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I've got a project adjacent to the DIC so I'm down there weekly and it's really not a great situation within a 1-2 block radius of the facility. One of the construction workers was attacked recently, there are regular overdoses, multiple instances of human shit being flung about, and the common...

The DP is for renovation/alteration. Hopefully they don't mess up the building too badly - it's one of the nicer examples of midcentury commercial in the city!

A combination of elevated regulatory risk and (somewhat irrational) negative investor sentiment. If you want an example of this - check the divergence in valuations between Canadian E&Ps and US based operators over the last five or so years. As Keynes said, markets can remain irrational longer...

Very nice - although I feel like they could have installed them in early or mid May to get some more bang for buck.

This is incorrect - in fact we've seen many (if not most?) of the major international players exit Alberta over the last 5 or so years leaving the industry more locally managed than likely anytime in its history. The 'decline' of oil and gas narrative is a fantasy ignorant of the fact that oil...

It's a temporary use so they have to re-apply for the DP every couple of years, which is why you're seeing it on DMAP.

Meh, those 3rd Avenue bike lanes are not a big loss - I bike them regularly and I've never seen them busy other than when the river path was closed - and the river pathway is a far superior alternative. The interface through Chinatown and connection back to the pathway at the east end is awkward...

People are proud Albertans, nothing wrong with that - this is a great province! To most people in Toronto, Ontario = Canada so that's why they don't think of themselves as Ontarians.

Usually they will offer a significant premium over market to skip the expropriation process.

Don't worry - these folks are going to be compensated very well. I wish my property would get expropriated!

I knew this was a prime site! Shermanator is not going to be happy...lol. I have to agree with you - that massing is likely intended as an initial negotiating position that they will likely peel back to show some concessions to the community.

The project is dead and the site is for sale.

Why? There's no change in width from the current alley, which seems to be working fine - and the applicant is paving everything and putting in a sidewalk with rolled curb that will functionally increase the width of the lane for passing traffic. Not sure I buy the concern.

I thought id engage my inner CBB and do a bit of an update on the ongoing 17h Avenue streetscape project! Here's the new portion of sidewalk they poured between 2nd and 4th Street. As you can see, it is standard broom finish concrete and doesn't match the colour/pattern of the completed blocks...

Or better yet - get rid of the ridiculous 30 zones alltogether!

'Crisis' is overly dramatic, but yes the market is hot right now for both rental and purchase. Don't forget that rental rates in Calgary were essentially flat from 2015 to 2021, so even with the major increases in the last year or so we are still not at inflation adjusted parity with 2014...

Great timing - I biked 26th from Bankview to Killarney about 3 times this past weekend and was thinking the bike lanes could use a refresh. As a biker who doesn't live on 26th I prefer option 2, however I think removing all on-street parking is going to be brutal for the people living on 26th...

Deal is structured as a long term lease, bruh. https://www.calgary.ca/content/dam/www/pda/pd/documents/event-center-update-presentation.pdf

Ooof, not sure this guy's business diploma included any finance classes. 😂 If there was a clause guaranteeing the City a certain % of the building's revenue, I can guarantee you the same people would be squealing about how the City shouldn't be exposed to any business risk!

Why would the lease escalator have any bearing on an analysis of the deal? They could have done a flat lease with zero escalator, or increases every five years, or any multitude of lease structures! What matters is the discount rate used in coming up with the NPV of the deal, which is a matter...