What do you think of this project?

  • Total voters
    53
Well whoever buys it, I do hope that they of course first clean up the lot, but I do hope that they also develop the property. We have way too many empty lots that could be developed but according to the landowners it isn't the time to develop, which I call BS when other good Developers seem to not have much difficulty doing it on their own.
 
archited said:
Leston purchased Edmonton House (Edmonton's 10th tallest building) in 2024 so they certainly have the financial heft to move on the 101 project -- I will find out more.
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Building a new high rise is different than purchasing an existing one, but perhaps this shows a company that is interested and ready to go on to bigger things.
 
ChazYEG said:
Honestly, I have been following Calgary threads talking about these towers and some of the talks are sounding a lot like our Aldritt Tower conversations went here. I will honestly be surprised if they go ahead in their current form.
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There's nothing so far indicating there will be a change in plans, but the plan is aggressive, so I won't hold my breath on the final product. All of us have been down this road before.
supaflyryguy said:
Calgary has nearly 30% vacancy rate. It's wild that anyone is considering building new, unless that inventory is just so shitty that companies are desperately fleeing to quality.
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The 30% is for office vacancies of all classes. Residential and hotels are different though. High rise residential is still going gangbusters and hotels are a hot market lately, with 7 new hotels added to downtown Calgary in the past 5 years, and another one breaking ground as we speak. The Calgary tourism board estimates Calgary still needs another 1,000 rooms added this year to keep up with 2026 expectations. Whether or not that includes 405 higher end Marriott rooms, who knows? Those extra rooms would be added over a 3 year stretch, so maybe it's possible. I'm a bit skeptical, but I wouldn't be shocked to see one of the towers get built. From what I've heard Truman wants to have the 'tallest' title.

As for the office space. Yep, it's not likely anyone would want to build new office space anytime soon. Class A space is something like 15%, and the higher end A space is even less, so there's an outside chance of a smaller boutique office or some being incorporated into a mixed use project. Not long ago Suncor very close to being the anchor tenant in the Stephen Ave quarters mixed use project.
 
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Doesn't look like they've cleared the sidewalk once the entire winter... I already reported to 311, anyone reading this feel free to send it in again so it gets more attention, lots of sidewalk reports right now after the big dump we had.
 
ForestedImagination said:
The for sale sign is gone? The site has been sold...?
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Now is the time for baseless speculation!

I think it it's going to be a new hotel/residential tower that's at least 180m tall with a 2-storey CRU catering to a downtown Zara facing 102 Ave and another Sabor as the hotel restaurant.

And idk maybe it's bought by a Swedish pension fund lol
 
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