Winnipeg | Pembina @ Jubilee - Page 18

borkborkbork · #**341** Posted **May 27, 2024, 8:37 PM**

Quote:

Originally Posted by WinCitySparky

I doubt anyone is going to pay $5 mil for a perfectly functioning commercial building just to tear it down, especially with hundreds of potential customers about to move into brand new dense buildings about to be built right around it, but anything’s possible.

6% cap rate on a recently spruced up and fully occupied building? Doubt they'll get anyone interested in buying it to demo it.

There might be some buyers who figure they like it as an operating asset for now, and think of the longer-term redevelopment potential as a fallback if they have trouble getting tenants in the long run.

bomberjet · #**342** Posted **May 27, 2024, 8:38 PM**

https://www.carringtonholdings.ca/po.../rathgar-tower

FactaNV · #**343** Posted **May 27, 2024, 8:39 PM**

Quote:

Originally Posted by bomberjet

https://www.carringtonholdings.ca/po.../rathgar-tower

A little plain Jane but a great project on the RT nonetheless.

borkborkbork · #**344** Posted **May 27, 2024, 8:40 PM**

Quote:

Originally Posted by bomberjet

The one that looks like the new tower on Stradbrook. Maybe someone can find the render.

Hopefully this project will have better luck than that one...

FactaNV · #**345** Posted **May 27, 2024, 8:43 PM**

Quote:

Originally Posted by borkborkbork

Hopefully this project will have better luck than that one...

My brother is working on it as we speak. It's a bloody mess for 7 floors. He said it would have been better to let the floor burn, it would have been contained would have costed way less to fix haha.

Justanothermember · #**346** Posted **May 27, 2024, 8:58 PM**

Quote:

Originally Posted by FactaNV

My brother is working on it as we speak. It's a bloody mess for 7 floors. He said it would have been better to let the floor burn, it would have been contained would have costed way less to fix haha.

Did he give any indication as to when that building will be habitable again?

FactaNV · #**347** Posted **May 27, 2024, 9:14 PM**

Quote:

Originally Posted by Justanothermember

Did he give any indication as to when that building will be habitable again?

It's gonna be a hot minute. It's basically stripped to the concrete with everything getting rebuilt for seven floors. At least that's what he told me.

Justanothermember · #**348** Posted **May 27, 2024, 9:24 PM**

Quote:

Originally Posted by FactaNV

It's gonna be a hot minute. It's basically stripped to the concrete with everything getting rebuilt for seven floors. At least that's what he told me.

Ah well, that is a shame to hear. Hopefully within a year at the most if those works are on track.

WinCitySparky · #**349** Posted **May 27, 2024, 9:55 PM**

Sorry what burnt down? Missed this somewhere.

Kris22 · #**350** Posted **May 27, 2024, 11:23 PM**

Quote:

Originally Posted by WinCitySparky

Sorry what burnt down? Missed this somewhere.

The top of the new(ish) tower that was built just south of the winter club, by Stradbrook station. About a year ago people were posting photos and videos of it on fire and they ended up needing to permanently relocate all the tenants.

The building proposal by jubilee station had a very similar design.

Rutlander · #**351** Posted **May 27, 2024, 11:26 PM**

Quote:

Originally Posted by bomberjet

https://www.carringtonholdings.ca/po.../rathgar-tower

Jubilee RT station in background.

WinCitySparky · #**352** Posted **May 27, 2024, 11:31 PM**

Quote:

Originally Posted by Kris22

The top of the new(ish) tower that was built just south of the winter club, by Stradbrook station. About a year ago people were posting photos and videos of it on fire and they ended up needing to permanently relocate all the tenants.

The building proposal by jubilee station had a very similar design.

Ohhhh yes yes, thanks for clarifying

The Jabroni · #**353** Posted **May 28, 2024, 5:12 AM**

Quote:

Originally Posted by bomberjet

https://www.carringtonholdings.ca/po.../rathgar-tower

It's like the 70's are back with the drab-slab designs, similar to that aforementioned apartment building that "self immolated" at the top floor last year.

Did they ever found out the cause of that fire? A quick Google search says it may have been electrical related.

Biff · #**354** Posted **May 28, 2024, 1:00 PM**

They are currently building the 16 storey building. Phase 2 is expected to start next year - 20 storeys.

bomberjet · #**355** Posted **May 28, 2024, 1:32 PM**

I like the look of the Stradbrook tower. This one is slightly more grey. I like these types of buildings much better than say that one on Pembina with the skyline detailed in grey, white, yellow, whatever colours are on that thing.