SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled

[HomeInMyShoes]

^We are mostly in that boat BomberJet. I want to see Capital Pointe built and this as well. But even if they get a crane up here, I would not be surprised at getting our own unfinished Pyongyang Hotel for many years.

[OakbluffMB]

Just posting this so Finessing will go....

Fortress condo in at 55 Mulcaster Street in Barrie, Ontario ~ I like the flooring

[Wolf13]

Originally Posted by bomberjet

^The Donald Trump special. He's made billions off swindling everyone.

Anyways, I'm pretty sure most people posting here are well aware of all the shit Jawad and Co have done. But we like tall buildings. We want to see this proceed based on it plugging a hole in downtown. Adding people, etc. If Jawad and Co don't get this going, what am I (and most others here) losing? Nothing.

All of your posts are about Fortress. So you must have a vested interest in seeing them fail. Much like NorthStarsproject. Maybe you're the same person, or working for the same people. I don't know.

I'd be hard-pressed to believe that any major developer benefits from another's failure at this point... especially if they hope to develop more down the road; that critical mass is needed downtown.

The only angle I see is if SkyCity fails, suddenly TNS switches their apartments back to condos.

Most are just cynical towards Fortress' history and methodology... which is very understandable.

[BuildUpWpg]

Meanwhile, developers in Mississauga (and in Toronto) continue putting up iconic skyscrapers with relative ease and at a furious pace. It's depressing!

https://www.thestar.com/business/201...aign=editorial

[NorthStarsProject]

Originally Posted by BuildUpWpg

Meanwhile, developers in Mississauga (and in Toronto) continue putting up iconic skyscrapers with relative ease and at a furious pace. It's depressing!

https://www.thestar.com/business/201...aign=editorial

its easier to screw people in ontario because thats where people go first to do it.

Toronto economy is not very good. Saskatchewan and Manitoba are way ahead of Toronto and how many high rises does not indicate this nor should it.

[Tacheguy]

Originally Posted by NorthStarsProject

its easier to screw people in ontario because thats where people go first to do it.

Toronto economy is not very good. Saskatchewan and Manitoba are way ahead of Toronto and how many high rises does not indicate this nor should it.

I agree. the Toronto economy is a bit of a Ponzi scheme recently..

[Finessing]

It has little to do with the economy. High-rises are going bonkers in Toronto because of population growth. Huge numbers of immigrants move here and Canadians migrate to cities.

[Wolf13]

Originally Posted by NorthStarsProject

its easier to screw people in ontario because thats where people go first to do it.

Toronto economy is not very good. Saskatchewan and Manitoba are way ahead of Toronto and how many high rises does not indicate this nor should it.

What?

That's the first place you went? Is Fortress involved in that project?

It's simple.

In Winnipeg, that tower costs 250M to build

In Toronto, it's 200-220M.

Except the condo is twice as expensive to buy. With constant immigration and detached home prices staying high, and the desire for people to live downtown or in a busier neighbourhood increasing, it means condos are desireable. So the condo costs twice as much to buy, and it WILL sell because everyone wants it...

and it costs less to build.

You get it now?

[jmt18325]

BTW, Toronto's economy is actually quite good.

[GeneralLeeTPHLS]

Originally Posted by jmt18325

BTW, Toronto's economy is actually quite good.

Yea, especially considering how office space is becoming quite desirable in the core of the city:
https://www.forbes.com/forbes/welcom...=#35e38d2e4ee4

[Wolf13]

Northstar has fallen off into the deepend. Not sure where his starting point was, but he's there now. Maybe always was.

[Finessing]

Yet another lawsuit against the Fortress clowns...

http://www.mortgagebrokernews.ca/new...ed-221859.aspx

A total of five claims have been filed against Fortress Real Capital, bringing the total to $137.5 million.

Sales for the project commenced in 2014 but construction – which was slated to start in 2015 – was delayed until spring 2017.

According to the claim, construction financing has still not been secured.

Notice the trend?

[Urban recluse]

The 80-storey tower proposed for Edmonton will be built before this farce of a development even starts.

[WolselyMan]

So the obvious question is: with such a sleazy public record to begin with, how could the city have even allowed them to build their mega-projects here in the first place?

(yes this is a partially rhetorical question, but the point needs to be addressed).

[Finessing]

Originally Posted by WolselyMan

So the obvious question is: with such a sleazy public record to begin with, how could the city have even allowed them to build their mega-projects here in the first place?

(yes this is a partially rhetorical question, but the point needs to be addressed).

Here's what the Mayor said on that very topic:

The mayor said he could not speak to the class-action lawsuits against Fortress in Ontario or the way its syndicated mortgages are marketed.

"The relationship between developers and any private-sector business and their investors is one between them," he said. "That's not something the City of Winnipeg would weigh in on."

http://www.cbc.ca/news/canada/manito...city-1.3811866

[bomberjet]

The City is not going to turn down a huge development because the developer is sketchy. Like the Mayor said, that's not their business. This is typical of the world. I'll reluctantly refer again to Trump. Biggest scammer anywhere. Groomed by Russians for decades to launder dirty money into the USA. And he's the President ffs.

[WolselyMan]

It is the city's business if Fortress is relying on public subsidies to get the project going. But I guess I overreacted. Neither the city nor the province has technically approved any grants yet, and the fact that they're withholding the approval obviously shows that they can see right through fortress just as well anyone else can.

But still, what are the chances that an incompetently governed city's very first private mega-project coincidentally happens to be spear headed by people who are just as inept as they are? I guess what I'm asking is; Is there anything about Winnipeg that predisposes it to being victims of happenstances such as this? Or was this just bad luck that could of happened in any city? With this and the debacle that Sandhu has got themselves into regarding the d condos, is this something that we can grow to expect for future large developments in Winnipeg?

[Chrisforpm]

Originally Posted by WolselyMan

It is the city's business if Fortress is relying on public subsidies to get the project going. But I guess I overreacted. Neither the city nor the province has technically approved any grants yet, and the fact that they're withholding the approval obviously shows that they can see right through fortress just as well anyone else can.

But still, what are the chances that an incompetently governed city's very first private mega-project coincidentally happens to be spear headed by people who are just as inept as they are? I guess what I'm asking is; Is there anything about Winnipeg that predisposes it to being victims of happenstances such as this? Or was this just bad luck that could of happened in any city? With this and the debacle that Sandhu has got themselves into regarding the d condos, is this something that we can grow to expect for future large developments in Winnipeg?

I guess you could argue that for every one of those kind of projects there is also some feasible ones out there such as True North, Artis and Glasshouse. I guess we can only hope that more of the good ones rise to the challenge.

[trueviking]

I will stress this again. Fortress will not receive any TIF financing until after the building is complete. They are eligible to receive the same incentives as every single other downtown residential development in the last ten years.

[trueviking]

Not sure how SkyCity is the first private megaproject. What about the Artis tower, true North Square, centre Point?...even heritage Landing.