archited
Senior Member
It would make good sense from the perspective that it abuts the new planned-for urban park to the north of the site. As the song says, "Now is the Hour" --
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Commercial Final | To construct Interior Alteration for a new office - Visio Media, Petwin Tower 12th Floor | Office Buildings (520) | (03) Interior Alterations |
Commercial Final | To construct tenant improvement - 14th floor Royal Bank Building - new fitup for D group occupancy "SHOWBIE" | Office Buildings (520) | (03) Interior Alterations |
Ice District helps 101st Street attract top lease rates
101st Street remains Edmonton’s most expensive office street, holding onto fourth spot on commercial real estate firm JLL’s annual listing of Canada’s most desirable office addresses.
Office space commands average gross rent of $48.89 per square foot despite rising vacancy rates. “The new towers along 101 Street and the growing ICE District continues to attract people seeking a live-work-play lifestyle,” the firm reported.
Calgary’s Stephen Avenue dropped to sixth place with rental rates of $41.21 per square foot as downtown vacancy rates climbed to 25%. The street ranked second in 2014 before oil prices fell. Edmonton was ranked fifth that year.
Canada’s top three streets: Bay Street in Toronto ($77.96 psf), Burrard Street in Vancouver ($66.25 psf), Avenue des Canadiens-de-Montréal in Montreal ($55.38 psf).
“Condo had been beleaguered for quite some time, but over November and December prices have started to creep back up, exceeding the previous year’s figures,” Shearer says.
Shearer points to pockets of strength in the city driving the market, including downtown’s Oliver neighbourhood where a number of condominium sales occurred later in the year.
“That’s likely where that small bump up in average condo prices could be coming from.”
In contrast, the bungalow market has struggled, seeing prices fall by 5.1 per cent to $361,943, year over year for the quarter.
As per this article in the Atlantic (https://www.theatlantic.com/ideas/a...-gone-insane/605005/?utm_source=pocket-newtab), Edmonton should not be too surprised with the withering condominium market -- we could be in NYC's shoes (so to speak) where half the condominiums built in the last five years remain unsold (at least Edmonton didn't overbuild). The rental market remains strong in Edmonton and as new ventures unfold in the Great White North -- the Big E -- I anticipate both the rental market AND the condo market revving up to unseen heights (double entendre). I say this also recognizing that the homeless situation needs to be rectified as well.