Tower 101 | 175m | 50s | Regency Developments | DER + Associates

What do you think of this project?

  • Total voters
    52
Potential Future site uses
A supertall that is 310m and 90 floors
A 10 floor office tower with all glass
A 30 floor residential tower
A park
A decent midrise residential building
A multistorey parking garage
 
Kirkland 808 said:
Potential Future site uses
A supertall that is 310m and 90 floors
A 10 floor office tower with all glass
A 30 floor residential tower
A park
A decent midrise residential building
A multistorey parking garage
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Not sure I'm on board with the multistorey parking garage nor the supertall (though it's definitely much better than a parking garage). Personally I'd like to see something between 150-200 metres. Mostly residential but definitely mixed-use. With active storefronts along 102 ave and 101st st could also have a second level of commercial above in lofts. It would be so great to see a replica of the Tegler facade come back for the bottom few floors as well.
 
erudyk_29 said:
Not sure I'm on board with the multistorey parking garage nor the supertall (though it's definitely much better than a parking garage). Personally I'd like to see something between 150-200 metres. Mostly residential but definitely mixed-use. With active storefronts along 102 ave and 101st st could also have a second level of commercial above in lofts. It would be so great to see a replica of the Tegler facade come back for the bottom few floors as well.
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I change my mind about those concepts your proposal is a great idea
If somthing that is similer to your proposal gets built It would imedietly become my Favourite building
 
Lots of you guys are dreaming - this site will take a while to sell. As CaptainBL has mentioned institutional capital is not investing in Edmonton, which means a local player would have to purchase this. Local players have all looked at this site and passed. The reason the Downtown Recovery Coalition has so many members from our real estate industry is because they have been trying to explain that institutional capital will not invest here with the current state of downtown.
 
Institutional Capital in pre-development has rarely invested in Edmonton Downtown infrastructure buildout -- that's a no-brainer. Those Toronto-centric minions consider Edmonton to be an outback. I believe that it is one of the reasons that so many world-class companies in the development world have started in the big E -- Triple 5, Poole (PCL), Oxford for example -- they have had to be very creative in their financing models and their growth structures and strategies. It is one of the reasons that CWB has seen an opening here and has grown so quickly. Edmonton has always been rather insular on the development side.
 
Like many things, real estate goes in cycles. Urban problems, interest rates and economic concerns are not unique to Edmonton.

It is unfortunate that this site has languished. I was concerned when the BMO building was torn down it was the wrong time and it would sit for a long time.

It seems to take no particular brilliance to tear something down. If the LRT ever starts running, that will help some for this area.
 
archited said:
Institutional Capital in pre-development has rarely invested in Edmonton Downtown infrastructure buildout -- that's a no-brainer. Those Toronto-centric minions consider Edmonton to be an outback. I believe that it is one of the reasons that so many world-class companies in the development world have started in the big E -- Triple 5, Poole (PCL), Oxford for example -- they have had to be very creative in their financing models and their growth structures and strategies. It is one of the reasons that CWB has seen an opening here and has grown so quickly. Edmonton has always been rather insular on the development side.
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I don't disagree with this but the Edmonton development community has already been aware of the availability of this site. Local players have looked at it and passed - there is a reason it is now listed with a broker incurring commissions on a sale. It was shopped privately originally.
 
archited said:
Institutional Capital in pre-development has rarely invested in Edmonton Downtown infrastructure buildout -- that's a no-brainer. Those Toronto-centric minions consider Edmonton to be an outback. I believe that it is one of the reasons that so many world-class companies in the development world have started in the big E -- Triple 5, Poole (PCL), Oxford for example -- they have had to be very creative in their financing models and their growth structures and strategies. It is one of the reasons that CWB has seen an opening here and has grown so quickly. Edmonton has always been rather insular on the development side.
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Manulife got burned years ago and swore they wouldn’t invest in Edmonton again. I guess the word got around.
 
I think the fact that this plot of lot, in the absolute dead centre of a major Canadian city in a wealthy province, having difficulty in attracting interest from developers is a microcosm of how dead in the water institutional investment is here right now. If this were in most other major Canadian cities, there would be a bidding war amongst big time developers. Yet here we are.
 
Munanyo said:
I think the fact that this plot of lot, in the absolute dead centre of a major Canadian city in a wealthy province, having difficulty in attracting interest from developers is a microcosm of how dead in the water institutional investment is here right now. If this were in most other major Canadian cities, there would be a bidding war amongst big time developers. Yet here we are.
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Seems like a similar situation is happening in another major Canadian city - Calgary.

 
TAS said:
Seems like a similar situation is happening in another major Canadian city - Calgary.

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No, it is not a similar situation, at all. Not even close.

The aversion of out of town or institutional investors to downtown Edmonton is not similar to what is going on in Calgary because you found one developer selling a land parcel there. That land will go quickly for a number of reasons including but not limited to the attractiveness of what is going on in East Village, the Riverwalk, the attractiveness and general activity of downtown Calgary. As the article mentions there is already interest from Vancouver developers. Heck, a developer from Texas is building a new massive hotel in the Stampede area. https://storeys.com/calgary-cmlc-stampede-park-bmo-centre-hotel-matthews-southwest-hospitality/

As I mentioned before, you may be surprised at how long it takes for the 101 site as Edmonton developers have all passed on the site, institutional is very sour on downtown Edmonton, and (simply for example because of the article) developers from Vancouver and Toronto don't have a history of being attracted to downtown Edmonton.

I by no means am saying this site wont get sold, or wont be sold to an institutional investor, but there is a reason why you don't see out of town developers buy land or succeed building developments in downtown Edmonton. The word is out and has been for some time and continues to be.

This is just my opinion and prediction but you may get someone who buys it and holds it for a long long time before we seeing anything developed or you get someone who is unfamiliar with downtown Edmonton that sees this as a once in a lifetime opportunity to buy something in a downtown Canadian core. However, that last part is literally what the German pension fund thought with city center and they have been burned with how that turned out.
 
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