[IanO]

I absolutely hate it when a developer demolishes a building and never develops the vacant lot. That is one of the worst things a developer can do to a city.

They FULLY had plans to move this forward, but had come from Toronto and misjudged the market and didn't due their due diligence. I had a good chat with them last summer and had never seen someone so perplexed with the Edmonton market.

 

[archited]

due their due

This is how you call a country square dance.

 

[TAS]

They FULLY had plans to move this forward, but had come from Toronto and misjudged the market and didn't due their due diligence. I had a good chat with them last summer and had never seen someone so perplexed with the Edmonton market.

Just to understand - how does Cidex make it work with a shorter concrete build a couple blocks away?

 

[David A]

They FULLY had plans to move this forward, but had come from Toronto and misjudged the market and didn't due their due diligence. I had a good chat with them last summer and had never seen someone so perplexed with the Edmonton market.

He is not primarily a real estate investor, but I think Warren Buffett summed it up well when he advised not to buy things you don't understand.

Its unfortunate this site continues to languish while several others have been or are being developed nearby.

 

[cmd uw]

They FULLY had plans to move this forward, but had come from Toronto and misjudged the market and didn't due their due diligence. I had a good chat with them last summer and had never seen someone so perplexed with the Edmonton market.

They should have known this market well enough given that Minto had owned a few buildings in this city for awhile. Not sure what's to be 'perplexed' about, do your f*cking homework. There are plenty of 'outside' companies that have been in Edmonton for awhile that aren't perplexed - CAPREIT, Hazelview, Killiam to name a few off the top of my head.

 

[Clearshades]

The difference between true developers vs rogue developers.

 

[IanO]

Not at all given their significant experience in the GTA and other areas, but a perfect storm of not really understanding the market, opportunity cost (to not do more in the GTA) and a slumping central market.

 

[Gronk!]

I think the site should be sold to Beljan or Hodgson Schilf Evans so that they can build OEX 3 or Mercury Block 3.
Or does that make too much sense?

 

[Clearshades]

Not at all given their significant experience in the GTA and other areas, but a perfect storm of not really understanding the market, opportunity cost (to not do more in the GTA) and a slumping central market.

That is rogue coming into a market without any sense of due diligence.

 

[Clearshades]

I welcome that or even Westrich. For me, I prefer a tower here for it would be a great presence just before the 124 turn.

 

[archited]

And so it is said...

 

[IanO]

That is rogue coming into a market without any sense of due diligence.

Maybe, but Edmonton has been quite the outlier and so many have 'been surprised'.

 

[Edmontonium]

Would they get more now for the land than they paid? Could it be that a demolition of the building on the property increases the price of the lot. And intention would be never to build anything just flip the land... Just speculating

 

[Clearshades]

Maybe, but Edmonton has been quite the outlier and so many have 'been surprised'.

Which is why it would bennifit them more if they partnered up with a ligit local partner who knows the city's streets.

 

[bodsbods9090]

Maybe, but Edmonton has been quite the outlier and so many have 'been surprised'.

Then DO YOUR HOMEWORK!