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"The building is planned to be demolished by the end of the calendar year, making way for a green space development in 2025, with the land being held in reserve for a future campus expansion opportunity."
www.linkedin.com
Yes, both office space and residential downtown have grown considerably over the years. I feel more negative comments are probably from people who haven't been here long enough to notice the change.“Too often we’re focused on the wrong data point.
If we only look at vacancy stats, we miss the rate of change. Comparing vacancy rates over time incorrectly describes the health of a market. Instead, we should be looking at the “people-rate of change.”
Today, there’s nearly 15 million sq feet of office space occupied in downtown Edmonton. Two decades ago, in what was described as a healthy and tight market, only 12.1 million sq feet were occupied. That means 14,000 more people are occupying downtown office space today.
In terms of residential, 37% more people live downtown, now topping 37,000 people, with many more to come in the months ahead.
Our two major downtown post-secondary schools have grown by 20,000 students since 2004. Impressively, NorQuest College and MacEwan University are continuing to grow steadily and will be teaching over 50,000 students by 2030. And we can’t forget about the many thousands of staff it takes to serve these students. All of whom are coming downtown.
When we look at the data points that matter, you can see that there’s been a lot more growth than most people realize.”
Cory Wosnak via Linkedin
Cory Wosnack on LinkedIn: Too often we’re focused on the wrong data point. If we only look at… | 14 comments
Too often we’re focused on the wrong data point. If we only look at vacancy stats, we miss the rate of change. Comparing vacancy rates over time incorrectly… | 14 comments on LinkedIn
Agreed with all of this. And then also helpful to layer in other data points like overall job growth or residential growth elsewhere in the city.“Too often we’re focused on the wrong data point.
If we only look at vacancy stats, we miss the rate of change. Comparing vacancy rates over time incorrectly describes the health of a market. Instead, we should be looking at the “people-rate of change.”
Today, there’s nearly 15 million sq feet of office space occupied in downtown Edmonton. Two decades ago, in what was described as a healthy and tight market, only 12.1 million sq feet were occupied. That means 14,000 more people are occupying downtown office space today.
In terms of residential, 37% more people live downtown, now topping 37,000 people, with many more to come in the months ahead.
Our two major downtown post-secondary schools have grown by 20,000 students since 2004. Impressively, NorQuest College and MacEwan University are continuing to grow steadily and will be teaching over 50,000 students by 2030. And we can’t forget about the many thousands of staff it takes to serve these students. All of whom are coming downtown.
When we look at the data points that matter, you can see that there’s been a lot more growth than most people realize.”
Cory Wosnak via Linkedin
Cory Wosnack on LinkedIn: Too often we’re focused on the wrong data point. If we only look at… | 14 comments
Too often we’re focused on the wrong data point. If we only look at vacancy stats, we miss the rate of change. Comparing vacancy rates over time incorrectly… | 14 comments on LinkedIn
And to see something significant on 109 for Norquest would be great to see. I just hope that if they plan future development for that and perhaps adjacent sites that it happens sooner than 10 or more years from now.
Yes, if they are going to build something in a year or two, I can understand and it makes sense to tear it down. But if it is going to be 5 or 10 years it would be better to keep and use it in the meantime as it is actually a still a usable building.
