The Sky [845 Carling Ave] | 73/155/191m | 18/45/55f | Approved

[Marcus CLS]

Dow Honda has closed and moved to their new location on Colonnade Road.

[kevinbottawa]

I drove past this site and saw that Richcraft has a sign saying the old Dow showroom and service centre are available for lease. I guess they won't be moving forward with their project for a while. I'm no real estate expert but I imagine no one would sign a lease for less than five years, especially a car dealership. If they were to find a tenant, any guesses on when they would actually move forward with this project?

[Harley613]

I'd imagine this project will be on hold until the condo market heats up, so who knows when... 2020 launch at the earliest I'd guess.

[teej1984]

Updated design: http://skyrisecities.com/news/2015/1...lding-approved

[rocketphish]

Originally Posted by teej1984

Updated design: http://skyrisecities.com/news/2015/1...lding-approved

Doesn't look any different to me than what was posted here over 2 years ago:
http://forum.skyscraperpage.com/show...&postcount=110

Or am I missing something?

[tateyb]

Originally Posted by rocketphish

Doesn't look any different to me than what was posted here over 2 years ago:
http://forum.skyscraperpage.com/show...&postcount=110

Or am I missing something?

I think it's just a checkin. It's been approved since two years ago though.

[teej1984]

My bad, i circled through a few of the older pages and the only images I noticed didn't look like this one. Sorry.

[christmas]

Is this project still alive? Any updates on this one?

[enrigue8]

Originally Posted by christmas

Is this project still alive? Any updates on this one?

I think that the project is on hold until the condo market
is back stronger.

[Arcologist]

The fact that there is no website for this condo development would indicate to me that it's on hold for the time being.

Too bad, because they're nice towers -- very different than the usual Ottawa boxes we get.

[c_speed3108]

The Claridge one is selling slow. I am not surprised this one got shelved.

I read someplace that Ottawa currently absorbs ~500 new condo units per year. This thing was 1500 or 1800 or something like that on it's own.

With stuff like Zibi (>3000 units) plus whatever else downtown (where there is always a market), a few on Beechwood etc.. also going on, we have far too many new builds at this time.

We would either need a much stronger economy and condo demand or these buildings would need to become something else.

[Arcologist]

... or we slow the pace of single-family dwellings in the burbs and force people to start living in denser downtown areas.

[Uhuniau]

The Boomers have only started to retire. Just wait.

[cr872190]

These things happen in cycles. Current absorption rates for condos are rising, there have been less starts this year than the last 5 years, partially because almost every project in the pipe has switched to rental. Eventually inventory units will be absorbed, and more condominium projects will come on line.

Bigger(/richer) builders like Richcraft can afford to sit on these properties longer, especially since this one has a tenant until at least the end of the year.

[ServiceGuy]

My prediction would be different for this project. I doubt it will ever be built as proposed. Richcraft owner is not doing well health wise and his daughters are not particularly interested in the business. They do have good experienced staff and they are one of the largest land owners in Ottawa but it's mostly subdivision type land (Urbandale being the other largest I believe). Richcraft is also not prone to accepting high risk or the expense of absorbing inventory costs long term. They only ever do one high rise at a time often with lengthy gaps between projects (Galleria I & II, Bowery, etc). Generally nice buildings but one at a time and not until a certain sales percentage is reached in advance. My prediction is that this location will eventually be sold off for the capital gains to another high rise builder with deep pockets like Broccolini or Claridge given the proposal is already in place. Claridge would obviously depend on sales at Icon but who knows... maybe Dymon will pick it up.

[Proof Sheet]

Originally Posted by ServiceGuy

maybe Dymon will pick it up.

Or it could become a Shoppers Drug Mart or a shawarma place

[ServiceGuy]

Originally Posted by Proof Sheet

Or it could become a Shoppers Drug Mart or a shawarma place

Good possibilities. Too expensive for a Tim Hortons I think.

[Kitchissippi]

I wonder if the Civic Hospital move will defibrillate this development. If it had a wide range of pricing options, condo/rental components and medical clinics, it would be a great choice for a lot of people from hospital workers to those with chronic health issues. Put a Shoppers Drug Mart in the podium and it could be a hypochondriac's paradise especially if they built a direct connection to the hospital through a redesigned LRT station The hospital oval would make a cool view from high up.

[McKellarDweller]

^ Good thought.

To spin my broken record again... A grocery store here would be GREAT.

I understand conventional grocery store margins are thin, but I'm really at a loss why more companies aren't doing urban format grocery stores like Sobeys Urban fresh in Tribeca, or the Farm Boy on McRae - at least in urban grocery store deserts.

[Lakeofthewood]

Originally Posted by McKellarDweller

^ Good thought.

To spin my broken record again... A grocery store here would be GREAT.

I understand conventional grocery store margins are thin, but I'm really at a loss why more companies aren't doing urban format grocery stores like Sobeys Urban fresh in Tribeca, or the Farm Boy on McRae - at least in urban grocery store deserts.

Amen on the grocery store. House sitting for a friend who lives west of Preston and it blows my mind that there isn't a decent sized grocery store anywhere nearby. The closest options are either in the Glebe or in Hintonburg