Glenco
Senior Member
They already have some rails embedded in the area in front of of Switch running north and south which is odd because the tracks used to run east west.
- Thread starter Daveography
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IanO
Superstar
Any word on tower 2? Going or postponed?
MacLac
Senior Member
Hmmmmm.....something about the timing of this question Ian.....makes me wonder. Is it an innocent question merely inquiring? Or is it a prelude to something akin to, "see I told you guys - concrete construction is not economical in DT YEG!"
EtoV
Active Member
Or...sometimes a question is just a question?
Glenco
Senior Member
Or maybe he should have said postponed instead of canceled
IanO
Superstar
Little column a, little b.
MattPT
Active Member
From talking to someone in new home sales, new homes are still moving like they’re giving them away for free… is rental as hot still? We went from not a whole lot of rental stock added for years to a building boom. Time for a little pause? or maybe interprovincial migration is still strong filling the gap of decreased immigration?
David A
Senior Member
I wonder why there are not more new condos here, especially with rents increasing quite a bit recently and prices for new homes going up too.
Also, existing condos seem more affordable here than almost any other city in Canada.
You would think at some point demand would cause prices to increase and/or more supply to be built.
Also, existing condos seem more affordable here than almost any other city in Canada.
You would think at some point demand would cause prices to increase and/or more supply to be built.
SMayo
Active Member
Like you said, condos are more affordable here. So if a developer can't start their pricing at $500k and up for small 1 bedroom condos like in the other major Canadian cities they aren't going to build to the same extent.
It's not about building homes it's about making money.
kcantor
Senior Member
You can buy quality existing high-rise condos in this market in the $200 psf range. It's pretty tough to compete with that if need to start your pricing at $500.
Having said that, I don't think you need to start pricing at $500 to make a reasonable margin but you certainly can't compete with $200 (noone is going to build and sell for considerably less than their cost to develop).
Having said that, I don't think you need to start pricing at $500 to make a reasonable margin but you certainly can't compete with $200 (noone is going to build and sell for considerably less than their cost to develop).
David A
Senior Member
I agree they are related. Of course prices for new are always going to be higher than for older existing places but I agree much lower prices for existing ones can reduce the demand for new ones.
However, I suppose my question is a broader one, why are condo prices higher almost every where else, I think even in places like Winnipeg which is not know for its high housing prices? Edmonton seems to be quite an anomaly.
crisp
Active Member
I think the oil crash, and then the pandemic, really crushed a lot of downtown Edmonton development momentum. Add in unknown reasons to increased homeless and we got an exodus out of downtown. I know all this was not specific to only Edmonton, but the soup just seemed to mix really well here.
I think majority of people in Edmonton just really love their truck accessible wide roads and are generally car-dependent. When I lived downtown Edmonton in the mid 2010s one of my biggest observations was how dead the streets were during the day especially weekday, and I'm talking foot traffic on 104 street. To me that proved that even though we had all these new towers on 103/104, majority people living there always hopped in their car when they left the house.
I would also assume that with Edmonton's downtown workforce not being all that big, a lot of people living downtown don't actually work downtown (or at least a larger ratio than compared to other cities). But then add in all the negative impacts I had mentioned above, and a looooot of people probably said f*ck this I'm moving back out to the burbs where my truck can fit any road and I don't have to deal with bums. Causing a huge price drop in condos because simply, nobody wants to live there.
I think majority of people in Edmonton just really love their truck accessible wide roads and are generally car-dependent. When I lived downtown Edmonton in the mid 2010s one of my biggest observations was how dead the streets were during the day especially weekday, and I'm talking foot traffic on 104 street. To me that proved that even though we had all these new towers on 103/104, majority people living there always hopped in their car when they left the house.
I would also assume that with Edmonton's downtown workforce not being all that big, a lot of people living downtown don't actually work downtown (or at least a larger ratio than compared to other cities). But then add in all the negative impacts I had mentioned above, and a looooot of people probably said f*ck this I'm moving back out to the burbs where my truck can fit any road and I don't have to deal with bums. Causing a huge price drop in condos because simply, nobody wants to live there.
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constance_chlore
Active Member
[citation needed]
crisp
Active Member
I don't have citations, this is all just personal opinion of things i seen, read, heard.
But here you go, citation of an incident that I think had a profound effect on the populous perception of downtown Edmonton.
But here you go, citation of an incident that I think had a profound effect on the populous perception of downtown Edmonton.
constance_chlore
Active Member
That's not the claim that needed to be justified!