- Thread starter MichaelS
- Start date
Cowtown
Senior Member
It's too bad the new building is replacing older apartments, but on the plus side it will be a net gain of new units.
zagox
Active Member
It is surprising to me that there are apartments getting torn down given the alternative sites available. A 50 year old building with 10x1bdr apartments on a 50x120' lot should sell for $1.6-$2M in this area, whereas a 50' lot with a couple bungalows will sell for $0.8-$1.2M. At a FAR of 4.0 that increases the cost per buildable sqft by ~$30, which is not insignificant.
It's much the same situation as when those apartment in Mission (along 26th ave) got torn down to make way for The River. Parcels of land on rivers or parks sell very well in Calgary.
It is a shame a couple of multifamily buildings had to go. At least there is an upgrade in # of units. There was a proposal for mission a while back that would have actually decreased the number of units, for less but more expensive units.
It is a shame a couple of multifamily buildings had to go. At least there is an upgrade in # of units. There was a proposal for mission a while back that would have actually decreased the number of units, for less but more expensive units.
Platopos
Active Member
Happily it's not really anything special getting torn down, although I can't say what's being built is a significant upgrade aesthetically either.
Mountain Man
Senior Member
this is pretty meh, no surprise given the designers...
Drilling action
Zoom
Active Member
That was fast.The buildings were still there just before Christmas.
BKha
Active Member
Interesting they using piles and wood slats shoring like Courtyard 33. Is that method making a comeback?
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Urb
Active Member
It's one of the cheapest ways to shore. This is typical in areas with minimal water issues.
BrandedBlue
New Member