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Thread: The View at Grandin City | 23 storeys | Approved

  1. #201
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    Quote Originally Posted by envaneo View Post
    Quote Originally Posted by Big Bird View Post
    Quote Originally Posted by envaneo View Post
    Speaking as a infamous participant of this community and about Westrich itself: What happened to Westrich's 106th street proposal adjacent to the Energy square building?
    You refer to it as if it's parallel to "Manulife 2" or the "Edmontonian" !The thread on it was started way, way back in November of "ought-17"... and yet no spades in the ground. How do you think development works ?
    Not sure what your getting at here but oh well.
    What I'm getting at here is that you, who know that long development cycle so well, seemed to be target "Westrich itself" with "What happened to Westrich's 106th street proposal..." as if they are really dragging their feet in some unusual way.You can try to "walk that back" but the implication was pretty obvious and the lack of time reality in that comment was very blatant imo. I was simply pointing that out with a comparison to examples of true "taking forever" projects.

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    I was over exploring the Grandin neighbourhood. Can someone tell me, what are these Eric Cormack Centre and Edmonton Community Board Essential and Support Services Administration Buildings?

    They looked boarded up and in rough shape.

  3. #203

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    While you were there, did you do a close up of that EG parkade? I'm curious as to why they wanted that replaced.

    As per the ' View', This tower will look equal to Encore imo. It should have somewhat of an impact to the skyline from that area, and give the area a much need new outlook. The area, as a whole, is very tired looking.
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    Quote Originally Posted by ctzn-Ed View Post
    While you were there, did you do a close up of that EG parkade? I'm curious as to why they wanted that replaced.

    As per the ' View', This tower will look equal to Encore imo. It should have somewhat of an impact to the skyline from that area, and give the area a much need new outlook. The area, as a whole, is very tired looking.

    I've walked by that EG parkade many times. I can't fathom why AHS wants to replace it with another parkade. Anyone got $25? file a FOIP to AHS

  5. #205

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    I'm puzzled now. II wonder if they could add on to it? The only reason I could see is that this parkade is above ground, so they mostlike want to do underground and have a " ready to develope" platform for future expansion? I did recall talks of shortage of space at one point for EG.
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    Quote Originally Posted by David Jackson View Post
    I was over exploring the Grandin neighbourhood. Can someone tell me, what are these Eric Cormack Centre and Edmonton Community Board Essential and Support Services Administration Buildings?

    They looked boarded up and in rough shape.
    I think the Eric Cormack Centre was a housing facility for persons with developmental disabilities, which the Province shut down in 2012: https://www.alberta.ca/release.cfm?x...9DE7FC5DE393F7
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    Not sure I read this corectly or if it was stated somewhere but are these condo's or rentals?
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    Quote Originally Posted by JamesL View Post
    Quote Originally Posted by David Jackson View Post
    I was over exploring the Grandin neighbourhood. Can someone tell me, what are these Eric Cormack Centre and Edmonton Community Board Essential and Support Services Administration Buildings?

    They looked boarded up and in rough shape.
    I think the Eric Cormack Centre was a housing facility for persons with developmental disabilities, which the Province shut down in 2012: https://www.alberta.ca/release.cfm?x...9DE7FC5DE393F7
    That collection of buildings, including the Eric Cormack Centre, was once the Misericordia Hospital. I think it closed as a hospital about 1971 or 1972 when the new facility on 170th Street was completed. The old hospital was then re-purposed into the Eric Cormack Centre.
    Almost always open to debate...

  10. #210
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    Quote Originally Posted by David Jackson View Post
    I was over exploring the Grandin neighbourhood. Can someone tell me, what are these Eric Cormack Centre and Edmonton Community Board Essential and Support Services Administration Buildings?

    They looked boarded up and in rough shape.
    As recently as a couple years ago, the Government of Alberta still owned all of those buildings.

  11. #211

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    I'm not sure if its open, but the wrappings are off from the signage of the View's sales centre on the northeast corner of 116 st and Jasper Ave.

