[_urbanite]

It’s been shrunk. Augustana is taller.

Not the worst thing in the world

 

[Avenuer]

Tower 1 will be around 98 metres tall, so between Icons I and II in height.

 

[EdmTrekker]

Tower 1 will be around 98 metres tall, so between Icons I and II in height.

 

[EtoV]

Height is overrated anyways.

 

[IanO]

In all honesty this is a much better scale/transition.

 

[Oilers99]

I am hearing that this will be going rental due to the difficulty with presales in the condo market.

 

[IanO]

That's too bad as we will need that product in 2-3 years and have a plethora of this kinda of rental product competing for a fairly small market as it is.

 

[TAS]

Yeah, surprised about all the rental coming onto the market or proposed especially with all the rental incentives I'm seeing out there for downtown area.

 

[Avenuer]

Even with low interest rates people would rather purchase ground-oriented dwellings than high rise condominium apartments it seems. For those that want the apartment lifestyle without purchasing, these new rental towers are meeting that demand.

 

[MacLac]

So 5 years in pre sales and they go rental now? Hmmmm, don’t really believe it. Btw, ground broken yet?

 

[David A]

Yeah, surprised about all the rental coming onto the market or proposed especially with all the rental incentives I'm seeing out there for downtown area.

I am sort of surprised too, but I suppose it is easier to build as rental now and that seems the better market at the moment.

I think in a few years there will be a glut and that decision may not look as good. Perhaps some of the rentals will convert to condos.

 

[_urbanite]

I am sort of surprised too, but I suppose it is easier to build as rental now and that seems the better market at the moment.

I think in a few years there will be a glut and that decision may not look as good. Perhaps some of the rentals will convert to condos.

There's already a glut, lots of empty units in most of these new buildings, which isn't surprising considering the rent prices

 

[IanO]

It's easier to convert rentals into condominiums/strata than the other way around.

 

[occidentalcapital]

The smart money is preparing for the immigration boom post-covid. Rental makes a lot of sense for a tower starting now.

 

[Avenuer]

The smart money is preparing for the immigration boom post-covid. Rental makes a lot of sense for a tower starting now.

100% - immigration over the last 18 months has slowed to a trickle and we haven't seen any of the subsequent population growth into the city as a result. Once the gates open up again, I'm sure multi-family residential demand will go bananas.