Edmonton Construction 5

[Auditor]

Originally Posted by sdimedru

With Icon I & II going up (is the second one going ahead for sure?).... will the sales of these units push for more high rise condo's to be built? (if the sales numbers are good that is) A better question might be, will the Icon towers even put a dent in fullfilling a need for these types of buildings?

Just wondering.

Icon I sold the majority of there suites really quick and II is suppose to start selling next month. I can bet the units in II will sell quick and for big bucks- which hopefully gets some other developers thinking.

[Edmonchuck]

Originally Posted by Auditor

Out of curiosity, how many people that post here live in/around Downtown Edmonton?

Oliver...

[Coldrsx]

Originally Posted by sdimedru

With Icon I & II going up (is the second one going ahead for sure?).... will the sales of these units push for more high rise condo's to be built? (if the sales numbers are good that is) A better question might be, will the Icon towers even put a dent in fullfilling a need for these types of buildings?

Just wondering.

projects like ICON will do nothing but SUPPORT the need for more condos in the core and make it more attractive....as will things like the BAY, the YMCA, AAG, etc. etc.

[Coldrsx]

remind you of anything?

[Jasper and one o nin]

Originally Posted by Auditor

Icon I sold the majority of there suites really quick and II is suppose to start selling next month. I can bet the units in II will sell quick and for big bucks- which hopefully gets some other developers thinking.

You think that other developers in Edmonton are completely unaware of the demand? The problem is, right now developing is a big risk. Look at the cambridge, they had a sign up selling units for $90K. that was only a couple of years ago. Now they are at least double. Same with the Soho in Cloverdale. (starting at $150's) That makes it extremely difficult for a developer to market by setting prices then put out for tender. Huge labour shortage means it is hard to forecast when construction will begin, and how much construction will cost when it does. How many holes sat idol before construction started. Its easy to say, in this economy we should be the next Dubai, but the reality is that it is much easier, PROFITABLE and safer to build a stick built apartment. and they can get away with it here..
News flash, most develpers are not in the biz to lose money. They can make lots more dough building cheap and selling high. (did I say that they get away with it here?)
I took an urban design economics course and learned that by adding urban design is value added. IOWs developers can make more money if they invest more into the look and design of the building. Sad fact of the matter is in edmonton, an apartment in a stick built is pretty much on par with one in a concrete building. Maybe that has a lot to do with the housing shortage -
but i guess what im trying to say is , why serve filet mignon when people can pay the same for SPAM

[Coldrsx]

MONTREAL (CP) — Quebec City boutique hotel operator Groupe Germain will build a $110-million hotel, luxury condominium and office complex in downtown Calgary with future plans for hotels in all of Canada’s large cities.
CEO and president Christiane Germain said the project is her family-owned company’s first in Western Canada.
“It’s a project that will contribute to the revitalization of Calgary’s downtown and brings housing to downtown Calgary,” Germain said in a conference call.
“Our goal is to open a boutique hotel Germain in every large Canadian city,” she said.
But Germain said it won’t be done by acquisition and her company will not rush to meet the goal.
The hotel company said Tuesday it will partner with Grenville Properties Ltd. to build the development near the landmark Calgary Tower.
The announcement comes a day after the company said it will open a second hotel in Toronto at Maple Leaf Square, which is still under construction.
Le Germain Calgary will combine a 150-room boutique hotel with an 11-storey office tower, bridged by 42 luxury condominium units with a breezeway beneath.
Construction is slated to begin next March and is expected to be completed in 2009.
Germain stressed the condos are residences and won’t be rented by the hotel. However, residents will be able to enjoy access to a spa and other hotel amenities.
The luxury condos haven’t been priced yet and Germain said they will range in size from about 950 square feet to 3,500 square feet.
Calgary is one of Canada’s fastest-growing cities and home base to most of the country’s oil and gas companies, generating rapid growth in business travel.
Germain said it’s natural for her family’s company to have a presence in Calgary due to its economic vibrance.
She noted the challenge of a labour shortage and high cost of materials in Alberta and said she has some assurances that costs will be kept in line.
Germain also said it’s possible that construction in Calgary in 2007 won’t be as busy as in the last year.
The local labour force will build the complex but a number of Quebec companies will be involved in subcontracting and other aspects of the project.
Germain said her company is also interested in Vancouver but the Calgary project came together first.
The company has no immediate expansion plans for the United States.

[Coldrsx]

"You think that other developers in Edmonton are completely unaware of the demand? The problem is, right now developing is a big risk. "

always has been, always will be

"Look at the cambridge"

oh god please dont use that as an example of how to run a development company...

"they had a sign up selling units for $90K. that was only a couple of years ago. Now they are at least double. Same with the Soho in Cloverdale. (starting at $150's) That makes it extremely difficult for a developer to market by setting prices then put out for tender. Huge labour shortage means it is hard to forecast when construction will begin, and how much construction will cost when it does."

it can be done and is done...do your numbers right, your contingencies, etc.

"How many holes sat idol before construction started."

...all of them

"Its easy to say, in this economy we should be the next Dubai, but the reality is that it is much easier, PROFITABLE and safer to build a stick built apartment. and they can get away with it here..
News flash, most develpers are not in the biz to lose money. They can make lots more dough building cheap and selling high. (did I say that they get away with it here?)
I took an urban design economics course and learned that by adding urban design is value added. IOWs developers can make more money if they invest more into the look and design of the building. Sad fact of the matter is, an apartment in a stick built is pretty much on par with one in a concrete building"

good projects lead to good returns, good sales, good everything....

you hear about ford, GM, losing money.... but porsche with record sales....then what about hyundai you say? Decent quality, good price, good worksmanship now = success.

