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Seems like things have gone down a bit since the October count. Need a few more towers to get going
Interest rate hikes have slowed things down, but with Calgary's population growth going strong the vacancy rate dropping we should see some more projects starting up. Anyone have a guess on what might start next?
Most people seem to be betting that Gallery will be the next major project to start.
Most people seem to be betting that Gallery will be the next major project to start.
That makes sense, especially if it’s already sold out.
The most logical project to start would be a second tower of any existing 2 tower development, but all of them have the second tower currently under construction. Maybe the second Sunalta tower is another one that couple go ahead?
The one I can't understand is Park Point phase 2, the development permit was approved in May 2022 and they moved pretty quickly to demo the sales centre, get fencing up and a consturction trailer on site by lateJune and then nothing has changed since then.
There are a few that already have a submitted and approved DP, just waiting in pending release mode.
526 4th
1405 4th
Sovereign (not on DMAP, but I believe this one was approved a few years back)
1216 8th (not on DMAP, but I believe this one was also approved a few years back)
It's possible one of those may start up this year.
According to that article, they're saying they only expect the two riverfront parcels to get any action in 2023? I thought that the Q parcels were expected to start this quarter?
The One Properties proposal (east half of Q) was just announced like a month ago. We don’t even know what it’s gonna look like yet. Though I expect we’ll see the design soon and it could go ahead by the end of the year 🤷🏻‍♂️ definitely not this quarter though. Either way, getting Vita and EV606 going will still be huge. More commercial on the riverfront! 🤤