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The DP was approved in 2017.

The vinyl siding is around the inset balconies. The wood slats were also removed when compared to the renderings. Very similar to the materials Wexford changed out when comparing their Elva project to their renderings. And much like Elva, even with the changes (possibly value engineering), I...

I received an email from a contact noting they are preparing to break ground for construction

These condos represent supply. Supply and demand will dictate rent price. No investor is going to leave a suite perennially vacant if they can't get their target rent. Ultimately, more supply equals lower rent price. More housed bodies downtown equals more vibrancy. And these are nice...

I like it. It's not stunning. But it's aesthetically pleasing, adds to the vibrancy of the skyline and has a good color palette. Hard to go wrong with Battistella; just solid condos at a fair price. Really good mass-market builder

Is it really acceptable for a developer of an end block to give you one nice facade and just be like "yeah ignore the 150ft wall of depressing metal facade down the other street?"

We're Gallery, Imperia or Broward marketed in Calgary at all? Or were all the condos sold to these out of town "investors"? If so, my takeaway remains that Toronto investors are "very stupid at best", but perhaps Truman is better selling to them. FWIW, I'm a fan of this strategy. I couldn't...

Pretty interesting to see this Get changed to this: And then changed to this: It's interesting...

I believe DP permit is 4-years + two renewals for 2-years each. So eight years in total

It's pretty good given the location at the corner of 14th Street and CPR tracks. Is there a worse location in all of the Beltline? I'm ecstatic it's not dead space anymore. Also impressed they built in concrete. And rents look pretty reasonable too. It's not a dream building, but it's a great...

I visited the sales center a few weeks ago. They've sold 40% of the building (mostly one bedroom suites). It seems like many of the suites that have been sold have been sold to Toronto investors. They are targeting a completion date of 2027. This project is selling at $800-$900 psf. I think...

Have a friend that works for Atlas Group in Vancouver which is some kind of real estate data company. He says it sold at $14.6m to Carslile Group on September 1 in a foreclosure sale. That's pretty close to what we all figured on this board.

That's one possible takeaway for sure. Another broader takeaway would be that if interest rates and cost remain elevated, inner-city development of in Calgary might be increasingly skewed towards these 4-6 storey, wood-frame buildings just outside (or even within) the Beltline. It might be...

If I had to speculate (and I don't, but will anyways)... I think market conditions have changed massively. With commercial rents down and interest rates up, ASI's holding cost for this parcel has probably increased substantially. As a result, they probably need to pull forward development from...

I chatted with someone on site while walking home yesterday...he suggested the Carmichael group or Carslile group or something was completing the project. Not sure if they were the contractor for the bank or if they had purchased the project.

Remember the hype around this when it was initially upzoned? 'Don't screw it up,' mayor tells developer re-doing busy central Calgary corner https://www.cbc.ca/news/canada/calgary/condon-building-busy-corner-1.5151503

Is indevelopments building this?

A realtor friend of mine once noted in passing that they were condos and the condo owners got very good prices from the developer.

If you look at the rendering on page one of this thread, it's sure looks more like brick than what the end result looks like

Interesting - any idea of the ask price? I'd back of envelope valuation at around 20,000 sf of unfinished residential at $450 psf and $1m x 6 retail bays. So that's like $15m +/- 20%? Disclaimer - I know nothing about valuing real estate