General Infill Discussion

[northlands]

Wicked walkup infill across from the U of A in Windsor Park right along 116th. Looks like an 6 plex I think.

11603 89 Ave NW

 

[northlands]

Another 4plex (plus secondary suite) infill in Glenora, just a half block from Stony Plain Road.

13802 103 Ave NW

 

[TAS]

Another 4plex (plus secondary suite) infill in Glenora, just a half block from Stony Plain Road.

13802 103 Ave NW

View attachment 582132View attachment 582131
View attachment 582133

 

[Barnaby]

An 8-plex going up in Glenora is funny to me. It will invite so many poors that are willing to spend $2,000+ in rent!

 

[thommyjo]

An 8-plex going up in Glenora is funny to me. It will invite so many poors that are willing to spend $2,000+ in rent!

2000? At over 750k per unit at the above price, these need to be renting at 3k!

 

[Barnaby]

2000? At over 750k per unit at the above price, these need to be renting at 3k!

This building has 8 total units. The estimated average rent per unit comes out to just over $2,000 a month. The basement suites will definitely be in the $1,200-1,500 range. Obviously main floor units will be closer to $2,500-2,800.

 

[edm13]

This building has 8 total units. The estimated average rent per unit comes out to just over $2,000 a month. The basement suites will definitely be in the $1,200-1,500 range. Obviously main floor units will be closer to $2,500-2,800.

Yeah you need $4k per unit for this to even start to maybe make sense

 

[Barnaby]

Yeah you need $4k per unit for this to even start to maybe make sense

15.9% gross return if the buyer pays cash and estimated rent per unit of $2,083 is hit.

 

[edm13]

15.9% gross return if the buyer pays cash and estimated rent per unit of $2,083 is hit.

My bad, I read your last one wrong. I meant 4k per unit as in up and down, so $16k for the building. I still don’t see your math though. My quick thoughts were 4,000 would be 48,000 for the year. Knock off 20% as a quick proxy for property tax, insurance, maintenance, vacancy. Then divide that by 775k, and you get a cap rate of about 5%, which is not even that great. Did I miss something?

 

[JNO1]

 

[fromyeg]

Priority Growth Area Rezoning | City of Edmonton

Priority Growth Area Rezoning will target sites within priority nodes and corridors to incentivize demand and investment in these important areas.

www.edmonton.ca

I saw a sign advertising this today.

The first I’d heard of Priority Growth Area Rezoning.

Three areas of focus: University/Garneau, Wîhkwêntôwin/124th and Stony Plain Road.

Essentially the City proactively rezoning properties to encourage development.

There is opportunity for engagement if anyone is interested!

 

[BrettB]

Lots of interesting Ifill coming to public hearing in a little more than a week: https://pub-edmonton.escribemeetings.com/Meeting.aspx?Id=d1ae74c9-8f12-41dc-b508-8c869b1a24ca

Of note
1. wider range of uses for the Brighton Block (including, shudder, self storage)
2. 109St/Jasper upzoning
3. New development 109 St/70 Ave
4. New 6-storey development near Bonnie Doon stop

 

[Barnaby]

Brighton Block would have made for great loft style houses. Kinda a shame what was done with an otherwise amazing restoration.

 

[thommyjo]

Lots of interesting Ifill coming to public hearing in a little more than a week: https://pub-edmonton.escribemeetings.com/Meeting.aspx?Id=d1ae74c9-8f12-41dc-b508-8c869b1a24ca

Of note
1. wider range of uses for the Brighton Block (including, shudder, self storage)
2. 109St/Jasper upzoning
3. New development 109 St/70 Ave
4. New 6-storey development near Bonnie Doon stop

An a few 3 story walkups in Wihkwentowin rezoned for 8 stories! That’d be great to see.

The 109st/jasper one would be so nice to see done really well. Would help one of our main entrances/exits feel more finished.

 

[fromyeg]

6 storey potentially going up in King Edward near Bonnie Doon Mall.

Valley Line encouraging some TOD.