Emerald Tower | 153.61m | 45s | Regency Developments | DER + Associates

[IanO]

^That's correct.

 

[MacLac]

I walked by at lunch. It looked like they were taking the dirt from the Leston development north and bringing it into the Emerald site.

But then they dirt was also being transfered there into a larger dump truck to haul away.

Also there is a Westrich Pacific trailer on site.

Finally, I asked the owner/worker from the liquor store on this same block if he knew what was going on - he said unfortunately not what he was hoping for. It's his understanding they are just filling in the hole.

Nothing says gospel like a "liquor store owner." lol. Query: if Regency has plans to fill up the pit - why not use the free dirt that Leston is pulling out? Kind of defeats the purpose........

 

[TAS]

Nothing says gospel like a "liquor store owner." lol. Query: if Regency has plans to fill up the pit - why not use the free dirt that Leston is pulling out? Kind of defeats the purpose........

I wish I could have talked to a worker on site, but no opportunity.

Basically what I saw for the three minutes I was there was dirt was being hauled into a smaller dump truck from Leston, then dumped into the Emerald site and then loaded onto a two trailer dump truck and then taken off site.

 

[TAS]

Walked by again. The piles of dirt that were on site have all been removed so it doesn't seem they are filling up the pond, although it doesn't seem as deep.

Westrich trailer has been parked on the east end inside the lot.

 

[northlands]

That dump truck seen far right was being filled on the Leston site and then dumped onto the Emerald site.

 

[Tropical]

To those who can translate this activity into something folks like me can understand - what is likely going on?

 

[Vijay19]

Filling in this hole would seem reasonable given that the parkade is supposed to be above ground, but then again what do I know.

 

[northlands]

To those who can translate this activity into something folks like me can understand - what is likely going on?

My best guess is Westrich/Leston and Regency worked out some sort of deal to allow Westrich to use the Emerald site as a laydown for their project across the alley, and they're using dirt from the parkade excavation as fill for the Emerald.

 

[northlands]

They’ve dug deep enough that you can’t even see the 3rd excavator in the pit next door. I assume this is what the shoring steel was for

 

[_urbanite]

FYI - the website for Urban Flats is lestonurban.com

 

[IanO]

Confirmed that they are just bringing the site back to grade.

 

[CaptainBL]

Confirmed that they are just bringing the site back to grade.

So, let me understand. The site has sat empty since 2016. Regency claimed in 2019 that they needed to remediate the site which was holding up development (link) but they have done minimal to no remediation on that site since that time and now they are just filling in the site to grade? If that truly is the case then what a bunch of incompetent boobs over at Regency. Filling in a lot that requires remediation is about as big a red flag indictor that there will be no development activity on this site for the foreseeable future as you can get. Brutal for that lot, downtown, and that section of Jasper.

 

[IanO]

As a few on this site can attest to, development is tough gam; with many complexities. Throw in a dirty site, lagging market and exponential interest rate hikes and all of a sudden your risk profile might change a wee bit, let along your proforma.

 

[CaptainBL]

As a few on this site can attest to, development is tough gam; with many complexities. Throw in a dirty site, lagging market and exponential interest rate hikes and all of a sudden your risk profile might change a wee bit, let along your proforma.

And that's just their Emerald site, never mind their BMO site...

Bit off more than they could chew and now the city and downtown is paying for it.

 

[Avenuer]

As a few on this site can attest to, development is tough gam; with many complexities. Throw in a dirty site, lagging market and exponential interest rate hikes and all of a sudden your risk profile might change a wee bit, let along your proforma.

And it's clear to see what separates the legitimate, quality developers from the wannabes or has-beens. The last decent project Regency completed was The Pearl nearly a decade ago now. It's by far time for them to sell their remaining development parcels to groups that will actually construct quality projects and not let the sites sit idle and become nuisances for the surrounding community.