Regina Construction III

[sastaunik44]

How confidant are you that this is closing? Are they moving or closing and leaving Regina?

Originally Posted by BrutallyDishonest

Future Shop is closing. YMCA is nearly a sure thing.

[Nathan]

Originally Posted by sastaunik44

How confidant are you that this is closing? Are they moving or closing and leaving Regina?

It's under the same umbrella as Best Buy, so I wouldn't be surprised to see it go. Especially since they are blocks away from each other here.

[Stormer]

It sounds like there may be something to the rumour that the Cornwall Centre will be expanding into the Havik Building. It makes sense as the Cornwall is pretty much 100% leased and there are several national retailers that do not yet have a presence in Regina. We will see if H&M is one of them.

Some other options the Cornwall has include doing something with their office building (above Lululemon) on 11th to convert the upper floors to retail, maybe demoing some of the parkade or expanding into the Sask Drive entrance or even into the SaskTel Building.

I do not see them adding a third floor.

[sastaunik44]

Agreed but Future shop sells appliances..not well mind you but they do.

Originally Posted by Nathan

It's under the same umbrella as Best Buy, so I wouldn't be surprised to see it go. Especially since they are blocks away from each other here.

[Drofmab]

Originally Posted by Goldenant

Carls Jr

As usual, Golks told me this.
Also as usual, I forgot

[BrutallyDishonest]

Originally Posted by Treesplease

The big plot of land south of Jysk will be residential. All the residents in the area have received copies of the proposed development - 4 or 5 building condo complex. I assume the local residents were advised/consulted in conjunction with the zoning change - if its been approved.

It's been zoned residential for a while.

Originally Posted by sastaunik44

How confidant are you that this is closing? Are they moving or closing and leaving Regina?

They haven't renewed their lease and there really isn't anywhere for them to go. So very.

Originally Posted by Stormer

It sounds like there may be something to the rumour that the Cornwall Centre will be expanding into the Havik Building. It makes sense as the Cornwall is pretty much 100% leased and there are several national retailers that do not yet have a presence in Regina. We will see if H&M is one of them.

Some other options the Cornwall has include doing something with their office building (above Lululemon) on 11th to convert the upper floors to retail, maybe demoing some of the parkade or expanding into the Sask Drive entrance or even into the SaskTel Building.

I do not see them adding a third floor.

Havik's building has not been sold yet. It's a future deal.

H&M would almost certainly require a lot of work as both floors of Havik only add up to less than 12,000 square feet. They would have to expand into the mall. This is of course all possible but it would depend on the cost of construction and the state of the leases in place.

Converting the third floor of the Cornwall Office Building to retail would make very little sense.

SaskTel is not going to give up space.

And the Cornwall would never demo any part of their parkades. As dumb as parkades are from a urban planning point of view, they're pure gold downtown for businesses.

[Stormer]

Originally Posted by BrutallyDishonest

Havik's building has not been sold yet. It's a future deal.


Converting the third floor of the Cornwall Office Building to retail would make very little sense

Bodhi Tree says it is sold, but maybe it's a conditional deal.

I was think thinking more of the second floor or complete demo of the office building.

[Drofmab]

Originally Posted by BrutallyDishonest

It's been zoned residential for a while.
They haven't renewed their lease and there really isn't anywhere for them to go. So very.

I am not surprised to see it close - poor access & not much differentiation from Best Buy (if you're looking for appliances, Home Depot is next door & has the sqft to carry more inventory. There's also plenty of options to buy online - including both Best Buy & Future Shop)

I assume when you say there isn't anywhere for them to go, you mean in the immediate vicinity. There are plenty of options elsewhere in the City - which make more sense than having corporate both banners in the east end. This said, Best Buy is closing stores, not opening them - so I'd be surprised to see them relocate Future Shop to the Northwest or Grasslands (for example).

Originally Posted by BrutallyDishonest

And the Cornwall would never demo any part of their parkades. As dumb as parkades are from a urban planning point of view, they're pure gold downtown for businesses.

Unless Cornwall is shortsighted, if they were planning to demo/convert parts of their parkade(s), they likely wouldn't have dropped their prices from $18/day to $14... basics of supply & demand.

This said, it's interesting to note that they've significantly dropped their parkade price (about a year after jacking it up). It's not as though additional parking inventory has come on-stream... if anything, I expected the City's increase in the meter parking rate to have driven (some) people to parkades. Parking on-street all-day ($1/hr) was previously cheaper than most downtown parkades. It isn't anymore ($2/hr=$16/day, plus the inconvenience of moving your car every 2hrs)

[BrutallyDishonest]

Originally Posted by Stormer

Bodhi Tree says it is sold, but maybe it's a conditional deal.

