7 Wagner Place : St. Albert : E4320505

Welcome to this 5 bedroom, 3 bathroom, 1285sq.ft single family home in Woodlands!
 

 

MLS#: E4320505 Welcoming and spacious 1285 sq. ft. 5-bedroom bungalow with finished basement in Woodlands. Enjoy cozy evenings in the sunken living room with fireplace and TV niche above. The living room flows to the formal dining room and kitchen with open archways. Cooking and entertaining guests are easy with the large kitchen that has a great space for a future island and view of the huge private backyard. The fully developed basement has a great layout with 2 bedrooms, an office, flex room/ exercise room. massive den area, and full bathroom. Great location with walking distance to trails, parks, and schools. Priced well below assessed value!
 
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12226 106 Street NW : Edmonton : E4318959

Welcome to this 3 bedroom, 1 bathroom, 866sq.ft single family home in Westwood!
 

 

MLS#: E4318959 Beautiful Westwood location with tree-lined streets. 3 BEDROOM 1.5 storey home with LARGE OVERSIZED NEWER double garage with back lane access, NEWER SHINGLES, AND UPGRADED electrical 100 amp panel. Spacious living room that leads to open dining room with original hardwood throughout and 4 piece bathroom on main floor down the hall. You’ll find 2 bedrooms upstairs in the loft with characteristic angled ceilings. Basement is fully finished with another kitchen, den, bedroom and laundry/storage area. Enjoy the convenience of patio door access from dining area leading to a covered deck and PRIVATE back yard with mature trees and fully fenced yard. This massive lot is 42′ x 150′. Great location offers parks, shopping and public transit & LRT nearby! Walking distance to NAIT, and Kingsway Garden Mall. Short commute to downtown. Great character home OPPORTUNITY for investor or first-time buyer!
 
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312, 15105 – 121 Street : Edmonton : E4318808

Welcome to this 2 bedroom, 1 bathroom, 776sq.ft condo in Caernarvon!
 

 

MLS#: E4318808 NEWLY RENOVATED 2-bedroom condo on TOP FLOOR in an ADULT-ONLY building! BEAUTIFUL NEW flooring, NEW lighting and fan. Recent UPGRADES to the building include windows, shingles, vinyl siding, NEW electrical, and resurfaced parking lot! This unit features a SPACIOUS living room with patio doors leading out to a north-facing balcony. Bright and open with large windows. The dining area is open to the galley-style kitchen with white cabinets and appliances. Down the hall you’ll find 2 bedrooms and the BRAND NEW 4-piece main bathroom. This unit also features an IN-SUITE STORAGE room. Two NEW LAUNDRY rooms on each floor. The building backs onto a large PARK with walking paths! Enjoy community gardening and grow fresh veggies next summer! Condo fees include heat, electricity, and water/sewer! Located close to the Castle Downs YMCA, shopping, restaurants, library, plus easy access to public transit!
 
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Edmonton industrial vacancies continue to tighten on strong demand

Distribution space the star as Alberta’s real estate markets fire up

Source

Amazon’s 2.9 million-square-foot sortation facility in Edmonton’s Acheson area completed during the third quarter. Panattoni Development

 

Edmonton’s industrial vacancy rate has fallen by nearly a third over the past year as strong demand for logistics space continues.

The city saw nation-leading uptake of industrial space of nearly 3.8 million square feet in the third quarter, according to Colliers International. While much of it was from purpose-built space in two properties, strong demand helped pushed vacancies down to 4.2 per cent versus 6 per cent a year earlier.

“Industrial is heavily driven by distribution, logistics,” said Susan Thompson, associate director of research with Colliers, noting that demand is coming from within the province as well as beyond. “There are a lot of reasons companies are now considering utilizing that. … [You] have well-educated, skilled labour in Alberta. It tends to be more affordable on housing, on rental rates. You have the ability to develop as needed.”

While Edmonton continues to lead the country in terms of vacancies, the strong uptake in space points to ongoing demand despite challenges in segments of some other markets.

While strata industrial space in B.C. is facing headwinds from rising construction costs and longer decision-making timelines, the shortage of options for large-scale users for fulfilment centres has continued. People may be paring back spending, but they’re continuing to shop online and that’s supporting the need for new space to accommodate the demand.

The largest chunk of space absorbed in Edmonton during the third quarter was the 2.9 million-square-foot Amazon sortation facility which completed in the Acheson area.

There’s more to come, too, with 10 projects totaling 1.4 million square feet commenced during the quarter, including the Pioneer Skies Business Park Buildings 1 and 2 in the Leduc-Nisku submarket and two buildings at Fulton Creek Business Park in northwest Edmonton.

Demand also remains high in Calgary, where vacancies totaled 2.2 per cent in the quarter, down from 4.9 per cent a year ago.

“Given the lack of available inventory in the market, we’re also seeing inducement compression on new deals, with landlords becoming less willing to fund improvements or offer free rent to the extent that they may have in the past,” Colliers reported. “Pre-leasing on high-quality new developments is seeing strong interest from a variety of groups, both for recently completed buildings and planned or under construction projects.”

