David A
Senior Member
Really? I remember quite clearly getting a pamphlet from the city before it was torn down with this lot marked as city owned, which also seems to be referred to in some of the above discussion.
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Downtown Real Estate
- Thread starter Daveography
- Start date
_urbanite
Senior Member
If that was the case then I stand corrected.
northlands
Senior Member
Per CBRE, highest office vacancy rate since 1994.
IanO
Superstar
When Manulife hits NERs of $-2/sqft again call me.
Gronk!
Senior Member
Downtown commercial vacancy rates continue to rise in Edmonton - Edmonton | Globalnews.ca
A new report shows that Edmonton's downtown commercial vacancy rate is more than 24 per cent, significantly higher than the average than the national average.
globalnews.ca
EdmTrekker
Senior Member
What has happened to the Provincial initiatives in Calgary and Edmonton that were to come up with some plans to revitalize our downtowns?
Kosy123
Active Member
Election’s over lmao.
On a more serious note, I’m not sure we’ll see any provincial initiatives (if any) until around October, when the first session of the legislature happens (Oct 30). Until then, we’re genuinely not going to hear much policy announcements, in my opinion at least.
Munanyo
Active Member
Yeah we're in the middle of the summer, we likely will not be hearing much initiative from the province on anything till the fall. Maybe something from the city, but that's also unlikely.
The focus right now should be on bringing more residents to live in and near downtown, along with making it safer and aesthetically more pleasing. I really wish the city were much more aggressive in trying to attract outside investment and business to set up shop here (that's been one of my biggest peeves about city officials for a long time) but that's a whole other discussion.
The focus right now should be on bringing more residents to live in and near downtown, along with making it safer and aesthetically more pleasing. I really wish the city were much more aggressive in trying to attract outside investment and business to set up shop here (that's been one of my biggest peeves about city officials for a long time) but that's a whole other discussion.
David A
Senior Member
My big peeve too. There are still some opportunities for residential conversion, but IMO many of the most suitable have been done a long time ago. There are some opportunities for infill too.
However, I wonder how attractive being downtown will be for more residential living given the very diminished amount of retail you can actually walk to, that needs work too.
MisterSartorial
New Member
I'm aware of discussions and deal-making that are nearing conclusion for a large potential residential conversion downtown. I'll share details here if and when anything becomes more official.
northlands
Senior Member
Someone alluded to a similar rumour maybe ~6 months ago. I still suspect it's Petwin Tower. Or maybe the Jarvis Building.
David A
Senior Member
Actually it would be a great area to add more residential in, closer to the river valley and Leg park area. Having more people here would make the area better too.
IanO
Superstar
In speaking with a very active Downtown/multi-fam realtor today, he said that it has 2-3 years worth of inventory at the moment.
Absolutely wonderful to hear...
Absolutely wonderful to hear...
TAS
Senior Member
Pretty amazing given there hasn't been that many condos (versus rentals) built downtown/oliver in the past few years - the most recent, The View, converted to rental leaving those owners opportunity to purchase something else if they wanted.
Just not a lot of interest in owing a mid or high-rise condo out there - so different from other Alberta city.
TAS
Senior Member
A tale of two markets? At least when it comes to downtown living.
Calgary is setting all-time sales records right now as people flock to Alberta. Not translating as much here, at least in the condo market.
Calgary real estate market sizzles as newcomers flock to Alberta - Calgary | Globalnews.ca
Home sales in Alberta's largest city set a record in June, up 11 per cent year-over-year, with apartment sales alone up 48 per cent.
www.google.com
The frenzy in Calgary — the city set an all-time record for home sales in June, up 11 per cent year-over-year, with apartment sales alone up an eye-popping 48 per cent — flies in the face of what’s happening nationally.