Calgary SSP Development Listing

[you&me]

Originally Posted by J pold

Calgary Co-op to purchase the Marada Loop Village site and develop a new grocery store concept with residential units above the main floor.

https://calgaryherald.com/business/l...-in-marda-loop

I've always thought that site was the most important remaining property in Marda Loop.

Unfortunately, all of Co-ops other recent projects have been big steamers... I'm cautiously optimistic that they'll select a quality design firm and development partner, but the market doesn't really support any level of extravagance and I'm expecting a bargain-basement project at the most critical site in the neighbourhood.

[cam_wmh]

Originally Posted by you&me

I've always thought that site was the most important remaining property in Marda Loop.

Unfortunately, all of Co-ops other recent projects have been big steamers... I'm cautiously optimistic that they'll select a quality design firm and development partner, but the market doesn't really support any level of extravagance and I'm expecting a bargain-basement project at the most critical site in the neighbourhood.

Which recent Co-op projects have been failures? I’m unfamiliar, but am a huge fan of the Uptown Co-op location.

[Nsd1]

I think I read last year the Co-op was changing up their business model to be more on the development side.

They closed their store in my area because they weren’t able to get approval to renovate their store into a mix used building.

https://www.calgarycoop.com/about/fa...d-real-estate/

[Brewmaster]

Telus Sky building looks to be attracting some commercial tenants from the tech sector:

Absorb Software, a learning technology company, will be taking office space in the 60-storey skyscraper in the heart of Calgary which is expected to officially open at the end of this month.

https://renx.ca/tech-absorb-software...ary-telus-sky/

[you&me]

Originally Posted by cam_wmh

Which recent Co-op projects have been failures? I’m unfamiliar, but am a huge fan of the Uptown Co-op location.

I didn't call the Co-op projects "failures"; I said they're "steamers", as in, they ugly.

From an amenities and vibrancy stand point, Co-op will be a benefit to the area. I just hope that we don't end up with a bunch of brick, stucco and blank walls (aka, ugly).

[cam_wmh]

Gotcha. Well, it’s gonna be an upgrade on that bland grey stucco that’s there now.

[_Q_]

I live right next to this marda loop development. I'm super excited to see what they make of this site.

[J pold]

Originally Posted by Brewmaster

Telus Sky building looks to be attracting some commercial tenants from the tech sector:



https://renx.ca/tech-absorb-software...ary-telus-sky/

This is a really great deal/news for the City.

Colliers represented the Landlord on this deal [Westbank/Allied] and it’s fantastic to see anchor tenant for the project. Absorb will be moving out of the Atlantic Art Block in Inglewood and leaving their old space behind but it’s nice and should lease fairly quickly. There is still a lot of space left at Telus Sky to lease up and the design/floor-plate makes it tricky for standard oil & gas/legal users so it will have to be tech/co-working to fill it up. It would be great to see a pure out of town tech firm take space in the project which they haven’t found to date, although there is a rumor the Google is taking 30,000 SF in the beltline so maybe we’ll see more of that.

[Ozy_Flame]

Where is this Google rumor coming from?

[Rando]

Originally Posted by Joborule

There's also the 16 Ave location, which I believe is going to start this year.

As well their Brentwood location is going to be transformed, although I think that's on hold currently.

Didn't they somewhat recently renovate the Brentwood co-cop? Five years ago

Is the 16th avenue one delayed/on hold? It was announced some time ago now.

[J pold]

Originally Posted by Ozy_Flame

Where is this Google rumor coming from?

It’s just out there on the street but nothing confirmed. Rumor is they are taking space in the old IBM Campus on 11th:

That site was bought last year by a group out of San Francisco called Spear Street Capital. Apparently Google and Spear Street have a relationship so it was an in-house deal. Also heard that it won’t be a flagship site for Google. No advertising or any identification knowing they are there. 100% back shop worker type stuff.

