Arris - 5th and Third | 142.03m | 41s | Embassy Bosa | Amanat Architect

General rating of the project

  • Great

    Votes: 9 9.6%

  • Very good

    Votes: 45 47.9%

  • Good

    Votes: 29 30.9%

  • So So

    Votes: 7 7.4%

  • Not Very Good

    Votes: 3 3.2%

  • Terrible

    Votes: 1 1.1%
  • Total voters
    94
How is the leasing activity on the East side that's built? I imagine the West side would be better since it'll face Bow Valley College. I think the DIC is an issue but probably overcome by it's location. I'm sure Superstore, TD, Scotiabank wouldn't have opened there if they thought that was a terrible location.
 
I'm from Toronto and I have bought units from both Imperia and First & Park. I have been following this forum for a while and really appreciate all the valuable infos that I would have never received from my realtors, such as the DIC on this one. And yes, this project is selling at quite a discount, $600/sqft including parking locker with one year rental guarantee. From my understanding, this location would be discounted $100/sqft compare to Beltline or Eau Claire. Despite better amenities and interior finishes, their prices are approx 25% less than Nude and 35% less than First & Park's unsold units, which are completing in 2024 and 2025.
 
DiscoStu said:
As someone who goes by that area every day, I think you'd have to be touched in the head (or yes, out of town and unaware) to buy into Arris. Unless you're getting an absolutely screaming deal, I see zero upside to buying there when there are plenty of other options around. Newcomers are not idiots...having your block surrounded by zombies is not some normal "big city livin'" feature that one just shrugs off.
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I agree with this. Calgary's housing market has a lot of alternative options to other Canadian markets. I'll frame it another way Hiding this doesn't in some distant corner of the city doesn't help. Letting this area with so much potential be overrun with zombies doesn't help either. There are better investment opportunities. This is for someone otherwise priced out of the market to buy or rent something and a completely full west tower of these homeowners won't put up out of control zombies. There aren't enough people living around the DIC.
 
maestro said:
I agree with this. Calgary's housing market has a lot of alternative options to other Canadian markets. I'll frame it another way Hiding this doesn't in some distant corner of the city doesn't help. Letting this area with so much potential be overrun with zombies doesn't help either. There are better investment opportunities. This is for someone otherwise priced out of the market to buy or rent something and a completely full west tower of these homeowners won't put up out of control zombies. There aren't enough people living around the DIC.
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Well according to the poster above, the building is pretty much fully leased with a wait list of people wanting to rent. Seems to go against the theory that nobody would put up with the DIC for the right price
 
Hi Everyone!
I was doing a little research on this building because I (a realtor in vancouver) attended a presale event from BOSA marketing/selling this Arris building. I have been to calgary 3x in the last year so not unfamiliar with calgary, but obviously don't know the block by block nuances...which led me to these forums :)

I was trying to verify some of the things BOSA were selling us on. They said 1 bedroom rents were $2100-2400 in the East Bosa Tower. From what I can tell in this forum - there is high rental demand but not so much local ownership demand...which makes sense why they are selling it to people in Vancouver with something along the lines of "half the price of vancouver condo with almost the same price rent".
I was skeptical about 2100-2400 but with what seems like great, convenient amenities where you can shop at superstore in your slippers without going outside - I thought it might be possible. Is 2100-2400 realistic for something like this for a 1 bedroom or is BOSA blowing smoke up our bums. They offer first year free rental at $2400 a month....I am very skeptical and think it's a bait and switch obviously. Is this feasible?
 
efstuck said:
Hi Everyone!
I was doing a little research on this building because I (a realtor in vancouver) attended a presale event from BOSA marketing/selling this Arris building. I have been to calgary 3x in the last year so not unfamiliar with calgary, but obviously don't know the block by block nuances...which led me to these forums :)

I was trying to verify some of the things BOSA were selling us on. They said 1 bedroom rents were $2100-2400 in the East Bosa Tower. From what I can tell in this forum - there is high rental demand but not so much local ownership demand...which makes sense why they are selling it to people in Vancouver with something along the lines of "half the price of vancouver condo with almost the same price rent".
I was skeptical about 2100-2400 but with what seems like great, convenient amenities where you can shop at superstore in your slippers without going outside - I thought it might be possible. Is 2100-2400 realistic for something like this for a 1 bedroom or is BOSA blowing smoke up our bums. They offer first year free rental at $2400 a month....I am very skeptical and think it's a bait and switch obviously. Is this feasible?
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Lots of thoughts on this just on the last few pages.
 
