^^ According to my engineer friend there's lots of projects being designed right now. I think a lot of developers realized how badly they missed the boat last time.
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Short term pain for long term gain
^^ According to my engineer friend there's lots of projects being designed right now. I think a lot of developers realized how badly they missed the boat last time.
concur
had lunch with a prominent architect a few weeks ago and he mentioned that there is a ton in design...and more coming so that people are ready once the market turns.
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
The office market is holding steady for the most part, but there is still a lot of leasing activity that needs to happen before anything new pops out of the ground again. Take a quick look at whats available in the market right now...about 70k in Bell Tower, a couple floors in ING, couple floors in Intact / Professional, plus a number of other options. It may not look that significant but that is a lot of leasing for the Edmonton market. We shall see over the next couple years as buildings become exposed with lease expiries, there is still the potential for negative absorbtion or no growth. 2009 will be an off year everywhere, but there has been almost zero leasing in the market to date this year.
My personal opinion...the next big need for space will come from the City in some form of push for consolidation and expansion. This is purely my opinion...and doesnt necessarily mean a new tower either.
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
I'm having a bitch of a time getting serious bites on an expected $2M tender i'm about to issue. Very few of the major players are hurting enough to take out of town jobs, just a bunch of the second tier contractors. Hopefully this means the days of guys with no experience buying a couple pieces of iron and calling themselves a contractor are over. Thank god. I've had enough of these guys biting off far more than they can chew.
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Lana. Lana. Lana? LANA! Danger Zone
oh yeah, i'm seeing unit prices down 25-50% from where they were a year ago. Now's the time to build my friends.....and at least from what I see in my office, developers are jumping on it.
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Lana. Lana. Lana? LANA! Danger Zone
PWGSC knows the score. They've been fast tracking a bunch of work to take advantage of the lower costs at the moment. I've also noticed a lot of re-tenders out there.
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Short term pain for long term gain
I've had enough of these guys biting off far more than they can chew.
Lesson for the next boom - surety shouldn't be just for municipal projects. Let's start using the resources around us to prequal and hold contractors to their word! There are lot of contractors out there that get screwed because they do things the right way, and aren't always lowest price. Perhaps utilizing the surety industry a little more on private projects.....
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I used to be indecisive, but now I'm not sure...
When does everybody think Strathearn Heights will start up construction?
i would be 2010
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
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