News   Apr 03, 2020
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General Construction Updates

The new deli section just opened this week at Mission Safeway. They are really going all out on this expansion and renovation. Love it!


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One of the empty lots in Marda Loop, the former site of the Mazaya sheesha lounge has a big SOLD sign on it. Hopefully something interesting goes in there. Or maybe co-op is trying to buy up that entire block.

Is this the “Prairie Block” site?


It’d be great if that entire block was redeveloped, although I’d like the buildings with the active store fronts on 33 Ave (buildings with Boogies Burgers, K-Thi Vietnamese Cuisine, etc.) to remain if possible!
 
That's the one.

Hopefully that means something will happen with that site! I quite like the renderings for Prairie Block and had been holding out hope that it would be built one day, but I’d be more than happy with a master planned block!

Ideal situation is that if they do redevelop the whole block, they improve the active frontage on 33 Ave, add active frontage on 34 Ave and 20 St, create the “Festival Street” on 21 St as suggested in the Streetscape Master Plan, and maybe, just maybe, Co-Op creates a public space or adds public art to the corner of 33 Ave and 20 St.

One challenge for a full development of the block will be relocation of the cell tower behind Prairie Block, but not insurmountable.
 
I'd wager if you had two million free and clear, acquired a 50' lot at the right price in the right location, knew what you were doing in construction, and had a good designer you could probably make 8%-10%.
That’s pretty accurate and profit margin on cost is below the 15% you’d want to see a proforma to say go on for a lot of little R-CG projects. People are making a go of it though, feel time on the market is a killer for some though.
 

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