Concern about retaining access to space is so great that many tenants are signing renewals or new leases well in advance of their existing agreements expiring.

The torrid pace of industrial activity is in stark contrast to office demand.

Calgary’s office market continues to work through a large oversupply. Vacancies fell to 27.5 per cent during the quarter from 28.6 per cent a year ago even as companies continued to right-size space requirements. Subleases now account for 18.9 per cent of vacancies, down from 22.8 per cent a year ago.

High vacancies have limited new construction in Calgary, unlike in Edmonton where tenants are moving into space purpose-built for them. This has kept overall vacancies in check, falling to 19 per cent, despite some users returning significant blocks of space to the market.

“Office construction is either very specific to a tenant, or it’s for those professional services that are tied to population growth,” Thompson said. “Suburban seems quite popular with some companies because it better enables the return to office because there’s less reliance on public transit.”

The quarter saw 73,625 square feet of office space absorbed during the quarter, all but 148 square feet in suburban markets. But the downtown market is strengthening, with further activity expected now that workers have returned from summer holidays.

“For the first time since the start of the pandemic, two new office construction projects have been announced,” Colliers noted. “Canadian Western Bank Tower in the downtown core is expected to be approximately 350,000 square feet, with only 120,000 square feet vacant once CWB takes possession.”

The tower is set to complete in 2025.

The other project on the books is EVER Square, a 125,000-square-foot medical-office building under construction at Calgary Trail and Gateway Blvd. set to complete towards the end of 2023. The office component is 78,000 square feet.

The positive absorption led to Edmonton office vacancies staying in check at 19 per cent, down marginally from 19.4 per cent a year ago.

Dura-Line completing 150K square-foot Alberta manufacturing plant

Boston-based tech firm has inked a long-term lease on facility near Edmonton that will employ up to 90 tech workers

Source

A leased industrial building at 220 Carnegie Street, St. Albert, is being transformed into a state-of-the-art manufacturing facility.

 

Officials at Boston-based Orbia’s Connectivity Solutions business, Dura-Line, are investing in a new state-of-the-art manufacturing facility in the Edmonton suburb of St. Albert, Alberta.

“Not only will this strategic location enable us to meet strong demand in the region, but it allows us to take advantage of the highly skilled labour force in Greater Edmonton,” said Dale Wilson, Dura-Line’s vice-president of sales and marketing in the U.S .and Canada.

Dura-Line, which specializes in developing Internet connection systems, currently ships into Western Canada from plants in Ontario, Utah and Nevada.

“We felt it was time for Dura-Line to put down roots in Edmonton to serve these customers even better,” Wilson said.

Dura-Line has begun retrofitting an existing building to create the 150,000 square-foot state-of-the-art facility in St. Albert and has plans to hire as many as 90 full-time employees over the next nine months – with the goal to be fully operational by spring of 2023.

Dura-Line is owned by Orbia, formerly known as Mexichem, which is a mass-producer of polymers, polyvinyl chloride, and a range of other infrastructure-based plastic products. In 2021, Orbia reported a net revenue of $8.8 billion US.

The St. Albert plant will be Dura-Line’s second Canadian facility. The other, located in Gravenhurst, Ont., is currently manufacturing all of Dura-Line’s products sold in Canada.

The new Alberta facility has been a couple of years in the making, according to Paul Sartori, the director of sales for Dura-Line in Canada.

“We see a significant upside in the Canadian market,” Sartori said in an interview. “It’s time that we step up in Canada and do what we do and really leverage that global footprint that we have.”

“If you’re looking at shipping stuff from Ontario across to Alberta, for example, it gets pretty pricey these days with supply chain interruptions and increased cost across the board,” said Sartori. “It just made more sense to put a point of presence there and support the local economy of St. Albert.”

To get the leased facility operational, Sartori said the Carnegie Drive building is undergoing significant renovations, which are already underway.

Home sale prices expected to decline this fall: Re/Max report

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High inflation, rising interest rates, and overall economic uncertainty are driving factors in the expected decline of home sale prices this fall, according to a new report from Re/Max Canada.

The national average residential sale price in Canada is expected to drop 2.2 per cent in the final months of 2022, according to Re/Max Canada’s 2022 Fall Housing Market Outlook report. Out of the 30 markets analyzed, six are likely to experience a modest price appreciation, up to seven per cent. 

In a survey of Re/Max brokers and agents, 22 out of 30 said rising interest rates have affected activity in their local residential market this year, with some indicating that this has been the most significant factor impacting homebuyer and seller confidence. 

According to a new Leger survey commissioned by Re/Max Canada, 44 per cent of Canadians agree that rising rates are compelling them to hold on buying a property this fall, while 34 per cent say they won’t hold. 

Christopher Alexander, president at Re/Max Canada, believes the housing supply shortages are still a significant issue country-wide. “…the current lull in the market is only temporary,” he says, “Until housing supply increases, these ‘boom’ and ‘bust’ cycles will likely be a recurring event.”

