News   Apr 03, 2020
Pastel Morning
 6.2K     1 
News   Apr 02, 2020
A Message to Our Readers
 7.7K     3 
News   Apr 02, 2020
Soon to be Gone
 4.6K     0 

General Construction Updates

321 units in less than a month is good news. I wonder how many were actual high-rise towers? I'm assuming their definition of condos could also be 3 or 4 storey suburban style condos as well.
 
That is fantastic news! That bodes well for the start of Underwood Tower, Orchard, Avenue West, Concord East, Park Point II, and others. Have the Myriads, Park Point II, and Avenue even started sales yet though? I'm pretty sure Concord is just selling the whole project all at once.
 
Surrealplaces said:
321 units in less than a month is good news. I wonder how many were actual high-rise towers? I'm assuming their definition of condos could also be 3 or 4 storey suburban style condos as well.
Click to expand...

Yeah, I'm sure a good amount of that 321 is probably suburban "condos", but if even 200 of them are suburban, 121 sales downtown in less than a month is pretty dang good too.
 
At that rate you can see why maybe Underwood Tower could go ahead. I'm not sure if the market will stay at that pace but if it did that's 3000 apartment condo units absorb in one year. Underwood tower might not be the only one starting up.

UrbanWarrior said:
Yeah, I'm sure a good amount of that 321 is probably suburban "condos", but if even 200 of them are suburban, 121 sales downtown in less than a month is pretty dang good too.
Click to expand...
 
UrbanWarrior said:
That is fantastic news! That bodes well for the start of Underwood Tower, Orchard, Avenue West, Concord East, Park Point II, and others. Have the Myriads, Park Point II, and Avenue even started sales yet though? I'm pretty sure Concord is just selling the whole project all at once.
Click to expand...
Underwood Tower is a rental project so its' start is independent of condo sales. Brad Lamb says Orchard could start construction in 6 months although we have heard that before. Avenue West is nearing completion but there are still plenty of units left to sell. No word on whether Concord West will start. Right now there are still 30% of the units in the East building to sell.
By all accounts Park Point One has exceeded expectations so it is possible Ph 2 could start within a year. Myriad is just taking registrations so there would have to be prolonged signs of a recovery for that to move forward, I am guessing.
 
It's great to see all those units selling, but we have to keep in mind who's buying them. Are they investors selling to other investors? Also, we'll need to see what the next couple of months are like. It could be that January was an aberration. I have heard from people that condo sales are still slow out there.
 
UrbanWarrior said:
That is fantastic news! That bodes well for the start of Underwood Tower, Orchard, Avenue West, Concord East, Park Point II, and others. Have the Myriads, Park Point II, and Avenue even started sales yet though? I'm pretty sure Concord is just selling the whole project all at once.
Click to expand...


It's good news. It has little weight on getting these developments in the ground. It states MLS which is resale, assignment (doubtful any developer would allow it in Calgary right now) and completed inventory clearance through a broker. Prebuilt is rarely listed.
 
maestro said:
It's good news. It has little weight on getting these developments in the ground. It states MLS which is resale, assignment (doubtful any developer would allow it in Calgary right now) and completed inventory clearance through a broker. Prebuilt is rarely listed.
Click to expand...
It might have some effect though. If the market is moving on existing condos, it could also (though might not) indicate that pre-built is moving better as well...though the numbers aren't showing anywhere.

Having talked to some people in condo sales, I've heard varying descriptions of the market. Some have said it's slow, but others have said, it is picking up.
 
It could. It's a somewhat different market. We need the sales figure for new condos. The good news is that there are buyers possibly taking advantage of desperation snapping up properties for good deals.

In any case, I just wanted to correct the error that these figures represented new condo sales. It was definitely implied in a few posts.
 
Does anyone know what has happened with New Urban Developments? Are they just dead in the water at this point and selling off their assets? Looking at the map of their land holdings from 2013 here: http://www.newurbanconsulting.com/uploads/AdminUploads/NewUrban_ProjectsAndLandHoldings_2013.pdf

The Curtis Block has been sold to WAM, the Renaissance ClubSport is in the process of being sold, Victoria Crossing was sold to Lamb Developments (Orchard). I seem to recall the Dominion Bridge project hitting the wall a few years back and it doesn't look like anything has progressed since then.
 
Re New Urban. That is a good question. They sure had lofty plans. I think the last project they did was the Marriot Fairfield on 12 Ave SW which was not that long ago.
 
I was talking to people from Fram + Slokker today, they have sold five units in the last few weeks :) Not bad.
 
You must log in or register to post here.

Back
Top
NEWSDATABASEMAPFORUMSERVICESUTProLOG IN
CITIES