Edmonton Real Estate Market

[IanO]

The Edmonton apartment market​

In Edmonton, Urban Analytics is tracking 201 new purpose-built rental projects with 16,167 units, of which 2,478 units are available. According to the CMHC, the rental vacancy rate was 7.2 per cent in 2020, up from 4.9 per cent in 2019.

Research indicates there are 67 projects being contemplated in Edmonton consisting of 14,259 units, with 25 projects under construction comprising 4,328 units.

In a panel discussion at the conference, Samuel Dean, senior vice-president, capital markets, multifamily for JLL, said lower demand and higher supply has driven the climb in the rental vacancy rate in Edmonton.

“I think we’re starved for human interaction. We’re going to see a return to the core and a push to work/live,” he said.

Western Canada apartment market poised for growth

The apartment sector in Western Canada is poised to grow this year with several key demographic fundamentals driving the market and industry executives expecting a new influx of people into big-city cores. At the virtual Western Canada Apartment Investment Conference

renx.ca

 

[Avenuer]

Whoever moves into the Molson Brewery will have a very cool space:

 

[IanO]

At one point it was to have been a Steam Whistle 'brewery'/tasting room and restaurant like in other cities.

I had heard of a restaurant going in about a year ago, but WTFK now.

 

[jason403]

Pretty amazing how slow high rise construction currently is. The only projects with finished heights over 8 stories that are currently escalating in height are Holyrood Gardens Redevelopment, CNIB Building, The View, Glenora Park, and I guess Capital Care Norwood if you want to include that too. All of these should be topped out between June - September. The thing is that there are no excavations currently underway to replace these. Will be interesting to see if a bunch get going later in the year, or construction will come to a halt for a couple years,

 

[IanO]

Not so much halt as less visible.

 

[IanO]

Key highlights from the latest release

Variables impacting the housing market will gradually return to pre-COVID levels over the 2021 to 2023 period.

The level of existing home sales and price growth are forecast to moderate from unsustainable 2020 levels but will remain elevated.

The pace of sales is expected to moderate from recent highs. Slower sales growth will help moderate the pace of price growth.

Rental demand will recover as immigration recovers, but vacancy rates will likely remain elevated.

Housing starts will stabilize at levels consistent with household formation by the end of 2023.

The precise timing and speed of the economic recovery in major markets is highly uncertain and outlooks remain subject to significant risks.

Housing Market Outlook

This publication provides the data needed to anticipate emerging trends in Canada's housing markets — learn more.

www.cmhc-schl.gc.ca

 

[IanO]

Reference ID:	Job No 396830137-002
Description:	To Change the Use from a Childcare Service to a Brewery,Winery and Distillery and Restaurant
Location:	6545 - 99 STREET NW Plan 1198KS Blk 29 Lot 1
Applicant:	AVISON YOUNG REAL ESTATE
Status:	Intake - Payment and More Info Requested
Create Date:	5/20/2021 3:45:43 PM
Neighbourhood:	HAZELDEAN
Class of Permit:	Class B

 

[Avenuer]

Reference ID:	Job No 396830137-002
Description:	To Change the Use from a Childcare Service to a Brewery,Winery and Distillery and Restaurant
Location:	6545 - 99 STREET NW Plan 1198KS Blk 29 Lot 1
Applicant:	AVISON YOUNG REAL ESTATE
Status:	Intake - Payment and More Info Requested
Create Date:	5/20/2021 3:45:43 PM
Neighbourhood:	HAZELDEAN
Class of Permit:	Class B

This is going beside an existing daycare so hopefully that doesn't cause much of a fuss.

 

[Platinum107]

Reference ID:	Job No 396830137-002
Description:	To Change the Use from a Childcare Service to a Brewery,Winery and Distillery and Restaurant
Location:	6545 - 99 STREET NW Plan 1198KS Blk 29 Lot 1
Applicant:	AVISON YOUNG REAL ESTATE
Status:	Intake - Payment and More Info Requested
Create Date:	5/20/2021 3:45:43 PM
Neighbourhood:	HAZELDEAN
Class of Permit:	Class B

Interesting change of use lmao

 

[_urbanite]

This is going beside an existing daycare so hopefully that doesn't cause much of a fuss.

Drop the kids off at day care, walk next door and step in for a beer or glass of wine right after

 

[IanO]

Cameron Martin
Senior Leasing Manager at Epic Investment Services


Epic Investment Services is excited to announce that King & Company Chartered Accountants have secured space (a bit over 3000 sqft) at 103 Street Centre. We look forward to having them join us in the building!

*moving from Energy Square (have to assume a resi-repurpose or full Reno is coming for that building).

 

[northlands]

I'll be honest, I didn't even think there was anyone left in Energy Square.

 

[IanO]

A few folks left.

Last one out!

 

[Stevey_G]

A few folks left.

Last one out!

What's energy square like on the inside? I love the gold windows but I have to imagine it makes for a very tinted environment.

 

[IanO]

A few on this forum worked there for more than a few years and so I will defer to them, but my visits were pleasant.