Oliver | 121.3m | 35s | Centron | Gibbs Gage

[Da_Master]

Some bad news here, crane is being taken apart, pictures taken a few hours ago::

It seems that plans for this project are pretty obvious for the time being.

 

[Surrealplaces]

Yup, looks like it'll be on ice for a while.

 

[maestro]

It was expected. No loss.

 

[Alex_YYC]

That's too bad, but I don't think anyone was surprised. With below grade complete, it should get built sometime, just a matter of how long.

 

[maestro]

Hopefully not as long as FCC2. There are a few others lingering around from that era too. I guess what I'm saying is having the below grade completed has an expiry date.

 

[UrbanWarrior]

This one is unique in Calgary though, in that the structure of the first floor lobby and retail is complete as well. Most of them cap off at ground level.

 

[maestro]

Nothing that can't be easily demolished. Expect plans to change the longer it sits.

 

[Operater]

Hi Group,
Sorry to See this Site get put on Ice. I had a lot of Faith in this Project really, with a Plus 15 as part of the Project it was a Future Step for Access to Projects South of the
C.P. Tracks and Making the Downtown areas an Extension from 9th Ave through to 11th/12th Ave. S. W. Lets Hope Things pick Up in a Hurray. I will B most Interested
to see where Centron goes Developement Wise,

Tnx,
Operater,

 

[Beltline_B]

FCC2 probably would've gone ahead in some form or another, but the problem is the footprint is so small that it's very limited.
Because of the large parking garage and floorplate Place 10 probably has a decent chance of getting built later on.

Hopefully not as long as FCC2. There are a few others lingering around from that era too. I guess what I'm saying is having the below grade completed has an expiry date.

 

[maestro]

FCC2 footprint isn't that small. The site can accommodate a more conventional floor plan. It's going to be a long while for the vacancy rate to reach a point where office construction makes sense. It will take some time for the energy sector to forget this and go back to their free spending ways if they ever do. I doubt Centron is in that good of a shape to wait. They built pretty large for the size of company during this boom. It wouldn't surprise me if they put this on the market. Condos aren't selling. Rentals are hot. They are also speculative.

 

[Always_Biking]

http://www.calgaryherald.com/vacant...canada+capital+shake+soon/13447225/story.html

Another landlord, Centron Group, paused construction of an office tower just outside downtown on 10th St. and is considering redesigning the building to house condos.

 

[Surrealplaces]

Redesigning for residential is the best bet, even if residential market is slow. Office market is a long ways a way until recovery.

 

[UrbanWarrior]

That would be awesome. I'd love to see a wide, thin residential building go up in Calgary! Another block along the tracks covered up

 

[maestro]

Redesigning for residential is the best bet, even if residential market is slow. Office market is a long ways a way until recovery.

The problem is they have to go big. It's going to be a very hard sell. I agree. It's they're best option to get out of this. To repeat. I doubt they are in a good position to sit and wait. The other option is to sell the site but , it will probably come with a sizable loss. Chances are that is what will happen

 

[darwink]

The problem is they have to go big. It's going to be a very hard sell. I agree. It's they're best option to get out of this. To repeat. I doubt they are in a good position to sit and wait. The other option is to sell the site but , it will probably come with a sizable loss. Chances are that is what will happen

285 units if you use the as built parking with a 0.8 ratio. Of course, could up that with parking above grade with some redesign.