Edmonton- major project rundown 26/10/2008

[240glt]

^ Well it would come out of the revenue generated by the leases in the building, but there are no special assesments to tenants or anything like that.

I've done a lot of work in that complex. It's suffered some neglect over the years but Oxford is spending a lot of money to get it up to current standards.

[Arriviste]

What is the Federal building now used for? Is it empty right now?
Lastly, who owns it?
I want to see more of it.

[ibz]

Typical large capital project (like boilers, chillers) are usually amortized over their lifespan and recovered as part of the operating costs of the building - if you spend 1 or 5 or 10+ million on a recoverable project, tenant op costs will increase accordingly. The landlord still has to come up with the money initially however and even before this whole credit crisis, companies obviously make sure that capital money spent isnt needed more elsewhere, sure companies like Oxford have deep pockets but there is only so much to go around. Then of course in many cases you need to throw co-owners into the mix.

Oxford for one has certainly spent a lot of money in short order to upgrade their buildings, but that doesnt mean they will spend their money when it isnt needed.

[240glt]

@ Arriviste...

Right now it is empty... it's been vacant since 1991, and has fallen into disrepair. One of its saving graces is that the roof was re-done shortly before it was vacated, so that minimized the decay.

It was turned over to the province in the early 2000's, and there's been ongoing talk of fixing it up. The building itself is located on the Lesilature gorunds (in case you weren't aware) The lobby is truly magnificent. The asbestos is being cleaned out and the interior is being refurbished, and the parking lot directly to the west is being converted to greenspace with a parkade underneath. We haven't seen the plans for the reno yet, but they'respending something like 450 mil on it.

I used to have more pix of it but had to clean out my photobucket acct for construction photos. The front side is even nicer

[240glt]

Typical large capital project (like boilers, chillers) are usually amortized over their lifespan and recovered as part of the operating costs of the building - if you spend 1 or 5 or 10+ million on a recoverable project, tenant op costs will increase accordingly.

I agree. Building envelopes are no different, And in fact a new exterior will have more of an impact on lease rates than new chillers.

As one of my customers once told me: Glass & brass have more value than fire alarm panels and variable frequency drives.

[CMD UW]

Originally Posted by 240glt

As one of my customers once told me: Glass & brass have more value than fire alarm panels and variable frequency drives.

Ha, did he used to work for Triple 5...'brass'.

But you are right, tenants tend to prefer paying for visual aesthetics versus operational.

@arriviste - the award for redeveloping the Federal Building was recently awarded to Kasian in partnership with Goldsmith Borgal and Company Architects and Moriyama + Teshima Architects and Planners.

Kasian selected to redesign Edmonton landmark

Edmonton, Canada – Kasian, a global design firm, has been selected to lead the design of the Federal Building and Centennial Plaza project in Edmonton. The existing landmark building, originally constructed in 1958, has been unoccupied since 1989. It will undergo a contemporary transformation that will give it new purpose and reconnect it with the city. The design will focus on preservation and sustainability while drawing inspiration from the art deco style of the original architecture.

The commission was awarded by Alberta Infrastructure after a public competitive process. The project, situated on the Edmonton Legislature grounds, includes the rejuvenation of the Federal Building, a new 650-stall underground parkade, and a new public plaza that will extend the grounds to 99th Avenue. The project is scheduled for completion at the end of 2011.

“Our team is committed to preserving the heritage, spirit, and dignity of the Edmonton Federal Building,” said Bill Chomik, Kasian principal. “We look forward to collaborating with the Alberta Government and the Edmonton community to deliver this legacy project.”

Kasian has assembled a world-class team including heritage architects and conservation specialists, Goldsmith Borgal and Company Architects; and urban design and planning specialists, Moriyama + Teshima Architects and Planners.

http://www.kasian.com/#News/Press%20...ton%20landmark

[Kevin_foster]

^ Awesome, Kasian is the right co. for the job

[240glt]

^ absolutely. This is going to be one phenominal project.

Is it confirmed that the redeveloped federal building is going to be offices ?

[Coldrsx]

^YES..... i believe there is some intent to have the Annex people more into it so then they can also remove that tower, but not 100% on that.

[ExcaliburKid]

That would be sweet

[240glt]

I want to see that proposal to extend the Leg grounds, over top of River valley road to come to fruition.

That would be HOT-AWESOME

[Coldrsx]

^that it would... let's just say the RFP has attracted some big names...

[240glt]

^ I thought that was just a pipe dream at this point. You mean there's actually an RFP for that ?

This calls for a dancing banana

[Coldrsx]

well... expressions of interest/request for submissions/RFP... but yes it is moving ahead

[CMD UW]

Originally Posted by Coldrsx

well... expressions of interest/request for submissions/RFP... but yes it is moving ahead

Very much so. I believe presentations are underway

[Coldrsx]

^mmhmm

[Arriviste]

Originally Posted by 240glt

@ Arriviste...

Right now it is empty... it's been vacant since 1991, and has fallen into disrepair. One of its saving graces is that the roof was re-done shortly before it was vacated, so that minimized the decay.

It was turned over to the province in the early 2000's, and there's been ongoing talk of fixing it up. The building itself is located on the Lesilature gorunds (in case you weren't aware) The lobby is truly magnificent. The asbestos is being cleaned out and the interior is being refurbished, and the parking lot directly to the west is being converted to greenspace with a parkade underneath. We haven't seen the plans for the reno yet, but they'respending something like 450 mil on it.

I used to have more pix of it but had to clean out my photobucket acct for construction photos. The front side is even nicer

Thanks. I want to go inside...
Who's up for adventure?

[Kevin_foster]

More info on the Fed can be found here: http://www.rewedmonton.ca/content_view2?CONTENT_ID=606


Some great pics here: http://www.flickr.com/photos/dulcie/...7594398013900/

[Arriviste]

Originally Posted by Kevin_foster

More info on the Fed can be found here: http://www.rewedmonton.ca/content_view2?CONTENT_ID=606


Some great pics here: http://www.flickr.com/photos/dulcie/...7594398013900/

Killer. Thanks!
I think I might try to make a trip up in the next couple of weeks to do a bit of photography. Maybe even bring out a large format and see what can be done.
Anybody want to hold some lights? haha

Who do you think would be the person to talk to if one was interested in checking it out a little closer? I've had some luck here in Calgary with some privately owned buildings, and have also had some close calls with police which I'd rather avoid.

[Coldrsx]

i can hold lights and drink beer...