What do you think of this project?

  • I like it a lot

    Votes: 16 39.0%

  • I like it

    Votes: 21 51.2%

  • I neither like nor dislike it

    Votes: 4 9.8%

  • I dislike it

    Votes: 0 0.0%

  • I dislike it a lot

    Votes: 0 0.0%
  • Total voters
    41
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TagYEG said:
I heard from two sources that this project is going to be fully rental. I guess the developer is buying back units. I didn't believe it when I heard it, but the second source is much more reliable. Hard to believe.
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That sounds accurate. They're holding a big open house and leasing event on the 25th, with crazy incentives: first two months free, $500 gift cards and free parking for the first year, for the first 20 people to show up at the event, and then incentives becoming progressively smaller, but still good for the rest.
 
TagYEG said:
I heard from two sources that this project is going to be fully rental. I guess the developer is buying back units. I didn't believe it when I heard it, but the second source is much more reliable. Hard to believe.
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I'm surprised if they sold (and closed on) most of the units already, why buy them back?
 
Wow, not a lot of new product on the sales market then. You've got Symphony and Ice District with more expensive units still and then everything else is resale with a few newer buildings - Encore, Ultima and the Pearl.

And for any families looking to buy downtown and Oliver, fairly limited options whether new or resale.
 
TAS said:
Wow, not a lot of new product on the sales market then. You've got Symphony and Ice District with more expensive units still and then everything else is resale with a few newer buildings - Encore, Ultima and the Pearl.

And for any families looking to buy downtown and Oliver, fairly limited options whether new or resale.
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Maybe prices will finally be helped out by the fact there is basically no new units for the resale market to compete with. I have a few friends that have seen their values decline from what were already quite reasonable prices they paid years ago.
 
That's wild! If there were non-investors that bought though, are they required to sell back their unit? Never heard of a condo project getting bought back to be as rentals.
IanO said:
I am guessing that many sales were investors, pools of investors and those who cannot now qualify for various reasons.
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Maybe they have a transfer program in place whereby the View becomes rental in favor of the next high-rise becoming condo -- more information is needed.
 
The principles are not keen on condo in Edmonton and are taking things low-rise rental.
 
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