Edmonton Construction 13 (November 2015)

[feepa]

Originally Posted by YegFan

^ These numbers don't suggest to me that people are flocking into our city from all over the country.

I don't get how the real estate market in the city is always so depressed.

Most of the rest of the major urban centers in this country are over priced, ballooning, bubbling. Only in Edmonton would be upset that our housing prices are kept modest and affordable for most.

Toronto, Vancouver, Calgary, etc... all wish they were more affordable. Here we are looking at them with envy on this? Really?

[CaptainBL]

Originally Posted by feepa

Most of the rest of the major urban centers in this country are over priced, ballooning, bubbling. Only in Edmonton would be upset that our housing prices are kept modest and affordable for most.

Toronto, Vancouver, Calgary, etc... all wish they were more affordable. Here we are looking at them with envy on this? Really?

Not that I am complaining about affordability but there is almost a blatantly obvious reason why Vancouver, Toronto, and now Calgary are less affordable such as attractiveness of the city and lifestyle, plentiful career opportunities and job growth, strong economic investment and growth all pushing demand higher and prices higher...

And then there is Edmonton, Saskatoon and Winnipeg as "more comfortably affordable"...

[s211]

Originally Posted by YegFan

^ These numbers don't suggest to me that people are flocking into our city from all over the country.

I don't get how the real estate market in the city is always so depressed.

Availability of land certainly keeps prices in check.

Edmonton's economy is not diverse enough, and thus gets wild price swings, usually tied to fortunes in the resource industry. The resource industry can also depend on labourers moving into the province to take jobs when necessary, and those people might not stay when fortunes reverse.

Edmonton's rental market similarly has an incredibly wide deviation in occupancy rates, versus more stable or supply constrained markets.

[Hallsy's Toupee]

Originally Posted by Coldrsx

Reference ID: Job No 480619108-002
Description: To construct interior alterations
Location: 9804 - 107 STREET NW
Plan 1720026 Blk G Lot 2
Applicant: ELLISDON CONSTRUCTION SERVICES INC.
Status: No DP Required
Create Date: 2023-08-08T13:25:59Z
Neighbourhood: DOWNTOWN

This address takes me to the Government Transit Centre on 107 St near the Legislature grounds.

[YegFan]

Originally Posted by s211

Availability of land certainly keeps prices in check.

Edmonton's economy is not diverse enough, and thus gets wild price swings, usually tied to fortunes in the resource industry. The resource industry can also depend on labourers moving into the province to take jobs when necessary, and those people might not stay when fortunes reverse.

Edmonton's rental market similarly has an incredibly wide deviation in occupancy rates, versus more stable or supply constrained markets.

I don't know why a city like Windsor ON has an average price of $540K vs a very prosperous city like ours.

[JSS1974]

The world does ask the question: “what is Edmonton and where is it?”

Calgary steals the thunder of this province.

[feepa]

Originally Posted by CaptainBL

And then there is Edmonton, Saskatoon and Winnipeg as "more comfortably affordable"...

I'd add Ottawa, Hamilton, Regina to that list, and Edmonton is better than all those for the most part.

And the only reason Calgary has elevated itself out of that tier of city is because of proximity to mountains. That has attractiveness that you can't just buy or build out in the middle of the parkland, or prairies. The proximity has made HQ more desirable, made travel more desirable, which makes YYC airport and the city what it is.

[Coldrsx]

Nice!
---
Clarity Development Advisory

Project Spotlight! ������

We're thrilled to announce our latest project success! Edmonton City Council has unanimously approved our application to amend the Strathcona Area Redevelopment Plan and rezone two lots in the trendy neighbourhood of Strathcona. Located along 99 Street, this rezoning from CNC and RF2 to CB1 sets the stage for an incredible commercial hub, as Beljan Development embarks on the adaptive reuse of two existing buildings previously home to Catholic Social Services.

https://beljandevelopment.com/projects/mill-creek-west/

[Coldrsx]

Avenuer on SRC
https://edmonton.skyrisecities.com/forum/threads/upper-vista-towers-108m-33s-evertrust.34311/page-4

[WhipperSnapper]

Originally Posted by CaptainBL

Not that I am complaining about affordability but there is almost a blatantly obvious reason why Vancouver, Toronto, and now Calgary are less affordable such as attractiveness of the city and lifestyle, plentiful career opportunities and job growth, strong economic investment and growth all pushing demand higher and prices higher...

And then there is Edmonton, Saskatoon and Winnipeg as "more comfortably affordable"...