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    Quote Originally Posted by danimori View Post
    condos.
    It makes sense, so close to the ledge and all. That woman in the presser about this project last week, said she was concerned about her adjacent building (not the parkade) how the building would block sunlight from her building. No sure if she said apartment building or condo building.
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  13. #213

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    i see from the website that sales begin Oct 20 with prices starting at $239,000 for one bedroom units - special one day pricing. I imagine that doesn't include gst and who knows about parking.
    it will be interesting to see how sales go given the current slower market. I think initial day sales were really strong on Ultima and less so on Encore.

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    Softer market right now, but amazing location, well priced, modern design.
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  15. #215

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    iirc the 1bdr 515sf in ultima was about $240k as well for VIP sales...and that had parking

  16. #216

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    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.

  17. #217

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    Slapping on Condos in hoping families move in at 'Symphony' is the most idiotic solution I could think of. This city is not Hong Kong or Tokyo where people have no choice. It is a failed business concept as far as I'm concern. Even our civic leaders are naive with this thinking. Here, they have to cross a major artery to get to a back yard which defeats the concept of family living.
    Last edited by ctzn-Ed; 01-10-2018 at 06:46 PM.
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  18. #218
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    Family sized units also provide empty nesters with options too.
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  19. #219

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    If you want to contradict what you're saying sure. On one hand, you say family size is for emty nesters, but didn't the empty nesters come from family size hone? If you are referring to downsizing, wouldn't that contradict the down size from family
    home to family size condo?
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  20. #220

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    Quote Originally Posted by racer View Post
    i see from the website that sales begin Oct 20 with prices starting at $239,000 for one bedroom units - special one day pricing. I imagine that doesn't include gst and who knows about parking...
    I recall from the council hearing, developer saying each unit comes with 1 parking spot.

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    ^That might be the parking stall per unit ratio. Whether or not the units include a parking stall in the price is a different thing. Given the prices being quoted I am almost willing to assume that parking will be extra.

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    Quote Originally Posted by ctzn-Ed View Post
    If you want to contradict what you're saying sure. On one hand, you say family size is for emty nesters, but didn't the empty nesters come from family size hone? If you are referring to downsizing, wouldn't that contradict the down size from family
    home to family size condo?
    Not usually no. They are often coming down from 2500-3000sqft and so 1200-1500 is 'downsizing'.
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    Quote Originally Posted by IanO View Post
    Family sized units also provide empty nesters with options too.
    Every condo project in Edmonton struggles mightily to sell the larger 3+ bedroom suites. The market's pretty clear that it doesn't have much demand for them, or at least it doesn't if they're priced proportionately to smaller units.

  24. #224
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    That's correct, they are a tough sell, always have been, always will be.
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  25. #225

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    Unless you subsidize family sized condos, then market forces will dictate that most families will prefer to live in the new suburbs.

    Why pay for a $650k for a ~1300sf 3 bedroom condo when you can get a mini McMansion elsewhere in Edmonton for that money.

    For starters, your typical young family won't be able to afford that and if they did, it is still a tough sell.

  26. #226
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    'Why pay for a $650k for a ~1300sf 3 bedroom condo when you can get a mini McMansion elsewhere in Edmonton for that money.'

    Sometimes there is value placed on other things.
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  27. #227

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    Most new spec. infills in mature neighbourhoods are in the 1300-1500 sq. ft. range for 3 bedrooms, $450k-$800k depending on location. You're paying for location, concrete, glass, etc in this case.
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  28. #228

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    Quote Originally Posted by IanO View Post

    Sometimes there is value placed on other things.
    Yes. The odd family does go against the grain so to speak and decide to living in a central location.

    But anecdotally speaking, 9 out of my 10 of my friends live in suburbia and 9 out of 10 of their friends also live in the new builds outside the Henday.

    It's naive to think that forcing a developer to put in 3 bedroom units will magically mean families will move in. Quite the opposite.

