SkyCity Centre Winnipeg | 45F | 575 Ft | 175.26 M | Cancelled

[Urban recluse]

Skycity gonna be a reality
Skycity gonna f@ck dat mortgagee
Skycity tallest in da peg
Skycity gotta huge price tag

See her rise, a site to behold
C'mon buyers, enter da fold

More possible, but my boss is here lol

[bomberjet]

From my latest pass by the billboards on site yesterday, sales are still at 150+. I see Big Ben Myers is in town today, speaking at the real estate conference or something like that.

[Wolf13]

Nobody get me wrong, I absolutely want SkyCity to succeed, especially for the buyers!

However, this model allows the developer to profit substantially even if everything crashes... that this method of financing isn't regulated in a fairer manner to the buyer rather than "consultant" is confusing.

However, I do believe they will hit 200 units eventually, and will raise my glass to them when it happens.

[rkspec]

Originally Posted by Wolf13

However, this model allows the developer to profit substantially even if everything crashes... that this method of financing isn't regulated in a fairer manner to the buyer rather than "consultant" is confusing.

preach it wolf....

Seeing how i got taken for 80k+ buy a reputable, parade of homes winning house builder, there is no way i'd throw down on this when the grounds not even broken. Not sure what skycity's model is but in my case, insolvency was a mothafugga.

[Cyro]

Some talk today in the Freep of another potential development in the future, residential/condo boutique? Of course this is based on their ability to get shovels in the ground next year on this project, preferably this fall, if they reach their pre-sale goal of 200, their required threshold for obtaining financing for the project.

There was also mention of 47 storeys? Hmmm We'll see where this goes..

[bomberjet]

Maybe the other project is the St Regis thing.

[Only The Lonely..]

Originally Posted by bomberjet

Maybe the other project is the St Regis thing.

You'd have to get in the DeLorean and go wayyyy back in time, but, when this project first surfaced years ago there was mention of a smaller 21 story twin tower being built next to Skycity if my memory serves me right.

[Cyro]

Originally Posted by bomberjet

Maybe the other project is the St Regis thing.

Yeah, that plan was for a parkade, with the added bonus of several floors of office/retail kicked in..

This was more about a new condo/or apartment block in the core/or suburban for that matter, pure speculation at this point in the game.

[bomberjet]

Yeah, I was able read the article finally. Big Ben said it could go anywhere really. Downtown, suburbs. With local interested partners too. Big Ben also said they're still planning on getting to 200 units. Financing would likely be required from multiple lenders, etc, etc. Which is concerning to me, since I'm not fully up to speed on the comings and goings of this world. I would have thought they've already engaged lenders, have people waiting in the wings. So when the sales hit their target, the funding would be approved in a relatively easy process.

[Wolf13]

I love me some optimism, and I like to cheesily say that realism and optimism aren't mutually exclusive, but for ANOTHER residential project to be slated for here by Fortress??? I'll believe it when I see it.

I wonder if it's merely a dropped hint to help bolster the appeal to living downtown. Hell, SkyCity isn't even confirmed yet!

Originally Posted by bomberjet

Yeah, I was able read the article finally. Big Ben said it could go anywhere really. Downtown, suburbs. With local interested partners too. Big Ben also said they're still planning on getting to 200 units. Financing would likely be required from multiple lenders, etc, etc. Which is concerning to me, since I'm not fully up to speed on the comings and goings of this world. I would have thought they've already engaged lenders, have people waiting in the wings. So when the sales hit their target, the funding would be approved in a relatively easy process.

Forget 200 units... that's what they need to build... the need to sell 365+ to succeed!

If/when 200 units get pre-sold, SkyCity WILL be great for downtown! But that doesn't mean it will be great for the developer. Selling 300 of 400 is still losing money, and it looks like it could be a grind just to get to 200 let alone 350+.... so any mention of another Fortress Mady project seems like show business rather than business business.