Job growth like a 1000 people lining up for 5 jobs at McDonald's. Strong economic investment is a real estate Ponzi scheme. Edmonton has been ignored by investor and immigration lists. Enjoy it. It probably won't last as Toronto based investors flee their city and overpay by hundreds of thousands because they can. Ask the Maritimes

[s211]

Originally Posted by JSS1974

The world does ask the question: “what is Edmonton and where is it?”

Calgary steals the thunder of this province.

Don't forget "why is it?". Calgarians loves asking that one, just to rub the salt in.

[CaptainBL]

Originally Posted by WhipperSnapper

Job growth like a 1000 people lining up for 5 jobs at McDonald's. Strong economic investment is a real estate Ponzi scheme. Edmonton has been ignored by investor and immigration lists. Enjoy it. It probably won't last as Toronto based investors flee their city and overpay by hundreds of thousands because they can. Ask the Maritimes

Uhhh.......yes ok......

[Kevin_foster]

Originally Posted by Coldrsx

Avenuer on SRC
https://edmonton.skyrisecities.com/forum/threads/upper-vista-towers-108m-33s-evertrust.34311/page-4

Kind of looks like 2001 Station lands

[YEG-Urbanist]

Originally Posted by Kevin_foster

Kind of looks like 2001 Station lands

It's "fine". I wish Edmonton developers would show a little more creativity and innovation with their projects. But it will be nice to have a little more density added to the Quarters.

[YEG-Urbanist]

So now that the little anex is pretty much completed on the Canadian Western Bank building, I'm left wondering what was the point?

I assume the intent was to modernize to attract new tenants. But honestly, it seems like a total waste of money. They spent millions of dollars, and unless you are really paying attention as you drive by, you wouldn't notice a difference. Instead of using the same old dated grey cladding as the rest of the building (God knows, Edmonton loves its boring grey), they could have used something more modern and contemporary.

The owners would have been better off spending half the money, by adding some detail to the entry way, and doing some proper streetscaping. They could have created an awesome meeting space with a water feature, or commission a piece of local art for the corner of Jasper and 103. Instead they threw down a bunch of dirt and added some plants.

[YEG-Urbanist]

Now that I'm ranting, another thing that I find really annoying is how the city is constantly replacing trees downtown, because people are constantly snapping and kicking them down. If the city isn't going to plant appropriate trees (more mature or different species), at least put tree guards around them to prevent them from being damaged.

[Wigs]

Originally Posted by Hallsy's Toupee

Last I heard, Daryl Katz is one of the wealthiest men in Alberta.

Number 13 wealthiest in Canada according to this list from March
https://www.wealthprofessional.ca/invest...wealthiest-billionaires-in-canada/374146

[Wigs]

Originally Posted by Coldrsx

Originally Posted by YegFan

^ These numbers don't suggest to me that people are flocking into our city from all over the country.

I don't get how the real estate market in the city is always so depressed.

Same. Being from southern Ontario and having been to Edmonton a few times (pre pandemic) I'm still amazed!
One can actually afford a condo or single family house on a modest income or modest family income for a couple.
Yet the city is over 1M and the metro is near 1.5M by now in 2023 and growing.

By comparison here's the the Niagara region

Benchmark price is a typical 3 bedroom, 2 bath home age 51-99 years (homes in Ontario tend to be much older than Alberta)
It costs $230k more for a single family home and about the same difference for a decent condo compared to Edmonton despite being 1/3 the size.

[JSS1974]

Originally Posted by Wigs

Same. Being from southern Ontario and having been to Edmonton a few times (pre pandemic) I'm still amazed!
One can actually afford a condo or single family house on a modest income or modest family income for a couple.
Yet the city is over 1M and the metro is near 1.5M by now in 2023 and growing.

By comparison here's the the Niagara region

Benchmark price is a typical 3 bedroom, 2 bath home age 51-99 years (homes in Ontario tend to be much older than Alberta)
It costs $230k more for a single family home and about the same difference for a decent condo compared to Edmonton despite being 1/3 the size.

Edmonton is an ignored city that most Canadians are unaware of.
Even the provincial government is unaware of it, and they are the provincial capital.
It’s an interesting situation to be in for the fifth largest city in Canada with a metro population of 1.5M+
But hey if people want to spend 1.5-3x for the same house in another province or city, then who am I to stop them

[Coldrsx]

Stationlands Res.

filip.nowak@src
https://edmonton.skyrisecities.com/forum...ers-90m-25s-qualico-dialog.25120/page-58

One12

fromyeg@src
https://edmonton.skyrisecities.com/forum/threads/edmonton-one12-46m-14s.32217/page-13