Avenuer
Senior Member
They also got the 2021 Construction Grant for this site and they risk an agreement breach if they don't finish the second tower, just unsure of how long they have to get that done though.
- Thread starter Daveography
- Start date
TAS
Senior Member
Oh? That's good to know. I thought the grant would have just been for the one building.
ForestedImagination
New Member
The site just by Westrich's G4 and the proposed Grandin 2 tower? Is that actually moving forward still?
JNO1
Active Member
A very unscientific bit of evidence in terms of the if/when phase 2 will start - I downloaded a list of all the available suites from the Parks website into Excel. Current availability is as follows: 2 bachelor suites, 48 one bedroom suites, 80 two bedroom suites and 9 three bedroom suites for a total of 139 available suites. I can't remember how many suites are in phase 1 - 350 or so? That would put it at about 40% vacant. Not great news in terms a sooner rather than later start for phase 2.
Again just the results of my unscientific investigation here, so take with a grain of salt.
Again just the results of my unscientific investigation here, so take with a grain of salt.
MacLac
Senior Member
I look at it as how much is “occupied” rather than what is “vacant.” 60% occupancy after less than 1 year? Sounds pretty good to me! 211/350 occupied suites….sounds right
Barnaby
Senior Member
Weird location for a tower at the moment. Once the area is built up by Westrich & Autograph that won't be the case. The park sure helps alot.
I do think this build would have done much better in the short term on 104th St by the Arena.
I do think this build would have done much better in the short term on 104th St by the Arena.
archited
Senior Member
There should be an impetus for Phase II based on Concept Completeness.
thommyjo
Senior Member
Hopefully Parks 1 catches a big uptick this summer/fall.
It caught the end of a lot of projects coming online (Falcon 1, switch, enbridge tower conversion, then everything west of 109st too like mercury, hat122, abbey lane, Edward). So I’m not surprised it has been slower.
But with the park done this summer as a huge benefit and no new projects finished by fall (unless lotus is done?), there should be a lot less new inventory to absorb.
It caught the end of a lot of projects coming online (Falcon 1, switch, enbridge tower conversion, then everything west of 109st too like mercury, hat122, abbey lane, Edward). So I’m not surprised it has been slower.
But with the park done this summer as a huge benefit and no new projects finished by fall (unless lotus is done?), there should be a lot less new inventory to absorb.
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Kosy123
Senior Member
We don't have a lot finishing this year, we've only got these:
| Connect Tower - 100 units |
| Financial Building Conversion - 33 units |
| Lotus Park - 152 units |
| Williams Hall - 90 units |
It's 2027-2030 that we're going to probably have a lot of units come in every year.
David A
Senior Member
Yes, that is well under 500 units, so a lot of what has been already built but not occupied should be absorbed this year, which could then be when new construction happens either later this year or shortly after.
IanO
Superstar
Sounds like there is some positive impact from GOA return to work.
MacLac
Senior Member
What are we thinking here? I see Parks phase 2 here…….60% occupied after 1 year? The Switch took 2 years to reach 88% occupied.
Notice more refinement in the lower rise portion....
Notice more refinement in the lower rise portion....
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NicolBolas
Active Member
If it goes ahead it's one of the more compelling developments downtown.