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Downtown Real Estate

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Isn't the $100 per square foot program in Calgary only for office conversions? Correct me if I'm wrong but I haven't seen anything it being used for new developments
 
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In that letter Kalen Anderson and UDI is lobbying the city to put up $100/sq ft "a figure consistent with the City of Calgary". I guess industry stakeholders here say this figure is a "neccessity".

However, Calgary's figure was $75/sq ft for their program not $100 - that's a 25% difference. And I've seen people there suggest $50/sq ft might be more suitable now if in fact they decide to further fund this incentive program. Regardless, UDI should be more accurate with their numbers if they want to argue city taxpayers should cough up a figure consistent with what Calgary did.

The $75/sq ft is referenced here.
 
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I am very sick of those that treat our government money as a piggy banks or slush funds for their interests and want to abscond with as much as they can.

It does little for credibility to put forth a number and claim it is the same as somewhere else if it is not and makes those proposing it look foolish or greedy.
 
I disagree. It is one of the last catalyst projects identified in the Capital City Downtown Plan that is still unfunded. The numbers to build concrete construction Downtown or convert do not make sense. Industry of course should provide some financials to back that up.

We are on track to build 20,000 units in the Edmonton area this year, almost exclusively in the suburbs. Sure there's a bit of infill but almost very few units per year Downtown. At our current rate its going to take 100 years to fill up all our vacant land. I just don't see how we can do that. Edmonton continues to sprawl ever outwards and that will have future implications for our tax base and Downtown sustainability.
 
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Units are being built where people want to live. In Edmonton people do not want to live downtown because of safety concerns, lack of jobs and the limited number of retail services in the area.

If you have to drive to the edge of downtown or beyond for these things what is the attraction of being downtown? The problem is not affordability.
 
Cheap, quick, easy. Got it.

Cheap, quick, easy definitely describes building in the suburbs for developers even though it isn't cheap for the city to maintain.

What also makes this so easy is a car centric city that has evolved, lots of land and our seemingly endless desire to build more roads.

All that puts downtown at a disadvantage. Given the state of our downtown, it always surprises me how costly the land is versus the suburbs where so many prefer to live. If it's supply and demand, maybe we need to end the supply of suburban land and new road projects that facilitate those builds.
 

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