Regina | Capital Pointe | 29F | 11F | 91M | ?M | Cancelled - Page 58

SkydivePilot · #**1141** Posted **Sep 6, 2012, 4:21 AM**

Quote:

Originally Posted by Shinook

Is anyone really shocked by this outcome? This was as pie-in-the-sky of an idea for a city the size of Regina as they come. It's too bad they had tried to decieve the public in thinking this thing actually had a snowball's chance in hell of happening. If I were an investor in this project, I would be outraged.

Whether this project goes (or not) is irrelevant about the size of Regina: it's just bad-ass management. The other two projects (Broad St./Rose St.) are going full-steam ahead!

Maybe the Hills should build something on Vic/Albert instead. With regards to the Hill family, at least they have credence!

DickintheWick · #**1142** Posted **Sep 6, 2012, 3:58 PM**

Quote:

Originally Posted by Shinook

Is anyone really shocked by this outcome? This was as pie-in-the-sky of an idea for a city the size of Regina as they come. It's too bad they had tried to decieve the public in thinking this thing actually had a snowball's chance in hell of happening. If I were an investor in this project, I would be outraged.

Mr. Baker58....Any comments ?

boborider · #**1143** Posted **Sep 6, 2012, 4:27 PM**

I feel for those unfortunate souls who put money into this pipe dream, assuming that these guys had some cred. Now these jerks have their money and refuse to refund even though they have done nothing to keep their committments in place. Maybe it's time for them to call Mr. Merchant, "king of the class action".

DickintheWick · #**1144** Posted **Sep 6, 2012, 7:56 PM**

Quote:

Originally Posted by boborider

I feel for those unfortunate souls who put money into this pipe dream, assuming that these guys had some cred. Now these jerks have their money and refuse to refund even though they have done nothing to keep their committments in place. Maybe it's time for them to call Mr. Merchant, "king of the class action".

Just unfortunate that Mr. Merchant is suspended for a few more weeks

wacko · #**1145** Posted **Sep 7, 2012, 6:28 PM**

Brightstar to revise development plan (Regina Leader-Post article)

Apparently Brightstar is now trying to reduce costs by reducing the size of the hotel portion a bit. I am surprised at the cost of concrete: does it really cost two to three times as much here as in Toronto?

As before, I'll wait to see if this building makes it above ground before showing any optimism.

babo · #**1146** Posted **Sep 7, 2012, 7:31 PM**

Quote:

Originally Posted by wacko

Brightstar to revise development plan (Regina Leader-Post article)

Apparently Brightstar is now trying to reduce costs by reducing the size of the hotel portion a bit. I am surprised at the cost of concrete: does it really cost two to three times as much here as in Toronto?

As before, I'll wait to see if this building makes it above ground before showing any optimism.

To lower concrete costs, maybe they'll use concrete with styrofoam aggregate held together with a matrix of hopes and dreams.

DickintheWick · #**1147** Posted **Sep 7, 2012, 7:55 PM**

Quote:

Originally Posted by wacko

Brightstar to revise development plan (Regina Leader-Post article)

Apparently Brightstar is now trying to reduce costs by reducing the size of the hotel portion a bit. I am surprised at the cost of concrete: does it really cost two to three times as much here as in Toronto?

As before, I'll wait to see if this building makes it above ground before showing any optimism.

http://www.torontoredi-mix.com/concr...1PRICELIST.pdf

Costs in Toronto 2011

http://cinder.sasktelwebhosting.com/...price_list.pdf

Costs in Regina 2011

(Good one Babo.....)

jw6969 · #**1148** Posted **Sep 7, 2012, 8:23 PM**

I would guess their going to reduce it to a smaller tower like Gardens on rose or center pointe. Maybe go with there original pan for a 18<-- stories? (Can't remember).

jw6969 · #**1149** Posted **Sep 7, 2012, 8:27 PM**

Quote:

Originally Posted by wacko

Brightstar to revise development plan (Regina Leader-Post article)

Apparently Brightstar is now trying to reduce costs by reducing the size of the hotel portion a bit. I am surprised at the cost of concrete: does it really cost two to three times as much here as in Toronto?

As before, I'll wait to see if this building makes it above ground before showing any optimism.

Do you think the demolition of the cement plant north of the land fill a bunch of years back is the reason for this.

wacko · #**1150** Posted **Sep 7, 2012, 8:56 PM**

According to the price lists DickintheWick posted, concrete does cost a bit more in Regina, but nothing like two to three times as much as in Toronto. Although I can certainly believe that construction costs in general have risen significantly in Regina in the past couple of years, especially with two other condo projects now underway.

