The Augustana | 96m | 30s | Pangman | DIALOG

What do you think of this project?

  • Total voters
    47
Walked by yesterday and no signs of anything happening yet. Still has the 'for lease' sign plastered on the windows.

I could see this being a great spot for a high end dining establishment, but that is some risky business, especially given its somewhat awkward location.
 
Awkward?

Good density, decent lunchtime crowd, across from the Leg, decent parking.

I'd love for The Marc to move there.
 
The area is a dead zone after 5 PM. I see the potential of the area but its just not there yet.

I would also love for The Marc to move in there. Funny enough I was actually wondering the other day if they would consider it. One of the best restaurants in the city.
 
I would bet the Marc is paying 50% less where they are now over the ask for the Augustana space. No reason to move and the Marc is successful where they are. Does the Augustans space have a large outdoor patio available?
 
There were plans for a patio along 107st which would suffice.

I chatted with Patrick a few weeks ago and specifically asked him about just that topic and they were certainly approached, but are happy where they are.
 
Still going...
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I've noticed that with some other buildings that are primarily residential, with some commercial on the main level, that the commercial space can be an afterthought for the property managers and not really their priority.
 
ChazYEG said:
I wonder how much they're asking on the leases. It HAS to be extremely high, because these CRUs are well located enough to be leasing up (even if slowly), and we've seen stuff open not too far from them recently.
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I have no clue what the asking lease rate is, but I would assume that is not the largest contributing factor here.

This just isn't an attractive spot for a new business. The heartbeat of this intersection is government workers, and in a post-pandemic world, we just aren't seeing that critical mass of daytime workers here anymore.

I think the downtown residential activity mostly spends their cash around (and north of) Jasper Ave at key corridors like 109th, 104th, & Ice District.

Plus, I can't even imagine how expensive it is to be a first tenant and have to fit the entire space out. There are retail bays in the area where the HVAC, plumbing, etc, is largely done and would require a renovation instead of full construction.
 
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