A rare downtown character building has been upgraded from top to bottom and is looking for a new tenant.
The number above the front doors is 1912, but that is the approximate construction date rather than the address.
The building – at 101 6th St. S.W. – has had several uses over the years. The number 1912 is likely to be replaced by the tenant’s name when the 28,000-sq.-ft. character office building is leased, says Dan Shute of Phillips Bros. & Associates Land Development Ltd.
 |
| Renovated downtown office building at 101 6 St. S.W. awaits a new tenant after makeover. Left 5 |
Except for the brick structure, everything is new, from plumbing to the ability to custom-design business communications for the tenant’s needs. Fibre-optics options are also available. The building should be ready for tenant fit-out in December, which means a spring move-in day.
“There is a lot of pride in terms of the detail . . . in doing quality developments,” adds Shute.
The tenant will also have an opportunity for something different in office environments. With a single tenant, such things as building operating hours, security and janitorial service levels can suit the user, he says.
Downtown proper is short of character buildings, since most are in the Warehouse District or the Beltline, he says.
This one is right downtown, close to the river pathway, the Eau Claire YMCA and the market.
One of the building’s selling points is just outside: the view of the city’s core. Looking southeast toward the geographic centre of Calgary, a multi-toned forest rises in structural steel and reinforced concrete.
The economic heart of the city is close at hand.
A 28,000-sq.-ft. tenant would be lost in a high-rise, Shute notes.
New house prices across the nation rose a fraction of a per cent in August, Statistics Canada reports.
The national statistical agency’s new housing price index rose 0.2 per cent to August from July, and 2.9 per cent from August 2000. The national index was 106.5, based on a level of 100 in 1992.
The Calgary index was 136, up 0.1 per cent from July and 2.7 per cent from August 2000. Edmonton’s index was 114.5, up 0.3 per cent from July and 1.5 per cent over the year.
The index rose in 11 of 21 urban centres. Edmonton’s monthly increase was even with Montreal’s, St. Catharines-Niagara saw a rise of 0.5 per cent and Halifax a jump of 0.7 per cent.
Building permits in Calgary dropped 28 per cent in September, compared to the same month last year, the city reports.
The drop was mostly in non-residential construction permits, which fell 46 per cent. Residential permits were down four per cent, but single-family permits were up 14 per cent from last year.
September permits were worth $114.2 million, compared to $158 million in September 2000. The city received 1,170 applications for permits last month, up from 1,095 a year earlier. Residential permits issued in September 2001 were worth $66.9 million, down from $69.6 million a year earlier. Single-family permits were up to $57.1 million from $49.9 million in 2000.
Non-residential permits totalled $47.4 million, compared to $88.4 million last year.
Building permits to the end of September are down seven per cent from last year. On a national basis, the value of permits was up 11.2 per cent to the end of August, Statistics Canada reports.
August showed a 4.4-per-cent decline in permits, after four months of increases. Builders across Canada took out $3.3 billion worth of municipal permits, the national agency says.
Non-residential permits were down 11.9 per cent in August, and residential permits were up 2.5 per cent.
Municipalities across the country issued permits worth $26.8 billion to the end of August, Statistics Canada says.
H&R Real Estate Investment Trust announced an October distribution of 9.7 cents per unit to unit holders of record on Oct. 22.
H&R REIT has interests in 24 office properties, 48 single-tenant industrial properties, 12 retail properties and seven development projects, mostly in the Toronto area. Its units trade on the TSE.
An old rooming house in the Beltline is up for sale at with a sticker price of under half a million. The Monticello Apartments, on 14th Avenue off 7th Street S.W., was built in 1914 with addition dates from the 1940s, says Tim Crough of Toole Peet Real Estate. The 20 units have kitchens but share bathrooms and tenants are mostly students and young working people. It’s listed at $420,000.
Calgary’s Global Thermoelectric, which develops fuel cell technology for residential cogeneration among other applications, has signed a deal with another U.S. utility to explore marketing its products.
Citizens Gas Coke Utility of Indianapolis and Global Thermoelectric Inc. have agreed on a project to modify Global’s solid oxide fuel cell products and have Citizens distribute them.
The memorandum of understanding would be the basis of a future definitive legal agreement.
Citizens is the sole natural gas distributor in Indianapolis. Global is developing solid oxide fuel cell products and is the world’s largest maker of thermoelectric power generators for use in remote locations.
Web Watch:
www.hr-reit.com
www.toolepeet.com
www.citizensgas.com
www.globalte.com
