Abbey Park Residences | 22.86m | 6s | Abbey Lane Homes

[davcocom]

Should be an announcement tomorrow on a new piece of land they have purchased and are planning their next project on. Must be eager to move that cash around.

hopefully a tower!

 

[MacLac]

Well that was quick.

Just got bought yesterday……so barely 1 day on the market…….not bad…..

 

[IanO]

Does not surprise me one bit given the lack of modern quality/institutional product out there.

 

[Barnaby]

I hope they build something else in the area.

You reminded me to post this photo I took on Sunday.

 

[Romanov]

Does not surprise me one bit given the lack of modern quality/institutional product out there.

Agree, there definitely is a gap in terms of higher quality rental product in Edmonton. The below article outlines how Avenue living, who mostly invests and manages property rather than develops, just purchased two Edmonton apartments and is drawn to the market gap in which many competing apartments are lower quality and under-managed.

Avenue Living passes $5B in assets under management

Avenue Living Asset Management was founded in 2006 with the purchase of 24 rental units in Brooks, Alta. for just over $3 million. With its latest acquisitions, the Calgary firm has surpassed $5 billion in assets under management, with continued growth on the horizon.

renx.ca

 

[cmd uw]

hopefully a tower!

Highly unlikely. Better margins, lower risk to build 6-storey wood frame. Abbey Lane has built both wood and concrete product and I am almost certain Bruno would tell you the same thing.

 

[strata]

The land purchase they announced on Wednesday was at Michener Park, so I would assume a project very similar to this one.

 

[IanO]

Put money on it.

 

[thommyjo]

 

[Gronk!]

Those townhouses with the bubble windows need to be protected at all costs - full stop.