[Kosy123]

Edmonton’s luxury homes market showing signs of rebound

Out-of-town buyers are driving luxury home sales in Edmonton, says Sotheby’s International Realty.

edmontonjournal.com

Edmonton funds 276 below-market and near-market 'affordable' rental and bridge housing units

Edmonton councillors agreed Wednesday to put $16.7 million of the city's "affordable housing" grant money toward 276 below-market or near-market rental homes.

edmontonjournal.com

 

[TAS]

Warehouse Park is already funded, it's really looking at whether to delay other projects, which are contemplated to be funded by the CRL but aren't yet approved.

I would hate to see streetscape improvements delayed, those have a large impact especially needed is Japser Avenue. But if you can move the numbers around when Jasper Avenue isn't contemplated to be done for 3-4 years yet or other projects, you maybe can make this incentive work. I'd be okay with Beaverhills/Michael Phair delayed for a few years if Warehouse Park was done right and the incentive got 5-6 projects moving immediately.

We desperately need to incentivize and shift the development of units towards Downtown.

I'm undecided if providing public money per unit for these office conversions is the best way to go - especially to the tune of $100/sq ft as is being contemplated. Is there no discussion to continuing on the tax break program from 2021? Or maybe make that incentive a little sweeter for the next round for new builds given the inflation and interest rate change since then?

If we had that program, maybe Evertrust would have stuck around in Muttart.

 

[IanO]

...and in that is your inherent conundrum.

 

[archited]

Need for corporate rebranding: Evertrust becomes Nevertrust

 

[Glenco]

I'm undecided if providing public money per unit for these office conversions is the best way to go - especially to the tune of $100/sq ft as is being contemplated. Is there no discussion to continuing on the tax break program from 2021? Or maybe make that incentive a little sweeter for the next round for new builds given the inflation and interest rate change since then?

If we had that program, maybe Evertrust would have stuck around in Muttart.

The funding is coming from the downtown CRL therefore this project would not qualify.

 

[Greenspace]

Possible projects that would go ahead with this incentive (Downtown or CRL boundaries)

- The Parks tower 2
- Falcon tower 2
- Phipps McKinnon conversion
- The Shift 2 towers
- Milner Building conversion?

This is already 5-6 major projects/towers that would immediately happen. Also if it would incentives even 1 or 2 suburban developers to come Downtown that would be a win.

 

[TAS]

Possible projects that would go ahead with this incentive (Downtown or CRL boundaries)

- The Parks tower 2
- Falcon tower 2
- Phipps McKinnon conversion
- The Shift 2 towers
- Milner Building conversion?

This is already 5-6 major projects/towers that would immediately happen. Also if it would incentives even 1 or 2 suburban developers to come Downtown that would be a win.

When you say incentive, do you mean the same one in 2021? Was that incentive for new builds only?

 

[TAS]

The funding is coming from the downtown CRL therefore this project would not qualify.

I'm not proposing CRL money be used. Or did the funding for the 2021 tax incentive for residential projects come from the CRL?

 

[thommyjo]

Possible projects that would go ahead with this incentive (Downtown or CRL boundaries)

- The Parks tower 2
- Falcon tower 2
- Phipps McKinnon conversion
- The Shift 2 towers
- Milner Building conversion?

This is already 5-6 major projects/towers that would immediately happen. Also if it would incentives even 1 or 2 suburban developers to come Downtown that would be a win.

The shift and those two phase 2 projects are worth incentivizing quite a bit in my mind. Those 4 towers (5 with Parks middle building), will do a lot for the gaping hole in our DT. Id much rather those than any office conversions.

 

[northlands]

Possible projects that would go ahead with this incentive (Downtown or CRL boundaries)

- The Parks tower 2
- Falcon tower 2
- Phipps McKinnon conversion
- The Shift 2 towers
- Milner Building conversion?

This is already 5-6 major projects/towers that would immediately happen. Also if it would incentives even 1 or 2 suburban developers to come Downtown that would be a win.

PMK would be a real interesting tower conversion. The lobby reno they did a few years back was slick and I hear it's pretty vacant.

 

[David A]

PMK would be interesting, particularly because it is not on a main road and yet it is so close to offices and various other things. I think that would make it quite desirable for residents.

 

[bodsbods9090]

Possible projects that would go ahead with this incentive (Downtown or CRL boundaries)

- The Parks tower 2
- Falcon tower 2
- Phipps McKinnon conversion
- The Shift 2 towers
- Milner Building conversion?

This is already 5-6 major projects/towers that would immediately happen. Also if it would incentives even 1 or 2 suburban developers to come Downtown that would be a win.

Is this your opinion or do you have good intel that says this would push these projects forward? Either way, good to see what COULD happen.

 

[Greenspace]

I have some intel and some projects were discussed at Urban Planning committee.

 

[Avenuer]

I have some intel and some projects were discussed at Urban Planning committee.

Yup, apparently Fillmore Construction has recently purchased the PM Building with the intent to convert it to residential.

 

[archited]

Very interesting to see how this one evolves as a residence -- the floor to ceiling heights will give airy living space. I wonder if any thought has been given (or will be given, considering its youthful transfer) to creating balconies and amenity space. It has to be a big positive for Rice/Howard Way and the Civic Centre precinct. Even so-called "Juliet" balconies could be artfully done here, giving the building an entirely new demeanor. I suspect some kind of "oomph" factor will have to be employed.