're not in Europe but I think the 5-10 story towers are the most appealing visually IMHO but maybe they're not economical to build?

J-Walker · #**9714** Posted **Dec 4, 2019, 10:58 PM**

Quote:

Originally Posted by LittleBoy

Does he actually have the capital to do a project this size? A 15+ story tower at that site would be $30-40 million at a bare minimum. If he is planning anything smaller than 15 stories, this will be a disappointment. If the city just approved another developer without the capital to complete the project, this will be a disappontment. If he has the capital and the desire to build a 15+ story tower at the site, this could be one of the more significant developments in Reginas history. Fingers crossed

Don’t cross your fingers too tightly. News article indicated the sale was conditional on the City approving the site to be zoned for parking.

jigglysquishy · #**9715** Posted **Dec 4, 2019, 11:01 PM**

The City allowing a parking lot there would be American style corruption.

LittleBoy · #**9716** Posted **Dec 4, 2019, 11:17 PM**

Quote:

Originally Posted by spictacular mcluvin

I concur.
Do we ever build 5-10 story buildings anymore? It seems they're either high rises 15+ or they're only 2-5 stories like Wingate by Wyndham on the corner of Broad and Sask Dr.
I know we're not in Europe but I think the 5-10 story towers are the most appealing visually IMHO but maybe they're not economical to build?

Actually anything up to 6 stories generally costs about 25% less than above 6 stories due to the necessity to switch from wood framing to steel. However, I believe that transition would be much better served by midrise development. A dense transition full of 3-6 story buildings and a dense downtown full of 10+ story towers makes much more sense than putting midrise downtown and skyscrapers in transition. The reason everyone loves iconic midrise cities in Europe is due to the cohesion of neighbourhoods, and that cohesion seems to be completely lost in Regina aside from Canterbury Gardens

LittleBoy · #**9717** Posted **Dec 4, 2019, 11:21 PM**

Quote:

Originally Posted by J-Walker

Don’t cross your fingers too tightly. News article indicated the sale was conditional on the City approving the site to be zoned for parking.

If this is true then I've officially lost all hope. Does nobody see an issue with earmarking millions of dollars to develop a highrise district in the Railyards while allowing some of your most important existing downtown space to be turned into parking?

Draftsman · #**9718** Posted **Dec 5, 2019, 12:09 AM**

No surprise, but disappointing nonetheless.

Story from 980 CJME News...

https://www.cjme.com/2019/12/04/housing-sales/

blacktrojan3921 · #**9719** Posted **Dec 5, 2019, 9:46 AM**

Quote:

Originally Posted by jigglysquishy

The City allowing a parking lot there would be American style corruption.

It would be a real Dave move there, Dave. xD

pappcam · #**9720** Posted **Dec 5, 2019, 1:36 PM**

Did anyone actually seriously think that it wouldn't eventually be a parking lot once the project was cancelled and the hole was filled?