What do you think of this project?

  • Total voters
    69
supaflyryguy said:
I would be fine with the boring design if the rental prices were low. Budget building, budget rent. If the rents are high, it's a miss.
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Oh sadly I fell they actually get the Edmonton mentality, people care how it looks inside and are fairly oblivious to the exterior. That has been fairly consistent here over decades.
 
David A said:
Yet somehow cities with rental prices much higher than ours have a lot more people living downtown. The fundamental problem here isn't how much it costs to live downtown, it is how appealing it is.

I suspect they will see how the market reacts and they have over priced, then they will need to adjust accordingly.
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...and perhaps that little detail of the cost of other forms of residential real estate in the city...
 
The rents are competitive for the 2/3 bedroom options. The 1 bedroom pricing is too high, I wonder if it's being priced to push people towards the 2br suites.
 
David A said:
Yet somehow cities with rental prices much higher than ours have a lot more people living downtown. The fundamental problem here isn't how much it costs to live downtown, it is how appealing it is.
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Yes and no.

Most of these cities have their baseline rental prices much, much higher than ours, as well. If renting in places like Westmount, Oliver, Garneau and Old Strathcona is cheaper than DT, and other places are even cheaper, for much more space, in a city that has such a strong SFH culture, you could make Downtown the coolest place on Earth that it wouldn't make a difference.
For $4k you could rent a whole 5 bedroom house, including your expenses in utilities, in fairly upscale neighbourhoods. With $3k you can rent a house and pay utilities in a place like Summerside, with lake access and everything.
These prices simply don't make sense AT ALL for Edmonton.
 
Yes, a good thing about Edmonton is a lot of people still have a choice, so if owing a SFH on a lake is their preference they are not forced into a cramped condo because of affordability.

I don't know for sure, but I suspect in some larger cities downtown locations may command a premium compared to say renting in a suburban area. I realize this is not where we are at, but then real estate market here is changing, those SFH's are not as affordable as in the past and they may be even less so in the future.
 
Vancouver and Toronto can also command such steep prices in the core due to traffic and possibility of car free living in the core. That frees up 500-1000/month for many. That’s how a lot of young people making under 100k afford to still be in those cities.

Here, a 20min commute can save you 500-700/month in rental cost. Our traffic isn’t bad, and our need for a car is higher. So most prefer to keep a car and commute with lower rents vs paying a premium for downtown. We may be close to traffic/parking downtown tipping in the next 5 years though to start being a bigger headache. My outer henday friends are whining more about commutes.
 
thommyjo said:
sadly, this is where the market is moving. Prices have jumped a lot the last 6 months. Stuff that was 1900-2200 is now 2200-2600.

still cheaper than Vancouver 🙃

(These pics are similar newer, but not luxury buildings)

View attachment 571712View attachment 571713
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At first I thought these screenshots were showing Falcon was charging $3400/mo for a 1 bed lol

Honestly though these are pretty par for the course for the core. 2 bed units in Icon and Fox are now even renting for $2k+/mo now (albeit they include most utilities).
 
thommyjo said:
Vancouver and Toronto can also command such steep prices in the core due to traffic and possibility of car free living in the core. That frees up 500-1000/month for many. That’s how a lot of young people making under 100k afford to still be in those cities.

Here, a 20min commute can save you 500-700/month in rental cost. Our traffic isn’t bad, and our need for a car is higher. So most prefer to keep a car and commute with lower rents vs paying a premium for downtown. We may be close to traffic/parking downtown tipping in the next 5 years though to start being a bigger headache. My outer henday friends are whining more about commutes.
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Well, if we actually had a better variety of retail stores and services you could walk to downtown, instead of so many empty store fronts, people in the areas be able to get by without a car too.

Instead we have large strip malls on the edge of downtown a bit far to walk to from the core and with so so bus service to them.
 
Allow me to interrupt yet another "woe is downtown Edmonton" discussion for a moment to share a couple of pics I took during my lunch break.

20240613_132911.jpg


20240613_132933.jpg

As you were! ;)
 
**Leaves to check the meaning of “elegant” in an actual real not online dictionary, cause anything online doesn’t match my understanding according to this building…
 
Is there a Real Estate dictionary? Because I am fairly sure there is a real estate language that seems similar to English but is somewhat different.

Spacious, affordable and world class amongst other words are not quite what we think they are. Personally, I feel the black stripe/curve is kind of elegant, but this building could have used more elegance IMO.

On the other hand, the building does mostly look like the picture next to the sign proclaiming its elegance.
 
David A said:
Is there a Real Estate dictionary? Because I am fairly sure there is a real estate language that seems similar to English but is somewhat different.

Spacious, affordable and world class amongst other words are not quite what we think they are. Personally, I feel the black stripe/curve is kind of elegant, but this building could have used more elegance IMO.

On the other hand, the building does mostly look like the picture next to the sign proclaiming its elegance.
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My favourite term is “luxury”. They'll slap that on anything
 
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