dunno
Active Member
I am surprised this isn't mentioned more within the sphere of residential RE discussion downtown here
Probably because this is a male-dominated space.
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I am surprised this isn't mentioned more within the sphere of residential RE discussion downtown here
Very much so unfortunately, this was actually talked about at both SRC Edmonton meet ups lolProbably because this is a male-dominated space.
We actually already have a quite impressive river valley park system, which I think some people who live downtown here use quite a bit. I suppose Calgary has the mountains and hour to an hour and a half away or Nose Hill and Fish Creek parks for people in more suburban areas. Of course we also already have Elk Island National Park nearby, a proposed Provincial Park in the south west potentially happening and a possibly larger National Urban Park somewhere also potentially happening. So, I feel both places offer fairly good options for nature focused lifestyles.Not sure I agree with this. There is plenty of people out there who couldn't care less for these things. In my experience, just as many people care about vibrancy and city life as there are people who care about closeness to nature. What happens is that, in Canada, most these people mostly end up in places that actually do offer these things in higher quality and quantity, such as Toronto or, to some extent, Vancouver.
The case of Edmonton and Calgary boil down to the fact that while none of them will offer and even remotely close urban life experience as bigger places, Calgary does offer the option for the nature-focused lifestyle, while Edmonton doesn't do it nearly as much. Our biggest draw is, as we all said before, that Edmonton offers the basics of a big city for mid-sized city prices an, frankly, if we do not get better at offering a better city life, we'll grind to a halt, eventually, while other places will outpace us in growth, if the affordability ceases to be a factor.
Does anyone have a sense of how Edmonton’s success with secondary suites (garage, basement), suburban density, etc have impact our downtown rentals/condos?Yesterday I ran into a random realtor in my building Downtown who was meeting with the owner for another price reduction. The unit was purchased ~7 years ago for $400k and will be re-listing for $269k. I asked her about what she is seeing in the market these days:
-there is an over supply of condos and significant lack of demand in the Downtown
-very few female buyers for anything Downtown due to safety and that represents 55-60% of the market
-the impacts of interest rate increases have pushed ~20% of buyers completely out of the market and into a holding position, back at parents or into rental product
-the same increases have forced some with secondary 'investment units' to list causing further inventory to land on MLS and a bit of a race to the bottom as many of these units are being priced to sell; undercutting neighbours
-investors are picking and choosing deeply discounted units, but she indicated that the majority of her investment buyers are out of the market and into secondary markets around Edmonton or have moved money south to Calgary
-a lot of people are trying to divest out of all of those 3 storey walk-up condo conversions in CM, QMP, Oliver, WestMount etc. and are facing (surprise!) significant special assessments due to low or no reserve funds
-any single family product in the 350-400k range is selling incredibly well around the city
-many of those buyers are coming out of multi-family product
It was but one perspective, but an interesting unexpected coffee chat and one that reinforced just how much work there is ahead to correct the market and fill those units.
Does anyone have a sense of how Edmonton’s success with secondary suites (garage, basement), suburban density, etc have impact our downtown rentals/condos?
I would imagine in some cities with less secondary options in cheaper burbs, that pushes more people looking for smaller units into the core. Any chance we’ve somewhat hurt ourselves by the success of gentle density in burbs?
Rosenthal and griesbach leading the city for garage suites for example comes to mind.
We actually already have a quite impressive river valley park system, which I think some people who live downtown here use quite a bit. I suppose Calgary has the mountains and hour to an hour and a half away or Nose Hill and Fish Creek parks for people in more suburban areas. Of course we also already have Elk Island National Park nearby, a proposed Provincial Park in the south west potentially happening and a possibly larger National Urban Park somewhere also potentially happening. So, I feel both places offer fairly good options for nature focused lifestyles.
Edmonton and Calgary have been growing for the last decade at fairly similar rates, I believe as both grow they will offer more of a bigger city life style attractive to people not just looking for affordability, although affordability is what is driving some of the growth now and probably will for at least a few more years.
