Verve | 82.60m | 25s | Fram | Giannone Petricone

General rating of this project

  • Great

    Votes: 5 13.2%
  • Very Good

    Votes: 11 28.9%
  • Good

    Votes: 17 44.7%
  • So So

    Votes: 5 13.2%
  • Not Very Good

    Votes: 0 0.0%
  • Terrible

    Votes: 0 0.0%

  • Total voters
    38

Cyric

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They'll do Vibe and that's it for them in EV.
I believe they still own the N block (spece to the east of M2) and the Riverhouse site (West of Simmons) but I expect it will be a few years before anything happens with either of those sites.
 

CCF

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I believe they still own the N block (spece to the east of M2) and the Riverhouse site (West of Simmons) but I expect it will be a few years before anything happens with either of those sites.
Nope - those are back under the direction of CMLC.
 

Calgcouver

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Nope - those are back under the direction of CMLC.
Anyone know if and when CMLC might put the land up for sale again? I don't know if Fram + Slokker has any more land they are developing in Calgary, it doesn't look like it. That is a pretty significant move for F + S to exit the Calgary market, they seemed intent on making a go of it in East Village. Anyone have any connection to Fram and know what the rationale was behind dumping their EV sites back on CMLC?
 

Surrealplaces

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Anyone know if and when CMLC might put the land up for sale again? I don't know if Fram + Slokker has any more land they are developing in Calgary, it doesn't look like it. That is a pretty significant move for F + S to exit the Calgary market, they seemed intent on making a go of it in East Village. Anyone have any connection to Fram and know what the rationale was behind dumping their EV sites back on CMLC?
I don't have any insight with Fram, but they are condo builders, and my guess is they didn't want to wait for the market to pick up again. I think the condo market will continue along at a quiet pace for a while, having the odd project here and there in areas with the right location, etc.. For example, Battistella's latest is condo, and it's in a location where there are lots of rentals, and not many condos, and any condos that are in the area are older buildings. Personally, I think EV has hit a saturation point for condos, and we won't see any new ones there for a while.
 

UrbanWarrior

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I don't have any insight with Fram, but they are condo builders, and my guess is they didn't want to wait for the market to pick up again. I think the condo market will continue along at a quiet pace for a while, having the odd project here and there in areas with the right location, etc.. For example, Battistella's latest is condo, and it's in a location where there are lots of rentals, and not many condos, and any condos that are in the area are older buildings. Personally, I think EV has hit a saturation point for condos, and we won't see any new ones there for a while.
Booo!

However, I think F + S is still planning to launch Vibe within the next 12 months.
 

maestro

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Disappointing to hear a developer has lost confidence in the East Village.
 

DiscoStu

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I wish they had more office condos in EV (or Calgary in general). The location would be perfect for my design studio, but there's very little available. I think it's a bit of an underserved market in Calgary.
 

Calgcouver

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Disappointing to hear a developer has lost confidence in the East Village.
I want to see what CMLC decides to price these lots at, I was talking with another developer and we both want to crunch the numbers and see if we could make these sites work.

Surreal, agreed, EV is at saturation for condos currently.

DiscoStu, i don't know why office condos are hard to sell, but they are. Lots of commercial tenants seem to want to buy in theory (especially medical office) but i haven't seen pre-sales go great on very many of them.
 

Cowtown

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Disappointing to hear a developer has lost confidence in the East Village.
Lost confidence or just taking a break? I agree with surreal and Calgouver that EV is most likely a saturated market for condos. I don't know if anyone has lost confidence in the neighbourhood, but rather in the ability to sell condos, which is the case in all neighbourhoods.
 

maestro

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Are you implying Fram Slokker may buy back into the East Village at some point in the future? Otherwise, it's pretty firm they have lost confidence in the East Village. There's still hundreds of developers to fill the void they left. It's still news you don't want to here as it will delay full build out.
 

CCF

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In case anyone is curious of the confirmed retail tenants to date...

Good Earth
Panago Pizza
Barber Culture
Hart Healthy Foods
A medical office
FRAM will keep one retail bay for their own purposes

I believe that leaves one CRU yet to be leased.
 

Surrealplaces

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Good Earth and Panago are good additions to the neighborhood. A couple of cheaper options for residents, and also for visitors whop come in along the Rverwalk.
 

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