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Miscellaneous

I like how there are more ans more multi unit building going up near the box stores, allowing for less need of cars needed to be owned, more walking and public transit.
 
Edmcowboy11 said:
I like how there are more ans more multi unit building going up near the box stores, allowing for less need of cars needed to be owned, more walking and public transit.
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I was thinking the same thing earlier today, driving to work. There are a bunch of multifam developments going up all around the big box stores in Orchards/Ellerslie/Summerside/Charlesworth, as well as a lot of trails/pathways that crisscross these newer developments and actually allow easier access to commercial areas. While far from ideal, from a city-wide mobility point of view, it is becoming a lot easier to move around without a car down here, especially if you bike.
Just by looking at the ones I drive by every day on my way to work still under construction, there are probably over 500 new units going up around the 54st/Ellerslie Rd Superstore, which are all with walking distance to quite a few stores. And on top of these, there are the ones already finished and leased.
The townhome complex around the Orchards future Co-Op is also quite interesting, and there are condos and apartments projected to be built on 66st/25Ave, across from it, as well.
The only thing it lacks, IMO, to be a fairly reasonable compromise between typical suburbia and a proper urban experience is better transit.
 
ChazYEG said:
I was thinking the same thing earlier today, driving to work. There are a bunch of multifam developments going up all around the big box stores in Orchards/Ellerslie/Summerside/Charlesworth, as well as a lot of trails/pathways that crisscross these newer developments and actually allow easier access to commercial areas. While far from ideal, from a city-wide mobility point of view, it is becoming a lot easier to move around without a car down here, especially if you bike.
Just by looking at the ones I drive by every day on my way to work still under construction, there are probably over 500 new units going up around the 54st/Ellerslie Rd Superstore, which are all with walking distance to quite a few stores. And on top of these, there are the ones already finished and leased.
The townhome complex around the Orchards future Co-Op is also quite interesting, and there are condos and apartments projected to be built on 66st/25Ave, across from it, as well.
The only thing it lacks, IMO, to be a fairly reasonable compromise between typical suburbia and a proper urban experience is better transit.
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I live right near there and often wonder what could have been if they chose to make that shopping centre a more walkable and urban experience. Orchards Center (Yes, spelled the American way which drives me crazy) is a perfect example of a boring, car-oriented box-style shopping centre that is going to be surrounded by townhomes, duplexes, condos, and apartments. I have a hard time believing the only way this would be successful is to dedicate 60-75% of the land to parking. Even something similar to where BUCO and Mercato are in St. Albert would be a massive improvement over what we continue to get. A lot of these parking lots are only 50% full at the busiest of times.
 
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Local firm Kastel is moving its own offices into the Empire from the west end of the city, Javorski said. The company plans to upgrade the lobby and add an upscale coffee bar to the main floor, which is located at 10080 Jasper Avenue in the heart of Edmonton’s financial district.
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Gay said the Empire lease rates were $16 per square foot but the new owner has a “more aggressive” strategy aimed at attracting tenants by dropping the rates.

Javorski said in the two weeks since the Empire lease rates have been reduced the building has attracted two local law firm tenants.

Javorski said he hopes to attract some tech firms into the tenant mix as well. The Empire is directly across Jasper Avenue from the office of AMII (the Alberta Machine Intelligence Institute), a premier artificial intelligence company.
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This is interesting! Two new law firm tenants just based on dropping lease rates from two weeks ago and the owning firm moving their offices downtown from the suburbs. Two wins!
 
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Building - Live Alto.

BUILDING DISCOVER ALTO Welcome to Alto, a boutique rental development located in the charming neighborhood of Queen Alexandra in Edmonton. Our building features 43modern homes in a variety of studio, one and two bedroom layouts, with ample underground parking and bike storage. We pride ourselves...
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You guys probably know much better than me but could this inspire others in the area to have more aggressive leasing strategies if this one works out?
 
A space sitting empty for years is not contributing to cash flow or paying any building expenses and as long as the area is seen as a bit of a risk, landlords will need to be flexible to try fill at least some of the empty space.
 
Kosy123 said:
You guys probably know much better than me but could this inspire others in the area to have more aggressive leasing strategies if this one works out?
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I never heard anything public about this but the owner of the old HSBC building right across the street from Energy Square did this exact same thing over the last few years. He bought it pretty cheap from Dream REIT about 5 or 6 years ago and has taken lower rates and even built a totally new space for a coffee shop. He did tell me that he had no debt on the building, which is pretty rare, and that allowed him an insane amount of flexibility in what he was able to do (No bank telling you what to do). As of last Christmas he had almost 90% occupancy in what really is a Class B building at best, but it is thriving and a pretty cool business hub n its own right.
 
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