The Downtown Condo Thread

[kenny]

Originally posted by Sugarphreak
Wow, I can't remember the last time a rental building went up


The only one I can think of that was similar was the Mustards Seeds "Homeless Tower"... which as far as I know has never actually gotten anywhere.

There are a few rental only apartments in planning stage and I think one has just broken ground in beltline. I wonder how this will affect the rental market with what I'm guessing is about 500-600 units coming online.

http://mapleprojectsinc.com/

[flipstah]

Originally posted by kenny


There are a few rental only apartments in planning stage and I think one has just broken ground in beltline. I wonder how this will affect the rental market with what I'm guessing is about 500-600 units coming online.

http://mapleprojectsinc.com/

It'll level out demand with increase in supply so prices SHOULD go down.

[ercchry]

Originally posted by flipstah


It'll level out demand with increase in supply so prices SHOULD go down.

im going with roll out will be over a long enough period that prices will stay stagnant

[BananaFob]

Originally posted by ercchry


im going with roll out will be over a long enough period that prices will stay stagnant

+1

[BigMass]

when 50,000 people/year come to Calgary, a 500 unit condo development = zero, nothing meaningless. Need about 10 of those every year to even make an impact. That is one of the main reason of the housing shortage in Calgary and rising prices. Tons of land all around this city even inner city, but it takes China less time to build an entire city than it does Calgary to build a 4 level wood frame lowrise.

[BananaFob]

Originally posted by BigMass
when 50,000 people/year come to Calgary, a 500 unit condo development = zero, nothing meaningless. Need about 10 of those every year to even make an impact. That is one of the main reason of the housing shortage in Calgary and rising prices. Tons of land all around this city even inner city, but it takes China less time to build an entire city than it does Calgary to build a 4 level wood frame lowrise.

There actually isn't a ton of land available around the city anymore. You can thank Rollin Stanley and good ol' Naheed for that. Permits, land use amendments etc. are stalled hard at city council at the moment so most of the developers are trying to keep their trades busy with multi-family projects or infill spec homes. This is really what's driving up prices, it's completely artificially lowered supply.

[BigMass]

Originally posted by BananaFob


There actually isn't a ton of land available around the city anymore. You can thank Rollin Stanley and good ol' Naheed for that. Permits, land use amendments etc. are stalled hard at city council at the moment so most of the developers are trying to keep their trades busy with multi-family projects or infill spec homes. This is really what's driving up prices, it's completely artificially lowered supply.

there's tons of land. But i agree, whether it's available to buy or develop is another discussion. But jesus, even in the inner city there are so many empty lots, dirt lots, empty spaces. You could put up another 20 skyscrapers without even demoing any existing buildings. Now if we factor in all the junk that can be demoed and replaced with a 50 story skyscraper you could put another 10 million people within the current city limits without breaking a sweat lol. All through the city there is so much land just sitting there doing nothing. Dirt lots as far as the eye can see. If Calgary had the density of a normal European city we could fit 20 million in our city limits lol. So yeah, artificial low supply? Damn right! That's why the market is insane. It's one thing to pay millions for a place in Manhattan, San Francisco, London, Tokyo or even Vancouver. Calgary has none of that type of REAL shortage.

[BananaFob]

Originally posted by BigMass


there's tons of land. But i agree, whether it's available to buy or develop is another discussion. But jesus, even in the inner city there are so many empty lots, dirt lots, empty spaces. You could put up another 20 skyscrapers without even demoing any existing buildings. Now if we factor in all the junk that can be demoed and replaced with a 50 story skyscraper you could put another 10 million people within the current city limits without breaking a sweat lol. All through the city there is so much land just sitting there doing nothing. Dirt lots as far as the eye can see. If Calgary had the density of a normal European city we could fit 20 million in our city limits lol. So yeah, artificial low supply? Damn right! That's why the market is insane. It's one thing to pay millions for a place in Manhattan, San Francisco, London, Tokyo or even Vancouver. Calgary has none of that type of REAL shortage.

Oh absolutely. I agree 100%, land availability in the true sense is not in short supply, but land zoned and ready to go is not. There's HUGE political risk for any site you buy right now that has to go through a land use amendment. It's just not worth it right now.

[jwslam]

Originally posted by BigMass
you could put another 10 million people within the current city limits without breaking a sweat lol.

Our infrastructure bring designed for 600k population and you wanna put 9 million more shitty drivers here? I'm totally gonna have to gtfo...

[cyra1ax]

For those wondering about Waterfront, I got a call last week to confirm contact details. Looks like the release party is happening sometime next month.

[mac_82]

Sorry if I missed it, but does anyone have any thoughts on the SoBow in Inglewood? The 1912cross building still has units available. Move in Dec-Jan.

[BigMass]

Originally posted by jwslam

Our infrastructure bring designed for 600k population and you wanna put 9 million more shitty drivers here? I'm totally gonna have to gtfo...

