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MichaelS

MichaelS

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MichaelS said:
The next big project has been applied for. No further details that I can see as of yet:
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The drawings for this one have been posted. Interestingly, it is not Autum by Homes by Avi. It is a JaymanBuilt project. The PDF is being quite glitchy for me unfortunately, so I am not sure if I am getting all of the details from them, but it is clearly shown as Jayman Built as the client. I am calling the project McLaurin Street for now, as I don't see any other specific branding/marketing (might be the glitches), but at least some renderings are clear:
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I've made some updates to the 2nd post of this thread to be more current with project status, and have included this project in the overall community map, which the most current form is below:
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Interesting that UD, SpringBank and West District (plus other suburban centres ) are booming. Can’t get the buildings up quick enough. But the traditional residential areas just can’t get going. It’s like People are still hesitant to buy in the Beltline/Downtown still.
 
Golfing guy said:
It’s like People are still hesitant to buy in the Beltline/Downtown still.
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People are 100% hesitant. It’s one thing to rent in EV or Beltline, but purchasing is a different story. University District and West District are much safer options from an investment point of view.
 
I'm not surprised. Obviously the connection to the UofC is a great plus for many students/investors, but for many others, UD is like Urbanity Lite... it gives you 80% of the inner-city vibe, but without many of the downsides (street ruffians, rush-hour gridlock, motorbikes racing down your street at 2am...). Your average purchaser is going to be older than your average renter, so probably doesn't need (or want) that hardcore inner city experience anymore.
 
Similar to the Brookfield development North of it, seems to be targeting retirees and the pricing is pretty up there (1.2M for 1362 sqft....). Surprised they were able to move enough units so quickly.
 
Mountain Man said:
Is downtown and the beltline not booming still? There are probably 1000 units going to be done this year and probably double that going through the process at the city.
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Plus all the residential conversions taking place are adding a bunch of units. With about a dozen (I think?) conversions either underway or soon to be underway, that's a lot of residential units being added in existing buildings.
 
Mountain Man said:
Is downtown and the beltline not booming still? There are probably 1000 units going to be done this year and probably double that going through the process at the city.
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Downtown and Beltline are booming, but not the same way it is in university district, from an owner-occupant perspective.
Most of the units being built in downtown are either purpose built rentals or condos targeted specifically to investors who are going to rent them out.
The sites in University District have sales centres and are promoting sales more to locals who are looking to live in their purchase.
 
When it comes to buying, people are understandably more cautious. The core has its virtues, but also has its downsides. As Discostu previously stated, University District gives you a quasi urban experience without the downsides.
 
It appeals to a different group of buyers. But for these prices you must really value the no stairs/less maintenance (retirees), not just the environment. Compared to similar walkable inner city neighborhoods, these units are priced similar/higher than new single detached in Hillhurst, Parkdale, and surrounding areas.
 
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