[Clearshades]

Are we the next Calgary?

 

[Clearshades]

Are we the next Calgary?

We are Edmonton, the Next Edmonton and ALWAYS Will BE. You can't move a city physically down south.

 

[bodsbods9090]

Lots of chatter about Edmonton real estate right now. It's a new look for sure.

As in people/builders wanting to invest here and build projects or people moving here and buying?

 

[strata]

Had lunch with a homebuilder last week that told me their same 2200sqft model is now $270,000 more in suburb Calgary compared to suburb Edmonton. He thinks the delta will grow above $300,000.

Don't think we will see a real estate boom as large as 2023 Calgary, but there is no doubt that the price per door difference between the two is going to push a lot of purpose built rental investment up the road.

I still think a lot of the retail buyers coming from BC/Ontario/International will prefer paying the premium to stay around Calgary given the proximity to mountains, more established downtown, more flight options from YYC

 

[Clearshades]

Much of the historical pricing difference of around $100,000 to $150,000 between Edmonton and Calgary was due to size and age of housing stock. More housing was built here from the 1940's to the 1960's and it tended to be smaller.

But the difference is becoming considerably larger now. People coming from elsewhere may not initially know all the ins and outs of Alberta real estate, but once they figure out they can get a place for much less here, some of the enthusiasm for Alberta's higher priced city may wane.

There are ample Edmonton blogs on YT that foreigners actually comment to ask questions between Edmonton and Calgary pertaining to affordability...

 

[Friendmonton]

 

[Gus Haynes]

Can I get an encore, do you want more
Cooking raw with the Brooklyn boy
So for one last time I need y'all to roar
Now what the hell are you waiting for

 

[archited]

Ah yes, the days when Westrich Pacific showed promise as a primo developer.

 

[David A]

Well this took forever to happen, but sometimes things do work out quite nicely. However, this and all the other residential towers added downtown over the last decade or two have still failed to revitalize it.

So unfortunately another residential tower (or two) will not be the magic bullet solution to reviving this area and the downtown core that some think. There is more to this and I feel it involves also working hard on three other things at the same time: improving public safety, attracting more jobs to the downtown core and attracting some interesting retail that will draw both residents and visitors to downtown.

 

[Gronk!]

improving public safety, attracting more jobs to the downtown core and attracting some interesting retail that will draw both residents and visitors to downtown.

 

[Avenuer]

View attachment 687193

How many of the original condo units did Westrich convert to rentals? I know it's not the entire building like with The View, but I feel it's a significant percentage.

 

[David A]

Yes the city and Edmontonians continue to sleepwalk through downtown revitalization or maybe do it half awake, with predictable results.

 

[IanO]

 

[archited]

^ Reminiscent of the days that were.

 

[David A]

Lest we forget this took forever to build, although in the end it did turn out quite well.