Dārayavauš
Active Member
Then they should sell that site. That’s a prime location that needs high density.If I had to speculate (and I don't, but will anyways)...
I think market conditions have changed massively. With commercial rents down and interest rates up, ASI's holding cost for this parcel has probably increased substantially. As a result, they probably need to pull forward development from "years from now" to "asap"
Project economics are probably better to build wood-frame low-rise vs concrete mid-rise. It also requires a lower capital raise and this is a challenging time to raise capital.
So smaller, wood-frame building = easier to fund, better project economics, faster timelines. It's a sign of the times.
Their new design is good for Marda Loop or Sunnyside, but it’s terrible for 17th.
Epic failure on Calgary if they don’t stop this development from proceeding.