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David A said:
I do think adding more people and density in West Oliver will help quite a bit, but it is not in itself a magic bullet. It really developed as mainly a residential area with not much commercial. I think that will start to change in the future and help make it more vibrant.

Old Strathcona is a historic area, that sort of character and vibe is hard to replicate with newer buildings. It also is close to the University and draws a lot of people from further south and, an arts crowd and has good nightlife.
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I think 124th will really take off as more of west central sees infill/development. That’s the go to Main Street for the west end. Getting to whyte is much harder.

And agreed, density isn’t a silver bullet. But it’s definitely part of the chicken and egg dance. Oliver exchange, Paul Kane, Manchester square, 102ave bike lanes, 124th grand market, 124th BIA, these have all strengthened the area the last 5 years alone. 5 more years can see significant shifts.

124th is getting more street upgrades. Oliver is getting neighborhood renewal. There’s a half dozen residential projects in the pipeline. New bike lanes/grid to west central will improve access. The west LRT will finish in about 5 years. These will all help immensely.

Add in the potential redo of Oliver Park (pool/rink/playground/dog park). A few more residential projects that’ll surely pop up, hopefully some new retail on 124th and I really think the area starts to rival whyte.
 
The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR). Edmonton saw a 67% yr/yr increase.

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Monthly Housing Starts and Other Construction Data Tables

Download this data to learn more about actual and seasonally adjusted housing starts by geography and dwelling types. tivity.
www.cmhc-schl.gc.ca
 
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Interesting how we are way ahead of Montreal, which is a much larger city, and Ottawa which is a similar size and fairly close to Calgary that is supposedly booming now.

This is how we generally do things here, under the radar and without all the hype and national media attention, but it doesn't mean there is not good news here.
 
Maybe not as good news for the building owners here, but definitely good news for the tenants. I would expect there will be more activity where it is more affordable and more activity will keep it affordable.

Those additional industrial spaces will lead to both more construction jobs initially and more jobs later when the spaces are occupied. So good news for the local economy too.

Interestingly, only two cities including Edmonton, where the net rental growth increased in 2023 from 2022. So I also suspect the high increases in lots of places in 2022 will is not sustainable.
 
IanO said:
Well then... quite the exit strategy and valuation.
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Big vote of non confidence for them to be running away? Or do we see this as a positive if others get in and build better projects? Really doesn’t seem like a great appeal to this area still. And more/better TOD will keep coming with the valley line. This used to be one of the only spots. There’s what, 2-3k units easily possible in this land still?
 
Along with the recently announced Central Tower and Louvre “for sale” signs added last week…..
 
I wonder if the COE will still consider a structured parkade just north of The Louvre?
 
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