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Downtown Real Estate

policyenthusiast said:
Downtown housing is still pretty undervalued, IMO. Incentivizing more businesses in the retail spaces of mixed-use buildings is what downtown needs.
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When the COE and EPS et al decide to actually commit to making Downtown safe again, things will change. It's a very questionable proposition at the moment and subpar from any other Downtown in Canada. When will we stop accepting what we have now as acceptable? It's not.
 
David A said:
I agree vacancy rates have come down and probably waiting for interest rates to decline is a very important factor now. If so, we don't need an incentive for what could happen in six months anyways.

However, I do feel the next to interest rates, those who would pursue such projects also need to be confident the demand is there and I don't think they are confident enough now for other reasons already mentioned.
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Demand isn't really the issue here. It's tied to other factors - cost of capital, cost of construction and market rents.
 
No, demand is always the issue because it drives prices to cover the costs. And subsidies are just a shortcut to create an artificially higher price for sellers when buyers really do not want to pay more.
 
cmd uw said:
You're obviously not in real estate development.
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If I was, I wouldn't build or sell at a loss either. I can understand industries wanting incentives as that benefits them financially. So in that regard I am unbiased, as opposed to some here.

There is a role for subsidies where needed, for instance affordable housing for low income people, but I have concerns about more general subsidies at this time.
 
Address: 10155 - 94STREET NW
10159 - 94 STREET NW
10175U - 94 STREET NW
Planner Description: The City has received a rezoning application from DIALOG. The current zone is the Mixed Use Zone (MU h85.0 f8.0) and the proposed zone is still the Mixed Use Zone (MU h150.0 f13.0) but with a higher maximum height and floor area ratio. The proposed zone would allow large scale mixed use development up to a height of approximately 42 storeys (150 metres) with a maximum floor area ratio of 13.0. The maximum tower floor plate would be 850 square metres and there would be optional non-residential uses located at ground level. In the Central District Plan, the site is located within the Centre City.
Status: In Review
File Number: LDA24-0421

Interesting rezoning proposal.

Not sure if anyone knows anything about this site or what the chances are that a project moves ahead here in the next few years.

Would be fantastic for the area to get something built and get so many more people living centrally.

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Kinda sorta, not really.

I believe this is more of a seniors and E4C type of project.
 
Didn't this project already have a thread (an entry a year or so back). Regardless, happy to see it move forward and they must have a concept in mind if they are upgrading zoning. The site has exceptional views. This will also make the "Hat" people happy and maybe shift their thinking on their site across the street from Five-Corners Hat already built.
 
I believe it's this one, when the Quarters was recently rezoned, Bala Balakrishran said his team was close to submitting a development permit before Covid, but Administration told him he will need to submit a rezoning application If his team intends to go forward with the development at that height. I may be miswording a but.
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