[archited]

They are planned for a "next phase" for Qualico; the current phase is a "toe-in-the-water" phase to gage acceptance. Development of the pedestrian link which has now received Council approval should be a catalyst for building out the rest of the Qualico former Rail Yards -- we'll see.

 

[God]

So right now, is it both the 16 and 25 story buildings being built?

 

[archited]

I believe that the current build-out entails the 16-storey tower, the pedestrian link to the existing office tower, an extension of the parkade eastward, and the ped-link to Churchill square. I suspect the 25 storey tower will be built on the heels of the 16 storey tower in rapid succession and then there will be a wait-and-see period before further development.

 

[IanO]

Not sure about 'rapid succession' for my guess is that lease-up will be rather slow given the location and required $/sqft.

 

[occidentalcapital]

Rents are on the move up right now, Qualico could turn out to have good timing on this one, leasing out quicker than we might think. Especially with the international immigration numbers we are seeing.

 

[strata]

^ Still a crystal ball at this point. Vacancy is quite low right now, but will it still be in two years?

Rental rates will go up, but will projects around Oliver absorb a lot of demand given they are ahead with construction and in a more desirable location with the current struggles of the vulnerable population closer to this project?

 

[occidentalcapital]

^ Still a crystal ball at this point. Vacancy is quite low right now, but will it still be in two years?

Rental rates will go up, but will projects around Oliver absorb a lot of demand given they are ahead with construction and in a more desirable location with the current struggles of the vulnerable population closer to this project?

I think even with the Oliver area projects and the new suburb projects we'll see some mild supply constraints just given the immigration numbers. Don't forget that immigration basically paused during covid, we've only had one year of immigration at the new higher level and already vacancy has dropped below 5%. If the new higher immigration levels keep up year after year it's a whole new ballgame. The federal government has been clear they are aiming for 500,000 immigrants annually and going up from there. It's a pretty big change that has gone somewhat unnoticed.

 

[northlands]

Consider as well all the folks moving from HCOL areas in Canada (which at this point is every urban centre not named Calgary on the prairies). Never seen so many Ontario plates here in my life.

 

[David A]

^ Still a crystal ball at this point. Vacancy is quite low right now, but will it still be in two years?

Rental rates will go up, but will projects around Oliver absorb a lot of demand given they are ahead with construction and in a more desirable location with the current struggles of the vulnerable population closer to this project?

With rents so high or increasing quickly elsewhere in most other major cities, I think there are going to be a lot of people coming here in the next few years.

Every location has its own pluses and minuses but I think for someone looking for something nice and new in close proximity to downtown this would be the one.

Oliver is fine too, but it can be a long walk downtown on a cold day, or if you drive then you probably have to pay for parking which adds to the cost.

 

[Glenco]

With rents so high or increasing quickly elsewhere in most other major cities, I think there are going to be a lot of people coming here in the next few years.

Every location has its own pluses and minuses but I think for someone looking for something nice and new in close proximity to downtown this would be the one.

Oliver is fine too, but it can be a long walk downtown on a cold day, or if you drive then you probably have to pay for parking which adds to the cost.

Valley line.

 

[TAS]

Valley line.

And bike lane

 

[retiredfire]

 

[David A]

Valley line.

Yes, I suppose one could sort of walk the Valley line west route from Oliver to downtown now. Hopefully in a few years, you could even take the train.

Maybe it will more on schedule than its evil twin on the east side, but I have become quite cynical when it comes to City of Edmonton construction deadlines.

 

[IanO]

$25,000,000 now becomes $31,000,000.00 for a pedway.

I cannot seem to find the file on the City site that used to share more about cost-sharing and regulations. Can someone point me in the right direction?

I wonder if they should have just provided unlimited Ubers to all building users for 5yrs for say 5,000,000 or explored adding an UG LRT station for 20,000,000? Could have saved some money... .. .

 

[occidentalcapital]

$25,000,000 now becomes $31,000,000.00 for a pedway.

I cannot seem to find the file on the City site that used to share more about cost-sharing and regulations. Can someone point me in the right direction?

I wonder if they should have just provided unlimited Ubers to all building users for 5yrs for say 5,000,000 or explored adding an UG LRT station for 20,000,000? Could have saved some money... .. .

That would be short sighted. In 25 years we will have the critical mass and confidence that we are apparently presently lacking to take this and advertise our own "underground city" a la Montreal.