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  #6861  
Old Posted May 16, 2018, 1:58 PM
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Originally Posted by dmacc View Post
it sold for $16.2? It will take at least that if not more to straighten that place out. I've heard it's a huge mess.
To build new at that size would be $35-40 million. So basically they have about $15-20 million to be comparable to a new build on a much shorter turnaround.


300 Assiniboine was about $60 million
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  #6862  
Old Posted May 16, 2018, 2:03 PM
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Damn. I was kind of hoping we'd get an implosion! But yes, good news.
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  #6863  
Old Posted May 16, 2018, 2:13 PM
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That's great news. Anyone know if that front area is just lobby space, or is it a possibility to put shops in there? Also always been curious about that giant black slab of metal siding on the south side – doesn't look original so why is it there?

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Originally Posted by esquire View Post
Freep article quoted an Edison guy saying that the province left it in good shape following the water damage that they experienced.

The bones of the building are solid, all it probably needed was a restart to fix the flood damage, eradicate the bedbug problem and whatever else. IIRC that tower started out as a seniors building but gradually became an all purpose Manitoba Housing complex where people with all kinds of issues the building simply wasn't designed to handle moved in, leading to a bunch of problems.

If Edison turns it into a well run, well managed building it could be a net positive for the area instead of the problem it was turning into in its later years before it closed down. Although if I can editorialize, I don't get why Manitoba Housing couldn't have been the landlord to run it properly given the need for social housing.
I think they want to get away from housing people with possible (social) issues in large buildings, as it can compound some of these issues. It's recognized now that it's better to have people spread out in smaller buildings, both for safety reasons of others, but also allows them to be more independent, confident, and hopefully turn some of their issues around.
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  #6864  
Old Posted May 16, 2018, 2:14 PM
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This is great, I was worried they were going to implode it lol
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  #6865  
Old Posted May 16, 2018, 2:28 PM
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Originally Posted by buzzg View Post
Also always been curious about that giant black slab of metal siding on the south side – doesn't look original so why is it there?
I believe it is a solar heat energy device...not sure of correct term.
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  #6866  
Old Posted May 16, 2018, 2:30 PM
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I believe it is a solar heat energy device...not sure of correct term.
Interesting... so like not actual solar panels but it does extract some heat for power?
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  #6867  
Old Posted May 16, 2018, 3:00 PM
CoryB CoryB is offline
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It seems the current philosophy for Manitoba Housing is shifting from owning properties and renting them out at below market rates and taking the hit on the operating cost to paying a rent top-up and putting the same residents into privately owned and operated properties scattered more around the community. End of the day the spend is about the same but without the sunk capital costs upfront.
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  #6868  
Old Posted May 16, 2018, 3:05 PM
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Originally Posted by WildCake View Post
I'm sure the owners will be well retired by the time anything ever happens though.
I am sure the current owners great grandchildren will be retired before the city does anything with the land at Waverly and Bishop. Further I would wager the lanes are expanded long before there is ever an interchange built there.
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  #6869  
Old Posted May 16, 2018, 4:19 PM
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We probably won't see another change to it for another 5 years, realistically speaking.

Wouldn't it be hilarious if they demo'd it for parking lots?
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  #6870  
Old Posted May 16, 2018, 5:41 PM
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Originally Posted by Biff View Post
I believe it is a solar heat energy device...not sure of correct term.
It’s called Solar Wall. It’s actually quite genius.
Basically a giant flat duct on the side of the building facing south. The metal has little holes in it. Air gets pulled into the 6" cavity behind it because of the lower pressure caused by the warmer air created by the sun heating the dark metal...once behind the metal siding, it then moves up the building naturally as it warms and is fed to the rooftop unit or mechanical system. It’s totally passive. No moving parts. Just black perforated siding with an air space behind it. No maintenance. Cheap installation. It basically preheats the ventilation air so the mechanical system doesn’t have to work as hard bringing it to room temperature.

Last edited by trueviking; May 16, 2018 at 5:53 PM.
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  #6871  
Old Posted May 16, 2018, 5:51 PM
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Originally Posted by WpG_GuY View Post
Manitoba Housing has sold 185 Smith Street to Edison Properties, the property has been vacant for 3 years so downtown will get another redeveloped residential building.

YES
Quote:
Originally Posted by Biff View Post
To build new at that size would be $35-40 million. So basically they have about $15-20 million to be comparable to a new build on a much shorter turnaround.


300 Assiniboine was about $60 million
300 Assiniboine was built very frugally... depending on what Edison would have wanted from the site it could have easily been $60M, considering it's almost as tall and quite a long structure.
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This is great, I was worried they were going to implode it lol
Place is a dump. What's wrong if Edison were to implode it and build something better?
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  #6872  
Old Posted May 16, 2018, 6:02 PM
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If they wanted to do that they probably would have bought a parking lot at 1/4 the price and avoided millions in demo cost.

