Blatchford Development | ?m | ?s | City of Edmonton

soupcrate said:
blatchfordedmonton.ca

Get ready for Spring in Blatchford | Blatchford | City of Edmonton

Spring in Blatchford The signs of spring are in the air at Blatchford – the apple trees in the fruit orchard are slowly starting to bud, the Canadian Geese have made their return to our stormwater pond, and residents are busy preparing the community gardens for another successful planting...
blatchfordedmonton.ca blatchfordedmonton.ca

A new (to Blatchford) builder called Crimson Cove will be starting construction of 17 townhomes this year - all of which have been sold already.

Now, I imagine the presales happened mostly before the hikes started (when real estate was going crazy across Canada), but this is still fantastic news. If this kind of momentum keeps up I will feel very confident about the future of this neighborhood.
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It's unusual that they sold 17 units without any advertising or presence at Blatchford. Wonder what they are doing that the other builders aren't who also have show homes on site. Or maybe that's it!

Great news though.
 
soupcrate said:
blatchfordedmonton.ca

Get ready for Spring in Blatchford | Blatchford | City of Edmonton

Spring in Blatchford The signs of spring are in the air at Blatchford – the apple trees in the fruit orchard are slowly starting to bud, the Canadian Geese have made their return to our stormwater pond, and residents are busy preparing the community gardens for another successful planting...
blatchfordedmonton.ca blatchfordedmonton.ca

A new (to Blatchford) builder called Crimson Cove will be starting construction of 17 townhomes this year - all of which have been sold already.

Now, I imagine the presales happened mostly before the hikes started (when real estate was going crazy across Canada), but this is still fantastic news. If this kind of momentum keeps up I will feel very confident about the future of this neighborhood.
Click to expand...

or in light of cost increases, the presales could all be at very little to no margin.
 
Much of what Tim has said here was brought up during the mayoral debates. Over $250M spent for ~40 houses. Blatchford is an abomination from a development perspective. It would break all pro formas and as mentioned has not achieved any form of affordable product. I would go one further than what Tim has said here and carve up the overall neighborhood and sell it to the large scale land developers in Edmonton with many of the architectural guidelines, energy requirements built in and let the free market do what it does.
 
Oilers99 said:
Much of what Tim has said here was brought up during the mayoral debates. Over $250M spent for ~40 houses. Blatchford is an abomination from a development perspective. It would break all pro formas and as mentioned has not achieved any form of affordable product. I would go one further than what Tim has said here and carve up the overall neighborhood and sell it to the large scale land developers in Edmonton with many of the architectural guidelines, energy requirements built in and let the free market do what it does.
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We don't agree on much, but I couldn't agree more, this time.
 
Gronk! said:
I wish people in this city would exercise more patience with Blatchford. SMH!
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I can't tell if you are being sarcastic or not. I'm not sure how much more patience one needs considering the promises and timing that was initially announced.
 
Gronk! said:
I wish people in this city would exercise more patience with Blatchford. SMH!
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I don't expect it to be fully built in 2 years, but the CoE is no developer and having it act as one makes no sense. I agree with @Oilers99: build up conditions in the land concessions, to maintain the guidelines and require that things are developed how it was envisioned, but let the market take care of this.
 
His math is helpful. The originally targets would have us at 2500 homes. Adjusting for slowdowns and challenges should still see us in the 300-800 range. Less than 50 is tough. Yea other neighbourhoods take time, but they’re moving hundreds of units annually still. Blatchford won’t magically do 1500 units a year soon to catch up. And every year blatchford does under 100 homes is another year with hundreds more homes in the suburbs still sprawling.

I would be interested in the math he’s proposing though. From my understanding, land is a small part of housing costs? So if we sell at 50% or market rate, will that even shift prices down by more than 10-30k? 650k townhomes becoming 620 doesn’t solve much.
 
thommyjo said:
His math is helpful. The originally targets would have us at 2500 homes. Adjusting for slowdowns and challenges should still see us in the 300-800 range. Less than 50 is tough. Yea other neighbourhoods take time, but they’re moving hundreds of units annually still. Blatchford won’t magically do 1500 units a year soon to catch up. And every year blatchford does under 100 homes is another year with hundreds more homes in the suburbs still sprawling.

I would be interested in the math he’s proposing though. From my understanding, land is a small part of housing costs? So if we sell at 50% or market rate, will that even shift prices down by more than 10-30k? 650k townhomes becoming 620 doesn’t solve much.
Click to expand...

On horizontal housing, land is ~30% of the cost. I don't believe Cartmell is saying cut the land costs down 50%, but the valuation the COE is placing on the land being infill land is the problem. He is saying categorize it similarly to greenfield pricing which would be approximately $350k-400k/acre based on the fact it is immediately developable and infill. The city probably values it more like a $800k/acre+.
 
Airboy said:
Agree, Look how long Griesbach has taken and its still not done. For Blatchford I thing you are going to see it really start to take off in the next 2 years.
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Village at/à Griesbach is under construction

villageatgriesbach.com villageatgriesbach.com

Griesbach is developed by CLC, a federally owned development company that develops government owned lands. See Currie Barracks in Calgary. I believe Griesbach does 100-200 lots/year, and has been for some time. Blatchford has a LONG way to go to be compared to Griesbach.
 
Oilers99 said:

Village at/à Griesbach is under construction

villageatgriesbach.com villageatgriesbach.com

Griesbach is developed by CLC, a federally owned development company that develops government owned lands. See Currie Barracks in Calgary. I believe Griesbach does 100-200 lots/year, and has been for some time. Blatchford has a LONG way to go to be compared to Griesbach.
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I still believe we will see an uptick in development this year and next. However actual serviced land is not that much right now. could easily be full in 2-3 years. We are going to see large buildings start this year as well.
 
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