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Venue Tower at the BOB - 20 Monroe Live - House of Blues/Live Nation Venue


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This will be fun to watch, with a great vantage point. FWIW, I'm not sure what the parking study said about the Fulton/Ottawa ramp occupancy rate but I had to go to almost the top floor to find a parking space today. 

Call this "Before"

 

I touched on that in another thread.  When they proposed this project there were hundreds of open spots.  Arena Place caused a lot of them to get scooped up.  If Spectrum's request for their move to 25 Ottawa is filled, the ramp will be at capacity.  The skywalk to that ramp will be completely worthless unless they can use that 5PM to 7AM pass.  All of the tenants will have to park at Campau.  I don't if this is going to be a huge problem, but I honestly can't see how it does not affect rents on the pro forma. On the other hand, it's possible they haven't figured this out yet and the heart attack is yet to happen.  But I can't imagine the developer doesn't know by now... I would be doing an emergency rework to put a ramp under it, but who knows how long that would take... 

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I touched on that in another thread.  When they proposed this project there were hundreds of open spots.  Arena Place caused a lot of them to get scooped up.  If Spectrum's request for their move to 25 Ottawa is filled, the ramp will be at capacity.  The skywalk to that ramp will be completely worthless unless they can use that 5PM to 7AM pass.  All of the tenants will have to park at Campau.  I don't if this is going to be a huge problem, but I honestly can't see how it does not affect rents on the pro forma. On the other hand, it's possible they haven't figured this out yet and the heart attack is yet to happen.  But I can't imagine the developer doesn't know by now... I would be doing an emergency rework to put a ramp under it, but who knows how long that would take... 

The skywalk is gone in the latest rendering. At least I think that is the latest rendering. There have been so many...

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  • 1 month later...
  • GRDadof3 changed the title to Planned additions to The BOB - Venue Tower

8 hours ago, MJLO said:

Maybe the are changing the tower to 6 floors.

Maybe they reduced it to 6 floors of living space and 6 floors of transparent parking ramp. 

Actually, the parking ramp crunch in the Ottawa/Fulton ramp expected from the 500 Spectrum employees may have put the skids on the tower portion for a bit. I don't know that for a fact but it was alluded to a few months ago I think in this thread or the 25 Ottawa one. 

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On 12/13/2015 at 10:52 PM, joeDowntown said:

Personally, I think it was another stall tactic. Dig up the parking lot and I guess technically they met the promise of starting construction. I think these projects will happen but I wish they'd just get to it. How many years and how many times has this been delayed?!

joe

Someone here said the project will begin in earnest in December. Well, I'd say maybe we see action tomorrow, a Monday?

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19 hours ago, joeDowntown said:

Maybe they will start on the 24th? haha

Joe

 

I can see Gilmore in his office sweating bullets thinking, "When I said December, I assumed there'd be lot's of snow.  Then we could've used that as an excuse why we weren't starting.  What the hell is up with this warm weather???  I know, tear out the traffic islands.  At least it will look like we're doing something."

 

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8 hours ago, wingbert said:

 

I can see Gilmore in his office sweating bullets thinking, "When I said December, I assumed there'd be lot's of snow.  Then we could've used that as an excuse why we weren't starting.  What the hell is up with this warm weather???  I know, tear out the traffic islands.  At least it will look like we're doing something."

 

I want this to be a success, but it's starting to seem like empty promises. From what I recall, this was going to be a 20, then 14, now 12 or maybe even 10 story building. I think the V.e.n.u.e. stands for: Very-empty-nightclub-unreal-expansion. 

 

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The whole thing seems awfully risky to me without parking.  Ottawa/Fulton is now totally full.  There is no way they saw that coming when this was on the drawing board.  I think it's a big enough problem that it's worth going back to the city and submitting new plans with a parking ramp, but time will tell, I suppose. 

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  • GRDadof3 changed the title to Venue Tower at the BOB - 20 Monroe Live - House of Blues/Live Nation Venue

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