[maestro]

I agree, but also realize that in our capitalist world, the dollar is king. This will always happen with mixed-use structures except for maybe in the Middle East.

Good Christ, at least we're not getting Toronto's Trump Tower. What a gods-awful monstrosity that is.

Actually, I find floor heights for luxury residential in Canada to be the exception. They are built to 12 to 15 feet high in many markets across the US and Europe.

Trump Toronto is an ugly disaster every which way. I wonder what will become of it as I don't think rebranding will sell the condos.

 

[Myles86]

Update today!

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[Always_Biking]

The curve is coming through very noticeable now. Let's get past the 29th floor and then we can all celebrate.

 

[BKha]

A couple more weeks and we'll be at that point of do or die. I'm optimistic it's going to finish up as planned, but I'll feel better once they get onto the residential portion.

 

[maestro]

The office space is a bust. It's only 25% (?) preleased and it'll take years to sign another tenant. The residential could soften the blow. I could see them slashing floors off the top some time in the future should the rental market slow between now and 2018.

 

[DiscoStu]

Too bad these types of towers don't cater to small companies who can share facilities. I'd love to snap up like 500-1000 square feet of office space for my studio on the cheap, ha.

 

[JonnyCanuck]

The office space is a bust. It's only 25% (?) preleased and it'll take years to sign another tenant. The residential could soften the blow. I could see them slashing floors off the top some time in the future should the rental market slow between now and 2018.

I have heard that the rental suites are supposed to be high-end executive type which are planned for medium to long-term use. That would mean that expats or executives living in other Canadian cities but have Calgary based business interests, are the target customers. There may be have been demand for that kind of accommodation 4 or 5 years ago but how much is there now or will be in 2 years? Again all dependent on when oil & gas bounces back.

 

[maestro]

The plan is executive suites which has led to most if not all the capping rumours. It's not too late to change directions. Capping would hold more water if the office space wasn't a complete bust. The residential is the opportunity to save the project. That's how I think a REIT will look at it.

 

[darwink]

The residential part is much easier to break into investment vehicles for individual investors while still keeping it as rental apartments with a single rental pool. Could even include some measure of occupancy rights.

 

[Surrealplaces]

Looks like they are now on the Mechanical floor ion between the office and residential.

 

[Beltline_B]

The office space is around 33% leased, but yes quite a ways to go before it could be considered successful.

The thing in favour of Telus Sky is that the office space is only 400K . They may be able to attract tenants who only want a floor or two, but want to be in a shiny brand-new high-profile building.

The office space is a bust. It's only 25% (?) preleased and it'll take years to sign another tenant. The residential could soften the blow. I could see them slashing floors off the top some time in the future should the rental market slow between now and 2018.

 

[Mountain Man]

Did that tech company that just opened an office here sign a lease somewhere yet? this would be an ideal building for a company like that...

 

[Beltline_B]

They (Rocketspace) signed up for 75,000 ft.² of space in Encana Place.

Did that tech company that just opened an office here sign a lease somewhere yet? this would be an ideal building for a company like that...

 

[UrbanWarrior]

They (Rocketspace) signed up for 75,000 ft.² of space in Encana Place.

That's good news too though! Hopefully the start of a new trend. I think once Telus Sky is up and running, companies will just look at it and think "dang, we should be in there." Hopefully a few actually do it.

 

[Always_Biking]

They (Rocketspace) signed up for 75,000 ft.² of space in Encana Place.

Interesting. From what I've heard Encana Place is all but completely empty, so they must have gotten a sweet deal. 75k in Encana Place is what 4 floors? That's a lot of employees, much more than a startup.