Manulife Place Renovations | 145.99m | 36s | Manulife Real Estate | MdeAS

What do you think of this project?


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soupcrate

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It's pretty easy to tell who a lot of these people are in real life, so if they are legally/professionally required to keep things confidential I can understand the vagueness.

Plus, I prefer hearing vague rumors over nothing at all, so I don't mind. The deal is they can be vague, but then they can't get upset if we ask them for more details.
 
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Abba

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A couple people are reporting that. Curious if someone can confirm or deny.
I have also heard this... Manulife is a ghost town. Yes, almost all of the retail is gone, but several companies are also vacating the offices above, too.
 

Abba

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Retailers still remaining at Manulife include Henry Singer (the only one left on the first floor), Headlines, BLU'S, Night Owl Lingerie, Jamieson Opticians and Vandenbergs Jewellers.

Ah, Henry Singer. Every time I walk by I'm amazed it's still there!
 

David A

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I have also heard this... Manulife is a ghost town. Yes, almost all of the retail is gone, but several companies are also vacating the offices above, too.
I go through the second level regularly, yes ghost town is a good description. Having said that, there really isn't much left on the retail side, so I believe odds are someone will take some of the vacant space rather than more tenants leaving.

I think the owners and management of Manulife have mismanaged the situation over the last few years and that hasn't helped either. I believe they don't fully get they are not the premium space they once were. For instance, they should have used the downtime of the last few years to redo the podium. They had a good design and it seemed ready to go, but then got put on hold - bad decision! It is more difficult to entice someone new into a tired thirty year old space.

As for the office tower, I expect with COVID receding and people going back to the office that will stabilize and improve, but it could be a slow process.
 

occidentalcapital

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Major investments help to keep properties up to date. I agree Manulife has languished and is no longer as premium as it once was. Landlords have to up their game to be competitive, renovate, reposition and refresh. You need to pay as much attention to your assets in Edmonton as you do in Toronto or elsewhere and be creative to see results.
 

Abba

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I go through the second level regularly, yes ghost town is a good description. Having said that, there really isn't much left on the retail side, so I believe odds are someone will take some of the vacant space rather than more tenants leaving.

I think the owners and management of Manulife have mismanaged the situation over the last few years and that hasn't helped either. I believe they don't fully get they are not the premium space they once were. For instance, they should have used the downtime of the last few years to redo the podium. They had a good design and it seemed ready to go, but then got put on hold - bad decision! It is more difficult to entice someone new into a tired thirty year old space.

As for the office tower, I expect with COVID receding and people going back to the office that will stabilize and improve, but it could be a slow process.
Our lease just ended and we are moving out. I know a couple others that are as well. As you said, they certainly are not the premium tower they once were and there is an abundance of better options downtown.
 

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