Emerald Tower | 153.61m | 45s | Regency Developments | DER + Associates

[Uptown_one]

July 4, lots of big equipment on site today.

 

[MetroEd]

^cool. mighty tall for the neighbourhood!

 

[Daveography]

I was expecting a lot more to have been done here, and certainly more than zero activity that's there currently.

 

[archited]

Soil studies and soil remediation reports take time @Daveography -- especially the approval process. I wouldn't expect much to happen here until next year.

 

[quit]

My ex did environmental impact assessments and they take forever depending on what type is required. This is likely full remediation that will require a 70 page report be sent to the city and someone else. They haven't even started sales on this tower.

 

[gfhayes]

not good

 

[MichaelC]

My ex did environmental impact assessments and they take forever depending on what type is required. This is likely full remediation that will require a 70 page report be sent to the city and someone else. They haven't even started sales on this tower.

I saw a structure which looked like it will be a sales centre setting up here: https://www.google.ca/maps/@53.5410...vfPjSmRnE1d3nN8VvISw!2e0!7i13312!8i6656?hl=en . It could be for this tower.

 

[Daveography]

It's possible and likely they're building it as rentals.

 

[crisp]

I saw a structure which looked like it will be a sales centre setting up here: https://www.google.ca/maps/@53.5410...vfPjSmRnE1d3nN8VvISw!2e0!7i13312!8i6656?hl=en . It could be for this tower.

That's a Westrich trailer, I believe they are setting up for their Grandin Tower sales centre.

 

[archited]

Yes, they said some time ago that the building would be rentals; their margins were apparently very thin on the Pearl and they feel like they don't want to chase the condo market any longer.

 

[Daveography]

@archited Condo market in Alberta is pretty tight right now, but rental rates are still high enough to attract new builders. This is good as building starts will continue and rental rates should hold reasonably steady. I think the condo market will pick up again soon, now that the economy is picking up steam again.

 

[archited]

I hope that this time around Alberta/Edmonton seriously begins to think about economic diversification (I want to be part of that).

 

[quit]

Half the reason for the parking boondoggle was to keep prices lower for buyers. At least that is what they told the press. Market controls prices to an extent with condos, whereas with rent, they can charge whatever they want relatively speaking.

 

[Daveography]

@westcoastjos Rents are very much market-based as well.

I still think reduced parking overall would have been a better bet for this location than simply putting it above-ground.

 

[quit]

@westcoastjos Rents are very much market-based as well.

I still think reduced parking overall would have been a better bet for this location than simply putting it above-ground.

On the new and high end rent range, there isn't much in Edmonton, so unfortunately, the range is larger than one would think.