2514 replies to this topic

[Mike K.]

Flynn to the rescue!

[CitoyenduMonde]

Went by at 3:30 this afternoon and you could not see any work being done whatsoever on the North building, quite a contrast to last week where you could see workers on every floor. Perhaps they all moved over to the South building because of teh arrival of the windows. On the North building they are still lacking windows on the top two floors of the annex.

[shoeflack]

All the window framing is up on the annex, just missing the windows themselves on the top 2 floors. They’ve also now started with the window framing on the west side of the new building.

I might have been wrong...might have just been the window framing for the new building residential suites that arrives based on the activity today, not the commercial floor windows.

[LeeChambers]

Are you assuming that this project is going to see a number of pre-sale buyers back out (rather than close on their condos), similar to what happened at The Falls and Bayview during the 2008/2009 financial crisis? 

 

I could be completely wrong, but assuming that there's no major shutdown in construction and the project finishes this summer I would think that this project is well-positioned overall in that its target buyers seem to be middle-income individuals and couples- and first-time buyers- who might be less willing to lose their deposits.  The Falls & Bayview One were targetted at high-income buyers who could easily afford to write-off their deposits & walk away.  The situation will be even better for The Wade if Ottawa steps in and offers some assistance for buyers in pre-construction projects (i.e. those who had pre-qualified for a mortgage, placed a deposit, & subsequent were laid off from employment)...

 

I'm assuming that we're all now aware that we're in a local, national and world-wide recession that could last anywhere from 1 to 5 years, perhaps longer. Rather than summer 2020, and at the pace construction has lagged so far, there's probably an even chance that the province shuts down every construction site, which would leave this oft-delayed complex completing in late 2020 (at best) and more likely spring 2021. By that point the local market should have dropped by at least 10%, probably more like 15%

 

Fortunately, since pre-buys, the market values have increased to the point where these (local & other Canadian) buyers are only seeing their potential profits drop. Now I wonder how many foreign buyers will be willing to complete their purchase for an additional 25% if local prices fall to 2017 levels?

[Biro]

All I know for certain is this thing is taking foooooorever. They really ought to place a brass plaque on the building somewhere discussing the history and construction challenges.

The Harris Green strip to the north is a beautiful piece of land, 20 years from now I’m sure properties that surround it be redeveloped. The park could definitely use a nice foot path and a little statue ol’ Mr. Harris himself - though after further research I doubt the statue would be little.

[scotto203]

Took this back on March 29th, the windows (or the frames at least) have indeed started going on to the new building:

 

[Mike K.]

Nice.

[shoeflack]

They also have most of the rooftop fence windows/railings up on the new building now.

[CitoyenduMonde]

As Shoeflack reported earlier, the North building now has all window frames installed and this week they appear to have completed installation of all the windows that were still missing from the upper floors of the annex of the North building. The building materials delivered recently and stored in the ground floor area appears to me to be teh framing materials for the windows on the South building. The first framing on the South building has been started on the Cook street side near teh elevator shaft and moving in the direction of Johnson street. In the area of the elevator shaft they have already installed the first glazing on the South building. It does not appear that any progress has been made on the Johnson street side or on the courtyard side. On teh Medical Arts building, the windows are all in but apparently none of the doors have yet been installed.

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[CitoyenduMonde]

Here are the window frames ready to be installed

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[CitoyenduMonde]

Here the installed window frames on the new building

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[zoomer]

I’ve been critical of the slow pace and poor developer communication on this project, but it seems to be rolling along right now and looks really sharp. Great rehab and the addition works well, the dark glass is killer, the glass panels on the rooftop..all combine to make this one stand out and still look very appropriate for downtown.

[Nparker]

This may be the first project in the CoV where even the new construction is declared heritage upon completion. 

[Promontory Kingpin]

Progress being made! Courtesy of Max & David

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[Mike K.]

Whoa! The roof work looks great.

[lanforod]

You claim one so you can grow your 4 pot plants yet, Mike?

[Kapten Kapsell]

Per the update above it looks VIHA/Island Health is going to be a tenant w/  9000 square feet.  I wonder if this will be a new primary care clinic for downtown, Fernwood, and North Park (similar to the new one going into James Bay that will be serving residents of that neighbourhood and Fairfield)?

[MarkoJ]

May completion! 

[Nparker]

May completion! 

Which year?

[CitoyenduMonde]

After reading the update, I went by the building this afternoon. After all the misleading news propagated by David and Max in the past, I can't believe that they think that they can continue on the same track. They state that the glazing in the North building is complete, but if you go by, you can see that none of the glass doors are installed and none of the glass panels covering the venting outlets are complete. Perhaps they will say that notwithstanding they are glass, they are not part of the glazing. As for the South building, they say that about 1/3 of the glazing is complete. When walking the perimeter of the worksite a few hours ago, I could see about 1/3 of the glazing on the Cook street facing wall complete, nothing whatsoever on the Johnson street side or on the courtyard side, so being generous, they have completed perhaps 1/6 of the glazing. Looking through the windows, you can see that progress on the drywalling and painting is likewise painstakingly slow. Lastly, how can the courtyard be ready for top soil if the crane is still there? In other words, total fake news!

 

Perhaps the only true news that can be gleaned from the update is that they are likely going to use a two-stage occupancy schedule. This has never been disclosed as a possibility. 

 

As for the crane, what is it still needed for? It appears that glazing and framework are being installed using ground-based machinery.