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Edmonton Real Estate Market

Federal government announced today it's unlocking more of its surplus land to build housing, including affordable housing.

Calgary: 516 homes at Currie
Edmonton: 711 homes, at the Village at Griesbach, including 93 affordable homes

Federal government unlocking 6 surplus federal properties to build more than 2,800 new homes in Calgary, Edmonton, St. John's, and Ottawa

/CNW/ - Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, the Honourable Jean-Yves Duclos, Minister of Public Services...
www.newswire.ca www.newswire.ca
 
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TAS said:
Federal government announced today it's unlocking more of its surplus land to build housing, including affordable housing.

Calgary: 516 homes at Currie
Edmonton: 711 homes, at the Village at Griesbach, including 93 affordable homes

Federal government unlocking 6 surplus federal properties to build more than 2,800 new homes in Calgary, Edmonton, St. John's, and Ottawa

/CNW/ - Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, the Honourable Jean-Yves Duclos, Minister of Public Services...
www.newswire.ca www.newswire.ca
Click to expand...
Not sure why Ottawa gets 2X the # we do?
 
MacLac said:
www.westerninvestor.com

5 top towns for real estate investors in 2024

A year of investing pragmatically and strategically means turning from the flash to the proven in Western Investor’s annual pick of the best places to buy real estate in 2024
www.westerninvestor.com www.westerninvestor.com

We're #1, we're #1!!!
Click to expand...

Not sure this is a good thing or not.

Do we really want to see price escalation here like they're seeing in Calgary?
 
Edmonton has the luxury of space and supply, but continues to have issues with perception and desirability.
 
_urbanite said:
Not sure this is a good thing or not.

Do we really want to see price escalation here like they're seeing in Calgary?
Click to expand...
No we don't want that at all! Your typical YYC'er btw......

1699479588368.png
 
IanO said:
Edmonton has the luxury of space and supply, but continues to have issues with perception and desirability.
Click to expand...
A generation ago space and supply were not generally considered a luxury in most places - that is a perception I also have a real problem with.
 
For the #Edmonton Investment section of our annual BOMA Edmonton Brokers' Forum, Adam Kilburn, Senior Vice President & Edmonton Practice Lead at JLL, shared about the five following takeaways:

➡ Investment sales volume is down significantly.
➡ The most aggressive central bank policy in modern times to address persistent inflation has skyrocketed debt costs.
➡ Construction costs have risen significantly since 2020.
➡ Investors and tenants are flocking to newer generation assets.
➡ Capitalization Rates and Internal Rates of Return are expanding as investors seek "appropriate" risk adjusted returns.

www.linkedin.com

BOMA Edmonton | LinkedIn

BOMA Edmonton | 2,332 followers on LinkedIn. Perform better with BOMA. Our industry leadership and resources help our members reach their performance goals | Building Owners and Managers Association (BOMA) Edmonton is one of 120 influential BOMA commercial real estate associations around the...
www.linkedin.com www.linkedin.com
 
https://calgary.ctvnews.ca/feds-give-calgary-228m-for-housing-1.6644592

Calgary just got a $228 million injection from the HAF.

This part stands out:
In making the announcement Tuesday, Fraser said he expects 3,000 new units to be created by office space conversions in alignment with Calgary’s Downtown Strategy.
Click to expand...
I'm guessing when Edmonton gets our announcement, we have a similar condition as well for our downtown grant! No need to try and pry money off the CRL or add more expenses to our operating budget. Super excited to see what we get! Now that Calgary got $228 million, I hope we get $200 million upwards as well.
 
Toronto just got 1.2Billion for housing from the Feds.
https://toronto.ctvnews.ca/federal-...spur-rental-construction-in-toronto-1.6644852
The seven projects supported by the federal government’s announcement include:

  • 855 rental homes at 373 Front Street East, with an investment of $444 million;
  • 484 rental homes at 94 Eastdale Avenue, with an investment of $215 million;
  • 389 rental homes at 55 Broadway Avenue, with an investment of $165.4 million;
  • 390 rental homes at 325 Moriyama Drive, with an investment of $130 million;
  • 233 rental homes at 1555 Queen Street East, with an investment of $126 million;
  • 225 rental homes at 610 Martin Grove Road, with an investment of $93.7 million; and,
  • 68 rental homes at 650 Kingston Road, with an investment of $34.1 million.
I guess its coming, just a mater of time.
Fredericton got money today as well.

https://globalnews.ca/news/10090525/fredericton-rental-units-feds-loan/

23 million for 132 homes
 
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