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He ran out of extensions in Edmonton so he returned the deposits. It's not over until a sign with the words, "approved tower development site for sale" goes up.
 
Habanero said:
He cancelled the Edmonton one for sure. I remember seeing something in the news about it. not surprising, as he was having a tough time here in Calgary which has been more open to high rise condo living.
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We have been more open, but I think Edmonton is about o undergo a massive condo boom similar to what we have had over the last 10 years or so.
 
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Why do you say that?

Edmonton's market has been pretty consistent with growth and development. There's always been more proposals than demand.
 
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Mountain Man said:
We have been more open, but I think Edmonton is about o undergo a massive condo boom similar to what we have had over the last 10 years or so.
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I doubt it'll be like it has been in Calgary, or they would have already had it. Edmonton justl doesn't have the interest in downtown highrise apartment living that Calgary does for a few reasons.

1) Calgary has a larger population of people between 18-30 years old.
2) Calgary's SFH prices are quite a bit higher than Edmonton's, whereas apartment condos in the two cities are not that far apart.
3) Calgary has a much, much larger downtown workforce, even in this downturn we are still more than double what Edmonton is.
4) Third and more subjective reason is Calgary's core as a whole is more developed. Many people in Calgary are living in the core for a specific lifestyle, and while Edmonton has some of that, it's not nearly as evolved as Calgary's. Their condo highrise /urban housing developments have been scattered over a large area, whereas Calgary has been concentrated in EV and Beltline.

The Ice district will supply a bit of buzz for downtown Edmonton, but I think it's still is a long ways away from becoming a magnet for new highrise residents. The luxury suites in the Stantec tower and the units in Ice Tower B will bring in some residents, but the district is a light years behind a neighborhood like EV.
 
The buzz and sales from the first tower didn't transfer over to Stantec. It is not selling.
 
The pearl in Edmonton, took years to sell. The JW Marriott - owning on a hotel is a pretty nice sales pitch. Spreads high cost amenities like a pool over more users, and gives you access to otherwise impractical features.

Stantec I Was surprised when it started to grow above the mechanical structure for the office tower.
 
I hope the Ice District draws more people into downtown Edmonton. Having a good city near us doesn't make our city any less good. Competition is a really good thing when it comes to municipal and urban development, complacency is what's bad.
 
The highrise condo market has traditionally been better here in Calgary (not just by the amount of highrise condos, but the also by the amount out of town developers who have built projects here, but not in Edmonton), and now with condo market slow we're seeing that highrise residential action transfer over to rental towers. Mostly due to the first three factors you mentioned.

Cowtown said:
I doubt it'll be like it has been in Calgary, or they would have already had it. Edmonton justl doesn't have the interest in downtown highrise apartment living that Calgary does for a few reasons.

1) Calgary has a larger population of people between 18-30 years old.
2) Calgary's SFH prices are quite a bit higher than Edmonton's, whereas apartment condos in the two cities are not that far apart.
3) Calgary has a much, much larger downtown workforce, even in this downturn we are still more than double what Edmonton is.
4) Third and more subjective reason is Calgary's core as a whole is more developed. Many people in Calgary are living in the core for a specific lifestyle, and while Edmonton has some of that, it's not nearly as evolved as Calgary's. Their condo highrise /urban housing developments have been scattered over a large area, whereas Calgary has been concentrated in EV and Beltline.

The Ice district will supply a bit of buzz for downtown Edmonton, but I think it's still is a long ways away from becoming a magnet for new highrise residents. The luxury suites in the Stantec tower and the units in Ice Tower B will bring in some residents, but the district is a light years behind a neighborhood like EV.
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Downtown Edmonton has good bones and has been consistently improving and adding to those bones for as long as I can remember. The Ice District is just another development. It's has a much larger scale and some may say too large for the size of the market. A dozen, quality, sub 20 floor towers would add more wealth by making a bigger dent on all the underutilized spaces around downtown.
 
maestro said:
Downtown Edmonton has good bones and has been consistently improving and adding to those bones for as long as I can remember. The Ice District is just another development. It's has a much larger scale and some may say too large for the size of the market. A dozen, quality, sub 20 floor towers would add more wealth by making a bigger dent on all the underutilized spaces around downtown.
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A similar story for all of Canada's larger cities. I was in Toronto and Winnipeg a while back after a long absence and was amazed by the changes over the last 15 years. I think Calgary has progressed quicker than Edmonton, but both cities have done very well in the last dozen or so years.

UrbanWarrior said:
I hope the Ice District draws more people into downtown Edmonton. Having a good city near us doesn't make our city any less good. Competition is a really good thing when it comes to municipal and urban development, complacency is what's bad.
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Agreed. It's not a zero sum game, no reason both can't do well..even if Calgary is still doing better ;)
 
Cowtown said:
I doubt it'll be like it has been in Calgary, or they would have already had it. Edmonton justl doesn't have the interest in downtown highrise apartment living that Calgary does for a few reasons.

1) Calgary has a larger population of people between 18-30 years old.
2) Calgary's SFH prices are quite a bit higher than Edmonton's, whereas apartment condos in the two cities are not that far apart.
3) Calgary has a much, much larger downtown workforce, even in this downturn we are still more than double what Edmonton is.
4) Third and more subjective reason is Calgary's core as a whole is more developed. Many people in Calgary are living in the core for a specific lifestyle, and while Edmonton has some of that, it's not nearly as evolved as Calgary's. Their condo highrise /urban housing developments have been scattered over a large area, whereas Calgary has been concentrated in EV and Beltline.
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I'm usually the first guy to say that highrises don't equate to urban vibrancy, but I will say that adding about 40 residential highrises to Calgary's core (DT, EV and Beltline) in the last 15 years had done wonders.
 
They are pushing, pushing, pushing this narrative up in Edmonton that the sweetheart deal given to Katz was well worth it as the downtown is now seeing development after years of stagnation and the taxpaying public are believing it. Everytime I've gone to Edmonton there are always several new and improved things. There's plenty of empty lots to fill from previous generations' blockbusting but, you don't see the abandonment in depressed, stagnating areas such as the rust belt.
 
Edmonton is a government town. I haven't spent enough time in Edmonton to say that it applies to them. Every government town I've been to was more traditional marry early, buy a house, 2.5 kids, picket fence, etc. Good pay and job security is a must and government is the only place to get that nowadays. Otherwise, I have no explanation.

Edmonton definitely owes a lot of the residential high rises to UofA.
 
Really interesting article here about a shipping container house construction company popping up in Edmonton only a year ago, with the modules even being manufactured in the Edmonton area. Checked their company site and they have now completed projects in Alberta, BC, Washington, and California.

Boom box: Shipping container homes having a moment in Edmonton
 
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