New Harvard Office Tower in Downtown Regina! - Page 4

Stormer · #61 Posted **Jul 7, 2010, 2:48 PM**

Quote:

Originally Posted by youngregina

80 Million?!.... If they are going to spend 80 million dollars on an office tower, then I disagree with you^^^. They could easily just 'get it right' and set aside more room for retail at the base. I mean complete redesign of the lobby and surrounding space could mean big bucks for the Hill's considering more tenants would be renting space. Whereas the lobby is a white elephant of space, that will never give a return. Ever.

For sure this will be $80 million if you count the land and tenant inprovements. I assure you the developer knows exactly what the value of street retail is versus tenant common areas. The developers know very well that it is very difficult to rent retail downtown. This will be particulary true of brand new class A space. At a cost of $400 psf they will need to get $32 net rent. There are plenty of vacant store fronts downtown that you could rent for around $15 net. On the other hand, they will build the cost of the common areas in to the rent of the office tenants who will expect, or perhaps even specified a nice, reasonably spacious lobby.

I am all for dowtown retail, but as I said, you have to make compromises. This is a vast improvement over the most other towers downtown that have minimal active uses at street level.

HomeInMyShoes · #62 Posted **Jul 7, 2010, 4:08 PM**

I'd love to see a bit more retail space within the street level as that corner is a really important one. It's a connection between the Scarth and Hamilton areas and we need to pull pedestrian traffic from one street to the other.

I'd also love to see the building a bit taller. Not that I think it's feasible, but from a skyline perspective, something around 105m would have stood out and given a focal point to the core. But that would also be a bit at odds to the focal point that the twins have created so maybe the height makes sense, but I hate having all the tallish buildings in the core the same height. What are we, Ottawa?

I am looking forward to seeing a couple of cranes on the horizon in Regina.

thefourthtower · #63 Posted **Jul 7, 2010, 6:50 PM**

there is nothing wrong with a grand hall ,it is a vast improvement over other towers downtown ,it would be much grander if it were 105 meters its time to upstage the twins

tenteno2 · #64 Posted **Jul 8, 2010, 2:50 PM**

Quote:

Originally Posted by thefourthtower

there is nothing wrong with a grand hall ,it is a vast improvement over other towers downtown ,it would be much grander if it were 105 meters its time to upstage the twins

A vast improvement over terrible may still be poor/unacceptable. If the largest developer in downtown won't create buildings with great impacts to the neighbourhood fabric, who will?

Rottie · #65 Posted **Jul 8, 2010, 3:48 PM**

Quote:

Originally Posted by Dale

Booooooooo! on the height. 84.5 meters is squat considering floor-to-ceiling heights these days.

I'd like to see the tower at around 100 meters, especially because of it's central spot but it still is destined to be a new tallest and 84.5 m is not small potatoes. Also it is just a rendering and details may change including the height and lobby without retail that some people dislike.

Dale · #66 Posted **Jul 8, 2010, 4:51 PM**

Quote:

Originally Posted by Rottie

I'd like to see the tower at around 100 meters, especially because of it's central spot but it still is destined to be a new tallest and 84.5 m is not small potatoes. Also it is just a rendering and details may change including the height and lobby without retail that some people dislike.

I wonder if it's 84.5 to the top of the roof ornament or to the actual roof ? Either way Regina has a new tallest without the aid of a skinny spire. In other words, it's a new tallest and it looks it.

But if 84.5 does not include that prominence that extends beyond the roof, then the height difference will be especially evident.

Nathan · #67 Posted **Jul 8, 2010, 11:33 PM**

Quote:

Originally Posted by tenteno2

A vast improvement over terrible may still be poor/unacceptable. If the largest developer in downtown won't create buildings with great impacts to the neighbourhood fabric, who will?

The developer also has to look at whether or not there is a market to rent the space. What looks better: Having a larger, grander lobby or having a bunch of extra retail spaces that sit dormant and empty?

Also, if in the future there is more demand for retail space downtown, I'm sure they could always revisit the design and add some retail space. It would be a much easier conversion to go from lobby to retail than the other way around.

thefourthtower · #68 Posted **Jul 9, 2010, 3:30 AM**

Quote:

Originally Posted by Nathan

The developer also has to look at whether or not there is a market to rent the space. What looks better: Having a larger, grander lobby or having a bunch of extra retail spaces that sit dormant and empty?

