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Edmonton Real Estate Market

TAS said:
It's interesting how high the ridership in Calgary is and they have virtually no TOD. What they have, which I'm not suggesting we copy, is lots of parking at many of their stations

In essence their system is for drivers who can park for less outside of city centre, where it is quite expensive there, and take the train in.
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What are you talking about?

Brentwood, Bridgeland, Erlton, Banff Trail (sorta), Heritage, Fish Creek, Westbrook, Victoria Park, and Saddletowne all have varying levels of TOD.

Edmonton has Century Park, Stadium, Clareview, and Holyrood (sorta). Soon SPR/142. That's half the amount Calgary has.
 
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dunno said:
What are you talking about?

Brentwood, Bridgeland, Erlton, Banff Trail (sorta), Heritage, Fish Creek, Westbrook, Victoria Park, and Saddletowne all have varying levels of TOD.

Edmonton has Century Park, Stadium, Clareview, and Holyrood (sorta). Soon SPR/142. That's half the amount Calgary has.
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Yes it's pretty common knowledge the volume of downtown workers they have drives their ridership substantially coupled with higher dt parking rates.

I wonder if cities keep stats on % of riders who begin their trip with a vehicle, other transit, bike or walk. Would be ineresting stats.
 
TAS said:
Yes it's pretty common knowledge the volume of downtown workers they have drives their ridership substantially coupled with higher dt parking rates.

I wonder if cities keep stats on % of riders who begin their trip with a vehicle, other transit, bike or walk. Would be ineresting stats.
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None of this has to do with what I critiqued about your post. But yes, their ridership is driven heavily by downtown employment and, yes, that is common knowledge.
 
thommyjo said:
Downtown workers is a huge part of their ridership vs us.

And just way more stations (especially pre valley line).

Apples to oranges for our ridership vs Calgary.

And their bus ridership sucks vs ours, partially cause the trains do so well and employment concentration downtown.
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Calgary Transit's bus ridership is 199,000/day Q3 2023 (taking the total for Calgary Transit and subtracting C-Train ridership).
ETS' bus ridership is 223,000/day Q3 2023 (similar to Calgary for calculating numbers).

Yes it's higher but not significantly. They also have the start of an actual BRT system in a way that we simply do not.
 
dunno said:
Calgary Transit's bus ridership is 199,000/day Q3 2023 (taking the total for Calgary Transit and subtracting C-Train ridership).
ETS' bus ridership is 223,000/day Q3 2023 (similar to Calgary for calculating numbers).

Yes it's higher but not significantly. They also have the start of an actual BRT system in a way that we simply do not.
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Considering they have higher population than us I'd say out ridership is significantly higher on a per capita basis.
 
https://www.infrastructure.gc.ca/alt-format/pdf/housing-logement/housing-plan-logement-en.pdf

Introducing an Accelerated Capital Cost Allowance for Apartments
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We are going to create the next generation of Canada’s rental stock, and get them built faster by introducing a temporary accelerated capital cost allowance tax measure that will be proposed in Budget 2024. Increasing the capital cost allowance rate from 4% to 10% will incentivize builders to get more projects moving by increasing their after-tax return on investment. Eligible new purpose-built rental projects would be those beginning construction on or after April 16, 2024, and before January 1, 2031, and that are available for use before January 1, 2036.
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Expanding the Removal of Federal Taxes (GST) for Rental Housing
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We eliminated the Goods and Services Tax (GST) from new rental apartment projects and co-ops which was estimated to kickstart the construction of up to 300,000 new homes. In Budget 2024, the government will propose to expand this measure to remove the GST for student residences built by public universities, public colleges, and public school authorities. This change will apply to new student residences that begin construction on or after September 14, 2023, and before 2031, so long as they complete construction before 2036. This builds on existing measures to unlock cheaper financing for lenders that will result in competitive rates charged to builders. It will bring more homes to the market, faster and at better prices.
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Providing Low-Cost Loans to Build Apartments for the Middle-Class
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Access to low-cost loans helps get projects off the shelf and shovels in the ground. The federal government’s Apartment Construction Loan Program boosts the construction of rental housing by providing low-cost repayable loans to builders and developers. Since 2017, the program has supported over 48,000 new rental homes and is on track to support over 101,000 new homes by 2031-32.Budget 2024 will propose another $15 billion in loans for the Apartment Construction Loan Program to build a minimum of 30,000 new rental apartments in big cities, small towns, and rural communities alike. With this additional financing, the program is on track to build over 131,000 new apartments by 2031-32.
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Any ideas on how these will affect us?
 
A targeted approach to get more supply built (potentially) using this only for new builds. For some places this will be helpful in that regard, though it will have it's upward pressures on prices overall. What does this mean for our market in Edmonton? I don't think we have a supply issue but with it being new build specific and first time home buyers that likely means the more affordable options which are on the edges of the city (for the most part). I do wonder if it will have an impact on accelerating sprawl.

 
Avenuer said:
Considering they have higher population than us I'd say out ridership is significantly higher on a per capita basis.
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The metro area populations are very similar, and Calgary's overall transit numbers are still much higher than ours. Yes, you can argue that each city's transit operates only within city limits (mostly), however there are many people in St Albert using ETS and connecting at Naki Transit Centre, Spruce Grove gets an express ETS bus, as does Fort Sask, etc.
 
I'm currently about to kickstart my process to search for a home to buy. I've pinpointed the realtor and mortgage broker I'll be dealing with and while we haven't begun actual showing (yet) based on my own observations and that of my realtors, it's definitely a sellers market out there and things are hot.

Thankfully it looks like there will be some decent options in my price range, but man, I won't be surprised in another year or two I would be completely priced out. I'm starting to feel as though the spillover effect from Calgary is seeping into here now.
 
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