[Avenuer]

I'm currently about to kickstart my process to search for a home to buy. I've pinpointed the realtor and mortgage broker I'll be dealing with and while we haven't begun actual showing (yet) based on my own observations and that of my realtors, it's definitely a sellers market out there and things are hot.

Thankfully it looks like there will be some decent options in my price range, but man, I won't be surprised in another year or two I would be completely priced out. I'm starting to feel as though the spillover effect from Calgary is seeping into here now.

Where and what are you looking for specifically?

 

[occidentalcapital]

I'm currently about to kickstart my process to search for a home to buy. I've pinpointed the realtor and mortgage broker I'll be dealing with and while we haven't begun actual showing (yet) based on my own observations and that of my realtors, it's definitely a sellers market out there and things are hot.

Thankfully it looks like there will be some decent options in my price range, but man, I won't be surprised in another year or two I would be completely priced out. I'm starting to feel as though the spillover effect from Calgary is seeping into here now.

Will be interesting to see if Edmonton can maintain its affordability. Last year with 60,000 new Edmontonians and somehow we're still quite affordable and numerous condos still available for under $100k.

Maybe we just have the capacity to grow faster than we think.

 

[Munanyo]

Where and what are you looking for specifically?

Townhome/duplex/older single family in the price range of $385,000-$415,000. Ideally Southside, but will look in the west end and north side. New build costs have gone up considerably so not going down that route after doing some extensive research.

Will be interesting to see if Edmonton can maintain its affordability. Last year with 60,000 new Edmontonians and somehow we're still quite affordable and numerous condos still available for under $100k.

Maybe we just have the capacity to grow faster than we think.

Yeah it's actually impressive that Edmonton is still affordable considering how many people moved here just last year alone. However, there were A LOT of empty units and older condos that people were struggling to sell/rent out for years so now that those are slowly getting gobbled up its beginning to put pressure on our inventory.

 

[Barnaby]

With all this demand, why isn't the city encouraging density in the core by making the property tax more fair. Base it on density instead of unit value. Vancouver's rate is under 0.3%, but if you buy a DT condo in Edmonton you're penalized, and forced to pay over 3X this. It does not make sense to continue this at all.

 

[CaptainBL]

With all this demand, why isn't the city encouraging density in the core by making the property tax more fair. Base it on density instead of unit value. Vancouver's rate is under 0.3%, but if you buy a DT condo in Edmonton you're penalized, and forced to pay over 3X this. It does not make sense to continue this at all.

Because quite frankly no one at the top has demonstrated they know how to do anything at all that benefits downtown and Edmonton. This city is run by a group of individuals who are unoriginal and uninterested in solutions.

City council just voted against a potential solution of incentivizing residential development downtown on the basis of "not being able to justify it to tax payers" according to Sohi despite overwhelming evidence that it would spur tax revenue downtown (both Winnipeg and Calgary have recently implemented this approach as well), but then turned around a week later and announced an additional up to $65M expenditure for lights in bike lanes that spur $0 of revenue for tax payers.

Downtown Growth has Stalled — and Tensions are Mounting | Urban Affairs

Developers are frustrated by council’s rejection of a plan to subsidize residential builds in the core

urbanaffairs.ca

Downtown Advocates Aren’t Hiding Their Frustrations With City Hall | Urban Affairs

Even a debate about downtown cleanliness is tinged with mistrust

urbanaffairs.ca

 

[TAS]

Because quite frankly no one at the top has demonstrated they know how to do anything at all that benefits downtown and Edmonton. This city is run by a group of individuals who are unoriginal and uninterested in solutions.

City council just voted against a potential solution of incentivizing residential development downtown on the basis of "not being able to justify it to tax payers" according to Sohi despite overwhelming evidence that it would spur tax revenue downtown (both Winnipeg and Calgary have recently implemented this approach as well), but then turned around a week later and announced an additional up to $65M expenditure for lights in bike lanes that spur $0 of revenue for tax payers.

