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

[design25]

All this talk of doubts is getting tiresome. SkyCity is right on schedule from when they first opened the sales centre. It's all right there in the contract. Start digging in spring 2017. They've already done the preliminary core drilling to see what the soil is comprised of... on schedule. And before someone jumps down my throat, my deposit money is being held in trust by a very respectable law firm in the city.

[1ajs]

Originally Posted by HomeInMyShoes

Just a matter of time. We're going on sixteen months to dig a five-story hole here.

weird

[The Jabroni]

You know, I was reserved in saying anything about this project. With all the kerfuffle that's going on with this project, I'm not going to get involved, and rightfully so, mainly because they're out of my league.

Having said that, I'm being cautiously optimistic here and saying that this will get built in some form or another. Whether construction actually starts this spring, we'll have to wait and see.

[factis]

http://www.newswire.ca/news-releases...612884823.html

[Finessing]

Originally Posted by design25

All this talk of doubts is getting tiresome. SkyCity is right on schedule from when they first opened the sales centre. It's all right there in the contract. Start digging in spring 2017. They've already done the preliminary core drilling to see what the soil is comprised of... on schedule. And before someone jumps down my throat, my deposit money is being held in trust by a very respectable law firm in the city.

They don't even have permits or drawings. What exactly are they building? Fortress themselves said this project won't go ahead unless they get a concession from the city on the grant.

As a buyer, I would be worried about this:

"Permit drawings will be submitted in full in the new year. The team along with the builder, EllisDon, is currently undergoing a detailed value engineering exercise that is focused on finding efficiencies in materials and construction timeline,"

The cheapening is starting early on this one.

[optimusREIM]

Originally Posted by Finessing

They don't even have permits or drawings. What exactly are they building? Fortress themselves said this project won't go ahead unless they get a concession from the city on the grant.

Are you simplicity?

[NorthStarsProject]

Thought to deliver some insight on Sky City to those interested especially with owners who have cash in a trust account.

Expect your money to be tied up for years. Sky City will never get built to their expectations. They have constantly lied about progress and their financial backing to anyone that asks. This project can not be trusted. They have no money and they just lost a large amount of investment with a major finance company from the United States which the public has not heard about yet. Staff for Fortress are clueless and those working trying to sell suites are either lying or incompetent. This project is nearly dead.

The gov't portion was critical to get other lawsuits off their back. Or I should explain prior to their lawsuit due to pending legal ramifications in Ontario and now Winnipeg the company needs $$cash$$. Or I should say needed. Its too late for them as they are already in hot water. A project this size only gets built with premiere graded investors not someone like Fortress.

Reason for optimism. Where is it coming from? Somebody working for Fortress is acting like a kid at Disney World. Their big news statement coming from last month was due to almost securing a large investment to pay off a lender. That deal was critical to opening up large amount of equity into this project while securing sufficient funding to get SkyCity rolling. Problem was the city didn't take the bite and said no to payment up front from their own deal. It got worse. Last week the U.S finance company backed out. I was told now they are trying to make a co-investment company responsible for development and charge them for the plans. I assume this new partner on board is the new negotiation face to ploy possible investors. If this works within a few months I guarantee you Fortress will then walk away from the project by spring.

The biggest problem with getting the gov't funding is that this has ruined future land valuations and the city is frustrated as they have been warned about what negative effect this will do for future development. This is why they are not handing over the ca$h until the project is built.

Another issue is the city back in late '16 got word that Sky City might be downsized. Example - 20 floor condo with 2 story retail,etc, etc, etc. No amenities,etc, etc

Forget about a grocery store. This will not happen. It was never going to happen unless they were going to give away free space. Loblaw and Empire are struggling to survive on its own right now and no way would they get involved opening up a new store. SaveonFoods or FoodFare forget about them as well.

I know from recent discussion that Empire did a feasibility study about opening up a store downtown and it did not return favorable results.

My advice to those looking to move downtown or open up retail downtown is to look favorably at the True North Square project. They can be trusted. Hence reputation and progress in Feb'17 on site.
Or look at the new condos on Portage Avenue (GlassHouse) which is adjacent to ALT Hotel. They are getting favorable reviews at this point and its a fantastic location.

[Tacheguy]

so, you're saying there's a chance?

[NorthStarsProject]

I can also confirm that SkyCity lost 3 tenant partners including 1 over the past month.

-retailer I will not mention backed out this past month and will be moving to True North SQ.

-Large local-popular restaurant backed out and will be opening at the ALT Hotel next to Glasshouse in March/April 2017.

-Last year SkyCity lost a tenant that will be opening elsewhere downtown fall '17.

[NorthStarsProject]

Originally Posted by Tacheguy

so, you're saying there's a chance?

I will put it this way.

If Fortress is still involved come April/May this project is 100% dead and you know there is a major news worthy discussion pending in summer to announce of either a new venture by another developer on the same spot or a downsized SkyCity to be built 2020.

If Fortress is gone in the next 2-3 months which is a strong possibility then I say its 50/50 the formal project gets built to everyones expectations.

There is ZERO CHANCE that SkyCity gets started in spring with Fortress. ZERO CHANCE.

