MNP Tower | 143M | 36Fl | Completed - Page 13

trofirhen · #**241** Posted **Jun 3, 2011, 7:10 PM**

Quote:

Originally Posted by SpongeG

what way is that?

... difficult to be precise, Sponge, but provincial, dreamy, here-today gone-tomorrow type of thing ... or so it seems. Maybe not.

huenthar · #**242** Posted **Jun 3, 2011, 7:32 PM**

The "all talk no walk" way

trofirhen · #**243** Posted **Jun 3, 2011, 9:12 PM**

Quote:

Originally Posted by huenthar

The "all talk no walk" way

You got it in a nutshell, huenthar ! !

SpongeG · #**244** Posted **Jun 3, 2011, 9:43 PM**

well they have to peak interest out there by talking about it before it can happen or it will never happen

wrenegade · #**245** Posted **Jun 3, 2011, 10:02 PM**

Just like a residential building has to pre-sell condos to get construction financing, an office building has to pre-lease space in order to get going. This is the 3rd approved office building in the city (after the GM Place/Rogers Arena tower and Bentall 6), if building office buildings were easy, both of these would already be under construction. This isn't Calgary in an oil boom. You can't just build an office building on spec (EAP) and hope for the best. It's an achievement for Vancouver to have all these towers (plus Telus Garden) proposed, let alone approved or under construction. Be patient, they will happen.

trofirhen · #**246** Posted **Jun 3, 2011, 10:57 PM**

Quote:

Originally Posted by awvan

Just like a residential building has to pre-sell condos to get construction financing, an office building has to pre-lease space in order to get going. This is the 3rd approved office building in the city (after the GM Place/Rogers Arena tower and Bentall 6), if building office buildings were easy, both of these would already be under construction. This isn't Calgary in an oil boom. You can't just build an office building on spec (EAP) and hope for the best. It's an achievement for Vancouver to have all these towers (plus Telus Garden) proposed, let alone approve or under construction. Be patient, they will happen.

Enlightening and logical. Thanks for that piece of good perspective, AWVAN.

Mininari · #**247** Posted **Jun 4, 2011, 4:10 AM**

Quote:

Originally Posted by Metro-One

You should no better, this is an office tower proposal in Vancouver.

We will see renders, pass zoning, and then we will never hear about it again!

So funny; yet so true.
Lets not forget the long drawn out process Bentall 5 was... even when they did finally get started, they only built half of it! (vertical phasing). At least it only took a few years to get the next phase leased.

Sprawl · #**248** Posted **Jun 4, 2011, 3:26 PM**

This is such an un-Vancouver design, it would be a real shame for it to be shelved. That said, there's really no reason to assume that's occurred.

Quote:

Originally Posted by trofirhen

... difficult to be precise, Sponge, but provincial, dreamy, here-today gone-tomorrow type of thing ... or so it seems. Maybe not.

trofirhen · #**249** Posted **Jun 4, 2011, 4:27 PM**

Quote:

Originally Posted by Sprawl

This is such an un-Vancouver design, it would be a real shame for it to be shelved. That said, there's really no reason to assume that's occurred.

What does that digging image imply?

Some guy · #**250** Posted **Jun 5, 2011, 5:27 AM**

Was wondering the same thing. . . . .

LeftCoaster · #**251** Posted **Jun 27, 2011, 1:54 PM**

Things with this project seem to be humming along quite nicely. Just heard this could get started as early as late summer/early fall, but of course this is all contingent on leasing. Oxford seems very intent on getting this tower going as soon as possible though and may already have a prospective tenant lined up.

s211 · #**252** Posted **Jun 27, 2011, 3:19 PM**

Quote:

Originally Posted by LeftCoaster

Things with this project seem to be humming along quite nicely. Just heard this could get started as early as late summer/early fall, but of course this is all contingent on leasing. Oxford seems very intent on getting this tower going as soon as possible though and may already have a prospective tenant lined up.

If anything, Oxford will go on spec, or not at all. No way are they going to find a large anchor tenant that wants to split its business up into multiple micro floorplates. It's too inefficient.

LeftCoaster · #**253** Posted **Jun 27, 2011, 3:52 PM**

There is no way Oxford builds this on spec. Oxford a very conservative pension owned developer and has absolutely no incentive to build this or any tower on spec for that matter. Large spec buildings are risky in the best of markets and only are really viable in hot markets with high absorbtion rates like Calgary or Toronto.

Oxford may not necessarily be courting one tenant, but two or three midsized anchors, we'll see how it all plays out.

s211 · #**254** Posted **Jun 27, 2011, 7:32 PM**

Quote:

Originally Posted by LeftCoaster

There is no way Oxford builds this on spec. Oxford a very conservative pension owned developer and has absolutely no incentive to build this or any tower on spec for that matter. Large spec buildings are risky in the best of markets and only are really viable in hot markets with high absorbtion rates like Calgary or Toronto.

Oxford may not necessarily be courting one tenant, but two or three midsized anchors, we'll see how it all plays out.

I've heard more than one Oxford staffer say that says spec is a real possibility.

Metro-One · #**255** Posted **Jun 27, 2011, 9:35 PM**

Fingers crossed! This tower along with Vancouver's Turn (which I am guessing is dead by now) are the two towers i want to see be built the most of all the current proposals in Vancouver.

Would be amazing if this tower, and Telus, were under construction at the same time. Could you imagine that? Two office towers being built simultaneously in Vancouver?

giallo · #**256** Posted **Jun 27, 2011, 10:25 PM**

^That'd be really nice.

Any word on the height increase recommended by the city? Are they going to add a few metres to the crown or add a floor or two?

jlousa · #**257** Posted **Jun 27, 2011, 11:39 PM**

The city didn't recommend extra height, that was the udp which is an independant advisory panel. It's doubtful that Oxford will look at any extra height though as it would require rezoning which would add months if not years to the application, not to mention a complete rework of the exisiting plans, all for an additional couple of floors or so.

Prometheus · #**258** Posted **Jun 28, 2011, 1:22 AM**

Quote:

Originally Posted by Metro-One

Fingers crossed! This tower along with Vancouver's Turn (which I am guessing is dead by now) are the two towers i want to see be built the most of all the current proposals in Vancouver.

I recall someone posting an excerpt from one of Rennie's newsletters from about a year ago which said we should watch for movement on Vancouver's Turn in the fall of 2011. Does anyone else remember that?

Also, about a year ago in the Vancouver's Turn thread, someone claimed to have a friend in the office of the Development Permit Board who said that the DPB had received an application for the building.

Regardless of whether any of the above is valid, I can't imagine that this project is truly dead. The lot has been cleared and excavated; an iconic design by Canada's most famous architect has been approved by the UDP; extra height was granted by the city. There are no further hurdles to this building and, when favourable market conditions present themselves, I can see no reason why it wouldn't be built.

But what do I know?

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