General Construction Updates

[CBBarnett]

It's difficult to separate my political ideas from my valuation of these projects. In so many way NMC represents community, philanthropy, risk-taking, creativity, and I can't think of Rogers Place without thinking of Katz's threat to move the team, corporate welfare, stadium politics, etc. Plus, it's in Edmonton. Funny they are both sponsored by telecom, bridge a road, and are in revitalizing neighbourhoods. Architecturally, they are so different that it's hard to appraise them with the same rubric.

I agree with you in principle - stadium economics and billionaire bonusing are laughably appalling - but I think you are being a bit too generous on the NMC. Recall that the "philanthropy" you are mentioning is really only a minority of the NMC's cost, ~100 million / 160 million cost came directly from the various layers of government. It actually has a similar ratio of public vs. private funding as the Edmonton arena deal, albeit on a smaller scale.

The other issue that shouldn't be obscured is with the programming of the NMC itself is not designed for everyone - despite the brochure and tag lines. This isn't a facility designed with grass-roots music in mind or to help struggling artists groups. This is about the elite end of the music industry - the type that the elites donating all this money would support. This is the CPO, not an open-mic night at the Unicorn or Blues Can.

Both buildings are examples of elites leveraging public funding to achieve their own development and programming goals. I still think the NMC turned out great and is visually an stunning building - I would build it over a stadium any day - but we shouldn't think from a development point of view they are worlds apart. They have more in common than people think.

 

[Surrealplaces]

The old Alberta wheat Pool building has ~130K of sq feet, and was sold for around $30 million IIRC. ...about $250.00/square foot. In today's market, the building would sell for less, but even at that price, it's a building that might make sense. You could have a third of a floor (about 4000sq ft) as unfinished loft space for around $1M.

Interesting... I wonder what some of the other older Class B or C buildings would sell for? Alberta Wheat Pool bldg is definitely in the 'C' category, and a pretty old building. Still at $250.00 a square foot it would allow for extra cost for putting in a kitchen, and doing some reno work. And like you say, it would probably be cheaper to buy that building today.
If you could do 1200 sq foot spaces unfinished units for around 250K I think they would sell.

 

[Habanero]

On the other hand if you could buy the building for say, $20 million, would the land then become more valuable then the building, and demolition then looks better?

 

[RyLucky]

@CBBarnett I get what you're saying, and you're not wrong, but there still something about the difference between the NHL and the CPO that pulls out my political biases for all to see. When I go to see a hockey game, I spend $100+ and come home a bit worse for the experience. At a hockey game, I see an overwhelming male, sometimes a bit drunk, mob lining up to give their money to millionaires and billionaires who would usually set up shop in a different city if it meant they could make more money. When I come home from a museum or something artsy, I am rarely disgusted by myself or those around me, and often I have a new appreciation for something, even when the play sucks, ticket prices where annoyingly high, or the band was no good. Yes, I'm being too harsh on hockey, and yes, I'd love a new stadium if it was free for the taking, but corporate, professional sports adds a very different kind of value to the city than does does history and art.

 

[Cowtown]

I agree with you in principle - stadium economics and billionaire bonusing are laughably appalling - but I think you are being a bit too generous on the NMC. Recall that the "philanthropy" you are mentioning is really only a minority of the NMC's cost, ~100 million / 160 million cost came directly from the various layers of government. It actually has a similar ratio of public vs. private funding as the Edmonton arena deal, albeit on a smaller scale.

The other issue that shouldn't be obscured is with the programming of the NMC itself is not designed for everyone - despite the brochure and tag lines. This isn't a facility designed with grass-roots music in mind or to help struggling artists groups. This is about the elite end of the music industry - the type that the elites donating all this money would support. This is the CPO, not an open-mic night at the Unicorn or Blues Can.

Both buildings are examples of elites leveraging public funding to achieve their own development and programming goals. I still think the NMC turned out great and is visually an stunning building - I would build it over a stadium any day - but we shouldn't think from a development point of view they are worlds apart. They have more in common than people think.

Any buildings that have public funding ultimately have that very thing in common. I don't have issues with the funding of either building, but for me architecturally wise, I'm not as excited about an arena. As Surrealplaces mentioned, all the new arenas these days are nice, but a building like the NMC is a one of kind building, not just in its function, but just the design of the building itself.

 

[Surrealplaces]

Radius in Bridgeland

 

[Surrealplaces]

Steps in Bridgeland

 

[Surrealplaces]

I don't know the name of this project in Bridgeland. A nice little development.....proof that an affordable housing project doesn't have to look like crap.

 

[Marcanadian]

Here's some more information on the above project: http://www.calgary.ca/CS/OLSH/Pages...ridgeland-Affordable-Housing-Development.aspx

 

[Surrealplaces]

Thanks Marcus~!

 

[Cyric]

I'm really happy to see that Steps has finally sealed off their parking and started on the above ground portion but it must be a skeleton crew working on that project as they were up to grade back in June.

 

[Always_Biking]

Steps will be a cool little development. so many good things happening in Bridgeland these days.

 

[Alex_YYC]

A friend of mine looked at the units of Steps in Bridgeland and apparently there are no hallways or corridors on the inside, only the outside. Very interesting for a winter climate.

 

[Surrealplaces]

Calgary building permit values spike in October
http://www.calgarycitynews.com/


From the blog page:

Construction projects that have taken out building permits, while not a guarantee of completion, are a strong indicator that projects are moving forward in 2016 and 2017. They could take two or more years to complete. Here are some of the projects we saw come in this month:
​

• • Intergulf developments mixed use tower in the Beltline. Total construction value: $95,321,510
  • Crosstown, residential towers on Macleod Trail. Total construction value: $111,118,472
  • The Orchard, a mixed-use development in the Beltline. Total construction value of tower 1: $57,876,300
  • Marriott Hotel in the downtown commercial core. Total construction value: $57,487,700
  • Skyview Ranch, a multi-phase apartment complex and retail. Total construction value: $55,725,500

 

[Surrealplaces]