UrbanWarrior
Senior Member
Why do things take so long here?!?
- Thread starter Surrealplaces
- Start date
CalgaryTiger
Senior Member
As opposed to where?
Calgcouver
Active Member
Did this site sell to someone else or does Grosvenor still own this?
I just don't even get excited at Land Use Redesignations for towers or mid-rise anymore because they end up getting built so infrequently. Doesn't seem Grosvenor has interest in building residential here or in Calgary in general, maybe I'm wrong. I also thought i saw this site listed for sale about a year or so ago.
I just don't even get excited at Land Use Redesignations for towers or mid-rise anymore because they end up getting built so infrequently. Doesn't seem Grosvenor has interest in building residential here or in Calgary in general, maybe I'm wrong. I also thought i saw this site listed for sale about a year or so ago.
zzkwilliamcanada
New Member
this one sold to Vesta, a BC developer. here is the their website https://www.vestaproperties.com/
Mountain Man
Senior Member
This timeline would be similar in most any city, development takes a while.
Calgcouver
Active Member
Nice i'm familiar with Vesta. Hoping this goes sooner rather than later, they were cranking out developments in Langley when I was living out there.
Albertasaurus
Active Member
A lot of the big projects going up in other cities have been in the pipeline for years. One reason I think Calgary doesn't have a lot of cranes at the moment is that a few years back the economic situation here wasn't great and developers were giving us the cold shoulder. Anecdotally I hear the approvals timelines in Toronto and Vancouver are way longer than here so a lot of the stuff happening there was planned years ago. Now that we are the fastest growing big city again, i am optimistic you will see a lot of construction happening in the next 2-3 years. We also had a bunch of sizeable towers finish up in the last year or so.
I get it though, I just came back from a visit to Toronto and the amount of towers going up there is mind boggling. There are literally 50+ storey towers going up in Vaughan, meanwhile we have an awful looking 6 storey POS proposed for Centre St and 16 Av which is one of the most important intersections in the city. But we are starting to see some solid proposals that I am optimistic will go ahead in the next year or two, and Yellowstone is U/C and Nest and Sovereign look ready to start any day now.
I’m hopeful on this one given the land use has already been approved. There’s no reason for Vesta to buy this if they were planing to flip it, so my guess is they’re intending to build.