Quote:
Originally Posted by hulkrogan
Not to be the porcupine at a balloon party...
But I bet what you see under construction now will be about it for a while. I'd imagine there are going to be quite a few people walking away from deposits in the near term, overall softening of prices and Calgary's population numbers are sure to stumble a bit.
The question is just for how long. I hope not long. Something like the 90s where it's a good 10 years until we see any major construction would suck.
Not sure on what condo numbers are looking like, but the market is being flooded with Class A office space at near the price of service and there is still no one picking it up.
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That's really not how it works. Verve is already well over 70% sold, so yes it will be getting underway this summer, and the RioCan block already has anchor tenants signed so yes will also be getting under way this summer. Cidex's East Village Tower, as it is rental, also has a good chance to get underway during the downturn, because rental towers don't need pre-sales to move forward (and our rental market is still going gangbusters). We could also see the ALT Hotel and XYC Building go ahead as they are commercial. Not to mention the New Central Library and Fort Calgary redevelopment
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