[EdmTrekker]

Unfortunately, I saw for sale signs as I rode by today. That being said, may not have been the best location for a beljan project.

109 is such a busy street. I think its a challenge to build a condo there given the traffic noise. Many people would want to avoid that and prefer 108th or 107th to avoid traffic noise. Rentals might be a better choice here - assuming the buildings are torn down. I don't think they are historic. Beljan are savvy enough to know what will and won't work business case wise - and if they are selling its because after reflection they have now concluded they can't make the numbers work.

 

[cmd uw]

109 is such a busy street. I think its a challenge to build a condo there given the traffic noise. Many people would want to avoid that and prefer 108th or 107th to avoid traffic noise. Rentals might be a better choice here - assuming the buildings are torn down. I don't think they are historic. Beljan are savvy enough to know what will and won't work business case wise - and if they are selling its because after reflection they have now concluded they can't make the numbers work.

Well, first it wasn't our choice to put this building up for sale, it was our partners as we only had a small position in it. Secondly, the YMCA leased the space a few months back and will be there for at least 3 years. So nothing will happen regardless who owns it.

 

[_urbanite]

Well, first it wasn't our choice to put this building up for sale, it was our partners as we only had a small position in it. Secondly, the YMCA leased the space a few months back and will be there for at least 3 years. So nothing will happen regardless who owns it.

I wonder if this is because they require more space or are moving from their building on 102 Ave & 105 street

 

[archited]

"will be there for at least 3 years" makes me think that it is a temporary move to allow for modifications to their existing facility.

 

[IanO]

Time for which to find another home.

 

[cmd uw]

I wonder if this is because they require more space or are moving from their building on 102 Ave & 105 street

The City purchased their 105 Street site as they required more room for the LRT. It is my understanding they will be tearing it down.

 

[IanO]

Heard the same which is a bit of a shame.

 

[David A]

The 105 St building wasn't one of my favorites. There are other buildings nearby much more worthy of preservation.

3 years? It seems like a good location for them. I wonder if the YMCA will decide to stay there longer, or if they already have some intention to redevelop the 105 St location.

 

[IanO]

Home-security entrepreneur buys Union Bank Inn and three other notable buildings

Feb. 28, 2022 · The Pulse
By Emily Rendell-Watson
Comments

The Union Bank Inn has been sold to a local entrepreneur who is hoping to revitalize and bring new energy to the historic building, which has been a fixture on Jasper Avenue since 1911.

“The idea is to honour its history, really pull out the roots of what the Union Bank was,” said Henok Kassaye, the new owner, who is taking over a business that’s been closed for the majority of the pandemic.

...
Kassaye said he bought the Union Bank Inn along with three other properties: the Scona Garage off Whyte Avenue, the Harvest International building on 109 Street, and 10507 Saskatchewan Drive (the former Incite marketing building). All four were listed by Omada Commercial.

Home-security entrepreneur buys Union Bank Inn and three other notable buildings

The Union Bank Inn has been sold to a local entrepreneur who is hoping to revitalize and bring new energy to the historic building, which has been a fixture on Jasper Avenue since 1911.

edmonton.taproot.news

 

[archited]

Although this relieves Beljan Developments from development of this site (presumably to put their efforts elsewhere) it is encouraging to see it picked up by a new face on the scene that wants to accomplish something similar in style and function.

 

[TAS]

Home-security entrepreneur buys Union Bank Inn and three other notable buildings

Feb. 28, 2022 · The Pulse
By Emily Rendell-Watson
Comments

The Union Bank Inn has been sold to a local entrepreneur who is hoping to revitalize and bring new energy to the historic building, which has been a fixture on Jasper Avenue since 1911.

“The idea is to honour its history, really pull out the roots of what the Union Bank was,” said Henok Kassaye, the new owner, who is taking over a business that’s been closed for the majority of the pandemic.

...
Kassaye said he bought the Union Bank Inn along with three other properties: the Scona Garage off Whyte Avenue, the Harvest International building on 109 Street, and 10507 Saskatchewan Drive (the former Incite marketing building). All four were listed by Omada Commercial.

Home-security entrepreneur buys Union Bank Inn and three other notable buildings

The Union Bank Inn has been sold to a local entrepreneur who is hoping to revitalize and bring new energy to the historic building, which has been a fixture on Jasper Avenue since 1911.

edmonton.taproot.news

Wow! Great news. Four properties no less and a local entrepreneur. All in a day's work for some, I guess.

 

[Edmcowboy11]

Well let's see what happens, high hopes.

 

[IanO]

MNP Ltd., in its capacity as court appointed Receiver of 2399430 Alberta Ltd. and 2399449 Alberta Ltd., has engaged NAI Commercial Real Estate Inc. (“NAI”) to list and market four prominent properties in Edmonton, Alberta; The Union Bank Inn Property – 10053 Jasper Avenue NW; The Scona Garage – 8020 – 105 Street NW; The Harvest Building – 10315 – 109 Street NW; and, 10507 Saskatchewan Drive NW. Additional details can also be found at our website link below.

2399430 AB Ltd and 2399449 AB Ltd

mnpdebt.ca