Winnipeg | 300 Main St.- Phase II / 360 Main St. | ~142M | 465 Ft | 42F | U/C

[bomberjet]

Overall the layouts seem fine to me. Generally the suites are square. Some of them have the funny angled walls due to the reason Drew mentioned. I guess the rents compared to other buildings are the issue. If people want to pay those rents, or they lower the rents, whatever.

[Coldrsx]

Originally Posted by drew

I am not sure why there is such angst on this project.

It's a rental. Pricing will be adjusted as necessary to fill the building. I don't see any issue there. It's just a longer pay back period for the owner, but doesn't affect anyone else.

As to the suite layouts, we have to keep in mind that the foundation and column locations were set and the floor plans based around that. Also keep in mind, those column locations are based on an shorter, fatter office building and not the taller slender residential building that was constructed. Perhaps they did the best with what was allowed given these constraints.

Either way, it's not something for anyone but the owner to lose sleep over.

Bingo.

I've been watching this project to see how things go vis a vis a similar type of tower in Edmonton in Augustana which was top of market and only seeing momentum 16-20months after completion.

[WinCitySparky]

Originally Posted by drew

I am not sure why there is such angst on this project.

It's a rental. Pricing will be adjusted as necessary to fill the building. I don't see any issue there. It's just a longer pay back period for the owner, but doesn't affect anyone else.

As to the suite layouts, we have to keep in mind that the foundation and column locations were set and the floor plans based around that. Also keep in mind, those column locations are based on an shorter, fatter office building and not the taller slender residential building that was constructed. Perhaps they did the best with what was allowed given these constraints.

Either way, it's not something for anyone but the owner to lose sleep over.

What kind of forum would we be without some fabricated angst?

[Biff]

You know what gives me angst? The word angst. Seems like it is spelled wrong or needs another vowel or something.

[OTA in Winnipeg]

Originally Posted by 1ajs

what ae the rents anyways?

1 bedrooms start at $1595.00 2 bedrooms start at $2285.00.

https://300main.ca/

[esquire]

I get that the developers don't need our sympathy. But it is a bad sign when a large proportion of recent downtown residential developments have crashed and burned so spectacularly in different ways (dCondo, 300 Main and the granddaddy of them all, Skycity).

It doesn't bode well for the future of the market.

[drew]

Originally Posted by esquire

I get that the developers don't need our sympathy. But it is a bad sign when a large proportion of recent downtown residential developments have crashed and burned so spectacularly in different ways (dCondo, 300 Main and the granddaddy of them all, Skycity).

It doesn't bode well for the future of the market.

Dcondo - large scale project from a small project developer. They were in way over their heads. Nothing to do with local market conditions.

SkyCity - that was a scam of monorail proportions. Nothing to do with local market conditions.

300 Main - the building isn't even finished yet! Come back from the ledge you guys!

[bomberjet]

300 Main is rental. Haven't the other rental buildings done very well? They're mostly full IIRC.

[Kris22]

Originally Posted by trueviking

i doubt they know something every other residential develop in the city doesn't. In my opinion, when you are trying to sell a high volume of residential units, you should make a product that has been proven to be desirable to a high number of renters.

Isn't 300 Assiniboine also large one and two bedrooms, just like these suites? Do we know how well that building faired?

[BAKGUY]

Originally Posted by Kris22

Isn't 300 Assiniboine also large one and two bedrooms, just like these suites? Do we know how well that building faired?

From what I know, it has been a little slow but steady.
I have had a few clients who live there as well as a few acquaintances.
One moved to 390 down the street.

I can tell you that I am in a 2 bedroom (1 bedroom + Den) 1400+ ft2 and in another area of the city I have 2 relations and a couple friends in nearly 1500 ft2 and 1300 ft2 respectively. so not everyone enjoys living in a squished closet.
To each their own. And yes, these are 70's buildings renovated.
We shall see what happens with 300 Main but perhaps more hope, positivity and less gloom & doom might be a good thing. Developers read these messages.Sends some packing for future investments.
Pessimism is & has always been huge in Whiny-peg.
I recall my grandfather telling me that as a kid & how that was always a major reason Winnipeg did not see much growth for decades. I have lived here all my life and anytime I am positive about my city I get shot down or jeered but I am resilient. .
I recall hearing how Canada Life Centre will be a colossal failure before it opened.

[zalf]

A friend of mine lives in 1 Evergreen. I think it's like 1000 ft^2, 1 bed 2 bath. So there is precedent in the city for these layouts.

[BAKGUY]

Originally Posted by zalf

A friend of mine lives in 1 Evergreen. I think it's like 1000 ft^2, 1 bed 2 bath. So there is precedent in the city for these layouts.

2 bedroom is near 1200 ft2 & 2 bath

[trueviking]

300 Assiniboine took forever to lease. Still not sure if it’s full.

I do this work every single day and have a very good idea of what the market wants. There may be other buildings with some odd suites like this but when you are dropping 400 units on a down market it is a bizarre choice to not build what sells best. Maybe they are smarter than everyone else and they know that the 900 sf one bedroom market is an untapped resource but to me it’s a massive risk.

All new buildings with large suites have taken forever to lease/sell. Never mind large suites with weird bedroom ratios. Not only does it take longer to lease, big units aren’t as profitable. 900 sf leased for less per square foot than 600 sf. But that’s their problem.

[roccerfeller]

Originally Posted by trueviking

300 Assiniboine took forever to lease. Still not sure if it’s full.

I do this work every single day and have a very good idea of what the market wants. There may be other buildings with some odd suites like this but when you are dropping 400 units on a down market it is a bizarre choice to not build what sells best. Maybe they are smarter than everyone else and they know that the 900 sf one bedroom market is an untapped resource but to me it’s a massive risk.

All new buildings with large suites have taken forever to lease/sell. Never mind large suites with weird bedroom ratios. Not only does it take longer to lease, big units aren’t as profitable. 900 sf leased for less per square foot than 600 sf. But that’s their problem.

Sounds like they need to build another new tallest to test that theory

[Boreal]

Originally Posted by roccerfeller

Sounds like they need to build another new tallest to test that theory

Maybe 2 more. Have a control project and all, just to get the findings right.

[pegcityboy]

Leaving Jets game looked like about 10-15 suites had lights on , the west side of the building is all i saw .

[harls]

Originally Posted by Biff

You know what gives me angst? The word angst. Seems like it is spelled wrong or needs another vowel or something.

This could be the perfect wordle.

[optimusREIM]

Originally Posted by harls

This could be the perfect wordle.

That would be very sheisty of them

[BuildUpWpg]

The sidewalk on the Main Street side is temporarily covered again. I wonder what they are up to now? Also now that I'm working downtown again, I noticed that fins get worked on maybe one day a month.

[BuildUpWpg]

The sidewalk on the Main Street side is temporarily covered again. I wonder what they are up to now? Also now that I'm working downtown again, I noticed that fins get worked on maybe one day a month.