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IanO
Superstar
Sounds like they continue to struggle with lease up. A good article on multi-res here:
renx.ca
Last night
my own
Edmonton’s multires metrics heading in right direction
Edmonton remains one of Canada’s most affordable multresidential markets for both renters and investors, attendees heard at the virtual Edmonton 2021 Real Estate Forum. The sector has weathered the pandemic well, despite low immigration and post-secondary schools moving to online
renx.ca
Last night
my own
IanO
Superstar
I wonder if this will slow or alter 108st/jasper at all in a re-think of positioning and spec.
JC_Yeg
New Member
I am currently in the market for a central 2 bedroom rental. My Girlfriend inquired on both The Augustana and CX Grandin. Both look great inside, but it's tough to justify paying $2,000+ before parking for something smaller than my 70s era 1 bedroom. Especially when there is good bang for buck in owner rented recent downtown builds and well renovated Oliver buildings. I think a big incentive roll-out & September student return (Bank of M & D) could help their cause
Guy 1
Active Member
There's certainly something to be said for living in a brand new purpose built rental with all the amenities, but I totally agree with you. The options around $2k/month in the owner-rented condo market downtown are endless right now, and they usually include a parking stall.
MacLac
Senior Member
Well maybe if we quit talking about it….they won’t find out? Lol
Vacs
Active Member
I had a full tour of the building. nice quality, awesome amenities, quality finishes. too rich for my blood though
David A
Senior Member
A newer building has some appeal so the owners can charge a bit more, but there are limits to that. I think in this city you have to offer a good size unit if you want to charge more. Also, there are a number of older building that have been renovated or maintained that charge less, so there is plenty of competition.
JC_Yeg
New Member
If I was transferring to Edmonton for a downtown professional role, car-less, and already used to the $$$ / amenities of a big city it would check the boxes.
IanO
Superstar
Or an MLA wanting a good view of the 'sky palace' patio
David A
Senior Member
Yes, I thought that too!Or an MLA wanting a good view of the 'sky palace' patio
Of course, those would most likely be MLA's from out of town, who need to rent a place here.
KreationYEG
Active Member
northlands
Senior Member
For sale!
www.linkedin.com
Augustana: Best-in-Class Luxury Purpose-Built Rental Tower in Downtown Edmonton, AB | JLL Multifamily Ontario
New to Market | Augustana: A luxury 30-storey mixed-use development located in Edmonton, Alberta. The Property features an attractive mix of 240 residential rental suites as well as 6,052 square feet of commercial space on the main floor. Augustana is well-thought-out and provides residents...
www.linkedin.com
kcantor
Senior Member
although it says "new listing to market", i think it has been listed with ay for some time so this is a change in brokerage firms.For sale!
Augustana: Best-in-Class Luxury Purpose-Built Rental Tower in Downtown Edmonton, AB | JLL Multifamily Ontario
New to Market | Augustana: A luxury 30-storey mixed-use development located in Edmonton, Alberta. The Property features an attractive mix of 240 residential rental suites as well as 6,052 square feet of commercial space on the main floor. Augustana is well-thought-out and provides residents...
the fact it is/has been for sale is also likely to be one of the reasons that they're prepared to accept a longer lease-up time in exchange for protecting/maintaining rental rates.
