Most asset classes are doing well aside from office at the moment. The other side of the coin is there's been very little rental purpose new builds here over the last few decades, the % of growth within established areas has grown significantly, younger generations are increasingly opting to rent due to unaffordable housing in many large cities. The two sites are ideal - waterfront access and proximity to over 50million square feet of office space. These will likely both be phased with absorption period over 5 plus years. I know some American cities are really economically outperforming Cdn cities but Seattle alone has 20,000 rental units under construction at the moment - unbelievable.
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Originally Posted by Policy Wonk
I just can't see this happening in the next five years, there is zero demand for the office and retail space and way too much condo inventory hitting the market in the core and periphery.
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