What do you think of this project?

  • Total voters
    60
JMatt88 said:
Yay to capitalism and banks! hah
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I'm sorry, but the rent collected on and the multiple of an empty space is ZERO!! Yes, I realize this is how they do it, but the emperor has no clothes here and is why I am calling it out.

I understand space can be vacant for a while, but when it becomes years, the market is trying to tell you the rate you using is not realistic. For banks and landlords to pretend otherwise reduces the properties cash flow and long term viability.
 
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So they are selling this block -- I guess that puts short term development of the tower on hold at least until a buyer is in hand. I wonder if the land on 104th Street is also part of the package. I also wonder if the sale impends development of ICE II.
 
thommyjo said:
Selling before banquet and icehouse go under?
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Realtors are sales and lease oriented -- it's how they make a living. Smart developers like Beljan scope retail and hospitality before they begin a development and stay focused on a pre-planned outcome. Most developers put very little thought into the commercial side of "mixed use" and end up paying the price-consequences. Bank-City (ICE I) has paid the price for ignoring the needs of (especially) Retail but also Hospitality. When I used to go to Staples Centre in L.A. for client meetings on non-game days the surrounding shopping/eatery area was a ghost town and the direct opposite on game days or when a concert event was taking place -- I imagine the same is true for ICE I -- the preponderance of banks in the area only makes the situation worse. The fact that TD is tied to Avison-Young shows the desperation in the move to sell. I project that this will remain on the market for a long time before anyone swallows this bitter pill.
 
archited said:
So they are selling this block -- I guess that puts short term development of the tower on hold at least until a buyer is in hand. I wonder if the land on 104th Street is also part of the package. I also wonder if the sale impends development of ICE II.
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I find this disappointing that they are not proceeding with this original rental tower - I guess they want to get city money to build housing but just not here since perhaps the city well is dry for this phase of project.
 
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archited said:
Realtors are sales and lease oriented -- it's how they make a living. Smart developers like Beljan scope retail and hospitality before they begin a development and stay focused on a pre-planned outcome. Most developers put very little thought into the commercial side of "mixed use" and end up paying the price-consequences. Bank-City (ICE I) has paid the price for ignoring the needs of (especially) Retail but also Hospitality. When I used to go to Staples Centre in L.A. for client meetings on non-game days the surrounding shopping/eatery area was a ghost town and the direct opposite on game days or when a concert event was taking place -- I imagine the same is true for ICE I -- the preponderance of banks in the area only makes the situation worse. The fact that TD is tied to Avison-Young shows the desperation in the move to sell. I project that this will remain on the market for a long time before anyone swallows this bitter pill.
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I feel that is a very good point, planning and developing the retail and commercial space with specific uses and tenants in mind. I feel here often we are just building the retail commercial space because we have to and then it sits empty for a long time which is really a sub optimal outcome for everyone or someone less polite may call it dumb.

However, I also realize COVID came along just as this project was being completed and really upset the apple cart cart. I suspect getting banks to lease the space was very much a plan B or plan C. For instance, to this very day the food area on the second floor in Stantec remains empty. It is a 66 storey building with no food or drink places 5 years later except a coffee cart and the Henry Singers venture. Yet when I went there yesterday, I counted the food seating area had over 50 people there having there lunch. Someone is seriously missing the boat here.
 
Stantec gets a D for their outside entrance spaces.

We need our big companies to step up more with making their areas more beautiful and inviting.

The south entrance does have a flower bed, but it's hardly special. The northside entrance has nothing. They pale in comparison to Enbridge.

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The only trees on 103Ave from 102-109 streets are along Ice District. But with the heat and the south exposure with the buildings behind them, the temp felt like 40+ today. A few of the trees were in distress as their leaves are all curled up within last few days. Water please.

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^^ Hines over at Enbridge may be running the best building in town. Incredible space outside that is kept spotless with great flowers that change seasonally. Thye activate the lobby with frequent tenant events, nicely decorated for major occasions. Noticeable exterior security presence and active on the interior as well.

They are a shining example for everyone else and the bar others should be reaching for.
 
Considering that OEG owns Concorde Group (large company that owns a bunch of restaurants in Calgary), I'm surprised they have not opened one of their businesses here like Barbarella Bar, Major Tom, Bridgette Bar, etc., as any of those would do much better than any big 'chain' like Canadian Icehouse/Brewhouse ever would. Imagine a Major Tom atop the 66th floor of Stantec - missed opportunity if you ask me.
 
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