The Shift | 113.08m | 38s | Edgar | MCM Partnership

What do you think of this project?

  • Total voters
    28
Ya you’re right about them looking at the market but you gotta realize a new lrt opening at your doorstep definitely affects the market. Building it as the lrt opens and advertising it as a direct connection to the largest mall in north America wouldn’t be something they’d ideally want to miss.
 
IanO said:
Why wouldn't you time it to have the tower open as LRT opens and the park is already complete. I know that there were some concerns over access, logistics etc., but timing is everything I guess.
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I would think getting ahead of LRT construction would logistically benefit the company a great deal personally. Materials removal could funnel north on 106th st with much more ease and mustering constraints would probably be non existent with things as they are now.
 
No question that the alignment of construction and the LRT completion would benefit the lease up of the building tremendously. But lease up is only one part of the equation - debt is expensive right now, and the investment capital (which, for a project of this size would most likely be coming out of Toronto) is pretty skittish. Not to mention the LRT completion dates have been less than reliable - I see this one getting going once the rest of the surrounding activity is actually complete.
 
Hugh Jazz said:
No question that the alignment of construction and the LRT completion would benefit the lease up of the building tremendously. But lease up is only one part of the equation - debt is expensive right now, and the investment capital (which, for a project of this size would most likely be coming out of Toronto) is pretty skittish. Not to mention the LRT completion dates have been less than reliable - I see this one getting going once the rest of the surrounding activity is actually complete.
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Hopefully some lessons have been learned from the previous LRT line construction and operation delays, but I can understand the skepticism around deadlines not being met.
 
This transforming Edmonton story claims the Shift is under construction. Is this just a misprint?

transforming.edmonton.ca

University of Alberta revitalizes Enterprise Square and downtown Edmonton - Transforming Edmonton

Like many Edmontonians, Jeremy Cherlet didn’t spend much time downtown during the height of the pandemic. He’s now one of hundreds of University of Alberta employees working out of Enterprise Square in the old Hudson’s Bay Company Building on Jasper Avenue. They moved in last fall. Many of them...
transforming.edmonton.ca transforming.edmonton.ca

Three new downtown developments with more than 2,300 residential units are now under construction—including The Parks on 108 Street and The Shift on 106 Street.
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Must be a misprint. The three residential towers downtown under construction are The Parks, Station Lands and Falcon Towers.
 
Ya that's definitely a misprint. I think what they meant is two major projects got approved next to the Warehouse Park.
 
MacLac said:
But what if?……..are we missing something here? Maybe they haven’t broken ground yet but will soon?
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They aren't. Not even close. They have a couple of other projects that they have prioritized that are moving along in place of this one. Maybe...maybe next year depending on how the macro climate (and the obvious social disorder downtown) evolves.
 
I saw Henry at Iconoclast today. Should have asked him what the latest on this one was. I really think this one & the Parks will make downtown feel a little more continuous to 109st vs the massive hole of parking lots there currently.

Any sense if they would stagger the 2 towers in construction timelines?
 
Hugh Jazz said:
No question that the alignment of construction and the LRT completion would benefit the lease up of the building tremendously. But lease up is only one part of the equation - debt is expensive right now, and the investment capital (which, for a project of this size would most likely be coming out of Toronto) is pretty skittish. Not to mention the LRT completion dates have been less than reliable - I see this one getting going once the rest of the surrounding activity is actually complete.
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I suspect a lot of people have looked at the LRT debacle and said better to wait until we know when this is done (which given the lack of transparency or maybe just general confusion will likely be not much ahead of time).
 
Likely staggered, as Henry has a clause in his DC2 to allow for non-accessory parking in his podium parkade before the second tower is completed.

There is also concerns about building this while LRT and Warehouse Park construction are going on, not to mention this includes new streetscaping for 106 Street. His property will be surrounded by construction.
 
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