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What do you think of this project?

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Vijay19 said:
They have already released information on the tiny tower that's going there, so what's with the rampant speculation of it now becoming a mixed-use tower with a significant height increase? Does someone have information that this is actually the case, or is this just that, speculation, motivated by wishful thinking? It just seems weird to release the plans for a completely underwhelming tower if following through with that schematic is not their intention.
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Okay, so let's straighten the facts:

Someone else (I can't recall who), heard from a reliable source that they were pushing the construction due to the challenging scenario we have right now (and for the next year or so).

Due to my line of work, I have a few connections in senior management and executive positions within CWB, that while not directly involved in the decision-making process regarding the tower, are appraised of movements on that front. Out of professional respect, and so as not to expose them unnecessarily, I will not disclose their names. The information I have is that they are studying the possibility of a mixed use tower that is slightly taller than the current iteration, nothing like what has been discussed in the thread over the past couple of pages (full approved height). My sources also confirmed that, unless market conditions change significantly faster than expected, they are very unlikely to start construction before 2026.

Vijay19 said:
It just seems weird to release the plans for a completely underwhelming tower if following through with that schematic is not their intention.
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It is not a rare occurrence. Projects that are planned that far into the future very often suffer modifications before they are actually put under construction (and sometimes even after). Circumstances change a lot, especially in a time span of 3-4 years (which is when we'll likely see anything built there).
 
Now, as for the speculation of how much taller the tower will be, what kind of composition, etc... That is just it, speculation... Some of it will be more realistic, and fall into the "educated guess" category.

Considering the information that I have, I believe we will see a 10-15 stories increase (probably more towards the lower end of this range), and they'll have less office floors than originally planned, with half (or more) of the building being a hotel. It is what would make more sense financially, for them. Having a hotel occupy half of the building would substantially offset costs and bring in a good revenue stream, while the money they save from leasing their current tower alone will likely not be enough to justify the move.

Oh, another piece of information I have confirmed with my sources is that they will be moving their Oliver branch somewhere else in the area, with a smaller footprint, when they finish the construction of the new tower, as they'll no longer need the office space for the corporate employees that are there.
 
The Oliver branch is rather large, isn't it?

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Gronk! said:
The Oliver branch is rather large, isn't it?

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Yes, it's massive, because they currently also house part of their corporate team. The reason why I am sure they'll move out of there when the new HQ is built is because my connections there work in this office, hahaha.
 
ChazYEG said:
Now, as for the speculation of how much taller the tower will be, what kind of composition, etc... That is just it, speculation... Some of it will be more realistic, and fall into the "educated guess" category.

Considering the information that I have, I believe we will see a 10-15 stories increase (probably more towards the lower end of this range), and they'll have less office floors than originally planned, with half (or more) of the building being a hotel. It is what would make more sense financially, for them. Having a hotel occupy half of the building would substantially offset costs and bring in a good revenue stream, while the money they save from leasing their current tower alone will likely not be enough to justify the move.

Oh, another piece of information I have confirmed with my sources is that they will be moving their Oliver branch somewhere else in the area, with a smaller footprint, when they finish the construction of the new tower, as they'll no longer need the office space for the corporate employees that are there.
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Thanks for the clarification. Man people get a snippet of information on here and they manifest into giddy children making a Christmas wish list.
 
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Vijay19 said:
Thanks for the clarification. Man people get a snippet of information on here and they manifest into giddy children making a Christmas wish list.
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I guess it's just a bit of wishful thinking, mixed with frustration.

We all know (and hoped) this site would bring something more substantial and architecturally interesting than what is currently proposed. I, for once, wish we could've seen the original proposal for the side, from back when the Ice District was just in the early stages of proposal/construction
 
Vijay19 said:
Man people get a snippet of information on here and they manifest into giddy children making a Christmas wish list.
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Ain't that the truth... then there are those who just negate any intelligent conversation at all... I guess that is the nature of the online discourse no matter the subject..."look at me, I know a lot about everything and nothing is going to work" or "if I were the developer, I would do this, this and this... and don't forget the bicycles!"
 
The reason for the 121st being so large is a replacement to their 113st location which had bunch of their (was it?) corporate lending?
 
The reason I don't see a hotel going on that site is primarily the lack of street access -- even a rental car option for a hotel guest would be hard to achieve without street access. Secondarily, Katz has a management agreement with Marriott on a hotel that is already on the ICE campus and I would imagine that Marriott has an exclusive operational management agreement. Thirdly, CWB has already leased the ground floor and I would be surprised if they wanted to give up customer service space in such a prime location to share some of it with an hotel. I could, however see a hotel -- if there was interest -- going in a mixed use tower in Katz' property on 104th Street, connected to ICE by way of a +15 Pedway. A mixed use development with the planned CWB tower would more likely be an apartment use. A second hotel on 104th Street would be a real possibility considering the cachet that 104 is continuing to build and even at that the management option would likely go to one of Marriott's brands, perhaps a "W" or an "Aloft", considering the character of 104th Street.
 
archited said:
The reason I don't see a hotel going on that site is primarily the lack of street access -- even a rental car option for a hotel guest would be hard to achieve without street access. Secondarily, Katz has a management agreement with Marriott on a hotel that is already on the ICE campus and I would imagine that Marriott has an exclusive operational management agreement. Thirdly, CWB has already leased the ground floor and I would be surprised if they wanted to give up customer service space in such a prime location to share some of it with an hotel. I could, however see a hotel -- if there was interest -- going in a mixed use tower in Katz' property on 104th Street, connected to ICE by way of a +15 Pedway. A mixed use development with the planned CWB tower would more likely be an apartment use. A second hotel on 104th Street would be a real possibility considering the cachet that 104 is continuing to build and even at that the management option would likely go to one of Marriott's brands, perhaps a "W" or an "Aloft", considering the character of 104th Street.
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I don’t see us getting a W, but appreciate the sentiment.
 
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