A 15-25 storey Alt or Moxy would kill it in this location.
Also.... Montreal has really similar economics when it comes to the rental market, but I've noticed they're able to build concrete high rise. The overall architecture for new products is much better.
Lower incomes here (Montreal), too. I don't think we're getting the full story from developers in Edmonton.
I'm not so sure that Montreal really has similar economics. This is anecdotal, so take it with a grain of salt, but my impression was that rent was cheap
if you lived in an older building, in a non-renovated unit, without a dishwasher/in-unit laundry, and so on. My third-story walkup apartment in Rosemont got extremely hot in the summer and had terrible soundproofing, but I didn't really care because I was paying ~$1000 for a 4 1/2. Montreal's vibrancy benefits a lot from the fact that artists, students, etc. can get by in this huge stock of older, livable but not entirely pleasant housing. We'll see if this situation survives the end of the lease transfer—there's tremendous anxiety about rising cost of living.
I had friends who lived in new builds in Griffintown, and I got the sense that
they were paying a good deal more than people would pay for comparable units in Edmonton. My sense is also that a lot of the newer rowhouses in Rosemont, Villeray, etc. are condo, not apartment, and condos in Montreal are much more expensive than in Edmonton. So for a builder, I think the situation really is quite different between the two cities.