What do you think of this project?

  • Total voters
    69
thommyjo said:
It has a huge impact cause many of the new projects in Calgary are 25-50% investors buying the units. And a good chunk of those are people out east.

But as their condo market has fallen off a cliff, people will be in big trouble as term renewals come up due to plummeting values. Or all the pre-con stuff coming online at 20% less than pre sale value. A lot of investors will be in survival mode, not, “let’s buy new condos in prairie markets”.

And without the outside investor money, I don’t think you can sell 200+ unit buildings here.
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Whatever is happening in Toronto or Calgary, I'm not aware of any such 200 unit condo buildings planned or happening here now.
 
David A said:
Whatever is happening in Toronto or Calgary, I'm not aware of any such 200 unit condo buildings planned or happening here now.
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That’s my point. No one will propose condos here because they won’t hit the presale numbers they need. Part of the reason is local hesitation to condos, but another is a lack of out of province investor interest due to condo gluts elsewhere.

The 8plexes though? Lots of BC/ON investors getting in on those due to shorter timelines and better returns.
 
I don't think Edmonton was ever geared towards building condo's for investors as Toronto (and to a much lesser extent) Calgary was.

So what I was trying to say is whatever is happening with that there is really irrelevant here. It neither makes condo development more or less likely here.
 
David A said:
I don't think Edmonton was ever geared towards building condo's for investors as Toronto (and to a much lesser extent) Calgary was.

So what I was trying to say is whatever is happening with that there is really irrelevant here. It neither makes condo development more or less likely here.
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In previous work I did I met tons of people visiting from Tor, Van, Cal that were here for their investment condos. Maybe it’s purely anecdotal and just correlation, but the housing stall in the big markets is lining up with the fact that there’s no housing over 6 stories currently going up in Edmonton.
 
My impression was most of the investment buying that was here was for existing and often older condo's because they were so affordable here, not really for new building like in TO.

The end of super low interest rates, higher costs and prices has made much of that new building in TO uneconomical, but most of the housing over 6 stories recently built here was purpose built rentals, not condos.
 
IMG_9769.jpeg

Ya know what, this is much better than another weed store.
 
bodsbods9090 said:
Langham's gotta have something in the works I'd imagine...
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In discussing the Student Housing Incentive fund today, an ammendment was passed to extend the priority project area to include both sides of 104st as far south as 100Ave.

What project on 104st on 100Ave could benefit from this ammendment? Hmmm

I'd say Falcon 2 is moving ahead.

The first housing applications must be received by the city by Sept 30 and then the city will identify those projects within 2 weeks so things can get moving as this federal funding has tight timelines.
 
TAS said:
In discussing the Student Housing Incentive fund today, an ammendment was passed to extend the priority project area to include both sides of 104st as far south as 100Ave.

What project on 104st on 100Ave could benefit from this ammendment? Hmmm

I'd say Falcon 2 is moving ahead.

The first housing applications must be received by the city by Sept 30 and then the city will identify those projects within 2 weeks so things can get moving as this federal funding has tight timelines.
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