Originally Posted by murman
WOW. That has to be one of the most completely naive misunderstandings of the differences in markets and asset classes I've seen in some time.
Where do I even start? Do you even know what this project is proposed to be? Just to start, it's not even proposed to be a fricken' mall. What part of private club don't you understand?
Oh I understand it all thank you very much. All I am saying is that it is pretty naive to think that in Calgary a club like this wouldn't find its 10,000 members. Wouldn't it have been more of a stretch all those years ago to say WEM could make a go of it financially? That's all I was trying to say, I do know the difference between a mall and a private club
Do you know how long the waiting list is for the Glencoe club or the Winter club? A very very long time, especially in the case of the Glencoe.
We are still a very different city from Edmonton, a lot of people with money here like to make it known that they have it. That gets expressed in houses, cars, clothes and memberships to fancy ass clubs that they barely frequent yet pay crazy ass membership fees for.
So do I think this project would actually get its members? Yes. But I don't want to see it built.