Edmonton Retail Thread - Page 142

Gus Haynes · #**2821** Posted **May 31, 2020, 4:14 AM**

Quote:

Originally Posted by Coldrsx

Went into the new Helm location (next to the old Blue Plate) last night, looks great. Looking forward to seeing what backfills their spot, for it might be the best retail space in the Downtown at the moment.

Speaking of the Old Blue Plate, is Royale gone for good? I've seen "For Lease" signs up in their windows, and their social media has gone completely dark, so I have to imagine they're another casualty.

Coldrsx · #**2822** Posted **May 31, 2020, 4:30 PM**

They are dark, yes.

EdmTrekker · #**2823** Posted **May 31, 2020, 9:17 PM**

Quote:

Originally Posted by Hallsy's Toupee

Coming soon to the old Sears space at Southgate Mall

What is this mall Retail space Expansión or an entertainment venue?

CMD UW · #**2824** Posted **May 31, 2020, 9:26 PM**

Quote:

Originally Posted by EdmTrekker

What is this mall Retail space Expansión or an entertainment venue?

Retail expansion.

Hallsy's Toupee · #**2825** Posted **May 31, 2020, 10:17 PM**

Quote:

Originally Posted by CMD UW

Retail expansion.

And a much-needed replacement for a decrepit department store that catered mainly to senior citizens. I assume the renovations involve the basement plus the 2nd floor.

Due to this renovation at Southgate, the stores next to Sears and across from Apple are all closed, with Starbucks, Indigo/Chapters and DQ/Orange Julius moving to the food court or nearby. New Asian Village Express is now closed and hoarded up so I expect another fast food retailer soon. Safeway is still open. Not sure about George Richards.

Harrison · #**2826** Posted **Jun 1, 2020, 3:02 PM**

This looks like a huge expansion for Southgate, especially since that Sears was one of Canada's largest if I recall correctly.

mcc16 · #**2827** Posted **Jun 9, 2020, 3:25 PM**

https://www.westerninvestor.com/news...out-1.24148634

kcantor · #**2828** Posted **Jun 9, 2020, 4:15 PM**

Quote:

Originally Posted by mcc16

https://www.westerninvestor.com/news...out-1.24148634

“ South Edmonton Common now houses a large Ikea as well as...”.

now houses??? some two decades later???

s211 · #**2829** Posted **Jun 9, 2020, 4:26 PM**

Quote:

Originally Posted by kcantor

“ South Edmonton Common now houses a large Ikea as well as...”.

now houses??? some two decades later???

It reads like bad paid advertising, but without pitching a product.

mcc16 · #**2830** Posted **Jun 9, 2020, 11:14 PM**

Quote:

Originally Posted by s211

It reads like bad paid advertising, but without pitching a product.

This is literally the first time I’ve ever agreed with you lol.

I just thought the first rendering was neat. Also I completely read it wrong the first time...I though riocan AND morguard were both doing developments near mill woods station, but the latter is doing the Bonnie Doon one.

Harrison · #**2831** Posted **Jun 10, 2020, 8:08 PM**

The Starbucks locations on Whyte Ave / Calgary Trail and Empire Building (Jasper and 101) will be closing permanently.

ExcaliburKid · #**2832** Posted **Jun 29, 2020, 4:45 PM**

Tory Burch planning on opening a location at Premium Outlets (YEG)

CMD UW · #**2833** Posted **Jun 30, 2020, 8:50 PM**

Quote:

Originally Posted by Harrison

The Starbucks locations on Whyte Ave / Calgary Trail and Empire Building (Jasper and 101) will be closing permanently.

Part of their overall repositioning.

Hallsy's Toupee · #**2834** Posted **Jun 30, 2020, 9:05 PM**

Starbucks is still open in Commerce Place and in City Centre Mall. They were supposed to open in the Stantec tower and then the HSBC tower, but with this pandemic who knows?

s211 · #**2835** Posted **Jul 1, 2020, 2:33 PM**

I'm always surprised how many times developers can have projects default, the projects end up in the hands of lenders, and yet the developers always get a loan for their next project:

https://www.bloomberg.com/news/artic...-mired-in-debt

The pennies on the dollar that the lenders of Eaton Centre ended up with back in the day were pretty nominal, going from memory. Wasn't that Confed Life and 1-2 others?

The next while will make for interesting watching.

kcantor · #**2836** Posted **Jul 1, 2020, 3:57 PM**

Quote:

Originally Posted by s211

I'm always surprised how many times developers can have projects default, the projects end up in the hands of lenders, and yet the developers always get a loan for their next project:

https://www.bloomberg.com/news/artic...-mired-in-debt

The pennies on the dollar that the lenders of Eaton Centre ended up with back in the day were pretty nominal, going from memory. Wasn't that Confed Life and 1-2 others?

The next while will make for interesting watching.

that's because you're focusing on the exceptions to the rule, not the rule. the rule is that the vast majority of developer and landlord loans are repaid on a profitable basis to the lenders that made them. and every one of those loans had some risk/default failure premium built in to the interest rate charged to make up for the occasional - and the occasional spectacular - failure of a particular project. the commercial market is no different than the residential one but no one would look at the mortgage defaults resulting from personal bankruptcies and thank that banks are foolish in still underwriting residential mortgages.

s211 · #**2837** Posted **Jul 1, 2020, 5:05 PM**

Quote:

Originally Posted by kcantor

that's because you're focusing on the exceptions to the rule, not the rule. the rule is that the vast majority of developer and landlord loans are repaid on a profitable basis to the lenders that made them. and every one of those loans had some risk/default failure premium built in to the interest rate charged to make up for the occasional - and the occasional spectacular - failure of a particular project. the commercial market is no different than the residential one but no one would look at the mortgage defaults resulting from personal bankruptcies and thank that banks are foolish in still underwriting residential mortgages.

Understood. I've watched a few developers lose their shirts and go through bankruptcy more than once (the 80s and 90s made for good entertainment) and yet they always seem to bounce back. Good on them, I'd suppose.

Coldrsx · #**2838** Posted **Jul 1, 2020, 5:08 PM**

It is also one of the reasons why each development is done under a separate company.

Coldrsx · #**2839** Posted **Jul 1, 2020, 8:52 PM**

Bodega pantry now open next to Sabor Downtown.

https://twitter.com/chrisbuyze/statu...67372034760705

Harrison · #**2840** Posted **Jul 6, 2020, 9:32 PM**

Quote:

Originally Posted by Hallsy's Toupee

Starbucks is still open in Commerce Place and in City Centre Mall. They were supposed to open in the Stantec tower and then the HSBC tower, but with this pandemic who knows?

Stantec's location is still planned to open for November as far as I know (was originally planned for April, but then the pandemic happened).