1116 - 7th Ave SW | ?m | 12s | Cidex Group | NORR

haltcatchfire said:
Left unregulated those issues will continue to hit other centers. In high demand areas, once you're likely to consistently earn more off your property as an AirBnb than a long term rental I could see many people doing so, even in Calgary.
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Yeah, I can see it becoming more popular in Calgary too. Calgary may not be a resort town in itself, but the proximity to Banff is enough to drive sales for AirBnB here in the city where there are lots of new units being built.
 
For what it's worth, most of N3 in EV is rented out on AirBNB, considerable amounts in all of the other residential towers in the EV and the newer stuff in the Beltline as well.
 
I can see the summer being a market for AirBnB in Calgary. My own building seem a like a hotel in July & Aug with people coming and going with suitcases. However, you can't depend on that demand in other seasons. I would not want to rely on that revenue stream if I was paying a mortgage on a condo.
As owners in the building, we are keeping a close eye on this type of use. All it will probably take is one serious incident by an AirBnB user, and we would change the condo by-laws to forbid it.
 
Meikkhaell said:
Respectfully, you never implied only in Calgary either. You said "overall rental/hospitality market," which could mean Calgary's market, Alberta's market, Canada's market, the global market, etc and it's anyone's guess which one you meant.

I haven't noticed a ton of AirBNB activity in Calgary specifically either, but it's huge in other cities and is an issue for their respective markets. Like the Uber vs Taxis thing, there's either going to be government regulation that restricts AirBNB-type companies, or a massive paradigm shift that sees hotels falling out of favor and AirBNB becoming the new norm. It's hard to compete with something that has both cheaper overhead costs and cheaper rates for customers, so if AirBNB did happen to get super popular here, the government would have to help hotels out.

I don't think it'll affect Calgary very much either, but it definitely could. Either way, it's not like 1 small building will tip the scales.
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I disagree. It's a Calgary focused forum. The 1000 hotel rooms and a Residence Inn is not a generalization that could fill in for a 100 different things either.
 
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Hi
I think once this Project gets some more work done it will offer Clients and those in the Areas something worth considering. The developer s known for offering
Top Quality Projects in the work that he builds. I will B interested to see where this Project is Looking like in a few Months Time.

Tnx,
Operater.
 
Cidex is known for top quality? I disagree with that, they are known for cutting cost everywhere they can get away with it. Only developer I've seen use 2 1/2" steel studs for partitions...
 
Cidex is absolutely NOT known for their quality. All I've ever heard are complaints from people who have lived in Aura.
 
That's not good news for any institutional investors backing Cidex developments.
 
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