A weird thought I have been having is the legacy Qualico will leave on Edmonton’s downtown. I think in a few decades, Station Lands will be recognized as one of the most pivotal initiatives for downtown and its transformation, perhaps even beyond the ICE District.
The fact they built the first office high rise tower in over 20 years in Edmonton was impressive enough, but to build the project with such long development timelines and so much forethought to building out a larger community is brilliant. I don’t see many other developers around here able to put something like this together—but I suppose few developers are institutions like Qualico with the means to pull this off.
Using low density development profit and putting it towards the more expensive high density infill development is a good business model (if you are committed to both forms of development, that is).Very few companies have the financial capacity of Qualico or the patient capital to do something like this. Not a criticism of other developers in town but more a statement on how strong Qualico's overall balance sheet truly is.