itom987
Active Member
This might be a good opportunity for a developer to purchase the building and renovate to fit in better with the area. It would be nice to see some mall to residential conversions take place.
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- Thread starter Daveography
- Start date
The_Cat
Senior Member
It’s sad to see 50 years of history end like this.
Greenspace
Senior Member
Receivership does not mean anything's going to change. It just means change of ownership at this point. Could be split up or they could refinance, remains to be seen.
Offworld
Active Member
Somebody's in default, and the lender has had enough, hence the receivership appointment. And when something's in receivership, zero dollars get spent on the complex and unpaid vendors are screwed.
This one's going to be a bloodbath. I'm assuming equity < 0, and the lender is going to come out of this quite bruised. Get the popcorn out.
This one's going to be a bloodbath. I'm assuming equity < 0, and the lender is going to come out of this quite bruised. Get the popcorn out.
IanO
Superstar
Onwards and upwards.
The_Cat
Senior Member
It's sad to see all of the commercial developments struggle downtown, save for the Ice District. ATB Place has less than half of the original retail outlets. Rice Howard Place is almost finished, and getting retailers may be difficult. Commerce Place is busy, but there are still some vacant spaces. Manulife/National Bank has pedestrian traffic, but sparse tenants.
Barnaby
Senior Member
Downtown retail will be mostly driven by residential demand and hotel goers going forward.
The number one goal of downtown businesses shouldn't be "bringing people downtown" or making it a "destination", it needs to be housing starts in the CBD, especially near the offices which are currently a massive drag on vibrancy.
The number one goal of downtown businesses shouldn't be "bringing people downtown" or making it a "destination", it needs to be housing starts in the CBD, especially near the offices which are currently a massive drag on vibrancy.
TAS
Senior Member
I wouldn't really call Ice District a success on the commercial side of things. It may be doing better than other dt locations though. But what was envisioned for people and what it is are two different things.
kcantor
Senior Member
For the record, it’s not just the mall, it’s the mall, TD Tower, 102A Tower, Centre Point Place and the building parkades — in total, about 1.4 million square feet of office and retail space.
thommyjo
Senior Member
Not surprised. Hopefully someone with vision can come in a redevelop the Mall.
Anyone know vacancy rates in TD tower? Is it class A still mostly?
Anyone know vacancy rates in TD tower? Is it class A still mostly?
NicolBolas
Active Member
Im hoping for redevelopment in the form of a wrecking ball. Sure it will probably turn into City Center
Out of Towner
Active Member
The boulevards with mature trees makes some of the downtown streets very desirable for residential urban living but that alone isn't enough. Young people probably form the largest downtown demographic group and they want the cool vibe. Besides a good streetscape they want the coffee shops, the pubs, and the trendy restaurants. Downtown Calgary has maybe half a dozen basketball courts located right next to one of their downtown C-Train stops and when I was past there the other day, the place was packed with 20 year old's showing off their skills and creating a vibrant buzz.
The_Cat
Senior Member
I think the trouble with the design of City Centre Mall was cutting off 100A and 102 Streets. I’m not advocating to bring them back, but streets like 102A Avenue are barren.
JMatt88
Active Member
Its crazy to think that a decade ago City Centre Mall was quite a happening place. I know its not productive to compare Calgary to Edmonton, but what was made ECC so different from TD Square that caused it to flounder so much? Maybe it was already struggling a decade ago and businesses were just holding on? 