900 Albert St | 234/203/105m | 65/56/23fl | Approved - Page 58

Ottawacurious · #**1141** Posted **May 19, 2022, 5:54 PM**

I went onto Trinity's site (https://www.trinity-group.com/news/)

Their Q4 2021 report estimates possession in Q4 2025 (https://mailchi.mp/7825b334aeed/trinity-q1-e-blast-draft-15224980); however, if you read their Q1 2022 report, for whatever reason, it is no longer identified as one of their upcoming projects (https://mailchi.mp/e3e22ecd05ac/trinity-q1-e-blast-draft-15350660).

Another bit of information to add to the puzzle.

sgera · #**1142** Posted **May 19, 2022, 6:10 PM**

Quote:

Originally Posted by Ottawacurious

I went onto Trinity's site (https://www.trinity-group.com/news/)

Their Q4 2021 report estimates possession in Q4 2025 (https://mailchi.mp/7825b334aeed/trinity-q1-e-blast-draft-15224980); however, if you read their Q1 2022 report, for whatever reason, it is no longer identified as one of their upcoming projects (https://mailchi.mp/e3e22ecd05ac/trinity-q1-e-blast-draft-15350660).

Another bit of information to add to the puzzle.

in the earnings fo rInter-Rent's REIT ..they still list it as a future project with an earliest planned start date of 1Q23

originalmuffins · #**1143** Posted **Jul 27, 2022, 10:23 PM**

🞵🞵🞵🞵🞵🞵🞵 Trinity is just letting this go into development hell. If they aren't interested - find a buyer and just off the project like they did with Gladstone. What a waste, this project should have shovels in the ground even before the other stages of Lebreton to get the ball rolling for the area....

Everything is approved, retail tenants are found, it's directly attached to two major lines of our LRT.... it's not like the demand wouldn't be there.

Harley613 · #**1144** Posted **Jul 27, 2022, 10:28 PM**

The most likely explanation I can think of is that they pushed this to the backburner immediately when Lansdowne 2.0 became a discussion. They probably don't have the resources to tackle two megaprojects at once, and only one of them has a limited timeframe. Trinity Centre would be a sure success, but that's not going to change over the next few years.

bikegypsy · #**1145** Posted **Jul 27, 2022, 11:06 PM**

Quote:

Originally Posted by Harley613

The most likely explanation I can think of is that they pushed this to the backburner immediately when Lansdowne 2.0 became a discussion. They probably don't have the resources to tackle two megaprojects at once, and only one of them has a limited timeframe. Trinity Centre would be a sure success, but that's not going to change over the next few years.

I will add to your comment that there's a limited amount of city wide resources, both human and in terms of equipment. Someone could correct me, but I'm pretty sure that the city is nearing full crane capacity.

Harley613 · #**1146** Posted **Jul 28, 2022, 1:26 AM**

Very good point. I work in construction, and at my company we have been searching high and low the past couple of months for 12 labourers at $22 an hour with fast track training to higher paid specialties, but we have only managed to fill 3 spots so far.

acottawa · #**1147** Posted **Jul 28, 2022, 1:39 AM**

I have been sceptical of this project since it was announced (including this thread).

Trinity is a developer of big box stores and mid sized residential buildings. There is little evidence they can pull of a project of this scale or have a backer or partner that has that capacity.

Harley613 · #**1148** Posted **Jul 28, 2022, 1:50 AM**

Quote:

Originally Posted by acottawa

I have been sceptical of this project since it was announced (including this thread).

Trinity is a developer of big box stores and mid sized residential buildings. There is little evidence they can pull of a project of this scale or have a backer or partner that has that capacity.

Doesn't InterRent, a REIT with a massive portfolio of rental properties nationwide, have a significant stake in this project?

acottawa · #**1149** Posted **Jul 28, 2022, 1:54 AM**

Quote:

Originally Posted by Harley613

Doesn't InterRent, a REIT with a massive portfolio of rental properties nationwide, have a significant stake in this project?

Have you seen InterRent’s portfolio? It’s mostly commie blocks and crappy walkups.

https://www.interrentreit.com/communities/portfolio/

Ottawacurious · #**1150** Posted **Jul 28, 2022, 4:33 AM**

Do you think the lawsuits are part of the reason for the delay?

waterloowarrior · #**1151** Posted **Jul 28, 2022, 12:35 PM**

Quote:

Originally Posted by Ottawacurious

Do you think the lawsuits are part of the reason for the delay?

