[wormwood]

In the 2023-2026 capital budget there is approved funding for the Bonnie Doon District Energy system's planning and design. From the budget:

The development of a city-wide low carbon district energy network is identified as a big win in Edmonton's Community Energy Strategy.Starting the development of these low carbon and renewable energy systems in the Blatchford development the City manifested the opportunity and importance of district energy as one of the key actions for climate adaptation and resilience. Design and construction on the Downtown District Energy Initiative is ongoing and further feasibility studies have started in the River Crossing Development and for the Bonnie Doon project. The District Energy Strategy has been developed outlining the pathway for the City to develop the city-wide network over the next decades. Overall expected GHG reduction goals for the full implemented district energy strategy is 240,000 tCO2 per year.

From 2022's District Energy Strategy:

» The City is planning a new twin ice rink arena at the Dermott District Park site, close to the development. This City-owned facility could be an excellent source of waste heat for a District Energy System, and it could potentially house an energy centre.

 

[IanO]

How are we doing?

 

[thommyjo]

How are we doing?
View attachment 663451

The lack of movement on this one should really make all the nimbys chill for all other major TODs like riocans jasper gates. They’ll all be dead before anything happens.

 

[Canadian 001]

The lack of movement on this one should really make all the nimbys chill for all other major TODs like riocans jasper gates. They’ll all be dead before anything happens.

Oof yeah
6 years and NO Progress: Zero
Even Millwoods has not been started: although that could change in ~2026

Current Guesses are where all the Big Projects are:

TOD
Jasper Gates: Nope, not happening Ever (Not even with a 1970s level boom)
Millwoods: Probably Soon (1st Phase goes ahead in ~6-8 months)
West Ed: Nahh (Developers just don't wanna)
Strathern: Uhh Maybe (DP's Keep getting Submitted... still)
Bonnie Doon: Some Signs of Life Maybe (District energy thing may finally spur something)
Century Park: Can we Hurry up (Slow project)
Holyrood/East Junction: Eww Ugly pit (Regency Sucks, Slow Project)
Stadium Yards: Please keep it going (2nd Phase Complete Waiting for 3rd phase)

 

[Offworld]

The group that manages Bonnie Doon obo the owners is in quite a death spiral. It's bleeding external clients and barely has the remaining expertise to do anything close to the redevelopment render.

 

[wormwood]

The group that manages Bonnie Doon obo the owners is in quite a death spiral. It's bleeding external clients and barely has the remaining expertise to do anything close to the redevelopment render.

The manager isn't the same as the owner. The mall is owned by institutional investors.

 

[wormwood]

How are we doing?

As of January it is still on hold.

 

[Markyeg]

Oof yeah
6 years and NO Progress: Zero
Even Millwoods has not been started: although that could change in ~2026

Current Guesses are where all the Big Projects are:

TOD
Jasper Gates: Nope, not happening Ever (Not even with a 1970s level boom)
Millwoods: Probably Soon (1st Phase goes ahead in ~6-8 months)
West Ed: Nahh (Developers just don't wanna)
Strathern: Uhh Maybe (DP's Keep getting Submitted... still)
Bonnie Doon: Some Signs of Life Maybe (District energy thing may finally spur something)
Century Park: Can we Hurry up (Slow project)
Holyrood/East Junction: Eww Ugly pit (Regency Sucks, Slow Project)
Stadium Yards: Please keep it going (2nd Phase Complete Waiting for 3rd phase)

Not quite WEM but the lot on the SE corner of 170th/87 ave will be pretty high on Maclab’s list after the fire two towers in Millwoods

 

[Edmcowboy11]

Bonnie Doon could be an amazing hub.

 

[IanO]

Could/should being the operative word. At the moment it appears to be more about a revaluation/refinancing effort.

 

[Offworld]

The manager isn't the same as the owner. The mall is owned by institutional investors.

No sh1t, Sherlock. I'm in the business. Until the investors put Morguard in the bin, Bonnie Doon is dead in the water. Morguard is losing a ton of third party clients, fired actually.

 

[wormwood]

 

[inclusion]

No sh1t, Sherlock. I'm in the business. Until the investors put Morguard in the bin, Bonnie Doon is dead in the water. Morguard is losing a ton of third party clients, fired actually.

Truth, plus they never really recovered after the 2019 downturn and the pandemic made matters worse. They are heavily exposed in malls, etc which haven’t recovered nor have offices. They had a lot of debentures that needed to be renewed several years ago. Are they having liquidity issues now? Seemed like that was a risk a few years ago for them. Rising interest rates must have hit them hard.

Unless they gain partners, I feel like this isn’t going to get off the ground any time soon. It seems like they have other core business issues to deal with.

 

[Barnaby]

Alot of these neighbourhood malls should really pivot to subdividing, selling to developers with a 1 year development caveat. You shore up your customer base for your anchor tenants, which are usually grocers, liquor stores, dollar stores.

Bonnie Doone would be great for this given the location of it's LRT stop and bus routes.

 

[johnnyboy]

^ I wonder how long that Makami lease is?