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General Construction Updates

Electrical Storm said:
Currie is definitely still going ahead. Development has slowed down considerably since the downtrurn... keep in mind that the typical single detached home in Currie is well into the $800-900k to $2.0M range, so that market is certainly less resilient than it once was. Condominium projects like Ovation (Jayman), Axxess (Slokker), and The Armory (Cove Properties) seem to be doing ok as they wrap up. The Empire Homes townhouse project is currently selling and the asking prices are from $1.8M to just over $2.0M, so again sales are expected to be slow.

Canada Lands (due to its ownership) has the luxury of playing the long game, they'd rather do it right rather than compromising on their vision and slapping something together.
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I wonder when we'll start seeing some of the high rises going ahead.
 
The economy should do much better next year, so when the market picks up in the spring we will get a good indication. Calgary has a glut of condos right now with many more coming on the market soon, so I'm a bit skeptical of that market.
 
Electrical Storm said:
CMLC now owns the site that was slated to be the Marriott Club Sport.

My hope is that someone like BOSA picks it up from CMLC and they recreate something along the lines of Evolution in EV.
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CMLC bought it to orchestrate the realignment of the Green Line. It now runs underneath this parcel.
 
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Urb said:
CMLC bought it to orchestrate the realignment of the Green Line. It now runs underneath this parcel.
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Not sure what you mean by orchestrate the realignment? To help persuade the city to move the alignment to that spot?
 
AJX said:
Not sure what you mean by orchestrate the realignment? To help persuade the city to move the alignment to that spot?
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The opposite. The City asked CMLC to buy it. This solved the Ramsay problem.
 
Those cranes are probably for West Gateway

https://www.buzzbuzzhome.com/ca/gateway1
2017_02_27_10_57_30_trumanhomes_gateway_rendering.jpg



Meikkhaell said:
Hey guys, two questions.
1) I was waiting for my bus in the NW today and looked over at C.O.P. I noticed two cranes near there, perhaps behind it. Seemed pretty big too. I don't remember seeing them before. What project is that?
2) Is that whole Currie project still going on? What's the status of it? Haven't been down that area to see for myself but just curious with the downturn and stuff. This is what im talking about.
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Nimbus said:
Well that will definitely be a litmus test to see how retail development can do that close to the Drop In.
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Very true. I took a walk around East Village the other day with my wife and son, and we happened to walk past the Drop in Centre. It was surprisingly quiet, you would hardly know there was a drop in centre there.....could have been the time of day (~1:00pm)
 
MichaelS said:
A new restaurant for East Village, going in across from the Drop In Centre. Curious to see how it looks, and how it does in that location. Also looks to have some additional retail as well:

A stone's throw away! There is already so little pedestrian traffic along Dermot Baldwin Way. The 'visitor's, who won't be potential customers, at the Drop In Centre congregate there during the day and when weather permits. If the owner of the restaurant is depending on walk-by traffic from the Riverwalk, that is a risky play.
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MichaelS said:
A new restaurant for East Village, going in across from the Drop In Centre. Curious to see how it looks, and how it does in that location. Also looks to have some additional retail as well:
https://developmentmap.calgary.ca/#property/DP2017-5185
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Holy crap! I thought this lot would never be developed...or at the very least the last one to go.

10 Dermot Baldwin Way S.E. ...there's a reason this site has a tall chain link fence around it.
 
It should prove interesting. My thoughts are they’ll be OK. If it’s a regular sit down restaurant where you’re seated by a hostess they won’t have problems. A restaurant like Tim Hortons would be more of an issue I think, has anyone been in the new Tim Hortons in N3?
Nimbus said:
Well that will definitely be a litmus test to see how retail development can do that close to the Drop In.
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