J123 | 99.06m | 30s | Streamliner | DIALOG

[Edmcowboy11]

It's sad.
Maybe some local developer could at buy it and build something like a Mercury III?

 

[northlands]

There is now a CBRE for sale sign on this site.

 

[Canadian 001]

Finally
Selling this site is a good idea

 

[David A]

It's sad.
Maybe some local developer could at buy it and build something like a Mercury III?

I realize larger companies from far away sometimes have better access to capital, but sometimes local knowledge of how to make it work is what makes the difference between something going ahead or not.

 

[_urbanite]

Hopefully a local developer picks this one up this time

 

[Barnaby]

Purely residential from a developer that has a lot of nearby CRU space would be nice here.

 

[IanO]

I realize larger companies from far away sometimes have better access to capital, but sometimes local knowledge of how to make it work is what makes the difference between something going ahead or not.

Less about local knowledge, more about local market fundamentals and cost prohibitive for many in the high-rise business, along with opportunity cost back home.

 

[David A]

All real estate is local, so you have to understand what you are getting into to succeed, not just be some over eager developer from far away who thinks they are smart and has some money, but really doesn't have a clue.

Of course the seller of the property may indulge their fantasies, so they wont figure it out until later after they paid a whack of money for something they then can't make work.

 

[IanO]

Ok, sure, but this happened with Great Gulf (Frank Oliver site) and Germain group on the 104st hotel/condo as well...

 

[davcocom]

Purely residential from a developer that has a lot of nearby CRU space would be nice here.

I think the zoning forces them to have retail facing Jasper Ave. This proposal was great cuz it had townhouses facing 123 and some retail in Jasper.

 

[David A]

I think the zoning forces them to have retail facing Jasper Ave. This proposal was great cuz it had townhouses facing 123 and some retail in Jasper.

I have mixed feelings about this. I would like to see more retail in the area and along Jasper Ave, but there is a fair amount of retail space that has already been added in other residential buildings built in recent years.

Having too much empty retail space in the area or not having needed residential added because of this requirement would be unfortunate.

 

[LibraLibro]

Is it a possibility that the owner of this lot is waiting for the lot next door (optician etc) to be available before planning/building something?

 

[cmd uw]

Minto is in the process of selling sites/assets to pay down debt. They have been off loading a number of buildings/sites across the country over the past several months.

 

[David A]

Is it a possibility that the owner of this lot is waiting for the lot next door (optician etc) to be available before planning/building something?

Was that really the original intention, because if so, it seems like they have been waiting a long time?

 

[_urbanite]

Minto is in the process of selling sites/assets to pay down debt. They have been off loading a number of buildings/sites across the country over the past several months.

They recently sold both the York Tower and Lancaster Tower apartments in Oliver to Leston Holdings,