The Official PEI Project Thread

[Sasha]

I spend much more time on urbantoronto.ca, so going from "8325 unit master planned community" to "new Tim Hortons APPROVED" is very funny.

[Five Four]

Originally Posted by Just an Islander

Bed Bath & Beyond
Bed Bath & Beyond's Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a U.S. bankruptcy.

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy Alvarez & Marsal showed. Alvarez & Marsal has been appointed as a monitor of the business in the Canadian court case.

The Canadian business does not have the "capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without access to cash and the support" from the parent company and its lenders, according to the filing.

As of Jan. 31, the company employed approximately 387 full-time employees and 1,038 part-time workers in connection with its retail operations across Canada, according to the filing.

Bed Bath & Beyond Canada Ltd., was granted an initial order for creditor protection by the Ontario Superior Court of Justice Friday under the Companies' Creditors Arrangement Act, according to Alvarez & Marsal.

Bed Bath & Beyond Canada had a net loss of $99.5 million for the nine-month period ending Nov. 26, 2022, the documents show.

As of Nov. 26, Bed Bath & Beyond Canada's assets were valued at around $480.1 million, the documents show, while its total liabilities were worth around $429.7 million.

Buybuy BABY Canada to shut 11 stores
Adjusted earnings for the past three financial years were negative, and the Canadian arm of the retail giant contributed significant negative adjusted earnings margins to the parent company, the documents said.

U.S. parent company Bed Bath & Beyond Inc. has shut scores of its stores across the country and warned last month that it may need to file for bankruptcy protection as it was unable to pay back its loans.

Lol, I remember saying acouple month's ago that Bed Bath and Beyond would file for bankruptcy sometime soon. The only person I know who actually shop's there is my mother.

[Siriusb]

Originally Posted by CryingAutumn

Lol, I remember saying acouple month's ago that Bed Bath and Beyond would file for bankruptcy sometime soon. The only person I know who actually shop's there is my mother.

It used to be popular until the prices went through the roof.

[josh_cat_eyes]

Originally Posted by Siriusb

It used to be popular until the prices went through the roof.

Yeah who can afford a $50 pillowcase or a $300 bedset.

[Five Four]

I heard a rumour of some kind of proposal for retail just off the interchange of the TCH and Cornwall road. Does anybody know anything else..?

[josh_cat_eyes]

Originally Posted by CryingAutumn

I heard a rumour of some kind of proposal for retail just off the interchange of the TCH and Cornwall road. Does anybody know anything else..?

Other than it was going to be inevitable since that highway was built? I’m going to guess Home Hardware, Shoppers, Dollarama and Sobeys.

[MonctonRad]

Originally Posted by josh_cat_eyes

Other than it was going to be inevitable since that highway was built? I’m going to guess Home Hardware, Shoppers, Dollarama and Sobeys.

i.e. - the usual suspects..............

[josh_cat_eyes]

Originally Posted by MonctonRad

i.e. - the usual suspects..............

Yeah I’m literally just guessing, but it’s right off the highway and Cornwall doesn’t have any of these stores. Perhaps even a Kent, but if greater Charlottetown is going to get another Kent it’ll be in Stratford before I’ll be in Cornwall.

[TGK]

Originally Posted by josh_cat_eyes

Yeah I’m literally just guessing, but it’s right off the highway and Cornwall doesn’t have any of these stores. Perhaps even a Kent, but if greater Charlottetown is going to get another Kent it’ll be in Stratford before I’ll be in Cornwall.

The only land right around the Cornwall Road / Bypass that has sold is 20-some acres to Dr William Best's company. Not sure what sort of investments he's into (residential, commercial?), but it's a big parcel. The rest of the land is owned by the same people/companies that held it before the highway went in.

[Five Four]

Originally Posted by TGK

The only land right around the Cornwall Road / Bypass that has sold is 20-some acres to Dr William Best's company. Not sure what sort of investments he's into (residential, commercial?), but it's a big parcel. The rest of the land is owned by the same people/companies that held it before the highway went in.

I know there's a plan to open a Dollarama in Cornwall, so it might be there..? Of course it's just speculation weather anything will be built there. Can't really be to certian. Though if something does get built, it'll add alot more use to that interchange.