Without a TIF in place anymore, the economics of building a new residential building in downtown Winnipeg do not work. The only new residential we will see is redevelopment of existing buildings....that's why they bought it. If you are starting with a $20m cost (acquisition and demo) for the property, before you even build anything, you will lose your shirt.

Last edited by trueviking; May 16, 2018 at 6:59 PM.
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  #6873  
Old Posted May 16, 2018, 6:04 PM
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Roger Strong Roger Strong is offline
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Originally Posted by Wolf13 View Post
Place is a dump. What's wrong if Edison were to implode it and build something better?
It would be a big waste.

The city is full of former dumps - apartment blocks, office buildings and warehouses - that have been turned into good apartments and condos.
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  #6874  
Old Posted May 16, 2018, 6:26 PM
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Originally Posted by Wolf13 View Post
YES

300 Assiniboine was built very frugally... depending on what Edison would have wanted from the site it could have easily been $60M, considering it's almost as tall and quite a long structure.

Place is a dump. What's wrong if Edison were to implode it and build something better?
I agree, it isn't the nicest building, however, demolishing a high-rise and building a new one is a huge waste of resources and is bad from an environmental standpoint. If the building was unsafe or in need of demolition it would make sense, but why tear down a perfectly good building that can be reused when there is a sea of parking lots waiting to be developed. I do hope that they improve the overall look of the building lol
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  #6875  
Old Posted May 16, 2018, 6:42 PM
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Thanks Vike on the explanation for the black heat-y thing on the side of the building. I knew someone smrter than I would know the correct terminology.
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  #6876  
Old Posted May 16, 2018, 6:43 PM
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Quote:
Originally Posted by trueviking View Post
It’s called Solar Wall. It’s actually quite genius.
Basically a giant flat duct on the side of the building facing south. The metal has little holes in it. Air gets pulled into the 6" cavity behind it because of the lower pressure caused by the warmer air created by the sun heating the dark metal...once behind the metal siding, it then moves up the building naturally as it warms and is fed to the rooftop unit or mechanical system. It’s totally passive. No moving parts. Just black perforated siding with an air space behind it. No maintenance. Cheap installation. It basically preheats the ventilation air so the mechanical system doesn’t have to work as hard bringing it to room temperature.
Hmm, super cool – do you know if it was built that way or added later? Don't think I've seen it anywhere else.
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  #6877  
Old Posted May 16, 2018, 6:55 PM
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Hmm, super cool – do you know if it was built that way or added later? Don't think I've seen it anywhere else.
added later....its a new thing within the last ten years.
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  #6878  
Old Posted May 16, 2018, 6:57 PM
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Originally Posted by trueviking View Post
If they wanted to do that they probably would have bought a parking lot at 1/4 the price and avoided millions in demo cost.
Completely agree. I was just wondering what desire anyone other than the property owner could have to keep this instead of something new, since they'd never pay 16M to have a parking lot either.
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Originally Posted by Roger Strong View Post
It would be a big waste.

The city is full of former dumps - apartment blocks, office buildings and warehouses - that have been turned into good apartments and condos.
True.

Some would argue this is a more ambitious undertaking. I'm all for converting this to desirable or at least rentable apartments.

Quote:
Originally Posted by peg View Post
I agree, it isn't the nicest building, however, demolishing a high-rise and building a new one is a huge waste of resources and is bad from an environmental standpoint. If the building was unsafe or in need of demolition it would make sense, but why tear down a perfectly good building that can be reused when there is a sea of parking lots waiting to be developed. I do hope that they improve the overall look of the building lol
If, and only if, replacing this highrise with another was the scenario, I'd take the new one any day. This thing is likely a huge environmental nuisance as is anyway, as new construction is far more efficient.

But I'm happy this will be re-freshed. I was just asking the fun questions
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  #6879  
Old Posted May 16, 2018, 7:02 PM
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While we are almost on the subject, does anyone remember what the building beside 185 Smith, right at the corner of Smith and St. Mary used to be? Google street view goes back to 2007 and it was abandoned then and the latest Henderson directory online that I can access (1965) shows that it had not been built at that point.
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  #6880  
Old Posted May 16, 2018, 7:08 PM
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Originally Posted by TimeFadesAway View Post
While we are almost on the subject, does anyone remember what the building beside 185 Smith, right at the corner of Smith and St. Mary used to be? Google street view goes back to 2007 and it was abandoned then and the latest Henderson directory online that I can access (1965) shows that it had not been built at that point.
It's an old legion hall. It probably closed sometime in the early/mid 2000s.

I don't recall for sure but I seem to recall that a Chipman company owns the site as I believe it was pitched as a possible Manitoba Hydro HQ site many years back.
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