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Edmonton Real Estate Market

Honestly that piece does make sense, immigrants tend to move towards existing enclaves within the city. I can attest to that when myself and my parents moved to Millwoods years ago due to the existing ethnic community we were part of, and over to Ellerslie based on similar factors. It's genuinely a scary and anxious decision to move countries in this day and age, and having an ethnic community as a support was probably the biggest factor for us.

If suburbs (or the appeal of bedroom community suburbia) was the major factor for immigrant choice, then we'd see mass movement towards Sherwood Park, but that's not the case.

However, a significant chunk of people my age (low to mid 20's) that are children of immigrant families want to move out (and have moved) of the suburbs and closer to the core, based on our university experiences and frankly missing that sort of third place activity and community, and honestly not all of us want to live in SFH isolated from everyone by a 25-30 min drive. At least, within the group of people I know.

And I've known some recent immigrants to also move closer to the core, or at least within the Whitemud. Honestly, if more ethnic enclaves were located closer to the core, then we'd see a completely different story.
 
Oilers99 said:
good piece - though according to everyone on this forum the suburbs are part of the axis of evil.

also they did not interview a suburban developer for the article.
Click to expand...
That is a pretty simplistic way of referring to everyone that does not support further expansion of suburbs. I imagine most would argue that there is a lack of sustainability when it comes to further growth of suburbs in Edmonton.
 
On the contrary... the "connected City" envisions creating so-called "15-minute" cores in suburbs -- it leads to the very kind of ethnic enclaves envisioned in the article. It doesn't mean that downtown has no purpose -- major city-wide events (ICE District and the river valley parks system), financial centre, urban themes (Edmonton is working on that and is doing quite well with what has and is being planned), tourism centre and unique hospitality (hotels).
 
It's all well and good if the 15 minute City develops, but so far newer suburbs are far-far removed from this concept. It will be extremely difficult to create 15 minute communities in existing suburbs if we continue to expand the way we have been. Every dollar invested in greenfield development is a dollar that could have been focused on our existing communities and achieving the goals the City keeps insisting it wants to achieve.
 
National benchmarking study ranks Edmonton number one​

January 11, 2023

Edmonton received top marks in the Canadian Home Builders’ Association (CHBA) 2022 Municipal Benchmarking Study, which examines how local development processes, approvals and charges affect housing affordability and housing supply in major housing markets across the country. The report reads as a report card to show which municipal governments are leading, and Edmonton ranked number 1 in Canada, overall.

“I am not surprised by Edmonton’s ranking,” said Mayor Amarjeet Sohi. “Edmonton is a great place to live with an exceptional quality of life and we are committed to fostering a healthy and affordable housing market necessary to welcome young and highly skilled talent and for those already living in Edmonton.”

The report evaluated 21 municipalities across Canada in several areas that have direct links to issues related to housing supply and/or housing affordability, including:
  • Approval timelines
  • Charges and fees on new development
  • Planning approval processes and features

Edmonton ranked number one in planning features, sixth in approval timelines and sixth in charges and fees to capture a combined first place ranking. This represents an improvement from the 2020 study, in which Edmonton ranked second overall in Canada.

“The City of Edmonton has worked very hard in the past few years to streamline and improve our permit and license processes,“ said City Manager Andre Corbould. “These improvements save applicants $5.3 million and 67,600 days collectively each year. We know these improvements have contributed to our ranking and we continue to push for improvements that will help maintain Edmonton’s housing affordability.”

Edmonton continues to innovate in its approaches to reducing red tape and delivering better, more predictable service to customers, including investment in the online customer experience, process automation, and integration of artificial intelligence.

Intergovernmental and industry collaboration also played an important role in Edmonton’s number one ranking. The Study also highlighted municipalities who are taking innovative approaches to working with other levels of government or developers to set targets, standardize reporting or establish timelines.

