Edmonton City Centre Mall (Renovations) | ?m | 2s | LaSalle Investment Management

[Munanyo]

I've long been very critical of the City doing an awful job of promoting Edmonton to business'/corporations from elsewhere and trying to set up shop here, even if it means just a small regional office to start. We've got the all the qualities a business needs to succeed and that includes everything people need/want to live a happy and fulfilling life here. But our marketing sucks, and it seems like we are far behind even Calgary when it comes to marketability and providing incentives and reasons for people to come move here and bring business with them.

There's a reason why we have amazing retention rates with immigrants who stick around for years and build their lives here, but getting them and others to come in the first place is the part we seem to be having an issue with.

 

[David A]

Head offices don't make a great city. Vancouver doesn't have that many head offices and its a pretty good city.

Yes, this is true, but I would say the chances of us attracting some business offices are much higher than us attracting the mountains, the ocean and a temperate pacific climate.

 

[itom987]

Vancouver doesn't need head offices, they have a ton of wealthy people living there that outweigh the benefits that head offices bring.

 

[IanO]

They also have a ton of middle class who work like the rest of us and a significant corporate base that supports the tax base, is philanthropical and are city builders.

 

[David A]

They also have a ton of middle class who work like the rest of us and a significant corporate base that supports the tax base, is philanthropical and are city builders.

Well, unlike Alberta which has two cities with metro populations well over a million, BC only has one. So it is the business centre for BC which is a good size province, larger than Alberta both population and geography wise. It also is a centre for businesses with a focus on Asia.

Yes, it is more a regional centre not so much a location for nationally focused business, but it is a major regional centre. By virtue of geography it is somewhat isolated from the rest of Canada, so I suspect the local business community is quite focused on the city and the region.

A lot of the propaganda diminishing Vancouver as a business centre comes out of another western city we are familiar with that sometimes disparages us too.

 

[IanO]

Vancouver has been a tech darling for years now (although pausing) and highly desirable for both employers and employees.

 

[David A]

Vancouver has been a tech darling for years now (although pausing) and highly desirable for both employers and employees.

Desirable yes, but the problem is a many employers there pay Edmonton level salaries and the employer has to pay Vancouver level housing costs, which are more than double ours.

So, it is desirable for employees, but not always doable.

 

[soupcrate]

Desirable yes, but the problem is a many employers there pay Edmonton level salaries and the employer has to pay Vancouver level housing costs, which are more than double ours.

So, it is desirable for employees, but not always doable.

Vancouver has a very sizeable big tech presence with Amazon and Microsoft though, and those firms pay way way more than you could possibly earn in Edmonton.

New grads at Amazon Vancouver make 170k (including relocation). That is far above what senior developers top out at in Edmonton.

 

[IanO]

Desirable yes, but the problem is a many employers there pay Edmonton level salaries and the employer has to pay Vancouver level housing costs, which are more than double ours.

So, it is desirable for employees, but not always doable.

Housing is $1000 higher, but you don't need a car = 500+, more walkable amenities, climate and depending on industry higher incomes.

It works for many and the reason why many of my friends have moved there over the years. They don't dislike Edmonton, but Vancouver is a more attractive overall package in their sectors.

 

[Gronk!]

Vancouver is a great place to visit but I don't wanna live there. Their high cost of living, miserable rainy weather and their humongous never-ending homeless population will ensure that Edmonton remains my home for the foreseeable future.

Anyway - any more news of ECC?

 

[ChazYEG]

Housing is $1000 higher, but you don't need a car = 500+, more walkable amenities, climate and depending on industry higher incomes.

It works for many and the reason why many of my friends have moved there over the years. They don't dislike Edmonton, but Vancouver is a more attractive overall package in their sectors.

$1000 higher on the lower end, and mostly for studios/1bdrm. $1500 higher would make more sense for anyone who has a family. That, and higher taxes (PST and higher income tax on higher incomes) that pretty much nullify the lack of need for a car.

Climate is very subjective. I know A LOT of people who left Vancouver for other places in Canada (Edmonton included) due to the miserable rainy weather, that can take a massive toll on mental health, as much as the cold.

That is not even considering that, if you want to buy a condo/house, these costs will baloon!

 

[David A]

Vancouver has a very sizeable big tech presence with Amazon and Microsoft though, and those firms pay way way more than you could possibly earn in Edmonton.

New grads at Amazon Vancouver make 170k (including relocation). That is far above what senior developers top out at in Edmonton.

I was thinking about employees in general, not just limited to tech. Oddly, average wages in Vancouver are lower than here.

 

[David A]

Housing is $1000 higher, but you don't need a car = 500+, more walkable amenities, climate and depending on industry higher incomes.

It works for many and the reason why many of my friends have moved there over the years. They don't dislike Edmonton, but Vancouver is a more attractive overall package in their sectors.

Oh, it can work if you have a decent income but you can't live quite as well or the same if you don't. I recall visiting a friend of a friend who had a small bachelor apartment there (it was kind of sad and he ended up moving back here) and someone I know who had a nice house here, but retired and got what would be considered a fairly modest condo here.

It's probably more doable for a single person or a couple with no kids, but it doesn't work so well if you have a family unless you have a high income.

 

[David A]

Vancouver is a great place to visit but I don't wanna live there. Their high cost of living, miserable rainy weather and their humongous never-ending homeless population will ensure that Edmonton remains my home for the foreseeable future.

Anyway - any more news of ECC?

I think we just needed a break from the bad news, so we took a mental vacation to Vancouver!

This isn't about City Centre, specifically but closer back on to the topic of mall vacancies - its not just an issue here.

Nordstrom closing at CF Chinook will leave big hole in retail landscape

The U.S. retailer has announced it is winding down its Canadian operations; two Calgary locations are affected

calgaryherald.com

 

[cmd uw]

Housing is $1000 higher, but you don't need a car = 500+, more walkable amenities, climate and depending on industry higher incomes.

It works for many and the reason why many of my friends have moved there over the years. They don't dislike Edmonton, but Vancouver is a more attractive overall package in their sectors.

But that's no different then lots of 'west coast' cities compared to inland cities in the US. Sure people might be able to afford more house and almost everything living in Edmonton or Denver but that doesn't stop people from moving to SFO, Seattle, etc.