    With all due respect Greenspace, I've seen a $475k skinny home in a somewhat central neighbourhood. The build quality and finishes are quite disappointing. Ones with decent finishes tend to be around $550k+ and ones with nice finishes (which often is the standard in the suburban fringe builds) are $600k+...Add $100k if you want to live in Glenora. Which by the way, none of these are realistic for majority of new families in Edmonton. Unless you want to be swimming in debt, none of these are options for most families. Perhaps the DINKS couple wishing to start a family later in life, but not your typical family you see moving into the suburbs with their first jobs. It's not so much condo living that stops families from living downtown, its purely the costs. There are plenty of kids that live in the new condos in far flung regions. I know plenty of people who have no issues with raising a family downtown. They value all the things you think central living brings and don't mind the inconveniences that come along but when they sit down and stare at the bottom line, it's quite easy to choose where to settle purely based costs.

    And its a tendency for people to stay in the area after a while. So while they command a larger salary over 4-5 years, they don't suddenly look centrally for a new home, they look around their area.

    So for Council to force developers to slap in these 3 bedroom units and then pat themselves on the back shows how out of touch they are with reality. No different that affordable housing in my opinion. Merely cosmetic bandages without addressing the source of the cuts.

  29. #229

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    Quote Originally Posted by racer View Post
    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.
    Looks like the design features on CX's website haven't been updated and still lists exposed wood ceilings and polished concrete floors - was this a recent change?

  30. #230

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    2-3 bedroom requirements for new buildings from 4-storeys to tall towers are a common city planning requirement in many N. American urban centres. Usually found between 20-35% of units must be so or "family-orientated", with a 5-10% requirement for 3-bedrooms within that "family" category. It's a lot of chicken-and-egg-onomics and a lot of "is it really a free market afterall?" isms. The initiative to enact of requiring new developments to have a family unit minimum can be tied to everything from land-use and infrastructure efficiency, to holistic community planning, to diversifying neighbourhoods, to combating "sprawl", the arguments or claims on can spin it are endless, but it certainly has positive effects, and the balance for developer and market-friendly strategies is to determine what % is reasonable for the market that development is in. By-laws can also classify different housing types to be exempt from this % rule (seniors, student, social housing, for instance).
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  31. #231

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    Quote Originally Posted by J.J View Post
    Quote Originally Posted by racer View Post
    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.
    Looks like the design features on CX's website haven't been updated and still lists exposed wood ceilings and polished concrete floors - was this a recent change?
    I was at their site in Edmonton city centre on Saturday - I said the same thing. I guess the ceiling change was due to steel tariffs. I think if people still want concrete floors they can accommodate it otherwise laminate will be standard. The residences on the current lot where CX Grandin will be built are supposed to be coming down in November.

  32. #232
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  33. #233

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    Sharp indeed and hoping for success.
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  34. #234

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    Quote Originally Posted by racer View Post
    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.
    Whoah, website has been updated with floor plans and lots more details.

    https://grandincity.com/floorplans/#4to10

    Looks like A1 - 1BR 525 sf unit starting at $239K INCLUDES parking spot. Wow, that's some great pricing for concrete building with the finishing they are showing.

  35. #235

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    Quote Originally Posted by GeN View Post
    Quote Originally Posted by racer View Post
    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.
    Whoah, website has been updated with floor plans and lots more details.

    https://grandincity.com/floorplans/#4to10

    Looks like A1 - 1BR 525 sf unit starting at $239K INCLUDES parking spot. Wow, that's some great pricing for concrete building with the finishing they are showing.
    And according to the email registration notice I received, if a purchaser opts to decline a parking space, the purchase price will be reduced by $30,000.

  36. #236

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    Quote Originally Posted by racer View Post
    Quote Originally Posted by GeN View Post
    Quote Originally Posted by racer View Post
    For comparison - CX Grandin a block away is asking $242,000 +GST (and no parking) for it's smallest unit - 514sqft on 3rd floor. And they had a price increase in June which is surprising in this market - sales are poor. They've also changed some of their design elements inside such as the exposed wood ceilings and instead of polished concrete floors now looking at laminate. But free condo fees for two years. My concern for The View as well as CX Grandin project as well as Symphony - is related to the townhomes. In Grandin there are several larger townhomes and they are not selling. The same with Symphony and I believe I read the developer for The View isn't too positive about the larger family units selling well in that building either.
    Whoah, website has been updated with floor plans and lots more details.

