HomeDiagramsDatabaseMapsForum
     

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Manitoba & Saskatchewan

Reply

 
Thread Tools Display Modes
     
     
  #81  
Old Posted Jan 25, 2014, 8:15 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Winnipeg architect Steve Cohlmeyer has been hired for the Arts center proposal.

Has done restoration work at the Hotel Fort Garry and on the Birks Building.

Does any one have any thoughts on any of his other projects?


>>>> http://www.cohlarch.ca/
__________________
♥ ♥
Reply With Quote
     
     
  #82  
Old Posted Jan 28, 2014, 4:50 AM
eman eman is offline
Registered User
 
Join Date: Mar 2010
Location: Winnipeg
Posts: 65
falling short

Quote:
Originally Posted by Cyro View Post
Loved this proposal, had to bump the Osborne Village thread.. Thx HH.
I am disappointed the apartments are only 6 floors. My understanding is that taller buildings are permitted at the end of the block. Density is good thing and a small building on a high profile spot like this makes me sad, its even shorter than the 8 storey seniors home next door. If there was ever going to be place for a new 12 to 25 story tower in the village this was it. I heard rumours that a tower was in the works,, though COHLMEYER will make a beautiful design,, its simply too short.

Last edited by eman; Jan 28, 2014 at 5:01 AM. Reason: typo
Reply With Quote
     
     
  #83  
Old Posted Jan 28, 2014, 6:33 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Thumbs up Height is Just Right

Quote:
Originally Posted by eman View Post
I am disappointed the apartments are only 6 floors. My understanding is that taller buildings are permitted at the end of the block. Density is good thing and a small building on a high profile spot like this makes me sad, its even shorter than the 8 storey seniors home next door. If there was ever going to be place for a new 12 to 25 story tower in the village this was it. I heard rumours that a tower was in the works,, though COHLMEYER will make a beautiful design,, its simply too short.

I'm quite happy with this 8 storey proposal, (6 residential floors), at this location.
It suits this corner very well. Increased density is always desirable but with this Osborne Village location, I wouldn't like to see a +10 storey high rise at this intersection.
There is no problem in this neighborhood with density. Other areas I may agree with a taller proposal but that would be a discussion for that particular location.

I agree that Steve will do a wonderful job when and if this proposal comes to fruition.
__________________
♥ ♥
Reply With Quote
     
     
  #84  
Old Posted Jan 28, 2014, 6:43 PM
windypeg windypeg is offline
Registered User
 
Join Date: Jul 2013
Posts: 379
Quote:
Originally Posted by eman View Post
I am disappointed the apartments are only 6 floors. My understanding is that taller buildings are permitted at the end of the block. Density is good thing and a small building on a high profile spot like this makes me sad, its even shorter than the 8 storey seniors home next door. If there was ever going to be place for a new 12 to 25 story tower in the village this was it. I heard rumours that a tower was in the works,, though COHLMEYER will make a beautiful design,, its simply too short.
I was in the UPS store on River ave last week, they also do a lot of print jobs for businesses in the Village. Peeked behind the counter and noticed a large presentation board with a variety of rough conceptual renderings on it for the Gas Station theatre redevelopment, one of which was a 2-3 floor podium with a slender 15-floor (approx) tower on top. That got me pretty excited, but the design they're going with is scaled very nicely for its surroundings.
Reply With Quote
     
     
  #85  
Old Posted Jan 28, 2014, 7:18 PM
esquire's Avatar
esquire esquire is offline
Think about Winnipeg.
 
Join Date: Oct 2001
Posts: 20,585
I'll chime in to agree with those who say that the proposed GST complex is appropriately scaled for its setting. I wouldn't necessarily complain if it were 20 storeys, but 8 fits in nicely with the neighbourhing buildings and helps to further define the street wall along River, which is slowly evolving into a street with real urban character. If it gets built, it'll be a huge improvement over what's currently there.

(Incidentally, does anyone know of any photos of what the GST looked like in its actual incarnation as a gas station? I don't think I've ever seen one before.)
Reply With Quote
     
     
  #86  
Old Posted Jan 28, 2014, 8:30 PM
Biff's Avatar
Biff Biff is offline
What could go wrong?
 
