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New Legion building update

https://www.flickr.com/photos/rleong101/

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Did anyone else read this article about foreign buyers in Calgary & Montreal in the Globe & Mail today? It's says that despite how taxes have been put in place in Vancouver and Toronto, foreign buyers haven't really taken to secondary real-estate markets (very little in Calgary, almost nothing in Montreal). It outlines some of the factors leading to this and it's fair interesting. One thing I didn't buy though was the "relatively small Asian Communities." Maybe be relative to Toronto and Vancouver, but Calgary has the 3rd highest number of visible minorities overall and Chinese is the most frequently reported visible minority.
 
It's another article that misses the point when it comes to foreign investment in Canadian real estate by concentrating on the end users of condos. The rest of the world including China thinks a lot bigger than that when they come to invest in our real estate. They are a key driving force behind affordability. That doesn't come from buying condos. That comes from developing them and rentals and hotels, etc.
 
Perfect idea for that land. The community seems to be against it, but hopefully the city will approve the change.

I've had it with NIMBYs in this city. The CPC just rejected a request to rezone that lot in Marda Loop (33 ave and 15 st) from single-family residential to mid-rise/mixed-use, even though the planning department recommended the change.
 

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