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  #121  
Old Posted Nov 10, 2020, 12:47 AM
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I toured the site a few weeks ago and the image I saw had balconies all the way across. Like an old school residential building. They will be some kind of fancy white precast concrete. The old brick is getting some kind of stain process.

It’s pretty amazing how much they are changing the building. Apparently it would have been cheaper to build completely new.

A big parkade will be going up beside it.
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  #122  
Old Posted Nov 10, 2020, 2:39 AM
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Originally Posted by trueviking View Post
I toured the site a few weeks ago and the image I saw had balconies all the way across. Like an old school residential building. They will be some kind of fancy white precast concrete. The old brick is getting some kind of stain process.

It’s pretty amazing how much they are changing the building. Apparently it would have been cheaper to build completely new.

A big parkade will be going up beside it.
Do you know if the parkade will have commercial in on the main floor, and what the plan is for the space in front of the apartments – new commercial podium?
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  #123  
Old Posted Nov 10, 2020, 2:50 AM
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The ground floor of the existing building will have commercial units.

Not sure about the parkade.
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  #124  
Old Posted Nov 10, 2020, 4:36 AM
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Originally Posted by trueviking View Post
I toured the site a few weeks ago and the image I saw had balconies all the way across. Like an old school residential building. They will be some kind of fancy white precast concrete. The old brick is getting some kind of stain process.

It’s pretty amazing how much they are changing the building. Apparently it would have been cheaper to build completely new.

A big parkade will be going up beside it.
What was their motivation for this project if not money? Or were they not including the initial cost of the building? What I mean is, was the cost of the building plus demolition less than a similar vacant lot? Sorry for pressing you on a minor detail, these things keep me up at night.
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  #125  
Old Posted Nov 10, 2020, 6:13 AM
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It’s pretty amazing how much they are changing the building. Apparently it would have been cheaper to build completely new.
Hmmm... so why didn't they? Being nothing near any sort of expert on construction costs, would it be safe for me to guess that without some massive subsidies, this project would not have happened in the first place?
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  #126  
Old Posted Nov 10, 2020, 4:05 PM
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The ground floor of the existing building will have commercial units.

Not sure about the parkade.
That's good. Curious if it's just in the existing footprint (and massive plaza out front?) or if the main floor will be expanded to the street?

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What was their motivation for this project if not money? Or were they not including the initial cost of the building? What I mean is, was the cost of the building plus demolition less than a similar vacant lot? Sorry for pressing you on a minor detail, these things keep me up at night.
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Hmmm... so why didn't they? Being nothing near any sort of expert on construction costs, would it be safe for me to guess that without some massive subsidies, this project would not have happened in the first place?
I imagine the fact it was owned by the province and they wanted to sell it ASAP likely made the cost more feasible than trying to buy another piece of land from a private owner who is likely making millions on parking.
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  #127  
Old Posted Nov 10, 2020, 4:52 PM
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From what we discussed earlier on in this thread. Looks like the balcony plan has changed from the one render in the OP. Looks like they're only going on the middle part of the building. And looks like they're not going to have all the concrete structure either. Will bolt on steel to those attachment points and but the prefab slab on that. Much loike the balconies going up at 360 main st (and every other major development recently).
Looked at the photos again and they are in fact putting in the vertical concrete portions.

I just don't see any structural connections, doorways, or otherwise on the end portions of the building that would indicate there will be balconies.

Either way, looks like this one should turn out out looking pretty good.
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  #128  
Old Posted Nov 10, 2020, 4:55 PM
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Hmmm... so why didn't they? Being nothing near any sort of expert on construction costs, would it be safe for me to guess that without some massive subsidies, this project would not have happened in the first place?
It's usually cheaper to build anything new if you're going to do a major overhaul.
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  #129  
Old Posted Nov 10, 2020, 10:57 PM
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they did a MAJOR overhaul. taking out floors, creating big openings. I was shocked that they didn't take the easy route, make their money and move on. Like Medical Arts. They will be nice suites but they used the existing building to their advantage.

I think the owners just didn't want a big building like that to go to landfill...to their credit....just surprising they didn't take the easy route and do a more modest redevelopment.

I'm not complaining!
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  #130  
Old Posted Nov 11, 2020, 2:09 AM
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It's usually cheaper to build anything new if you're going to do a major overhaul.
I would suggest the project is driven by intergenerational tax planning. Other assets they own mortgage free incur a high taxation rate. By simply placing a mortgage and buying bank stock it helps... to purchase an asset that can be depreciated further defers taxes and any perceived “ overpayment” is really paid for by the savings in income tax. So... an obsolete building gets redone, lots of employment and spin off occurs and the owners are able to defer tax on other assets they own while enjoying mrtg pay downs and appreciation of a new asset.

It really is a win win. Don’t worry though taxes are always paid one day... just not today! That in itself can be huge for some.
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  #131  
Old Posted Nov 23, 2020, 3:42 PM
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The precast balcony structure is really climbing up the east side of the building now. I guess this answers the question of how it will be done and look. Sorry I wasn't able to grab any pictures.
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  #132  
Old Posted Nov 23, 2020, 8:16 PM
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The precast balcony structure is really climbing up the east side of the building now. I guess this answers the question of how it will be done and look. Sorry I wasn't able to grab any pictures.
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  #133  
Old Posted Nov 23, 2020, 8:41 PM
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^^^Thanks for the picture. It explains perfectly what I was trying to describe in less than a thousand words.
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  #134  
Old Posted Nov 23, 2020, 9:23 PM
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^ do those balconies still make you nervous Biff?
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  #135  
Old Posted Nov 24, 2020, 2:05 AM
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That's really cool. This building is going to look awesome when it's done – definitely one of the most unique in the city I think. I love that it's going to make the building look a lot bigger too. And it appears there won't be a new podium extended, so some fantastic front patio opportunities for commercial. Hopefully they try and get some interesting tenants in there to make the most of it, and not just pull a True North and fill the whole plaza with banks (yes, I know it's "safe").
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  #136  
Old Posted Nov 24, 2020, 2:52 PM
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^ do those balconies still make you nervous Biff?
Not as much...if mine were to break, likely that means the whole balcony structure would be ripping off the building killing hundreds. So no.
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  #137  
Old Posted Dec 23, 2020, 12:37 AM
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  #138  
Old Posted Dec 23, 2020, 5:56 AM
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Hopefully the balconies dont kill the look.
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  #139  
Old Posted Dec 23, 2020, 9:51 PM
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Hopefully the balconies dont kill the look.
I was thinking the same thing.

I really like the new black accents, that looks sharp.
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  #140  
Old Posted Jan 4, 2021, 4:25 PM
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Hey new tenants. Enjoy your stolen suites.
This building was stolen from elderly and disabled people.
Hope you feel good about that while living there.
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