Annex | 29.87m | 9s | Minto Group | Nyhoff Architecture

The house on site was demolished sometime in the last couple months, just noticed in the last few weeks though.
Two months ago is about right. They were tearing down the house because of some issues with the house itself, but still plan to go ahead. I haven’t heard any timeline yet so it might be a ways off.
 
I’m surprised Minto isn’t going rental on this one, they have rental properties all over Ontario .
 
I’m surprised Minto isn’t going rental on this one, they have rental properties all over Ontario .

I'd imagine that's the route they're gonna take with their Bridgeland project. They might have eventually thought about switching this one, but then got too far along with sales and didn't want to damage their reputation, being newcomers to the Calgary market. Just a thought.
 
I'd imagine that's the route they're gonna take with their Bridgeland project. They might have eventually thought about switching this one, but then got too far along with sales and didn't want to damage their reputation, being newcomers to the Calgary market. Just a thought.
They are selling condos in their Bridgeland project. I'm on their email list and they have been having sales events. Prices start at $190K.

 
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PCL’s sub killed the existing water lines this week. Unclear if this means Minto is moving forward soon but the permit application implies that they wil:

“From April 24-29 Cannex Contracting has a scheduled outage with Enmax Transmission at 327 9A St NW to perform water line kills on six existing water services for lots that are in development to be combined into one building. The kills will allow PCL Construction (prime contractor) to begin work drilling piles for the new building.”
 
I'd imagine that's the route they're gonna take with their Bridgeland project. They might have eventually thought about switching this one, but then got too far along with sales and didn't want to damage their reputation, being newcomers to the Calgary market. Just a thought.
Both sites make more sense as rental. Just guessing as to Minto's aversion to doing rental on these might be that there are limited comparable new rental buildings that they can point to as a success in Kensington or Bridgeland (versus the Beltline). Hard to justify assumed market rental prices on a proforma using comps that are older buildings or condos that weren't Purpose-Built Rental. They would probably wait for someone more bullish (like Bucci seems to be with Dominion) to test the market, and currently Minto might be less willing to be the leader on testing that rental market in inner-city neighbourhoods that aren't the Beltline (that don't have PBR comps).
 
I hope this project stays condo's. Of course sales have to support it however with the quantity of rentals being constructed we are at serious risk of losing balance of housing mix in the core.
 
Wow that is fantastic news.
 

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