What do you think of this project?

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Happens far more often than you might believe and is usually innocuous.
 
I spoke with Langham three weeks ago and inquired about Tower 2; design is actively moving forward, but the Downtown market is such that it will likely be a pushed out a little bit.
 
IanO said:
I spoke with Langham three weeks ago and inquired about Tower 2; design is actively moving forward, but the Downtown market is such that it will likely be a pushed out a little bit.
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Very very interesting comment. Edmonton's downtown market is just so unique compared to other downtown markets its almost baffling.

The rental market in general is on fire right now with buyers holding off buying homes, immigration into Alberta is driving demand for rental property development, rental rates are increasing (good for developers) yet still affordable in Alberta (good for renters), and CMHC funding is very much giving a boost to multi-family developments in Alberta right now. The number of rental towers in Calgary's downtown being proposed because of these reasons is substantial yet Falcon 2 a rental project is being pushed back because of downtown Edmonton's market situation?

I guess what I am saying is that if the downtown Edmonton market cannot ride the current wave of favourable market economics driven by 1. rising yet still affordable rental rates and 2. immigration into Alberta I really dont know what it will take to ever get a further boost to residential downtown. It is almost as perfect storm as you could ask for for downtown from a macro economics standpoint yet I dont know that downtown is seeing the activity it could.

Note, yes there are a number of residential projects that are under construction right now, but I am surprised that the pipeline of projects being proposed isnt higher and projects like Falcon 2 are being pushed back rather than accelerated.
 
archited said:
Here's another prediction -- Edmonton will blossom in 2024, but for every apartment built in the Central Business District there will be 2 built in Oliver.
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What do you think @archited, will there be 25,000 people in Oliver before 2030? There were approx 19,000 in 2014, can't find a more recent statistic
 
archited said:
Here's another prediction -- Edmonton will blossom in 2024, but for every apartment built in the Central Business District there will be 2 built in Oliver.
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For someone who at best challenges and at worst picks at certain posters' predictions and claims, you sure have a lot of unsubstantiated pie in the sky and optimistic statements.

I am still waiting for your adamant claim you staked your reputation on that the Quarters hotel sales trailer will be on site last March to lead the way towards the blossoming you envision.

archited said:
(Hey Psst -- can you keep a secret) Alldritt owns the land north of the Russian Orthodox Cathedral abutting the south side of Jasper Avenue on 96th Street. Here they will be building their "presentation center" for the 80-storey tower; they also own the parking lot south of of the ROC which will provide parking for those checking out the "presentation center". I'll stake my reputation on this happening soon...
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CaptainBL said:
you staked your reputation on that the Quarters hotel sales trailer will be on site last March
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It is what I was told by Alldritt -- and a claim that at the time I believed because I was interested in taking some retail space in their building. If we can't go by what is proposed and what may or may not be true then what is the F'ing point of this website. You call it "pie-in-the-sky" -- well then the whole Skyrise City site is "pie in the sky" because it focuses on "what could be" -- if that isn't good enough for you then I can't help you and you can believe all of the negative crap that is promulgated here from time to time from different sources. I am not Alldritt and so whatever is passed on by them to me is what I report to you and the website -- like it or don't, it is your choice.
 
archited said:
Here's another prediction -- Edmonton will blossom in 2024, but for every apartment built in the Central Business District there will be 2 built in Oliver.
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Looking at the list of current proposals, zoning (current/potential) and economics, I would take that bet.
 
CaptainBL said:
Very very interesting comment. Edmonton's downtown market is just so unique compared to other downtown markets its almost baffling.

The rental market in general is on fire right now with buyers holding off buying homes, immigration into Alberta is driving demand for rental property development, rental rates are increasing (good for developers) yet still affordable in Alberta (good for renters), and CMHC funding is very much giving a boost to multi-family developments in Alberta right now. The number of rental towers in Calgary's downtown being proposed because of these reasons is substantial yet Falcon 2 a rental project is being pushed back because of downtown Edmonton's market situation?

I guess what I am saying is that if the downtown Edmonton market cannot ride the current wave of favourable market economics driven by 1. rising yet still affordable rental rates and 2. immigration into Alberta I really dont know what it will take to ever get a further boost to residential downtown. It is almost as perfect storm as you could ask for for downtown from a macro economics standpoint yet I dont know that downtown is seeing the activity it could.

Note, yes there are a number of residential projects that are under construction right now, but I am surprised that the pipeline of projects being proposed isnt higher and projects like Falcon 2 are being pushed back rather than accelerated.
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Langham likes condos so it is not a surprising comment, if this is true.

Purpose built rental is doing well at the moment, it is just market economics that others will notice that and want a piece of the action for themselves.

Affordability is still good in Edmonton which does change tower economics compared to peer cities.
 
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