IanO
Senior Member
Cory WosnackCory Wosnack• 1st• 1stPrincipal & Managing Director at Avison Young Commercial Real EstatePrincipal & Managing Director at Avison Young Commercial Real Estate
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Some might feel converting buildings is a rare occurrence in our market. In reality, that’s far from the case. There is a long list of buildings in downtown Edmonton that were converted to residential over the past two decades.
To unlock this opportunity, several factors need to occur simultaneously such as low office demand, high vacancy, low cost of acquisition, strong demand for new residential and mostly vacant buildings that have the basic structural components to lend itself to another use.
A residential strategy is one of the best ways to make downtowns feel safer and boost its micro economy.
2m • 2m •
Some might feel converting buildings is a rare occurrence in our market. In reality, that’s far from the case. There is a long list of buildings in downtown Edmonton that were converted to residential over the past two decades.
To unlock this opportunity, several factors need to occur simultaneously such as low office demand, high vacancy, low cost of acquisition, strong demand for new residential and mostly vacant buildings that have the basic structural components to lend itself to another use.
A residential strategy is one of the best ways to make downtowns feel safer and boost its micro economy.
