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Mackenzie Tower (10145 + 10149 104 Street) | 34 Stories Hotel + Condo | Proposed

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  • It's no big secret that it's very tough to sell condos in the present market.

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    • Originally posted by envaneo View Post
      3.5 year supply? So much for new condo tower development. No wonder why this development is changing from condo's to apartments. I wouldn't say this is just a melenial problem. Could this development be setting president?
      Sure, but keep in mind that the vast majority of that supply is wood-framed around the AHD.


      Ottawa-Edmonton-Vancouver-Edmonton

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      • If that's the case, why the lack of demand for high rise condos downtown? Shouldn't people be lining up for downtown condos? Instead we've got Tower B delayed, projects switching to rentals or outright cancelled.

        I thought that downtown was a totally different market than the rubes in the outlying areas?

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        • In a typical fashion, blames the suburbs.
          A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices.

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          • The entire market is down and barriers of entry up, but from the EREB, the majority of that inventory is around the AHD... simple fact.


            Ottawa-Edmonton-Vancouver-Edmonton

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            • Overbuilding, not good. Now these will become rentals..developers have said this. As if everyone is running downtown to live

              Oh and these? Not so green..

              https://www.brusselstimes.com/all-ne...l-study-shows/
              Animals are my passion.

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              • Central Edmonton needs a higher quality rental stock and that is a very positive thing to see the next wave mostly rental in some ways. That said, we need the condo market to return.


                Ottawa-Edmonton-Vancouver-Edmonton

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                • After reading the rumors on this thread about the lack of interest in the condos and Urban Capital pulling out, I was curious why they kept up the facade of building a condo tower during the recent rezoning application with city council. They were probably well aware it would be rentals, so I think it was a bit disingenuous the way it was presented. I wonder if that might have had an effect on what ended up being a split decision.

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                  • Originally posted by IanO View Post
                    Central Edmonton needs a higher quality rental stock and that is a very positive thing to see the next wave mostly rental in some ways. That said, we need the condo market to return.
                    Agreed on the other one above as well. We're not Vancouver or Toronto where the entry level condo ownership for first time buyers is a requirement. It makes sense for the housing market to have good supply of apartments especially in the downtown core. Does the city still have that bylaw that states that a certain percentage of all rental property development needs to be affordable housing? I tried 311 but I couldn't get a straight answer. Maybe I was having a bad day.
                    Mom said I should not talk to cretins!

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                    • I don't believe so no. That was the Cornerstone initiative and related to condos/rentals.


                      Ottawa-Edmonton-Vancouver-Edmonton

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                      • Thanks Ian. Was the Cornerstone initiative aimed at 30% of ones income, or is that something else? I'm well aware of the First Edmonton, or Edmonton First program to get first time buyers into the Condo market. The Survey we did at Banister last year covered that in depth.
                        Mom said I should not talk to cretins!

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                        • https://www.edmonton.ca/programs_ser...s-housing.aspx

                          Info on Cornerstones, Cornerstones II, First Place, HomeEd & the rest is all there.
                          Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

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                          • Originally posted by bolo View Post
                            After reading the rumors on this thread about the lack of interest in the condos and Urban Capital pulling out, I was curious why they kept up the facade of building a condo tower during the recent rezoning application with city council. They were probably well aware it would be rentals, so I think it was a bit disingenuous the way it was presented. I wonder if that might have had an effect on what ended up being a split decision.
                            What difference does it make from a zoning perspective whether the upper portion of the building is condos or apartments, if the overall design remains the same?

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                            • Originally posted by noodle View Post
                              https://www.edmonton.ca/programs_ser...s-housing.aspx

                              Info on Cornerstones, Cornerstones II, First Place, HomeEd & the rest is all there.
                              Thanks noodle. That was the survey we did on First place. Not to be confused with the office tower above Corona station.
                              Mom said I should not talk to cretins!

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                              • Job No 342592192-001
                                Description: To install (1) Projecting On-premises Sign (ROYALE BURGERS & BEER)
                                Location: 10145 - 104 STREET NW
                                Plan NB1 Blk 3 Lot 162
                                Applicant: CITY IMAGE SIGNS
                                Status: Intake - Payment Required
                                Create Date: 10/1/2019 3:40:57 PM

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