    https://grandincity.com/floorplans/#4to10

    Looks like A1 - 1BR 525 sf unit starting at $239K INCLUDES parking spot. Wow, that's some great pricing for concrete building with the finishing they are showing.
    And according to the email registration notice I received, if a purchaser opts to decline a parking space, the purchase price will be reduced by $30,000.
    If its the 525 sq ft unit. Its a sad sad unit. BUT this is very encouraging that prices are available like this.
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  37. #237

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    This 525 sf unit is much better than their similarly sized one in the Ultima where the bedroom didn't even have an exterior window.

  38. #238

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    ^It's actually a decent layout, new construction, location, etc. I expect those to go fast.
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  39. #239

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    Quote Originally Posted by B.ike View Post
    This 525 sf unit is much better than their similarly sized one in the Ultima where the bedroom didn't even have an exterior window.
    It is more a glorified studio at that size. It is doable for a couple, but a perfect size for outgoing individuals.
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  40. #240
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    Hrrrm, maybe not for high rises, but thought bedrooms without windows (to escape in the event of fire) were illegal.

    Not that I know beyond hearsay ....
    ... gobsmacked

  41. #241

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    ^ oh there's a window...right above the fridge:


    source: https://www.realtor.ca/real-estate/1...6-downtownedmo
    (could be taken down when this unit is sold or removed from market)

    I'm not sure about codes for highrise bedrooms.

  42. #242

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    ^That's weird. It might satisfy code in terms of natural light, it certainly doesn't for minimum egress.
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    It's an ugly looking kitchen..sorry, but it is.

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    I'm not entirely sure what a bedroom window in an upper floor of a high rise would do for me in the case of a fire. In my apartment, I would be going to my living room anyway because it has both exits (to the balcony and to the hallway door).

    I would actually like a bedroom without a window for noise reasons.

  45. #245
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    Drove past at about 7:45 on my way to work this morning and there were about 7-8 people lined up outside the sales centre waiting for the Grand Opening.
    Edmonton is a very exciting place to be right now.

  46. #246

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    Apparently over a 100 units sold yesterday.

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    Quote Originally Posted by B.ike View Post
    ^ oh there's a window...right above the fridge:


    source: https://www.realtor.ca/real-estate/1...6-downtownedmo
    (could be taken down when this unit is sold or removed from market)

    I'm not sure about codes for highrise bedrooms.
    That's not an egress, it's a window from another room or the main entrance.
    Last edited by Stevey_G; 21-10-2018 at 12:16 PM.
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    Quote Originally Posted by Oilers99 View Post
    Apparently over a 100 units sold yesterday.
    I would imagine. When I left work at noon yesterday, the lineup was out the door and around the block down 116st.
    Edmonton is a very exciting place to be right now.

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    Quote Originally Posted by Oilers99 View Post
    Apparently over a 100 units sold yesterday.
    Wow over 50% sold in one day.

  50. #250

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    Quote Originally Posted by TheGreatestX View Post
    Quote Originally Posted by Oilers99 View Post
    Apparently over a 100 units sold yesterday.
    Wow over 50% sold in one day.
    KATZ Could learn a thing or two from this developer.
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  51. #251

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    Now, watch Falcon fail miserably. People want nice for relative fair price which Westrich seem to understand extremely well. I'm very impressed with this result. I'm waiting for their next tower in the core. It is either this company or Edgar that appears to win me over. Regency is up or down . Great work Westrich, and keep them coming. Don't be afraid to use colours aside from blue or green. We don't want a sea of bue/green like Van.
    Last edited by ctzn-Ed; 21-10-2018 at 09:43 PM.
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    They've really marketed this one heavily –– mailers, even radio ads. Not surprised if they really are having strong initial sales.
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  53. #253

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    Quote Originally Posted by JamesL View Post
    They've really marketed this one heavily –– mailers, even radio ads. Not surprised if they really are having strong initial sales.
    Yup! I've seen it on TV. This is something I mentioned in the past that developers had to do. Council want people dowtown, so when will they do the same as Westrich?
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  54. #254

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    Mind you by "sold", they have 10 days to seriously consider. All you had to do was plop a $1,000 cheque which would be returned if you decided not to go through after 10 days.