Very simple we just need a direct highway to Nordegg area. From south Edmonton it's about 200km diagonally, so maybe an hour and a half of driving? We're closer to the mountains than we think, it's just that the road network doesn't allow a direct drive. Even better add rail and create our own mountain resort there.Elk Island is nice, the river valley can be fantastic, but having now lived in Alberta's playground for over 2.5 years, the reality is that Calgary is far more attractive if you ski/board, bike, hike, climb etc. and that honestly drives a lot of highly educated, professionals working class people to move and live there. The outdoor lifestyle and accessibility to the Bow Valley for day trips should not be underestimated; let alone the impact and delta for tourism drivers, hotels, conferences and ultimately direct flights. I'm sure we all have similar stories, but I've literally had dozens of friends move from Edmonton to Calgary because of the proximity to the mountains AND greater career advancement opportunities. This continues to drive their real estate market, is why they have 5-10x the number of residential projects u/c in the core and why the delta continues to widen.
The bigger question is how to reposition Edmonton to make it more attractive, drive investment and continue to make central Edmonton an attractive, vibrant and more urban space with destination food/bev, festivals and cultural facilities. It's well-known that Edmonton is a 'blue collar', gov't, suburban node town with a good educational system and cheap housing, but does that make it an attractive place to relocate to? Will housing affordability drive the economy, spur an investment/capital influx and is the location/climate something people can overcome to create roots?
I'm genuinely curious to see where Edmonton 'goes' in the next 2-3 years and whether or not it carves out its own little niche of attractiveness or if it continues to lag and competes with the Regina's, Saskatoon's, Winnipeg's of the world.
Yup, Nordegg is not that far as the crow flies. From Keswick in SW Edmonton it is only 190 km to Coliseum Mountain outside of Nordegg:Very simple we just need a direct highway to Nordegg area. From south Edmonton it's about 200km diagonally, so maybe an hour and a half of driving? We're closer to the mountains than we think, it's just that the road network doesn't allow a direct drive. Even better add rail and create our own mountain resort there.
All things that have been talked about for years, nothing new here folks.Councillor Cartmell chimes in on housing.
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So, where to next? I believe it is time that we tackle this problem head-on by:
-Increasing housing supply citywide and not driving up the cost of shelter through new regulations or policy barriers.
-Proactively attracting new business investment opportunities to grow our prosperity and ultimately strengthen the economic picture for Edmonton and our region.
-Better co-ordinating public- and private-sector infrastructure investments to deliver priority projects on time, budget, and scope.
-Delivering and maintaining core municipal services well, and;
-Showing leadership by focusing on the conversations that matter most to Edmontonians’ daily lives.
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Tim Cartmell: How Edmonton can avert a housing crisis
Edmonton city councillor Tim Cartmell weighs in on how the city can ensure adequate housing supply.edmontonjournal.com
It is unfortunate the distance to Jasper and the more severe restrictions on development vs. Banff. While it is a long drive, Hinton has a lot of potential to be developed as a tourist destination and it is a bit closer to Edmonton. Also other towns along the route need to do more with tourism upgrades to make traveling west from here more interesting. I have driven this route quite a few times and there are a number of nice small communities particularly between here and Edson, so it does not have to be a long boring drive. I think in the focus to get to Jasper a lot in between has been over looked.The Edmonton-Jasper route needs to be upgraded in the short term and long term to help reduce what can be perceived as a 3.5 hour boring drive.
- major tourism upgrades for Wabamun, Seba Beach, Chip Lake, Obed Summit and the Pembina River near Entwistle
- twin the Yellowhead from Highway 40 to the Jasper park gate, the rest of it is up to Parks Canada
- build bypasses for Edson, Hinton and Gainford
- daily express VIA Rail route that is unhindered by freight traffic
- HSR