Winnipeg Construction X - Page 247

trueviking · #**4921** Posted **Apr 28, 2021, 10:16 PM**

The city looked into a parking lot tax but it requires provincial approval and we all know how that goes.

trueviking · #**4922** Posted **Apr 28, 2021, 10:28 PM**

Quote:

Originally Posted by Labroco

The real measure over the next 12 months is if the government subsidized St Regis site is built on.

The developer paid market value for the property.

optimusREIM · #**4923** Posted **Apr 28, 2021, 10:34 PM**

I wonder if the actual Skycity lot will end up being sold any time soon or is it going to be caught up in the legal battles for the foreseeable future?

Labroco · #**4924** Posted **Apr 29, 2021, 1:38 AM**

Quote:

Originally Posted by trueviking

The developer paid market value for the property.

I’m suggesting that the “City” payed close to $8,000,000 to acquire the site, did without years of realty tax and incurred carrying costs for a number of years putting its real cost very close to $10,000,000.

If it was sold for $2,800,000 dollars someone ate the difference. That is what the subsidized cost to offer it to a developer for 2.8. vs them buying it from the original owner and ending up in the same spot. If there was no development agreement attached to the site it would be worth even more. This site would not be available today if the “City” did not subsidize this 2.8M opportunity.

That is why I refer to it as subsidized.

(I believe my purchase price number is accurate but may be corrected)

I was also told by CV there was no VTB and cash has changed hands. I have not searched title or reviewed the development agreement so will accept that comment at face value.

Labroco · #**4925** Posted **Apr 29, 2021, 1:56 AM**

Quote:

Originally Posted by optimusREIM

I wonder if the actual Skycity lot will end up being sold any time soon or is it going to be caught up in the legal battles for the foreseeable future?

Well they turned down our large cash offer...

I believe it has been sold as a parking lot to a very large institutional investor. They need the parking for their own buildings. That lot is not going anywhere anytime soon. Tax them all you want the rates will just rise.

Labroco · #**4926** Posted **Apr 29, 2021, 2:12 AM**

What does “ increase modal shift” mean?

cllew · #**4927** Posted **Apr 29, 2021, 2:56 AM**

Quote:

Originally Posted by Labroco

What does “ increase modal shift” mean?

As i understand the phrase it means people moving from private vehicles to public transit/cycling/bicycles

esquire · #**4928** Posted **Apr 29, 2021, 11:55 AM**

Quote:

Originally Posted by Labroco

That lot is not going anywhere anytime soon. Tax them all you want the rates will just rise.

Sounds to me like raising taxes on parking lots is a win-win situation... either the lots remain and the City brings in more revenue from them, or they might actually get developed.

davequanbury · #**4929** Posted **Apr 29, 2021, 12:42 PM**

Quote:

Originally Posted by Labroco

You cannot socially engineer development in DT Winnipeg by taxing landowners.

Try the carrot... not the stick.

Without diminishment of poverty and drug abuse it also will be a very difficult road to climb.

I get your analogy, and you probably have a more nuanced grasp on this than I , but...

As long as one can sit back and reap profit from operating a surface lot, one will not be tempted by a carrot, one is already eating chocolate cake.

After all, why should these individuals hold up development just because they are making enough money for now that they don't need to care to do anything?

When you think about it, there is a real social cost to us all while these parcels remain underused. They delay the creation of a more vibrant downtown.

A more vibrant downtown will certainly improve the social conditions which you point to as hindering development.

BKB · #**4930** Posted **Apr 29, 2021, 1:21 PM**

It sounds like someone's family owns surface parking lots.

1ajs · #**4931** Posted **Apr 29, 2021, 1:32 PM**

u own a building if u have parking with it its easyer to rent it vs not having parking to go with it

H2man · #**4932** Posted **Apr 29, 2021, 1:53 PM**

Quote:

Originally Posted by esquire

Sounds to me like raising taxes on parking lots is a win-win situation... either the lots remain and the City brings in more revenue from them, or they might actually get developed.

