Edmonton Construction Part 14 (October 2023)

[YegFan]

^ A metro city with more than 1.6 million residents, I am actually surprised how little high quality stock there is in here in Edmonton.

There should be so many of these developments all over the metro area I think.

Yes, lots of people make good money and are willing to enjoy were they choose to live.

[CMD UW]

Originally Posted by YegFan

^ A metro city with more than 1.6 million residents, I am actually surprised how little high quality stock there is in here in Edmonton.

There should be so many of these developments all over the metro area I think.

Yes, lots of people make good money and are willing to enjoy were they choose to live.

Define 'quality stock'...not sure I'm agreeing with your perspective.

[Coldrsx]

Originally Posted by YEG-Urbanist

Beautiful building! It just blows my mind though how people can afford to live in these buildings. I recently saw an ad on Facebook for The Parks and I believe an entry level bachelor, a little over 400 square feet was over $1500.

Many younger folks have parental assistance, but a lot of people these days don't have cars ($300-500/month) and do go out as much as previous gens which means their abode is more of a priority. Not to mention the rather large middle class here which certainly can afford $1500-2200.

That said, the example you give is pricey at $3.75/ft. Most new product will be around $3.00-3.25+ and is the standard here on in across all new central developments that are modern and at or near top of market.

[Coldrsx]

[Coldrsx]

The Hat Old Strathcona from distance.

[Coldrsx]

Century Park






https://www.weareplanworks.ca/project/century-park---master-planning

[Coldrsx]

The OG

https://umanitoba.ca/architecture/sites/architecture/files/2023-02/CP_cip2018_Gellner.pdf

[DKaz]

I like that they've opened up a Main Street with what I'm assuming commercial units fronting it, don't like how much of it they're dedicating to cars. Angle parking AND curb side loading zones? I am cognizant of the fact the commercial tenants will also rely on customers arriving by private vehicle to succeed, but assuming the parking structure is for park & ride, could it not also be used for customers?

I wonder if at other existing park and ride lots if we could build parking structures using proceeds from the sale of land, bring some more density around the LRT stations while retaining enough park and ride capacity.

[Slide]

they release a new iteration every few years. None have topped the original plan and design. The mid-rises from the original plan that were built are still among some of the nicest in the city.

[GenWhy?]

The Louvre building turned out surprisingly nice. The public realm and streetfront interface is great IMO, far from ideal, but pretty damn good for suburbia

[CMD UW]

Originally Posted by Slide

they release a new iteration every few years. None have topped the original plan and design. The mid-rises from the original plan that were built are still among some of the nicest in the city.

This is correct.

[GenWhy?]

I mean... I wouldn't dare live in one of those units at street level, but I was expecting worse.

[Big Jake]

Originally Posted by Coldrsx

Bellamy Hill RedLeaf site (former community garden) for sale.


https://aicrecommercial.com/wp-content/u...of-January-2025-Exclusive-Commercial.pdf

^^Oooooooo....sweet ! 200 meter condo here please !!

[YEG-Urbanist]

Was curious to know if anyone has any insight into Leston Holdings? They really seem to have exploded over the last couple of years. They have been buying up a ton of significant apartment buildings and are also building quite a few as well. They must have received a huge influx of cash from somewhere.

[Coldrsx]

^up and coming and very aggressive with their expansion plans. They are doing some nice updates to building interiors and I suspect that you will see/hear more of them going forward. Nice to see some of our tired residential buildings getting some love.

[TimB09]

Originally Posted by Coldrsx

^up and coming and very aggressive with their expansion plans. They are doing some nice updates to building interiors and I suspect that you will see/hear more of them going forward. Nice to see some of our tired residential buildings getting some love.

Wonder if they plan to sell off some of their purchases to fund future builds?

[Coldrsx]

My gut says revamp, hold, build out a comprehensive portfolio.

There's plenty of capital/money out there for hire.

[CMD UW]

Originally Posted by YEG-Urbanist

Was curious to know if anyone has any insight into Leston Holdings? They really seem to have exploded over the last couple of years. They have been buying up a ton of significant apartment buildings and are also building quite a few as well. They must have received a huge influx of cash from somewhere.

Using 'leverage', which is further assisted by CMHC's MLI Select program.

[Hallsy's Toupee]

I hope Leston sells some of their portfolio to purchase and build on a vacant lot.

Plenty of examples to choose from:
- Tower 101
- Arlington
- Emerald
- Jasper & 123 St
- 100 Ave & 103 St NE
- 101 St & 104 Ave SE

[Coldrsx]

Falcon loading up.