Stationlands Residential Towers | 90m | 25s | Qualico | DIALOG

What do you think of this project?

  • Total voters
    72
Something that was proposed but didn't happen five years ago doesn't say to me that we are high on their radar. Its kind of like the person you were interested in who has ghosted you.
 
Inexperienced developer, partners with out of town group with high expectations given this is Edmonton's 'premier' urban street and their recent success' in MTL/Tor; they launch and fall flat with almost no interest in what was one of the most top notch overall projects to date.

Bad timing, non-existent condo market, higher price point.
 
It probably didn't help that sticking a major hotel on the 4th St Promenade would have required underground parking and a dedicated entry/exit for guest check-ins, taxis, etc.

I would much rather see an ALT Hotel on the BMO site (assuming Regency quits farting around) or in the Allard parking lot across from Stationlands (and thus bringing this discussion back on topic ;) ).
 
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MisterSartorial said:
They are definitely aware of Edmonton. In fact, an Alt+ hotel was supposed to go into the abandoned Mackenzie Tower project a mere five years ago. Sadly they haven't returned to try another option. Lost in the haze of the pandemic I suppose.
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I was under the impression that is wasn't much of a serious building proposal and more of a rezone and resell, could be wrong though. I am pretty sure though that the proposed design is a fairly generic design (as in not made specific for the proposal) as I remember it being a downloadable asset in the original cities skylines game
 
SMayo said:
I was under the impression that is wasn't much of a serious building proposal and more of a rezone and resell, could be wrong though. I am pretty sure though that the proposed design is a fairly generic design (as in not made specific for the proposal) as I remember it being a downloadable asset in the original cities skylines game
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It was an actual project that was well passed a rezone and sell. They actually were in the process of preselling condo units in the building and I remember taking a look at their marketing materials at the time while considering buying a unit. The condo market was (and still is) soft and the project died. Other than The View, I think this was the last condo project proposed in downtown that I can recall. Obviously The View went forward but sales were flat lined and last year the project was converted to rental due to the lack of sales.
 
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CaptainBL said:
It was an actual project that was well passed a rezone and sell. They actually were in the process of preselling condo units in the building and I remember taking a look at their marketing materials at the time while considering buying a unit. The condo market was (and still is) soft and the project died. Other than The View, I think this was the last condo project proposed in downtown that I can recall. Obviously The View went forward but sales were flat lined and last year the project was converted to rental due to the lack of sales.
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Was The View converted to rentals due to lack of sales? I thought pre-sales were pretty strong and when it was finally finished construction there weren't that many units left to sell?
 
TAS said:
Was The View converted to rentals due to lack of sales? I thought pre-sales were pretty strong and when it was finally finished construction there weren't that many units left to sell?
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Yes, there were a number of units that had remained unsold and quite typically a developers profit is in the remaining units so it was more cost effective for them to buy back the owned units then convert the entire building to rental last year. Doing this they were able to get CMHC financing and take their equity out.
 
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