What do you think of this project?

  • I dislike it

    Votes: 0 0.0%
  • I dislike it a lot

    Votes: 0 0.0%

  • Total voters
    41
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Crane onsite today removing the construction elevator.
 
Hardly.

The appetite for new condos in the core is still lagging; much of this tower 'sold' a few years ago now and during its launch to get a hopeful uplift and likely fairly speculative in nature. It's a good location, good looking building and decent layouts and will over perform, but dont let this fool you or the state of the market.

There is a reason why most new projects are going purpose built rental over condo.
 
Also the only new project selling units under 450k. Pay big for legends and sky, view for budget. Encore in the middle. Outside of that, just resale.

I also wonder if the couple dozen falcon buyers moved deposits over once that changed. I think we need to see multiple towers selling 70%+ to say tides have turned.
 
COVID and the oil price collapse did hit Alberta and Edmonton hard. While the effects are still lingering, I think it would be a mistake to focus on the past too much, especially unusual or one time events, to forecast the future.

It might not be evident to everyone yet, but I think a strong recovery will be happening.
 
Edmonton could be headed toward housing supply shortage, real estate industry leaders warn

Based on this article, we should see a rebound in the condo market. Not all immigrants will be in a position to buy SFH's, so at some point new condo demand will increase, especially if new SFH prices continue to climb like they have. Out of province buyers will be priced out of that market too at some point

I predict in the later half of 2023 we will see at least some smaller scale developments get announced.
 
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^there is momentum building and stars aligning, but the central condo market (although improving) is still lagging.
Let's mark this as the point in time when "the shift" begins -- not quite there yet, still lagging -- but definitely moving in the direction of "when the shift hits the fan"!
 

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