ICE District Phase 2 | 149.95m | ?s | ICE District Prop.

[IanO]

I have to think that the next stage is a purpose-built rental tower to inject some more regular customers/residents into the area and then be the next portion they sell to free up some capital for the beginnings of phase 2.

 

[Barnaby]

I have to think that the next stage is a purpose-built rental tower to inject some more regular customers/residents into the area and then be the next portion they sell to free up some capital for the beginnings of phase 2.

Would financing for this even be difficult right now? The groundwork is already done, they can use the same space that was preciously used on 104th as a field office.

This has to be one of the best risk/rewards for a high rise developer in the city?

Phase 2 is a completely different story. You don't have Rogers and 104th Ave acting as a wall from the area north. Harder sell for many imo.

 

[IanO]

^agreed.

I suspect that as rates drop that we will indeed see a high density PBR tower of ~40 floors.

 

[David A]

Connect Centre tower is the obvious next step. Keep in mind that they had their asses handed to them with the timing of stage 1 (Stantec and Legends). The CC tower will probably need to be purpose built rentals, but those would lease up within a year if built out similarly to something like the McLaren or Hendrix.

I agree. Stantec and Legends are very nice, but this is a lot of units all at once for the more upscale market, which does exist here but is not huge. So the Connect Centre tower will need to be a bit different.