Romanov
Active Member
JLL has listed this one for sale
- Thread starter Daveography
- Start date
IanO
Superstar
Here's hoping someone picks it up and develops it. I quite like this project for the area.
Clearshades
Senior Member
Another pit bites the dust...
cmd uw
Active Member
Good location. Should garner a fair amount of interest.
IanO
Superstar
Here's hoping someone can snag this and proceed with it. I for one love everything about it.
www.linkedin.com
#capitalmarkets #realestate #courtordered #judicialsale | Samuel Dean
JUDICIAL SALE: APPROVED MIXED-USE DEVELOPMENT OPPORTUNITY IN THE HEART OF OLD STRATHCONA, WHYTE AVE, EDMONTON, AB JLL Alberta Capital Markets has been appointed by the Court of Queen's Bench of Alberta to present the opportunity to acquire The Mezzo, a development site, located at 10506 – 81...
www.linkedin.com
IanO
Superstar
Mezzo court appointed sale.
Edmcowboy11
Senior Member
So the empty lot is worth that much?
IanO
Superstar
Kinda sorta.
$244/sqft with an approved DC in place in one of our most desirable neighbourhoods is about right.
Downtown land tends to go for $175-300/sqft, with certain lots north of 300 and closer to 400 such as Falcon.
$244/sqft with an approved DC in place in one of our most desirable neighbourhoods is about right.
Downtown land tends to go for $175-300/sqft, with certain lots north of 300 and closer to 400 such as Falcon.
Edmcowboy11
Senior Member
Ok. If that's the case so be it. Well hopefully someone will pay that amount and actually build something there.
Platinum107
Senior Member
There was something I really found cool about the Mezzo proposal and I hope it can be resurrected in some form!
David A
Senior Member
It was nice, but overly ambitious for the area. Whyte Ave is a popular area, but not really a high income one chock full of millionaires. It is a real mix of people at various income levels, many at more moderate levels.
It might have been the type of project that could have went ahead year ago when things were booming, but certainly not in these times.
Having said that, I hope something happens here soon. It is a good location and having that derelict lot is a real downer. I wish the quaint old church that was there was not torn down and left there until something was actually ready to be built.
It might have been the type of project that could have went ahead year ago when things were booming, but certainly not in these times.
Having said that, I hope something happens here soon. It is a good location and having that derelict lot is a real downer. I wish the quaint old church that was there was not torn down and left there until something was actually ready to be built.
IanO
Superstar
It had less to do with sales or demographics and more to do with a company in turmoil.
David A
Senior Member
I don't have any inside knowledge, so I can only go by what I see from the outside.
However, in my experience it would not be surprising that questionable choices and bad management go together and are fairly closely related.
However, in my experience it would not be surprising that questionable choices and bad management go together and are fairly closely related.
archited
Senior Member
People with high levels of entrepreneurial spirit sometimes trip up especially when circumstances don't go their way. If they were too close to the line and COVID hit, I can see their finances dry up. Too bad; it was a solid effort trying to do the right thing by the neighborhood. Some others are getting stretched to the breaking point in Edmonton right now -- I don't want to throw out any names and jinx their position.
Guy 1
Active Member
Indeed it's tough as a smaller developer, especially on projects of this scale - your wiggle room gets very tight. But I'm appreciative of the smaller guys (relatively speaking) who are willing to go for bigger projects like this.
It would be miserable if all we had was big, out of town developers willing to take on this scale of project.
It would be miserable if all we had was big, out of town developers willing to take on this scale of project.