Jasper House | 121.91m | 36s | Lamb Dev Corp | a—A

What do you think of this project?

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Mountain Man

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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...
 

Seandroid

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What a strange comment about Edmonton not being a market for high rise condos. What about all of the other.... well... high rise condos?
 

Moderne

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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.
 

Mountain Man

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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

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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

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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.
 

archited

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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.
 

Daveography

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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
 

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