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8 hours ago, SpeedFlex27 said:

When is construction starting on 300 Main? Why do companies make announcements on huge projects that are still years away from starting? Skycity is another. Looks like it'll never get built. 

300 Main is already under construction to a degree.  There is work being done to move the HVAC and other systems that are currently in place so they can begin building.

They announce early for various reasons.  In the case of a place like TNS or 300 Main, they announce when there is something to announce.  So when agreements are made, when financing is secured, when start dates are confirmed etc.  It generates and keeps excitement (and large projects would get leaked if they didnt announce it).

In the case of Skycity, since its a condo project, it relies on selling X amount of units to unlock financing.  So making announcements and trying to generate excitement is all about generating condo sales.  They have to sell X amount of units...I think in Sky City's case, they were saying 50% which I think they are close to.  But there is a lot of controversy over that project because of some of the people involved.

They HAVE pre-sold a lot of units which is good, but those sales have seemingly stalled out just short of where they need to be, which is not so good.  I hope it gets built as it would be amazing for that area and would become Winnipeg's tallest building.  But with TNS and 300 Main, there are several projects ahead of Skycity that will fill the need for downtown residences.  300 Main will become Winnipeg's tallest building (until such time as Skycity is built, if it is).

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  • 2 weeks later...
On ‎9‎/‎5‎/‎2017 at 7:26 AM, The Unknown Poster said:

300 Main is already under construction to a degree.  There is work being done to move the HVAC and other systems that are currently in place so they can begin building.

They announce early for various reasons.  In the case of a place like TNS or 300 Main, they announce when there is something to announce.  So when agreements are made, when financing is secured, when start dates are confirmed etc.  It generates and keeps excitement (and large projects would get leaked if they didnt announce it).

In the case of Skycity, since its a condo project, it relies on selling X amount of units to unlock financing.  So making announcements and trying to generate excitement is all about generating condo sales.  They have to sell X amount of units...I think in Sky City's case, they were saying 50% which I think they are close to.  But there is a lot of controversy over that project because of some of the people involved.

They HAVE pre-sold a lot of units which is good, but those sales have seemingly stalled out just short of where they need to be, which is not so good.  I hope it gets built as it would be amazing for that area and would become Winnipeg's tallest building.  But with TNS and 300 Main, there are several projects ahead of Skycity that will fill the need for downtown residences.  300 Main will become Winnipeg's tallest building (until such time as Skycity is built, if it is).

I'd never give money to a developer for a condo down payment without it first either is under construction or completed.  Some people have been waiting years for this & still no actual word on when construction starts. If 50% isn't good enough then this project is doomed. Cue the lawsuits. 

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How do i say this... Lets just say.. There are a few more projects coming to downtown very soon.. Maybe 4 or 5 more... Sktcity is not one of them but... Regarding skycity... I will say that... There is lots of issues with the ppl in charge of skycity... But with that said... The COW (City of Winnipeg) wants it to happen and it pretty much will... But when is the actual question. Its not about units sold (they have enough) its about the group who proposed it.. Ill just leave this here.. Dont be surprised if Skycity starts building... But it probably wont be with the current developers. Thats the real hold up. Finding a local developer. Ill just say U of W gonna be doing more... Red River doing more.. A couple other projects also. Skycity will happen eventually.. Just nobody knows when yet. 

Edited by Goalie
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The COW gave SkyCity a 1 year deadline pretty much for them to get the funding to get it done. That was a couple months ago.. They have until roughly july 2018 to secure financing to start building... If when that doesn't happen.. The COW will take the project over and try and find a local developer

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55 minutes ago, Goalie said:

The COW gave SkyCity a 1 year deadline pretty much for them to get the funding to get it done. That was a couple months ago.. They have until roughly july 2018 to secure financing to start building... If when that doesn't happen.. The COW will take the project over and try and find a local developer

And then you can just about guarantee it won't be the tallest building in Winnipeg. 

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