Downtown Real Estate

[Stevey_G]

I'm feeling somewhat more like this - having people come downtown from outside communities is not as much of an issue right now as having people living downtown and building a downtown that prioritizes a downtown lifestyle. And that means to me more walkable streets building towards more pedestrianization with less space and priority for street parking and cars overall.

Downtown is drawing good crowds a lot of weeknights and weekends with continual events at the arena and the Ice District space and old Baccarat site. We've also got an expanded Winspear coming and the Citadel Theatre and museums and Churchill Square event space, unique, quality restaurants that you can't experience anywhere else but downtown.

It's getting more people living downtown that's the priority and what attracted me to that? It wasn't easy parking. It's walkable spaces, lots of amenities, being able to easily attend events all summer long in Churchill Square. And of course close proximity to River Valley. I think one of downtown's weaknesses is the priority on cars and its subsequent infrastructure such as parking. It makes it less pleasant to walk around and hang out in. It's the number one reason why I would leave dt but I'm hoping that better quality pedestrian experience is going to happen. I'm really looking forward to 104 st farmers market back. I like that I have a decent bike experience too but would also prefer to see that improve, but it can't as long as priority is how easy and convenient it is to drive downtown.

I'm just describing my experience and preferences though and I know that's different from many.

That's a great analysis and point of view. Mine's fairly anecdotal based off my own views. Kinda crappy to have people over for drinks and wings on a game night then when one gets a ticket from the meter maid they all stop coming and we all goto South Edmonton Common instead.

Downtown is still untapped potential in my opinion. But the city's inability to act swiftly and unilaterally to the problems the community faces is just too much of a boat anchor.

 

[IanO]

Gotta love a guy in our building putting a 2+2 850sqft on the market for $225,000.00.... 225! That's less than the 1bdrm is on the market for and far from the $300-330k that these units used to go for pre-covid.

What in the absolute fuck Edmonton.

 

[David A]

That title isn't really being fair to the Katz group considering the article itself clearly states they're following the current permitting process for surface parking. Title is designed to draw outrage at the local billionaire, when they're actually playing by the rules while others just let their lots go to hell.

Yes, he might actually be one of the few that played by the rules by going to the city and getting an exemption. Most others have just ignored the rules that haven't been enforced until now and I am not holding my breath about them being well enforced in the future despite what is said. I suppose trying to shift the attention on Katz is a nice deflection from the debacle of rules not being enforced for so long.

 

[David A]

Gotta love a guy in our building putting a 2+2 850sqft on the market for $225,000.00.... 225! That's less than the 1bdrm is on the market for and far from the $300-330k that these units used to go for pre-covid.

What in the absolute fuck Edmonton.

Someone who is smart and has some money may be able to get a heck of deal. I am guessing someone who has to urgently sell for some reason, or is clueless about real estate prices.

I knew a situation where someone passed away around a year ago and the children sold the house ridiculously cheap. I don't know what they were thinking, but I think they just wanted cash as quick as possible.

 

[thommyjo]

Gotta love a guy in our building putting a 2+2 850sqft on the market for $225,000.00.... 225! That's less than the 1bdrm is on the market for and far from the $300-330k that these units used to go for pre-covid.

What in the absolute fuck Edmonton.

Sort of tough when fox, ultima, and quest are in the low 300s for 2bdrms though. Can’t compete with those in comparison

 

[Stevey_G]

It comes at my expense and the expense of others with bad timing, but affordability in the housing market is a very good thing for Edmonton. That said, I think we're going to see in increase in central values y/y based off a few metrics, we're just not there yet.

 

[David A]

That's a great analysis and point of view. Mine's fairly anecdotal based off my own views. Kinda crappy to have people over for drinks and wings on a game night then when one gets a ticket from the meter maid they all stop coming and we all goto South Edmonton Common instead.

Downtown is still untapped potential in my opinion. But the city's inability to act swiftly and unilaterally to the problems the community faces is just too much of a boat anchor.

Parking is a big beef for me too, with the city extending the paid parking hours to times that hardly anyone is coming downtown. It just deters more people on Sundays and hurts the remaining struggling businesses.

 

[Gus Haynes]

^^I know in my condo building, someone just sold a 2 bedroom for the highest price our building has seen in 18 months. Only one data point, sure, but maybe a glimmer of hope.

 

[Gronk!]

Parking is a big beef for me too, with the city extending the paid parking hours to times that hardly anyone is coming downtown. It just deters more people on Sundays and hurts the remaining struggling businesses.

I can make the same complaint about having to pay for parking in Old Strathcona (especially on Sundays) but that doesn't stop the crowds who flock to this neighborhood.
Why is parking OK for Old Strathcona but not downtown?

 

[Stevey_G]

Parking is a big beef for me too, with the city extending the paid parking hours to times that hardly anyone is coming downtown. It just deters more people on Sundays and hurts the remaining struggling businesses.

Yes! That's exactly it precisely. And the only argument you ever hear to counter these concerns is that the parking restrictions exist in all major downtowns.

You'd 100% get the student vote hahahah. Imagine being a starving student and having at least a fighting chance at free parking every day both north and south of the school? It would save kids at Macewan so much money.

 

[David A]

I can make the same complaint about having to pay for parking in Old Strathcona (especially on Sundays) but that doesn't stop the crowds who flock to this neighborhood.
Why is parking OK for Old Strathcona but not downtown?

I would flip the question around a bit. The main reason paying for parking exists is because of scarcity and demand. The empty blocks of parking spots I see regularly downtown on Sundays tells me for whatever reasons the demand is not there. So why pretend it is.

 

[Greenspace]

The mayor doesn't understand how finances work or how this was going to be paid for. In playing politics Downtown looses.

Downtown Growth has Stalled — and Tensions are Mounting | Urban Affairs

Developers are frustrated by council’s rejection of a plan to subsidize residential builds in the core

urbanaffairs.ca

 

[MacLac]

The mayor doesn't understand how finances work or how this was going to be paid for. In playing politics Downtown looses.

Downtown Growth has Stalled — and Tensions are Mounting | Urban Affairs

Developers are frustrated by council’s rejection of a plan to subsidize residential builds in the core

urbanaffairs.ca

Yikes! I used to like Kalen but this "bullying" technique does not look good on her. Does she not realize that her quip about "YYC having 13 conversions on the go" decision was done during COVID and that they were screamingly desperate not to have the dreaded of all +35% vacancy DT. Her and her UDI group are obvious subsidized by lobbyist groups.......

 

[Kosy123]

Yeah from my understanding only 4 of the projects are confirmed to go in Calgary right? Rather than all of them?

UPDATE: sorry there’s 13 that are considered active, my bad there folks

 

[archited]

Maybe, just maybe, if the Gondola Project had been green-lighted, downtown would have had a more rosy outlook in the current time-frame. Maybe if the City had carried through with its Warehouse District Park competition, too, that would have engendered more interest in that project (with a lot more exciting possibilities) and adjacent lands. And maybe if the little pedestrian/bicycle bridge spanning 100 Street adjacent to the Macdonald Hotel that would have added a little oomph. I have totally lost faith in this "status quo" Council and Mayor. These people should be thinking outside the box not hemmed in by their own fears and prejudices. It almost feels like a tail-wagging-the-dog scenario... next election!