The Parks | 146.91m | 45s | 35s | 13s | Pangman | Hariri Pontarini

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If the cat's out of the bag... I have already snapzed relevant pieces of the project and if it is on C2E then it is already in the public domain. Excellent architectural choice in Hariri Pontarini -- this would be their second major Edmonton offering after the Marriott in the Ice District -- yes!!! This is a beautiful project with many lessons here for the likes of the Edmonton Motors proposal. I like the retail presence, the portal connecting to the proposed park, the rooftop amenities, the design, and oh, yes, the DESIGN.
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Holy Crap! These are gonna be two impressive towers that's for sure!
On a more serious note, I am in such awe and disbelief at what is happening to our city today. It has been LESS THAN A DECADE and we have gone from what people called "Deadmonton" to the true big city that we are. I see a very bright future for our city, but only the citizens can make sure that it stays on a steady course.
@MCXavierL, good question. With an ever increasing list of proposals it's getting more difficult to keep up by the day.! I'm loving it, but also wonder at times if it's all sustainable? Here's a good article from the Sun yesterday that supports your question of supply/demand.


What do the Big Guys know that we don’t?

Alberta’s economic indicators have been lousy since the great oil crash and are not predicted to get any better in 2019.

The average value of residential homes in Edmonton has dropped for three years in a row.

Yet the city’s commercial real estate market, as reported earlier this week, had a rosy glow in 2018.

I've read various articles over the past few years regarding the need for an increase in quality downtown hotels for various reasons, such as we've missed out on some larger conventions to cities like Winnipeg or our neighbor's to the South. I'll do some searching to find them.

Office vacancy rates are being "helped" somewhat by conversions and some smaller office absorption like BioWare. I think the biggest factor's for Edmonton's continued success is to retain existing companies and attract new business (and reclaim some head offices that vacated years ago). We will have truly advanced as a cosmopolitan city when we have shovels in the ground for a new shiny office tower supporting a company logo that we haven't seen before.
@MCXavierL we can only govern by growth projections and cultural trends. Growth projections have Edmonton at 3.2 Million (metro) population by 2042 or about 58,000 people per year. If we apply a standard deviation principle, the lowest that projection should be would be 47,000 people per year (roughly -- again talking metro area not City proper). Another projection has 50% of that growth in downtown or nodal centres (i.e. TODs) or about 23,500 people per year (and not accounting for current residents who will move from suburbs to downtown or other nodal developments). With an average "core" family size of 2.3 people per unit (marrieds with children, co-unit sharers, etc.) the occupancy becomes 11,750 units -- if half of that goes downtown and half goes to other nodal developments then downtown should have a fairly regular growth demanding about 5,875 units per year. Since growth is not a straight line phenomenon but is a percentage over the previous year's expansion, 2019 should have a demand of about 4,890 units in the downtown area -- about 10 buildings the size of the Sky Residences development. How many will be completed in 2019? By my count there will be 7 occupy-able highrise structures completed this year downtown totaling 1,518 units. Assuming that there is an equal number of units built-out in low-rise developments, we are at around 3,000 units -- a shortfall of about 1,900 units (greater than the number of units in highrise being built for the current year). Little wonder that there is a mad rush going on to build more residential units downtown. And Edmonton is the most hotel-deficient major City in all of Canada -- hence the myriad proposals for new structures in that regard. There will be only two major hotel openings downtown in 2019 -- the Hyatt conversion of the former office building and the new Marriott, both well positioned in the core area to do exceptional business. In summary, Edmonton has a long way to go to meet demand and, as the construction boom continues, the demand will feed upon itself pushing upward from the low end of standard deviation.
Look at the new activity on the entertainment scene post-Rogers Place opening and apart from hotel offerings and pubs and restaurants -- RAM, the new Library, the expansion to MacEwan University, the expansion of the Winspear Centre, the new Roxy theatre, the Ukrainian Museum, the two Art conversions in the Quarters and the Ice District Plaza. Downtown Edmonton's cachet is on the rise in a very dramatic way. Who wouldn't want to live downtown? The current spate of proposals are barely scratching the surface of pent-up demand. And all of this will lean hard on alternative transportation opportunities.
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Music to my ears, thank you for a very informed and knowledgeable update @archited .
The growth population projection for metro Edmonton over the next 20'(ish) years seems rather inflated to me, but who know's until the fact. Developers here are agreeing with you, that's very apparent.
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Interesting, I didn't realize the high-rise rental market was so hot as well. Thanks @Kaizen! And thank you @archited for your educational and thoughtful response, I buy into the rate of development a little more -- although I agree that 3 million by 2042 seems a little high. The City of Edmonton's Growth Study from March 2018 projected 1.3 million. to 1.5 million by 2040. I will digress though so I don't take away from the forum for this exciting project.
@MCXavierL i think that Archited was using the the whole Edmonton Metro population in his estimate, too.