Connect Centre | 56.3m | 16s | ONE Properties | DIALOG

What do you think of this project?


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IanO

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Can be!

You most certainly do not have to have them average out to $600/sqft to be viable.

Encore was in the 550 range, Fox was in the 500 range and resale there are tons available for 400-500.
 

archited

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^^^^ if that is true (and I have my doubts) it would go to a clear explanation of why no one is building condos -- what developer in his/her right mind would want to build condos and sell them at a loss, promoting a race to the bottom. I can see some anomalies during COVID but as a general trend this is a financially unsustainable model -- same is true for rentals. Something is way off here in terms of your numbers Ian; otherwise construction in Edmonton would grind to a complete halt.
 

IanO

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Construction costs for delivering concrete high-rise product certainly ranges, but last I saw it was ~$350-400/sqft which does not include other hard or soft costs.

Wood frame condos in and around the core can be delivered for closer to $300-325/sqft.
 

Avenuer

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Hugh Jazz

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Construction costs for delivering concrete high-rise product certainly ranges, but last I saw it was ~$350-400/sqft which does not include other hard or soft costs.

Wood frame condos in and around the core can be delivered for closer to $300-325/sqft.
I'm not entirely sure what COVID has done to total construction costs, but pre-covid, you could definitely get concrete high rise rental built for sub-$300/sq ft (construction cost only). Not super high end mind you, but decent enough.
 

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