    Most of the units come to around $600/sf with 50c/sf condo fees. This isn't some investment vehicle...you'd want to live here. But they surprised us with Encore, hopefully this can get the sales and break ground as well.

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    Quote Originally Posted by ctzn-Ed View Post
    Now, watch Falcon fail miserably. People want nice for relative fair price which Westrich seem to understand extremely well. I'm very impressed with this result. I'm waiting for their next tower in the core. It is either this company or Edgar that appears to win me over. Regency is up or down . Great work Westrich, and keep them coming. Don't be afraid to use colours aside from blue or green. We don't want a sea of bue/green like Van.
    No, Falcon won't fail. It's location is better than Grandin like you said. Westrich has always been aggressive as it relates to pricing - which is a big draw for purchasers. Good on them to get this many sales considering how soft the market is.

  56. #256

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    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
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    Quote Originally Posted by B.ike View Post
    Mind you by "sold", they have 10 days to seriously consider. All you had to do was plop a $1,000 cheque which would be returned if you decided not to go through after 10 days.

    Most of the units come to around $600/sf with 50c/sf condo fees. This isn't some investment vehicle...you'd want to live here. But they surprised us with Encore, hopefully this can get the sales and break ground as well.
    ^Even with those prices there will be a number that are 'investor' units - typically 10-15% sometimes higher.

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    Quote Originally Posted by ctzn-Ed View Post
    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
    The same could have been said back when Ultima was released and Fox 1. Ultima had more aggressive pricing and aesthetics versus Fox but it too sold at higher prices versus Ultima.

  59. #259

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    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by ctzn-Ed View Post
    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
    The same could have been said back when Ultima was released and Fox 1. Ultima had more aggressive pricing and aesthetics versus Fox but it too sold at higher prices versus Ultima.
    Interesting, do you know what the average selling price for Fox and Ultima were Chris?

  60. #260

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    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by ctzn-Ed View Post
    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
    The same could have been said back when Ultima was released and Fox 1. Ultima had more aggressive pricing and aesthetics versus Fox but it too sold at higher prices versus Ultima.
    The difference was then to now is that the rink negotiation spurred tremendous excitement that helped sales. Legend also sold well. Today, it is a different dynamics.
    " The strength of a man is in the stride he walks."

  61. #261
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    Quote Originally Posted by ctzn-Ed View Post
    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by ctzn-Ed View Post
    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
    The same could have been said back when Ultima was released and Fox 1. Ultima had more aggressive pricing and aesthetics versus Fox but it too sold at higher prices versus Ultima.
    The difference was then to now is that the rink negotiation spurred tremendous excitement that helped sales. Legend also sold well. Today, it is a different dynamics.
    Disagree. The Ice District is almost completed and the activity in the area has picked up thereby making 104 Street even more attractive.

  62. #262
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    Quote Originally Posted by GeN View Post
    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by ctzn-Ed View Post
    Location is one thing, but if your competitor also have a great location and a nicer offering... I hope the best for them, as I'm a big supporter of downtown living, but I am sticking with my gut instinct. I would be more than glad to be wrong on that thought.
    The same could have been said back when Ultima was released and Fox 1. Ultima had more aggressive pricing and aesthetics versus Fox but it too sold at higher prices versus Ultima.
    Interesting, do you know what the average selling price for Fox and Ultima were Chris?
    I can't recall but Fox was selling for more versus Ultima.

  63. #263

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    Westrich is also well known for having a group of about 50 Doctor's/Dentists who buy a unit in every Westrich building. That isn't a huge secret.

  64. #264

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    Fox was due to the arena agreement finalizing. As well, During that time, aesthetic was a different game back then, and it was a different dynamic than today. Even Legend sold at an incredible rate due to the arena. Fox didn't sell like Encore or this during the first week. Today's true economic is the real indicator.
    " The strength of a man is in the stride he walks."

