bodsbods9090
Active Member
WAYYYY off course!
The Shift | 113.08m | 38s | Edgar | MCM Partnership
- Thread starter Daveography
- Start date
Platinum107
Senior Member
Isn;t that a Salt Lake City TRAX lrv? Still an interesting choice either way ig
This area needed some density and cool buildings yesterday, this project better happen soon especially with the Warehouse Park plans moving forward!
MacLac
Senior Member
IanO
Superstar
Happy to see vested folks sharing the reality of the situation and putting pressure on Council and other stakeholders.
Munanyo
Active Member
Yikes, very blunt wording coming from Edgar.
I guess this means we cannot expect any movement on the Shift for quite awhile.
I guess this means we cannot expect any movement on the Shift for quite awhile.
Kosy123
Active Member
Probably not until more details come out about grant funding for downtown projects, which I'm somewhat confident will come tied in with the Housing Accelerator Fund cash. The city can kill two birds with one stone with that kind of policy (increase housing stock and contribute to downtown while not using CRL funding or city funding in general), and Fraser mentioning that office to residential conversions are in the conversation means that downtown is on the radar for these types of things.
TAS
Senior Member
Again, Edmonton is still waiting on that housing announcement from the feds and that may determine likelihood of any additional incentives.
As people have noted, if interest rates go down that helps and there is still the no GST incentive rental builders have access to as well. While no one thing may be the sole catalyst, a few things together can make a difference along with a $40 million+ investment in a park in this project's backyard as well as a massive public transportation project at their doorste in the new lrt..
Of course corporations don't always like to identify all the things being done to boost their fortunes, but many good things are happening.
As people have noted, if interest rates go down that helps and there is still the no GST incentive rental builders have access to as well. While no one thing may be the sole catalyst, a few things together can make a difference along with a $40 million+ investment in a park in this project's backyard as well as a massive public transportation project at their doorste in the new lrt..
Of course corporations don't always like to identify all the things being done to boost their fortunes, but many good things are happening.
crisp
Active Member
Yup, unfortunately council listens more to SJW's than people with money and a vision.
MacLac
Senior Member
TAS
Senior Member
Autograph says it needs incentives from the city but in terms of making this project succeed, I'd say two pretty significant incentives are the new park and the new lrt in terms of making this project attractive to renters.
TAS
Senior Member
Mercury received an incentive from the city and it was financed when interest rates were lower, and now Autograph is going ahead with Mercury II with higher financing rates and no city incentive.
What's the incentive to build it? It's a desirable area.
The city has made significant financial investments to make The Shift location a more desirable area.
What's the incentive to build it? It's a desirable area.
The city has made significant financial investments to make The Shift location a more desirable area.
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IanO
Superstar
Those are all for public good and while they impact the project and its desirability, it has little to do with the cost of construction, rental rates or state of the condo market due to perception.
Greenspace
Senior Member
There is a financial incentive built into the CRL and catalyst in the Downtown Plan. The issue is CRL is pretty much tapped out right now, so admin/Council looking for ways to implement it. One way would be offsetting some of the planned infrastructure costs with money from the province. There is some lobbying efforts to try to make that happen.
While vibrancy/perception is getting better imo, it's no where near where we need to be. And the park/LRT construction won't be done for several years, so you'd kinda be building in the middle of nowhere. There is a risk to that as well. There is a reason most of our residential projects Downtown in the last 15 years were built along 104 Street.
While vibrancy/perception is getting better imo, it's no where near where we need to be. And the park/LRT construction won't be done for several years, so you'd kinda be building in the middle of nowhere. There is a risk to that as well. There is a reason most of our residential projects Downtown in the last 15 years were built along 104 Street.
David A
Senior Member
Lets not forget the existing capital line LRT is only about a block and a half away (perhaps somewhat out of sight out of mind, but it is still there). So this is not a bad location at all, even before the new LRT line which of course will be even closer.
IanO
Superstar
Things are improving and many folks are working hard to ensure that (thanks GS!), but the reality is that the condo market basically does not exist and overall demand for Downtown housing is lacklustre.
This MUST change if Edmonton wants to see more investment and that has a TON to do with safety, how well kept it is, perception and overall crime/disorder.
This MUST change if Edmonton wants to see more investment and that has a TON to do with safety, how well kept it is, perception and overall crime/disorder.