Join Date: Jun 2004
Location: Winnipeg
Posts: 5,953
Quote:
Originally Posted by windypeg View Post
I was in the UPS store on River ave last week, they also do a lot of print jobs for businesses in the Village. Peeked behind the counter and noticed a large presentation board with a variety of rough conceptual renderings on it for the Gas Station theatre redevelopment, one of which was a 2-3 floor podium with a slender 15-floor (approx) tower on top. That got me pretty excited, but the design they're going with is scaled very nicely for its surroundings.

Nothing has been decided on yet regarding the final design. It could be anything as these are presentation renders to show the community what could be. Someone asked a question as to whom their partner might be earlier - it is a local Winnipeg Hotel and property owner.
__________________
"But a city can be smothered by too much reverence for its past. The skyline must keep acquiring new peaks, because the day we consider it complete and untouchable is the day the city begins to die." - Justin Davidson - May 2010 Issue of New York
Reply With Quote
     
     
  #87  
Old Posted Jan 28, 2014, 8:51 PM
DonaldSmith's Avatar
DonaldSmith DonaldSmith is offline
Registered User
 
Join Date: Oct 2012
Location: Wpg, Mb
Posts: 256
Quote:
Originally Posted by Biff View Post
Nothing has been decided on yet regarding the final design. It could be anything as these are presentation renders to show the community what could be. Someone asked a question as to whom their partner might be earlier - it is a local Winnipeg Hotel and property owner.
Lakeview's involvement is already public. The two non-profit groups associated with the housing component have not yet been released.
Reply With Quote
     
     
  #88  
Old Posted Feb 10, 2014, 1:39 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Revitalizing the Village
Stradbrook condos latest stage in renaissance

Ventura Developments Inc. is poised to launch the first of what could be as many as four new infill condominium developments in the Osborne Village-Cresentwood area of the city.

Continued: Source

I love this area, infill in one of the densest areas of Winnipeg, always good news.
__________________
♥ ♥
Reply With Quote
     
     
  #89  
Old Posted Feb 22, 2014, 9:40 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Quote:
Originally Posted by headhorse View Post
this is the most recent proposal for 522 River/99 Norquay. Lount is/was the developer.


from winnipeg.ca

No direct link provided from site, so no detailed information available on this project.
__________________
♥ ♥
Reply With Quote
     
     
  #90  
Old Posted Feb 22, 2014, 10:28 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
^ Project info added:

>> 522 River Avenue and 99 Norquay Street
__________________
♥ ♥
Reply With Quote
     
     
  #91  
Old Posted Feb 26, 2014, 6:11 PM
Flatland Metropolis's Avatar
Flatland Metropolis Flatland Metropolis is offline
Registered User
 
Join Date: Oct 2013
Location: Winnipeg
Posts: 216
I was wondering what they were building on that lot
Reply With Quote
     
     
  #92  
Old Posted Feb 28, 2014, 5:14 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Nice little Condo infill project nearing completion at 540 Jessie Ave






Features:

5 unit luxury condo
910 to 1,960 s.f.
Contemporary open concept architectural design
2 storey grand entrance foyer with CCTV entry / intercom system
Main floor level has finished basement, private entrances and front yard
2nd and 3rd floor units each have two private balconies
Covered and secured open air parkade complete with security cameras throughout
Additional parking available

http://waltercorp.com/540-jessie
__________________
♥ ♥
Reply With Quote
     
     
  #93  
Old Posted Mar 13, 2014, 3:29 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Concrete piles going in at Conrad House. Moving quite quickly.

>> 522 River Avenue and 99 Norquay Street
__________________
♥ ♥
Reply With Quote
     
     
  #94  
Old Posted Mar 13, 2014, 5:07 PM
Simplicity Simplicity is offline
Registered User
 
Join Date: Feb 2014
Posts: 1,773
Quote:
Originally Posted by Cyro View Post
Concrete piles going in at Conrad House. Moving quite quickly.

>> 522 River Avenue and 99 Norquay Street

Interesting that it went from condos to rentals. Indicator of the condo market softening in the area?

I've heard that the Osborne Junction condos are 50% pre-sold, but that's coming from the developer and his mouthpiece themselves. I'll assume there's a significant portion of arm's length, related-party transactions at play here...
Reply With Quote
     
     
  #95  
Old Posted Mar 14, 2014, 7:13 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Quote:
Originally Posted by Simplicity View Post
Interesting that it went from condos to rentals. Indicator of the condo market softening in the area?
.
Over saturation of the Osborne/Crescentwood area? I don't believe this area is having a problem with Condo Sales at this time, yet. Their is a great deal of activity in the area but it doesn't appear to have slowed down construction and sales of these units as of this time.

