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Habanero said:
I remember reading something about the Nimmons House getting designated as a heritage site, or am I thinking of something else?
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The plan is typically to lift up the house, move to the corner then surround it with multifamily.Then designate it after.
 
I'm all for exceptional sounds quality over stand out design. This opera house looks like a big box furniture store. I'm not sure how they can achieve exceptional sound quality either. There's not much of a tower.
 
Did they get the scoop on Market Mall? I thought one was going to go into the space on the west side of Market Mall, where the Home Sense used to be? Or, will that be the one where children are allowed?
 
Those prices are not too bad. a young couple working even at Tim Horton's could afford the one bedroom unit.
Atticus said:
Vacancy is low and trending down, but rents remain decently affordable. Rent for a one bedroom apartment for Calgary's CMA is only $1,050 and $1,270 per month for a 2 bedroom.

A little more expensive for the Beltline, but still decent.
Bachelor $896
One Bedroom $1,093
Two bedroom $ 1,396
Three bedroom $1,897
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I think you're right about the prices. My niece and her boyfriend moved into a place in the Beltline a while back. I'm not sure what they pay for rent, but they both work retail downtown, and neither of them drive, so they've probably saved some money. They still have enough money to go to Cuba in the new year so I assume it's reasonably affordable for them.
 
Yes. Between the purpose rental buildings coming on line, and investor condo's being rented out, there is a lot of inventory on the market. My condo building is at least 50% rented, and 50% owner occupied. It was built in the last 8 years so I would imagine other condos completed in the same time frame have a similar rental occupancy.
It has got me wondering what the future of 'owned condos' in the inner city is going to be, and what that is going to do for property values down the road. Unfortunately, I bought at the peak (2007) and my guess is that I would take a 15-20% haircut if I sold it today.
 
JonnyCanuck said:
Yes. Between the purpose rental buildings coming on line, and investor condo's being rented out, there is a lot of inventory on the market. My condo building is at least 50% rented, and 50% owner occupied. It was built in the last 8 years so I would imagine other condos completed in the same time frame have a similar rental occupancy.
It has got me wondering what the future of 'owned condos' in the inner city is going to be, and what that is going to do for property values down the road. Unfortunately, I bought at the peak (2007) and my guess is that I would take a 15-20% haircut if I sold it today.
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Ouch that's rough.

I am curious as the story seems split between the demand: record and sustained population growth in the inner communities, strong demand for rentals, overall growing population and jobs etc. and the supply: very few condos proposed, high inventory for sale, declining/stagnate sale values etc.

One guess to explain this discrepancy is that inner city neighbourhoods remain in demand for a lifestyle and place to live; but the "exchange" value has dramatically weakened for many condo properties. Put another way, it seems like despite record demand for people living in the inner city, the types of housing products residents want are very different than even a few years ago, many happy to rent who might have otherwise owned. The "condo property as an investment" crowd has taken a hit, yet there is still investment, just the institutional kind of big developers and property funds developing all these giant rental properties.
 
Rollerstud98 said:
https://www.msn.com/en-ca/news/cana...or-of-calgarys-old-central-library/ar-BBQMg6z

Not sure if anybody has noticed this or not, U if C taking space in the old central library.
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Was just about to post this same thing. https://evds.ucalgary.ca/news/our-faculty-activating-former-central-library-branch

It’ll serve as a teaching lab and a new event venue - another great step in the right direction in making Calgary’s downtown lively at all hours of the day.
 
Patrick.1980 said:
That's a great use for it. I was hoping it would be an educational institute. BVC keep that area buzzing, even after hours.
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Yeah! Was in Toronto a few weeks ago staying near the U of T campus, having that many students in the core of the city really gives the place life. This is another step for Calgary to getting a bit more of that flavour downtown, whoop whoop.
 
It's a quick train ride away from their downtown campus though. I'd prefer to see this building demolished and something better take it's place, there's lots of space the UofC could sublease for 5 years. I think the corner is prime for some sort of cultural development (permanent post secondary space would be good too). Besides, isn't this building in pretty bad shape?
 
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