SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled - Page 48

Jammon · #**941** Posted **Oct 21, 2015, 3:40 PM**

I swear they got the basic building renderings from Sim City Build it. There is a building in the game that looks exactly like SkyCity.

bmyers · #**942** Posted **Oct 23, 2015, 2:18 PM**

Quote:

Originally Posted by trueviking

Yup. 130ish

Under that, but well over 100 now.

https://ca.finance.yahoo.com/news/sk...120000633.html

borkborkbork · #**943** Posted **Oct 23, 2015, 2:43 PM**

Quote:

Originally Posted by bmyers

https://ca.finance.yahoo.com/news/sk...120000633.html

"I'll be close to everything downtown and can get anywhere I want on foot through the SkyWalk."

I will bet any amount of money that this quote was written by their Toronto marketing staff and then attributed to a buyer.

bomberjet · #**944** Posted **Oct 23, 2015, 3:20 PM**

^ It's true.

Cyro · #**945** Posted **Oct 23, 2015, 4:13 PM**

Quote:

Originally Posted by bmyers

Under that, but well over 100 now.

https://ca.finance.yahoo.com/news/sk...120000633.html

Sounds positive.

Any word on the St Regis site? 7 floors, top 2 office space, the rest parkade as per a previous discussion that was brought up here several months ago?

optimusREIM · #**946** Posted **Oct 23, 2015, 6:05 PM**

Radio ads now boasting that they've sold over 125 units.

esquire · #**947** Posted **Oct 23, 2015, 6:21 PM**

^ That's amazing... I wouldn't have thought that there would be such an uptake for downtown condos when the market is softening as much as it is. I mean, no one is going to buy one of these and flip it for profit.

So what's the number it will take to actually get shovels in the ground? 200?

bmyers · #**948** Posted **Oct 23, 2015, 7:25 PM**

Quote:

Originally Posted by borkborkbork

"I'll be close to everything downtown and can get anywhere I want on foot through the SkyWalk."

I will bet any amount of money that this quote was written by their Toronto marketing staff and then attributed to a buyer.

Dorian wrote the quote.

Esquire: We have a general idea of how many units we will need to sell to obtain construction financing, but it will ultimately come down to residential unit sales, leasing/sales of the condo office space, retail leasing, the covenant strength of our build/dev partner to be announced, who leads the financing club deal and market conditions at the time.

Having previously run Urbanation, a high-rise market research firm, the overall market conditions don't always determine buyer interest in a project. Their financial situation and the value proposition of the project are much higher on their priorities list given the long duration between purchase and closing. I've seen projects fail in the best market conditions (2011), and booming sales in terrible market conditions (Q2-2009).

I purchased the 529 sf unit, I don't necessary anticipate a huge value increase from now until completion (but I wouldn't be shocked if units sold at completion for over $500 psf), but i honestly believe i'll get around $1,350 per month in rent once the tenant sees the space, the views, all of the amenities, and the high-quality interior finishes. Even if I'm off on my rents by 15%, I'll still be cash flow positive.

We've been pleasantly surprised by investor interest so far.

OakbluffMB · #**949** Posted **Oct 23, 2015, 8:16 PM**

Quote:

Originally Posted by bmyers

We've been pleasantly surprised by investor interest so far.

This is very good news. The wife and I haven't pulled the trigger yet, but this certainly gives us more confidence.

The sales centre was pretty impressive I must say.

DowntownBooster · #**950** Posted **Oct 29, 2015, 4:23 PM**

Quote:

Originally Posted by esquire

^ That's amazing... I wouldn't have thought that there would be such an uptake for downtown condos when the market is softening as much as it is. I mean, no one is going to buy one of these and flip it for profit.

I think it's the location that makes it so desirable and might be what people were waiting for. It's right in the middle of everything with close proximity to the Forks, MTS Centre, Concert Hall, etc.

esquire · #**951** Posted **Oct 29, 2015, 4:28 PM**

Quote:

Originally Posted by DowntownBooster

I think it's the location that makes it so desirable and might be what people were waiting for. It's right in the middle of everything with close proximity to the Forks, MTS Centre, Concert Hall, etc.

True, although conventional wisdom would have it that the immediate surroundings really don't offer anything resembling a neighbourhood.

Considering that a good number of new condos have sold in downtown Winnipeg over the years, it's interesting that there haven't been any new builds (only a couple of reno projects, and even then not many in recent years) in the West Exchange. You'd think that if someone would want to spend $300K on a condo in a new building downtown, that this would be the most desirable place to do it.

