Edmonton Construction 11 (November 2011)

[Coldrsx]

These guys DO NOT mess around it seems.

[craner]

So E-town,
KR is u/c, things are very good on the highrise condo front, and of course the new arena is well on it's way to becomming reality. My question is what are the predictions for a substantial office tower starting construction in the next couple of months? Or are we going to have to wait till after the civic election in Oct.?
I really hope it's 102 St. Centre. You guys have waited long enough for a new tallest!
Future is bright though I think.

[Coldrsx]

Well, we all know what the office market here is like and how it traditionally absorbs around 150k/yr on average over time.

1. KR ~400k - u/c (most likely)
2. Tower D - ~400k
3. 102st Centre - ~700k
4. Melcor 102st - ~450k
5. Qualico 2 - ~600k
6. Procura 100st - ~400k

There are a few other potentials, but mostly land plays currently. I suspect we will see the top 4 fighting for 2 or 3 potentials.

[Coldrsx]

Heard another person saying that they have heard that the Healy site has been bought by a Toronto group who wants to do 3 rental towers with retail main and that they want to get going ASAP.

[ScottieA]

The location makes sense for a rental tower complex, given its proximity to MacEwan, the new LRT lines, and the arena.

A great vote of confidence in our market in that developers from out of province are now taking an interest in building here, especially rentals (Hendrix and now this).

[TimB09]

Originally Posted by ScottieA

The location makes sense for a rental tower complex, given its proximity to MacEwan, the new LRT lines, and the arena.

A great vote of confidence in our market in that developers from out of province are now taking an interest in building here, especially rentals (Hendrix and now this).

After a friend of mine called around to a bunch of places looking for rentals this past week, rental apartments are needed in this city big time. Seems like we are short in terms of inventory when it comes to that in Edmonton.

[ScottieA]

^ Edmonton has a vacancy rate that is under 2% at the moment (1.2%), with some parts of the city having a 0% vacancy rate. It's a historic low. Yes, we badly need more rental supply to come on stream, and soon.

Source: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2013/2013-06-20-0815.cfm

[Coldrsx]

(http://looplink.edmonton.avisonyoung.com...iginal=False&UseStandardAsOriginal=False)

[Hallsy's Toupee]

Originally Posted by Coldrsx

Heard another person saying that they have heard that the Healy site has been bought by a Toronto group who wants to do 3 rental towers with retail main and that they want to get going ASAP.

Does that include all them parking lots around Boston Pizza on Jasper Ave?

[Coldrsx]

^that is not the Healy lands.

[ScottieA]

Originally Posted by Hallsy's Toupee

Does that include all them parking lots around Boston Pizza on Jasper Ave?

That's the old Healy site, now referred to as the BP lands collectively by people on the forums. He's talking about the sites that Healy occupied up until they moved to Sherwood Park.

[Hallsy's Toupee]

I thought the BP land was still owned by Healy?

[Hallsy's Toupee]

In any case...I think Healy's old showroom building should be transformed into a retail outlet. Say, a hardware store?

http://www.edmontonjournal.com/business/...t+with+Express+outlet/8733217/story.html

[Coldrsx]

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[EdmTrekker]

Originally Posted by Hallsy's Toupee

In any case...I think Healy's old showroom building should be transformed into a retail outlet. Say, a hardware store?

http://www.edmontonjournal.com/business/...t+with+Express+outlet/8733217/story.html

I think that is a great idea. Mini Rona or such - and Cdn Tire Express would also fill the need. Maybe if we are lucky the DECL will facilitate an ask request to Cdn Tire...that would be sweet.

[EdmTrekker]

Originally Posted by TimB09

After a friend of mine called around to a bunch of places looking for rentals this past week, rental apartments are needed in this city big time. Seems like we are short in terms of inventory when it comes to that in Edmonton.

Is there not a future LRT stop right there? On South of the land? That will be very convenient for sure.

[EdmTrekker]

Originally Posted by Coldrsx

(http://looplink.edmonton.avisonyoung.com...iginal=False&UseStandardAsOriginal=False)

No elevator access to the LRT...not great for anyone in wheelchair or other mobility issues. I guess they will have to use the one in RHW. I would like to have the LRT building on RHW removed and have access up stairs and elevator is a smaller scale building to create better views into RHW from Jasper Avenue or better yet closed down and demolished and the site made into "park" area with tables and chairs - as a possible annex to Tres. Make a deal with the lets say the Cambridge Condo complex to the West which already has stairs - add an elevator from street all the way down this would meet the need.

[rapid_business]

^^ one block south.

[Coldrsx]

Apparently '40%' sold and 5th floor units will be available for viewing in 7weeks.

[mintzilla]

^^^ i may be an idiot, but what is that picture of?