The Fifth | 17m | 5s | Arlington Street | NORR

JonnyCanuck said:
This project is officially going rental. It is a sad state of our economy, that a condo project of only 48 units, in a prime location, can't get enough traction. ?
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Definitely disappointing to see the state of our housing market, hopefully the new Premier pushes to remove the mortgage stress rules from Alberta as promised. Still glad to see this one moving ahead with construction. Any timelines on when we can see this one break ground?
 
gsunnyg said:
Definitely disappointing to see the state of our housing market, hopefully the new Premier pushes to remove the mortgage stress rules from Alberta as promised. Still glad to see this one moving ahead with construction. Any timelines on when we can see this one break ground?
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Not sure when. It is going back out for tender again. Presumably for lower cost finishes.
 
Walked by this site today. The sales centre is closed and all the signage has been changed to say "One and Two Bedroom Rental Suites coming spring 2020". Not surprised to see this go rental and obviously no way it will be complete by spring but perhaps construction is closer than we thought.
 
I'm skeptical with anything that involves ASI after seeing how long it took the Windsor to finish up, but now that the Windsor is done and probably generating some revenue, it might help get this going.
 
I imagine there is some cash flow, as the retail is full with businesses already open. There will be even more when tenants begin moving in November 1.
 
I saw a 'for lease' sign on the property. Can we assume it is for the presentation centre? If so, it means the project has either been shelved or put on the back burner.
 
I would think the 'for lease' sign would be for the CRUs on the first floor of the development, no?
 
I saw a modular product on site when I walked by today with the branding of "QUBE" on it (attached photo, sorry the crap quality, I was in a rush
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JonnyCanuck said:
I may have missed it but it did not look like a sign promoting the spaces in the new building. There is nothing going on with that site. The presentation centre is closed. There is graffiti on the walls facing 17 Ave. It looks derelict.
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Yep. Waves could have continued to bring life to that corner for what I expect to be several years based on Arlington's track record.
 
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