[Kosy123]

https://myemail.constantcontact.com...rmits.html?soid=1127191170163&aid=p1yRf-_5Q4w

We might see this turbocharged if the BoC actually drops rates by 50 bps next week. Hopefully that jolt finally gets some multifamily developments in the core started or sped up, especially downtown.

 

[policyenthusiast]

https://myemail.constantcontact.com...rmits.html?soid=1127191170163&aid=p1yRf-_5Q4w

We might see this turbocharged if the BoC actually drops rates by 50 bps next week. Hopefully that jolt finally gets some multifamily developments in the core started or sped up, especially downtown.

Automated development permits have sped up the P&D office, but multi-family development permits are still taking an average of half a year to get approved. That's before considering the time for admin work, construction, and time on market.

Still, any interest rate drop or reduction in debt servicing expenses is good for (almost) everyone.

 

[policyenthusiast]

From Taproot:

The City of Edmonton is on track to set an all-time record for housing starts and residential building permits, with housing starts up 48% and approved permits up 62% so far in 2024 compared to the same period in 2023. Apartments, row houses, mixed-use houses, secondary suites, and backyard houses make up 68% of Edmonton’s total permitted residential units so far this year, which is about 21% higher than a decade ago. Edmonton accounts for 6% of housing starts in Canada so far this year, while making up just 2.5% of the country’s population.

 

[David A]

https://myemail.constantcontact.com...rmits.html?soid=1127191170163&aid=p1yRf-_5Q4w

We might see this turbocharged if the BoC actually drops rates by 50 bps next week. Hopefully that jolt finally gets some multifamily developments in the core started or sped up, especially downtown.

Sharply rising rates have been put forth a number of times as a major reason for there not being many larger multi family developments in the core, so if that is the case then interest rates coming down should help a lot.

 

[Kosy123]

Sharply rising rates have been put forth a number of times as a major reason for there not being many larger multi family developments in the core, so if that is the case then interest rates coming down should help a lot.

Yup! I remember reading that on here too, and during the downtown housing grant discussions when it got brought up to council as well. Here's hoping because we need new developments to speculate on this forum.

 

[bodsbods9090]

Sharply rising rates have been put forth a number of times as a major reason for there not being many larger multi family developments in the core, so if that is the case then interest rates coming down should help a lot.

 

[TAS]

Between borrowing rates going down (again next week), rents going up and population forecasts looking good, the math now makes good sense and it's time for developers to get off the pot and start proceeding with some signature projects in our dt!

Note: I have no data to make this claim. I just want it to be true.

 

[policyenthusiast]

Between borrowing rates going down (again next week), rents going up and population forecasts looking good, the math now makes good sense and it's time for developers to get off the pot and start proceeding with some signature projects in our dt!

Note: I have no data to make this claim. I just want it to be true.

Note: This chart has not been peer-reviewed.