Edmonton Construction 11 (November 2011)

[240glt]

Originally Posted by CMD UW

Ahh, most real estate development/owner/management companies are tied to pension funds or private equity, they aren't 'cash rich'. They get their pound of flesh through management fees.

Are you saying that a building filled with government tenants is not what REITs/Pension Funds want...you're so wrong. Government tenants are highly coveted as they as the least risky and typically sign long term leases.

You've been living in the Edmonton bubble too long

It really depends on the type of portfolio that the fund is trying to build. Government buildings are typically less desirable from an asset point of view. And in this market, having one sole tenant with one long term lease may not be the best play for an investor

It'll be interesting to see what happens when the RFP coms out. There is no way the city is going to pay $40/ Sf for a new building, which is around what the market is looking for for new higher quality construction. If they do, they'll be lynched by taxpayers.

[Coldrsx]

^it will be interesting to see how/what they choose and why. Cost and value will be an interesting decision.

[Coldrsx]

Just attended the most recent 'construction collective' morning breakfast over at WTC/EEDC. Brad Ferguson spoke about competitiveness, risk and gave us an insight as to where their headed as an organization. Very impressive guy I must say and exactly the right person at the right time.

[Xelebes]

Originally Posted by BLACK STAR

Could be a stupid question. But where are u landing lol?

Looks like the runway that is still open at YXD.

[Harrison]

Originally Posted by BLACK STAR

Could be a stupid question. But where are u landing lol?

City Centre is probably the only option, one runway is still in use.

[Coldrsx]

Yup. That guy heads up north a good amount.

[s211]

Originally Posted by 240glt

Option.

Your thinking of that Urbia tower on that lot I think.. the one that had already secured a major law office as a tenant

Yeah.. and you wonder why I'm doubtful about a Katz office tower any time soon. Aspen's got a shot, but remember, they don't actually have any money.. they've got to find the backers for it. And frankly a municipal government tower is not the kind of asset that a lot of REITs or pension funds want (unless they can flip it right after it is tenanted) so getting 3rd party financing may be a little tougher.

In fact, it's quite the opposite. I'm in the industry and can attest to government leases being rock-solid for financing purposes. Funds and lenders like the low lease default risk.

The flipside, though, is having to deal with the government as a tenant. Most Class A landlords now don't want to put up with their B.S., especially the Feds.

[rapid_business]

Originally Posted by Coldrsx

Just attended the most recent 'construction collective' morning breakfast over at WTC/EEDC. Brad Ferguson spoke about competitiveness, risk and gave us an insight as to where their headed as an organization. Very impressive guy I must say and exactly the right person at the right time.

I agree.

[Coldrsx]

Reminder that Green Drinks is tonight, 7pm @ the Common.

I will be there acting as a 'connector' so don't be shy.

More info:

http://www.thelocalgood.ca/green-drinks-edmonton/

Cheers

[Coldrsx]

Superb little article on Edmonton

http://www.lipulse.com/blog/article/edmonton

[CMD UW]

Originally Posted by 240glt

You've been living in the Edmonton bubble too long

It really depends on the type of portfolio that the fund is trying to build. Government buildings are typically less desirable from an asset point of view. And in this market, having one sole tenant with one long term lease may not be the best play for an investor

It'll be interesting to see what happens when the RFP coms out. There is no way the city is going to pay $40/ Sf for a new building, which is around what the market is looking for for new higher quality construction. If they do, they'll be lynched by taxpayers.

HAHAHAHA, yeah right, I'm living in a bubble. Laughable....it really is.

[CMD UW]

Originally Posted by Coldrsx

Reminder that Green Drinks is tonight, 7pm @ the Common.

I will be there acting as a 'connector' so don't be shy.

More info:

http://www.thelocalgood.ca/green-drinks-edmonton/

Cheers

See you there around 6-ish....muah!

[CMD UW]

Originally Posted by rapid_business

I agree.

Concur x2

[GreenSPACE]

These drinks better be 'green'

[GreenSPACE]

A bit cheesy and weird. Edmonton - A City of Ideas:

http://youtu.be/_iMlSr2Q7Xc

[Jasper and one o nin]

Originally Posted by Coldrsx

Superb little article on Edmonton

http://www.lipulse.com/blog/article/edmonton

I love the photo of the AGA that the traffic lights have been photoshopped out. The city should take note.

[Mercucio]

Statscan has released the 2012 population estimates for Census Metropolitan Areas. Estimates are as of July 1, 2012.

CMA 2008 2009 2010 2011 2012
Toronto 5,536,262 / 5,636,790 / 5,740,709 / 5,841,126 / 5,941,488
Montreal 3,764,698 / 3,816,662 / 3,868,768 / 3,917,875 / 3,957,715
Vancouver 2,279,040 / 2,336,179 /2,388,995 / 2,426,200 / 2,463,677
Calgary 1,188,595 1,222,491 / 1,244,207 / 1,268,704 / 1,309,221
Ottawa 1,200,775 / 1,219,765 / 1,238,973 1,255,938 1,273,272
Edmonton 1,128,181/ 1,157,200/ 1,176,291 / 1,196,704 / 1,230,056
Winnipeg 731,838 741,807 752,682 765,770 778,397
Quebec City 738,327 745,741 753,296 760,961 769,639
Hamilton 728,866 734,316 742,636 749,722 756,630
K/W 481,801 486,937 492,595 498,876 505,104
London 484,698 487,933 492,204 496,156 499,998
Halifax 393,048 398,167 404,139 409,662 413,710
St. Catharines 402,972 403,521 404,595 405,216 405,768
Oshawa 354,173 359,266 365,103 370,448 375,639
Victoria 348,445 354,310 359,136 361,685 363,113
Windsor 332,393 331,065 331,641 332,539 333,417
Saskatoon 250,960 258,107 265,140 272,771 284,008
Regina 205,900 210,555 214,760 219,286 226,312
Sherbrooke 192,431 194,905 197,499 200,695 203,454
St. John's 187,712 190,792 194,330 197,524 200,550
Barrie 188,527 190,293 191,965 194,052 196,031
Kelowna 175,026 178,145 181,229 183,627 184,744
Abbotsford 169,043 172,132 174,907 177,064 178,055
Kingston 159,793 161,246 162,715 164,089 165,472
Sudbury 165,165 165,134 164,330 164,196 163,977
Saguenay 151,780 151,590 151,461 151,394 152,646
Trios-Rivieres 144,457 145,462 146,622 147,657 148,302
Moncton 132,973 135,594 138,087 140,686 142,966
Guelph 135,460 137,112 139,164 141,045 142,883
Brantford 137,381 138,275 139,002 139,793 140,507
St. John 126,293 127,381 127,961 128,534 128,873
Thunder Bay 126,447 126,517 126,898 127,049 127,113
Peterborough 121,184 121,357 122,191 122,347 122,439

[Black Star]

That article is Wicked!!

[Black Star]

33,352 Metro increase in ONE year!!!! Crazy!!

[Airboy]

Heard an interesting stat yesterday.

Fort Mac population is about 75000. There are 50 camps in the region with aprox 80000 people at any given time. + There is an estimated 30000 people living in shared or basement suites.

The shared accommodations got me thinking about our own undocumented population.