The Vermillion | ?m | 6s | Red Leaf | Brian Allsopp

[Mattyeg]

I don’t remember, but didn’t they buy it for 5? And wasn’t it already a shell of a building at that point. I could be way off here though...

 

[soupcrate]

$346k/door is stupid money for that location and product.

Agreed, but it's all supply and demand. We really need to liberalize our zoning laws + building codes if we ever want to make a dent in castle affordability. Look at what you can get for 11 million in France!

 

[David A]

$346k/door is stupid money for that location and product.

Its only stupid, if the seller can't sell it. The building is new and the location is fairly good. We are so used to a depressed real estate market here over the last decade we think that is normal.

In many other big cities that amount probably wouldn't get you 30 year small old one bedroom condo in a similar location close to downtown.

 

[EtoV]

Agreed, but it's all supply and demand. We really need to liberalize our zoning laws + building codes if we ever want to make a dent in castle affordability. Look at what you can get for 11 million in France!
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Off topic, but from what I understand, the reason castles in places like France and Scotland are (relatively) cheap is due to the high upkeep costs, and the large amount of upgrades usually needed to make them liveable. They're extremely hard to heat/cool, they probably don't have running water in most of the building, retrofitting electrical can be difficult, and they're not exactly watertight

 

[Abba]

$346k/door is stupid money for that location and product.

This one is the very definition of lipstick on a pig...

 

[occidentalcapital]

I see it as a vote of confidence in Edmonton's economy...

Hoping developers get the $$ message loud and clear - build build build!