  65. #265

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    If sales are strong I'm glad. I live in the Grandin area and love it.
    But I still wish pricing was a bit more affordable to help attract more interest overall. I don't know the units that are selling in this project, but the thought of paying $360,000 (includes tax) for a 730sq ft unit on the lowest floor of the tower and $400,000 for that same unit mid tower, seems high for that kind of space.

    I wonder what kind of profits the developer makes on a project like this? I know the city must do well - at least I think. Where it might have been collecting $4,000 each (just a guest) in property taxes for each of the two properties on those lots, now it will be collecting about $2,500 (on average?) for 200 units or so. That's $500,000 a year versus $8,000. In ten years, that's $5million versus $80,000. Or am I off the mark here. Are there a lot of additional costs to the city here?

  66. #266

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    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by GeN View Post

    Interesting, do you know what the average selling price for Fox and Ultima were Chris?
    I can't recall but Fox was selling for more versus Ultima.
    The very initial units, the one bedroom and the 2 bedroom/ 1 bath units were very aggressively priced and cheap. But after the VIP sales, if you wanted something with 2 bedroom and 2 bathroom, the prices in Ultima were more expensive. Outside the initial reserved units, I have an email that shows that the typical tower portion cost about $500-$525/sf and iirc each additional floor was $2000.

    I helped a friend get a unit in Fox 2 (reserved a unit earlier in the sale process), and they got their 2bdr 2 bath unit at equivalent of $450/sf although a low level unit could have been as cheap as $430/sf....each additional floor at the Fox was $1300.

    Current MLS prices reflect the reality. Both Fox and Ultima units are priced around the same....$450,000 for 2bed 2 bath BUT you get about 100sf LESS in Ultima.
    Some people like the space, some people like the finishes and the window walls. Toss up. The units are priced accordingly. You get what you pay for. Fox has less bells and whistles and is priced in it's own little niche. No doubt Falcon will do the same.

    Honestly I'm surprised with the Grandin City development. Last I checked, Encore was only 60% sold. Sky residences about 30% sold. Brad Lamb gave up. The market is overrun with $500,000+ condos in the downtown area....will be interesting to see how this development pans out.
    Last edited by B.ike; 22-10-2018 at 03:24 PM.

  67. #267

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    [QUOTE=B.ike;908154][QUOTE=ChrisD;908123]
    Quote Originally Posted by GeN View Post



    Honestly I'm surprised with the Grandin City development. Last I checked, Encore was only 60% sold. Sky residences about 30% sold. Brad Lamb gave up. The market is overrun with $500,000+ condos in the downtown area....will be interesting to see how this development pans out.
    As mentioned above, when you have 50 investors who purchase in every single building you build, it sure helps presales. I am not saying this is a bad thing at all, as they obviously keep buying because they are doing well on their previous investments, but it really helps the developer.

  68. #268
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    I'd say that Ultima units, if comparable layouts, should be worth more than ones at the Fox. Better finishes, better looking building on the exterior, more amenity space and most importantly: central forced air heating and cooling in every suite. The Foxes still have baseboard heating as far as I know, with optional PTAC or ductless-split air-conditioners only serving individual rooms. Both Icons have had numerous floods because of baseboard heating, is my understanding. Not sure if the Foxes have had any problems or not, but it's basically an inevitability. Hydronic baseboard should pretty much never be installed in a high rise, even if it's the cheapest and most efficient way to heat.

    No idea if that's reflected in the market place. I'm always shocked by how ignorant the average condo buyer/owner is about how their suite is heated/cooled/ventilated, so the market is certainly not efficient in that regard.

  69. #269

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    Furthermore, the boom has ceased; labour shortage is yesterday; and trades salaries has taken a decrease, so why is everything still expensive as 4 years ago? We understood that the oilsands caused materials to skyrocket and labour shortages increased wages, but, now, what is the reasoning? Greed can only go so far...
    " The strength of a man is in the stride he walks."

