Edmonton Construction 11 (November 2011) - Page 406

Coldrsx · #**8101** Posted **Jul 4, 2013, 2:05 PM**

Dug this old gem out the other day, old North Edge plan as envisioned by the Central McDougall Community League back in 2006.

ScottieA · #**8102** Posted **Jul 4, 2013, 2:20 PM**

Quote:

Originally Posted by 240glt

^ Well then call them if you're so concerned about it. But I'll tell you one thing, they don't set rental rates on apartments that are 3+ years away from being occupied, and there is no sign that Procura is moving forward with that tower in the immediate future, and if they do, it'll likely be to build & sell it. So I would summize that those ads for apartments are for existing suites, and the little blurb about the new tower is just advertizing fluff.. 'cause developers & advertizers never stretch the truth, do they ?

Via DanRC on C2E:

CMD UW · #**8103** Posted **Jul 4, 2013, 3:06 PM**

Quote:

Originally Posted by Coldrsx

I can say without a doubt that the guys behind this development are sincere, genuine and wanting to build a fantastic development that they can be proud of, the community will benefit from and enjoy and that will be a model for future TOD projects.

The owner of the current site is part of this group and his family has been exceptionally proud of how they have maintained and run the current housing on the site.

I wholeheartedly agree. Very, very nice people.

240glt · #**8104** Posted **Jul 4, 2013, 4:43 PM**

Quote:

Originally Posted by ScottieA

Via DanRC on C2E:

Who'd commit to renting a suite in a building that 2.5-3 years away from being built ? And why would you set a rental rate when you have no idea what the rates are going to be in 3 years ? That's just crazy. I think this is a case of marketing mayhem, not an indication that this tower is actually moving ahead in the near future.

Black Star · #**8105** Posted **Jul 4, 2013, 5:06 PM**

Quote:

Originally Posted by 240glt

Who'd commit to renting a suite in a building that 2.5-3 years away from being built ? And why would you set a rental rate when you have no idea what the rates are going to be in 3 years ? That's just crazy. I think this is a case of marketing mayhem, not an indication that this tower is actually moving ahead in the near future.

Agree......also who would pay $2200-$2750 for a 2 bedroom!!!

Coldrsx · #**8106** Posted **Jul 4, 2013, 5:26 PM**

I know people who pay $1800-2000 for very nice 'executive' 2 bdrms downtown.

Black Star · #**8107** Posted **Jul 4, 2013, 6:00 PM**

I suppose there is a market. Everyone's got different circumstances. I find it a shit load of $$$$ to spend on rent tho.

s211 · #**8108** Posted **Jul 4, 2013, 6:00 PM**

No update on the city RFP? Was the report tabled? In camera perhaps?

Calgarian · #**8109** Posted **Jul 4, 2013, 6:03 PM**

There is a condo here that rents out for (or is at least asking) $13 000/month. Some people just have the resources to spend a lot of money that seems ridiculous to normal people.

240glt · #**8110** Posted **Jul 4, 2013, 6:04 PM**

Our 1200 sf "basic" 2+2 suite would probably go in the $1600/mo. range.. at least that's what we're expecting it in September when we rent it

I could see contract employees working in industry renting out at CP, but the year long lease might be tough

I just don't like that area. I see nothing appealing to CP or the surrounding area.

Apparently we're movin' on up... to the southside... S.O.'s parents are moving into an assisted living condo and we're buying the house in Goldbar. 'Late 60's 3 + 2 rancher on an RF1 lot. Small garage, nice garden. One block from that Sobeys on 50th street & 106 ave, there's also a little coffee shop and some other stuff there. 10 minute bus ride to City Centre on the #1 that passes a half a block down the street. House needs updating but bones are solid. Just get finished with one, and here we go again

Calgarian · #**8111** Posted **Jul 4, 2013, 6:05 PM**

Quote:

Originally Posted by Coldrsx

Edmonton’s office vacancy rate perfectly balanced

BY BILL MAH, EDMONTON JOURNAL JULY 3, 2013 2:38 PM

0

STORYPHOTOS ( 1 )

Edmonton downtown skyline
Photograph by: Bruce Edwards , Bruce Edwards/Edmonton Journal
EDMONTON - Both tenants and landlords have reason to smile at Edmonton’s office market, according to a new report.

The city has an overall office vacancy rate of 8.7 per cent, with downtown at 7.2 per cent and suburbs at 11.3 per cent, according to Avison Young’s second quarter 2013 Edmonton office market report.

