The Jameson | 53.95m | 17s | Open Sky | Acton Ostry

What do you think of this project?

  • Total voters
    41
Good news. I still think Toronto and Vancouver developers are pulling out of Alberta due to liquidity issues, mostly.

This area, and Edmonton's current market isn't the reason behind the failure to build this.

Autograph or MacLab are probably the two most equipped to take this on asap. As much as I like Westrich, I think they probably have enough going on right now.
 
The problem with selling a site with an open pit and expiring shoring is the cost can be a killer if they need to do shoring repairs, also they are now limited to what they can do based off the shoring designs. Not an easy recovery.

Also... It was pretty obvious this site would eventually go up for sale
 
Vacs said:
The problem with selling a site with an open pit and expiring shoring is the cost can be a killer if they need to do shoring repairs, also they are now limited to what they can do based off the shoring designs. Not an easy recovery.

Also... It was pretty obvious this site would eventually go up for sale
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It would be nice if Coun. Salvador's successful derelict housing policy charging property owners an increased tax rate would apply in this situation.
 
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Barnaby said:
Good news. I still think Toronto and Vancouver developers are pulling out of Alberta due to liquidity issues, mostly.

This area, and Edmonton's current market isn't the reason behind the failure to build this.

Autograph or MacLab are probably the two most equipped to take this on asap. As much as I like Westrich, I think they probably have enough going on right now.
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Not entirely true. We are seeing a lot more interest in Vancouver/Toronto-based developers in Alberta right now as conditions in those respective markets remain tough. Institutional owners recycle through their assets constantly for the most part.

With this site there are many developers that would be interested in it for many reasons.
 
cmd uw said:
Not entirely true. We are seeing a lot more interest in Vancouver/Toronto-based developers in Alberta right now as conditions in those respective markets remain tough. Institutional owners recycle through their assets constantly for the most part.

With this site there are many developers that would be interested in it for many reasons.
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Happy to hear. I'm sure the list of stable developers is smaller in these cities than it was 3/4 years ago.

It's interesting to me that the future of Edmonton and Calgary being more predictable could be a reason to be attracted to these markets. You won't see massive land value gains, but moderate-low rental growth is very likely. I know a few people working entry level jobs, while being able to comfortably get by in brand new apartments (with roommates), and no car (I think that's the key). In my opinion, Alberta should try to pull the youth from Eastern Provinces via housing affordability.

This, opposed to the strong possibility of rent and land value decreases in Vancouver and Toronto, the former being the worst of the two markets in my opinion.
 
cmd uw said:
Not entirely true. We are seeing a lot more interest in Vancouver/Toronto-based developers in Alberta right now as conditions in those respective markets remain tough. Institutional owners recycle through their assets constantly for the most part.

With this site there are many developers that would be interested in it for many reasons.
Click to expand...
If you had to split up their Alberta interest between Calgary and Edmonton, what would you think that split would look like? 50/50? 75/25?
 
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