It may be - the two companies that own the site (801 Albert Street Inc. and TIP Albert Limited Partnership) are caught up in this lawsuit
https://www.canlii.org/en/on/onsc/doc/2022/2022onsc2657/2022onsc2657.html

Dzingle Bells · #**1152** Posted **Jul 28, 2022, 2:24 PM**

Has the SPA been approved for this project or just the Zoning and OP amendments? I was speaking with a friend the other day that is working on this project and they said they were working through comments from the city to prepare for a 3rd submission for SPA. Sounded like the project was still very much on from what I gathered.

Harley613 · #**1153** Posted **Jul 28, 2022, 2:35 PM**

Quote:

Originally Posted by Dzingle Bells

Has the SPA been approved for this project or just the Zoning and OP amendments? I was speaking with a friend the other day that is working on this project and they said they were working through comments from the city to prepare for a 3rd submission for SPA. Sounded like the project was still very much on from what I gathered.

That sounds promising....and scary at the same time. What if they are chopping it down? Even worse...imagine they sent it to RLA for a Minecraft redesign?

originalmuffins · #**1154** Posted **Jul 28, 2022, 2:40 PM**

I guess there is obviously a limitation to the resources needed to get a project done - but I don't think Trinity is currently trying because as acottawa said. I think they're in over their heads because currently they have zero projects in any of the current Lebreton phases (we have Sens, Claridge, Dream, Archives Canada+OPL) so it's probably better off if they sell their portion off to big developer who can actually get the resources to get this done. Frankly don't trust them after Rideau+Chapel but that's just my opinion I guess lol.

And if they are chopping it down... that really angers me even more lol.

ServiceGuy · #**1155** Posted **Jul 28, 2022, 2:42 PM**

Quote:

Originally Posted by Harley613

I work in construction, and at my company we have been searching high and low the past couple of months for 12 labourers at $22 an hour...

Sounds like your company is coming in a little light on pay for the current market (depending on the kind of work you do) The company I work for is offering $25 for general labour but of course they need to be good workers and not just time clock punchers. At that income level a buck or two makes a difference to someone but it's still a struggle. Often times I have hired someone only to have them quit by morning break because they found a dollar / hour more somewhere else. Trying to get skilled workers is even worse these days.

waterloowarrior · #**1156** Posted **Jul 28, 2022, 2:55 PM**

It has site plan approval (https://skyscraperpage.com/forum/newreply.php?do=newreply&p=9041076) but the docs don't seem to be on the City devapps page anymore. However, there would be lots of conditions attached to the approval and other drawings to be submitted.

Harley613 · #**1157** Posted **Jul 28, 2022, 2:58 PM**

Quote:

Originally Posted by ServiceGuy

Sounds like your company is coming in a little light on pay for the current market (depending on the kind of work you do) The company I work for is offering $25 for general labour but of course they need to be good workers and not just time clock punchers. At that income level a buck or two makes a difference to someone but it's still a struggle. Often times I have hired someone only to have them quit by morning break because they found a dollar / hour more somewhere else. Trying to get skilled workers is even worse these days.

Our company has a really clear and rapid path to $28 and beyond for those who succeed at least

J.OT13 · #**1158** Posted **Jul 28, 2022, 3:40 PM**

If this project is on hold, I would think (and frankly hope) that Trinity loses credibility with potential tenants by signing leases and then not building.

originalmuffins · #**1159** Posted **Jul 31, 2022, 9:02 AM**

Quote:

Originally Posted by J.OT13

If this project is on hold, I would think (and frankly hope) that Trinity loses credibility with potential tenants by signing leases and then not building.

Agreed, this bait and switch with failing to deliver on multiple projects really irks me with Trinity. 2018 me was excited to see all what they had in the pipeline, only to not deliver on any project and completely fail with Rideau+Chapel.. sorry "tHE sToRy OF". Lol.

sgera · #**1160** Posted **Aug 10, 2022, 1:00 AM**

Well, according to Inter-rent REITs quarterly investment deck (slide 21) that came out last week, it seems like 900 Albert isn’t a dead venture but they no longer list a target completion date … building rendering and unit count still match old plan which is a good sign. They now
own 47% of the joint venture with Trinity.

https://interrentreit.com/documents/ip/2022_Q2_IP.pdf