[NorthStarsProject]

These clowns tried to pull a Springfield Monorail and good for our city to halt these actions before it was too late.

[NorthStarsProject]

Edenshaw is new co-developer. What does this prove? What accomplishment does this give Fortress? They need $$ lol not new talking heads at a board-table to discuss drawings.

I do not know for sure. But it would not surprise me that these 2 were working together for months and purposely tried to make a public announcement this late to prove they are working behind the scenes to get investors involved.

Clearly people bite on these actions as who in the world would deal with some clowns in Fortress? Oh and the partners are Winnipeg born. I wonder if they know anyone at city hall?

unbelievable

[Finessing]

There is always a line of suckers willing to lap up whatever garbage spews from the mouths of scam artists like Jawad Rathore and Vince Petrozza. All evidence be damned, the optimists here believe that somehow, someway, a ragtag group of scammers with no development experience are going to develop the tallest building in Winnipeg history.

[Finessing]

Originally Posted by optimusREIM

Are you simplicity?

No. Who is that?

[Brizzy82]

Originally Posted by Finessing

No. Who is that?

[Riverman]

Originally Posted by Finessing

No. Who is that?

He was a very knowledgeable fellow who got booed off here because he knew what he was talking about.

[lilwayne]

Originally Posted by NorthStarsProject

Thought to deliver some insight on Sky City to those interested especially with owners who have cash in a trust account.

Expect your money to be tied up for years. Sky City will never get built to their expectations. They have constantly lied about progress and their financial backing to anyone that asks. This project can not be trusted. They have no money and they just lost a large amount of investment with a major finance company from the United States which the public has not heard about yet. Staff for Fortress are clueless and those working trying to sell suites are either lying or incompetent. This project is nearly dead.

The gov't portion was critical to get other lawsuits off their back. Or I should explain prior to their lawsuit due to pending legal ramifications in Ontario and now Winnipeg the company needs $$cash$$. Or I should say needed. Its too late for them as they are already in hot water. A project this size only gets built with premiere graded investors not someone like Fortress.

Reason for optimism. Where is it coming from? Somebody working for Fortress is acting like a kid at Disney World. Their big news statement coming from last month was due to almost securing a large investment to pay off a lender. That deal was critical to opening up large amount of equity into this project while securing sufficient funding to get SkyCity rolling. Problem was the city didn't take the bite and said no to payment up front from their own deal. It got worse. Last week the U.S finance company backed out. I was told now they are trying to make a co-investment company responsible for development and charge them for the plans. I assume this new partner on board is the new negotiation face to ploy possible investors. If this works within a few months I guarantee you Fortress will then walk away from the project by spring.

The biggest problem with getting the gov't funding is that this has ruined future land valuations and the city is frustrated as they have been warned about what negative effect this will do for future development. This is why they are not handing over the ca$h until the project is built.

Another issue is the city back in late '16 got word that Sky City might be downsized. Example - 20 floor condo with 2 story retail,etc, etc, etc. No amenities,etc, etc

Forget about a grocery store. This will not happen. It was never going to happen unless they were going to give away free space. Loblaw and Empire are struggling to survive on its own right now and no way would they get involved opening up a new store. SaveonFoods or FoodFare forget about them as well.

I know from recent discussion that Empire did a feasibility study about opening up a store downtown and it did not return favorable results.

My advice to those looking to move downtown or open up retail downtown is to look favorably at the True North Square project. They can be trusted. Hence reputation and progress in Feb'17 on site.
Or look at the new condos on Portage Avenue (GlassHouse) which is adjacent to ALT Hotel. They are getting favorable reviews at this point and its a fantastic location.

This guy is a complete moron downsized they sold almost all thier top Floors.. Ya let's cut it to twenty floors and lose the project altogether.. Ppl said trump would never be president give them a chance tif spring comes and nothing happens then talk shit.. All this naysayers is bs ppl said d condos would never get built.. You guys talk up your asses

[LilZebra]

Originally Posted by NorthStarsProject

My advice to those looking to move downtown or open up retail downtown is to look favorably at the True North Square project. They can be trusted. Hence reputation and progress in Feb'17 on site.
Or look at the new condos on Portage Avenue (GlassHouse) which is adjacent to ALT Hotel. They are getting favorable reviews at this point and its a fantastic location.

Do you represent TNS?

They're a competitor project in some ways, as you outline in your post.

[Authentic_City]

Originally Posted by NorthStarsProject

...

Just an observation. While you may have some valid points - although hard to know when you claim to have inside knowledge that can't be verified - much of it gets lost in the fact that you appear out of nowhere and post 5 negative comments in a row and don't seem interested in having a discussion with anyone other than yourself. Why the bee in the bonnet?

[Finessing]

Originally Posted by lilwayne

This guy is a complete moron downsized they sold almost all thier top Floors.. Ya let's cut it to twenty floors and lose the project altogether.. Ppl said trump would never be president give them a chance tif spring comes and nothing happens then talk shit.. All this naysayers is bs ppl said d condos would never get built.. You guys talk up your asses

Well argued. You must be one of the geniuses that fell for this hook, line, and sinker.