Winnipeg | 300 Saint Mary Avenue | 14F | Mixed-use Apartments

[pspeid]

Originally Posted by WinCitySparky

lol gotta temper those expectations you know

[ColdRain&Snow]

I noticed the building is no longer for sale on Realtor.ca. Anyone have an update on the sale?

[FactaNV]

Originally Posted by ColdRain&Snow

I noticed the building is no longer for sale on Realtor.ca. Anyone have an update on the sale?

It's now for sale on Collier's haha.

https://www.collierscanada.com/en-ca...ada/can2012491

Developers and developer adjacents, is there any chance this gets built or is it basically dead? Would that superstructure even be useful after sitting this long exposed?

[lotw_wpg]

Originally Posted by FactaNV

It's now for sale on Collier's haha.

https://www.collierscanada.com/en-ca...ada/can2012491

Developers and developer adjacents, is there any chance this gets built or is it basically dead? Would that superstructure even be useful after sitting this long exposed?

I'm pretty sure someone made an offer to buy, and it's going through the motions. This could be a formality unless the buyers dropped out.

[bowling_ball]

There's movement on this in the background. It's no longer for sale. That's all I can say for now.

[ColdRain&Snow]

Originally Posted by bowling_ball

There's movement on this in the background. It's no longer for sale. That's all I can say for now.

Thanks for the update! Very excited to hear what becomes of this project.

[Justanothermember]

Originally Posted by bowling_ball

There's movement on this in the background. It's no longer for sale. That's all I can say for now.

Interesting. Hopefully the original design will remain intact.

[WinCitySparky]

Originally Posted by FactaNV

It's now for sale on Collier's haha.

https://www.collierscanada.com/en-ca...ada/can2012491

Developers and developer adjacents, is there any chance this gets built or is it basically dead? Would that superstructure even be useful after sitting this long exposed?

Yes the structure will be fine as long as bulk water is properly managed at ground level.

[trueviking]

could be a long time before any activity shows up on site again. Months of lawyers, redesign, new construction drawings, re-tendering, building permits...customary months of budget cutting....

[FactaNV]

Originally Posted by trueviking

could be a long time before any activity shows up on site again. Months of lawyers, redesign, new construction drawings, re-tendering, building permits...customary months of budget cutting....

I'm sure this will be designed by accountants but any mid rise/high rise building is better than a rotting superstructure.

[Labroco]

The existing caveat place on the site by the previous owner negating third party paid parking makes a viable development tenuous at best…

This was done to ensure no additional paid parking would be competing with the existing adjacent lots.

I am unsure what the solution will be.

[trueviking]

^ why would a development require third party paid parking to be viable?...most developments don't have parkades for public use....they are money losers.

[trueviking]

Originally Posted by FactaNV

I'm sure this will be designed by accountants but any mid rise/high rise building is better than a rotting superstructure.

for sure....something will be built....I'm sure the design and drawing phase has already begun, so the timelines aren't necessarily linear.

[FactaNV]

Originally Posted by trueviking

for sure....something will be built....I'm sure the design and drawing phase has already begun, so the timelines aren't necessarily linear.

I look forward to seeing the bastardization of this previous beautifully designed project lmao

[drew]

Originally Posted by trueviking

could be a long time before any activity shows up on site again. Months of lawyers, redesign, new construction drawings, re-tendering, building permits...customary months of budget cutting....

New building Code too. Just to muddy the waters a bit

[trueviking]

Yup ^

There were lots of advantages to just completing the building.

[Labroco]

Originally Posted by trueviking

^ why would a development require third party paid parking to be viable?...most developments don't have parkades for public use....they are money losers.

This caveat is a hinderance to potential tenancy, purchasers and completion.

We have had discussions with the listing agents and the caveat IS a recurring problem the way it’s written and potentially limiting. One more risk for a potential purchaser. ( There are liens on the property from the GC and probably by the consultants as well).

I’m flying in for a Wpg 150 reception on Friday at City Hall and will make a point of extracting some current information on this issue.

It’s a difficult situation for sure…

[Labroco]

This project is now under contract with subject removal by end of February. If subjects removed and there are no extensions, closing scheduled for Q2 2024.

Here’s hoping..,

[ColdRain&Snow]

Originally Posted by Labroco

This project is now under contract with subject removal by end of February. If subjects removed and there are no extensions, closing scheduled for Q2 2024.

Here’s hoping..,

Thanks for the update!

[FactaNV]

Originally Posted by Labroco

This project is now under contract with subject removal by end of February. If subjects removed and there are no extensions, closing scheduled for Q2 2024.

Here’s hoping..,

Great update. We may have some new construction come summer if this goes through!