The Augustana | 96m | 30s | Pangman | DIALOG

What do you think of this project?

  • Total voters
    46
Awkward?

Good density, decent lunchtime crowd, across from the Leg, decent parking.

I'd love for The Marc to move there.
 
The area is a dead zone after 5 PM. I see the potential of the area but its just not there yet.

I would also love for The Marc to move in there. Funny enough I was actually wondering the other day if they would consider it. One of the best restaurants in the city.
 
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#702 10504 99 AV NW, Edmonton, Alberta T5K1B2
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I would bet the Marc is paying 50% less where they are now over the ask for the Augustana space. No reason to move and the Marc is successful where they are. Does the Augustans space have a large outdoor patio available?
 
There were plans for a patio along 107st which would suffice.

I chatted with Patrick a few weeks ago and specifically asked him about just that topic and they were certainly approached, but are happy where they are.
 
I've noticed that with some other buildings that are primarily residential, with some commercial on the main level, that the commercial space can be an afterthought for the property managers and not really their priority.
 
ChazYEG said:
I wonder how much they're asking on the leases. It HAS to be extremely high, because these CRUs are well located enough to be leasing up (even if slowly), and we've seen stuff open not too far from them recently.
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I have no clue what the asking lease rate is, but I would assume that is not the largest contributing factor here.

This just isn't an attractive spot for a new business. The heartbeat of this intersection is government workers, and in a post-pandemic world, we just aren't seeing that critical mass of daytime workers here anymore.

I think the downtown residential activity mostly spends their cash around (and north of) Jasper Ave at key corridors like 109th, 104th, & Ice District.

Plus, I can't even imagine how expensive it is to be a first tenant and have to fit the entire space out. There are retail bays in the area where the HVAC, plumbing, etc, is largely done and would require a renovation instead of full construction.
 
strata said:
I have no clue what the asking lease rate is, but I would assume that is not the largest contributing factor here.

This just isn't an attractive spot for a new business. The heartbeat of this intersection is government workers, and in a post-pandemic world, we just aren't seeing that critical mass of daytime workers here anymore.

I think the downtown residential activity mostly spends their cash around (and north of) Jasper Ave at key corridors like 109th, 104th, & Ice District.

Plus, I can't even imagine how expensive it is to be a first tenant and have to fit the entire space out. There are retail bays in the area where the HVAC, plumbing, etc, is largely done and would require a renovation instead of full construction.
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Even pre-pandemic this was a 'C' location. Sure it's new space, but there's not much action in this area outside M-F 8-430pm and even then it's so-so.
 
Yeah I believe I mentioned this exact issue earlier on in this thread, but the location just isn't very ideal for a restaurant. A business here cannot just rely on day time government workers anymore, especially with WFH and hybrid work models being prevalent across most of the public service. As well, even if a group wants to go grab a drink or bite to eat after work, I would imagine most would rather head down to 104, 109 or somewhere along Jasper ave.
 
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