Urban recluse · #**952** Posted **Oct 30, 2015, 3:56 PM**

Graham Ave could become a more conservative version of Nicolet Mall in Minneapolis. Imagine True North being built, a redeveloped Bay building anchoring the end, with a renovated Hudson's Bay, and perhaps at least one more brand the company owns? The potential for Graham is quite amazing if you look at Nicolet Mall, then imagine a similar development along Graham.

esquire · #**953** Posted **Oct 30, 2015, 3:59 PM**

Quote:

Originally Posted by Urban recluse

Graham Ave could become a more conservative version of Nicolet Mall in Minneapolis. Imagine True North being built, a redeveloped Bay building anchoring the end, with a renovated Hudson's Bay, and perhaps at least one more brand the company owns? The potential for Graham is quite amazing if you look at Nicolet Mall, then imagine a similar development along Graham.

This could happen. But the city needs to coordinate an effort to encourage a critical mass of activity along Graham. I was never keen on Hydro's setback for that reason... the plaza is empty 95% of the time, although it does serve a purpose with the farmer's market and a place for people to lunch. However, one such plaza is enough... MLLC should build right up the curb to ensure there is continuity along that strip.

If Skycity gets built, it will help in this regard... once you get east Donald there isn't much to entice passers-by.

Urban recluse · #**954** Posted **Oct 30, 2015, 4:04 PM**

Quote:

Originally Posted by esquire

This could happen. But the city needs to coordinate an effort to encourage a critical mass of activity along Graham. I was never keen on Hydro's setback for that reason... the plaza is empty 95% of the time, although it does serve a purpose with the farmer's market and a place for people to lunch. However, one such plaza is enough... MLLC should build right up the curb to ensure there is continuity along that strip.

If Skycity gets built, it will help in this regard... once you get east Donald there isn't much to entice passers-by.

MLLC's design is not fait accompli: the minister responsible for it says better urban design will be adhered to. I hope he is being honest.

I would like to think CV has a vision for Graham, but who knows?

esquire · #**955** Posted **Oct 30, 2015, 4:09 PM**

Quote:

Originally Posted by Urban recluse

MLLC's design is not fait accompli: the minister responsible for it says better urban design will be adhered to. I hope he is being honest.

It depends on what he means. Just removing the surface parking lot and keeping everything else the same is lipstick on a pig. I mean, if you're going to waste all that space out front you might as well just let people park there. But what really needs to happen is to build right up the curb. The city needs to get on developers to do this... stop allowing big setbacks downtown, as if it was some suburban industrial park.

Quote:

I would like to think CV has a vision for Graham, but who knows?

I don't recall them articulating any such vision. The ghastly MLLC plan would seem to drive that point home. Regardless of whether or not it gets built, Skycity's plan is the model for how new buildings should interact with Graham Avenue.

Urban recluse · #**956** Posted **Oct 30, 2015, 4:20 PM**

I totally concur. I think the idea of those setbacks is to encourage public congregating, and the odd one is acceptable (because I do like seeing crowds in summer), but 99% of developments need to reach the sidewalk.

buzzg · #**957** Posted **Oct 30, 2015, 4:59 PM**

Agreed^^ – Hydro and TNS will be MORE than enough plaza for Graham Ave.

And the only thing CV has a vision for is whatever True North wants. And I'm not a TN hater at all, I just don't think CV has a real vision... I mean they already gave up on all the funnelators and "cool streetscaping pieces" they had planned.

Cyro · #**958** Posted **Oct 30, 2015, 5:10 PM**

Quote:

Originally Posted by buzzg

And the only thing CV has a vision for is whatever True North wants. And I'm not a TN hater at all,

Well, I beleive your comments are sincere but CV, TNSE are obviously linked due to the SHED and TIF plan discussed here? Why wouldn't a developer take advantage of the area given the implementation of this area buy the City and Province?

>>> http://forum.skyscraperpage.com/show...&postcount=233

esquire · #**959** Posted **Oct 30, 2015, 5:23 PM**

For what it's worth, I'd be looking more to the city to promote and (if need be) enforce design standards than Centreventure. And not necessarily in a heavy-handed way... perhaps it could lead to a win win. As I recall, the Humphry Inn was originally supposed to be set back with parking in the front until the city suggested moving the building square to the street... that seemed to work out.

Urban recluse · #**960** Posted **Oct 30, 2015, 5:56 PM**

Unfortunately, given the timing the hotel was built (desperate) the city failed to demand a better design than the suburban model of Hampton Inns.