Calgary Condo Talk

[Jimby]

Originally Posted by Spring2008

Noticed BL's building an on-site sales centre at Orchard. You know what that means, shovels in the ground in 2017!

There was a short article/ad about the Orchard in the National Post yesterday and it said groundbreaking in 18 months so I can see that stretching into 2017!

[Spring2008]

Originally Posted by Jimby

There was a short article/ad about the Orchard in the National Post yesterday and it said groundbreaking in 18 months so I can see that stretching into 2017!

Wow that's pretty ridiculous. How many potential buyers are willing to wait 18 months, plus 2.5-3 years construction time?

Seems like BL takes an extraordinary amount of time to get going. Mark on 10th started construction a couple months after their launch and sold out a few months after that, for example.

[Deepstar]

Originally Posted by Jimby

There was a short article/ad about the Orchard in the National Post yesterday and it said groundbreaking in 18 months so I can see that stretching into 2017!

Yeah, I would be surprised about the timeline. Nice that there is some action on Orchard, and maybe now that 6th and 10th is underway, it might give potential Orchard investors/buyers a confidence boost

[red_179]

Originally Posted by Spring2008

Wow that's pretty ridiculous. How many potential buyers are willing to wait 18 months, plus 2.5-3 years construction time?

Seems like BL takes an extraordinary amount of time to get going. Mark on 10th started construction a couple months after their launch and sold out a few months after that, for example.

In fairness, Mark didn't actually sell out till earlier this year, about 14 months after the sales launch and the situation of a developer starting construction within a few months of the sales launch is really more of an exception, than the general standard. Other than Mark you would be hard pressed to find any other project start construction within a couple months of the sales launch. Plenty of projects (Lido, Verve, Riverhouse, Steps, etc.) have had sales launches and have not broken ground within a year of such launches, so 18 months when sales have not even been launched is really not unusual. Whether BL can be trusted to actually break ground within 18 months is another story...

[Spring2008]

There has def been a batch of projects with delays this cycle, but overall there's still lots of projects that start within 6 months after launch.

I've never heard a developer say 18 months until ground breaking before a launch. But then again, maybe he's just being honest with himself after the 6th and 10th fiasco.

[Chadillaccc]

Speaking of Mark (Qualex)... I really hope we see a similar situation with Park Point. Starting construction several months after launching I mean. I don't know much about Calgary's condo market, but from what I've seen, Mark on Tenth is the best managed condo project of the last three years at least. From its excellent design, excellent price points, starting on schedule, and construction being on schedule, it's just been a great thing to watch. Brad Lamb should be ashamed at how poorly Sixth and Ten has been managed. However, now that it is under way I am very excited to see it come to fruition, as it will give Mark a run for its money for most attractive condo tower in the city.

[Sands]

Originally Posted by Spring2008

There has def been a batch of projects with delays this cycle, but overall there's still lots of projects that start within 6 months after launch.

I've never heard a developer say 18 months until ground breaking before a launch. But then again, maybe he's just being honest with himself after the 6th and 10th fiasco.

I kinda of disagree with you. What I see in the last 2 years, most of projects had ground-breaking about 12 months after sales lauched. for instance, First and Evolation lauched in March 2012. Back then, it said possession time around Fall 2014. Lido is another example, sale lauched Oct/Nov 2013. I dont see them ground-breaking until early next year.

[Chadillaccc]

Originally Posted by Sands

I kinda of disagree with you. What I see in the last 2 years, most of projects had ground-breaking about 12 months after sales lauched. for instance, First and Evolation lauched in March 2012. Back then, it said possession time around Fall 2014. Lido is another example, sale lauched Oct/Nov 2013. I dont see them ground-breaking until early next year.

Evolution could have possessions by fall 2014. They are already halfway up Fuse with cladding and interior work beginning. They could easily have the first move ins by the end of fall, if not in early-mid winter. It won't be delivered that late.

[Jimby]

The EV website says Evolution move-ins in early 2015.

[Chadillaccc]

ohh okay. Still, not that late. Fall ends on December 21, so having it a month late isn't really a big deal.