[Ryan23]

Bay Shore home health is moving in to one of the units in the Sears mall.

[Siriusb]

UPEI School of Medicine



Construction started quickly with the footings going in presently.

Note the crane in the background. It's installing the steel for the mall albeit small expansion and redevelopment.

[Ryan23]

Saw a sign for a place called Rudy's Chicken in the old Mikes restaurant last night.

[Siriusb]

Rental Issue in Charlottetown

[TGK]

Some photos of a major renovation plan of Confederation Centre are shared on this Instagram: https://www.instagram.com/peislandedition/

Not sure how I feel about it. Probably better things society could put $100M toward. Artist’s renderings look nice, though.

[Siriusb]

Deputy prime minister brings $19.5M for UPEI medical school

CBC NEWS PEI

Deputy Prime Minister Chrystia Freeland was in Charlottetown Thursday, with an announcement of federal funding for UPEI's medical school.
Ottawa will contribute $19.5 million from its infrastructure budget for the school. 

MORE HERE 》 https://www.cbc.ca/news/canada/prince-edward-island/pei-freeland-upei-medical-school-1.6765423

Work is well underway at the site.

[Siriusb]

Confederation Centre invites public to weigh in on planned $65M overhaul

CBC NEWS PEI

Accessibility and environmental impact were not priorities in the 1960s'

[JamesCurtis24]

Originally Posted by Siriusb

Rental Issue in Charlottetown

I have to say something about this. With the prices of rentals ridiculously high here, it's when I find things like this that I realize that rental pricing in Charlottetown has got out of hand and is driven purely by greed. At 750 sq meters (8000+ sq ft), I guess that's why!! Lol RIDICULOUS!!
My daughter lives in Ottawa and rents a 1900 sq ft similar to this one below for $2100.

Tell me about it... I've been searching for months 3+ months, refreshing kijiji, Killam, Capreit, Bevan Enterprises non-stop, several times every waking hour, for something that isn't $1700+ without utilities, or that isn't disgustingly overpriced i.e. a unit that should be $890 going for $1100 without utilities, making it closer to $1300.

There is nothing. And the 2 or 3 times things have popped up, if the listing is more than 15 minutes old, you might as well not even bother because they've probably already gotten 20 or 30 responses.

I've also been lurking this forum for years, out of even further desperation, trying to find out stuff that is in the process of being built, and reaching out to the builders to see if they have unit availability.

That's how dire the situation is on the Island.

Another common trend is people making listings for "$800", which initially, you think this might be something, and then you look at it, it's $800 per person, and they're renting 3 bedrooms, so it's actually $2400.

The options are basically dingy & significantly overpriced, or $1700+ aka more than you'd pay for a mortgage.

That's my rant lol.

[josh_cat_eyes]

Originally Posted by JamesCurtis24

Tell me about it... I've been searching for months 3+ months, refreshing kijiji, Killam, Capreit, Bevan Enterprises non-stop, several times every waking hour, for something that isn't $1700+ without utilities, or that isn't disgustingly overpriced i.e. a unit that should be $890 going for $1100 without utilities, making it closer to $1300.

There is nothing. And the 2 or 3 times things have popped up, if the listing is more than 15 minutes old, you might as well not even bother because they've probably already gotten 20 or 30 responses.

I've also been lurking this forum for years, out of even further desperation, trying to find out stuff that is in the process of being built, and reaching out to the builders to see if they have unit availability.

That's how dire the situation is on the Island.

Another common trend is people making listings for "$800", which initially, you think this might be something, and then you look at it, it's $800 per person, and they're renting 3 bedrooms, so it's actually $2400.

The options are basically dingy & significantly overpriced, or $1700+ aka more than you'd pay for a mortgage.

That's my rant lol.

Would it be worth it to rent in Summerside or somewhere else outside charlottetown and commute?

[JamesCurtis24]

Originally Posted by josh_cat_eyes

Would it be worth it to rent in Summerside or somewhere else outside charlottetown and commute?

It's unfortunately an Island wide issues, I haven't noticed any better availability or pricing outside of Charlottetown.