Chinatown Mall Redevelopment | ?m | ?s | Cidex

[quit]

I think it'll really depend on how leasing of The Hat at Five Corners goes for Cidex. If demand is strong enough, they may be willing to move quicker than we think. However, they have other 'tuna in the tub' at the moment, with the South Scona Parking Lot and projects in Oliver in the planning stages.

I think demand is already starting to drop for new developments. A co-worker of mine looking for a new place has found that places like Hendrix and other developments from 2-3 years ago have dropped their prices by 25-35%. That is going to be a tough pill to swallow for some of these new developments to stay competitive with other recent rental buildings.

 

[cmd uw]

There's no doubt that demand has softened, and that's across the board coast-to-coast. A big part is related to immigration into the country which dropped back in March-May and is now starting pick up again. There is a lag effect and eventually demand will get back to where it left off but that's likely a few months out yet. Our @81 project just off Whyte has had a high level of interest. Mind you this is only 36 units. Big difference when its 150, 200+ suites.

 

[Edmcowboy11]

Well the hat is done so now I wonder how long it will be until this project moves forward or has this project been shelved for the next long while?

 

[IanO]

Other priorities on Whyte and west Jasper.

 

[Edmcowboy11]

I have a feeling that that would be the answer which he is okay I guess. It is too bad though because a second tower at that intersection would definitely give the Quarters a further boost.

 

[IanO]

In due time is my guess.

 

[Edmcowboy11]

I guess so. I hope that they don't change their minds in the future.

 

[MCXavierL]

The zoning provisions for this property were amended along with many others in the Quarters on February 21, 2021.

Relating to this property which falls in Area 3 of the "Five Corners High Density Quarter":

 

[IanO]

I would expect something very similar to their project across the street x 2 with more of a commercial podium, but anything over 100m there would be quite the project/impact.

 

[ChazYEG]

I would expect something very similar to their project across the street x 2 with more of a commercial podium, but anything over 100m there would be quite the project/impact.

I'd give up a limb to see whatever goes there use the full height and floor area ratio. Would be amazing for the area, especially if we ever get to see the Quarter's tower, would make it less lonely

 

[IanO]

Picture Manulife Place there.

 

[ChazYEG]

Picture Manulife Place there.

Love it.