Edmonton Construction Part 14 (October 2023)

[TimB09]

Originally Posted by Harrison

Yup, plus a young and growing population. All good things, unless you are a speculative real estate investor in Edmonton lol. Homes are for living in, not for profiting from.

Bingo!

[CMD UW]

Originally Posted by Harrison

Yup, plus a young and growing population. All good things, unless you are a speculative real estate investor in Edmonton lol. Homes are for living in, not for profiting from.

Keep your eye on supply. That's really it. So far YEG has been able to keep supply up with demand (although I expect conditions to continue to tighten up over the next 12-24 months).

Since housing is primarily supplied by private enterprise it HAS to be profitable. Unless we want to 'centralize' supply delivery through the government, investors (whether speculative or not) will need to sell housing for a profit. And I really don't care what one's own opinion is of the matter, this is the way it is in the free market economy.

[feepa]

There's making a profit, and then there is gouging. And there is a lot of the latter happening in the rest of the country.

[Coldrsx]

Originally Posted by CMD UW

Keep your eye on supply. That's really it. So far YEG has been able to keep supply up with demand (although I expect conditions to continue to tighten up over the next 12-24 months).

Since housing is primarily supplied by private enterprise it HAS to be profitable. Unless we want to 'centralize' supply delivery through the government, investors (whether speculative or not) will need to sell housing for a profit. And I really don't care what one's own opinion is of the matter, this is the way it is in the free market economy.

Bingo. We are getting very, very close to capacity with our construction/development industry and that is expected to occur by next summer according to BILD AB.

If the migration numbers continue, expect significant supply shortages by Q3 next year.

[Xelebes]

Originally Posted by CMD UW

Keep your eye on supply. That's really it. So far YEG has been able to keep supply up with demand (although I expect conditions to continue to tighten up over the next 12-24 months).

Since housing is primarily supplied by private enterprise it HAS to be profitable. Unless we want to 'centralize' supply delivery through the government, investors (whether speculative or not) will need to sell housing for a profit. And I really don't care what one's own opinion is of the matter, this is the way it is in the free market economy.

It is a concern insofar as there is a lack of public housing being built. That was a decision made in the 80s to severely cut back on it and that has ultimately led to a lot of squeeze going on since then. More public housing would probably stimulate some virtuous cycles in this regard. I don't see us getting above 7,000 houses per million people without it. We maxed out at 9,000 houses per million in 1959 with the building of social housing to get us above that threshold. (National numbers here.)

[CMD UW]

Originally Posted by feepa

There's making a profit, and then there is gouging. And there is a lot of the latter happening in the rest of the country.

Define gouging? The market price is based on what the market is willing to pay for a particular product. Sorry but that's the free market economy working.

[feepa]

Originally Posted by CMD UW

Define gouging? The market price is based on what the market is willing to pay for a particular product. Sorry but that's the free market economy working.

The housing market is no longer a housing market, its an investment device, that is stripping regular Canadians of opportunities to have an affordable place to live.

[Coldrsx]

Reference ID: Job No 515290753-002
Description: Demolition
Location: 10008 - 109 STREET NW
Plan 0821851 Blk 9 Lot 58A
Applicant: PROCURA REAL ESTATE SERVICES LIMITED
Status: Intake Review
Create Date: 2024-06-06T13:14:30Z
Neighbourhood: DOWNTOWN

[EdmTrekker]

Originally Posted by Coldrsx

Reference ID: Job No 515290753-002
Description: Demolition
Location: 10008 - 109 STREET NW
Plan 0821851 Blk 9 Lot 58A
Applicant: PROCURA REAL ESTATE SERVICES LIMITED
Status: Intake Review
Create Date: 2024-06-06T13:14:30Z
Neighbourhood: DOWNTOWN

Parking lot? Must be cheaper taxes than on an empty building? Yes of course development on the site would be great - but without demolition of the building to the North this demolition is a bit of a shell game.

[Coldrsx]

50s/60s building on the corner. Assuming they are retaining the parking lot for multiple adjacent sites.


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One12 is done and looks great.

ITC Construction Group

We are proud to announce we successfully achieved Occupancy at the One12 project! One12 is a 13-story apartment building with 217 rental units located in the Garneau neighborhood of Edmonton, Alberta. We would like to thank the Ownership group North American Development Group ("NADG"​) Group and Highpoint Developments Inc. for giving us the opportunity to be part of this amazing project. Thank you, GEC Architecture, and the Consultant Group for their remarkable design. Most importantly we would like to thank all our involved Trade Partners for contributing to the success of this project.




https://www.linkedin.com/company/itc...1-9ea34e7d020a

[Harrison]

We need 10 more One12s scattered throughout the city please and thank you, perfect form and quality for building urbanism.

[Coldrsx]

Reference ID: Job No 518583895-002
Description: To establish a Comprehensive Sign Design Plan for (Stationland) and to install (8) Freestanding Sign(s) limited to On-premises Advertising and (4) Projecting Sign(s) not in the form of a Roof Sign limited to On-premises Advertising (Stationland)
Location: 10423 - 101 STREET NW
Plan 2321876 Blk A Lot 1
Applicant: BEHRENDS BRONZE INC.
Status: New
Create Date: 2024-07-05T09:53:21Z
Neighbourhood: DOWNTOWN

[Coldrsx]

https://www.linkedin.com/in/alexandr...f0k80MkQ%3D%3D

[Coldrsx]

Damn that is a great price/unit/sale.
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Institutional Property Advisors, a division of Marcus & Millichap brokerage, is pleased to announce
the sale of:
THE VIEW
9922 111 Street NW, Edmonton, Alberta

TRANSACTION SUMMARY
Address: 9922 111 Street NW, Edmonton, AB
Suites: 179
Sale Date: June 2024
Purchase Price: $79,333,333 ($443,203.00 / suite)

[Coldrsx]

Coming soon to Jasper Avenue...

[Coldrsx]

Maclac on SRC
https://edmonton.skyrisecities.com/f....36134/page-12

[s211]

Originally Posted by Coldrsx

Coming soon to Jasper Avenue...

Is this an acquisition of a development site or an existing building? The pictures sure make it look like the latter, what with with the, shall we kindly say downmarket, stove in the kitchen.

[Coldrsx]

It's the tower proposal on the SEC of Jasper/121st.

[Coldrsx]

https://x.com/df_mediaworks/status/1811532318122868853

[s211]

Originally Posted by Coldrsx

It's the tower proposal on the SEC of Jasper/121st.

Since that's the case, they should change the caption over the kitchen picture to say "you won't miss this"?