What do you think of this project?

  • Total voters
    62
IanO said:
Hearing that this one is not going anywhere anytime soon from a couple of folks.
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"It was speculation, I know...
That made me stub my big toe"
"A couple of folks" that shall remain nameless -- standard practice from the guy who will use any amount of diversion to allow the lips to move and the tongue to wag, signifying nothing.
 
Any reasons given by those folks? I would assume financing issues #1?
 
I thought Alldritt was closing on the purchasing of this property by the end of this month? I'm so confused. :(
 
Sure they do... 🤔 I only "harp" because of the Trumpism that you constantly employ. Trump says "Other people say... or "I have heard people say... 'O says " Hearing that... from a couple of folks."
 
archited said:
Sure they do... 🤔 I only "harp" because of the Trumpism that you constantly employ. Trump says "Other people say... or "I have heard people say... 'O says " Hearing that... from a couple of folks."
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Respectfully @archited, where are you getting your information and confidence in information from? I don't recall a post in which you have mentioned your sources or why you are so sure to bet your reputation on this. I am not challenging you, but many of us that don't have inside industry information come here to read about what is going on in the Edmonton development community and ironically while you are giving it to Ian about his sources, I haven't seen you disclose yours.

You both seem to have polar opposite information about what is going on with this project and neither of you are disclosing so what makes you so sure that your information and sources are accurate and that something is going to happen?
 
As weird as it might sound, I'll back @IanO information here. While for professional and legal reasons I cannot disclose sources, funding for this kind of project is scarce and financing it will be a challenge.

Not to say that there's not a lot of money out there begging to be deployed, especially in the "quasi-post-covid" world, but the lenders and venture capitalists are preferring clean energy and tech, high-end hospitality (resorts, etc...) and infrastructure (transportation, mostly). Other than that, there's some appetite for rental units, at least in the 5 largest cities in Western Canada (Calgary, Edmonton, Vancouver, Victoria and Kelowna), with a shorter turnaround time (18 to 30 months to occupancy).

I wouldn't say this project is dead on its tracks, but I'd bet on a few extra months (12 to 24) being added to their timeline.
 
And I can't share details of what is coming because there are sensitive negotiations on track. Of course speculation abounds and I understand that, but quoting "a couple of folks" hardly leads to substantiation -- neither do generalizations regarding economic conditions.
 
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