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Russell

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Tout ce qui a été posté par Russell

  1. Russell
    that horrible parking lot will be a pharmaprix plus residential above
  2. Russell
    Does anyone have proof that the project is alive and moving forward? I am all for this project to take place, i simply responded to a post where someone asked for advice on their own personal financial matter with the promoter and i think what i gave was sound advice based on private knowledge.
  3. Russell
    sorry to cause such a stir, but this project is in fact dead for reasons that simply come down to financial terms and a perceived conflict of interest with other projects. to be clear, the promoter never owned the land, and the partnership between them and the existing land owners has been fractured completely. if at some point the partners can resolve their issues and re-launch the project i will admit that my declaration has been premature. but if i had given a deposit to be on a VIP list...i would ask for my money back and the promoter should do the responsible thing and return it.
  4. Russell
    dead, ask for your money back.
  5. Russell
    the parking lot is being carved out from YUL condos as a potential office development site.
  6. Russell
    Maledzione misses the point. You could argue that 33% of the space is leased or sold, but that does not correspond to a banks financial model. Banks do not look at it from a GLA perspective, but from a cash flow perspective. You have several components to the cash flow of a development: 1 - condo sales - what is the % of gross sale made (deposits received versus total deposits possible) - and if a developer reserves units, they also contribute deposits 2 - commercial space leases - what sort of binding or non-binding agreements are in-place with credit-worthy retail or office tenants and what is the $ value of these leases once the project is delivered 3 - parking revenue / sales - what is the revenue of the parking below-grade...this is the guaranteed money-maker for this project and if spaces are not sold, then what sort of revenue stream will the owner achieve Based on all of these cash-flow items, this project with the current sales is essentially financeable today and I think that we can expect construction to occur once the construction workers get back from their strike and construction holiday.
  7. Russell
    i believe this is the next belcourt project
  8. Russell
    I think it is interesting to see who the client is on the website for the brochure....steven schouela or SBI...which obviously alludes that the owner has now brought in a serious developer/promoter to deliver the project. SBI's experience includes paris lofts as well as the gramercy project on sherbrooke. I love this project too but never felt comfortable with the ability to execute...this is good news for purchasers and the area.
  9. Russell
    this project is backed by the same french group who acquired in block the bottom floors at the Griffix. so saying half the units are sold is a bit of a fools errand...as they were purchased entirely for investment purposes. in any event, hopefully the city requires some level of distinctive finishes to the building...however it is in line with creating mid-market housing in downtown.
  10. Russell
    i think the overdale site is where we will find the grocery store...or at guy/r-l...less prominent sites but have corner egress/ingress points which grocers need...nonetheless, if a whole foods were to open in dt mtl, tough to think of a better location.
  11. Russell
    this is phase 5 of place laval, cominar is the owner and the principal tenant is the SIQ (ministere du revenu).
  12. Russell
    this property was acquired two years ago by groupe mach from iron mountain (parent co of archivex).
  13. Russell
    i think this is a project that montreal can achieve...first priority is to intensify downtown montreal and consolidate residential and commercial activity in griffintown...but as these projects conclude the natural path of expansion is to follow the water east and revitalize this no mans land.
  14. Russell
    industrial spaces within buildings such as this one are in total abundance in this area and supply depletion is a good thing. this property will be transformed into loft office, which is permanently in demand by cost-conscious tenancies, and particularly favourable amongst video-gaming studios. kevric has plans to spend nearly $20 million in capital and tenant improvements...do not see the downside to recycling and improving our asset base
  15. Russell
    Here is a recent rendering...more to come.
  16. Russell
    thanks for confirming my suspicions...the views to the north from the upper floors of Icone will remain reasonably unobstructed for some time although i do hear of a hotel project on the drummond lot facing Samcon's towers but that will not be anymore than 20-25 floors. this site is bound to become a mixed-use flagship commercial/boutique residential project a la Cours Mont-Royal due to its visibility from ste-catherine.
  17. Russell
    I am pretty sure that zoning will not permit a 30 storey building on that site. And i cannot understand why any seller would be declaring something so speculative as this to a potential purchaser....very strange.
  18. Russell
    Gilbert, i think it is confusing to show the office portion as the old version...i think that is still an accurate reflection of what the office component would look like, so can you replace it with the three res tower renderings from last summer?
  19. Russell
    habitant multimedia obviously lives at M9...or sells condos from an office on the ground floor. everyone thinks they are in competition with other condo towers...not true at all, stop being rat-fuckers...you are all collaborating to make downtown montreal the coolest place to live in the metropolitain area.
  20. Russell
    pedepy that has to be the silliest thing i have ever heard. you would protest the construction of a head office tower based on a cruel lack of density? who are you to arbitrate on this...this is not a gas station, it is a 400, 000 SF office building built to LEED platinum certification which will cost over $125,000,000 to build. office tenants need 20,000 - 25,000 SF floor plates...residential buildings can live with 10,000 SF floor plates. so a res tower can be built 2.0-2.5 times the height of the office tower of the same density. that is why cadillac is building a 26 storey tower for deloitte. it is not just about height, it is also about jobs, prestige and construction and in this economic environment it is stupid to forego that type of investment because a couple local architects have a problem with the design that the anchor tenant is demanding. ridiculous!
  21. Russell
    we are not comparing apples to oranges...the new version shows the residential portion, the old version shows the office component...the only major difference is that the older residential component had three towers of 25 storeys and now we are seeing two towers of 37 stories (max height of 120 meters). this is a nice change as the views will be dramatically better for all units but really comes down to the fact that devmcgill and magil laurentienne are putting forward a striking project with considerably greater risk which is not in their character. i think two things happened...one altoria is reaching over $700 psf for the upper floors and two, they are attempting to distinguish themselves from le victoire across the street in gauvin by gaining altitude. altogether a signficant improvement and a better appropriation of density.
  22. Russell
    Here is another rendering...the format of the building will stay the same. announcements forthcoming.
  23. Russell
    Le Metropol v.2 (compact)
  24. Russell
    has anyone seen any information on Walter at the Atwater Market Condos. there is a big sales center going up at the corner of st-patrick and the atwater footbridge. i googled it and it seems like mcgill immobilier is doing the sales launch, with 100 units for sale, but not sure who the developer is or the location of the project but should be a direct competitor to Myst and the Nordelec condos.
  25. Russell
    it never ceases to amaze me how often people on this forum do not realize that the developer cannot include buildings or land that they do not own into a project. the owner of these shitty commercial buildings will not sell, and therefore these little shitty buildings will stay. and if someone else says expropriation, check in with christian yaccarini and ask how that went down with cafe cleopatra.
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