Edmonton Construction Part 14 (October 2023)

[EdmTrekker]

Originally Posted by CMD UW

It would be interesting to know how many of 20-34 YO are new immigrants.

Another scary stat is the lack of new rental stock added in the Toronto and Vancouver markets.

Not when you consider the Net Interprovincial Migration in Canadian Census Metropolitan Areas in 2022/2023 - the post below yours. You would have to go back 10 years to see the trend and 10 year where Toronto gained population rather than lost people.

[WhipperSnapper]

Net new 20 to 34 years olds infers that negative migration has been factored in.

16000 negative migration in one year is a fraction of people arriving in Toronto. The annual growth in temp visas staying in Toronto is more than 16,000. Migration stats mean little as the country's preeminent landing pad.

Investors buy the majority of condos and rent them out. A large newly completed condo often has hundreds of units for lease on MLS.

[CMD UW]

Originally Posted by WhipperSnapper

Net new 20 to 34 years olds infers that negative migration has been factored in.

16000 negative migration in one year is a fraction of people arriving in Toronto. The annual growth in temp visas staying in Toronto is more than 16,000. Migration stats mean little as the country's preeminent landing pad.

Investors buy the majority of condos and rent them out. A large newly completed condo often has hundreds of units for lease on MLS.

What I am trying to determine is what is the proportion of people in that age bracket are new immigrants. It's likely correlated to new immigrants arriving to the country which are primarily through YYZ and YVR.

[Coldrsx]

[Coldrsx]

https://www.linkedin.com/in/david-j-olso...hip3_feed%3BaVP3rTiGT2KS9zMZW8phOQ%3D%3D

[Hardhatdan]

Originally Posted by Coldrsx

https://www.linkedin.com/in/david-j-olso...hip3_feed%3BaVP3rTiGT2KS9zMZW8phOQ%3D%3D

Possible casino option...that's the sales pitch? A casino on Whyte.

[Harrison]

Had no idea the Commercial Hotel was going to be on the market...

[CMD UW]

Originally Posted by Harrison

Had no idea the Commercial Hotel was going to be on the market...

This one has been 'loosely' up for grabs for awhile. More legit now that it's listed.

[Coldrsx]

Reference ID: Job No 514632699-002
Description: To construct interior alterations inside an Office building (Create Common area lobby and new demise walls for existing tenant downsize)
Location: 10065 - JASPER AVENUE NW
Plan F Lots 1-5
Applicant: SEAGATE CONTRACT MANAGEMENT LTD.
Status: No DP Required
Create Date: 2024-05-31T16:48:05Z
Neighbourhood: DOWNTOWN

[EdmTrekker]

Originally Posted by Harrison

Had no idea the Commercial Hotel was going to be on the market...

I would hate to lose the Blues on Whyte as a venue ... I am sure my many visits there count in hundreds. Guess time will tell what can or might happen to this historic building. Maybe it needs an owner with a big heart for the Blues. The hotel operation -could possibly be redeveloped into rentals?

[Rocket252]

I agree. The Blues on Whyte is a fixture there for many years and should be kept. We lost the Side Track and I regret seeing that live music place go.

[Build.It]

So is any work gonna get done in Edmonton the next week or so?

[TimB09]

Originally Posted by Build.It

So is any work gonna get done in Edmonton the next week or so?

Yes, yes it is!

[WhipperSnapper]

Originally Posted by CMD UW

What I am trying to determine is what is the proportion of people in that age bracket are new immigrants. It's likely correlated to new immigrants arriving to the country which are primarily through YYZ and YVR.

I wasn't responding to your post. However, I would say just about every one of the 376,000 is coming from abroad.

[YEG-Urbanist]

Curious to see if National Bank purchasing Canadian Western Bank will impact its move to Manulife Place.

[JSS1974]

Originally Posted by YEG-Urbanist

Curious to see if National Bank purchasing Canadian Western Bank will impact its move to Manulife Place.

Or do they relocate to Montreal or Calgary.

[Hallsy's Toupee]

It's my understanding from the press release that they'll keep their western HQ in Edmonton. I assume the Manulife Place renovations will still proceed. I'm just wondering if they'll continue their branch in Ice District and open a flagship branch in Manulife at the same time.

[EdmTrekker]

Originally Posted by JSS1974

Or do they relocate to Montreal or Calgary.

I don’t think there will be any relocation for 3-4 years but will be a build-up of certain sectors of the business in each of the 3 big cities Vancouver, Calgary, Edmonton. But if there is only 1 Western Office it will be to Vancouver. 3 or 4 of the current CWB Board including the Chair are residents of Vancouver. Let’s not forget they are taking 3 years to find the $270 million in cuts to operations and find efficiencies to pay for this deal. And the approvals for this deal from Federal regulators will take 1-2 years. So 5 years to right size and fully fold into National Bank.

[YegFan]

just like other acquisitions, they will eventually vacate Edmonton and set up shop in other cities. While CWB is small, it is a major tenant in downtown Edmonton and one that is not easy to replace over the years.

[EdmTrekker]

Originally Posted by YegFan

just like other acquisitions, they will eventually vacate Edmonton and set up shop in other cities. While CWB is small, it is a major tenant in downtown Edmonton and one that is not easy to replace over the years.

Started in Edmonton. "In 1988, the Bank of Alberta merged with Western & Pacific Bank to form Canadian Western Bank (CWB)." "When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard[1][3] and Eugene Pechet,[1][3][4] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta.[4] The Government of Alberta supported the newly formed Bank of Alberta by investing in 5% of its shares.[5]

Wiki:https://en.wikipedia.org/wiki/Bank_of_Alberta

Too bad ATB Financial was not put on the market by the UCP before CWB was shopped around. Then there would have been some muscle in a Western based bank.
'n March 2019, Finance Minister Joe Ceci revealed the Government of Alberta had received a detailed offer from Scotiabank to purchase ATB Financial; however, the amount offered to privatize ATB was not provided by Ceci.[67] https://en.wikipedia.org/wiki/ATB_Financial