Cory Wosnack, a principal with the commercial real estate services firm, said 8.0 per cent is considered a balanced market which benefits both tenants and landlords.

http://www.edmontonjournal.com/business/...html?cid=dlvr.it-twitter-edmontonjournal

I thought the vacancy rate was getting kinda low. What does this mean for Manulife 2 and some of the other proposals out there?

Calgarian · #**8112** Posted **Jul 4, 2013, 6:08 PM**

Quote:

Originally Posted by 240glt

Our 1200 sf "basic" 2+2 suite would probably go in the $1600/mo. range.. at least that's what we're expecting it in September when we rent it

I could see contract employees working in industry renting out at CP, but the year long lease might be tough

I just don't like that area. I see nothing appealing to CP or the surrounding area.

Apparently we're movin' on up... to the southside... S.O.'s parents are moving into an assisted living condo and we're buying the house in Goldbar. 'Late 60's 3 + 2 rancher on an RF1 lot. Small garage, nice garden. One block from that Sobeys on 50th street & 106 ave, there's also a little coffee shop and some other stuff there. 10 minute bus ride to City Centre on the #1 that passes a half a block down the street. House needs updating but bones are solid. Just get finished with one, and here we go again

What is the residential vacancy rate in Edmonton?

Coldrsx · #**8113** Posted **Jul 4, 2013, 6:13 PM**

^ 2% or less

Coldrsx · #**8114** Posted **Jul 4, 2013, 6:14 PM**

Quote:

Originally Posted by s211

No update on the city RFP? Was the report tabled? In camera perhaps?

In camera yes.

Interesting rumours out there.

Daveography · #**8115** Posted **Jul 4, 2013, 6:31 PM**

Quote:

Originally Posted by 240glt

Apparently we're movin' on up... to the southside... S.O.'s parents are moving into an assisted living condo and we're buying the house in Goldbar. 'Late 60's 3 + 2 rancher on an RF1 lot. Small garage, nice garden. One block from that Sobeys on 50th street & 106 ave, there's also a little coffee shop and some other stuff there. 10 minute bus ride to City Centre on the #1 that passes a half a block down the street. House needs updating but bones are solid. Just get finished with one, and here we go again

Pretty close to my hood. I still have a hard time calling this area "southside" when the avenues are 95 or above, though. I call it east side, even despite the looks I get. Great hood, though, awesome parks, access to awesome trails, and that little Sobey's is pretty decent. If you like Vietnamese, there's a great place on 101 Ave. and 79 St. that I highly recommend, too (Pho & Bun).

s211 · #**8116** Posted **Jul 4, 2013, 6:47 PM**

Quote:

Originally Posted by Coldrsx

In camera yes.

Interesting rumours out there.

Don't tease. Dish.

Black Star · #**8117** Posted **Jul 4, 2013, 6:49 PM**

Quote:

Originally Posted by Coldrsx

In camera yes.

Interesting rumours out there.

Oh yeah!?!

240glt · #**8118** Posted **Jul 4, 2013, 6:52 PM**

Quote:

Originally Posted by RTA

Pretty close to my hood. I still have a hard time calling this area "southside" when the avenues are 95 or above, though. I call it east side, even despite the looks I get. Great hood, though, awesome parks, access to awesome trails, and that little Sobey's is pretty decent. If you like Vietnamese, there's a great place on 101 Ave. and 79 St. that I highly recommend, too (Pho & Bun).

Yeah, more east than south for sure. I've spent a bit of time there and have friends who've bought close by.. We've been to Pho & Bun before too.. pretty good I must say. Also within walking/ stumbling distance is Dallas Pizza and the Hilltop pub. So I have all my essential ammenities covered

We'll be two minutes from the Goldbar ravines too so that'll be nice for the dogs. It's definitely a nice neighborhood.

Feel a little bad about leaving Parkdale though... feels like I'm walking away from a puzzle with a bunch of pieces still not in place. But we'll get renters in that one and in the McKay condo so should see some good positive cash flow out of those.... onward and upward

240glt · #**8119** Posted **Jul 4, 2013, 6:58 PM**

I got a funny phone call from a district manager from Staples asking me if it would be okay to put up a temporary sign on the lot at 104ave. They were obviosuly confused because we do not own the property. I directed him to my contact at KG However, he did note that the sign would say something about a closing out sale. Hmmmm.....

oiler-dude · #**8120** Posted **Jul 4, 2013, 7:29 PM**

Quote:

Originally Posted by Calgarian

What is the residential vacancy rate in Edmonton?

Rental market in Edmonton is very tough right now. I'm renting a 650sqft 35 year old apartment (in average shape) near Century Park for $975. With rent going to at least $1,050 next April. There's not a lot out there, and what is out there, is pricey.