5Th & Macleod | ?m | 50s | Great Gulf | Henriquez Partners

Hi,
I read the Calgary Restate News on the Wkds. when I see there and what I read on this site are Two completely different Views
and Opinions. Which is closer to the truth? Hard to say really. Does make for Interesting Reading. Must say if the Developers
had more confedence and trust this would put more trust in the Market Place. This would put more Money into the Economy
and Jobs on the Overall of Things. With people working etc I would hopefully presume Investors would see the Opportunities to
Invest in the Market Place as Well. With an Economy on the Rise a lot of these Projects could start to take off with out them sitting in Limbo waiting for Some One Else to Start. If Company A starts Work then the Ripple Effect is that Companies B, C, and D etc will Hopefully Start. on their Own Projects. It Increases Sales on Condos and Rentals..Will it work? Maybe, then maybe
not - hard to say.. One thing that could work is say Tax Breaks of Sorts, Could B worth looking into. Just Ideas i Wonder if they
will Work Out.
 
Operater said:
Hi,
I read the Calgary Restate News on the Wkds. when I see there and what I read on this site are Two completely different Views
and Opinions. Which is closer to the truth? Hard to say really. Does make for Interesting Reading. Must say if the Developers
had more confedence and trust this would put more trust in the Market Place. This would put more Money into the Economy
and Jobs on the Overall of Things. With people working etc I would hopefully presume Investors would see the Opportunities to
Invest in the Market Place as Well. With an Economy on the Rise a lot of these Projects could start to take off with out them sitting in Limbo waiting for Some One Else to Start. If Company A starts Work then the Ripple Effect is that Companies B, C, and D etc will Hopefully Start. on their Own Projects. It Increases Sales on Condos and Rentals..Will it work? Maybe, then maybe
not - hard to say.. One thing that could work is say Tax Breaks of Sorts, Could B worth looking into. Just Ideas i Wonder if they
will Work Out.
Click to expand...

Welcome back Operator :)
 
Real Estates a funny market. Times when it seems like a good time for development, things are quiet, and other times when the economy doesn't look great, developers are building.

Operater said:
Hi,
I read the Calgary Restate News on the Wkds. when I see there and what I read on this site are Two completely different Views
and Opinions. Which is closer to the truth? Hard to say really. Does make for Interesting Reading. Must say if the Developers
had more confedence and trust this would put more trust in the Market Place. This would put more Money into the Economy
and Jobs on the Overall of Things. With people working etc I would hopefully presume Investors would see the Opportunities to
Invest in the Market Place as Well. With an Economy on the Rise a lot of these Projects could start to take off with out them sitting in Limbo waiting for Some One Else to Start. If Company A starts Work then the Ripple Effect is that Companies B, C, and D etc will Hopefully Start. on their Own Projects. It Increases Sales on Condos and Rentals..Will it work? Maybe, then maybe
not - hard to say.. One thing that could work is say Tax Breaks of Sorts, Could B worth looking into. Just Ideas i Wonder if they
will Work Out.
Click to expand...
 
One thing for certain is that the opinions on this site are far less biased than reading the Calgary Real Estate Board's opinions. Their purpose is to broker real estate transactions.

My understanding of your post is that you want real estate development to take on more risk through speculation as some "if you build it, they will come" mantra. That is happening to a degree with rental construction but, you don't want to push it too far. Canada has a long development history failing at "if you built it , they will come" culminating in the Feds having to bail out the banks. This time overbuilding would have more dire consequences as Canada's collective social net is one of the biggest investors in rental construction.
 
maestro said:
One thing for certain is that the opinions on this site are far less biased than reading the Calgary Real Estate Board's opinions. Their purpose is to broker real estate transactions.

My understanding of your post is that you want real estate development to take on more risk through speculation as some "if you build it, they will come" mantra. That is happening to a degree with rental construction but, you don't want to push it too far. Canada has a long development history failing at "if you built it , they will come" culminating in the Feds having to bail out the banks. This time overbuilding would have more dire consequences as Canada's collective social net is one of the biggest investors in rental construction.
Click to expand...

Well articulated.
 
Even in the high demand market of Toronto, there have been several condo projects that have failed in recent years. In some cases, investment firms and private investors have been taken for tens of millions of dollars.
The Calgary market is significantly less certain and therefore developers have to approach with a lot of caution.
 
maestro said:
One thing for certain is that the opinions on this site are far less biased than reading the Calgary Real Estate Board's opinions. Their purpose is to broker real estate transactions.

My understanding of your post is that you want real estate development to take on more risk through speculation as some "if you build it, they will come" mantra. That is happening to a degree with rental construction but, you don't want to push it too far. Canada has a long development history failing at "if you built it , they will come" culminating in the Feds having to bail out the banks. This time overbuilding would have more dire consequences as Canada's collective social net is one of the biggest investors in rental construction.
Click to expand...
My post wasn't about wanting the real estate market to do something, as much as it was only an observation. To the average observer buildings should be going up when the vacancy rate is going down, or the economy 'seems' to be doing well from a media perspective, but in reality the funds financing the towers are looking at different metrics. That's all I meant.
 
I was actually responding to operator's post.

More and larger building were built when oil was booming. Perhaps, the casual observer's expectations were for everything to grind to a halt when oil crashed. The city is still gaining population and the overall economy is not as dire as it is occasionally made out to be. Office and condos are doing poorly so rentals are filling the void. Many are owned by billion dollar funds growing and diversifying their real estate portfolios.
 
Last edited:
Hi All,
This is a Project I can Live in the Long Term. Yes Its Tall. It Will Go a Long way to Developing the East
End of Calgary.. Will B Most interested To See Development Start in the Next few Years if it Happens. Inx
 
I don't believe so. They still have to demolish the old YWCA building that currently sits there. I doubt anything happens in the economic climate anytime soon. These towers look awesome and I would love to see them go up. A cool gateway into downtown from the East.
 
When there's movement on projects, it is announced on this forum within a day or less. Especially one as high profile as this.

Though with how fantastical the renders are, it is highly unlikely this will get built as proposed. It would be nice, just not within the reality of how developers here operate. The only city in the country that can pull things like this off is Vancouver, because of their laughably overblown price points.
 
Unfortunately, this one won't be happening anytime soon. By the time it does, it may end up with a new design.
 
Unfortunately high rise condos don't appear to be a good investment right now. New home buyers don't want to live in them, preferring single family or detached. Investors don't want to buy and try to rent them out as there is way too much competition from purpose rental buildings which is only going to increase. Now with the city focused on converting some office to residential that will only give further pause to condo developers (like Great Gulf/Cressey/Harvard/Qualex/Anthem) who were planning to build new ones.
 
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