Quote:
Originally Posted by CoryB
Also thanks to Simplicity for the detailed explanation on why this project can't move forward without significant vacancies. That said, it still hasn't ruled out the possibility of some sort of hotel moving in or an outside partner stepping to convert say 10 floors to smaller apartment units. Granted both those are long shots but this whole project seems to be built around those.
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Considering the relative dearth of new hotel rooms in downtown Winnipeg especially of the full-service variety (as opposed to small boutique establishments), having Skycity be 1/3 or 1/2 hotel doesn't strike me as any more of a long shot than having the entire thing marketed as condos.
Let's say a third of Skycity became a Hyatt or Sheraton... it would become the nicest and best hotel in the city, and it would basically be the default choice for visiting businesspeople. Might be a surer bet than having Fortress' investors hoping and praying that the last 15 floors of condos finally sell after potentially years on the market - assuming that it is ever built, of course.