Place 800 | 68m | 17s | Peoplefirst

[Surrealplaces]

The Teck Place conversion is still under construction. The webpage lists it as coming soon and no details on the floor plans or pricing have been released yet.

Edit: Looks like The Loft was literally just completed today as well lol

Oh okay, I was looking at the Teck building yesterday at night and it looked like people had moved into it already. I didn't look very closely, probably workers doing a bit of OT.

 

[Cgloins]

 

[Roaring Flames]

Wait are they only replacing the windows? Wasn't this one supposed to get a terribly ugly new facade?

 

[Vicwest9]

New exterior wall with air seal, then new windows followed by subgirt system, insulation and new cladding over old precast and new exterior wall. Time will tell how ugly it looks.

 

[Garceyues]

 

[Chowda7]

Canada announces the construction of 204 homes in Calgary

Canada announces the construction of 204 homes in Calgary.

www.cmhc-schl.gc.ca

 

[Golfing guy]

204/$80 Million is like $400,000 per rental unit. That seems quite steep considering the building is already there?

 

[MichaelS]

You could buy more condos on the market for that price. I guess you couldn't get them all in one building but still, not sure this is the best value.

 

[TooBizzy]

204/$80 Million is like $400,000 per rental unit. That seems quite steep considering the building is already there?

These subsidy per unit values always work out pretty high, I have a feeling that this also includes maintenance costs over the lifecycle that rent alone won't pay - just my speculation though.

 

[Beltline_B]

The cost does seem high for a building already built, especially when you consider the parkade, and all the concrete which is the most expensive part is already done.
Kings by Lacaille is less cost to build ($71 million) for 268 units
Maybe you’re right that it’s related to longer term costs.
.

 

[Beltline_B]

These subsidy per unit values always work out pretty high, I have a feeling that this also includes maintenance costs over the lifecycle that rent alone won't pay - just my speculation though.

The cost does seem high for a building already built, especially when you consider the parkade, and all the concrete which is the most expensive part is already done.
Kings by Lacaille is less cost to build ($71 million) for 268 units
Maybe you’re right that it’s related to longer term costs.
.

 

[heritageguy]

That 83m will include the cost of the land/building which would have been appraised at a lift from what PeopleFirst paid. I'm guessing it would have probably appraised at about $75/sf so that would put hard/soft at about $330/sf.