Edmonton Construction 11 (November 2011)

[CMD UW]

Originally Posted by 240glt

^ the part that I find odd is not that they are making larger, more expensive suites, it's that this is contrary to what you say there is pent up demand for. Regency knows their market I would hope... I just wonder if you guys are correct in what you think there is a market for, or if it's more just "wishing" there was a market for.

If you look at the number of sales (both resale and new) it's mostly smaller suites that are priced between 250-350,000. Most of the buildings that still have units remaining are the larger suites - Icon, Serenity, Quest.

[Coldrsx]

Exactly. The intro/mid market is still very challenged in terms of supply of good product. More than a few people I know cannot find what they are looking for and are forced to settle or look outside of downtown.

[Jasper and one o nin]

neck and neck.... (kind of hard to believe)
Debate poll...
http://www.edmontonjournal.com/news/Poll+Alberta+leaders+debate/6450297/story.html

[240glt]

Originally Posted by Coldrsx

Exactly. The intro/mid market is still very challenged in terms of supply of good product. More than a few people I know cannot find what they are looking for and are forced to settle or look outside of downtown.

Or perhaps it's a case of unrealistic expectations. I would like a house in Strathcona, but it can't be a run down old bungalow and I only want to pay $200k. That sounds pretty unrealistic, doesn't it ?

[Albicaulis]

Originally Posted by Coldrsx

Exactly. The intro/mid market is still very challenged in terms of supply of good product. More than a few people I know cannot find what they are looking for and are forced to settle or look outside of downtown.

My exact experience over the past month. Lived d/t for 3 years and am now moving out (and not particularly thrilled about it) due to the lack of family-friendly intro to mid options.

[Coldrsx]

Originally Posted by 240glt

Or perhaps it's a case of unrealistic expectations. I would like a house in Strathcona, but it can't be a run down old bungalow and I only want to pay $200k. That sounds pretty unrealistic, doesn't it ?

Latest 2 examples:

late 20s guy
-250-300k budget
-ug parking
-concrete
-larger 1 bdrm
-newer
-walkable to CBD
-decent layout

Ends up renting in icon cause very little to chose from

early 30s girl
-300-375 budget
-ug parking
-2bdrm 2 bath
-oliver area or downtown
-storage
-larger dinning area, smaller living

Ends up buying a 1300sqft unit in serenity for more than she wanted to spend.

I could go on about multiple other people I know, many who moved here from tor or cal or van and lament the options for new modern high-rise.

[Coldrsx]

Originally Posted by Albicaulis

My exact experience over the past month. Lived d/t for 3 years and am now moving out (and not particularly thrilled about it) due to the lack of family-friendly intro to mid options.

What are you looking for? how much?

[240glt]

^^ Wow those people sound like they really have it rough

We'll see how some of the projects coming up fare... I suspect that if they can pull them off they will do okay, but I just don't see that pent up demand that you claim is there.. not in this city.

[Coldrsx]

^rough?

How about youngish professionals who have decided to stay in this city and want to have an urban experience but almost gave up given the lack of quality new product? Or how about comments from people who have moved here from Toronto on how '1990' our condo stock is.

Simply put, we have almost no new 'hip' 200-350k stuff for 1st time and young professionals. Many end up buying duplexes or townhomes in the SW or SE because they cannot get what they want downtown. That is a real problem.

Ultima will be a good litmus test yes, but location is going to be its one decision maker by given the greyhound and hotel... even with an arena next door. That said, it sounds like the arena is drawing up good interest for that building.

[Coldrsx]

Nuns forced to close Rosary Hall (104st/100ave)

http://www.edmontonjournal.com/news/Nuns+forced+close+Edmonton+home+mentally/6450250/story.html

Good to hear it might be kept for a similar use.

[Coldrsx]

Speaking of Ultima.... their Sales Centre permit says:

'to operate a P,F,O for 12months from May 1,2012 - April 30, 2013.

[Coldrsx]

Dub's glass mixed use has an approved DP

10345-107st/10621-104ave


(http://i184.photobucket.com/albums/x164/coldrsx/new%20misc/107stawesome.jpg)

Notes of interest:

-podium requirement for 107st side waived
-setback abutting 104ave reduced from 5m to 1.5m

Let's hope for shovels soon on this one.

[SHOFEAR]

vibrancy

[Albicaulis]

Originally Posted by Coldrsx

^rough?

Simply put, we have almost no new 'hip' 200-350k stuff for 1st time and young professionals. Many end up buying duplexes or townhomes in the SW or SE because they cannot get what they want downtown. That is a real problem.

Yup. My price range is 290-320, 3 bedrooms. Probably going with a duplex/townhome in the SE with the hopes to be able to move back into a mature neighbourhood in 5-10 years.

[Coldrsx]

^for that price and 3drms what about a house in inglewood along 124st or queen mary?

[Coldrsx]

Cities and hockey

http://www2.macleans.ca/2012/04/12/for-c...eafs-are-the-most-hated-team-in-the-nhl/

Edmonton = down to earth, growing, boring, undervalued, strong, clean

Calgary = down to earth, growing, strong, fresh, clean

[CMD UW]

Ok Gene, now lets get this puppy up.

[dancinb]

Originally Posted by Coldrsx

Cities and hockey

http://www2.macleans.ca/2012/04/12/for-c...eafs-are-the-most-hated-team-in-the-nhl/

Edmonton = down to earth, growing, boring, undervalued, strong, clean

Calgary = down to earth, growing, strong, fresh, clean

???

Boring:
Calgary = 17%
Edmonton = 18%

Exciting:
Calgary = 15%
Edmonton 19%

[dancinb]

Sorry - you were talking about the cities....not the hockey teams.

[Coldrsx]

Go Hostel (102st/100ave)

Just had word from Gary that they are shutting down.