[Jimby]

Early 2015 probably means June not January!

[Spring2008]

Originally Posted by Sands

I kinda of disagree with you. What I see in the last 2 years, most of projects had ground-breaking about 12 months after sales lauched. for instance, First and Evolation lauched in March 2012. Back then, it said possession time around Fall 2014. Lido is another example, sale lauched Oct/Nov 2013. I dont see them ground-breaking until early next year.

I think some developers are being extra cautious, waiting for 80% sales to break ground, plus some related to permit delays.

I believe projects like Keynote 2, Drake, Calla, Mark, Alura, Avenue, Outlook started fairly quickly after launch.

Guardian 2 really surprised me. Think they launched in March, and they're already 17 floors up. obv they started from podium level, but still, a 320 unit project.

[Sands]

Originally Posted by Spring2008

I think some developers are being extra cautious, waiting for 80% sales to break ground, plus some related to permit delays.

I believe projects like Keynote 2, Drake, Calla, Mark, Alura, Avenue, Outlook started fairly quickly after launch.

Guardian 2 really surprised me. Think they launched in March, and they're already 17 floors up. obv they started from podium level, but still, a 320 unit project.

That is true, except most of these projects are not green field projects which either already done the fundation or are Phase 2 of existing projects.

[MasterG]

Interesting tidbit on the Hillhurst-Sunnyside CA website on the Osteria site. Not sure if we have talked about this yet.

http://hillhurstsunnyside.org/osteria-redevelopment-survey/

"they have recently applied for permission for a larger building: 10 storeys instead of 8 storeys, with a 40% larger floor area. In return, they are proposing to provide a large 280 sq. metre public square at the sidewalk level. This would make the building one of the tallest on 10th Street — 2 storeys taller than the “Julio’s Barrio” high-rise on Memorial Drive and the ‘Pixel” high-rise on 9A Street. On the other hand, the plaza would occupy almost ¼ of the site and be as big as the space in front of the Plaza Theatre." - HSCA

I like how they have toned down the anti-height / anti-density rhetoric they are known for on this one, even if it is still obvious in the subtext.

I would be interested to see how this shakes out, a 10-storey condo with serious pedestrian consideration would be quite a nice addition to the area.

I also have started to see the marketing on the outside of LRT cars for the new development on the Carpenter's site, looks like this one has a bit of momentum to enter into a sales phases fairly quickly.

[Full Mountain]

Originally Posted by Sands

That is true, except most of these projects are not green field projects which either already done the fundation or are Phase 2 of existing projects.

Only 3 of the 7 had foundations complete...Drake, Calla, Mark, and Avenue all are greenfield.

Guardian 2, Keynote 2, and Alura did have a huge advantage with the complete podiums to work from.

[Full Mountain]

Originally Posted by Spring2008

I think some developers are being extra cautious, waiting for 80% sales to break ground, plus some related to permit delays.

I believe projects like Keynote 2, Drake, Calla, Mark, Alura, Avenue, Outlook started fairly quickly after launch.

Guardian 2 really surprised me. Think they launched in March, and they're already 17 floors up. obv they started from podium level, but still, a 320 unit project.

I believe the 80% comes from the financing companies, and I suspect that permits do delay some projects in addition to that.

[geotag277]

Not sure if this has been posted yet but the Orchard seems to have a web site now with a few more details:

http://www.theorchardcalgary.com/

[*Stardust*]

Originally Posted by geotag277

Not sure if this has been posted yet but the Orchard seems to have a web site now with a few more details:

http://www.theorchardcalgary.com/

I wonder if these will be the best floorplans he has ever worked on.


Seriously though, the pictures are gorgeous. I love the street level

[Twoscents]

Originally Posted by *Stardust*

Seriously though, the pictures are gorgeous. I love the street level

Ditto.

I wonder if residents get free apples?

[DizzyEdge]

Originally Posted by Twoscents

Ditto.

I wonder is residents get free apples?

Free swarms of yellowjackets eating them