dunno
Active Member
Do we want a car-forward downtown or not?Parking probably still generates revenue with people working downtown.
Do we want a car-forward downtown or not?Parking probably still generates revenue with people working downtown.
I don't know their financial details, but I suspect the office towers and the parking are what will keep this viable overall. The mall which has been around for almost 50 years now, of course comes with this, and has had a difficult 5 years or so recently. They now seem to be working on stabilizing it and getting it back on track. The lot to the south of the mall is still sitting empty and has been for a long time, which tells me there probably is not much demand for another tower now of any type in this area.Realistically, any reasonably responsible businesses owner will always be thinking about their assets with these lenses.
It's easy to spitball ideas when you don't have to foot the bill, and that's pretty much what you are doing. If they were to follow your proposal, these guys would have anywhere between 50 and 200 million dollars shortfall to make up for, between lost revenue and maintenance costs, and that is IF the market conditions allow for the development to be profitable and start recouping the costs immediately after construction is finished.
LaSalle and their investors are businesses, and as much as they might want to engage in the betterment of the city, their main goal will always be to make the most money possible out of the assets they own. Within these parameters, their best play would be to demolish and redevelop the HBC space, as it was already pointed out. It would stop the bleeding on the current maintenance costs, which could itself finance the redevelopment, and become a profitable asset much sooner.
But again, if you are confident that you have the best solution, I suggest you approach LaSalle and bring in the $200m financing to back it up, assuming all of the risks. I'm sure they'd be thrilled to follow your vision.
But then again, last I heard, your capital raising efforts were pretty much unsuccessful, do there's that.
I don't know the cost, or how viable this is, but this pedway connection is a very interesting idea and could actually help the west part of City Centre a lot by also drawing people from the large office tower and hotel to the north.Was there ever talk, or an attempt to run a pedway connection directly from City Centre West to the Stantec tower? And thus Rogers Place as well. I know it'd be through the parkade there so maybe it was never viable.
The current pedway routes mean you're never routed through City Centre West except for the little section before Manulife Place.
If they could do something with just that western-most Parkade, ideally with residential towers like has been suggested here, and include a Pedway connection onward to Stantec/Ice-District it would increase foot traffic significantly. It would both improve the vibrancy of what is now a fairly significant corner at 103-103, and enable a lot more people to travel through City Centre on their way to or from the Ice District.
When I was with Stantec just after the move in. That parkade was cheaper than the Stantec one. So it does get used a lot.Parking probably still generates revenue with people working downtown.
If you are just looking at traffic for the mall and it's various uses/tenants there is plenty of parking. The parkades are used for folks attending events downtown, grabbing dinner, or working nearby also. The way the area has developed the parkades aren't ideally situated aesthetically but from a business perspective they make sense.Is there actually shortage of parking at CCM? their entire basement is a parkade on both sides. Would demolishing that above ground parkade be that big of a loss in terms of supply of available parking?
Is there actually shortage of parking at CCM? their entire basement is a parkade on both sides. Would demolishing that above ground parkade be that big of a loss in terms of supply of available parking?
If you are just looking at traffic for the mall and it's various uses/tenants there is plenty of parking. The parkades are used for folks attending events downtown, grabbing dinner, or working nearby also. The way the area has developed the parkades aren't ideally situated aesthetically but from a business perspective they make sense.
To be fair, this mall was actually built in a time before large underground parkades were common downtown. So the conversion of the basement space to parking made some sense as retrofitting, but not in other ways.You mean the basements that used to be retail where we asked a similar, but opposite question but 10-15yrs ago?
Was in Stockholm in August and was able to visit the IKEA in one of the main shopping malls, would absolutely love one in city centre, especially because it's much easier to get to than the SouthsideIKEA in the Bay with a distribution centre given how much room and loading bays are there.




