Quote:
Originally Posted by Doug
Difficult to assess from the renderings, but I think I like it. I have a soft spot for angular, 80's style designs. The developer is taking a huge risk by bringing such a large number of rental units to market. The location is more suited to office development, being along the railway line.
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risk? If they listed all those units this morning they'd be all gone by tonight. You must be underestimating the demand of living in the core right now. People have really hit their limit with Calgary traffic and world beating parking rates. Not only are new people coming to Calgary looking at living near where they work (majority in downtown) and many that already live here are looking to sell in the burbs and move in downtown. This shift is causing a huge pressure on anything livable within the inner city. Even if they're not all filled right away, more rentals will free up condos purchased by investors for rental purposes. So in the end, more rentals just help bring us to a more balanced market which is beneficial for everyone.