I was think thinking more of the second floor or complete demo of the office building.

I'm just saying the sale hasn't closed yet. It's in the works.

I doubt they'd demo the office building. Realistically, if the Cornwall is looking for space they only have to wait for Sears inevitable closure.

[BrutallyDishonest]

Originally Posted by Drofmab

I assume when you say there isn't anywhere for them to go, you mean in the immediate vicinity. There are plenty of options elsewhere in the City - which make more sense than having corporate both banners in the east end. This said, Best Buy is closing stores, not opening them - so I'd be surprised to see them relocate Future Shop to the Northwest or Grasslands (for example).

I mean there is anywhere currently existing that would fit the needs of a Future Shop. They can't just go into any space. They could have gone into Vic Square but otherwise they would require a new building to be constructed for them. And since it looks like their lease ends rather soon I'm pretty sure they're just closing. But I guess anything's possible.

Originally Posted by Drofmab

Unless Cornwall is shortsighted, if they were planning to demo/convert parts of their parkade(s), they likely wouldn't have dropped their prices from $18/day to $14... basics of supply & demand.

This said, it's interesting to note that they've significantly dropped their parkade price (about a year after jacking it up). It's not as though additional parking inventory has come on-stream... if anything, I expected the City's increase in the meter parking rate to have driven (some) people to parkades. Parking on-street all-day ($1/hr) was previously cheaper than most downtown parkades. It isn't anymore ($2/hr=$16/day, plus the inconvenience of moving your car every 2hrs)

The Cornwall, of course, operates differently than most parkades in Regina since they are attempting to cater to both employees and the public which come and go.

I can't really explain their changing prices, but my guess is that they simply increased it too soon.

[skphc08]

Was speaking to the owner of a business [between Smitty's and food court] and he says that he is being forced to leave by end of January. He's found another location not too far down the road but this adds a bit of credibility to a possible Loblaws scenario, though its obviously not the south part of the mall that has been often speculated.

[darclar]

Originally Posted by BrutallyDishonest

I'm just saying the sale hasn't closed yet. It's in the works.

I doubt they'd demo the office building. Realistically, if the Cornwall is looking for space they only have to wait for Sears inevitable closure.

I have not verified for sure that the building has been sold. But what I can say for sure is Havik is moving out of the downtown core. They have bought the old Midas Muffler building on south albert and are renovating it. They will be moving there when the Reno's are done.

[darclar]

I have heard from an investment group that they have been approved for 4 Fuddruckers franchises, 1 in Regina and 3 in Calgary. They are looking at the old south Canadian tire location and vetting if they can split that building into a multi tenant building and part of it would be the new Fuddruckers in Regina. This actually has come from one of the investors, so it seems that Fuddruckers may be here in the future.

[Stormer]

Originally Posted by darclar

I have heard from an investment group that they have been approved for 4 Fuddruckers franchises, 1 in Regina and 3 in Calgary. They are looking at the old south Canadian tire location and vetting if they can split that building into a multi tenant building and part of it would be the new Fuddruckers in Regina. This actually has come from one of the investors, so it seems that Fuddruckers may be here in the future.

Weird after all these years that it makes a comeback, Saskatoon has been the only franchise in Canada for decades since the whole thing went bust in the 80's.

[Stormer]

Originally Posted by darclar

I have not verified for sure that the building has been sold. But what I can say for sure is Havik is moving out of the downtown core. They have bought the old Midas Muffler building on south albert and are renovating it. They will be moving there when the Reno's are done.

That would be a shame to lose another independent retailer from downtown.

[HomeInMyShoes]

That is too bad if Havik is moving out of the core.

[Drofmab]

Originally Posted by BrutallyDishonest

I mean there is anywhere currently existing that would fit the needs of a Future Shop. They can't just go into any space. They could have gone into Vic Square but otherwise they would require a new building to be constructed for them. And since it looks like their lease ends rather soon I'm pretty sure they're just closing. But I guess anything's possible.

Yeah, sorry, that's what I meant to say - immediate vicinity & immediate occupancy. If these aren't necessary, then there are plenty of options (most requiring new construction). Best Buy is closing stores - so I doubt they'd build a new one for Future Shop in Regina.

[jigglysquishy]

Having both a Future Shop and Best Buy right next to each other is kind of redundant. I'm sure they've been stealing business from each other since Best Buy opened.

[Stormer]

From CTV this morning

[HomeInMyShoes]

It really does look like a health center.