General rating of this project

  • 1 Great

    Votes: 12 18.5%

  • 2 Good

    Votes: 43 66.2%

  • 3 So So

    Votes: 6 9.2%

  • 4 Not Very Good

    Votes: 3 4.6%

  • 5 Terrible

    Votes: 1 1.5%
  • Total voters
    65
Mountain Man said:
Reports of an oversupply of hotel rooms sure isn't helping the news.
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Yes, despite business travel being way down because of our weak O&G economy, there have still been several new hotels built in the last 5 years. In the core there have been two (Fairfield & Residence Inn) and a bunch around the airport.
 
Also the two hotels in East Village, and N3 is so full of Airbnb units, it's almost a hotel. I remember seeing that occupancy percentages were down, but as far as raw numbers go, the number of occupied rooms is still increasing.
 
I forgot about Alt Hotel & Hilton and yes, Airbnb is cannibalizing hotel rooms. There are several condo buildings in the core that have multiple suites on Airbnb. Non-resident owners that had no problem renting their suites in the past for medium to long term periods, are now competing with these new purpose rental apartments. The condo owners have turned to Airbnb as a way of attracting short term stays and bringing in some revenue to offset their investment cost.
Wow! The purpose rental buildings have hurt the condo investors. Now the condo investors are hurting the hotel industry. At some point, when everything gets built we are going to have a major over supply of condos, apartments and hotel rooms, relative to demand.
 
The Airbnb industry has been a blessing and a burden. It has been opening up the tourism industry by creating more options and getting some people to visit places they might not visit. It's also cannibalized the industry, and created problems for the people who live in the buildings that have the units.

In the end it'll balance itself out. Cities and building managers will regulate the Airbnb's more, the prices on average will go up, but owners will be more responsible. The ones that can be responsible and be cheaper than hotels will stay in business.
 
There is some news for this project. Construction will be going ahead soon, like within the next couple of weeks or so. Ellis Don will be the GC. Also I have been told that the height will be 42 floors and 5 levels of underground parking. I haven't seen the development permit, so 42 floors might be incorrect. But I've heard 40 floors and 42 floors.
 
I wonder what impact requiring a business license to rent out a condo as an Airbnb will have. Interesting times we live in for sure...
 
Wow, if we are talking about the same floor-height ratio as when it was 27 storeys, 40 to 42 floors would put it between 145 and 152 meters.
 
I wonder if they will have another ground breaking ceremony. Too many false starts with this one. I have to see piles in the ground.
 
maestro said:
I wonder if they will have another ground breaking ceremony. Too many false starts with this one. I have to see piles in the ground.
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No false starts or ground breaking ceremonies, there will be construction happening at the site very soon. I'll bet you a beer on it ;)

As for the number of floors, I've also heard 28 floors, so who knows.
 
No photo cause I’m running to the the theatre but I saw some heavy equipment on site this morning.
 
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