IanO
Senior Member
It's not a knock, it is a comparison and the sooner that Edmonton(Ians) recognize that it is ok to be compared to other markets, especially Calgary, to underpin how much work Edmonton has to do, the better.
|
|
|
Edmonton Real Estate Market
- Thread starter Daveography
- Start date
IanO
Senior Member
IanO
Senior Member
Let's start with National media.
I've see 2 or 3 national articles on Calgary's exploding real estate market, maybe 1 or 2 on Edmonton being affordable... very different narratives and perspectives.
Today alone I've seen a report on National CBC and CTV on Calgary 'bucking the national trend', but nothing about Edmonton.
This has always been an issue for Edmonton and is not about 'being Canada's best kept secret' BS, but rather that it needs to get out there and in front of more potential migrants, investors and decision makers.
IanO
Senior Member
Good to see. Now how about those 'derelict' surface parking lots...
---
Edmonton approves new tax subclass for derelict properties
October 4, 2023
City Council approved a new tax subclass for derelict residential properties in mature areas today. Edmonton is the first city in Canada to make a subclass specifically for derelict properties, as part of a larger effort to combat problem properties and encourage community vibrancy.
Starting in 2024, the new derelict tax subclass can be applied to residential properties in mature neighbourhoods that show serious signs of neglect, are dilapidated, are falling into significant disrepair or are unlivable. The subclass will allow the City to charge a higher tax rate to owners of properties in these neighbourhoods that are assessed as derelict.
The City will notify an estimated 300 affected owners about the potential of their property being assessed as derelict in a letter this fall. All property assessments will be confirmed in January 2024 when assessment notices are sent in the mail to over 400,000 Edmonton property owners.
“The derelict tax subclass is a new tool in the City’s toolbox for addressing the harmful impact that derelict and problem residential properties can have,” said Cate Watt, Branch Manager, Assessment and Taxation. “Managing derelict properties often comes with additional costs to the City and a higher tax rate will help to cover those costs while encouraging property owners to clean up derelict houses. We hope this will play a role in improving the vibrancy of mature neighbourhoods in the long run.”
In an independent case study from 2017-2020, a sample of 31 problem properties created an estimated $1.3 million in City costs for bylaw inspections and enforcement, fire inspections and suppression, safety codes and development compliance inspections, and police inspections and responses. Several of these properties were also derelict and contributed significantly to those costs.
Derelict and problem residential properties are defined differently. For a property to be considered derelict for tax purposes, the City must assess the physical condition of the home on the property, looking for buildings that are deserted, boarded up, deemed unfit for habitation, or abandoned partway through the process of construction or demolition. City property assessors cannot base their assessment on any potential social or safety issues connected to a property, such as being a fire or public health risk, or being a location of repeated criminal activity. Problem properties are defined by those issues. This means that not all problem properties will be considered derelict and vice versa.
The City’s Problem Property Initiative, which co-ordinates the efforts of multiple City departments, the Edmonton Police Service, Alberta Health Services and the Government of Alberta, will continue to lead the effort to address problem properties as a whole.
Edmontonians who are concerned about problem properties can notify the City by calling 311 or using the confidential online Report a Problem Property form. Minor nuisance complaints about concerns like long grass, graffiti or furniture left on front lawns, can also be directed to 311.
For more information:
edmonton.ca/derelictsubclass
edmonton.ca/problemproperties
Media contact:
Lindsay Yarmon
Senior Communications Advisor
Financial and Corporate Services
780-977-8293
---
Edmonton approves new tax subclass for derelict properties
October 4, 2023
City Council approved a new tax subclass for derelict residential properties in mature areas today. Edmonton is the first city in Canada to make a subclass specifically for derelict properties, as part of a larger effort to combat problem properties and encourage community vibrancy.
Starting in 2024, the new derelict tax subclass can be applied to residential properties in mature neighbourhoods that show serious signs of neglect, are dilapidated, are falling into significant disrepair or are unlivable. The subclass will allow the City to charge a higher tax rate to owners of properties in these neighbourhoods that are assessed as derelict.
The City will notify an estimated 300 affected owners about the potential of their property being assessed as derelict in a letter this fall. All property assessments will be confirmed in January 2024 when assessment notices are sent in the mail to over 400,000 Edmonton property owners.
“The derelict tax subclass is a new tool in the City’s toolbox for addressing the harmful impact that derelict and problem residential properties can have,” said Cate Watt, Branch Manager, Assessment and Taxation. “Managing derelict properties often comes with additional costs to the City and a higher tax rate will help to cover those costs while encouraging property owners to clean up derelict houses. We hope this will play a role in improving the vibrancy of mature neighbourhoods in the long run.”
In an independent case study from 2017-2020, a sample of 31 problem properties created an estimated $1.3 million in City costs for bylaw inspections and enforcement, fire inspections and suppression, safety codes and development compliance inspections, and police inspections and responses. Several of these properties were also derelict and contributed significantly to those costs.
Derelict and problem residential properties are defined differently. For a property to be considered derelict for tax purposes, the City must assess the physical condition of the home on the property, looking for buildings that are deserted, boarded up, deemed unfit for habitation, or abandoned partway through the process of construction or demolition. City property assessors cannot base their assessment on any potential social or safety issues connected to a property, such as being a fire or public health risk, or being a location of repeated criminal activity. Problem properties are defined by those issues. This means that not all problem properties will be considered derelict and vice versa.
