Calgary SSP Development Listing

[Madman]

My Sukiyaki soup addiction doesn't like this news.

[Ducay]

Originally Posted by Madman

My Sukiyaki soup addiction doesn't like this news.

You mean freshly roast turkey sandwich, right?

[Bill Bumface]

Originally Posted by Ducay

I have work events at Unicorn a few times a month, and the place is a dump. Nothing of value is lost....unless you like sticky floors and 7ft ceilings.

I like sticky floors and 7ft ceilings.

Everything doesn't need to be shiny and new. Especially when it comes to pubs. Cozy and old is awesome!

[Hack&Lube]

Originally Posted by Bigtime

Also trying to find out if the beautiful staircase in the Lancaster is going to be saved, I haven't seen it in a while but it is a really standout piece of that building. Everything so far indicates it would get junked, which would be a damn shame.

Yeah that really sucks if it's going. Those were the last vestiges of the 1920s era of that classic building although you can still see some of the dark wood and moulding around where they put in that horrific 90's food court plaster.

[surferguy]

Originally Posted by hulkrogan

I like sticky floors and 7ft ceilings.

Everything doesn't need to be shiny and new. Especially when it comes to pubs. Cozy and old is awesome!

Wouldn't you hit your head?

[ranchlandsselling]

http://calgaryherald.com/business/co...claire-project

Real estate developer Bentall Kennedy has purchased the 3 Eau Claire project site in downtown Calgary, which had gone into receivership, the Herald has learned.

[J pold]

Originally Posted by ranchlandsselling

http://calgaryherald.com/business/co...claire-project

Shared this on Linkedin last week. They are in talks with Shaw to take up a position in the building.

[Bunk]

Originally Posted by J pold

Shared this on Linkedin last week. They are in talks with Shaw to take up a position in the building.

That makes sense as to why Bentall was so keen on this site. Shaw was meant to go into 3 Eau Claire, developer couldn't get financing together (for some reason), Shaw pulled out because it was taking too long/not enough certainty, development went bust. Bentall took over, likely because they have some indication Shaw would still be willing to locate on that site.

[ranchlandsselling]

Originally Posted by Bunk

That makes sense as to why Bentall was so keen on this site. Shaw was meant to go into 3 Eau Claire, developer couldn't get financing together (for some reason), Shaw pulled out because it was taking too long/not enough certainty, development went bust. Bentall took over, likely because they have some indication Shaw would still be willing to locate on that site.

And because they can pretty much build without debt or minimal if they want to. Get a good deal and prospective tenant can have faith that the project will proceed vs. the last guys.

[J pold]

I had a coffee with a guy from Bentall last week. He wouldn't tell me the number but apparently they paid an very high price for the land. I wonder what sort of rents their pro-forma will have in order to justify the land costs.

[SebC]

Can we still expect 3 Eau Claire to have a large residential component under Bentall?

[Bunk]

Originally Posted by SebC

Can we still expect 3 Eau Claire to have a large residential component under Bentall?

Yes

[Harju]

Originally Posted by J pold

I had a coffee with a guy from Bentall last week. He wouldn't tell me the number but apparently they paid an very high price for the land. I wonder what sort of rents their pro-forma will have in order to justify the land costs.

Bentall's offer was $39.6 million +/- closing adjustments, so I assume that's what they paid. The details and Agreement for Purchase and Sale has been publicly available on Deloitte's website for some time in the 1st Report of the Receiver.

[ranchlandsselling]

Originally Posted by Harju

Bentall's offer was $39.6 million +/- closing adjustments, so I assume that's what they paid. The details and Agreement for Purchase and Sale has been publicly available on Deloitte's website for some time in the 1st Report of the Receiver.

$39 was also in the hearld article presumably gotten from the website.

