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Calgary's Downtown Dilemma

BH would be a fantastic spot to put residential in location wise, although I feel it is a massive pipe dream. Those towers have such little vacancy and are one of few office spaces that seem to lease up relatively easily. I could see another large tenant occupying the CNRL space shortly after their departure.

Leasing link for anyone curious.
 
BH would be a fantastic spot to put residential in location wise, although I feel it is a massive pipe dream. Those towers have such little vacancy and are one of few office spaces that seem to lease up relatively easily. I could see another large tenant occupying the CNRL space shortly after their departure.

Leasing link for anyone curious.
Wouldn't the floorplates be way too big to work as resi?

Bankers is still probably one of the more desirable office addresses in the city.
 
I'd imagine that it will free up space to enable another large move in 2027-28.

Who hasn't moved (or renewed) recently? The two parts of TC Energy?
I don’t think timeline will work for TC Liquids (South Bow) as they likely need space mid-2024. Once Liquids moves, I imagine TC Remain Co consolidates floors and renos a few floors at a time.

I’ve heard Deloitte may be moving to BH.
 
Western Canadian Place (Husky) would be perfect as it’s also right next to an enormous expanse of surface lots.
 
I didn't know they already had a facility. Looks like it was opened in 2020, and are moving. It's funny how the article makes it look like this is something new. lol.

Any idea why the move? Needing more space, or needing less?
The space they were in was likely a mistake. Hard to renovate and too small with not enough circulation capacity. The space also likely only had a five year lease, and with the Bow filling up, perhaps someone finally needed it again.

I think the School also had a leadership change. Their ‘Chief Digital Catalyst’ seems to have shifted from a leadership role at the school to an institution wide resource. Sometimes leadership changes like that happen when projects stall out or are heading in a different direction than the donor and funding agreement require.

If I was the SAIT board of directors I’d also be interested in consolidating into a single building that maybe if the opportunity came my facilities department could buy.
 
The space they were in was likely a mistake. Hard to renovate and too small with not enough circulation capacity. The space also likely only had a five year lease, and with the Bow filling up, perhaps someone finally needed it again.


If I was the SAIT board of directors I’d also be interested in consolidating into a single building that maybe if the opportunity came my facilities department could buy.
That makes sense. The old building floor plates were ~7K, and the new building the floor plates are ~26K. It gives them much more continuous space, plus much more room to expand in the future. Especially if you want to add another program later on and like you said, a much easier building to renovate. I've only been in the old building a couple of times, but I remember it feeling cramped and compartmented.
 
I haven't heard any rumors, but what is the likelihood that a new first run movie theater gets built downtown? I thought about this, as Eau Claire is done.

DT and Beltline will likely hit 60K population soon, so it could be supported. Add in Bridgeland and Kensington (close to train) as a bonus and it's getting to 70K I would imagine that most people in those communities have gone to other theaters that are nicer than Eau Claire has become for years. I know that living in Kensington, I rarely do Eau Claire and opt for a more modern facility.

A theater of 5 or so screens could bring 1000 people onto Stephen Ave almost every evening/night, creating a increased feeling of safety and also delivering more customers to bars and restaurants and making them viable into later evening instead of closing early.

I generally don't like government subsidies for private business, but given how much is being given out currently to revitalize DT, I feel like this could be a good "investment". We are dropping $150M to get an extra 2300 units and perhaps 3500 people downtown. On average, I suspect perhaps 600 of those people may be out providing street life in the evening and that's optimistic. If we offered say $5M to a theater company (Cineplex or Landmark) that could bring an extra 600 people, that seems like a good use of funds to me.
 

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