What do you think of this project?

  • I like it a lot

    Votes: 74 79.6%

  • I like it

    Votes: 13 14.0%

  • I neither like nor dislike it

    Votes: 6 6.5%

  • I dislike it

    Votes: 0 0.0%

  • I dislike it a lot

    Votes: 0 0.0%
  • Total voters
    93
That's what I'm thinking as well, maybe they will wait and see what happens with the general perception of downtown in a few years with the hopes that a new city council will actually do something about the state of downtown..
Friendmonton said:
Ouch, surely when Warehouse Park is done, leasing will shore up. I feel their pricing might be a tad high compared to the competition, hence the student incentive.

On the other hand, if true, “5 years” might be a nice way to say never
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It is funny seeing the differing information we get from people on this forum and what leasing agents have been saying.

I'm still leaning on it getting built faster than expected. The moment the Westrich projects start and the park and 106 streetscape finishes, the area's going to be much more desirable imo.
 
I am not surprised at all, the building itself looks to be complete, by itself. I'm not sure how serious the developer is in building the second phase but it does look like they set it up to walk away if necessary.
From my experience, this is never a good sign in the Edmonton market.
 
northlands said:
Which is very possibly true, but it's in the leasing agents best interest to go with longer predicted timelines, rather than saying "Please rent in this building! Oh btw starting next year there's going to be years of 6-7 days a week, 7 AM to 10 PM construction literally 20' away from you"
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That was exactly my guess, as well. A lot of prospective tenants are not going to be thrilled at the prospect of having to live near a noisy construction site, or to have their views be blocked by another tower, etc. For all we know, the leasing agent could be right on the money, but I wouldn't trust someone who is essentially in a sales or promotional role to give the totally unvarnished truth here.
 
A few months ago, I had a quick chat with the selling agent. My understanding is he was told the entire project build-out would take about 5 years. However, based on leasing progress, he doubts that timeline will hold. Instead, he predicts it might take up to 5 years just to break ground, meaning completion would be even further out. Not sure if his correct or not but only time will tell.
Logged in specifically to share this update. Heading back to lurker mode now! 😄
 
You're not off the hook yet...lol. "5 years just to break ground..." refers to "what" exactly?
 
MacLac said:
You're not off the hook yet...lol. "5 years just to break ground..." refers to "what" exactly?
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Based on poor leasing and market condition, he estimated a 5-year delay before breaking ground on the second tower. He personally guessed that after 5 years, favorable market conditions would allow Tower 2 to move forward, potentially followed later by the connector building (also market-dependent). Despite being told that both remaining buildings would be completed within 5 years, he remained skeptical.
 
I already don't like this guy - what a crappy salesman!! Isn't their primary job not to "hype, hype and hype some more of the entire project?" Sounds like he doesn't wanna be there.....perhaps a sheep in wolves clothing? Do we have a YYC'er up here to assist the process of not building in YEG? lol
 
Glenco said:
Are salespeople really the ultimate authority when it comes to corporate decision making? Personally I would take everything they say with a grain of salt.
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Exactly.....especially if the salesman/woman looks like this.

1754417158342.png
 
The way the "5 years" thing was phrased leaves so much for interpretation that it leads me to think that it's more likely than not just him trying to reassure the potential renters that there will be no construction going on for the foreseeable future like someone said.
But let's assume that 5 years is the estimate for the completion of the second tower and connector, for example, and that these are built entirely separate, and consecutively to each other, this would give ~3 years to complete the tower and ~2 years for the connector, based of how long this tower took to be finished?
 
Glenco said:
Are salespeople really the ultimate authority when it comes to corporate decision making? Personally I would take everything they say with a grain of salt.
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Ultimately, I would much rather hear from the representors from Pangman or whoever holds the purse strings for Parks 2 than from some lowly sales weasel.
 
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