The Plan, Stan...
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I like to guess... so here goes:
1. The ground floor commercial units should rent up pretty quickly considering proximity to ICE District and the fact that they blew their chances and ensconced banks where active retail might have gone.
2. The upper floors of the "historic structure" will be hotel amenities -- restaurants, bars, spas, lounges, etc.
3. The balcony-less lower floors of the tower will be hotel rooms.
4. The upper portion of the tower will be condos.
 
I like what I see in terms of simplicity. I guess they throw that concept out there for rezoning to get it approved and flip it if they can. Perhaps there are investors and/or hotel operators ready in the background to make this happen.
 
EdmTrekker said:
I like what I see in terms of simplicity. I guess they throw that concept out there for rezoning to get it approved and flip it if they can. Perhaps there are investors and/or hotel operators ready in the background to make this happen.
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Just like the last time where the guys from Montreal and Toronto were sold on our market and opportunity and then shocked when almost nothing had deposits and any firm sales. They packed up and went back home rather quickly; it was almost comical.
 
archited said:
A 10-storey Boutique hotel with amenities on 3 additional floors would do quite well in this area -- again proximity to the ICE district and a facility (the arena) that is likely to benefit from daily use (or close to it) as time marches on. Same is true for condos.
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Perhaps Edmonton will finally get a Le Germain or ALT branded hotel since Edmonton is literally the only major Canadian city without either of those hotels. But as said above, the track record, or lack of track record, of this developer does not demonstrate any previous success of developing a tower like this nor what it would take to land a hotel brand.

I truly hope the city is not allowing this to get torn down only for it to sit empty for a rezone flip.
 
We don't have the market for a Le Germain, but similar to the MacKenzie proposal I fully expect an ALT + to the hotel brand. Oddly enough, he had the hotel stuff wrapped up, but couldn't sell a condo for the life of him (or us).

Third times a charm?
 
IanO said:
We don't have the market for a Le Germain, but similar to the MacKenzie proposal I fully expect an ALT + to the hotel brand. Oddly enough, he had the hotel stuff wrapped up, but couldn't sell a condo for the life of him (or us).

Third times a charm?
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I'd argue we do have the market. JW and Le Germain serve a similar market and the JW has proven that there is that market in Edmonton that was/has been underserved. And Le Germain hotels are typically smaller in size than JWs.

Either way, even an ALT or other boutique hotel would be welcome especially in that area but I still throw a 5% probability anything gets done there. More than happy to be proven wrong on the third times a charm but fool me once shame on you fool me three times shame on me.
 
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