Stadium Yards | ?m | 6s | Rohit Communities

[JNO1]

This was taken a couple weeks ago. Nothing happening at that time.

 

[IanO]

This phase is needed to really tie the project into the neighbourhood.

 

[Oilers99]

we'll see how the sales process goes on phase 1 and with interest rates rising, many pro formas are not working esp on wood frame.

 

[roe_]

we'll see how the sales process goes on phase 1 and with interest rates rising, many pro formas are not working esp on wood frame.

Interesting. What is the reason for this? Sales for wood framed condos are tougher because of interest rates? Movement to concrete buildings or just don't buy?

 

[IanO]

Construction financing/lending in this case.

But on the whole rising rates pushes people out of the market, pauses decisions or changes product type/size/location for some.

 

[ChazYEG]

Interesting. What is the reason for this? Sales for wood framed condos are tougher because of interest rates? Movement to concrete buildings or just don't buy?

There's a relatively high risk perception pertaining the timber supply chain and financing for woodframe buildings is becoming harder to get with decent rates because of this.

Also, as Ian mentioned, higher rates affect the buyer side in several ways.

 

[IanO]

Lumber pricing has dropped quite a bit and supply seems to be back in balance from my recent discussions.

 

[quit]

There's a relatively high risk perception pertaining the timber supply chain and financing for woodframe buildings is becoming harder to get with decent rates because of this.

Also, as Ian mentioned, higher rates affect the buyer side in several ways.

Yeah, there are definitely still supply chain issues. Just on my street, there are several infills with basements to grade waiting on floor joists. Been in that state for a couple months.

 

[Avenuer]

Construction financing/lending in this case.

But on the whole rising rates pushes people out of the market, pauses decisions or changes product type/size/location for some.

Considering these are rentals, I wonder if rental demand will be higher now that home purchasing is more expensive with the interest rate increases. More rental demand may make Rohit move on this sooner , for example.

 

[IanO]

Yeah, there are definitely still supply chain issues. Just on my street, there are several infills with basements to grade waiting on floor joists. Been in that state for a couple months.

Less of a 'supply chain issue' than a demand, capacity, labour issue due to a lack of companies that provide joists.

 

[KreationYEG]

 

[IanO]

Best mid-rise in the city.

Also, Rohit needs to be careful as we have a bet that will cost him a lot of he ever builds 'Downtown'.

 

[Avenuer]

Views from the buildings:

 

[IanO]

The original plans had retail along that inner road as well as at the corner for a little mini super tiny 'high street'.

 

[Avenuer]

The original plans had retail along that inner road as well as at the corner for a little mini super tiny 'high street'.

Yes, and I believe Rohit anticipates at least one other separate commercial building within their north parcel adajcent to the LRT station.