[Ozy_Flame]

From Skyscraper Forums . . . Perhaps the Cecil stays?

http://calgaryherald.com/news/local-...il-may-be-next

Klaassen says she is also impressed with what they’ve done with the 103-year-old Simmons building a few blocks away. “It’s going to be a great destination on the waterfront,” she says of the building that’s slated to open next summer, with such treasured local institutions as Sidewalk Citizen Bakery and Phil & Sebastian Coffee Roasters as tenants.

“I give them a B,” says Klaassen of the efforts being made to preserve the remaining historical structures in the East Village. “But if they could save the Cecil Hotel, then I’d bump that to an A.”

While he is not making any promises, Michael Brown says such a rebirth recently came one step closer to reality.

“We just purchased it from the city,” he says of the long-shuttered Cecil.

“We’ll be doing an assessment on it, to see if it can be restored — we will definitely see what we can do to make it a functional part of the community.”

[Makarov]

Originally Posted by Ozy_Flame

From Skyscraper Forums . . . Perhaps the Cecil stays?

http://calgaryherald.com/news/local-...il-may-be-next

Klaassen says she is also impressed with what they’ve done with the 103-year-old Simmons building a few blocks away. “It’s going to be a great destination on the waterfront,” she says of the building that’s slated to open next summer, with such treasured local institutions as Sidewalk Citizen Bakery and Phil & Sebastian Coffee Roasters as tenants.

“I give them a B,” says Klaassen of the efforts being made to preserve the remaining historical structures in the East Village. “But if they could save the Cecil Hotel, then I’d bump that to an A.”

While he is not making any promises, Michael Brown says such a rebirth recently came one step closer to reality.

“We just purchased it from the city,” he says of the long-shuttered Cecil.

“We’ll be doing an assessment on it, to see if it can be restored — we will definitely see what we can do to make it a functional part of the community.”

That would be great. I have some fond memories of that place (well, the tavern).

[calgarygeologist]

Originally Posted by Ozy_Flame

From Skyscraper Forums . . . Perhaps the Cecil stays?

http://calgaryherald.com/news/local-...il-may-be-next

Klaassen says she is also impressed with what they’ve done with the 103-year-old Simmons building a few blocks away. “It’s going to be a great destination on the waterfront,” she says of the building that’s slated to open next summer, with such treasured local institutions as Sidewalk Citizen Bakery and Phil & Sebastian Coffee Roasters as tenants.

“I give them a B,” says Klaassen of the efforts being made to preserve the remaining historical structures in the East Village. “But if they could save the Cecil Hotel, then I’d bump that to an A.”

While he is not making any promises, Michael Brown says such a rebirth recently came one step closer to reality.

“We just purchased it from the city,” he says of the long-shuttered Cecil.

“We’ll be doing an assessment on it, to see if it can be restored — we will definitely see what we can do to make it a functional part of the community.”

It will be interesting to see if they can salvage the building but taking it down wouldn't be that big of a loss. It hasn't retained the character that many historic buildings have even if it was brought back to the original brick facade.

[octothorp]

To me, the Cecil absolutely sucks in terms of street presence: the total lack of ground floor windows, apart from those glass block windows, makes it imposing and oppressive. But historical photos show that it used to have fantastic large windows all along the street face.

Compare:




If they're talking about just stripping off the paint, then I'm pretty 'meh' about saving it. But if they think they can restore it in-line to the original design, then good lord yes please!

[Muta]

I'm a huge fan of architecture, design and restorations, but some people get way too nostalgic over old buildings. Just because it's old doesn't mean it should stay.

I'd like to see the Cecil torn down, and those three square blocks in that area completely re-developed from head to toe (including an updating of that ####ty 4th Avenue flyover). Maybe name the new development 'the Cecil' in honor of what was once there, but that's it.

[Ducay]

Originally Posted by Muta

Maybe name the new development 'the Cecil' in honor of what was once there, but that's it.

If there's one way to attract expensive tenents or residential buyers, its to name the building 'The Cecil'.

Coincidentally, Bentall will soon be developing a new 42-story, mixed use tower "the Crack Macs".

Presale deposits for both are taken exclusively in bottles & cans.