11th + 11th | 138.07m | 44s | Intergulf | Ramsay Worden

[Operater]

Hi All,

When I Live in Mtl, I Worked in Appraisal for 4 Years. Learned a LOT about what Property, Housing etc was all About. Won't say Property/Land or Housing will Go UP or
Down etc, When I Moved to Canada - Calgary Based on What I knew from Back Home I still use that Infrormation still on Real Estate on Property/Prices etc. Tells Me a Lot. Houses, Apts, Condos Can B an Interesting Market if You do Your Homework and know what your Looking for.

Tnx,
Operater,

 

[kora]

Demo permit issued

 

[JonnyCanuck]

Wow ... if 11 &11 starts this year, that will be almost 2100 new apartments under construction for The Beltline alone

11 & 11 - 369 units
Curtis Block - 647
Hines 500 - 463
Underwood Tower - 225
Plus
Strategic One - 379

with another 300 (Marriot residences) coming to market this year.

 

[Surrealplaces]

Add in One Tower, which I have heard on good authority is going ahead, and were just shy of 2000 units u/c.

 

[Mountain Man]

I wonder how many of those 2000 units will go unsold and add to the glut of condos...

 

[MichaelS]

Are any of them condos? I think they are all rental units.

 

[JonnyCanuck]

They are all rentals.

 

[haltcatchfire]

This and West Village are going to add some nice height on the west to balance out the Guardians on the east end!

 

[gsunnyg]

You would think that since the new mortgage stress rules in January they would have at least sparked a mini condo boom or at least helped absorb a lot of the glut of condos unsold. My reasoning being that since many people have been squeezed out of qualifying for larger mortgages they would have turned to condos and townhomes as a form of home ownership. However this hasn't been the case. On the other hand, the condo boom is still going strong in Vancouver largely due to this reason, the typical middle class in vancouver has been knocked out of qualifying for a single detached home so they have now turned to condos in hopes of some form of home ownership. However, i do realize home prices were already too absurd for the avg. middle class worker in Vancouver but I'm sure the mortgage stress rules would have just been the overkill. I wonder if we'll see a trend like this in Calgary soon once people adjust their expectations.

 

[Urb]

The name for this project is now called 'Point Tower'

Hi SP - this is being developed by Intergulf only. Cidex is not involved. I believe these two groups have a strong disdain for one another.

 

[JonnyCanuck]

Yes. It seems their name was changed to Intergulf Group. I think the falling out between the two companies was over Westgate Park.

 

[Cowtown]

Yes. It seems their name was changed to Intergulf Group. I think the falling out between the two companies was over Westgate Park.

Didn't the two also do Aura Towers, or was that Cidex only?

 

[Mountain Man]

Cidex was alone on the Aura towers, same with West Village.

 

[kora]

Demo underway

 

[Cowtown]

Cidex was alone on the Aura towers, same with West Village.

Thanks! Glad this one is Intergulf.