The City’s Problem Property Initiative, which co-ordinates the efforts of multiple City departments, the Edmonton Police Service, Alberta Health Services and the Government of Alberta, will continue to lead the effort to address problem properties as a whole.
Edmontonians who are concerned about problem properties can notify the City by calling 311 or using the confidential online Report a Problem Property form. Minor nuisance complaints about concerns like long grass, graffiti or furniture left on front lawns, can also be directed to 311.
For more information:
edmonton.ca/derelictsubclass
edmonton.ca/problemproperties
Media contact:
Lindsay Yarmon
Senior Communications Advisor
Financial and Corporate Services
780-977-8293
northlands
Senior Member
^ Procura taking it on the chin with their office portfolio quarter. 69k of office space between WSP and Intact... who is even left in Intact, aside from Intact?
IanO
Senior Member
Munanyo
Active Member
Yeah I will say with the amount of insane media coverage Alberta and Calgary have been getting lately, its been crickets in Edmonton. And I've said this before - I'm perfectly happy with the market remaining "healthy" but not out of control here. It allows middle class folks like myself with a realistic shot of owning a place that isn't an absolute dump.
I think what this does highlight though is that Calgary is a much more attractive option for people moving to Alberta, despite the looming housing crisis that's starting to grip Calgary and the widening affordability gap developing between the two cities. And for all the naysayers that might take offence to this, at the end of the day for most people coming to Alberta, Calgary is just a much more attractive option than Edmonton at the moment. A huge part of that is lifestyle and perception related. I've met several people that came to Edmonton for work related purposes and as soon as they got a chance, they bolted to Calgary due to having a better "city life" and proximity to the mountains. I'll also be honest, as someone who loves a healthy balance between city life and the outdoors, Edmonton is inferior to both Vancouver and Calgary in its offerings.
In a lot of ways, Edmonton is a "fallback" option for many and not the primary destination or end goal for new grads, young families or people very career oriented. I wish that would change.
I think what this does highlight though is that Calgary is a much more attractive option for people moving to Alberta, despite the looming housing crisis that's starting to grip Calgary and the widening affordability gap developing between the two cities. And for all the naysayers that might take offence to this, at the end of the day for most people coming to Alberta, Calgary is just a much more attractive option than Edmonton at the moment. A huge part of that is lifestyle and perception related. I've met several people that came to Edmonton for work related purposes and as soon as they got a chance, they bolted to Calgary due to having a better "city life" and proximity to the mountains. I'll also be honest, as someone who loves a healthy balance between city life and the outdoors, Edmonton is inferior to both Vancouver and Calgary in its offerings.
In a lot of ways, Edmonton is a "fallback" option for many and not the primary destination or end goal for new grads, young families or people very career oriented. I wish that would change.
occidentalcapital
Senior Member
I really don't agree with the above. On every metric Edmonton is a very commercial, business-oriented city, including GDP, private sector job growth in professional services, tech, AI, housing starts, industrial absorption, road infrastructure, industrial heartland, retail mecca. Etc. The problem is interesting because it is one almost entirely of perception and self image. And marketing.
occidentalcapital
Senior Member
Fix Edmonton's marketing and you fix 90% of the issue... at that point the remaining 10% will easily follow.
CaptainBL
Active Member
Was in Jasper a little back. At the Fairmont I was talking to a server who was working in Jasper for the summer as she was from out in Ontario. She explained how jealous she was of us Edmontonians being so close to the mountains we could come out for day trips.
This notion that Edmonton isnt close to the mountains or isnt as close as Calgary to the mountains is BS perpetuated by....Calgary sucking its own hose. You spread the word more and better that Edmonton is also close to the mountains and that you can visit and do day trips and hike and kayak and ski and golf if that is what your heart desires AND it is more affordable then there it is.
But we are allergic to those types of uses of a megaphone.
Last edited:
Kosy123
Active Member
Complete agreement with you here on this one! I've done conversations with some people outside of Alberta and I hammer that point home.
Kosy123
Active Member
It's insane how little known Edmonton is and it's something that we can fix. I had conversations recently in Vancouver with servers, a new friend in an airport and a lot of them just don't know anything about Edmonton besides
- Cold
- North
- Oilers
They don't know we're a city of a million people or a train system or anything. Hell, some of them think we're some yokel hick village. They get surprised when I tell them that we have a mayor of South Asian descent, half the city proper are visible minorities. I had someone at work who moved from Ontario and was astounded to see how diverse the city is.
It's a pretty good opportunity in some respects because we're a blank canvas that we can play around with (Winter City, Festival City, Harbin of the West, idk I'm making stuff up here). We're the city of "oh wow what a pleasant surprise". We self-deprecate too much. We just gotta get our name out there. Have an ad campaign like "Alberta might be calling, but Edmonton makes you feel at home".
TAS
Senior Member
Perhaps a fallback option, I don't know, but these stats clearly show when people do move here, they stay the longest of any Canadian city even though your personal experience is that people "bolt" Edmonton for Calgary as soon as they get the chance.
Edmonton needs to tell this story more and create a narrative around it.
Last edited:
Tbone84
New Member
northlands
Senior Member
A wise man once said that Edmonton is both one of the hardest places to recruit talent to, but also one of the hardest to recruit talent out of*
*because they’re so underwater on their condo they bought seven years ago they can’t afford to move
*because they’re so underwater on their condo they bought seven years ago they can’t afford to move