The Royal | 114.9m | 34s | Embassy Bosa | Abugov Kaspar

General rating for this project

  • Great

    Votes: 23 33.8%

  • Very Good

    Votes: 33 48.5%

  • Good

    Votes: 9 13.2%

  • So So

    Votes: 3 4.4%

  • Not Very Good

    Votes: 0 0.0%

  • Terrible

    Votes: 0 0.0%
  • Total voters
    68
Corporate speak all the way. It reads as either damage control or not having any clue about the situation.
 
I spoke with The Royal sales lady, and she mentioned that Canadian tire had been pulled out and they were looking to switch to a bunch of smaller stores (they don't know what yet). She mentioned podium completion summer 2018, tower topping off January 2018, and move ins Fall 2018. Ambitious timeline, but maybe she was just selling...
 
Cruddy news. :( Has there been any explanation for Canadian Tire pulling out? Downtown could really use an urban format hardware store like that.
 
I wouldn't think too many retailers would be looking to expand their Calgary presence given the poor economy. Disposable incomes have dropped significantly.
 
DougB said:
I wouldn't think too many retailers would be looking to expand their Calgary presence given the poor economy. Disposable incomes have dropped significantly.
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Has dropped significantly? I had heard that disposable income had dropped but was holding up surprisingly well considering.
 
I had heard that the median income had risen in Calgary recently and have been trying to find a new link to it. Those stats are from 2015. I'm not sure if 2016 is much better but 2017 has been on the rise.
 
BKha said:
I had heard that the median income had risen in Calgary recently and have been trying to find a new link to it. Those stats are from 2015. I'm not sure if 2016 is much better but 2017 has been on the rise.
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I was also wondering about the timeliness of the information of that like. And even though it undoubtedly shows a steep decline, it is impossible not to notice that the regional medians remain well above that national one.
 
Not sure disposable income would be the issue here. Cgy's starting to look extremely affordable versus TO/Van where median 1 bedroom rents are ~double Cgy. From my experience, most people outside O&G are still seeing bump ups in pay too. Too bad about CT opting out - that area is becoming very dense though, sure we'll see moderate interest from other national tenants.

http://blog.padmapper.com/canadian-rent-trends
 
Yeah, I suspect that once the space is built they will get it filled eventually whether it's one big tenant or a few other tenants combined I'm not sure but it will no doubt get filled eventually.
Spring2008 said:
Not sure disposable income would be the issue here. Cgy's starting to look extremely affordable versus TO/Van where median 1 bedroom rents are ~double Cgy. From my experience, most people outside O&G are still seeing bump ups in pay too. Too bad about CT opting out - that area is becoming very dense though, sure we'll see moderate interest from other national tenants.

http://blog.padmapper.com/canadian-rent-trends
Click to expand...
 
There's reason to be if not optimistic then at least not pessimistic either. Still I think CT would have been a great addition to downtown Calgary.
 
One thing to consider are how few tenants there are than need those space requirements. Grocery is out of the question. Health club and electronics store is out. What's left? Can't be more than a dozen retail outlets. Dividing the space has its issues too with it being on the second floor and access shifted to one side of the complex. I'm sure it will eventually gets leased. It will probably take some time.
 
Always_Biking said:
Too bad Target wasn't still around. It would nice location for an urban format Target.
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A late 19th century garment factory would be perfect for the area too. Great access to local retail markets, a dense and diverse workforce nearby, plus they would employ several times the workforce of a Target or Canadian Tire.

Economics being what they are results in both Target and 19th century garment factories as unlikely options, as cool as the latter would be. If the lease wasn't so expensive I would love to see it turn into a collective retail interior kind of like the Devenish Building next door or any number of farmers markets. Sub-divide that floor into a weird collection of mini-stalls/stores in an open concept environment. Could be cool
 
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