A 1/2-2/3 full SkiCity will add great livelihood to downtown and open doors for further retail projects, while helping office buildings also...If it gets built, a failed project can still help our city as whole, but not them.

[Cyro]

Originally Posted by Wolf13

but for ANOTHER residential project to be slated for here by Fortress???

It's pure speculation at this point, whether the motive is to sell more units in the current project or not. It's been noted as such.

[bomberjet]

Originally Posted by Wolf13

I love me some optimism, and I like to cheesily say that realism and optimism aren't mutually exclusive, but for ANOTHER residential project to be slated for here by Fortress??? I'll believe it when I see it.

I wonder if it's merely a dropped hint to help bolster the appeal to living downtown. Hell, SkyCity isn't even confirmed yet!




Forget 200 units... that's what they need to build... the need to sell 365+ to succeed!

If/when 200 units get pre-sold, SkyCity WILL be great for downtown! But that doesn't mean it will be great for the developer. Selling 300 of 400 is still losing money, and it looks like it could be a grind just to get to 200 let alone 350+.... so any mention of another Fortress Mady project seems like show business rather than business business.

A 1/2-2/3 full SkiCity will add great livelihood to downtown and open doors for further retail projects, while helping office buildings also...If it gets built, a failed project can still help our city as whole, but not them.

I know its only 200/388 units. If there's an actual building under construction, I think people would be more likely to buy in. Look at dCondo. By the time occupancy comes, people have been waiting 5 years to get in. 5 freakin years of life to move in a small suite.. Forget that.

[Biff]

Fortress said, if all works well they would definitely be interested in doing another project in Winnipeg. That's it. I would think any developer would say the same thing. If SkyCity becomes a success for them why wouldn't they try it again if the climate is still favorable for making money. I think some on here are taking things a little too literally.

[Wolf13]

Originally Posted by bomberjet

I know its only 200/388 units. If there's an actual building under construction, I think people would be more likely to buy in. Look at dCondo. By the time occupancy comes, people have been waiting 5 years to get in. 5 freakin years of life to move in a small suite.. Forget that.

Very true, there is a real "this is happening" twitch that kicks potential buyers into gear when a building goes up.

In terms of rate of pre-sales and percentages, this project isn't doing bad at all, but Winnipeg is unique because we have limited potential buyers. 188 is a big number... but I think they will pull it off.

Originally Posted by Biff

Fortress said, if all works well they would definitely be interested in doing another project in Winnipeg. That's it. I would think any developer would say the same thing. If SkyCity becomes a success for them why wouldn't they try it again if the climate is still favorable for making money. I think some on here are taking things a little too literally.

I may have misread Fortress' intentions there. If that's the case, what they said is completely normal.

[Finessing]

The buyers here better get used to their deposit money sitting there collecting dust. This thing isn't going anywhere, as the smart money has been saying since the start.

[bomberjet]

Sales number on site billboards still sitting at 150+ this morning.

[Cyro]

Originally Posted by Finessing

The buyers here better get used to their deposit money sitting there collecting dust. This thing isn't going anywhere, as the smart money has been saying since the start.

Originally Posted by Finessing

Could you comment on the status of:

1) Capital Pointe

May.16th.2016

Capital Pointe ‏@Capital_Pointe 22 hours ago
1st phase of lagging complete, secant piles along N wall, walers going up along E and SE perimeters. #smartluxury





http://forum.skyscraperpage.com/show...63#post7461163

[esquire]

Originally Posted by bomberjet

Sales number on site billboards still sitting at 150+ this morning.

Jumped up to 160 when I walked by over the noon hour.

Assuming no fudging, there still seems to be some positive sales momentum. I guess the real test will happen once they crack 200.

Incidentally, I noticed a billboard for this project recently... perhaps they're upping their advertising game?

[bomberjet]

Oh nice, 160. Now that you mention it, I haven't seen much advertising around. Except for online Twitter.Facebook type adverts.

[roccerfeller]

40 units should be doable