Also, if in the future there is more demand for retail space downtown, I'm sure they could always revisit the design and add some retail space. It would be a much easier conversion to go from lobby to retail than the other way around.

so very true it is an office tower not , is there not going to be any coffee shops on the main level ,

youngregina · #69 Posted **Jul 9, 2010, 5:31 AM**

I don't think anyone means coffee shops. But it would be interesting to see if some higher end stores were to move onto the street. And in a newer building with a grander look, it would fit the bill. Thing's that are new and shiny gather lots of attention, and things that gather lots of good attention are good for retail and businesses. I can guarantee that if there were to be more retail spaces on the main level, they would be filled out in no time.

Also... just on the side- there is absolutely no need for more coffee shops around that area of downtown. Maybe, and just maybe enough demand for something in the eastern section of downtown. But right now there is Green earth, Atlantis, Aegan coast, 2 Tim Hortons, Second cup-all in the same vicinity. Am I missing any?

I guess what I'm trying to say is I sure as heck hope there will not be anymore coffee shops as it would be such a waste of space.

babo · #70 Posted **Jul 9, 2010, 1:11 PM**

Regina, especially downtown, needs more coffee shops.

Stormer · #71 Posted **Jul 9, 2010, 3:18 PM**

Quote:

Originally Posted by youngregina

Also... just on the side- there is absolutely no need for more coffee shops around that area of downtown. Maybe, and just maybe enough demand for something in the eastern section of downtown. But right now there is Green earth, Atlantis, Aegan coast, 2 Tim Hortons, Second cup-all in the same vicinity. Am I missing any?

Muddy Joe's. You can never have too many coffee places. They are a sign of activity. Isn't there a corner on Robson street in Vancouver that has two Starbucks and a Second Cup?

I would love to see a great upscale restaurant in the new building.

skthunder77 · #72 Posted **Jul 9, 2010, 5:13 PM**

Quote:

Originally Posted by Stormer

Muddy Joe's. You can never have too many coffee places. They are a sign of activity. Isn't there a corner on Robson street in Vancouver that has two Starbucks and a Second Cup?

I would love to see a great upscale restaurant in the new building.

Muddy Joes is no more. It has been closed for a while. They couldn't get more than a months lease from Harvard and their rent was going up constantly. Also, they were going to try and move to the Scarth Street mall but Beer Bros blocked them. So, RIP Muddy Joe!

youngregina · #73 Posted **Jul 10, 2010, 3:13 AM**

I don't know why I think we don't need anymore coffee shops.. I never really put them together with being a sign of activity. But I'm thinking we need more of a blend of retail. So more coffee shops yes, but on that corner, no. However I think I got us off topic here. So back to the tower!

cutterp · #74 Posted **Jul 10, 2010, 6:14 PM**

If they build more coffee shops that is fine. So long as they aren't Tim Horton's coffee shops.

I avoid them as much as I avoid Walmart. Also I like the grand lobby.

bob1954 · #75 Posted **Jul 11, 2010, 6:21 AM**

Nice tower! A couple of 30-story towers would really nail that skyline! By the way, what's the vacancy rate in Regina?

brithgob · #76 Posted **Jul 11, 2010, 6:31 AM**

Class A is below one percent and has been for some time.

bob1954 · #77 Posted **Jul 11, 2010, 6:55 AM**

And their gonna screw around with a 19 story tower! Sounds like the developer is playing it pretty conservative. I think you're entire province might be in for pretty good growth in the next few years.

WhipperSnapper · #78 Posted **Jul 11, 2010, 12:54 PM**

What percentage of the class A inventory does this tower represent? 19 storeys may not be as conservative as you think.

TechnicalRecession · #79 Posted **Jul 11, 2010, 6:07 PM**

Quote:

Originally Posted by bob1954

And their gonna screw around with a 19 story tower! Sounds like the developer is playing it pretty conservative. I think you're entire province might be in for pretty good growth in the next few years.

You are correct it is conservative, but the company building it, is very conservative by nature, they have been for years. They like to have every square foot of space rented before they commit to renting it out. They'd rent out a maintenance closet if they could. They certainly don't live by the notion of build it and they will come.

Rottie · #80 Posted **Jul 11, 2010, 8:04 PM**

Quote:

Originally Posted by TechnicalRecession

You are correct it is conservative, but the company building it, is very conservative by nature, they have been for years. They like to have every square foot of space rented before they commit to renting it out. They'd rent out a maintenance closet if they could. They certainly don't live by the notion of build it and they will come.

You are right. Downtown Regina office buildings have never been built on speculation like here in Calgary. I believe Calgary's office vacancy rate is about to rise to about 20% soon because of the millions of square feet of new space that has been built over last year.