efstuck said:
Hi Everyone!
I was doing a little research on this building because I (a realtor in vancouver) attended a presale event from BOSA marketing/selling this Arris building. I have been to calgary 3x in the last year so not unfamiliar with calgary, but obviously don't know the block by block nuances...which led me to these forums :)

I was trying to verify some of the things BOSA were selling us on. They said 1 bedroom rents were $2100-2400 in the East Bosa Tower. From what I can tell in this forum - there is high rental demand but not so much local ownership demand...which makes sense why they are selling it to people in Vancouver with something along the lines of "half the price of vancouver condo with almost the same price rent".
I was skeptical about 2100-2400 but with what seems like great, convenient amenities where you can shop at superstore in your slippers without going outside - I thought it might be possible. Is 2100-2400 realistic for something like this for a 1 bedroom or is BOSA blowing smoke up our bums. They offer first year free rental at $2400 a month....I am very skeptical and think it's a bait and switch obviously. Is this feasible?
Click to expand...
That could be the case. In this article they say the average price for a one bedroom apartment across Calgary is $1740.00. That's across the whole city including older buildings as well. Newer buildings in the core are more expensive, so $2100 for a one bedroom might be realistic.
 
efstuck said:
Hi Everyone!
I was doing a little research on this building because I (a realtor in vancouver) attended a presale event from BOSA marketing/selling this Arris building. I have been to calgary 3x in the last year so not unfamiliar with calgary, but obviously don't know the block by block nuances...which led me to these forums :)

I was trying to verify some of the things BOSA were selling us on. They said 1 bedroom rents were $2100-2400 in the East Bosa Tower. From what I can tell in this forum - there is high rental demand but not so much local ownership demand...which makes sense why they are selling it to people in Vancouver with something along the lines of "half the price of vancouver condo with almost the same price rent".
I was skeptical about 2100-2400 but with what seems like great, convenient amenities where you can shop at superstore in your slippers without going outside - I thought it might be possible. Is 2100-2400 realistic for something like this for a 1 bedroom or is BOSA blowing smoke up our bums. They offer first year free rental at $2400 a month....I am very skeptical and think it's a bait and switch obviously. Is this feasible?
Click to expand...

If they are quoting rents including parking+storage that seems realistic.
 
efstuck said:
Hi Everyone!
I was doing a little research on this building because I (a realtor in vancouver) attended a presale event from BOSA marketing/selling this Arris building. I have been to calgary 3x in the last year so not unfamiliar with calgary, but obviously don't know the block by block nuances...which led me to these forums :)

I was trying to verify some of the things BOSA were selling us on. They said 1 bedroom rents were $2100-2400 in the East Bosa Tower. From what I can tell in this forum - there is high rental demand but not so much local ownership demand...which makes sense why they are selling it to people in Vancouver with something along the lines of "half the price of vancouver condo with almost the same price rent".
I was skeptical about 2100-2400 but with what seems like great, convenient amenities where you can shop at superstore in your slippers without going outside - I thought it might be possible. Is 2100-2400 realistic for something like this for a 1 bedroom or is BOSA blowing smoke up our bums. They offer first year free rental at $2400 a month....I am very skeptical and think it's a bait and switch obviously. Is this feasible?
Click to expand...
I don't think they offer first year rental guarantee anymore, now is 3 months rent as closing credit
 
Well .. I live in Arris East and have since the tower opened. It's a great building - the units are spacious and the amenities are second to none. My wife and I left the housing market after years living in the inner city and owning a home in a nice neighbourhood. We decided renting is our preferred way to go for the foreseeable future as we won't be tied down.

I am told by Arris mgmt that the east tower is at 100% occupancy. (Although this fluctuates as people are moving out/in each month). EV has a whole lot going for it - BUT - the DIC issue is a growing AND serious problem down here. It has only gotten worse over the past two years that I've been here. Drug problems, public injecting, crack smoking, violence, fights, theft, public urination and deification abound down here in plain sight every day. I have seen several bodies removed and was here during one murder. It's a massive juxtaposition of purposes given the amazing architecture and work the developers have put in place to then allow this entire neighbourhood to go into the toilet with the DIC issues and the street drug problem.

I have met many (MANY) young tenants in the building (especially young women) who do not feel safe to go out the front door in the daytime (let alone at night). I have friends who don't like visiting us due to the street issues (although maybe that's just an excuse so they don't have to visit - LOL).

I am told the West tower is being marketed initially to Vancouver real estate investors who will then try to rent the units out.

I just cannot see a young Calgary couple looking for a home having to step over crack users to get to the show suite wanting to even enter the front door.

I am hopeful this ongoing street problem can be cleaned up - time will tell. It's not just the druggies who are victims - the entire community is.
 
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