Yeah and this is kind of the point I was trying to make last page regarding moving new revenue to improve transit. Even if the tax doesn't work and surface lot owners sit on them and either take the hit to their pockets or pass it on to customers, the city makes more much-needed revenue as a worst case scenario.

sleepyeyed · #**4933** Posted **Apr 29, 2021, 6:19 PM**

proposal for 835 Notre Dame Ave (NW corner of Tecumseh and Notre Dame) from BLDG Architects - 45 units, 3 CRU's, marketed to medical students

from winnipeg.ca

former parking lot!

bomberjet · #**4934** Posted **Apr 29, 2021, 6:46 PM**

I was by HSC today and there is a redish brick building adding floors to the top. McDermot and Furby. Can't remember what was going on with that one.

Looks like at least 2 floors being added. Steel frame with some kind of pre-fab wood floor system.

esquire · #**4935** Posted **Apr 29, 2021, 6:55 PM**

Quote:

Originally Posted by sleepyeyed

proposal for 835 Notre Dame Ave (NW corner of Tecumseh and Notre Dame) from BLDG Architects - 45 units, 3 CRU's, marketed to medical students

from winnipeg.ca

former parking lot!

Interesting, that's the one Labroco was talking about a while back. I recall there used to be a Shell Station there probably until the 90s, and it has been parking ever since. Always nice to see an old service station site get redeveloped.

I'm curious about their target market though, a piece of stroad in the West End doesn't seem like the most appealing place for med/pharm/dentistry students to live even if it's close to school. I mean, I'm glad it's being built, but I honestly wonder if it could be a tougher sell than the developer is anticipating?

BKB · #**4936** Posted **Apr 29, 2021, 8:03 PM**

Quote:

Originally Posted by esquire

Interesting, that's the one Labroco was talking about a while back. I recall there used to be a Shell Station there probably until the 90s, and it has been parking ever since. Always nice to see an old service station site get redeveloped.

I'm curious about their target market though, a piece of stroad in the West End doesn't seem like the most appealing place for med/pharm/dentistry students to live even if it's close to school. I mean, I'm glad it's being built, but I honestly wonder if it could be a tougher sell than the developer is anticipating?

Some of those students already live in housing one door to the east on Notre Dame.

zalf · #**4937** Posted **Apr 29, 2021, 8:04 PM**

Quote:

Originally Posted by esquire

I'm curious about their target market though, a piece of stroad in the West End doesn't seem like the most appealing place for med/pharm/dentistry students to live even if it's close to school. I mean, I'm glad it's being built, but I honestly wonder if it could be a tougher sell than the developer is anticipating?

The National Microbiology Laboratory/Canadian Science Centre for Human and Animal Health is also a block away. They get lots of students and visiting scientists.

esquire · #**4938** Posted **Apr 29, 2021, 8:45 PM**

Quote:

Originally Posted by BKB

Some of those students already live in housing one door to the east on Notre Dame.

Really? I only knew a handful of med students but none of them lived anywhere remotely near HSC/Bannatyne Campus.

BKB · #**4939** Posted **Apr 29, 2021, 8:54 PM**

Quote:

Originally Posted by esquire

Really? I only knew a handful of med students but none of them lived anywhere remotely near HSC/Bannatyne Campus.

The Medical Centre Apartments are for students of HSC or University of Manitoba campus.

Labroco · #**4940** Posted **Apr 29, 2021, 10:57 PM**

Quote:

Originally Posted by esquire

Interesting, that's the one Labroco was talking about a while back. I recall there used to be a Shell Station there probably until the 90s, and it has been parking ever since. Always nice to see an old service station site get redeveloped.

I'm curious about their target market though, a piece of stroad in the West End doesn't seem like the most appealing place for med/pharm/dentistry students to live even if it's close to school. I mean, I'm glad it's being built, but I honestly wonder if it could be a tougher sell than the developer is anticipating?

We sold that parking lot ...

A market driven transaction with none of this illegal and ill conceived taxation on use to motivate a sale and development.

I think you guys should focus parking lot anger on downtown churches who pay NO realty taxes and swallow blocks of developable land (Calvery Temple) and only use the lots on Sunday...

Government buildings with parking lots.

The Forks with a sea of parking.

We are the only guys who pay taxes for goodness sake!