Downtown Growth has Stalled — and Tensions are Mounting | Urban Affairs

Developers are frustrated by council’s rejection of a plan to subsidize residential builds in the core

urbanaffairs.ca

Downtown Advocates Aren’t Hiding Their Frustrations With City Hall | Urban Affairs

Even a debate about downtown cleanliness is tinged with mistrust

urbanaffairs.ca

There wasn't an announcement for up to $65 million for lights or even 65 cents - unless I missed something.

I do know Coun. Rutherford had previously made an inquiry about cost of lighting many of Edmonton's multi-use paths due to safety and a cost was provided last week along with possible sources of funding 'if' council wanted to proceed. There was no motion to spend money right now for this.

 

[CaptainBL]

There wasn't an announcement for up to $65 million for lights or even 65 cents - unless I missed something.

I do know Coun. Rutherford had previously made an inquiry about cost of lighting many of Edmonton's multi-use paths due to safety and a cost was provided last week along with possible sources of funding 'if' council wanted to proceed. There was no motion to spend money right now for this.

While not an announcement per se, this past Tuesday admin published a recommendation to spend up to $65M on bike lane lighting

https://pub-edmonton.escribemeetings.com/FileStream.ashx?DocumentId=218508

My point still being, the people at the top arent willing or do not know what needs to be done with respect to providing solutions to downtown and our financial situation but will turn around and find more ways to spend money when we are absolutely not in a position to.

 

[tkoe_]

With all this demand, why isn't the city encouraging density in the core by making the property tax more fair. Base it on density instead of unit value. Vancouver's rate is under 0.3%, but if you buy a DT condo in Edmonton you're penalized, and forced to pay over 3X this. It does not make sense to continue this at all.

I stand to be corrected, but the city does not have the power to do this, as I understand it. The Municipal Government Act requires assessment based on market value. Not saying that is the only way it can be done, but it is what the city is stuck with.

 

[WestEndWebber]

The old Shanks in West Point Centre South has been leased. Does anyone have any intel on what is going in there?

Edit: Iron Nation Fitness has leased the building.

 

[Avenuer]

While not an announcement per se, this past Tuesday admin published a recommendation to spend up to $65M on bike lane lighting

https://pub-edmonton.escribemeetings.com/FileStream.ashx?DocumentId=218508

My point still being, the people at the top arent willing or do not know what needs to be done with respect to providing solutions to downtown and our financial situation but will turn around and find more ways to spend money when we are absolutely not in a position to.

They provided the Downtown Construction Grant in 2021 so you cannot say they are not willing to do anything - that was definitely something help Downtown and we are seeing the results of that grant now with the Parks, Stationlands and Falcon I construction,.

 

[CaptainBL]

They provided the Downtown Construction Grant in 2021 so you cannot say they are not willing to do anything - that was definitely something help Downtown and we are seeing the results of that grant now with the Parks, Stationlands and Falcon I construction,.

Council and Sohi were sworn in October 26, 2021. Policy C625, 2021 Edmonton Economic Recovery Construction Grant Incentive Policy was approved by the previous city council on January 26, 2021 and was obviously in the works well before then. To say that this council and Sohi provided and were responsible for the grant is not accurate.

 

[Avenuer]

Council and Sohi were sworn in October 26, 2021. Policy C625, 2021 Edmonton Economic Recovery Construction Grant Incentive Policy was approved by the previous city council on January 26, 2021 and was obviously in the works well before then. To say that this council and Sohi provided and were responsible for the grant is not accurate.

Fair point, and a majority of that previous Council is not currently sitting so new members should not be taking credit for the grant's success (if they are at all).

 

[northlands]

The old Shanks in West Point Centre South has been leased. Does anyone have any intel on what is going in there?

Edit: Iron Nation Fitness has leased the building.

I'll still never get over Schanks closing maybe two months before I moved right by it in the west end

 

[MacLac]

Hopefully, some new construction news comes out of this conference!