Stampede Station | 277.3m | 70s | Truman | NORR

Sorry I didn’t mean to start a pessimistic tangent, just feeling a bit of deja vu from past booms. Hope I’m wrong though. This is super exciting to see a possible super tall, or new tallest in any case. Just curious about other’s opinions. So far Truman has built faster and more efficiently than any other developer in the city so hopefully they pull this off as well.
 
CalgaryTiger said:
Don't Truman own a lot (all) of what they develop, can't that be liquidated to help with any cash flow?
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Truman have a lot of condos that are sold and they have no involvement after. A lot of what they are building are rentals that they do manage, so they definitely have a large portfolio they could sell if they need to raise capital.
 
One of my concerns with Truman's recent builds is the promise of a guaranteed rental income for people who bought the units in Gallery, Imperia and Lincoln. I don't know what the numbers are, but they were sold as units where Truman would guarantee a certain amount of revenue. If the rental market goes soft and prices go down, it could have a cash flow effect.
 
Surrealplaces said:
One of my concerns with Truman's recent builds is the promise of a guaranteed rental income for people who bought the units in Gallery, Imperia and Lincoln. I don't know what the numbers are, but they were sold as units where Truman would guarantee a certain amount of revenue. If the rental market goes soft and prices go down, it could have a cash flow effect.
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If you want a current example, Frontier has the same rental guarantee. Obviously it only recently opened, but high vacancies.

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trtcttc said:
If you want a current example, Frontier has the same rental guarantee. Obviously it only recently opened, but high vacancies.

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Looks like they have 25 units available, which sounds like a lot, but it's a big building - 226 units.
 
Surrealplaces said:
A few of us from SSP and some media folks looked at the Brookfield plans when they were first released and it was 246.9m. There was also another earlier design I saw, but wasn't public at the time and before being submitted as a DP. It was still taller than the Bow, but had one or two floors less than the current Brookfield Place. The earlier design may have been 239m, but I'm only going by memory.
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The drawing I saw was from the working drawings.

Telus Sky is taller than Brookfield Place by floor count and both of these proposed towers would be the tallest by floor count. Development media releases often interchange floor count with actual height. Tallest is a selling point. I'm leaning more towards these both being taller than Brookfield by number of metres than just floor count with supertall being mentioned

Rent guaranteed is shady but I don't hold it against Truman. They sold out large developments with the condo market in bad shape. Already mentioned that investors lured in with the ability to put units in a hotel pool being screwed paying commercial taxes on a commercial condo unit. There are more investor unaware of this possible situation that will see dollar bills with the rental pool arrangement. To get to the point, this development is mixed use. There's no near supertall with just a hotel. I would guess Truman and partner is not retaining ownership of the hotels and Marriott owns hotels but, a small percentage of their managed properties. Another hurdle which may not have been crossed yet.
 
Truman has said BOTH towers will be taller (not floor count) than our current tallest, Brookfield.

Saying things like Telus Sky is taller by floor count is just confusing for no reason. You could say Telus Sky has a higher floor count, but when people hear "taller" they are thinking in meters and feet.
 
maestro said:
The drawing I saw was from the working drawings.

Telus Sky is taller than Brookfield Place by floor count and both of these proposed towers would be the tallest by floor count. Development media releases often interchange floor count with actual height. Tallest is a selling point. I'm leaning more towards these both being taller than Brookfield by number of metres than just floor count with supertall being mentioned

Rent guaranteed is shady but I don't hold it against Truman. They sold out large developments with the condo market in bad shape. Already mentioned that investors lured in with the ability to put units in a hotel pool being screwed paying commercial taxes on a commercial condo unit. There are more investor unaware of this possible situation that will see dollar bills with the rental pool arrangement. To get to the point, this development is mixed use. There's no near supertall with just a hotel. I would guess Truman and partner is not retaining ownership of the hotels and Marriott owns hotels but, a small percentage of their managed properties. Another hurdle which may not have been crossed yet.
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I have heard from someone in the know that the tallest tower height is pretty close to the 270m listed here, but could change slightly, "give or take a couple of meters".

If indeed the shorter tower is taller in height than Brookfield Place, than we are easily looking at 900' Whatever it ends up being, it won't likely be a supertall, but it'll be up there.
 
Mountain Man said:
Truman have a lot of condos that are sold and they have no involvement after. A lot of what they are building are rentals that they do manage, so they definitely have a large portfolio they could sell if they need to raise capital.
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They also own a lot of land! In addition they own quite a few companies that they use on their projects as well as unrelated companies like liqueur stores and others.
 
Who could have seen this coming? Seriously. I mean we all knew Truman had a big proposal being designed in the background, but who could have expected we were about to get two new tallest towers, with some of the highest architectural design and material quality in the entire prairies, other than Telus Sky.

Remember this time last year when we were lamenting how few towers we had both under construction and proposed? Then a week later we got a start, then 6 more over the coming months, and then Broadway, Marc and Mada, this, and im sure im forgetting other proposals. But yeah, wow. The tables have certainly turned in the correct way.
 
It makes you think, between the tower construction, increasing population (statscan thread), and some of the economic things happening (Calgary and Alberta economy thread) and the early days of a federal government "build" initiative that to spite the complete weirdness happening at the Provincial level (Provincial politics thread) we're still powering through all that and there's some significance to what's happening in Calgary. I mean heck we actually have an arena and Green Line under construction. I'll know things are going really well here if there starts to be whispers of an actual stadium for our city.
 
UrbanWarrior said:
Who could have seen this coming? Seriously. I mean we all knew Truman had a big proposal being designed in the background, but who could have expected we were about to get two new tallest towers, with some of the highest architectural design and material quality in the entire prairies, other than Telus Sky.

Remember this time last year when we were lamenting how few towers we had both under construction and proposed? Then a week later we got a start, then 6 more over the coming months, and then Broadway, Marc and Mada, this, and im sure im forgetting other proposals. But yeah, wow. The tables have certainly turned in the correct way.
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highest architectural design and material quality
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This we do not know yet.
 
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