Maclab Garneau | Laurent | Eleanor | 98.14m | 30s | Maclab Development

What do you think of this project?

  • Total voters
    47
Not everything needs to be concrete high-rise, even in more central areas, but it really comes down to where and what.

A six storey on the former BMO site, not reasonable or desirable (or rational given land economics), but the 108st site at 102ave as it transitions from 109st to say 105st is not the end of the world.

Edmonton needs density and those lots filled and so if those 6 storey are high quality and look the part, I am a bit less concerned.

The market fundamentals are extremely challenging for those doing concrete high-rise right now and so once again, expect more 6 storey.
 
IMG_6730.jpeg

IMG_6728.jpeg


🏙️
 
I know of a site that's ripe for this type... Maclab (unless something has changed) owns the lot west of Omega and could acquire the ones north potentially. This would be perfect with a corner CRU and townhouses fronting 99ave and up 106.

Screenshot 2024-07-23 at 6.22.19 PM.png
 
Little known fact: Circa 2007 I represented a well known local developer and contractor to put an offer on this site and were told it was 'not for sale'.
 
IanO said:
I know of a site that's ripe for this type... Maclab (unless something has changed) owns the lot west of Omega and could acquire the ones north potentially. This would be perfect with a corner CRU and townhouses fronting 99ave and up 106.

View attachment 582949
Click to expand...

I had no idea Maclab owned that lot. There's a strong argument to be made that after the Warehouse parks site (which of course, is finally seeing development) this area is the biggest eyesore in the core (yes there are other strong contenders) but I did hear through this site that the owners of the lots around here are incredibly stubborn and have been holding onto these lots for what seems like decades. I wonder if Maclab has quietly been trying purchase these lots and has a bigger vision for them.
IanO said:
Little known fact: Circa 2007 I represented a well known local developer and contractor to put an offer on this site and were told it was 'not for sale'.
Click to expand...
Were you folks told the reason why it wasn't for sale at the time?
 
supaflyryguy said:
If I had to venture a guess, those parking lots are all unlicensed, print free money, and are not taxed for shit. Why would they bother doing anything with them?
Click to expand...
I suppose if they were bought a long time ago, there may be little or no loan and interest to pay and the money from parking covers or mostly covers any costs.

So there is probably no hurry for the owners to develop and they will do when they feel it is right, although the rest of us would like to happen sooner rather than later.
 
You must log in or register to post here.

Back
Top