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Riley's 108 Street Redevelopment | 20.2m | 6s | J+S Architect

For urban townhouse type of units given their cost to buy or rent versus other options is what I was referring to.

But yes, the overall market is improving and supply dwindling.
One of the reasons they are so expensive to rent is the very limited supply of these. There's virtually no competition and landlords can charge whatever the hell they want. It's also a somewhat new product to Edmonton.
 
I also think we need some different types of retail, which of course is easier said than done with city centre mall still floundering. But I feel like in other cities when they land some of those bigger tenants, that can help, vs another 6 small CRUs for food and beverage, nails, cannibas.

The full floor grocery stores are the best example, thankfully we have the Safeway in Oliver modeling that, but full size sportschecks, home hardwares, libraries, schools, churches, costcos, large format gyms, etc. these all help a lot to fill a lot of commercial space, draw good foot traffic, and give variety vs just more restaurants.

Henry singer & Helm somewhat hit this too thankfully.

Happy to see this happening for Citizen.
 
Objectively not true.
The highest year-over-year increase in residential lease rates out of all major Canadian cities was Edmonton (27% in Feb-24 over Feb-23), and expected to increase even further by the peak of leasing late in the summer.
What we have is very limited quality rental stock, and a lot of people are not being able to rent properties because we have a lot of apartments that lack stuff most consider essential, like dishwashers, in suite laundry, etc, but they're trying to price gauge and drive it closer to newer builds.
I think you're dead on the money for this one. Virtually no multifamily was built here from the mid-late 80s until the early 00s, and majority built from then until only a few years ago were all condos. So the purpose built rental market has been underbuilt for awhile yet, I think buoyed largely by people unable to sell their condos and renting them out, plus the unbelievably amount of rental stock from the 60s/70s. The implication on the condo market for this should be interesting (here's hopin' for ya @Stevey_G )
 
I also think we need some different types of retail, which of course is easier said than done with city centre mall still floundering. But I feel like in other cities when they land some of those bigger tenants, that can help, vs another 6 small CRUs for food and beverage, nails, cannibas.

The full floor grocery stores are the best example, thankfully we have the Safeway in Oliver modeling that, but full size sportschecks, home hardwares, libraries, schools, churches, costcos, large format gyms, etc. these all help a lot to fill a lot of commercial space, draw good foot traffic, and give variety vs just more restaurants.

Henry singer & Helm somewhat hit this too thankfully.

Happy to see this happening for Citizen.
Exactly, we do really do not need more small food or beverage places, cannabis places but somewhere to buy clothes, shoes or footwear, hardware and small furniture. There are huge gaps in essential retail in the downtown core right now and this is an area that will have more residents living here in the near future. So this would actually be a good area for either retail or street level residential.
 
City Planning will have an eye to the future and look at the existing plans to see if they want the proponent to include retail. I think the Downtown Plan wants CRU's facing 102 Avenue, and after the long 102 Avenue closure discussion there will be a discussion about how to best activate that avenue. They can make a recommendation but not force the applicant if they comply with zoning. If it's a DC proposal (I haven't' see anything yet), then that's a decision for Council to make. You could also put in retail bay and use it as residential for near term, per some of the conversations Council has been having with other developers like Capital Centre.
 
One of the reasons they are so expensive to rent is the very limited supply of these. There's virtually no competition and landlords can charge whatever the hell they want. It's also a somewhat new product to Edmonton.

There's a reason for virtually no supply...

Many are $2500-3500 a month, which looks pretty hard to swallow versus a purchase or single family option.

But either way, bring more of them on as I love em.
 
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Yes should be at least 10 to 12 storeys, would have zero issue with this is it was three blocks West. At least it will help the Monaco buildings finally tie into the area.
 
I know we are still years away from this, but I do wonder when downtown will start to see CRU's get filled up by clothing retailers, grocery stores etc. vs. the usual stuff we get (i.e. Shoppers Drug Mart, cannabis shop, pharmacy).

I know the downtown resident population needs to reach a critical mass to have it make sense for other retailers to take a chance, but I do wonder, when all the current construction is done as well as the proposals that are about to begin do wrap up, whether we see someone unexpected bite the bullet and try to set up shop in the core.
 
I know we are still years away from this, but I do wonder when downtown will start to see CRU's get filled up by clothing retailers, grocery stores etc. vs. the usual stuff we get (i.e. Shoppers Drug Mart, cannabis shop, pharmacy).

I know the downtown resident population needs to reach a critical mass to have it make sense for other retailers to take a chance, but I do wonder, when all the current construction is done as well as the proposals that are about to begin do wrap up, whether we see someone unexpected bite the bullet and try to set up shop in the core.

Good question!
I read during the 10 days of the Stampede some businesses down there do a large percentage of most of their yearly business.

Even though downtown doesn't have the critical mass of residents, I also wonder when or if the large influx of people that come for Oilers games or any of the other large dt events throughout the year is enough to make a difference for a retail business to say this is a good location.
 
^I suspect Rogers Place is influential for food/beverage investors, but far less so for other types of retail. Jerseys aside, the average arena-goer is not going to buy clothing or electronics or flowers on their way to (or from) the hockey game or concert.
 
Reference ID:Job No 500496662-002
Description:Construction of (a) new building(s), Demolition
Location:10164 - 108 STREET NW
Plan B2 Blk 8 Lot 146
Applicant:J+S ARCHITECT
Status:Intake Review
Create Date:2024-02-09T17:25:58Z
Neighbourhood:DOWNTOWN

I hope construction is actually imminent here. Last thing we need is more fenced off empty lots
 

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