Urban Development and Proposals Discussion

[CalgaryTiger]

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]

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.

 

[DougB]

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

Absolutely. A developer can renovate an existing property or build new. Those closest to the market always know the market best.

 

[Chinook Arch]

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]

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.

 

[artvandelay]

It was Suncor.

 

[Surrealplaces]

It was Suncor.

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.

 

[lemongrab]

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...

 

[darwink]

I suspect they just want permission to build the hotel.

 

[MichaelS]

Seems like a bizarre strategy. Would have asking for just a hotel been so difficult?

 

[darwink]

Seems like a bizarre strategy. Would have asking for just a hotel been so difficult?

would also impact heritage. when asking for a controversial thing from council, always best to opening gambit an even more controversial thing.

 

[zagox]

https://www.cbc.ca/news/canada/calgary/kensington-manor-demolition-calgary-1.5717321

City of Calgary will foot $2.6M bill for levelling structurally unsafe apartment building

Geotechnical drill on the Kensington Manor site. The "Conditionally Sold" sign is still up, so presumably this is related to satisfying the conditions of the sale.

 

[konradiical]

Do you think the city will ever consider doing development on inner city cemeteries? Now idk how ownership works or if they are even full yet, but just out of curiosity is it even possible? The land on the multiple MacLeod cemeteries and Queen Park Village are in amazing spots. I mean disrespect by the question just curious what is the process or even probability of something like that happening as cities look to use as much of their land as possible in the inner city

 

[darwink]

I remember hearing the rule was 200 years or somesuch. Maybe that was for private ones—you're paying for 200 years of occupancy and maintenance.

 

[YourBoy007]

I stole this from the Calgary sub. Hilariously terrible I know. But besides that, do you guys think we can have pedestrian corners without a curb and have it all be flush with the road? Is it possible and does it make sense in areas like downtown?