[rapid_business]

Originally Posted by Coldrsx

MONTREAL (CP) — Quebec City boutique hotel operator Groupe Germain will build a $110-million hotel, luxury condominium and office complex in downtown Calgary with future plans for hotels in all of Canada’s large cities.
CEO and president Christiane Germain said the project is her family-owned company’s first in Western Canada.
“It’s a project that will contribute to the revitalization of Calgary’s downtown and brings housing to downtown Calgary,” Germain said in a conference call.
“Our goal is to open a boutique hotel Germain in every large Canadian city,” she said.
But Germain said it won’t be done by acquisition and her company will not rush to meet the goal.
The hotel company said Tuesday it will partner with Grenville Properties Ltd. to build the development near the landmark Calgary Tower.
The announcement comes a day after the company said it will open a second hotel in Toronto at Maple Leaf Square, which is still under construction.
Le Germain Calgary will combine a 150-room boutique hotel with an 11-storey office tower, bridged by 42 luxury condominium units with a breezeway beneath.
Construction is slated to begin next March and is expected to be completed in 2009.
Germain stressed the condos are residences and won’t be rented by the hotel. However, residents will be able to enjoy access to a spa and other hotel amenities.
The luxury condos haven’t been priced yet and Germain said they will range in size from about 950 square feet to 3,500 square feet.
Calgary is one of Canada’s fastest-growing cities and home base to most of the country’s oil and gas companies, generating rapid growth in business travel.
Germain said it’s natural for her family’s company to have a presence in Calgary due to its economic vibrance.
She noted the challenge of a labour shortage and high cost of materials in Alberta and said she has some assurances that costs will be kept in line.
Germain also said it’s possible that construction in Calgary in 2007 won’t be as busy as in the last year.
The local labour force will build the complex but a number of Quebec companies will be involved in subcontracting and other aspects of the project.
Germain said her company is also interested in Vancouver but the Calgary project came together first.
The company has no immediate expansion plans for the United States.

/\ coming to Edmonton in 2018. anyone going to 1905 tonite? what time?

[Coldrsx]

"/\ coming to Edmonton in 2018. anyone going to 1905 tonite? what time?"

7pm puck drop....table 31.

[murman]

Originally Posted by Coldrsx

“It’s a project that will contribute to the revitalization of Calgary’s downtown and brings housing to downtown Calgary,” Germain said in a conference call.
“Our goal is to open a boutique hotel Germain in every large Canadian city,” she said.
But Germain said it won’t be done by acquisition and her company will not rush to meet the goal.

But if Edmonton Canada's largest small city...

[Hardhatdan]

How many people would invest in a development with no promise of a return, just a "promise" to break even, your only return knowing you put your stamp on the City with something excellent? Answer that honestly and then see where developers are coming from.

[tony0911]

You think that other developers in Edmonton are completely unaware of the demand? The problem is, right now developing is a big risk. Look at the cambridge, they had a sign up selling units for $90K. that was only a couple of years ago. Now they are at least double. Same with the Soho in Cloverdale. (starting at $150's) That makes it extremely difficult for a developer to market by setting prices then put out for tender. Huge labour shortage means it is hard to forecast when construction will begin, and how much construction will cost when it does. How many holes sat idol before construction started. Its easy to say, in this economy we should be the next Dubai, but the reality is that it is much easier, PROFITABLE and safer to build a stick built apartment. and they can get away with it here..
News flash, most develpers are not in the biz to lose money. They can make lots more dough building cheap and selling high. (did I say that they get away with it here?)
I took an urban design economics course and learned that by adding urban design is value added. IOWs developers can make more money if they invest more into the look and design of the building. Sad fact of the matter is in edmonton, an apartment in a stick built is pretty much on par with one in a concrete building. Maybe that has a lot to do with the housing shortage - i dont know


__________________


They don't seem to have a problem in Calgary.

[tony0911]

Look at what cove does in Calgary compared to the shit they build in their home city.....developers just plain and simple aren't interested in our city.

[Coldrsx]

Originally Posted by tony0911

Look at what cove does in Calgary compared to the shit they build in their home city.....developers just plain and simple aren't interested in our city.

oh they are, but not enough of them and not enough pride in their work...

[SHOFEAR]

Originally Posted by Coldrsx

"/\ coming to Edmonton in 2018. anyone going to 1905 tonite? what time?"

7pm puck drop....table 31.

I have to make an appearance at a car club function, but I'll attempt to make it over for the third period.

[Jasper and one o nin]

my example with the cambridge was only wrt the increase in price

[Coldrsx]

Originally Posted by Jasper and one o nin

my example with the cambridge was only wrt the increase in price

better be....hahahah....

prices are dynamic yes, but so is a good developers ability to predict and anticipate them.

bad (good) example - skytower in calgary

[Jasper and one o nin]

Originally Posted by tony0911

They don't seem to have a problem in Calgary.

thats because in calgary they are charging quite a bit more for units in well built buildings . the difference is, labour costs the same but prices are quite a bit different.
again, why serve filet mignon when you can charge the same for spam

[IKAN104]

Originally Posted by Kevin_foster

hmm... not that I care, but if you flip burg's at McD's - how do you afford to go to 1905 so religiously Must be a millionaire in disguise.. hmm.....

Don't believe everything you hear. I'm pretty sure there's no McD's on the 19th floor of Scotia Tower 2.

[Auditor]

Like any other business venture there is always a risk involved. To say the risk in Edmonton is abnormally high is BS. Labour costs must be more expensive in Calgary- would make sense.

Honestly if I had the capital I would be all over an upscale development in downtown Edmonton.