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Lotus Park | 20.2m | 6s | Westrich Pacific | J+S Architect
- Thread starter Avenuer
- Start date
Greenspace
Senior Member
That is so fast!
Also interesting random existing retaining wall I assume will be taken out later.
Also interesting random existing retaining wall I assume will be taken out later.
archited
Senior Member
cheap, cheap, cheap and the crowd keeps cheering!
Out of Towner
Active Member
Good sized house and double garage.
Glenco
Senior Member
Footings on the north end are very shallow no room for underground parking here.
Barnaby
Senior Member
Underground parking is a massive drag on the returns of market rate rentals. Is Westrich the first developer in Central Edmonton to have realized this?
MacLac
Senior Member
Are they building a lemonade stand? Or a $25M apartment building? Btw Ian, how come NONE of Westrich's projects have a "Dollar amount" listed in the AB Major Projects database?
northlands
Senior Member
Pinto with their Metro 78 project also has no u/g parking either.
Both projects will be great litmus tests for this style of development to hopefully show this working in both downtown and central southside.
David A
Senior Member
It is good to give people the choice and not just assume people will want parking everywhere. After all, this project is located within a block or so of two LRT lines.
IanO
Superstar
Bingo.
Barnaby
Senior Member
I walked by the project today. Basement level looks like it's exclusively for mechanical, storage, etc.
ZERO underground parking here, in my opinion.
ZERO underground parking here, in my opinion.
archited
Senior Member
I suspect (and time will tell) that it will lead to a significant amount of tenant turnover as individual fortunes change and they progress in a positive direction. Operational maintenance of properties will then run sky-high if that turns out to be true.
Barnaby
Senior Member
Two LRT stops on different lines, and countless major bus routes will exist with a 5 minute walk of the front door. Tenant turnover is already quite high in rentals (around 30%).
You and I see mostly eye to eye regarding the preference for concrete construction, but I can see why wood framed construction is the choice of you're going with no u/g parking. I really think this building will work out.
I hope Autograph provides a more upscale version of this near Alex Decoteau Stop. I do agree that atleast limited parking is needed once a certain price point is reached.
I'll also mention that the footings are far more substantial in person than the pictures indicate.
archited
Senior Member
^ Autograph is noted for engaging high-end architectural offices whereas others not so much. I have nothing against mid-rises if they are done with quality and strong design aesthetics in mind. We'll see how this works out with the Lily pads and the lotus ponds -- I am not hopeful!
Offworld
Active Member
I've seen brand new concrete high-rise buildings in another market with over 100% annual turnover, because of foreign short-term tenants that were only in town for ESL purposes.
Turnovers can be costly especially in older buildings, but when you have foreigners breaking 12-month leases in a new build you can build up quite a reserve from the deposits surrendered.
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