“The growth and future success of Edmonton hinges on the continued successful collaboration and engagement between the real estate development industry and the City of Edmonton,” said Adil Kodian, Executive Vice President, Rohit Group of Companies, and a member of CHBA-Edmonton Region and UDI-Edmonton Metro. “We strongly support the leadership that the City of Edmonton has continued to demonstrate over the years when it comes to enabling housing options. We are committed to working together to ensure we maintain the current level of choice and affordability city-wide. Available and attainable housing is core to what makes Edmonton such a great city for Canadians to live and work in. Going forward, it’s critical that we continue to create a business and innovation-friendly environment that provides efficient timelines, focuses on smooth processes and limits additional costs for new homebuyers.”

Edmonton had an overall score of 91 per cent based on six overall themes: development guidance, development application tracking, e-submissions/e-payments, availability of planning documents, accountability and provincial direction. Edmonton was best in class in areas such as Electronic Submission and Payment Capabilities and Accountability. Edmonton’s typical approval timeline for development applications is less than half of what it is in either Vancouver or Toronto.​

For more information:
edmonton.ca/serviceimprovements
Cutting red tape on permits and licensing - video
why.edmonton.ca/affordable
Canadian Home Builders’ Association Release
Edmonton Fact Sheet

Media contact:
Courtney Bettin
Communications Advisor
Communications and Engagement
780-288-5922​
 
IanO said:
National benchmarking study ranks Edmonton number one​

January 11, 2023

Edmonton received top marks in the Canadian Home Builders’ Association (CHBA) 2022 Municipal Benchmarking Study, which examines how local development processes, approvals and charges affect housing affordability and housing supply in major housing markets across the country. The report reads as a report card to show which municipal governments are leading, and Edmonton ranked number 1 in Canada, overall.

“I am not surprised by Edmonton’s ranking,” said Mayor Amarjeet Sohi. “Edmonton is a great place to live with an exceptional quality of life and we are committed to fostering a healthy and affordable housing market necessary to welcome young and highly skilled talent and for those already living in Edmonton.”

The report evaluated 21 municipalities across Canada in several areas that have direct links to issues related to housing supply and/or housing affordability, including:
  • Approval timelines
  • Charges and fees on new development
  • Planning approval processes and features

Edmonton ranked number one in planning features, sixth in approval timelines and sixth in charges and fees to capture a combined first place ranking. This represents an improvement from the 2020 study, in which Edmonton ranked second overall in Canada.

“The City of Edmonton has worked very hard in the past few years to streamline and improve our permit and license processes,“ said City Manager Andre Corbould. “These improvements save applicants $5.3 million and 67,600 days collectively each year. We know these improvements have contributed to our ranking and we continue to push for improvements that will help maintain Edmonton’s housing affordability.”

Edmonton continues to innovate in its approaches to reducing red tape and delivering better, more predictable service to customers, including investment in the online customer experience, process automation, and integration of artificial intelligence.

Intergovernmental and industry collaboration also played an important role in Edmonton’s number one ranking. The Study also highlighted municipalities who are taking innovative approaches to working with other levels of government or developers to set targets, standardize reporting or establish timelines.

“The growth and future success of Edmonton hinges on the continued successful collaboration and engagement between the real estate development industry and the City of Edmonton,” said Adil Kodian, Executive Vice President, Rohit Group of Companies, and a member of CHBA-Edmonton Region and UDI-Edmonton Metro. “We strongly support the leadership that the City of Edmonton has continued to demonstrate over the years when it comes to enabling housing options. We are committed to working together to ensure we maintain the current level of choice and affordability city-wide. Available and attainable housing is core to what makes Edmonton such a great city for Canadians to live and work in. Going forward, it’s critical that we continue to create a business and innovation-friendly environment that provides efficient timelines, focuses on smooth processes and limits additional costs for new homebuyers.”

Edmonton had an overall score of 91 per cent based on six overall themes: development guidance, development application tracking, e-submissions/e-payments, availability of planning documents, accountability and provincial direction. Edmonton was best in class in areas such as Electronic Submission and Payment Capabilities and Accountability. Edmonton’s typical approval timeline for development applications is less than half of what it is in either Vancouver or Toronto.​

For more information:
edmonton.ca/serviceimprovements
Cutting red tape on permits and licensing - video
why.edmonton.ca/affordable
Canadian Home Builders’ Association Release
Edmonton Fact Sheet

Media contact:
Courtney Bettin
Communications Advisor
Communications and Engagement
780-288-5922​
Click to expand...

