1216 8th Street | 87m | 28s | Great West Life | Zeidler

heritageguy said:
I doubt they will proceed within the next year. High rise doesnt make much sense these days
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High rises don’t make sense because there are 11 high rises currently under construction in the downtown? Or they don’t make sense in general?
With 11 downtowb res towers already u/c and 2 or 3 starting soon it might not make sense, but the city has averaged around 10 under construction at any time.
With Nest, Sovereign, Francesco and Yellowstone finishing up in 2026, it’ll time to bring on some more.
 
Calgary is overbuilt and high rise is too expensive especially for developers who arent vertically integrated with in house construction like GWL. The rental market has a poor outlook for the next year - rents expected to continue to decline and vacancy increase. 2026 should see a big drop in multifamily construction starts
 
These buildings are built looking years down the road. Many times over the years people have said developers have overbuilt, but buildings keep going up because they’ll get filled eventually.
Population growth will slow, but growth will still happen.
 
Cowtown said:
These buildings are built looking years down the road. Many times over the years people have said developers have overbuilt, but buildings keep going up because they’ll get filled eventually.
Population growth will slow, but growth will still happen.
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Developers do try and look years down the road but the road ahead doesn't look good. Growth will still happen but im expecting starts to drop a good 20% in 2026. Supply is far outpacing demand because of the zero growth immigration plan for 2026. Interprovincial growth is also slowing and no where large enough to absorb the supply coming to market. We are also basically done the rate cut cycle so developers should be underwriting more expensive takeout debt upon completion. A lot of headwinds ahead and risky to build now
 
heritageguy said:
Developers do try and look years down the road but the road ahead doesn't look good. Growth will still happen but im expecting starts to drop a good 20% in 2026. Supply is far outpacing demand because of the zero growth immigration plan for 2026. Interprovincial growth is also slowing and no where large enough to absorb the supply coming to market. We are also basically done the rate cut cycle so developers should be underwriting more expensive takeout debt upon completion. A lot of headwinds ahead and risky to build now
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Wait 'til you see what this Council does to TOD and infill plans - giant towers Downtown might be the only kind of housing with political certainty for the next 4 years.
 
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TooBizzy said:
Wait 'til you see what this Council does to TOD and infill plans - giant towers Downtown might be the only kind of housing with political certainty for the next 4 years.
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What are their plans in regards to TOD? Doesn't seem like there is a ton of that happening anyways. And plus, the more people downtown the better these days.
 
heritageguy said:
Developers do try and look years down the road but the road ahead doesn't look good. Growth will still happen but im expecting starts to drop a good 20% in 2026. Supply is far outpacing demand because of the zero growth immigration plan for 2026. Interprovincial growth is also slowing and no where large enough to absorb the supply coming to market. We are also basically done the rate cut cycle so developers should be underwriting more expensive takeout debt upon completion. A lot of headwinds ahead and risky to build now
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I'm so happy the feds have slashed immigration to the country. The real estate market is softening, rents are declining and if the job market holds up then maybe people in my generation can afford to buy a place in 2026 and 2027.
 
Rusteez42 said:
What are their plans in regards to TOD? Doesn't seem like there is a ton of that happening anyways. And plus, the more people downtown the better these days.
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CMLC is going ahead on a few sites, and I feel optimistic that a few other locations will come on board soon, with Cllr. Schmidt really passionate about making a plan for the now City-owned Westbrook Station. At the same time we have Councillors calling a 600m radius around LRT stations "a mini-blanket" in reference to allowing townhomes and rowhouses there. So I'm cautiously waiting for what kind of bizarre vision they are cooking up for zoning over the next few months.
 
TooBizzy said:
CMLC is going ahead on a few sites, and I feel optimistic that a few other locations will come on board soon, with Cllr. Schmidt really passionate about making a plan for the now City-owned Westbrook Station. At the same time we have Councillors calling a 600m radius around LRT stations "a mini-blanket" in reference to allowing townhomes and rowhouses there. So I'm cautiously waiting for what kind of bizarre vision they are cooking up for zoning over the next few months.
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Are you aware of any quotes coming from Schmidt on the Westbrook TOD? Or even media materials from the CMLC on TODs?
 
pdubs015 said:
I"m wondering if you saw news articles or something on one of the websites so I could research it further. Calm down.
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Alright, just checking. "Are you aware?" is a pretty passive aggressive way of saying "Could you provide?" so I don't think I'm out of pocket to.

www.calgarymlc.ca

Transit-Oriented Communities | Calgary Municipal Land Corporation

Activating development opportunities on City-owned lands along Calgary’s LRT network.
www.calgarymlc.ca www.calgarymlc.ca


No good news apart from this really. Both at pretty early stages, but both credible efforts.
 
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