Mountain Man
Senior Member
Did Edmonton not get a massive amount of rental buildings converted to condos in the last decade? was a huge problem here, the rental vacancy rate was less than 1% before the recession...
Jasper House | 121.91m | 36s | Lamb Dev Corp | a—A
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@Mountain Man We sure did, during the last boom.
Seandroid
New Member
What a strange comment about Edmonton not being a market for high rise condos. What about all of the other.... well... high rise condos?
MetroEd
Active Member
^ya pretty ridiculous considering that's all we seem to be building these days!
Moderne
Active Member
The floor plans sucked and it was too expensive. I feel he was too bullish thinking he knew it all. Edmonton and Toronto are two different markets.
We're most definitely a high rise condo market, we just like well-designed condos appropriate for our city and lifestyle. Hence the reason why Encore went on sale nearly a year later, and well, you know what's happening there.
We're most definitely a high rise condo market, we just like well-designed condos appropriate for our city and lifestyle. Hence the reason why Encore went on sale nearly a year later, and well, you know what's happening there.
Mountain Man
Senior Member
What % of new highrises are rental vs condo? Rental towers are the norm in Calgary these days, though our Condo market is a bit overbuilt lol.
crisp
Active Member
I think Jasper House flop was a combination of high price and people doing their research and knowing Lamb dev is a shitty group to deal with. His comments on oil recession is all BS, sleezy salesman putting blame on something else.
archited
Senior Member
Condominiums vs Rental Apartments -- it's not a simple economic equation. Condos from a developer's perspective are more complicated to build from a panoply of viewpoints -- there is a unit sales floor that has to be achieved before the development can proceed; legal costs and sales commissions for each unit have to be figured into the bottom line; there is greater interaction with buyers (material choices, appliance types, etc.), and the buildout in general has to meet a higher standard than for apartment structures (you can see that in looking at which group has more substantial aesthetics in what is currently evident in Edmonton -- the Pearl, the Symphony to name a couple of landmark condos). Apartment buildings are easier to build but harder to maintain unless they are really well managed. I think that it can be stated, generally, that apartments are more aimed at first-time-away-from-home residence seekers and transient workforce individuals. Condos require a substantial provable income and so are usually aimed at a little older and more settled market.
I think that @StopDropandLOL hit the nail on the head vis-a-vis the Condo King. In a larger market like Toronto and the southern Ontario environs, you can have a developer whose niche is strictly small units (typically) and he can succeed with that model. Edmonton being a smaller market (for now) is not so easily niche-driven. Local developers certainly have a grasp of these facts.
I think that @StopDropandLOL hit the nail on the head vis-a-vis the Condo King. In a larger market like Toronto and the southern Ontario environs, you can have a developer whose niche is strictly small units (typically) and he can succeed with that model. Edmonton being a smaller market (for now) is not so easily niche-driven. Local developers certainly have a grasp of these facts.
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Sounds like the entire site and development have been put up for sale.
archited
Senior Member
Glad to see this move out of the "Toronto sphere". Unless Condo King is prepared to take a loss, this probably will be on the market for quite some time.
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Huh, Jasper House did an Administrative Walk-On at EDC on Nov. 20:
C. COMMITTEE DELIBERATION (Closed to the Public)
C.1. Jasper House (Development Permit)
MOVED: D Brown
The Committee has reviewed the Administrative Walk-on and has noted :
● Inconsistencies between the site plan and landscape planting plan related to the
development of the courtyard space.
● The Landscape Architect should confirm the health of existing street trees and
provide details on streetscape improvements, repairs, bioretention details, etc.
SECONDED: R. Labonte
CARRIED
FOR THE MOTION: W. Sims, M. Figueira, A. Zepp, R. Labonte, T. Antoniuk, S.
Kaznacheeva, J. Mills, D. Deshpande, C. Holmes, D. Brown, B. Nolan
https://www.edmonton.ca/city_government/documents/EdmontonDesignCommittee_Minutes_NOV20.pdf
C. COMMITTEE DELIBERATION (Closed to the Public)
C.1. Jasper House (Development Permit)
MOVED: D Brown
The Committee has reviewed the Administrative Walk-on and has noted :
● Inconsistencies between the site plan and landscape planting plan related to the
development of the courtyard space.
● The Landscape Architect should confirm the health of existing street trees and
provide details on streetscape improvements, repairs, bioretention details, etc.
SECONDED: R. Labonte
CARRIED
FOR THE MOTION: W. Sims, M. Figueira, A. Zepp, R. Labonte, T. Antoniuk, S.
Kaznacheeva, J. Mills, D. Deshpande, C. Holmes, D. Brown, B. Nolan
https://www.edmonton.ca/city_government/documents/EdmontonDesignCommittee_Minutes_NOV20.pdf
Weird that this one continues to churn through the administrative process. Makes me wonder if they have a buyer lined up.
archited
Senior Member
Seems likely @westcoastjos
Edmontonian
Active Member
I hope this one gets picked up, I actually like the look of the building and want to see more high rise buildings in this area.
Kaizen
Senior Member
It would be great if another developer picks this up, one that has a decent reputation and can deliver. I think we dodged a bullet with Lamb. I think the design is elegant, and a nice size for the north perimeter of the park.