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Old Posted Feb 12, 2019, 12:39 AM
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Chadillaccc Chadillaccc is offline
ARTchitecture
 
Join Date: Feb 2011
Location: Cold Garden
Posts: 19,825
Quote:
Originally Posted by dleung View Post
Really nice!
Yeah man, this building starts at $1 million, and the most expensive unit I've seen in it is 8 million. Might be the most expensive building in the province, likely.


Quote:
Originally Posted by zahav View Post
Lots of Calgary construction, seems odd as their market has lots of unsold units and downward price pressure. Were these developments mostly underway before the downtown, or were they newly proposed since? Just curious, if the developers are launching new projects amid slow sales and price softness that would be odd...
Condo sales are low, but so are rental vacancy rates. Most of the residential construction we are seeing is rental. But yeah, even still the amount of activity we are seeing, especially with low/mid-rise stuff is quite an anomaly. I'm not sure on exact numbers, but I would guess as far as mid-rise (4 to 10 storeys) construction goes, we might be back up to near parity with the numbers we were seeing in the megaboom days of 2013/14. We've got at least another two skyscrapers starting construction this year, and a ton already underway that wasn't in my update.
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