[Joborule]

Originally Posted by Rando

Didn't they somewhat recently renovate the Brentwood co-cop? Five years ago

Is the 16th avenue one delayed/on hold? It was announced some time ago now.

They may have done some paint job, but I don't the interior had any major renos done. They're planning to build a new co-op in the parking lot lands, and replace the current location with condos.



https://engage.calgary.ca/brentwoodcoop

Don't know about the current status of the 16th ave one. It says on their website phase 1 is suppose to be done late this year, but not sure what phase 1 consists of if that's still on track...

https://www.calgarycoop.com/about/fa...te/north-hill/

[getbak]

At the 16th Ave store, a few weeks ago, they started doing some construction inside the Co-op store (which is quite annoying because it was already too small). The sign says they're building a credit union branch inside the store.

Presumably, once that's complete, the Credit Union will move out of their existing building, which will make way for the new Co-op store.

[Bigtime]

This is bonkers:

https://twitter.com/user/status/1231983029784055814

[rotten42]

Originally Posted by J pold

This is a really great deal/news for the City.

Colliers represented the Landlord on this deal [Westbank/Allied] and it’s fantastic to see anchor tenant for the project. Absorb will be moving out of the Atlantic Art Block in Inglewood and leaving their old space behind but it’s nice and should lease fairly quickly. There is still a lot of space left at Telus Sky to lease up and the design/floor-plate makes it tricky for standard oil & gas/legal users so it will have to be tech/co-working to fill it up. It would be great to see a pure out of town tech firm take space in the project which they haven’t found to date, although there is a rumor the Google is taking 30,000 SF in the beltline so maybe we’ll see more of that.

Curious as to why you think the floor plate is tricky? Compared to other buildings I have worked on with clients (many O&G), this floor plate is quite easy to deal with. I must have initially come up with about 8 different floor plans for them based off of wildly different space/furniture and functional requirements. Now the old Telus tower was a big steaming pile of poo to plan.

[J pold]

Originally Posted by rotten42

Curious as to why you think the floor plate is tricky? Compared to other buildings I have worked on with clients (many O&G), this floor plate is quite easy to deal with. I must have initially come up with about 8 different floor plans for them based off of wildly different space/furniture and functional requirements. Now the old Telus tower was a big steaming pile of poo to plan.

My understanding is that the design/shape of the tower, along with the residential floors above created a lot of interior structural columns to design around. Not a big deal if you're an open plan user but a traditional closed office O&G/legal use it can creates a poor floor density.

That all being said I'm not an architect so I could be way off base on that.

[J pold]

Originally Posted by Bigtime

This is bonkers:

https://twitter.com/user/status/1231983029784055814

Yeah this is crazy. I feel for the owners of the building. They aren't some major REIT with a diverse portfolio and deep pockets. My understanding is they are mostly private one off investors who are left holding the bag.

Husky just put ~200,000 SF of good quality sublease space on the market at the start of this year and First Alberta Place [777 8th Avenue] has another ~175,000 SF of vacant headlease space. That's nearly 1 million SF of vacant space in a block and a half on 8th avenue.

[Weitz]

Originally Posted by J pold

My understanding is that the design/shape of the tower, along with the residential floors above created a lot of interior structural columns to design around. Not a big deal if you're an open plan user but a traditional closed office O&G/legal use it can creates a poor floor density.

That all being said I'm not an architect so I could be way off base on that.

There is really only 1 thing that matters in O&G office space requirements these days: $$$$$.

[rotten42]

Originally Posted by J pold

My understanding is that the design/shape of the tower, along with the residential floors above created a lot of interior structural columns to design around. Not a big deal if you're an open plan user but a traditional closed office O&G/legal use it can creates a poor floor density.

That all being said I'm not an architect so I could be way off base on that.

I found it to be quite easy to work with. There are large columns but they are against the window walls. It isn't the best layout but nowhere near the worst.

[powderjunkie]

Originally Posted by Bigtime

This is bonkers:

https://twitter.com/user/status/1231983029784055814

Seems like a pretty good geographical location for a residential convert...