Oilers99
Active Member
Correct both from a developer perspective and from a debt perspective. When many criticize our local developers they should know without them, there would be virtually no investment.
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Downtown Real Estate
- Thread starter Daveography
- Start date
Correct both from a developer perspective and from a debt perspective. When many criticize our local developers they should know without them, there would be virtually no investment.
northlands
Senior Member
RE Eric Cormack site: bid deadline extended from November 25th to January 13th.
Took a quick look at the interested bidders list (which doesn't mean they've placed a bid, but simply downloaded the bid package) and there isn't much there notable aside from EDGAR, Rohit and Dub. IMO surprised there hasn't been more interest... not everyday there is an opportunity to own ~4.5 acres of land in the urban centre of a metro area of 1.5m people.
Took a quick look at the interested bidders list (which doesn't mean they've placed a bid, but simply downloaded the bid package) and there isn't much there notable aside from EDGAR, Rohit and Dub. IMO surprised there hasn't been more interest... not everyday there is an opportunity to own ~4.5 acres of land in the urban centre of a metro area of 1.5m people.
occidentalcapital
Senior Member
If any of Edgar, Rohit or Dub get the land that would be good news. Dub might be the least desired due to the likely slow pace of any eventual project on site.
IanO
Superstar
- The average price of a single-family home has fallen nearly $50,000 since peaking in April, hitting $463,000 in October, according to statistics released by the REALTORS® Association of Edmonton. The cheapest single-family homes in central Edmonton now cost an average of about $257,000.
Avenuer
Senior Member
Good, we don't need an overheated housing market here.
Dubas
Active Member
9704 106 St Nw, Edmonton Property Listing: MLS® #E4304587
Unique opportunity. The historical Foote Residence is zoned CB1, offering abundance of flexibility in both commercial or residential use. It’s latest use was the showsuite for the Symphony Tower. With 2.5 levels plus an unfinished basement, it has been updated over time and still offers further...
www.topedmontonrealestate.com
Noticed this today; Symphony Tower is selling the little home they used as a sales office. A pretty unique property.
cmd uw
Active Member
Sensationalized statement. If you want to compare what's happening 'price-wise' as it pertains to housing I suggest the Housing Price Index by Teranet and National Bank. Much better resource imo. When you look at the recent data it is showing that both Edmonton and Calgary are trending up versus most other major markets.
archited
Senior Member
^^^^ You mustn't toy with 'O Negs. venture to destroy all things Edmonton. Of course there are better, more reasoned and sane resources regarding the City but those bring him no joy.
IanO
Superstar
The key is to look at a variety of sources, but you'd expect (most would) that source to be trusted and accurate.
I can tell you that from a Downtown condo market side of things, listings are ~50k lower, if not more for larger units. Many 2 + 2 in buildings from the last 10-15yrs ago are $300k-350k which used to be easily 350-425k.
Our building is seeing ~30-50k reductions from comps of 2-3yrs ago.
Obviously the Downtown condo market has been hit the hardest so a * with some of this.
IanO
Superstar
‒This quarter saw suburban Class A and B vacancy rates return to pre-pandemic numbers, while the downtown submarket experienced a significant spike of 104,000 sq., ft of negative net absorption due to the impact hybrid workplace strategies have made on leasing activity.
69k (3 floors) of sublet coming back to market in Telus House at ATB Place.
www.cbre.ca
69k (3 floors) of sublet coming back to market in Telus House at ATB Place.
Edmonton Office Figures Q3 2022
‒The overall office market witnessed 37,000 sq. ft of negative net absorption in Q3 2022. ‒There was an increase in leasing activity in the suburban submarket with 68,000 sq. ft
www.cbre.ca
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IanO
Superstar
Samuel Dean
(He/Him) • 1st
Senior Vice President, JLL Capital Markets, Alberta
17m • 17 minutes ago
SOLD | Park Square, 16-Storey High-Rise Tower with Unobstructed River Valley Views in Edmonton, AB
(He/Him) • 1st
Senior Vice President, JLL Capital Markets, Alberta
17m • 17 minutes ago
SOLD | Park Square, 16-Storey High-Rise Tower with Unobstructed River Valley Views in Edmonton, AB
IanO
Superstar
^Here is the release and more about the purchaser.
equiton.com
Equiton's Apartment Fund Expands in Alberta - Equiton Inc.
Park Square Apartments has 158 suites, including 5 floors of open-air parking. This property is in a premier location in downtown Edmonton.
equiton.com
KyleBlanchett
Active Member
I have heard a few rumblings that a office building will be retrofitted into residential units in the general downtown area. This is in very early phases so everything is quiet. I can't say which building it is until it has been announced so I will leave that up to you to figure it out.
Good luck on guessing!
Good luck on guessing!
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Avenuer
Senior Member
My guess is this building that has had multiple floors available for many years:
archited
Senior Member
Nah... it's the CN tower.