Edmonton Real Estate Market

[constance_chlore]

For certain:

13: Eagles’s Century Gardens Phase 2 (under construction)
3: Covenant’s residential component in Millwoods (under costruction)

I thought buildings under construction weren't allowed? But yeah the unit count lines up (for the Covenant, didn't check Century Gardens).

 

[Glenco]

Where does Massey Ferguson fit in with this?

 

[archited]

^ Out in the middle of a farmer's field (double entendre).

 

[bodsbods9090]

2 probably is Bateman Lands, but 21 is probably not the Hat and 24 is probably not St. Anthony based on unit counts. (And I'm glad for that because the renders for the St. Anthony site suuuuck.) Guessing 23 is also not Leston, again based on unit counts.

Is 23 Clifton?

 

[constance_chlore]

Is 23 Clifton?

I had wondered based on the location, and the number of units checks out. I would find it a questionable choice to use this money for a luxury building, though, even if it isn't specifically targeted at affordability.

 

[David A]

Interesting headline, not sure hot to decipher it though….good? Bad?

https://www.costar.com/article/1761599237/edmonton-only-market-to-see-an-increase-in-commercial-property-investment

The headline is positive and the article seems generally positive too. While it mentions our lower property values, I feel this is to suggest probably to out of town investors there is more room for price appreciation here than in other cities and it specifically mentions condos. Many locals are used to this and take it as a given, but some outsiders may look at it differently and see opportunity that no longer exists elsewhere.

 

[Avenuer]

Where does Massey Ferguson fit in with this?

Student Housing Grant

 

[IanO]

 

[IanO]

 

[bodsbods9090]

The Big Smoke feeling the hit...

 

[IanO]

Falling further behind the pack...

 

[kcantor]

Falling further behind the pack...

View attachment 722550

Do you have any historical numbers that show this is falling further behind the pack and not in fact catching up with the pack?

In either case, you also need to balance this with increasing room rates and increasing REVPAR which are both continuing to increase quite nicely thank you and have probably more direct impact on valuations than cap rates alone.

 

[archited]

Falling further behind the pack...

When your mind is set on a specific set of values that feeds your rationale, then you can blithely ignore any and all other numbers.

 

[David A]

Do you have any historical numbers that show this is falling further behind the pack and not in fact catching up with the pack?

In either case, you also need to balance this with increasing room rates and increasing REVPAR which are both continuing to increase quite nicely thank you and have probably more direct impact on valuations than cap rates alone.

Yes and I also find this chart confusing with regards to the assertion about falling behind "the pack". Edmonton actually does not seem that different from several other cities here. The ones that seem diverge more from us are mostly much larger cities (Toronto, Montreal or Vancouver) and possibly a smaller tourist destination like Victoria. I suppose it depends on which group you consider the pack, because there seem to be different ones here.