1035 replies to this topic

[VicHockeyFan]

Not all that many people walk to a grocery store.  Yes, yes, I know some do, but you need a much bigger radius than your immediate neighbours.

[G-Man]

People walking?

[rambaldi]

There are less than 100 parking stalls there.  What am I missing?

 

There will eventually be shared underground parking in the Roundhouse Addition (5) and New Residential Tower.

 

"Temporary" parking will be made available in the adjoining lot.

Edited by rambaldi, 10 June 2014 - 06:34 AM.

[VicHockeyFan]

There will eventually be shared underground parking in the Roundhouse Addition (5) and New Residential Tower.

 

"Temporary" parking will be made available in the adjoining lot.

 

Ah, OK, so it'll be like Tuscany Village.  j/k.

[rambaldi]

roundhouse-boxcars.jpg

The third residential tower isn't shown in the illustration.

[Mike K.]

That's right, only what is currently built is shown. The third Bayview tower is likely many years out and will follow Roundhouse towers.

[concorde]

Base rents starting at $30/sf + $12.50 triple net is very very expensive for the area.  I wish them the best of luck in getting tenants, but I doubt they will get many

[Mike K.]

That sounds about right. Westside Village, Dockside Green and the Upper Harbour's retail are on par. No doubt a near waterfront location in a brand new development would be a little pricier.

[jonny]

"Part of our vision is converting 6 or 7 old rail cars into sort of food trucks and we would love to hear back from the community about whether or not there is support for this."

 

That would be awesome!

[thundergun]

Love the idea but 6-7 seems like a lot. With some good awnings in the winter a few of these could do well. I think the bigger concern is the amount of food traffic that will be here at the crucial lunch hour time for foodtrucks, particularly on weekdays. Would workers from Upper Harbour Place make the 10 minute walk? It's far enough and not overly accessible from downtown workers.Also, if they are in railcars it removes one of the competitive advantages for the foodtrucks - the ability to move somewhere else to serve other customers when business is slow.

That being said, I would love this idea to work! I can imagine having one railcar that doubles as a 'performance stage' for events in the roundhouse area.

 

Somewhat on topic, when I was in Christchurch a few years ago this container mall seemed to be doing quite well.

[Mike K.]

I doubt they will all be situated on the property from day one. They'll likely stagger the introduction of the trucks based on how the first ones perform. Remember Roundhouse realistically represents a 15-20 year build-out and planning has already been going on for the better part of a decade.

[Mr Cook Street]

I think the rail car - food truck idea is excellent. Make it a destination! I seek out the street food hubs when I am in Portland. Have a well designed, heated patio so that you could eat there year round. I am very much in support of this. I'm always wishing there was somewhere I could walk my dog to pick up food and a beer.

[concorde]

That sounds about right. Westside Village, Dockside Green and the Upper Harbour's retail are on par. No doubt a near waterfront location in a brand new development would be a little pricier.

I have commercial property in the heart of the Oak Bay Village and I had trouble getting those rates when I had a vacancy

 

The old Blockbuster location at Westside Village has been for lease for approx 3 years and I think there are a few other long term vacancies as well.  The old TD Bank there has also been vacant for a year since they moved into another space in the mall which had also been vacant for a long time

Edited by concorde, 11 June 2014 - 07:40 AM.

[Mike K.]

You couldn't get those rates in sleepy ol' Oak Bay?

Westside Village is a hive of activity. Other than those two spaces the shopping centre is fully spoken for. TD has literally tripled their space and and if the old Blockbuster space and the former bank space are all that's sitting empty then that's not that bad. The problem with the leasing there is its pricey and it will take the right kind of tenants to make the operation profitable.

I always thought Coast Capital should open where the former TD was. They have a corporate building across the street which gives people the impression that there's a bank there, but they don't even have a cash machine!

[AllseeingEye]

You couldn't get those rates in sleepy ol' Oak Bay?

Westside Village is a hive of activity. Other than those two spaces the shopping centre is fully spoken for. TD has literally tripled their space and and if the old Blockbuster space and the former bank space are all that's sitting empty then that's not that bad. The problem with the leasing there is its pricey and it will take the right kind of tenants to make the operation profitable.

I always thought Coast Capital should open where the former TD was. They have a corporate building across the street which gives people the impression that there's a bank there, but they don't even have a cash machine!

Not to hijack this Mike but to your last point CCS like any multi-site organization is very strategic about where they position their locations, which are determined by among other variables where other locations are located relative to the one under consideration, local population/trends, market penetration (by them and by other competing financial institutions).

 

With a CCS outlet at Admirals Walk and another one at Tillicum, a West shore (mall) outlet would not be an effective use of capital resources nor likely a profitable choice. Believe me given those capital costs associated with purchasing or leasing a location, fitting it out physically and from a business systems standpoint and branding it, this is studied and scrutinized ad nauseum internally.

[Mike K.]

Oh yeah for sure, that's makes sense.

[G-Man]

^^ ASE Do you mean West Shore or Westside Village?

[concorde]

I think most people using that mall are going to Save on Foods.  Just like the Fort/Foul Bay Save On, the parking lot is full with people going grocery shopping

 

Oak Bay may be sleepy but there is buckets of cash.  Have you seen the soccer moms piled up at Octavio's at just past 9 after dropping their kids off?  They are all spending $10 each minimum, and its not a stop before going to work.

 

Anyway, I don't see Roundhouse as a destination place unless they can get a major anchor tenant which will bring people there.  Why do you think malls give Wal Mart, Safeway, etc pretty much free rent?

[Mike K.]

There's a heck of a busy Starbucks, the liquor store is buzzing, there are professional offices, a medical clinic, laboratory, and several popular eateries. I'm there everyday, it's a busy shopping centre.

As for roundhouse of course they'll get an anchor tenant, maybe several. This is a far more popular neighborhood than many want to believe.

[concorde]

An anchor tenant is 50,000+ sf, where is that going to go?

 

Overall the roundhouse area is not that great a neighbourhood and still full of warehouses.  Its an area in transition that is going to take 20 year to blossom