Edmcowboy11
Senior Member
Well here's hoping.
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When I went by yesterday evening, I saw a fair number of lights on the south facing side.^ depends entirely on the speed of lease-up of the first tower.
Not totally related, but the Switch at Stationlands is also offering 2 months free right now, and they’ve leased up pretty good so far.Got an email from them offering 2 months free rent. Anyone know how full this building is? Do we think they Are they trying to get it filled up asap so they can start construction on the second building ?
As is mercury block, hat at 122, and citizen.Not totally related, but the Switch at Stationlands is also offering 2 months free right now, and they’ve leased up pretty good so far.
There has to be a scramble for tenants as 2 months free rent is a significant incentive that wouldn't be offered if the vacancy rate didn't warrant it. What would that be? $3,000 to $4,000 in these buildings? Doesn't cost that much to hire somebody to move furniture.As is mercury block, hat at 122, and citizen.
I wonder if the demand is softening? Or maybe just end of school year
Yeah, considering the Switch was over 50% leased over a month ago it doesn't seem like they were super desperate for tenants. With the first Parks tower also completed recently, there are certainly options for renters looking for a newer building.Not totally related, but the Switch at Stationlands is also offering 2 months free right now, and they’ve leased up pretty good so far.
Demand is definitely softening with a lot of supply coming on, let alone the annual student thing.As is mercury block, hat at 122, and citizen.
I wonder if the demand is softening? Or maybe just end of school year turnover?
Yes. There has been an exceptional number of new rental units centrally located built these past five years, yet there are only so many in Edmonton who want to live downtown, and moreover, who want to/can afford to pay premium rental pricing in these new builds. Especially when there are lots of other somewhat comparable older units renting for 20-30% cheaper.Could just be a case of a lot of rentals coming into the market at the same time period. Or incentives to fill up spaces since the developers want to go ahead with upcoming new projects. If I remember correctly, Mercury Block did their cheap rental incentives for that exact purpose.
Which building did they buy? I'm curious because a couple people I know also had offers from companies to buy them out of their buildings recentlyHello. I can tell you that because Leston bought my condo building to convert to rentals I am looking for a new condo. I have put offers on three places and have been outbid each time with offers going over asking and according to my real estate agent the condo market is quite healthy right now.