[thommyjo]

When the Parks had their street party in early fall a rep told me the connector would be last and after the 2 towers, for what it's worth.

Oh interesting. I hope they consider doing it all together. Have to imagine the construction being spread out over 5-6 years vs 3 would be a hit to leasing?

 

[degrandprix]

Also, the connector is where the big outdoor common space will be for both towers, I would think they'd want to get that built asap.

 

[MacLac]

“……but the developer won’t be moving onto the next phase of the development for at least another year." "We'll finish this phase and go through a lease up period for a number of MONTHS," Mr.Blais says. "Then we'll evaluate and determine how we proceed with the next phases."

Alberta’s booming rental market braces for change

The province has seen more than 30,000 purpose-built rental units break ground between the first quarter of 2022 and the third quarter of 2024

www.theglobeandmail.com

 

[Kosy123]

Hey, that's better than "at least two years". Fascinating to hear that the Shift has been officially downsized but that construction is set to begin next year.

 

[MacLac]

Hey, that's better than "at least two years". Fascinating to hear that the Shift has been officially downsized but that construction is set to begin next year.

Exaclty! We'll take a year wait - as I'm sure that would be common with any double tower project. Wait what?! Shift is set to begin next year?

 

[Kosy123]

Exaclty! We'll take a year wait - as I'm sure that would common with any double tower project. Wait what?! Shift is set to begin next year?

Beyond Local: Alberta’s booming rental market braces for change

Read the full story and comment on LakelandToday.ca

www.lakelandtoday.ca

Had to use Lakeland Today to avoid the paywall but

Next year, Mr. Edgar plans to begin construction on a purpose-built rental project located three blocks west from Maclab’s The Parks, in downtown Edmonton. Capitalizing on the City of Edmonton’s investment to revitalize Warehouse Park, Autograph Group’s proposed 300-unit building would cater to the higher end of the rental market.

“We’re looking at CMHC’s MLI Select program,” Mr. Edgar says. “That program is really propping up the purpose-built rental business. It’s very challenging to make the economics work on these apartment buildings without utilizing CMHC financing right now, just due to the costs and the revenue model.”

Mr. Edgar’s vision, however, is significantly different to the initial plan for the site, which included two high-rise towers and 780 rental units. “We just feel that [300 units] is a more appropriate level of density to build on the site,” he says. “With the demand we’re forecasting, we feel really optimistic about the success of a building of that size.”

 

[MattPT]

Beyond Local: Alberta’s booming rental market braces for change

Read the full story and comment on LakelandToday.ca

www.lakelandtoday.ca

Had to use Lakeland Today to avoid the paywall but

Isn’t Edgar’s site 2 blocks east… not 3 blocks west?

 

[Gronk!]

 

[Greenspace]

 

[air_ic]

I hope there’s some sort of lighting on the crown on this building, especially those vertical strips on the top.

 

[Canadian 001]

Wow that cladding is going up fast now

 

[IanO]