DickintheWick · #**1151** Posted **Sep 7, 2012, 10:11 PM**

Quote:

Originally Posted by wacko

According to the price lists DickintheWick posted, concrete does cost a bit more in Regina, but nothing like two to three times as much as in Toronto. Although I can certainly believe that construction costs in general have risen significantly in Regina in the past couple of years, especially with two other condo projects now underway.

When you factor in the transporation costs within Toronto and add sales taxes which are included in the Regina numbers, it looks really close to me. For a developer to say that they are going back to the drawing table to sharpen their pencils is like telling a purchaser " Hey, you know what ? Your unit is going to cost us alot more than we thought so we will reduce the features, square footage and material quality, then keep your price the same, OK ? "

Let's see how that works out.......

Scruff Bucket · #**1152** Posted **Sep 7, 2012, 11:29 PM**

Maybe concrete costs partly follows scales of economy? Toronto is 25-30 times the size of Regina (which means they may or may not have that many more concrete making plants, too!), and they seem to be building their towers like there's no tomorrow! (at least before the property bubble bursts!)

Dillweed · #**1153** Posted **Sep 8, 2012, 12:19 AM**

I'm not here to defend the developer of this project or slag on Regina or Saskatchewan. Just trying to call it the way I see it. But reading some of the comments here I wonder if the flack the developer is taking over this project is warranted.

In this day and age most condo developments are pre-sold and typically when about 50% of the units are sold they start digging. Like any business I'm sure this developer is in business to make a profit and not to keen on the idea of constructing a building with most of the units sitting vacant for who knows how long before they can make a profit.

It would seem very clear to me that not enough units have been sold to-date to warrant the developer to start digging. If there was I am quite sure they would be by now since after all they're in business to make a buck.

I can also understand their claim for the need to cut costs. According to these statistics from Statscan it seems Regina & Saskatoon are doing their best price themselves out of the market when it comes to construction costs.

http://www.statcan.gc.ca/tables-tabl...on144b-eng.htm

You should note that Regina & Saskatoon are both at the top of the heap when it comes to construction costs for the country. They are even more expensive than Alberta and far more expensive than major cities like Vancouver, Toronto, even Montreal.

So maybe if people in Regina want this thing built they should get off their butts and start buying condo's in this thing. And start doing something about these spiraling construction costs in Saskatchewan. Instead of crowing about the developer all the time.

wacko · #**1154** Posted **Sep 8, 2012, 5:14 AM**

Quote:

Originally Posted by Dillweed

And start doing something about these spiraling construction costs in Saskatchewan.

I'm not sure what could be done about spiralling construction costs, except to stop construction on everything else (i.e. to lower the demand).

Dillweed · #**1155** Posted **Sep 8, 2012, 7:09 PM**

Quote:

Originally Posted by wacko

I'm not sure what could be done about spiralling construction costs, except to stop construction on everything else (i.e. to lower the demand).

Wacko, I'm not sure what can be done either I guess I'm just being the messenger. But the cost of labour which is any businesses largest expense in Saskatoon & Regina certainly goes a long ways in explaining delays in this project.

And I can certainly see this as being a problem for River Landing in Saskatoon as well. These are both fairly big projects even for some of the larger urban centres in Canada.

So all I'm saying is that maybe for a lot of people hurling rocks at the developer for not getting this project off the ground by now. Should be a little more understanding that the developer is the one that writes the cheques and is the one taking all the risk.

When you see your labour costs spiraling up 26% in the last five years. Compared to major cities like Vancouver or Toronto which are only half that amount over the same period. It certainly affects your bottom line and tends make you pull your horns in and/or possibly looking at other centres where costs are cheaper.

So I ain't slagging on Regina & Saskatoon just reporting the facts as I seem them. I don't know what the reasons are for the higher costs in Saskatoon & Regina. Whether it's a shortage of workers or a higher reliance on unionized labour or maybe both.

Still I know that both these cities are enjoying record levels of construction. Makes me wonder if things could even be better. But the high costs of construction in Saskatchewan is certainly something I think could be prohibitive to new developments like this down the line.

Arts · #**1156** Posted **Sep 11, 2012, 10:34 PM**

Dillweed, I definitely see this as probably the major factor in commercial construction industry in the province - my brother is a journeyman carpenter, was recruited from BC to work here - had many good offers with local commercial construction companies, but like most people with a brain opted for the offers from the industrial contractors instead (because with all the perks he makes easily double what he would on commercial). Potash biz pays the big bucks for the time being.

cutterp · #**1157** Posted **Sep 24, 2012, 7:09 PM**

As some of you may have noticed, there has been some action on the site this month. We are in the process of doing some exploratory work on the property in preparation for the dig.

*** Source: Their Facebook Page ***