ville-marie QUAD Windsor (Projet global)

[swansongtoo]

30 minutes ago, peekay said:

Hopefully it'll be back bigger than ever. Just like BNC and Victoria replaced univers.

Agreed obviously.  But to see the absolute wall downtown development has hit is quite remarkable.  Even Griffintown development is completely dead apart from the current stuff under construction.  

[Rocco]

Covid has shut downtown for the past 2 years. Will it ever come back to what it was before? Probably, but it will take a few years, and new businesses. Builders are aware of this..............

[Né entre les rapides]

A quick one.

I am taking a look at what the New York City leadership (both public and private actors) are thinking and doing.  There is an awareness that office business and tourism might not fully go back to their pre-covid levels.  New, different types of activities are contemplated, notably those which are science-related.  

Montreal appears well positioned to take a similar path.  

[Djentmaster001]

CF should focus more on this project than their Fairview mall one... but we'll see what happens. Offices with large floorplates are still in demand for tech related jobs, Montreal being a tech hub already means we are poised for development. Downtown was also the second fastest growing area in the whole country between 2016-2021. My solution is simple: Mix-use the hell out of everything, the demand is still there... just some hesitation with everything. 

The other issue though, CF really dropped the ball with 750 Peel. Nearly 3M sq ft of office space has been added/UC downtown over the past 5-6 years, and you're telling me CF couldn't get a single agreement? They could've easily partnered up with MTL International and get people to move in, no problem. Lots of gaming companies are moving downtown but it's split between class B/class A office space. So whatever CF strategy is, clearly not working. 

[Rocco]

CF clearly bought the 700 and 750 Peel in hope they could max the height restriction currently at 120m. They did it first for TDC 2-3 where the land was again 120m, and their buddy Coderre gave them their candy at 170m. Then came in Valerie before they could do the same trick for 750 and bam, they stopped everything. CF bought 120m lands but they NEVER intended to respect that zoning. EVER. They will sit on it until they get a buddy mayor who raises all their land higher. Corporate Raiders.

[Né entre les rapides]

Il y a 2 heures, Djentmaster001 a dit :

So whatever CF strategy is, clearly not working. 

I think it's premature to come at  this conclusion.

 

Il y a 2 heures, Rocco a dit :

CF clearly bought the 700 and 750 Peel in hope they could max the height restriction currently at 120m. They did it first for TDC 2-3 where the land was again 120m, and their buddy Coderre gave them their candy at 170m. Then came in Valerie before they could do the same trick for 750 and bam, they stopped everything. CF bought 120m lands but they NEVER intended to respect that zoning. EVER. They will sit on it until they get a buddy mayor who raises all their land higher. Corporate Raiders.

Standard speculative process.  You buy something at a given price and you think you made a good deal.  The seller also thought that he made a good deal.  How is that possible?  --  They probably  had different expectations, but they must have been mutually aware of the expectations of the other party.  The agreed upon price is the reflection of the understanding.  

Everything else being equal, a lot where permitted height is 120 m is worth less than another with a 170 m limit.  But zoning changes do happen.  Just not all the time.  There is an element of uncertainty.  In the case of the lots at 700 and 750 Peel, it did not happen yet, but it might in the future.  There is more than one way  for this to happen.  Of course, the developer can exert pressure/influence on the city; but the city by itself can also decide that increasing height limits in some areas would be beneficial to its overall development.  

[Rocco]

Terrains vacants du Quad.

Crédit photo Rocco

[KOOL]

Malheureusement ça va rester comme ça au moins jusqu'au départ de ta grande amie. 

Valérie 2 Rocco 0

 

[Rocco]

Les 2 terrains abandonnés par Cadillac-Fairview. 600 Peel et 750 Peel, where are u?

[KOOL]

Don't worry, they'll be back in 2029.