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  #141  
Old Posted Oct 27, 2009, 8:02 PM
phrenic phrenic is offline
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Originally Posted by Bedford_DJ View Post
Didn't a pedestrian get run over on Lower Water by a dump truck a few months ago?
Barrington and Sackville after leaving the Tim Hortons on the corner, actually.

Still, Lower Water should be one-way.
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  #142  
Old Posted Oct 28, 2009, 12:04 AM
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Yah its really congested up to Prince (or whatever the Ferry road is).

Didn't a pedestrian get run over on Lower Water by a dump truck a few months ago?[/QUOTE]


*Congested up to George St. The dump truck was at Sackville and Barrington St.*
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  #143  
Old Posted Oct 28, 2009, 1:14 AM
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Originally Posted by Bedford_DJ View Post

Didn't a pedestrian get run over on Lower Water by a dump truck a few months ago?
I think you mean the young woman who got hit last winter outside of Tim Horton's at Barrington and Sackville street.
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  #144  
Old Posted Oct 28, 2009, 1:40 AM
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Well I guess since three forumers say it was on Barrington Street I'll have to agree.

But back on topic I imagine well after the NSP HQ and Hollis@Morris are underway this and Salter Street will have a chance to begin. IMO it will come down to whoever can sell more units first.
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  #145  
Old Posted Oct 28, 2009, 6:08 PM
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Originally Posted by Bedford_DJ View Post
Well I guess since three forumers say it was on Barrington Street I'll have to agree.

But back on topic I imagine well after the NSP HQ and Hollis@Morris are underway this and Salter Street will have a chance to begin. IMO it will come down to whoever can sell more units first.
Considering Hollis and Morris and Salter are both rentals it wouldn't come down to a unit sold issue really.

NSP headquaters would have nill effect on this development to be honest.

The bottom line is it simply took too long for the project to get approved, therefore missing the market opportunity. If i had to guess it will be sometime before this starts with the current situation of economic climate and the available units on the market. There seems to be a significant amount of units for sale just accross the street at bishops.

A smater move would be to apply for a amendment to convert the units to rental. But with that said the rental income may not support the development costs.
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  #146  
Old Posted Oct 28, 2009, 9:15 PM
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I don't know the behind-the-scenes details, but it seems perfectly plausible that the delay in approval caused problems. This was one of the first recent tower proposals (2002-3) and yet it didn't get approval until a bunch of other projects were already under construction or completed. At this point it probably just makes sense for the developer to wait, assuming the development agreement is not going to expire. United Gulf is likely in the same boat. It's a little sad, but I could imagine both being constructed had they been approved quickly. Other projects would have suffered of course but some of those are in the suburbs and it is better to have urban infill - the incentives for development in the HRM have traditionally been backwards.

Salter Street seems like it would be in better shape to move forward given the rental component, and Hollis/Morris is smaller. NSP, as mentioned, is an office project with no direct impact on residential projects (though actually it might cause some employees to look at buying a new condo a couple of blocks away).
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  #147  
Old Posted Oct 29, 2009, 2:59 AM
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I didn't know Salter was a rental building? Is the whole main building gonna be rental units?!
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  #148  
Old Posted Oct 29, 2009, 9:59 AM
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I didn't know Salter was a rental building? Is the whole main building gonna be rental units?!
the project is rental, hotel, and retail.
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  #149  
Old Posted Oct 29, 2009, 4:44 PM
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the project is rental, hotel, and retail.
That's good to know - I was half considering moving from Bishop's into it, but now I'll just relax where I am.
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  #150  
Old Posted Oct 29, 2009, 7:03 PM
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That's great. I'd love to be able to rent a nice place on the water like that!
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  #151  
Old Posted Oct 29, 2009, 10:12 PM
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That's great. I'd love to be able to rent a nice place on the water like that!
So would I. This intrigues me.
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  #152  
Old Posted Mar 24, 2010, 5:22 AM
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There was more information in Allnovascotia today about this project. The developers are still working on design but are waiting for the condo market to improve before marketing. They're not sure if they will start this year.

