Regina | Capital Pointe | 29F | 11F | 91M | ?M | Cancelled

[someguy]

Originally Posted by Mian

Dominique told me that this project is a go, and not only that, but also that the city has plans to build additional high-dense residentials around the downtown core. Part of their Walk to Downtown and 2020 plan.

The city doesn't develop property, so to say that they have plans to build would be inaccurate. They would probably support new development, but would not be a party to anything other than providing approval.

The city is also not involved in financing large projects, so your contact would not know about the fine details, she is simply making assumptions.

IMO, any information you got from the city is hearsay.

[tenteno2]

Originally Posted by someguy

The city doesn't develop property, so to say that they have plans to build would be inaccurate. They would probably support new development, but would not be a party to anything other than providing approval.

The city is also not involved in financing large projects, so your contact would not know about the fine details, she is simply making assumptions.

IMO, any information you got from the city is hearsay.

Dominique happens to be male...
The information he provided also happens to be accurate; or at least accurate-enough that we would be splitting hairs on definitions to decide who is "right".

Is this hearsay? The developers for Capital Point cooperated at length with both the City staff and Planning Commision during the planning stages. It is believable that they are sharing some of their project details with the City at this point.

[Stormer]

A friend who was at the sales centre yesterday says he was told half the units are sold. No other info other than construction will start "soon", with occupany early 2013.

[TechnicalRecession]

Originally Posted by Stormer

A friend who was at the sales centre yesterday says he was told half the units are sold. No other info other than construction will start "soon", with occupany early 2013.

So the question is have they really sold 50%, I mean that was the story back in the summer, have they really not sold any more units since summer? It's looking more and more like they haven't, thus the delay. It's the same with the Gardens on Rose, they've been saying they have sold 37 units for months, and that is more than 50% but they are not starting construction supposedly until January.

That is the problem with these big condo developments, in order to encourage sales they tell people that construction is imminent, that they've hit the magic 50% number. And potential buyers are gonna want to know when they are gonna get possession, if they have no idea of when that will be maybe people are less likely to buy. It's all a marketing game.

Having said all that I am hopeful this project goes ahead but am starting to think that sales are not as high as they are saying.

[prairieguy]

Don't panic, Regina! The 2nd Avenue Lofts in Saskatoon (conversion of old Bay building) was an arduous, painful and slow process....but it happened and all units were sold! I agree with previous posters:

- residential properties of this scale seem to encounter several delays and seldom succeed in achieving original timelines
- I also agree that the 'marketing' of these units likely have an element of deception to them (re: # of units sold, possession date, etc.) so that they can 'prompt' prospective buyers to get in early

I really do hope that this project proceeds...great addition to Regina and Saskatchewan!

[Chaps]

Rumour has it that the riders arebidding for the 2013 grey cup...so the developers are going to want to get this up and operating as that whole week is a guaranteed 100% booked rooms week for the hotel.

[kiwi4life]

Originally Posted by Chaps

Rumour has it that the riders arebidding for the 2013 grey cup...so the developers are going to want to get this up and operating as that whole week is a guaranteed 100% booked rooms week for the hotel.

yes they are, hope regina gets it too

[saskhomeboy]

Originally Posted by yeeg

You just did and you didnt know it...

It all comes down to the mighty dollar...Mosaic Tower has it all in place while Capital pointe is trying to get it in place...Which is what the previous poster is also trying to say?

I agree...there is no good reason to delay if the financing, permits, and presales are in place. Any delay in starting construction means that their costs are going up. I wouldn't rely on realtors to tell me definitively whether the construction financing is in place. The developer may have a commitment letter from a bank, but they probably have a list of conditions a mile long, and still need the equity (25% of the construction cost) into the building first before their financing will even kick in.

[brithgob]

With a condo development, they have to make an announcement fairly early so they can start pre-selling units. With the Mosaic Tower, they could line up their major tenant behind the scenes yet delay a public announcement as long as possible, until it was literally time to apply for zoning/building permits. You say Harvard announces it, then starts building, and that's true. But we knew about that project a long time before then, going all the way back to when businesses on the site like ComicReaders started to get notices that they would have to move at a future date. So I'm not sure the differences between the two projects are all that great -- it's just that one has to make a public announcement early on, and the other does not.

[CCF]

The CP Facebook group has pictures of the internal demo going on at The Plains. Maybe that will help alleviate some of the concerns.

[Stormer]

Originally Posted by CCF

The CP Facebook group has pictures of the internal demo going on at The Plains. Maybe that will help alleviate some of the concerns.

from fb:

There have been a lot of questions around the demolition. Just to clarify with everyone that in fact we are in the process of demolition. There are some materials in the building that need to be removed and recycled to environmental standards before it can be completely demolished. Below are some photos of the process that we are on as we speak.

This is actually true. If they want LEED certification for the new building there is a certain amount of recycling they must do on the demo to qualify.

[drumuser]

the exterior is now all blocked off. all areas including in front of albert is fenced off.

i will also add that, i am friends with the current people that are doing some demo in there right now. it has been active in the last month, just not visable to the naked eye. as one was posting earlier, things take time....

[Mian]

Originally Posted by drumuser

the exterior is now all blocked off. all areas including in front of albert is fenced off.

Whenever possible ... could someone take pics of the area and post them here regularly as the scene changes.

I'm sure we'd all love to see any new developments as they happen. Thanks,

[Mian]

Just got a notification from the Builder, as follows -

"Soon you will be seeing the old landmark disappearing, however prior to demolition, safety regulations must be met. Currently, Silverado demolition is in process of ensuring compliance to these regulations prior to demolition. Silverado demolition team's work is not yet apparent on the exterior of the Plains hotel, but will be evident in February when they begin to break the exterior shell of the building. Shortly after, focus can be shifted to digging what will be the largest excavation downtown Regina has seen in many years."

[North_Regina_Boy]

Originally Posted by Mian

Just got a notification from the Builder, as follows -

"Soon you will be seeing the old landmark disappearing, however prior to demolition, safety regulations must be met. Currently, Silverado demolition is in process of ensuring compliance to these regulations prior to demolition. Silverado demolition team's work is not yet apparent on the exterior of the Plains hotel, but will be evident in February when they begin to break the exterior shell of the building. Shortly after, focus can be shifted to digging what will be the largest excavation downtown Regina has seen in many years."

Awesome! Looking forward to seeing it come down!

[North_Regina_Boy]

Originally Posted by kiwi4life

yes they are, hope regina gets it too

Umm is there any doubt? (CFL Pondering) Regina, Saskatchewan... humm Biggest population of sports crazy nuts anywhere in Canada? Huge Revenue of own team merchandise.

Yup I think we will go with Saskatchewan in 2013. What?...wait huh? Toron-who? I didn't think so.

GO RIDERS GO!
LONG LIVE THE CFL!

[jw6969]

Drove by the site today, its Feb and still nothing, the plywood fence is still there.

[skthunder77]

Originally Posted by jw6969

Drove by the site today, its Feb and still nothing, the plywood fence is still there.

It's February 4th? There are still 24 days in the month...

[UPP]

Originally Posted by Chaps

Rumour has it that the riders arebidding for the 2013 grey cup...so the developers are going to want to get this up and operating as that whole week is a guaranteed 100% booked rooms week for the hotel.

Well, lets hope the same thing doesn't happen like with the last Cup in Regina when the Sandman and Holiday Inn weren't finished on time for the week, leaving visitors in the lurch.

[Migs]

Got an email last week saying exterior demolishion is to take place mid February.