Recent content by PrestigeWorldwide

Why does anyone partner? they need $$$$$ and partners bring necessary equity and help de-risk project.

Definitely not a pre-existing arrangement and more about Westbank not being able to fulfil their obligations and being run out of town with their partners holding the bag

Urbanation tracks pre-con sales relatively accurately from my experience. this is where that % was taken from

see a lot of marketing on linkedin for this project. any ideas on when they launch?

certainly something going on in the background at that number. this wasn't a pure retail play... but it shows that that they will sit on this for a very long time

This pretty much confirms redevelopment is not part of the new owner’s long term plans. Moving Sleep Country out that quickly for a new user is typically a tell. Reads like a long-long-long term hold.

totally agree, just saying that even in this market... this particular building performed terribly relative to everything else despite having many redeeming qualities.

crazy that this project is so well located (not taking into account size and layouts here) and has only sold 7% of units and is still active. surprised it hasn't been officially cancelled and reworked.

also my understanding that Wesbank is now 100% removed from this project and their partner, BC-Based, Peterson Group is in charge of completing the construction and managing the commercial component. truly not sure if this will speed up the process of if it'll remain relatively slow as it's been...

Totally understand the nostalgia around Victory Cafe. It was a great spot and hard to replace. That said, from a commercial leasing and development standpoint, bringing back a former tenant 10 to 12 years after a project begins is extremely difficult. Operators evolve, economics change, and...

we have a brand - https://www.1marlborough.com/ and target launch for 2026 seems like they're intentionally not showing full heigh renders as their new height has not been publicly disclosed but imagine were looking at 13s They also recently painted the brick from white to beige which shows in...

The site has sold.

They clearly took a bath on this one, left holding the bag on the original $300+ psf land purchase (not that it matters to them for anything other than optics). The new partnership stepped in at a ~$22.5M discount to 2018 pricing... the only way this project could ever pencil, if it even does at...

my understanding is targeting end of year 2026. They will not be occupying until it's "hotel ready", ie. The entire building is ready occupancy by tenants, with no need for interim occupancy arrangements or phased possession, as is typical in condominium developments.

All I’m saying is let’s not mistake 'getting better' for 'great design.' This version is totally fine—perfectly safe—but not exactly inspired. Hard not to improve when the starting point was pretty uninspired. This feels like a remix of BDP’s recent work with other solid developers—1071 King...