The Mah’s Point 2 condo complex on Second Avenue is being cancelled due to the lack of pre-sales. (Mike Thomas/Yukon News)

Competition topples Tippy Mah’s Whitehorse condo plans

Work suspended on 44-unit project after pre-sales fall short

Tippy Mah won’t be building Mah’s Point 2 at the corner of Strickland Street and Second Avenue.

The developer announced on June 13 that the condo complex didn’t reach the pre-sale objective required by lenders.

Carel Alexander, business manager for Mah, told the News the objective was to sell half the 44 units (four of which were penthouse suites), but that number wasn’t met.

Alexander said there have also been other competing developments which undercut the business case for Mah’s Point 2. She declined to name those projects.

Pat Ross, manager of land and building services with the City of Whitehorse, said the only comparable downtown development he was aware of is River’s Reach — a 44-unit complex on the waterfront.

Alexander also said the timeframe for construction was tight because of the nature of building in the Yukon, where the weather can dictate building schedules.

“Your days are numbered once the snow starts flying,” said Ross. “As most will tell you, you have a short window to really get a project of this size up and running.”

He said there’s no formal investment lost on the city’s part. So far, city staff had only done an initial review of the plan and provided comments and feedback on deficiencies. Ross declined to comment on what those were, though he said there was nothing significant.

“They always said up front that they were laying the groundwork to be in a position to get their permits in place to develop but it was always conditional on favorable presales,” said Ross.

At this point, he said the city will maintain the file as active for six months. If Mah’s plans change, the file can be re-opened as long as the plan doesn’t change.

Ross said it isn’t common that developers suspend projects. It’s more common in the fall, he said, when people are trying to get something done quickly and they realize there’s more work than they thought.

He also said the proposal met many of the planning criteria the city strives for in the downtown in terms of the look and feel of a concrete and steel building, which would have been eight storeys tall, but with stepped-back upper floors, so it wouldn’t form a sheer vertical wall from street level.

Mah would not speak to the News, but Alexander said he was disappointed.

“He’s been investing in the Yukon for 40 years,” she said.

“He successfully built Mah’s Point 1, but that was a few years ago and costs have risen.”

Mah built the original Mah’s Point building at Second Avenue and Jarvis. It opened in 2011, with 52 units.

Alexander said Mah doesn’t currently have any other development plans in the immediate future.

Contact Amy Kenny at amy.kenny@yukon-news.com

Just Posted

Woman airlifted to Vancouver after allegedly being dragged behind a pick-up in Whitehorse

Police say the investigation is ongoing but the driver and vehicle have been located

New secure medical unit at Whitehorse hospital in “pre-planning” stage

The Yukon’s 2019-20 budget allocated $1M towards the “planning and design” of a new unit

Yukoners win team competition at Native Youth Olympics 2019 Traditional Games Championship

The team of three finished first in the small team category

Judge orders eviction of Kopper King trailer over drug activity after SCAN investigation

Justice Suzanne Duncan issued the order March 22. The trailer will be closed off for 90 days

Whitehorse’s Etienne Geoffroy-Gagnon is making a splash on the slopestyle World Cup

The Yukoner is 20th in the world after skiing his way into a full season of starts

Yukon’s Ernest Chua wins pair of medals at Special Olympics World Games

Chua was the first Canadian to medal at the games

ANALYSIS: Yukon’s job market by the numbers

At only 3.2 per cent, the Yukon has the lowest unemployment rate… Continue reading

Whitehorse RCMP investigating ‘sextortion’ scams

Whitehorse RCMP are investigating after two “sextortion” scams were recently reported to… Continue reading

Yukoner Ed Hopkins wins 2019 Iditarod rookie of the year

Hopkins was the top Canadian musher in the field, finishing 21st

Martine LeLevier repeats as Granger Grind champion

LeLevier won this year’s race with a time of seven hours, 57 minutes and 53 seconds

Driving with Jens: Spring forward with your clocks and vehicle

Each spring when you move your clocks ahead an hour for daylight… Continue reading

Commentary: Do endangered species endanger industries?

CPAWS Yukon campaigns coordinator Malkolm Boothroyd says the Yukon needs species at risk legislation

Team Yukon finishes middle of the pack at 2019 Tim Hortons Brier

The Yukoners finished with a 3-4 record in pool play

Most Read