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Calgary real estate market

JonnyCanuck

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I was wondering of the interest rates are affecting any of the larger projects. We've seen a slew of highrise builds starting over the last 2-3 years, but not much coming down the pipe from what I can see. I get the sense Lofts on 4th could be starting, and maybe the 2nd phase of Park Point, but not much else ready to go after that.
The vast majority of new multi-family projects in process are still purpose built rentals. There is the odd low rise condo project for sale in the suburbs but other than that, the favourable housing market did not create a spike in hi-rise projects. I doubt higher interest rates are going to change much in this segment.

A couple of projects like Graywood's Eau Claire and Minto's Era were sold out to investors (mostly out of town) for the purpose of rental. I heard that both developers were providing guarantees to buyers for the first two years of rental.
 

Mountain Man

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I've heard of a few multi family projects being shelved, banks don't want to approve financing with interest rates rising apparently. Probably not the soundest finances if that's enough to scare the banks off, but still...
 

darwink

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I've heard of a few multi family projects being shelved, banks don't want to approve financing with interest rates rising apparently. Probably not the soundest finances if that's enough to scare the banks off, but still...
Small developers new to the rental game?
 

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