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
ReachWest said:
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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Have you reached out to your local councillor?
 
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ReachWest said:
I have not done so personally, but a few others I know in the area have.
I know BOSA has been working with the City on this issue too, as it directly impacts their investments in a negative way.
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Its so annoying when people suffering homelessness and addiction negatively impact investments. Don't they know about the sanctity of capital? Those selfish humans should know their place.

(/S just in case)

Obviously it's tough for people living in the area who just want to be unbothered, but there's a certain irony that the commodification of housing as a capital investment is a contributing factor in homelessness, as is a drug crisis which also has roots in capital commodification of pharmaceuticals. Like, who would have thought that focusing entirely on investment returns might have negative externalities in society???
 
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We're reaping what was sowed 30 years ago when the Feds and Provinces completely abandoned housing. And, relatedly, municipalities turned to commercial real estate development as a source of revenue due to Provincial cutbacks and the desire to keep residential property taxes extremely low.
 
DiscoStu said:
25%-35% cheaper is definitely not insignificant. I'd be curious to know if the developer is still making profit, or just trying to cut bait and move on.
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These days I think high rise real estate is only an investor industry. If the numbers work they’ll sell, and a 25-35% advantage certainly helps.
I remember the days when condos had their sales office with salespeople selling on the location and amenities, etc even the building’s materials lol
 
trtcttc said:
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
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I don’t know what rents are going for in the East tower, but I agree with you. If the price is right, people will rent units there. At least in a low vacancy market. With higher vacancy it might be more of an issue as people would have more options and would pay more to be in an area like west Beltline.
 
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