Romanov
Active Member
JLL has listed this one for sale
- Thread starter Daveography
- Start date
Clearshades
Senior Member
Another pit bites the dust...
cmd uw
Active Member
Good location. Should garner a fair amount of interest.
Edmcowboy11
Senior Member
So the empty lot is worth that much?
IanO
Superstar
Kinda sorta.
$244/sqft with an approved DC in place in one of our most desirable neighbourhoods is about right.
Downtown land tends to go for $175-300/sqft, with certain lots north of 300 and closer to 400 such as Falcon.
$244/sqft with an approved DC in place in one of our most desirable neighbourhoods is about right.
Downtown land tends to go for $175-300/sqft, with certain lots north of 300 and closer to 400 such as Falcon.
Edmcowboy11
Senior Member
Ok. If that's the case so be it. Well hopefully someone will pay that amount and actually build something there.
Platinum107
Senior Member
There was something I really found cool about the Mezzo proposal and I hope it can be resurrected in some form!
David A
Senior Member
It was nice, but overly ambitious for the area. Whyte Ave is a popular area, but not really a high income one chock full of millionaires. It is a real mix of people at various income levels, many at more moderate levels.
It might have been the type of project that could have went ahead year ago when things were booming, but certainly not in these times.
Having said that, I hope something happens here soon. It is a good location and having that derelict lot is a real downer. I wish the quaint old church that was there was not torn down and left there until something was actually ready to be built.
It might have been the type of project that could have went ahead year ago when things were booming, but certainly not in these times.
Having said that, I hope something happens here soon. It is a good location and having that derelict lot is a real downer. I wish the quaint old church that was there was not torn down and left there until something was actually ready to be built.
David A
Senior Member
I don't have any inside knowledge, so I can only go by what I see from the outside.
However, in my experience it would not be surprising that questionable choices and bad management go together and are fairly closely related.
However, in my experience it would not be surprising that questionable choices and bad management go together and are fairly closely related.
archited
Senior Member
People with high levels of entrepreneurial spirit sometimes trip up especially when circumstances don't go their way. If they were too close to the line and COVID hit, I can see their finances dry up. Too bad; it was a solid effort trying to do the right thing by the neighborhood. Some others are getting stretched to the breaking point in Edmonton right now -- I don't want to throw out any names and jinx their position.
Guy 1
Active Member
Indeed it's tough as a smaller developer, especially on projects of this scale - your wiggle room gets very tight. But I'm appreciative of the smaller guys (relatively speaking) who are willing to go for bigger projects like this.
It would be miserable if all we had was big, out of town developers willing to take on this scale of project.
It would be miserable if all we had was big, out of town developers willing to take on this scale of project.
Oilers99
Active Member
This project did not run into trouble due to COVID. It had problems prior to COVID.
archited
Senior Member
^^^^ That is probably true -- but COVID looked a lot like nails in the coffin.
IanO
Superstar
Mezzo no more: Lot off Whyte Avenue vacant as developer abandons project
'Now we’re left with a mess,' Coun. Ben Henderson says
Natasha Riebe · CBC News
A prime lot in the heart of Old Strathcona is covered with grass and dandelions, five years after city council approved a controversial condo complex for the site.
Westoak Development planned to build a 16-storey tower called the Mezzo on 81st Avenue and 105th Street.
The company's real estate office across the street is vacant with blinds pulled down and a 'for sale' sign in one of the windows.
City councillor Ben Henderson opposed the project when Westoak CEO Matthew McLash pitched it in 2016.
Henderson argued it was too high for the historic Old Strathcona, directly behind the historic post office on Whyte Avenue.
"Now we're left with a mess," Henderson said. "We just have an empty lot."
City council approves controversial highrise just off Whyte Avenue
Chris Dulaba, a placemaker with Beljan Developments, said the failed Mezzo reflects an inherent risk in the development game.
"This is an example of one that ultimately couldn't get past the goal line," Dulaba said. "Here we are left with a site that has a hole and is fenced up and become a little bit of a pockmark in the neighbourhood."
The lot is for sale with an asking price of $5.3 million.
'Now we’re left with a mess,' Coun. Ben Henderson says
Natasha Riebe · CBC News
A prime lot in the heart of Old Strathcona is covered with grass and dandelions, five years after city council approved a controversial condo complex for the site.
Westoak Development planned to build a 16-storey tower called the Mezzo on 81st Avenue and 105th Street.
The company's real estate office across the street is vacant with blinds pulled down and a 'for sale' sign in one of the windows.
City councillor Ben Henderson opposed the project when Westoak CEO Matthew McLash pitched it in 2016.
Henderson argued it was too high for the historic Old Strathcona, directly behind the historic post office on Whyte Avenue.
"Now we're left with a mess," Henderson said. "We just have an empty lot."
City council approves controversial highrise just off Whyte Avenue
Chris Dulaba, a placemaker with Beljan Developments, said the failed Mezzo reflects an inherent risk in the development game.
"This is an example of one that ultimately couldn't get past the goal line," Dulaba said. "Here we are left with a site that has a hole and is fenced up and become a little bit of a pockmark in the neighbourhood."
The lot is for sale with an asking price of $5.3 million.