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

[Bluenote]

Originally Posted by Roger Strong

The CBC and others have been repeating this story. Smaller news sites within the industry are adding their own spin. But they have a common thread: The Financial Services Commission of Ontario (FSCO) hasn't been doing its job. It saw illegal activity and did nothing. It was warned by the Canada Revenue Agency told FSCO that Fortress syndicated mortgages were in effect a Ponzi scheme, and did nothing. Even their own compliance officer called the investments "Ponzi like in nature."

So now the FSCO is feeling the heat. They'll have to do something.

If you're an investor, you may as well put on a dinner jacket and have a brandy as the ship goes down.

If this is all true then that land should be seized from Fortress so a fraction of its sale can go back to the investors. And Fortress and all its CEOs need to be banned from working ever again in Canada.
We as in the city should also sue them for wasting our fxxking time

[Authentic_City]

SkyCity update: I was downtown this morning running errands and I saw a man unlock the door and enter the SkyCity display centre on Fort Street. The man was well dressed and carrying a large coffee. I believe it was Starbucks.

That is all.

[BigG]

Did you happen to see the name on the cup?

[Roger Strong]

Originally Posted by Authentic_City

SkyCity update: I was downtown this morning running errands and I saw a man unlock the door and enter the SkyCity display centre on Fort Street. The man was well dressed and carrying a large coffee. I believe it was Starbucks.

Thanks! That's the most significant progress update on the project in over a year.

[bomberjet]

I keep checking to see if the billboards get updated to something more than "over 50% sold". But no, nothing.

[DLLB]

Originally Posted by Authentic_City

SkyCity update: I was downtown this morning running errands and I saw a man unlock the door and enter the SkyCity display centre on Fort Street. The man was well dressed and carrying a large coffee. I believe it was Starbucks.

That is all.

That is the most progress there in 2 years.

[borkborkbork]

Originally Posted by Authentic_City

SkyCity update: I was downtown this morning running errands and I saw a man unlock the door and enter the SkyCity display centre on Fort Street. The man was well dressed and carrying a large coffee. I believe it was Starbucks.

That is all.

Their current promo is "don't pay property taxes & zero condo fees for your first year"



You don't have to pay condo fees if there's no condo built

[Wolf13]

Originally Posted by borkborkbork

Their current promo is "don't pay property taxes & zero condo fees for your first year"



You don't have to pay condo fees if there's no condo built

This guy knows.

[DLLB]

Originally Posted by Wolf13

This guy knows.

Really makes you wonder

[Pi3141592654]

Originally Posted by Finessing

Toronto can’t stop talking about this condo cancellation, but one industry player says the market is still strong



How ironic is it that Fortress Real is doling out advice on why condos get cancelled...

Looks like Myers has ventured out on his own:

https://bullpenconsulting.ca/about/

Bon chance!

[Wolf13]

Originally Posted by Pi3141592654

Looks like Myers has ventured out on his own:

https://bullpenconsulting.ca/about/

Bon chance!

He should have jumped ship from SkyCity a little sooner...

[Roger Strong]

Aug 31, 2016:

Originally Posted by Cyro

As emeraldeyes has just posted the News Letter, they have officially stamped this proposal at 50% sold.

16 Months and counting at 50% sold.

Another Fortress project, Jasper House, was cancelled a month ago after three years at 50% sold.

There's yer measure of progress.

[Jets4Life]

My New Year's Resolution is not to drink alcohol.

Having said that, knowing this thread is still going is causing me to crave a shot of tequila.

[1ajs]

then dont read this thread

[Wolf13]

Originally Posted by 1ajs

then dont read this thread

That's like not looking at a car crash... curiosity kicks in...

[Bluenote]

Be nice if they could just put up a new billboard. That alone would improve that parking lot lol

Let’s face it. It’s not getting built. I just hope the investors can recoup some money on the sale of the lot. And I still say Fortress should be banned from entering winnnipeg ever again.

[rrskylar]

Originally Posted by Roger Strong

Aug 31, 2016:

16 Months and counting at 50% sold.

Another Fortress project, Jasper House, was cancelled a month ago after three years at 50% sold.

There's yer measure of progress.

Well three years in to the Fortress Capital Pointe project in Regina and they’re still diggging the hole (off and on but mostly off)

Good to know that there is such great protection for those foolish enough to buy into these pyramid schemes! I

[The Unknown Poster]

What happens to the deposits prospective owners put down? Can they opt out or is it locked in until the developer either completes the project or cancels it?

A friend of a friend had bought in and was very excited. I think some people might look at this and if the idea of living downtown in a cool building is exciting, they'd want to move their deposit to True North (or rent 300 main).

[esquire]

^ Good point, in some respects this thing finally being put out of its misery could give other projects around the city a shot in the arm once people get their money back. But who knows how long that will take?

[Wolf13]

Originally Posted by The Unknown Poster

What happens to the deposits prospective owners put down? Can they opt out or is it locked in until the developer either completes the project or cancels it?

A friend of a friend had bought in and was very excited. I think some people might look at this and if the idea of living downtown in a cool building is exciting, they'd want to move their deposit to True North (or rent 300 main).

TNS is also apartments, not condos. That said... they don't have condo competition anymore.