degrandprix
Active Member
"The lot" on 124st is for sale: https://www.realtor.ca/real-estate/28110828/12320-107-av-nw-edmonton-westmount
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- Thread starter Daveography
- Start date
constance_chlore
Senior Member
Residents of Edmonton building face 'renoviction' after huge hike | Daily Hive | Urbanized
Residents of a building in downtown Edmonton are scrambling to find somewhere new to live after receiving notices of massive rent increases.
dailyhive.com
It looks like rent at the Annamoe is being jacked up a lot. I have some sympathy for the new landlord's position, in that tenants were clearly paying well-below market rent for a long time, to the point that it was probably hard to keep up the building. That said, the person quoted in the article is basically facing a 200% rent increase—it's incredibly sudden!
IanO
Superstar
A tough situation for sure given new ownership and A LOT of deferred maintenance. My friend used to live in this gem and while it is dripping with character and charm, the kitchens/baths and associated plumbing and elec were all in dire need of replacement/repair.
I just really, really hope this owner is able to bring this building back to its former glory versus the alternative that we have seen far too often with our previous historic/character buildings as they go under renovation.
I just really, really hope this owner is able to bring this building back to its former glory versus the alternative that we have seen far too often with our previous historic/character buildings as they go under renovation.
policyenthusiast
Senior Member
Residents of Edmonton building face 'renoviction' after huge hike | Daily Hive | Urbanized
Residents of a building in downtown Edmonton are scrambling to find somewhere new to live after receiving notices of massive rent increases.
It looks like rent at the Annamoe is being jacked up a lot. I have some sympathy for the new landlord's position, in that tenants were clearly paying well-below market rent for a long time, to the point that it was probably hard to keep up the building. That said, the person quoted in the article is basically facing a 200% rent increase—it's incredibly sudden!
That is absolutely egregious. $850 to $2650 is not a "rent increase".
thommyjo
Senior Member
Pretty insane. But also people saying “anything else on the market is $600 more” shows that they’ve been saving tens of thousands of dollars the last few years. So it totally sucks now, but also pretty cool that they had such affordable housing for so long. Obviously can’t be sustainable though if what Ian is saying is true. Eventually bills come due to maintain the building.
David A
Senior Member
Yes, so $600 more could be in line with the market, but $1,800 more seems way out of whack. It is a very old building, not a new luxury high rise.
constance_chlore
Senior Member
Right, this is essentially an eviction, and I doubt the landlords could (or would even expect to) find tenants at these new rates—so what are they after? It's concerning.
archited
Senior Member
They may want to turn units into luxury suites where the interior layouts are changed out entirely... time will tell.
kcantor
Senior Member
It will be tough to turn them into luxury suites with no air conditioning and virtually no parking…
archited
Senior Member
^ Parking maybe but with more recent heat pump technology, AC would be an easy upgrade -- check-out Daikin VRV IV.
archited
Senior Member
Even Parking -- maybe they want to gut the basement level with access off of 100th Avenue for parking -- it is only down like 1/4 level. Anything is possible these days. If I was engaged in the project, I would take a swing at it. This would be a relatively easy conversion to condos with high scenic aspects re the river valley on a very quiet street.
Stevey_G
Active Member
But man are those commercial properties revenue generators. Good for business bad for aesthetic.
Airboy
Senior Member
St Albert would be a tough rebuild. That land is flood plain and marshy. The mall is a floating slab. all utilities are from above. I remember watching them setting pilings when they built it. Then when we added Sport Check the pilings were in 75ft of mud. I'll have to find my photos from that day.
kcantor
Senior Member
^
Except it’s not just the heat pump is it? It’s the ducting and the power requirements etc. that comes along with it.
And then you’ll probably want elevators.
Which will require an emergency generator.
Which will probably require a full electrical upgrade.
And sprinklers.
And in-suite laundry which means new plumbing stacks…
The issue is never just what you want, it’s what gets triggered by what you want.
Except it’s not just the heat pump is it? It’s the ducting and the power requirements etc. that comes along with it.
And then you’ll probably want elevators.
Which will require an emergency generator.
Which will probably require a full electrical upgrade.
And sprinklers.
And in-suite laundry which means new plumbing stacks…
The issue is never just what you want, it’s what gets triggered by what you want.
BASE
Active Member
I always dreamed of this area being a incredible redevelopment opportunity (over a long period). Situated nicely along the river as a signature link between the Botanica/Riverbank landing development and the historical downtown area. Currently the area is primarily made up of a older big box Canadian Tire, the mall, and a outdated low rise boardwalk rental apartment building facility.
