The New Arena Thread
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03-01-2014, 11:01 AM
Join Date: Apr 2005
Originally Posted by
You build high office/apartment towers to make money. Edmonton is one of the hottest real estate markets in NA right now so I'm not surprised at all. Look at Calgary and the amount of huge skyscrapers they have. I think we'll end having a few 40-50 floor towers and a bunch right around that 30 mark, especially with a revitalized downtown. Lets remember that companies don't have to use the whole building and can rent out/sell suites/floors to smaller companies/residents.
Suburban Edmonton is one of the hottest real estate markets. Not necessarily downtown Edmonton (albeit much improvement in that sector)
No serious comparison can be made with Calgary which is regional head office territory for virtually any Oil related firm and who have the most head offices found west of Toronto.
Calgary is an entirely different game. EPCOR was the first office tower to go up in downtown Edmonton in decades.
Not many people live in Downtown Edmonton area either, and while that number is increasing there is going to already be a glut in that market with recent builds that have gone up or are not yet completed.
Next, and architects can speak to this a lot more than I can but building high in Edmonton Region is dependent on lot soil conditions and requires extensive cost building substrata to stabilize towers. With the higher you go incurring significant cost. These are not the best soil strata conditions for building high towers here.
Again why would anybody incur such cost when land prices are really not prohibitive?
Next, why would say an Oil firm even build a tower downtown. They can build headquarters anywhere and with much of this also taking place in the burbs. Anything even remotely do do with the Oil or supply industry is located, headquartered in the burbs for sake of cost efficacy, efficiency, and with Henday delivering on that.
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