Posted Feb 9, 2024, 4:37 AM
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Join Date: Jan 2003
Posts: 4,328
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Quote:
Originally Posted by Coldrsx
A market of Edmonton's size with that sort of population influx should have 15 cranes up today in central Edmonton (see Ottawa, Calgary, Halifax).
However, given the depressed er cheap er affordable housing market, it has 1/3 of that.
Given the cost to build, replacement costs and market rents/saleable $/sqft and overall market demand for more urban product, it's not attracting the capital $$$ due to the low ROI, opportunity cost and lack of buyers/investors/interested parties.
This is changing, but Edmonton has a looooooooooong way to climb to see the activity it should be seeing.
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https://www.cbc.ca/news/canada/edmonton/...sing-hopes-for-market-comeback-1.7103604
People need affordable homes first, not tower crane counts. Developers need interest rates to retreat and the last of the post pandemic hangover to fade away. It always takes longer here.
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