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Urban Development and Proposals Discussion

Bertie Wooster

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Here's the Agenda for the Infrastructure and Planning Committee which includes the amendments to parking minimums. They voted on it yesterday.

Is there anyway to find out what got passed and what didn't without waiting for the livestream and Minutes to be uploaded?
Passed at committee. New middle density district, plus changes to R-CG, etc. Parking is at .375 spots per unit/suite.
 

1875

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This week on Down to Business, Steven Paynter, a principal in Toronto at Gensler, the largest architectural and interior design firm in the world, spoke about the future of the office building.

During the pandemic, the city of Calgary hired Gensler to study whether it would be practical to convert many of its empty office buildings into residential units, and Gensler explained what he found.

https://financialpost.com/news/economy/work-from-home-office-pandemic
 

FriendlyDrunks

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I haven't listened to the interview, but I am curious if he said we need MORE office space, since Gensler is part of the design team behind Stephen Avenue Quarter....
It's mentioned that class A offices are doing just fine, it's less desirable office space which is mostly unoccupied. According to Gensler of course.
 

DougB

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I haven't listened to the interview, but I am curious if he said we need MORE office space, since Gensler is part of the design team behind Stephen Avenue Quarter....
Developers know the market better than do politicians and planners. The City initiative to subsidize office to residential conversion has many unintended consequences, including incenting new office construction and competing with (and likely discouraging) non-subsidized residential construction in the same general area.
 

haltcatchfire

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Developers know the market better than do politicians and planners. The City initiative to subsidize office to residential conversion has many unintended consequences, including incenting new office construction and competing with (and likely discouraging) non-subsidized residential construction in the same general area.

Developers know the market for new better, but do know they know the market well for older property?
 

CalgaryTiger

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The city (both the city of calgary (taxes) and people of calgary (vibrancy and lower taxes)) both benefit from occupied space. If the conversions get more space occupied then great.

I remember seeing news of more companies (shell and another...) moving into the bow, class A space... That, along with what this person says, tells me if you operate an older building and want tenants you need to upgrade your space. Or the city gives you an option to convert it.

There is a third option other than upgrading or converting a space, taking it down. We're not there yet, and maybe we never will be. But I'm still curious which large property (Shell, Nexen, etc.) will either undergo a massive renovation or be taken down.
 

Surrealplaces

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Developers know the market better than do politicians and planners. The City initiative to subsidize office to residential conversion has many unintended consequences, including incenting new office construction and competing with (and likely discouraging) non-subsidized residential construction in the same general area.
Any new office construction won't come about due to the loss of a few small class C buildings. Nobody knows for sure who the rumored tenant is for Stephen Ave Quarters, but it isn't anybody leaving one of the small office building slated for conversions. It'll be a larger anchor tenant already occupying Class A space that wants large contagious new space.
 

Chinook Arch

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Any new office construction won't come about due to the loss of a few small class C buildings. Nobody knows for sure who the rumored tenant is for Stephen Ave Quarters, but it isn't anybody leaving one of the small office building slated for conversions. It'll be a larger anchor tenant already occupying Class A space that wants large contagious new space.
The name I keep hearing for the rumour tenant is Suncor, and where there’s smoke there’s often fire.

In regards to office conversions, I agree. Converting older, smaller buildings to residential it’s not going to create demand for new office space unless the vacancy rate becomes super low. The tenants in those older smaller buildings are a different type of tenant then you would see in the larger class A buildings.
 

Calgcouver

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The name I keep hearing for the rumour tenant is Suncor, and where there’s smoke there’s often fire.

In regards to office conversions, I agree. Converting older, smaller buildings to residential it’s not going to create demand for new office space unless the vacancy rate becomes super low. The tenants in those older smaller buildings are a different type of tenant then you would see in the larger class A buildings.
Heard it from way too many sources to not know it is Suncor. AA class buildings are still at ~15% vacancy and A class is 32-33%. Calgary doesn't need new office space for decades, if ever.
 
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lemongrab

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If rumored Suncor is no longer in the mix, I wonder if there is another potential tenant? They still seem to be pushing the project.
Could it make sense to keep trying for the re-zoning/DP even if they don't intend to build anytime soon? IIRC there was some speculation that this was always a bit of a pump&dump...
 

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