Winnipeg Construction X - Page 248

bomberjet · #**4941** Posted **Apr 29, 2021, 11:09 PM**

All of said parking lots have been beat up pretty good by the good folks of SSP for years now. haha Especially the Calvary Temple shenanigans.

But the only real prospect of parking lot development are those held in private hands. Such as we know WCB will not be relinquishing their parking lots any time soon.

The Forks with a sea of parking is being driven by market conditions and developed into housing.

Hopefully than can spur the parking lots on Main St to be developed once Earl's moves out. And so on.

Ando · #**4942** Posted **Apr 30, 2021, 6:18 PM**

Quote:

Originally Posted by trueviking

The city looked into a parking lot tax but it requires provincial approval and we all know how that goes.

Yes, unfortunately that is the key for this and a lot of related developments, such as rapid transit development. The city isn’t the top of mind for the governing rural provincial caucus, despite the fact it is the economic engine of the province.

BKB · #**4943** Posted **Apr 30, 2021, 6:35 PM**

Quote:

Originally Posted by bomberjet

I was by HSC today and there is a redish brick building adding floors to the top. McDermot and Furby. Can't remember what was going on with that one.

Looks like at least 2 floors being added. Steel frame with some kind of pre-fab wood floor system.

The local company creates software for police record management systems across North America.

EndoftheBeginning · #**4944** Posted **May 1, 2021, 11:11 PM**

1465 Corydon (at Queenston) commercial development

835 Notre Dame (at Tecumseh) apartment proposal

trueviking · #**4945** Posted **May 2, 2021, 1:22 AM**

A+ to both.

Neither set behind a parking lot. Excellent.

EdwardTH · #**4946** Posted **May 2, 2021, 1:31 AM**

Quote:

Originally Posted by Labroco

Well they turned down our large cash offer...

I believe it has been sold as a parking lot to a very large institutional investor. They need the parking for their own buildings. That lot is not going anywhere anytime soon. Tax them all you want the rates will just rise.

And who's going to pay them? Most companies are projecting around 40% of people continuing to work from home post-covid. Some companies are switching to work from home permanently and ditching the office entirely. How much revenue have those lots been bringing in for the last 13 months? Downtown is going to be wildly over-supplied with parking for years to come. Those lots aren't going to be the meal ticket they once were.

Labroco · #**4947** Posted **May 2, 2021, 2:38 AM**

Quote:

Originally Posted by EdwardTH

And who's going to pay them? Most companies are projecting around 40% of people continuing to work from home post-covid. Some companies are switching to work from home permanently and ditching the office entirely. How much revenue have those lots been bringing in for the last 13 months? Downtown is going to be wildly over-supplied with parking for years to come. Those lots aren't going to be the meal ticket they once were.

I believe it has been purchased / is being purchased by a billion dollar company that needs it and is making a strategic long term purchase. Parking for the foreseeable future.The cash flow is of no consequence. ( I’m not 100% but quiet confident).

anthonyk · #**4948** Posted **May 2, 2021, 2:40 AM**

DavefromSt.Vital · #**4949** Posted **May 2, 2021, 3:54 AM**

The former Best Western Plus Charter House is no longer on the Best Western website. They still do have their own website though. There is an image of the hotel with no signage with the caption "Big News Coming Soon!".

http://www.bwdowntownwinnipeg.com/

Anyone with info?

BAKGUY · #**4950** Posted **May 2, 2021, 4:38 PM**

Quote:

Originally Posted by DavefromSt.Vital

The former Best Western Plus Charter House is no longer on the Best Western website. They still do have their own website though. There is an image of the hotel with no signage with the caption "Big News Coming Soon!".

http://www.bwdowntownwinnipeg.com/

Anyone with info?

I have been hearing either a large addition on the Donald side or.. a complete demo and then a new build approx.. 15 - 20 floors.

1ajs · #**4951** Posted **May 2, 2021, 7:59 PM**

is that a drone shot anthonyk

anthonyk · #**4952** Posted **May 2, 2021, 9:54 PM**

Quote:

Originally Posted by 1ajs

is that a drone shot anthonyk

Yes, I was inspecting a building in the area and decided to take a couple personal photos while I was up there.

Brizzy82 · #**4953** Posted **May 2, 2021, 10:59 PM**

Cool shot Anthony

robertocarlos · #**4954** Posted **May 3, 2021, 12:18 AM**

The Best Western signs were taken down last week. With those two parking lots they could build a rather large building or an addition. The nice outdoor swimming pool is still there; it just needs to be emptied of old rebar, concrete, and dirt.

bomberjet · #**4955** Posted **May 3, 2021, 3:28 AM**

Didn't that BW do a bunch of reno's recently? Could there removal from the website have to do with franchising? As in the franchisee is no longer paying to be a Best Western.

