_urbanite
Senior Member
I see $4149/mo in the listing, which is just under 50k/year. Add property tax of about 31k/year on top of that. What an insane about of money to pay to live in downtown Edmonton
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Downtown Real Estate
- Thread starter Daveography
- Start date
I see $4149/mo in the listing, which is just under 50k/year. Add property tax of about 31k/year on top of that. What an insane about of money to pay to live in downtown Edmonton
Barnaby
Active Member
The tax rates for apartments make no sense considering the little land they take up per unit compared to SFHs.
EtoV
Active Member
That's exactly why the idea of a land value tax is gaining traction in a lot of places
policyenthusiast
Active Member
This is an interesting concept, do you know anywhere in Canada that's piloting this?
EtoV
Active Member
Not Canada, it Detroit is looking to do it. They have like 3 families that own everything there, which is making it hard for their downtown parking lots to be redveloped, since it's in their best interests to hold the land for now.
detroitmi.gov
The Land Value Tax Plan | City of Detroit
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MacLac
Senior Member
Greenspace
Senior Member
Alberta Precision Labs still has a long term lease on the property. Good news for Downtown and Rohit though.
Gronk!
Senior Member
I hope Rohit does far more than just maintain AHS as a client. I hate having to traverse through that rat maze at the pedway level.
Coprolite
Active Member
It's the poster child for why I stopped bothering with pedways in this city.
Edmontonian
Active Member
Thats excellent news, 102 St. Centre is a very central parcel of land and in dire need of help, Rohit has shown to be capable.
I want to add a quick disclaimer that I understand the current market and I'm not expecting a big tower here any time soon or possibly ever but I thought I'd share an old proposal for the site that some newer members may not have seen before:
https://edmonton.skyrisecities.com/database/projects/102-street-centre.12571
Whats more realistic than a tower however is the most recent concept: https://www.arcstudio.ca/102-street-centre-redevelopment
It would be a big upgrade for the area if Rohit can do something like this.
I want to add a quick disclaimer that I understand the current market and I'm not expecting a big tower here any time soon or possibly ever but I thought I'd share an old proposal for the site that some newer members may not have seen before:
https://edmonton.skyrisecities.com/database/projects/102-street-centre.12571
Whats more realistic than a tower however is the most recent concept: https://www.arcstudio.ca/102-street-centre-redevelopment
It would be a big upgrade for the area if Rohit can do something like this.
David A
Senior Member
With the Lab occupying much of this space, there will be limitations on what can be done, but I am hopeful Rohit has some ideas to improve it.
I don't mind the pedway, very handy when the weather outside is not great, but there is a lot of room for improvement.
I still do miss the original concept of retail space which was very nice and around only for a few years, not viable I guess.
Greenspace
Senior Member
"The sale of Sun Life Place is a strong vote of confidence in the Edmonton core, according to Chibiri.
It’s been a good run for his team, which has sold three downtown office buildings – or more than 800,000 sq. ft. of well-maintained office space – so far in 2024, and another office deal is in the works.
“Once a group sees one trade, then two, it has a snowball effect,” says Chibiri. “And more and more people are wanting to look at office.”
It’s been a good run for his team, which has sold three downtown office buildings – or more than 800,000 sq. ft. of well-maintained office space – so far in 2024, and another office deal is in the works.
“Once a group sees one trade, then two, it has a snowball effect,” says Chibiri. “And more and more people are wanting to look at office.”
IanO
Superstar
policyenthusiast
Active Member
Great info, was this on the Council agenda?
Gronk!
Senior Member
Downtown needs per-door housing incentives, report authors argue
The authors of the new Downtown Investment Plan told the co-hosts of Episode 281 of Speaking Municipally that public investment is necessary to stimulate Edmonton's struggling downtown core, even though the requests are expensive and ambitious.
edmonton.taproot.news