Wonder how/if the city will capitalize on this.

Here are full ratings- Edmonton clearly the best.

Screenshot_20230111-211244_Instagram.jpg
 
Screen Shot 2023-01-13 at 7.48.56 AM.png

New standard could help shift Edmonton’s growth pattern
By Mack Male

The city is developing a new measure called the substantial completion standard aimed at supporting the City Plan’s goal of encouraging a market shift from primarily greenfield development to infill. But representatives from the home building and development industries are concerned it could contribute to the affordability crisis in housing.

A policy in the City Plan (2.3.2.3) requires substantial completion of developing areas, defined as those within city limits but primarily outside Anthony Henday Drive, before authorizing the development of future growth areas, defined as land south of 41 Avenue SW.

On Jan. 17, city council’s urban planning committee will receive an update on the development of the substantial completion standard, a component of the Growth Management Framework that administration describes as “one tool to address phasing growth, financial sustainability, and meet planned infrastructure commitments.”


edmonton.taproot.news

New standard could help shift Edmonton's growth pattern

The city is developing a new measure called the substantial completion standard aimed at supporting the City Plan's goal of encouraging a market shift from primarily greenfield development to infill. But representatives from the home building and development industries are concerned it could...
edmonton.taproot.news edmonton.taproot.news
 
It will be interesting to see what happens with respect to housing prices between Edmonton and Calgary over the next few years. Edmonton council is restricting supply whereas Calgary is approving a number of previously rejected ASPs and NSPs. There could be a situation in which Edmonton house prices quickly rise and start to narrow the overall gap with Calgary. This would be problematic as wages and overall employment opportunities are higher in Calgary so it would further disadvantage Edmonton.
 
Oilers99 said:
It will be interesting to see what happens with respect to housing prices between Edmonton and Calgary over the next few years. Edmonton council is restricting supply whereas Calgary is approving a number of previously rejected ASPs and NSPs. There could be a situation in which Edmonton house prices quickly rise and start to narrow the overall gap with Calgary. This would be problematic as wages and overall employment opportunities are higher in Calgary so it would further disadvantage Edmonton.
Click to expand...
Higher prices could also drive some more development, especially higher density as valuations become more attractive.
 
^^That's if you assume that Edmonton doesn't have adequate land to develop. It may simply mean new development is concentrated in the many brownfield areas for a time. Imo Developers are attracted to greenfield not necessarily because its cheaper (although it can be), but because its easier.
 
I don't have much issue with this, Edmonton has (for the most part) developed in a way that doesn't skip over major swaths of land so I'm not sure if it has a massive effect on plans other than if say the north is slower to meet its "substantial completion" in turn holding up the south perhaps this could have a bit of a greenbelt effect whereby people move to Beaumont, Leduc, or Devon instead.

Regardless of which areas the new communities are building up within the city limits Edmonton has it's density requirements so no issue there. Looks like this doesn't apply to the industrial area along QEII which is good. Lastly, with the way things are growing right now that 1.5 million mark won't take long to reach.
 
BASE said:
I don't have much issue with this, Edmonton has (for the most part) developed in a way that doesn't skip over major swaths of land so I'm not sure if it has a massive effect on plans other than if say the north is slower to meet its "substantial completion" in turn holding up the south perhaps this could have a bit of a greenbelt effect whereby people move to Beaumont, Leduc, or Devon instead.

Regardless of which areas the new communities are building up within the city limits Edmonton has it's density requirements so no issue there. Looks like this doesn't apply to the industrial area along QEII which is good. Lastly, with the way things are growing right now that 1.5 million mark won't take long to reach.
Click to expand...

This is another point that is very important. people who want to live South aren't going to magically live in the NE in Horse Hills because the city wants to fill that up prior to approving more in the South.
 
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