Stantec Tower | 250.84m | 66s | ICE District Prop.

What do you think of this project?

  • Total voters
    60
kcantor said:
i don't think it is "a pretty simple and generalized way of looking at everything".

what's being identified here is the risk factor relating to factors completely outside the scope of the negotiations themselves. for both sides, there is a risk that factors outside the control of either party place the project at risk. these are items that neither party can control which it is why it is incumbent on both sides to complete their negotiations as expeditiously as possible. the legal term for it is that "time is of the essence".

in this example, the end of the boom was identified as a risk to be avoided. similar risks would be interest rates, construction costs, public policy, third party circumstances including bankruptcy, exchange rates etc.
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'Time is of the essence' is specific to contract law, is it not? The negotiation process was about more than the contract, no? My point was the post wasn't specific to the establishment of the contract. Also, we don't know the nuances of how long the contract negotiation took or continues to take for that matter. Multiple companies have come and gone throughout the entire project with several layers of sub-contracts across each building. I think it is easy to look at this project in hindsight and without the full understanding of the nuance to criticize from the outside looking in.
 
It doesnt matter the acuteness of the contract. The reality is this, the boom bust cycle is around 15 years. It started roughly in 2000. The boom ended 2015. The Arena commence construction when,? That is all I'm saying. It is easier to sell products to consumers when they were not worried about income as they are now. Like Ken said, "time is of the essence".
 
@Clearshades I wouldn't consider 2008 a "boom" year personally but okay go off...
 
Edmonton was never affected by 2008's US Mortgage breakdown until 2015 Oil prices dropped. As per the "boom" I was refering directly to oilsands and Edmonton...

Don't misinterpret it as a negative thing. This was a great lesson for all to learning ,especially going forward. This came to light after I thoroughly revisited the entire process from start to the point of completion and said, "what went wrong"? The thing that constantly came up during the rumination process was 5 years of negotiations, 3 years of hard construction with on going processing of constructing yet to be completed. That is, 8-10 physical years of the 15 years during the boom that could have been used to sell. Edmontonians had plentiful cash for one to lure during that time. In essence, they took advantage of 1/3 of that boom in very inefficient manner; they constructed during the downturns stages or latter end.
 
Clearshades said:
It doesnt matter the acuteness of the contract. The reality is this, the boom bust cycle is around 15 years. It started roughly in 2000. The boom ended 2015. The Arena commence construction when,? That is all I'm saying. It is easier to sell products to consumers when they were not worried about income as they are now. Like Ken said, "time is of the essence".
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Yep. We have definitely moved into the mitigation strategy.
 
Scotiabank:

Description: To construct interior alterations to a Suite in a commercial mixed use building, Stantec Tower, Landlord work provisions. Future TI by others, Level 1 and Level 2 Landlord Provisions for Future bank tenant occupying space on both floors. Work includes floor opening for new stair and elevator, and new demising wall / misc mechanical and electrical provisions. Future tenant Improvement by others ** Note this application is for Unit #101 (the address selector would not allow me to enter)
Permit date: December 4, 2020
Type: Building Permit
Subtype: (03) Interior Alterations
Category: Commercial Final
Class: Mixed Use (522)
Status: Issued
Address: 100, 10220 - 103 AVENUE NW
Neighbourhood: DOWNTOWN
Zoning: AED
Value: $350,000.00

Description: To construct Interior and Exterior Alteration - Scotiabank Tower E - New tenant fit out including interior and exterior work
Permit date: December 4, 2020
Type: Building Permit
Subtype: (03) Interior Alterations
Category: Commercial Final
Class: Office Buildings (520)
Status: Issued
Address: 100, 10220 - 103 AVENUE NW
Neighbourhood: DOWNTOWN
Zoning: AED, AED
Value: $3,042,375.00

(Pretty sure "Scotiabank Tower" is an error)
 
We need a picture here of Stan,
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and Stan and Mary,
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Today, whilst on my 99 mile walk around Avonmore, I was reminded of the presence of the Ice District monsters. I hope the rest of the district will rise to the occasion during this... decade. Obviously such a disturbing start to a new decade and all things aside of course, time will tell. But damn their tall!
 

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Grandinite said:
Last night TSN was showing some very nice winter skyline shots during their World Junior's coverage. All the buildings was all light up nicely....except for the top section of Stantec. The tallest building west of Toronto with the lights off
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Sounds about right. A classic Edmonton-style fail. Why this city continually falls flat on its face to world audience never ceases to amaze and mystify.

Reminds me of the unveiling ceremony for the naming of Wayne Gretzky Drive. Gretzky looked on as the tarp got stuck. Moments like these always take me back to that memory, and the puzzled look on his face. Bless your heart, Edmonton.
 
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