I also doubt we'll see any sort of major expansion to that hotel in the next while.

trueviking · #**4956** Posted **May 3, 2021, 5:11 AM**

Quote:

Originally Posted by Labroco

I’m suggesting that the “City” payed close to $8,000,000 to acquire the site, did without years of realty tax and incurred carrying costs for a number of years putting its real cost very close to $10,000,000.

If it was sold for $2,800,000 dollars someone ate the difference. That is what the subsidized cost to offer it to a developer for 2.8. vs them buying it from the original owner and ending up in the same spot. If there was no development agreement attached to the site it would be worth even more. This site would not be available today if the “City” did not subsidize this 2.8M opportunity.

That is why I refer to it as subsidized.

(I believe my purchase price number is accurate but may be corrected)

I was also told by CV there was no VTB and cash has changed hands. I have not searched title or reviewed the development agreement so will accept that comment at face value.

That’s not what subsided means.

The city bought a business and property with the goal of closing the business. Sold a vacant building at market value. You claimed it is a government subsidized development. No developer received a subsidy.

I hadn’t heard the sky city site had been sold. I heard last week it wasn’t. Must be a fairly new development. A shame if it is going to someone with no intent to build. Demonstrates the importance of city properties coming with development agreements.

I don’t begrudge anyone who owns a parking lot. It’s a cash cow. I just think we should do what other cities have and make it not so lucrative, to nudge development and dissuade demolition. If it drives up parking costs, that’s ok. Good things can come from that too.

Province is definitely the number one recipient of my scorn when it comes to parking lots.

esquire · #**4957** Posted **May 3, 2021, 12:00 PM**

Speaking of hotels, I drove up Route 90 yesterday and I was surprised to see elevator shafts standing behind the U-Haul mini-storage near Silver Avenue. It's for the Wyndham Garden hotel on the Long Plain urban reserve site that was discussed here previously.

I recall mention of the area residents challenging it at City Hall so I figured it would be bogged down for a while, but it looks like construction is moving right along.

From a quick glance it looked like the shafts were laid out in a way that is consistent with the rendering, so it looks like the curved shape is still a go.

Labroco · #**4958** Posted **May 3, 2021, 9:03 PM**

Quote:

Originally Posted by trueviking

That’s not what subsided means.

Subsides

1) become less intense, violent or severe.

2) lapses into silence or inactivity

I think you meant to say subsidize...

A sum of money granted by the government or a public body to assist a business or industry so that the price of a commodity ( St Regis Land) may remain low or COMPETITIVE...

The city bought a business and property with the goal of closing the business. Sold a vacant building at market value. You claimed it is a government subsidized development. No developer received a subsidy.

They did not receive a subsidy but the parcel sold was SUBSIDIZED. The opportunity in this location at that price would not have happened if the site was not subsidized...

I hadn’t heard the sky city site had been sold. I heard last week it wasn’t. Must be a fairly new development. A shame if it is going to someone with no intent to build. Demonstrates the importance of city properties coming with development agreements.

If the sale did not close the receiver is being very difficult or has some behind the curtain legal challenges still. Let’s see what happens in the next 60 days. I know they need it!

I don’t begrudge anyone who owns a parking lot. It’s a cash cow. I just think we should do what other cities have and make it not so lucrative, to nudge development and dissuade demolition. If it drives up parking costs, that’s ok. Good things can come from that too.

Parking lots are not cash cows rather they provide a consistent cash flow without the issue of a depreciating asset (a building).

On a somewhat separate note, I have been giving the parking lot issue some more thought and will post my proposal and ideas on how to move forward in a more equitable way to obtain an urban environment we all speak of. Some may even embrace these initiatives. Please ensure to include me in future foot notes though...

Province is definitely the number one recipient of my scorn when it comes to parking lots.

...

Spocket · #**4959** Posted **May 3, 2021, 11:20 PM**

Quote:

Originally Posted by BAKGUY

I have been hearing either a large addition on the Donald side or.. a complete demo and then a new build approx.. 15 - 20 floors.

Really? Wow. That's a shock considering anybody would even be contemplating such a thing in this market. I know it's only "temporary" but without any good idea of what business will be like once the pandemic is reined in, I'd think it would be a pretty dicey gamble.

Boreal · #**4960** Posted **May 4, 2021, 12:45 AM**

The Polo Park area has a real opportunity on all sides of the mall to look cleaned up in the not too distant future. All parties involved appear to be a doing a fine job making the space rather nice and functional, if perhaps not an urban utopia. This could all end up as a sizable win for the city if the residential components all pan out.