What do you think of this project?

  • Total voters
    27
thommyjo said:
Can anyone help me understand how Calgary got multiple huge towers started the last few years and yet their rents are declining and not much higher than ours currently, yet we can’t get anything beyond stick frame cheapos?

We need Truman up here.
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We need the city to adjust the design guidelines, so even the cheapos could look somewhat decent.
 
thommyjo said:
Can anyone help me understand how Calgary got multiple huge towers started the last few years and yet their rents are declining and not much higher than ours currently, yet we can’t get anything beyond stick frame cheapos?
Click to expand...
After COVID, they were victims of the same real estate speculation that plagued the Toronto condo market, whereas we weren’t. I remember driving past a new condo by Canada Olympic Park a couple weeks ago and remarked at how empty it appeared based on most of the balconies having been untouched.
 
thommyjo said:
Can anyone help me understand how Calgary got multiple huge towers started the last few years and yet their rents are declining and not much higher than ours currently, yet we can’t get anything beyond stick frame cheapos?

We need Truman up here.
Click to expand...
When a lot of their currently under construction highrise projects were being penciled over the past 2-3 years, average rent in Calgary was approx. 25% higher than Edmonton. That's a pretty substantial amount difference considering fairly equal construction costs.

Even today their average rent is still a solid 15%+ higher than Edmonton.
 
Yes, rent is still higher there and increased earlier while the condo and high rise building boom was still on. Here rent started to increase right around the time that was ending.
 
thommyjo said:
Can anyone help me understand how Calgary got multiple huge towers started the last few years and yet their rents are declining and not much higher than ours currently, yet we can’t get anything beyond stick frame cheapos?

We need Truman up here.
Click to expand...

Wasn't it only a couple years ago the big rally cry was 'The Missing Middle' and now that we have a bunch of 4-6 story projects...we are upset by only getting stick frame construction?

If you want better architectural design, sure, no argument here...but when the market size is limited, you can't have unlimited high-rise projects.
 
It could be the case that people have been complaining either way, but often when that appears to be happening it's two entirely different groups of people who are only vocally complaining when they aren't getting their way, giving the impression that the "general public" won't make up their minds and keeps flip-flopping
 
northlands said:
When a lot of their currently under construction highrise projects were being penciled over the past 2-3 years, average rent in Calgary was approx. 25% higher than Edmonton. That's a pretty substantial amount difference considering fairly equal construction costs.

Even today their average rent is still a solid 15%+ higher than Edmonton.
Click to expand...
Bingo.
 
northlands said:
When a lot of their currently under construction highrise projects were being penciled over the past 2-3 years, average rent in Calgary was approx. 25% higher than Edmonton. That's a pretty substantial amount difference considering fairly equal construction costs.

Even today their average rent is still a solid 15%+ higher than Edmonton.
Click to expand...
Wasn’t it like that before too though? Edmonton has lagged Calgary for quite some time.
 
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