WINNIPEG | Portage Place Redevelopment - Page 63

Jammon · #**1241** Posted **Dec 12, 2023, 6:45 PM**

Quote:

Originally Posted by trueviking

I wrote a column about it once. If Osmington didn’t buy the old Eatons buildings across the country when it went bankrupt, we wouldn't have the Jets. Amazing stroke of fortune for our city. Thank Glen Murray for putting them together.

https://www.numberten.com/blog/26-ur...es-long-legacy

I never thought about it in that context. Very interesting read. Thanks for sharing.

ColdRain&Snow · #**1242** Posted **Dec 12, 2023, 7:07 PM**

True North and Southern Chief's Organization have signed a partnership agreement. Estimated cost of Portage Place Mall redevelopment is up from $550 million to $650 million. Cost of The Bay redevelopment is up from $130 million to $200 million. Looks like both projects will be moving forward.

https://www.cbc.ca/news/canada/manit...ipeg-1.7056507

pspeid · #**1243** Posted **Dec 12, 2023, 7:26 PM**

Quote:

Originally Posted by ColdRain&Snow

True North and Southern Chief's Organization have signed a partnership agreement. Estimated cost of Portage Place Mall redevelopment is up from $550 million to $650 million. Cost of The Bay redevelopment is up from $130 million to $200 million. Looks like both projects will be moving forward.

https://www.cbc.ca/news/canada/manit...ipeg-1.7056507

Very good news, especially with both the city and the province on board. It's too bad the costs have increased so significantly, but that doesn't seem surprising in the current environment. I'm glad the cost increases didn't kibosh the projects altogether.

rdaner · #**1244** Posted **Dec 12, 2023, 7:37 PM**

Good to hear that these are going ahead! But wasn’t there supposed to be a theatre in The Bay renovation? Not mentioned in today’s update.

Wpg_Guy · #**1245** Posted **Dec 12, 2023, 8:11 PM**

Quote:

Originally Posted by rdaner

Good to hear that these are going ahead! But wasn’t there supposed to be a theatre in The Bay renovation? Not mentioned in today’s update.

Portage Place will maintain the theatre space for PTE, as for The Bay there has never been any mention of a theatre as part of the new redevelopment.

kent_eh · #**1246** Posted **Dec 12, 2023, 10:55 PM**

Plus there's still the unused IMAX theatre and the other old 2 screen theatre space in Portage Place.

OTA in Winnipeg · #**1247** Posted **Dec 13, 2023, 12:12 AM**

^The two Landmark screens are where the medical tower will be so I'm guessing they will be demoed.

pspeid · #**1248** Posted **Dec 13, 2023, 8:55 PM**

Not related to Portage Place per se, but a similar situation happening in Hamilton right now. The challenge of re-purposing an immense downtown mall or roughly the same era as PP:

https://www.cbc.ca/news/canada/hamil...date-1.7056869

In Hamilton's case, a private developer bought the property promising towers full of condos, since put on hold indefinitely.

I'm not trying to point fingers at Hamilton or crow about the promise of development with PP, but I admit to a feeling of "there but for the grace of God goes Winnipeg". I wonder if Starlight managed to buy PP, whether we would be in exactly the same situation as Hamilton?

Honestly, I like Hamilton and I hope this development goes forward for them sooner, rather than later, but personally I'm relieved the city has SCO/TNSE working on PP and Weweneh.

bomberjet · #**1249** Posted **Dec 13, 2023, 9:15 PM**

What is Thomson's involvement with this now? Was he at the presser? If he's bankrolling all this, with TNSE doing the work, I have a high level of confidence we will see something done. But will probably take a decade over numerous phases. Much like TNS.

pegster · #**1250** Posted **Dec 13, 2023, 10:44 PM**

Quote:

Originally Posted by bomberjet

What is Thomson's involvement with this now? Was he at the presser? If he's bankrolling all this, with TNSE doing the work, I have a high level of confidence we will see something done. But will probably take a decade over numerous phases. Much like TNS.

Thomson was there, see the video at the bottom of the CBC story: https://www.cbc.ca/news/canada/manit...ipeg-1.7056507

borkborkbork · #**1251** Posted **Dec 14, 2023, 10:17 PM**

Quote:

Originally Posted by pegster

Thomson was there, see the video at the bottom of the CBC story: https://www.cbc.ca/news/canada/manit...ipeg-1.7056507

every time i see him i wonder how you can be so rich and still cut your own hair

WinCitySparky · #**1252** Posted **Dec 14, 2023, 10:19 PM**

^ Answered your own question

borkborkbork · #**1253** Posted **Dec 14, 2023, 10:27 PM**

Quote:

Originally Posted by WinCitySparky

^ Answered your own question

Success Habits of Billionaire CEOs
- Don't waste money on haircuts
- Be first born son of a family dynasty worth >$50 billion

WinCitySparky · #**1254** Posted **Dec 15, 2023, 12:54 AM**

lol

audie · #**1255** Posted **Dec 15, 2023, 1:44 PM**

I bet he's cut out $2.05 on Tims coffee everyday by brewing his own

Wpg_Guy · #**1256** Posted **Apr 5, 2024, 1:48 PM**

Announcement scheduled for today…

FactaNV · #**1257** Posted **Apr 5, 2024, 2:16 PM**

Quote:

Originally Posted by Wpg_Guy

Announcement scheduled for this morning…

Fingers crossed! What time and where can it be watched?

Biff · #**1258** Posted **Apr 5, 2024, 3:50 PM**

At the announcement now.

FactaNV · #**1259** Posted **Apr 5, 2024, 3:58 PM**

Quote:

Originally Posted by Biff

At the announcement now.

Details ASAP lol!

Wpg_Guy · #**1260** Posted **Apr 5, 2024, 4:27 PM**

Quote:

Originally Posted by FactaNV

Details ASAP lol!

TN & SCO are partnering to built the 300,000-sq.-ft, 12-storey Health-Care Centre of Excellence, government has committed to being the tenant in the new tower, letter of intent was signed for 35-year lease agreement.

* target for completion of construction in 2028 (health Centre)
* purchase of portage place to close in June 2024
* demolition to begin in 2024 calendar year
* TN partnering with PCL
* confirmation of shared ownership TN & SCO of a 15-storey multi-family tower with 200+ units
* TN to gift west skywalk bridge to The Bay to SCO for ownership and programming
* Residential tower anticipated construction start in 2025 and target completion in 2026