Army & Navy Redevelopment | ?m | 6s | Edgar

What do you think of this project?

  • Total voters
    32
Any chance that last proposal can still be used? The biggest missed opportunity for a positive change Whyte Ave
 
crisp said:
Any chance that last proposal can still be used? The biggest missed opportunity for a positive change Whyte Ave
Click to expand...
There is Probably Copyright Protection
And The New owner Might want to just renovate the Current building and will end up with No Residential Whatsoever

I'm hoping for something to Be Built here that's Actually Worth Something
and Not Just another Lipstick on a pig renovation

As Historic as the Army & navy Building is
It does Not Look Great,
And A Renovation would not do much.
 
Anything decent that fills the space would be good news.

Whyte Ave is a retail street and it would be great if this big space could be broken up into several smaller spaces, similar to what was done with the old United Cycle space nearby years ago.

It doesn't have to be a fancy renovation, just something that nice that uses the space.
 
Avenuer said:
It's a local investor group, plan is to keep the building and repurpose it for commercial.
Click to expand...
I would certainly have hoped for some midrise multi-res there. It's a big commercial footprint with basement, which I would think would be a challenge to re-tenant. That said, I'm not the purchaser and will wait and see what they envision.
 
I like Kevin and wish him the best with this new 'niche business hub and entertainment destination below', but am disappointed given what was on the books before. That said, it's great to see someone local investing in this property and getting the lights back on.

globalnews.ca

The future of Edmonton’s vacant Army and Navy department store | Watch News Videos Online

Watch The future of Edmonton’s vacant Army and Navy department store Video Online, on GlobalNews.ca
globalnews.ca globalnews.ca
 
IanO said:
I like Kevin and wish him the best with this new 'niche business hub and entertainment destination below', but am disappointed given what was on the books before. That said, it's great to see someone local investing in this property and getting the lights back on.

globalnews.ca

The future of Edmonton’s vacant Army and Navy department store | Watch News Videos Online

Watch The future of Edmonton’s vacant Army and Navy department store Video Online, on GlobalNews.ca
globalnews.ca globalnews.ca
Click to expand...
Confused.....they spent $2M on the building and really have no clue what they want to do with it? Must have some deep pockets to NOT have a business plan already created....good luck to them.
 
MacLac said:
Confused.....they spent $2M on the building and really have no clue what they want to do with it? Must have some deep pockets to NOT have a business plan already created....good luck to them.
Click to expand...
Its like when you go shopping and see something really nice for a fantastic price. You may snap it up and figure out what occasion to wear it later.

It is Whyte Ave and there are a number of things that could do well there, so its not a bad idea to take a moment to figure out which you would like to pursue.
 
David A said:
Its like when you go shopping and see something really nice for a fantastic price. You may snap it up and figure out what occasion to wear it later.

It is Whyte Ave and there are a number of things that could do well there, so its not a bad idea to take a moment to figure out which you would like to pursue.
Click to expand...
Typically before the actual sale you 'tie up' (AKA get it under contract) the property for a period of time so you can complete the necessary due diligence (commission reports such as Environmental Site Assessments, Hazardous Building Materials Assessments, figure out the development programme, etc.). This period of time can be as short as 30-45 days or extend for many months if not years depending on the complexity of the site/building. By the time you're ready to remove conditions you may not have the full development programme 'baked in' but you at least have a general idea of what you plan to do. You also have to understand what, if any, financing you'll need and will work with a prospective lender to understand the specific financing terms associated with your proposed programme. So in this case knowing Kevin and that this isn't the first rodeo for Leder they likely tied up the property and completed their necessary due diligence and have a general idea as to what they want to do.
 
You must log in or register to post here.

Back
Top