SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled

[Cyro]

Originally Posted by esquire

A giant goal light at the top of a skyscraper is going too far even for Winnipeg IMO.

Ahh, some lighting and color above the Winnipeg skyline would be a pleasant change..maybe not glaring red but something that's diffused, it's pretty drab at this point.

[esquire]

^ Architectural lighting good, flashing goal light not so much.

[Cyro]

Originally Posted by esquire

^ Architectural lighting good, flashing goal light not so much.

yup.

[urbandreamer]

Simplicity is rock'n it. Poster of the Year?

[Arts]

Originally Posted by lilwayne

like I says

failure here would ruin this company this is a major project possibly their biggest and the way they touted and hyped it and put their names and reputations on the line if this one fall through theres going to be lots of investors out for their heads and they wont ever be able to recover.. Noone will trust this company with their money again.. this project is way to public way to hyped receiving way to much attention for them to try and pull any kind of scam.. they put lots of money into advertising and sales office etc already

They've put their names on the line in the past, got caught being shady (breaking the law), were fined significant amounts and were required by court order to never trade in securities for 15 years. Hasn't stopped them from trying the realty market though, and the damage to their reputations seems nonexistent.

As for the money invested... whose?

[Arts]

Originally Posted by urbandreamer

So why would you spend $10 million to develop a large scale building in a weak market when you could spend the money in a city where projects move more quickly?

Maybe because their reputation in cities where projects move more quickly has become prohibitive?

[Cyro]

Great conversation, feels like the last 3 years..lol any way..carry on..


and another..


Twitter /SkyCityWinnipeg

[Finessing]

Originally Posted by Arts

They've put their names on the line in the past, got caught being shady (breaking the law), were fined significant amounts and were required by court order to never trade in securities for 15 years. Hasn't stopped them from trying the realty market though, and the damage to their reputations seems nonexistent.

As for the money invested... whose?

It always amazes me that people would invest with people who have already been caught red-handed as crooks. If Bernie Madoff got out of jail, would you invest in his newest investment venture? It seems like some people here would.

[Cyro]

Cool..I wonder how many forum members in total were in attendance..

[Cyro]

@bmyers

Your time table for pre-sales 40-50% required is aprx: 18-24 months with a potential project completion date of 2019 as per recent media releases? Do you see any difficulties in reaching this goal in the timetable you released with other condominium projects rising as we speak in the downtown core? Could it be 36 months with the current market conditions?

Also, reception to the grocery store in the project are "lukewarm"? An important piece for those interested in possibly purchasing units in the project?

Your input is appreciated.

[esquire]

^ Personally I think the developer was foolish to even mention the possibility of the grocery store. It just sets people up for disappointment when one doesn't materialize, or it just turns out to be some small convenience store that specializes in selling cigarettes, lottery tickets and $4.99 cans of Chunky Soup.

If the building actually materializes, I think it's a safe bet that even if there is a grocery store at the base, people will still do most of their grocery shopping somewhere else.

[bmyers]

Originally Posted by Cyro

@bmyers

Your time table for pre-sales 40-50% required is aprx: 18-24 months with a potential project completion date of 2019 as per recent media releases? Do you see any difficulties in reaching this goal in the timetable you released with other condominium projects rising as we speak in the downtown core? Could it be 36 months with the current market conditions?

Also, reception to the grocery store in the project are "lukewarm"? An important piece for those interested in possibly purchasing units in the project?

Your input is appreciated.

We hope to be 50% sold in that time frame, yes, however, there are very few projects of this scale in Winnipeg to compare to.

We are concentrating on the residential unit sales at this type, we will continue to pursue office and retail tenants during the sales and construction period.

Originally Posted by Cyro

Cool..I wonder how many forum members in total were in attendance..[/IMG]

This was one of three VIP events we did earlier this week, they were all very well attended, all of the folks I spoke to were very excited about the project, impressed with the sales office, and wished us luck.

There are a couple other things i would like to point out.

Syndicated mortgages are regulated in Ontario by FSCO: https://www.fsco.gov.on.ca/en/Pages/default.aspx


Fortress partners with a number of developers and not all of them do we participate through the construction phase. Many of our partnerships are only during the entitlement phase or the servicing phase.

Here are some details on past developments for anyone that is interested.

