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Fwiw, Primaris did recently buy Southgate
dailyhive.com
Residents of Edmonton building face 'renoviction' after huge hike | 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!
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.
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.
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.
It will be tough to turn them into luxury suites with no air conditioning and virtually no parking…