Neither one seems about to start but if both this and Salter were completed along with possibly something for the site on the other side of Bishop's Landing it would all make quite a nice waterfront neighbourhood.
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  #153  
Old Posted Mar 24, 2010, 10:24 AM
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Originally Posted by someone123 View Post
There was more information in Allnovascotia today about this project. The developers are still working on design but are waiting for the condo market to improve before marketing. They're not sure if they will start this year.

Neither one seems about to start but if both this and Salter were completed along with possibly something for the site on the other side of Bishop's Landing it would all make quite a nice waterfront neighbourhood.
I heard some rumours that salter wasn't going to start this year, which means unless waterfront development corp grants an extention that the project is dead in the water.

Hopefully just a rumour, but as i've stated in other threads, its hard to get money from lenders to do these projects.
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  #154  
Old Posted Mar 24, 2010, 1:11 PM
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I would really like to see this one get started, it would look great with salter as stated, to bad they seem to be both on the back burner.
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  #155  
Old Posted Mar 24, 2010, 3:40 PM
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Originally Posted by sdm View Post
Hopefully just a rumour, but as i've stated in other threads, its hard to get money from lenders to do these projects.
From my recent experience, lenders are looking to get back into the development lending market, but they're being quite cautious - They're looking for the rights deals and the right companies.
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  #156  
Old Posted Mar 24, 2010, 3:48 PM
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Originally Posted by midasmull View Post
From my recent experience, lenders are looking to get back into the development lending market, but they're being quite cautious - They're looking for the rights deals and the right companies.
You would think that lenders would be scratching to give it away now before the threat of higher interest rates becomes a reality.
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  #157  
Old Posted Mar 24, 2010, 6:39 PM
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It's too bad because the credit issue really isn't based on local economics. Condos have slowed a little in Halifax but not like in some other places.

In a way the city got the worst of both worlds because it didn't get much during the boom times and now credit isn't available.

Really disappointing if Salter is delayed for another year. I wonder if the developer really can't do it now or if they just prefer not to? How much pressure has the WDCL applied?
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  #158  
Old Posted Mar 27, 2010, 9:52 PM
worldlyhaligonian worldlyhaligonian is offline
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Originally Posted by someone123 View Post
It's too bad because the credit issue really isn't based on local economics. Condos have slowed a little in Halifax but not like in some other places.

In a way the city got the worst of both worlds because it didn't get much during the boom times and now credit isn't available.

Really disappointing if Salter is delayed for another year. I wonder if the developer really can't do it now or if they just prefer not to? How much pressure has the WDCL applied?
How do you think that the hotel (phase 1) is doing?

It really sucks how local economics aren't dictating the availability of credit. You would think that financing would be possible by now, I mean we haven't really been impacted by the recession and Canadian banks are well positioned.

I think this development will be an easy sell... the location is incredible.
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  #159  
Old Posted Mar 28, 2010, 7:38 PM
Halifax Hillbilly Halifax Hillbilly is offline
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Originally Posted by sdm View Post
I heard some rumours that salter wasn't going to start this year, which means unless waterfront development corp grants an extention that the project is dead in the water.

Hopefully just a rumour, but as i've stated in other threads, its hard to get money from lenders to do these projects.
Why wouldn't WDCL grant an extension? They aren't likely to get another development that's ready to go by next summer either way, best to stick with this and hope the economics work out.

Other than Bishop's what has really been accomplished on the Halifax waterfront in the past decade?
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  #160  
Old Posted Mar 28, 2010, 9:14 PM
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Originally Posted by Halifax Hillbilly View Post
Why wouldn't WDCL grant an extension? They aren't likely to get another development that's ready to go by next summer either way, best to stick with this and hope the economics work out.

Other than Bishop's what has really been accomplished on the Halifax waterfront in the past decade?
I agree. It doesn't make sense for the WDCL to kill the project at this point. Centennial doesn't seem to have any problems that other developers wouldn't have, plus there's the issue of coming up with another development. I guess there are the old alternative plans from Southwest but those probably aren't as detailed at this point.

The pace of development has been extremely slow on the waterfront in Halifax and in Bedford. There doesn't seem to be much incentive for the WDCL to actually get anything done in a timely manner. I think they're trying to develop the Cunard site now, just south of Bishop's Landing, but who knows how long that will take?

They've done an okay job of building up the boardwalk and so on but that's been a 30-year process. Not terribly impressive for a company charged with managing acres of very valuable property.
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