Reecemartin
Active Member
Realistically thats probably not far off after the Chinook Redevelopment.
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- Thread starter Reecemartin
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MichaelS
Senior Member
Related to this, the updated Chinook ARP is going to Planning Commission next week. Here is a link to the plan:
https://pub-calgary.escribemeetings.com/filestream.ashx?DocumentId=68604
https://pub-calgary.escribemeetings.com/filestream.ashx?DocumentId=68604
gsunnyg
Senior Member
https://www.retail-insider.com/reta...ew-invests-heavily-in-calgary-mall-properties
A good read regarding Cadillacs' investments towards Market and Chinook Mall. The article mentions that they have over 1 million sq.ft approved already for future density at chinook mall.
“When the market conditions are right we will be expanding that to include some more retail, some residential, some office, some hotel and entertainment. We see Chinook Centre becoming a real mixed-use, live/work/play environment,” said Barwise.
Seeing that they're saying when the market conditions are "right" they'll move ahead, Im assuming nothing will be happening there for a while at the rate our economy's going. Like damn, its frustrating seeing the rest of Canada booming and Calgary being left behind in this development boom thats been happening for the last 4 years.
Still big up to Cadillac though for sticking through with Calgary.
A good read regarding Cadillacs' investments towards Market and Chinook Mall. The article mentions that they have over 1 million sq.ft approved already for future density at chinook mall.
“When the market conditions are right we will be expanding that to include some more retail, some residential, some office, some hotel and entertainment. We see Chinook Centre becoming a real mixed-use, live/work/play environment,” said Barwise.
Seeing that they're saying when the market conditions are "right" they'll move ahead, Im assuming nothing will be happening there for a while at the rate our economy's going. Like damn, its frustrating seeing the rest of Canada booming and Calgary being left behind in this development boom thats been happening for the last 4 years.
Still big up to Cadillac though for sticking through with Calgary.
BKha
Active Member
I'm not sure Calgary's being left behind in this development boom. Relative to Toronto and Vancouver, it is, but those cities are light years ahead of everyone else. Montreal is up there too, but after those three Calgary is probably next on this list. Even with the struggling economy.
It's nice to know CF has plans for more when things pick up. Thanks for sharing.
It's nice to know CF has plans for more when things pick up. Thanks for sharing.
https://www.retail-insider.com/reta...ew-invests-heavily-in-calgary-mall-properties
A good read regarding Cadillacs' investments towards Market and Chinook Mall. The article mentions that they have over 1 million sq.ft approved already for future density at chinook mall.
“When the market conditions are right we will be expanding that to include some more retail, some residential, some office, some hotel and entertainment. We see Chinook Centre becoming a real mixed-use, live/work/play environment,” said Barwise.
Seeing that they're saying when the market conditions are "right" they'll move ahead, Im assuming nothing will be happening there for a while at the rate our economy's going. Like damn, its frustrating seeing the rest of Canada booming and Calgary being left behind in this development boom thats been happening for the last 4 years.
gsunnyg
Senior Member
I agree we weren't totally left behind. I know a lot of people bring up how we still continue to have a small highrise boom but I can't remember where I was reading an article earlier this year but the current number of highrises under construction are drastically lower compared to our peak years of 2013/14. I think with Calgary, most of the biggie projects were already approved and ready to go before the oil crash like Brookfield place,Telus Sky etc. but since then, we really haven't seen that much investment. Housing starts are down as well. Vancouver and Toronto are definielty way ahead in the game but even smaller centres you get to hear about these crazy developments going on, whether its a massive high-rise proposed in Quebec City or large redevelopments like next generation malls across Canada. I know we had insanely rapid growth during boom years so its not always fair to compare ourselves then and now but looking at things generally, we are definitely lagging relatively speaking in terms of investment. The reason why I say we've been left behind is because from here on in, interest rates are only going up, that decade of record low interest rates is going to be no more. I think its going start becoming harder for many of the major projects proposed in Calgary to move foward. These included things like Westbrook TOD/mall development, Eau Claire market redevelopment, Chinook Mall expansion, Entertainment district etc. Really hope things do pick up, this has to be such a frustrating downturn, it seems like its been forever since we've heard some good news. The biggest thing we need right now is the unemployment rate to drop down to the 6% range. Then we can take a real sigh of relief.
403youandme
New Member
Unfortunately, I don't see that happening here in the foreseeable future. Market conditions just aren't there. We need to invest more in our university to drive new industry. Sending out economic development teams and trying to poach companies has had no success for 4 years now and there won't be any capital investment into Calgary or Alberta Oil outside of the integrated majors flexing their muscle. I'd expect the unemployment rate to increase over the next few years. 10%-15% maybe even 20% as the Oil industry gets consolidated and more and more companies pull out of the oil sands.
It's going to get ugly.
We need more of this:
https://calgaryherald.com/news/loca...versity-research-park-from-alberta-government
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maestro
Senior Member
Toronto and Vancouver will be devastated once real estate implodes and far worse than the oil bust. Until then,residents will continue to go deeper in debt to buy or rent increasingly substandard units to live in. Count your blessings.
I think the unemployment rate will drop, but slowly. Jobs are still being created, but Calgary's labour force is still growing at a good clip, I suspect that will slow down. I totally agree with the point about having to invest in other industries. Poaching companies has limited success if any success at all. I know from some things I've seen around the city that industrial space is slowly getting absorbed by non-O&G companies. Mostly smaller spaces, but still you get a number of those companies going and growing and it makes a difference.
darwink
Senior Member
Re:extending the plus 15.
This is most likely a nonstarter. The current bridge has high operating costs. The city pays for the part of the bridge beyond Chinook’s property line, but the entire bridge was built and is maintained to Chinook’s standards.
This is most likely a nonstarter. The current bridge has high operating costs. The city pays for the part of the bridge beyond Chinook’s property line, but the entire bridge was built and is maintained to Chinook’s standards.
Reecemartin
Active Member
Has there been any movement on this? This type of Node outside of downtown would be super valuable. It was also be more in line with other CF Malls like Eaton and Pacific Centre
zagox
Active Member
+15 may be too expensive but a re-do of the frontage along 61st Ave with pedestrian experience in mind would get you 90% of the benefit. Right now Staples and the other stores have no engagement with the street.
Just build it
Active Member
Nothing that I’ve heard of. Best guess is that Cadillac Fairview is biding their time.
I agree with you Reece, this has potential to be a valuable node. Would be nice to see them develop what’s shown in the rendering and then someone develop the other side of MacLeod.
I agree with you Reece, this has potential to be a valuable node. Would be nice to see them develop what’s shown in the rendering and then someone develop the other side of MacLeod.