Winnipeg | True North Square | 86.9M | 77.8M | 25F | 17F | 22F | 17F | 19F | U/C

[esquire]

The stadium, the convention centre... we had such high hopes for TIF as a mechanism to pay for these types of things. I guess the big question is whether the City has learned its lesson from all of this. Given how little we've heard about TIF in recent years, I'd say it probably has.

Maybe TIFs worked best when they were used to pay for modest streetscaping-type improvements instead of massive, big-ticket infrastructure projects.

That said, I would imagine there must still be a market for a new hotel downtown? Downtown Winnipeg really lacks a big, new, modern business and convention hotel. The ones we do have are all 70s vintage or older.

[BAKGUY]

So, do we believe or trust that Sutton Hotel will ever resume in this lifetime? Even just the hotel? Or is it a goner like 300 St Mary Ave and time to have it on the bidding block?The company is a very wealthy one but even their new Sandman Signature is taking forever.

[WinCitySparky]

I wanna know who the fuck is paying for 2 cranes to sit there doing nothing for what, 5 years now? Truly baffled.

[borkborkbork]

Originally Posted by WinCitySparky

I wanna know who the fuck is paying for 2 cranes to sit there doing nothing for what, 5 years now? Truly baffled.

Bob Gaglardi?

[WinCitySparky]

“Right mind” was probably the less literal answer I was looking for lol

But I also didn’t think billionaires became billionaires by bleeding millions letting equipment idle with seemingly no plan.

[bomberjet]

I would assume they own the cranes, so aren't paying someone else rent. But seems less than ideal for sure.

[1ajs]

Originally Posted by bomberjet

I would assume they own the cranes, so aren't paying someone else rent. But seems less than ideal for sure.

i think theyth ay rent been talked about befor

[blueandgoldguy]

Think of the cranes as a temporary art installation and it's all good.

[optimusREIM]

Originally Posted by blueandgoldguy

Think of the cranes as a temporary art installation and it's all good.

Just like the piles of rubble in front of the pumphouse a few years back.

[WinCitySparky]

Anyone hear anything about Sutton getting back going? Hotel Association just announced in an article about the Broadway Hyatt that hotel business is back above pre-pandemic levels. The incentive has to be there, so I should hope this won’t sit for too much longer.

[drew]

^ the issue now is probably construction costs more so than any hotel related business.

They should be kicking themselves they just didn't finish building way back at the start of covid. It's gonna cost them way more now. If it ever even goes ahead.

[WinCitySparky]

So disheartening

[The Jabroni]

That is frustrating and disappointing to hear. Utter sh*tshow from the start.

It will probably take another 5 years to actually get the project going again, and then another 5 years after that for full completion. By then, the arena is due to be replaced or major renos.

[borkborkbork]

Originally Posted by drew

They should be kicking themselves they just didn't finish building way back at the start of covid. It's gonna cost them way more now.

Problem is that the developer's business is mostly tourism (hotels, restaurants, ski resorts, sports arenas). They would have gotten absolutely hammered during covid.

[BAKGUY]

Originally Posted by WinCitySparky

Anyone hear anything about Sutton getting back going? Hotel Association just announced in an article about the Broadway Hyatt that hotel business is back above pre-pandemic levels. The incentive has to be there, so I should hope this won’t sit for too much longer.

I would not count on it ever restarting. The company that owns the project has never finished The 6 floor 222 room Sandman Signature hotel @ the airport which might be perceived as more lucrative.
I am usually optimistic but even the opportunity of the 2025 Grey Cup here is not swaying them whatsoever. They own all Denny's in Canada, Sandman Hotel all brands, Sutton Place Hotels, Chop Steakhouses, Shark Clubs etc..and yes hotel business is up and even better than national averages in Manitoba

[drew]

Originally Posted by borkborkbork

Problem is that the developer's business is mostly tourism (hotels, restaurants, ski resorts, sports arenas). They would have gotten absolutely hammered during covid.

Agreed - but if the intent is to build it eventually - it's going to cost double or more what they would have paid had the work continued on it's original schedule, and won't be ready for years past any recovery in the hotel industry.

That's bad asset planning and management IMO.

[zalf]

Skywalk construction plans:

[pspeid]

Originally Posted by drew

Agreed - but if the intent is to build it eventually - it's going to cost double or more what they would have paid had the work continued on it's original schedule, and won't be ready for years past any recovery in the hotel industry.

That's bad asset planning and management IMO.

Who knows what's happening behind the scenes? People have commented on how expensive it has been to keep the cranes on-site, so abandoning the project is hopefully not in the cards right now. Maybe they're looking for a partner to finish it or redesigning the building?

[WinCitySparky]

The square on a warm September night



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[wags_in_the_peg]

have u ever been there on a Sunday Salsa night, it's crazy busy!