Broadway on 17th | 154m | 47s | Vesta | Zeidler

Skyrise meet and greet at the Vesta sales Center on Saturday?
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I'm sure they're already selling them but I assume when the presentation centre opens on Oct 18, sales will really start. How well this project does will really be a barometer for whether some of these proposals will happen or if the time has already passed and these will be the end of cycle proposals we see just before the market turns sour. Overall, the real estate market has definitely slowed down a lot from a couple years ago, and condos already don't do that well in Calgary.
 
I agree, might be tough for them. However, I'm gonna go out on a limb and say there is probably a market for premium residences in this location. You're right at Mission, on 17th, 5 minutes from the Elbow, and a 10 minute walk to Stampede Park. Pretty sweet deal.
 
I have faith this one will get built. Vesta is pouring huge resources into marketing for the project. I also hear through the grapevine that they spent tens of millions acquiring the site and a bunch more demolishing the office building that was there. If there are two not-yet-U/C projects that I am very optimistic will proceed with at least their first phase, it's this and the Beltline Block, both for similar reasons.
 
It'll be interesting to see how the sales go. The Truman trio units sold very quickly, but I suspect part of it was Truman's rental income guarantee. Nude also had some sort of arrangement with investment buyers (though I can't recall the details). As mentioned already, this does have a great location., and with 4th street lofts, Broward, 1405, and Sovereign all within two blocks. The area will be very busy.

If this gets built, I think it would be a good place to do a scramble intersection.
 
Albertasaurus said:
I have faith this one will get built. Vesta is pouring huge resources into marketing for the project. I also hear through the grapevine that they spent tens of millions acquiring the site and a bunch more demolishing the office building that was there. If there are two not-yet-U/C projects that I am very optimistic will proceed with at least their first phase, it's this and the Beltline Block, both for similar reasons.
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It depends when Vesta started selling privately. The outside investor pool has evaporated since this was first proposed. Outside investors are the ones to overpay for the prime location.

This is also a prime spot for rental housing subsidized through a federal housing program. The mortgages will be given out anyways no matter how you view the success of this very expensive program in lowering housing costs at scale.

It's fair to say Vesta is in trouble if this doesn't get of the ground. I don't know anything about Vesta except for their large Langley including two spandrel towers. Developers, small, medium and, large in Canada are dropping like flies.
 
Surrealplaces said:
It'll be interesting to see how the sales go. The Truman trio units sold very quickly, but I suspect part of it was Truman's rental income guarantee. Nude also had some sort of arrangement with investment buyers (though I can't recall the details). As mentioned already, this does have a great location., and with 4th street lofts, Broward, 1405, and Sovereign all within two blocks. The area will be very busy.

If this gets built, I think it would be a good place to do a scramble intersection.
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The Truman trio also went on sale at the perfect time for out of province. Calgary was hot and they had lots of sale presentations in GTA, wouldn't be surprised if a decent chunk is out of province.

maestro said:
It depends when Vesta started selling privately. The outside investor pool has evaporated since this was first proposed. Outside investors are the ones to overpay for the prime location.

This is also a prime spot for rental housing subsidized through a federal housing program. The mortgages will be given out anyways no matter how you view the success of this very expensive program in lowering housing costs at scale.

It's fair to say Vesta is in trouble if this doesn't get of the ground. I don't know anything about Vesta except for their large Langley including two spandrel towers. Developers, small, medium and, large in Canada are dropping like flies.
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I think Vesta will be fine. They have a few suburban developments in Calgary too, including Aspen Village on a big plot off 17th.
 
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