BKha
Active Member
The balls are dead?
- Thread starter Skyfire
- Start date
FCC1982
Active Member
May I present to you, the Calgary Tower’s “Balls”:
haltcatchfire
Senior Member
Thank goodness that design was castrated!
Duck Lightning
Senior Member
I'm curious to hear what everyone actually wants built to replace Palliser Square / Palliser parkade. I've heard ideas on this forum about new train stations, but what else?
maestro
Senior Member
Something complimentary to the tower. No, I don't mean balls. I'm referring to the tourist trap. A museum to Alberta's obsession with world's largest object monuments? Wax museum of famous people wearing white cowboy hats at Stampede? An interactive Lego museum as who here hasn't built skylines with Lego.
Mountain Man
Senior Member
Just replace the current street interface with something modern and inviting and it's good. Having theatres and souvenir shops in there is a good use, just make it attractive from the street.
CalgaryTiger
Senior Member
This looks very familiar to the Bell building on the southeast side of these buildings, is that part of this development?
Mountain Man
Senior Member
Yes, that one is called Palliser South, the Balls were Palliser 2 & 3 (the precast building that was reclad is Palliser One as per the title of this thread).
crisp
Active Member
Seen latest iteration of residential conversion plans. It's pretty much going to be the last rendering with the cantilevered cut-out on the 16-17th floors. Floors 15 and below will have a whopping 20 units per floor, 18 and above will have 18. Full window replacement on the entire building (the last spec not yet confirmed). Significant changes to the landscaping outside the building as well.
The most impressive part of the design is the amenity space on the 16 and 17th floor. It's going to be an amazing gathering space if it turns out anything like the renderings. 17th will have concrete cut out to be open to below. The units will have exposed concrete ceilings allowing for 13 feet in height, except for bedrooms which will have drywall to 9 feet.
A major hurdle that has stalled this project is getting the current office tenants out to new spaces, with two major tenants in the building. This is almost complete now, conversion will most likely start 2025.
The most impressive part of the design is the amenity space on the 16 and 17th floor. It's going to be an amazing gathering space if it turns out anything like the renderings. 17th will have concrete cut out to be open to below. The units will have exposed concrete ceilings allowing for 13 feet in height, except for bedrooms which will have drywall to 9 feet.
A major hurdle that has stalled this project is getting the current office tenants out to new spaces, with two major tenants in the building. This is almost complete now, conversion will most likely start 2025.
DougB
Active Member
So the reclad will happen only a few years after the previous reclad?
crisp
Active Member
There will be no reclad, only the 16/17th floor cantilevered amenity space is the major change to the exterior. As well as new windows that are more energy efficient and can be opened.
DougB
Active Member
I would have thought the previous reclad included new windows
heritageguy
New Member
Crisp, do you know who they are bringing in as a partner?
crisp
Active Member
No new partners have been confirmed, Aspen senior management is keeping pretty hush about all that but they seem really busy around the office.
CalgaryTiger
Senior Member
Timbercreek Alternatives sees opportunity in CRE 'trough'
Timbercreek Alternatives has hit the ground running, naming Fraser McEwen as its president and entering a joint venture to renovate a downtown Calgary office building into residential rental apartments.
renx.ca
Mentions Palliser One:
1 Palliser Square LP
Timbercreek Alternatives has just entered a joint venture with Aspen Properties to form 1 Palliser Square LP, which intends to complete a private placement offering to raise capital for converting approximately 418,000 square feet of space at downtown Calgary’s 27-storey Palliser One office building into approximately 420 residential rental units and amenities.
There will be a “meaningful portion” of affordable rental housing included in the project, according to McEwen.
Aspen Creek currently owns 10 per cent of the 54-year-old building and this joint venture aims to acquire the 90 per cent owned by an undisclosed pension fund. Capital is being raised by a syndicate of agents and closing is expected to be on or about Sept. 10.
The City of Calgary will contribute $75 per square foot of office space converted to living space for the property at 125 9 Ave. SE.
“You're taking a vacant office building and effectively creating residential stock, which is much needed in Canada, and you're also bringing vibrancy back to those local areas that otherwise would be sitting empty because you don't have the foot traffic anymore,” McEwen said.
Zoning is in place for the conversion and McEwen would like to see it start in early 2025.