[Friendmonton]

 

[Friendmonton]

My wildcard prediction is Westrich partners up with OEG and builds a residential tower there. Cheaper and quicker than their other proposal across the street.

 

[Dubas]

My wildcard prediction is Westrich partners up with OEG and builds a residential tower there. Cheaper and quicker than their other proposal across the street.

It is not them. Not sure a 6 storey wood frame matches the vibe that OEG wants.

 

[air_ic]

It would be a waste of the foundation if they build something short here. I remember years ago, during foundation pouring, I recall it being the largest raft slab foundation poured in the city? something like that?

 

[Stevey_G]

It would be a waste of the foundation if they build something short here. I remember years ago, during foundation pouring, I recall it being the largest raft slab foundation poured in the city? something like that?

The lack of underpinning limited the height but it's still good for like 40 stories.

 

[Airboy]

The lack of underpinning limited the height but it's still good for like 40 stories.

The Plan was for a min of 50 stories. The slab was smaller than Stantec Tower. Regrettably I did not get that slab. it was supposed to be something like 50-60 70 for the towers.

 

[MacLac]

Guessing a mixed use rental and hotel

 

[archited]

^ Could be one of Marriott's other brands -- Series by Marriott with a residential tower would make sense, limited by 44 stories of upward expansion -- 20 hotel and 24 apartment would be my guess. Their current mix in ICE seems to be working well for them. With the new Fan Park on the to-be-built schedule an additional Marriott brand makes sense particularly if they include the land on 104th Street in the mix -- potential for some real creativity downtown.

 

[IanO]

IIIIIFFFFF it is a hotel, I'd guess that it is ALT and a mixed use tower by a major developer/investment group from the east.

But I honestly am throwing darts at a wall.

 

[Offworld]

It is not them. Not sure a 6 storey wood frame matches the vibe that OEG wants.

Cinderblock FTW.

 

[MacLac]

You WANT it to be an ALT hotel but look at Marriott taking over the Universe with over a 50% market share, it HAS to be Marriott, which is not a bad thing……

 

[IanO]

Whatever the brand, no matter to me, it's more that we desperately need a series of modern offerings entering the market to push a few others to convert to apartments or reinvest.

A reminder that a few 'major events' have passed us by or will not come to this city until our hotel selection of 3.5-4*+ has improved.

 

[MacLac]

Couldn’t agree more…..we all want another new DT Hotel bad! It will be supported……kinda surprised it has taken this long for another hotel to be proposed

 

[IanO]

The challenge is that our RevPAR (revenue per available room) is exceptionally low, under 100 if I recall correctly. Our ADR (Avg. Daily Rate) is also very weak and at a level that hoteliers have told me that it's is a spot too low to justify major investments and occupancy continues to fall to somewhere in the mid 50s.

It's a challenge given our market, lack of business travel and WEM drawing people west from potential Downtown properties to boost those numbers.

 

[MakeYEGGreatAgain]

RevPAR is low mostly because the product is dated. Aside from the JW and Fairmont, everything else is pretty low quality downtown.

I stayed at the JW after Christmas and was surprised how busy the executive floor was over breakfast. People will gravitate toward new and shiny and will pay more for it.