  70. #270

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    Quote Originally Posted by Marcel Petrin View Post
    I'd say that Ultima units, if comparable layouts, should be worth more than ones at the Fox. Better finishes, better looking building on the exterior, more amenity space and most importantly: central forced air heating and cooling in every suite. The Foxes still have baseboard heating as far as I know, with optional PTAC or ductless-split air-conditioners only serving individual rooms. Both Icons have had numerous floods because of baseboard heating, is my understanding. Not sure if the Foxes have had any problems or not, but it's basically an inevitability. Hydronic baseboard should pretty much never be installed in a high rise, even if it's the cheapest and most efficient way to heat.

    No idea if that's reflected in the market place. I'm always shocked by how ignorant the average condo buyer/owner is about how their suite is heated/cooled/ventilated, so the market is certainly not efficient in that regard.
    There have been a number of floods at Fox One and there have been significant issues with the ductless air conditioning systems. Ultima has also had its fair share of issues in other aspects of the construction.

    RE: investor units, Westrich has a very strong investor base and as canuckyeg mentioned if they keep making money on their investments, those investors will continue to purchase. Langham has their own investor base purchasers as well.

  71. #271
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    Quote Originally Posted by ctzn-Ed View Post
    Furthermore, the boom has ceased; labour shortage is yesterday; and trades salaries has taken a decrease, so why is everything still expensive as 4 years ago? We understood that the oilsands caused materials to skyrocket and labour shortages increased wages, but, now, what is the reasoning? Greed can only go so far...
    Richie Lam is Vietnamese, like you and my wife. Greedy. 😆 lol (jk)

  72. #272

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    I'll have you known that my heritage is 3/4 Chinese lol. In all seriousness, if all developers take a bit less and go for the volume, they might do better. What is Van or TO is way different than Edmonton as markets.
    " The strength of a man is in the stride he walks."

  73. #273

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    Quote Originally Posted by ctzn-Ed View Post
    I'll have you known that my heritage is 3/4 Chinese lol. In all seriousness, if all developers take a bit less and go for the volume, they might do better. What is Van or TO is way different than Edmonton as markets.
    ******* preach it!! This is my thought exactly!
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  74. #274

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    [QUOTE=canuckyeg;908157][QUOTE=B.ike;908154]
    Quote Originally Posted by ChrisD View Post
    Quote Originally Posted by GeN View Post



    Honestly I'm surprised with the Grandin City development. Last I checked, Encore was only 60% sold. Sky residences about 30% sold. Brad Lamb gave up. The market is overrun with $500,000+ condos in the downtown area....will be interesting to see how this development pans out.
    As mentioned above, when you have 50 investors who purchase in every single building you build, it sure helps presales. I am not saying this is a bad thing at all, as they obviously keep buying because they are doing well on their previous investments, but it really helps the developer.
    I don't believe they buy actual units. They are helping to provide cash to proceed with the build and on paper show more units sold to trigger financing. In the end, though, those units are resold later and they are give a guaranteed rate of return on their money.

  75. #275

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    Well this really piqued my interest as Legends has baseboard heating. Ironically, Sky has forced air.

  76. #276

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    Quote Originally Posted by Messiah View Post
    Well this really piqued my interest as Legends has baseboard heating. Ironically, Sky has forced air.
    Really? Can someone confirm. My understanding is baseboard heating is on the cheap/low end. There is no way a high end luxury condo like Legends would have baseboard heating. What do they have for AC?

  77. #277
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    Is he thinking The Legend? The Century's better looking sibling? If Legends above JW has baseboard, it's likely only to address occupant comfort and condensation on the window walls. They'll have some sort of fan-coil or heat pump to move air around and to provide cooling, if not also heating. Zero chance it's baseboard only with no cooling.

  78. #278

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    Thanks for those type of inputs Marcel! These are really useful informations all around.
    " The strength of a man is in the stride he walks."

  79. #279
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    ^^Do you mean The Legacy, Marcel?
    “Son, one day this will be an iconic structure shaping Edmonton’s skyline.”

  80. #280
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    Whoops, yes, you're correct.

  81. #281

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    Pretty interesting information. It says >70% of it was already reserved on day one. (pg. 14)


    https://nexthome.ca/magazines/edmont...g=en#book_view


    under nexthome+condoguide, November issue

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