Other areas of the City, remains to be seen. I don't believe Winnipeg has reached an over saturation point as of yet. Time will tell of course when several large scale projects reach completion.
__________________
♥ ♥

Last edited by Cyro; Mar 14, 2014 at 7:41 PM.
Reply With Quote
     
     
  #96  
Old Posted Mar 14, 2014, 9:15 PM
Simplicity Simplicity is offline
Registered User
 
Join Date: Feb 2014
Posts: 1,773
Quote:
Originally Posted by Cyro View Post
Over saturation of the Osborne/Crescentwood area? I don't believe this area is having a problem with Condo Sales at this time, yet. Their is a great deal of activity in the area but it doesn't appear to have slowed down construction and sales of these units as of this time.

Other areas of the City, remains to be seen. I don't believe Winnipeg has reached an over saturation point as of yet. Time will tell of course when several large scale projects reach completion.
Sales of these units have been difficult for everybody since day one. When these developments are put together, oftentimes the interested parties will put together a syndication and purchase units. Typically made up of the contractors, architects, etc., they'll buy units at pre-sale to get the development to a point where the bank will then finance the project so they can start collecting the real construction money. These are done through a joint venture separate from the development because the bank is keen to who is trying to push the sales. You'll have noticed this on the Pulse (474 River Ave.). The building was constructed and there were fifteen different realtor signs on the lawn post occupancy and they couldn't move the units. This is called a push. The objective is to move the unit for a more expensive price than was paid at the pre-sale price and ideally, never to take title. This, of course, has the ass-backwards effect of driving down the value of the condos bought by people intending to live in them. They don't care because they got their hefty margins on the construction and will take a hit on the back end of the unit. The building being built isn't indicative of a successful project if the values come down just after occupancy.

The Oz condos were averaging somewhere in the neighbourhood of 300 days on market per sale and 548 Stradbrook (that glass building) was forced to discount list prices by 25% to move the units.

The units that Walter was building were financed by money from China and haven't sold that briskly with units still available in nearly all their projects. That didn't stop them from promising significant returns, but I'm reluctant to believe they'll be able to deliver on them. Remember, interest is extremely expensive and these projects aren't high margin to begin with. If you're sitting on built, unsold units, it doesn't take long for the interest to consume your return.

Sandhu had also planned a project for River Avenue across from the Pulse. My understanding is that the project has now been converted to rentals at a much lesser build quality.

The area is softening up quite a bit. Whether this is due to significant cold over the past few months, only time will tell. There are still units available for people - quite a few, actually - and perhaps spring brings the buyers. We'll see, I guess....
Reply With Quote
     
     
  #97  
Old Posted Mar 14, 2014, 11:00 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
Quote:
Originally Posted by Simplicity View Post

The area is softening up quite a bit. Whether this is due to significant cold over the past few months, only time will tell. There are still units available for people - quite a few, actually - and perhaps spring brings the buyers. We'll see, I guess....
Yes, I'm familiar with the many projects you are listing and the amount of sales/vs. occupancy of the units available.

We do agree, I believe as I mentioned in my post, that time will tell, if the summer/fall of 2014 will see an increase in sales in the "Winnipeg Market", for these types of developments or the so called downward spiral we see in many other Canadian Cities.

We'll see how the market reacts in 2014/2015. A larger sample is needed.Softening may be the case, but you seem to paint such a negative picture in your posts ? Are you an Investor? This would explain some of your trepidation and worries reg: almost every post you make here? You provide much detail and facts in your posts, but a extremely negative view of the Winnipeg Market.
__________________
♥ ♥
Reply With Quote
     
     
  #98  
Old Posted Mar 15, 2014, 2:21 AM
Simplicity Simplicity is offline
Registered User
 
Join Date: Feb 2014
Posts: 1,773
Quote:
Originally Posted by Cyro View Post
Yes, I'm familiar with the many projects you are listing and the amount of sales/vs. occupancy of the units available.