That wasn't the point though. I'm just talking about space. Obviously Calgary doesn't have the infrastructure for it. But if this was a European city we could fit 10-15 million inside our city limits easily. Subway systems, multiple centers, way more apartments, etc. The point is, artificially inflated value and scarcity due to slow construction rather than a real shortage of space. I'd be far more comfortable, as an investment, buying a condo in London, Paris or Manhattan vs Calgary. It's common sense really. In Calgary the only thing stopping construction from meeting demand is time. Eventually we will meet all demand and maybe overshoot it and end up with over supply. In Manhattan, to increase supply, you tear down a 50 story 20 billion dollar building and putting up a 100 story building in it's place. WAY tougher and cost prohibitive. Calgary is one of the best places to live in the world no doubt but people need to let go of the complete nut hugging when it comes to our over inflated property prices.

[jmintz]

Originally posted by mac_82
Sorry if I missed it, but does anyone have any thoughts on the SoBow in Inglewood? The 1912cross building still has units available. Move in Dec-Jan.

I bought into 1912cross this year, 1000 sqft 1 bed, 2 bath plus den. Love everything about it and can't wait to move in this winter.

I went in to see how things were progressing a few months ago and their west wing which was released a few months ago is probably 10% sold so there are still a lot of units available. East wing which I bought into is probably 70-80% sold.

Lots of 'standard' things that would normally be upgrades or just nonexistent in most lowrise condos such as concrete construction, hardwood, gas burner stoves, air conditioning, and a 12000 sqft gym.

Condo fees are about 40c / sqft incl everything except electricity.

[mac_82]

Originally posted by jmintz


I bought into 1912cross this year, 1000 sqft 1 bed, 2 bath plus den. Love everything about it and can't wait to move in this winter.

I went in to see how things were progressing a few months ago and their west wing which was released a few months ago is probably 10% sold so there are still a lot of units available. East wing which I bought into is probably 70-80% sold.

Lots of 'standard' things that would normally be upgrades or just nonexistent in most lowrise condos such as concrete construction, hardwood, gas burner stoves, air conditioning, and a 12000 sqft gym.

Condo fees are about 40c / sqft incl everything except electricity.

That's the unit I was looking at. 1 bed 2 bath + flex room. What floor are you on? Everything about the building looks amazing. Not 100% sold on the location though. I spend most of my time on the west end of the city.

Only other negative was the 1/2 size dishwasher. The fact that the units are amazing, have high efficiency everything, and have gas lines on the deck have me almost sold.

[samo147]

How do people get to the core from that building(SoBow)? Forest lawn bus? Bike? Walk? I noticed there are train tracks close to there. Is the train loud when it goes by?

[Neil4Speed]

Originally posted by mac_82


Only other negative was the 1/2 size dishwasher. The fact that the units are amazing, have high efficiency everything, and have gas lines on the deck have me almost sold.

If its only you, and maybe one other, the 1/2 size dishwasher is pretty great. I have one and rarely wish that I had a larger one.

[chkolny541]

Originally posted by jmintz


I bought into 1912cross this year, 1000 sqft 1 bed, 2 bath plus den. Love everything about it and can't wait to move in this winter.

I went in to see how things were progressing a few months ago and their west wing which was released a few months ago is probably 10% sold so there are still a lot of units available. East wing which I bought into is probably 70-80% sold.

Lots of 'standard' things that would normally be upgrades or just nonexistent in most lowrise condos such as concrete construction, hardwood, gas burner stoves, air conditioning, and a 12000 sqft gym.

Condo fees are about 40c / sqft incl everything except electricity.

I get them mixed up, but is SoBow the ones without balconies or is that 1912cross?

[jmintz]

Originally posted by mac_82


That's the unit I was looking at. 1 bed 2 bath + flex room. What floor are you on? Everything about the building looks amazing. Not 100% sold on the location though. I spend most of my time on the west end of the city.

Only other negative was the 1/2 size dishwasher. The fact that the units are amazing, have high efficiency everything, and have gas lines on the deck have me almost sold.

I am on 5/6. The top two floors get floor to ceiling windows and larger decks I will be living on my own so a half size dishwasher doesn't bug me at all but it is upgradable.

[jmintz]

Originally posted by chkolny541


I get them mixed up, but is SoBow the ones without balconies or is that 1912cross?

SoBow is the name for the master-planned development which I believe is 5 or 6 phases, 1912cross being the second phase. Right on Pearce Estate Park and the river, close to downtown and close to hop onto Deerfoot and some of the other major roads. Pretty good location if you ask me.

[jmintz]

Originally posted by samo147
How do people get to the core from that building(SoBow)? Forest lawn bus? Bike? Walk? I noticed there are train tracks close to there. Is the train loud when it goes by?

I plan on taking the Number 1 or car2go until my company moves to Quarry Park which will be great for me cause then I can drive and not have to pay for parking. Biking is definitely doable and walking is probably 30-45 mins. It's not near Alyth where all of the train swaps happen but there is one track that goes by the west end of Pearce Estate Park, though I never saw or heard a train go through that area and I've been at the sales centre many times.

I noticed quite a few planes go overhead and this is really noticeable standing in the sales centre. The sales team will tell you it's cause it's a cabin with no real structural walls which I think is half true. Good thing though is the new runway will redirect plane traffic further east into le ghetto.

It's not perfect location given the train is relatively nearby and planes are flying overhead more than I'm used to in the NW but I think the quality the condo offers at the price point they are asking makes up for this IMO.