1. Helen (Harmony South Unionville) - site servicing and lot sales: http://www.marketwired.com/press-rel...ly-1769128.htm - Harmony South


2. Lloyd (The JunXion Condos) - approvals: http://www.marketwired.com/press-rel...nt-1914178.htm - JunXtion Condo

3. Trafalgar Square - approvals: http://finance.yahoo.com/news/invest...185741079.html

4. Estates of Black Creek - servicing: http://www.newswire.ca/news-releases...517390311.html - Black Creek

5. Countryside Crossing - servicing: http://www.newswire.ca/news-releases...517717611.html - Countryside Crossing

6. Mayfield 1 (Upper Mount Pleasant) - servicing: http://www.newswire.ca/news-releases...518026651.html

7. SoBa - approvals, servicing & construction: http://www.newswire.ca/news-releases...519981121.html - SoBa

Deloitte produces a specialized audited procedures report on our exits.

Upcoming exits.

1) Mod'rn - approvals, servicing & construction: completed construction

2) Gotham - approvals, servicing & construction: construction pic

3) King Charlotte - approvals, servicing & construction: construction pic

4) Brant Park - approvals, servicing & construction: construction pic


We have several other projects under construction.
1) The Mark
2) Harmony Village Sheppard
3) The South Shore
4) Eden
5) 6th & Tenth
6) Kingridge Square
7) King Square
8) Prescott
9) Solterra
10) Braestone

We now have 23 lenders on our developments for senior debt and mezz.

My Market Manuscript Report blog post I linked earlier has now been viewed over 1,600 times from people in 18 countries.

Other articles you might be interested in:
Buzz Buzz Home Are we building too many homes in Canada?
Huffington Post Are homes too Expensive or are your expectations too high?
Toronto Star http://blog.newinhomes.com/news/inte...or-early-2017/
New Condo Guide http://nexthome.yp.ca/news/embracing...do-life/90972/
Toronto Sun http://www.torontosun.com/2015/08/28...on-dollar-home


Lastly, what's the over/under on sales this weekend at SkyCity?

[Biff]

I say 75+

[Cyro]

Originally Posted by bmyers

Lastly, what's the over/under on sales this weekend at SkyCity?

Thanks for your input...

...........63+

[Finessing]

Ben Myers,

Could you comment on the status of:
1) Capital Pointe
2) Port Place
3) Brock Village
4) Crates Landing


Have investors missed any payments?

[bmyers]

Originally Posted by Finessing

Ben Myers,

Could you comment on the status of:
1) Capital Pointe
2) Port Place
3) Brock Village
4) Crates Landing

Updates on our projects can be found here: http://fortressrealdevelopments.com/...r-summer-2015/

Investors have exited Brock/Munir development: http://finance.yahoo.com/news/fortre...162251397.html

[Simplicity]

With apologies in advance to the next individual(s) from Ontario that Ben Myers thinks has/have followed him here who he will use his puppet account, TwoScents, in an attempt to doxx, I'm just going to leave this here:



That's your 'regulation' and that ad was dated January 10, 2015. Now here's a joint statement from the FSCO and the MFDA dated January 21st, 2015 that addresses this. The original statement by the FSCO was put out in July of 2014, found here, but I guess some people weren't getting the message.


FDS Brokerage, was at least, by most accounts, the primary brokerage for Fortress.

In any case, the 'regulation' of a syndicated mortgage is about as generous a term as you can use. Syndicated mortgages are specifically exempt from the securities act (quite conveniently, given the history of the principals) meaning that the product is considered a mortgage like the one you might have on your own home, and so the regulation happens at the broker level - not the product level. Which is sort of an interesting dichotomy given that these products are sold as securities (without being one, of course...) by people who aren't trained in and can't give overarching financial advice. It's a problem. A residential mortgage and a tiny share of a large syndicated investment have next to nothing in common.

With people trained in 7 days ready to make huge commissions, what could possibly go wrong?

[biguc]

Originally Posted by Cyro

Great conversation, feels like the last 3 years..lol any way..carry on..


and another..


Twitter /SkyCityWinnipeg

Can't help but notice the podium has shrunk to one floor and looks suburban as fuck. Build this shit in Mississauga where it belongs.

[lilwayne]

I hear units are selling fast

this thing might reach its target before year is up


our skyline willith be changing big time

[lilwayne]

Originally Posted by biguc

Can't help but notice the podium has shrunk to one floor and looks suburban as fuck. Build this shit in Mississauga where it belongs.

come on man the main podiem aint one floor

that's the roof of the podiem your seeing with the trees and such