We do agree, I believe as I mentioned in my post, that time will tell, if the summer/fall of 2014 will see an increase in sales in the "Winnipeg Market", for these types of developments or the so called downward spiral we see in many other Canadian Cities.

We'll see how the market reacts in 2014/2015. A larger sample is needed.Softening may be the case, but you seem to paint such a negative picture in your posts ? Are you an Investor? This would explain some of your trepidation and worries reg: almost every post you make here? You provide much detail and facts in your posts, but a extremely negative view of the Winnipeg Market.
Ha! Does it come across that way? Honestly, I'm just not much of a cheerleader. I have my doubts about the Winnipeg marketplace like I would have my doubts about any marketplace that was heavily leveraged and running on such narrow margins.

Keep in mind that I'm not being overly-dire about the city itself, I'm only concerned about the financial metrics underlying the investments. Sometimes it helps to remember these are all somebody's investment so we can just pay attention to the economics of everything and leave aside the fact that these buildings do contribute significantly to the landscape and well-being of our neighbourhoods.

Most rental buildings are built at below a 6% return and most REIT purchased buildings are purchased at around a 4.75% return. Most money borrowed on these builds is somewhere around 3.25-3.5% depending on the quality and the caliber of the developer. This leaves narrow margins. If somebody isn't heavy equity on their property, we're looking at margins that could disappear overnight if rates ever increased even to still historically low levels like maybe 4.5-5%. Of course, those numbers may not matter if you can keep raising rents, but there's a limit to that too. Incomes in this province have stagnated, personal debt levels are climbing, and vacancy continues to rise. We're up a full .5% over last year in vacancy to 2.5% and that doesn't account for availability. Availability - which is what we *should* be looking at - is at 4% right now. Those are units that somebody would make available if only they could break their lease. That's up a full 1.5% over last year. Rents also climbed 4.7% last year and 3.4% the year before; that obviously can't continue without a significant additions to our economy. There are hundreds if not over a thousand units in the pipeline right now. Our vacancy rate actually climbed a half a point last year even with 198 *fewer* units in the apartment rental universe! Something's amiss here and it likely has to do with the fact that net migration hasn't favoured the province. We're almost always going to have a negative natural growth rate so if Saskatchewan and Alberta continue to be better options for immigrants, we may continue to see declines there as well.

I don't know. The condo market is difficult to predict because it's mostly noise and little signal. Almost 15% of condos are bought strictly for the purposes of being rented and the sales figures on new projects are extremely murky because of what I had noted in another post. They move well in the 'burbs but they're completely stagnant in the city centre, and that goes for both existing and new.

I just don't see any fundamental economic upswing that justifies these disproportionate increases in value of all multi-unit or single-family real estate. I see low rates and I see a general hesitancy to be involved in the securities markets as a carry-over from 2008, but I don't see positive migration, I don't see significant increases in incomes, and I see a middling service-based economy at the centre of it all. This isn't Vancouver where we see some of the lowest incomes in the country and the highest real estate values. Nobody can prove it's foreign investment there, but it's generally understood that because Vancouver is world-class city within relatively close proximity to Asia, it attracts a lot of that investment. Winnipeg isn't like that...

Last edited by Simplicity; Mar 19, 2014 at 3:25 PM.
Reply With Quote
     
     
  #99  
Old Posted Mar 19, 2014, 2:12 PM
Cyro's Avatar
Cyro Cyro is offline
Moderator
 
Join Date: Jan 2013
Posts: 5,198
I understand, business is business when it comes to the viability of any project or development no matter the city it is located in. You don't have to be a cheerleader. The bottom line is all that matters in the end when projecting the success or failure of any given project.

I don't invest in any venture if I can't be guaranteed coming out ahead in the end. Tough lesson to learn, but I had to the hard way.
__________________
♥ ♥
Reply With Quote
     
     
  #100  
Old Posted Mar 19, 2014, 2:56 PM
Bdog's Avatar
Bdog Bdog is online now
Registered User
 
Join Date: Jul 2005
Location: Winnipeg
Posts: 2,049
Quote:
Originally Posted by Cyro View Post
I don't invest in any venture if I can't be guaranteed coming out ahead in the end. Tough lesson to learn, but I had to the hard way.
So, GICs and municipal bonds only I guess...
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada > Manitoba & Saskatchewan
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 6:07 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.