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General Construction Updates

UrbanWarrior

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Lol it was on the verge of structural collapse and had to be emergency evacuated like two years ago. It’s most certainly coming down.
 

Chinook Arch

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There were plans for something there at one time, but given the way things are, the only change we'll see id to an empty parking lot unfortunately.
 

zagox

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There were plans for something there at one time, but given the way things are, the only change we'll see id to an empty parking lot unfortunately.
The city will have a massive lien on the lot when they finish paying for all the demo, which will be senior to the banks which hold the mortgage. I'm assuming the banks don't want to foreclose just yet because they don't want the liability as owners during demo. Once the demo is done, the banks will likely sell the lot to a developer (who will have to pay off the demo lien as part of the sale). Presumably at that point it will be attractive to build a mixed use rental project.
 

haltcatchfire

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It’ll be a patch of dirt, weeds and stray garbage surrounded by rusty rental fencing for many generations.

Or plot twist, the bank that holds the mortgage builds a windowless 1 storey branch on the lot.

Choose your own adventure.
 

UrbanWarrior

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Perhaps the city could take it over just like they did the triangle lot with Container Park and put a mini park space there until something new is developed. That’s what they’re doing there.
 

Mountain Man

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Part of the roof is gone already. Need to support the equipment being used to demo. Can’t take any risk of collapse while there’s workers on it.
Yeah that makes sense, first time I've seen re-shoring used in a building being taken down is all. Used to know someone who lived in that building, they were evacuated when the engineer report came out, not a good situation.

The city should try to build some affordable housing there, would likely guarantee an ugly building, but that's better than a dirt lot.
 
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zagox

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The triangle lot is an epic failure.
If the city ends up controlling the lot, I agree with you that a weedy garbage patch is the most likely outcome for a long time. The Triangle site is Exhibit A on what happens to city property that is slated for redevelopment -- many studies, reports, and consultations, followed by unrealistic expectations of what the market will bear, and a failed sale process.

If the demo lien is cleared and a developer gets the site with relatively clean title, I am optimistic that something will be redeveloped much more quickly.
 

Nimbus

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Yeah that makes sense, first time I've seen re-shoring used in a building being taken down is all. Used to know someone who lived in that building, they were evacuated when the engineer report came out, not a good situation.

The city should try to build some affordable housing there, would likely guarantee an ugly building, but that's better than a dirt lot.
I thought all that shoring went in after the inspectors realized just how bad the condition of the building was.
 

UrbanWarrior

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The cafe spots at Century Gardens is turning out great. Plays off the angles of the brutalist fountains.

2A2CE6FD-DD88-4A0E-BBBB-280BA9A6D03B.jpeg



and a project in Bowness ish?

75EC201B-FFC5-4063-818C-2C5D4387F300.jpeg
 

darwink

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The city will have a massive lien on the lot when they finish paying for all the demo, which will be senior to the banks which hold the mortgage. I'm assuming the banks don't want to foreclose just yet because they don't want the liability as owners during demo. Once the demo is done, the banks will likely sell the lot to a developer (who will have to pay off the demo lien as part of the sale). Presumably at that point it will be attractive to build a mixed use rental project.
It’ll be a patch of dirt, weeds and stray garbage surrounded by rusty rental fencing for many generations.

Or plot twist, the bank that holds the mortgage builds a windowless 1 storey branch on the lot.

Choose your own adventure.
Given the history of developers buying city associated property in Calgary, there will be a bidding war then the winner will have paid too much, the city will reject a FAR or height limit increase (possibly out of spite since some may make the argument 'why should we bonus this, the city never got the full lien back') which is needed to make the project profitable, and the site will sit empty.
 

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