Elton Ash, executive vice president at Re/Max Canada, added, “Despite the fact that nearly half of Canadians are waiting to buy or sell a home, we’re confident that as economic conditions improve by mid-2023, activity will resume.”

Highlights from Re/Max’s regional fall housing market insights

Re/Max brokers and agents in Canada were asked to provide an analysis of their local markets this fall and share their estimated outlook for the remaining months of 2022.

Western Canada and the Prairies

    • In regions such as Vancouver, Victoria, Kelowna, and Edmonton, brokers reported fewer multiple offers from buyers and a shift toward more balanced conditions between buyers and sellers.
    • The average home price is expected to decline between zero and 6.5 per cent, with the exception of Calgary and Edmonton.
    • Economic concerns have not had a notable effect on the market in Calgary, which according to agents, has been largely insulated due to its relative affordability. The region is anticipating a modest price increase of three per cent. 
    • In Edmonton, rising interest rates have impacted homes priced from $500,000 to $1,000,000, while those priced at $400,000 or less are still relatively affordable. Edmonton is likely to experience a modest price increase of 1.5 per cent. 
    • Demand for luxury properties in Vancouver and Edmonton remains stable. 
    • Low inventory remains a concern in Kelowna, Victoria, Vancouver, and Calgary and is expected to place upward pressure on home prices in 2023.

Ontario

    • Markets including Oakville, Windsor, Barrie, Durham, Kingston, and Kitchener-Waterloo anticipate a reduction in the number of units sold.
    • Apart from Oakville and Muskoka, average home prices are likely to remain steady or decrease between two to 10 per cent.
    • The luxury market has remained resilient and in demand among buyers in Oakville, contributing to the expected two per cent average price increase.
    • Muskoka is expected to experience a five per cent increase in average residential sale prices. 
    • Peterborough is expected to see a seven per cent decrease in average residential sale prices.
    • The return of conditional offers has been a prevalent trend across the province.
    • Durham, London, Sudbury, Ottawa, the Lakelands, and GTA-Toronto are expected to regain balance in 2023, albeit with low inventory continuing to place upward pressure on prices.
    • Thunder Bay is unlikely to experience any significant fluctuations this fall. 

Atlantic Canada 

    • Charlottetown, PEI experienced immediate impacts as interest rates rose, with the number of sale transactions reduced by almost half on a month-over-month basis, particularly among properties in the $500,000 to $1,000,000 price range. 
    • Most Atlantic Canada housing markets analyzed are expected to experience modest price increases through to the end of 2022, with the outlier being Charlottetown.

55 Fair Oaks Drive : St. Albert : E4315167

Welcome to this 4 bedroom, 2.5 bathroom, 1292sq.ft single family home in Forest Lawn!
 

 

MLS#: E4315167 One of the nicest locations in Forest Lawn! This 1292 sq ft bungalow has 3 bedrooms on main floor and one in the basement. Very open and bright floor plan with large windows. Many upgrades including newer shingles and vinyl plank flooring. Enjoy relaxing in the Family Room that has access to a large deck and beautiful backyard PRIVATE TREED RAVINE. On cold nights, sit around the firepit and during the summer months, take in nature with the sounds of the pond that has a brand new liner. Red Willow Trail nearby for nature enthusiasts and nice walks! Fully finished basement with family/tv room, wet bar, SAUNA, and plenty of room for exercise equipment. Come see this home and all it has to offer!
 
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Council approves land transfer agreement for 22 St. Thomas St.

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The city will transfer the land to Homeland Housing for a mixed-income residential and commercial development.

A bird’s eye view shows the area at 22 St. Thomas St. that will be the future site of a Homeland Housing project.

St. Albert city council has voted to approve a land transfer agreement with Homeland Housing for an affordable housing unit in the city’s downtown core.

On Sept. 19, council voted to have the city’s chief administrative officer (CAO) approve an agreement to transfer the land — a 1.3-acre parcel in St. Albert’s downtown at 22 St. Thomas St. — for $1.

In early 2020, St. Albert issued an expression of interest to explore options for the downtown site, and selected Homeland Housing’s proposal. The mixed-income residential and commercial development will include a minimum of 55 per cent of units priced at 10 to 20 per cent below median market rates (which for a one bedroom is currently $1,195, and for a two bedroom, $1,355).

Later in December 2021, council directed the chief administrative officer to draw up a land transfer agreement with Homeland Housing.

Originally planned as office space for city employees, 22 St. Thomas St. went up for sale on the open market in 2019 for $3.82 million, but no developers expressed interest, according to an administrative backgrounder. The land is currently valued at $2.65 million.

Lory Scott, the city’s affordable housing liaison, said the proposed project is aligned to council’s strategic goals, and the land transfer agreement “uses an undeveloped resource already owned by the city to provide a long-term community and social benefit.”

During the council meeting, residents Judith Hierlihy and Ken Kachula addressed council to oppose the use of the land for affordable housing provided by Homeland.

“We believe Homeland Housing’s proposed mixed-use building … will not be the catalyst needed to strengthen downtown redevelopment,” Hierlihy said, adding that the need for extra commercial rental space in the downtown is “questionable.”

The two are members of the Neighbours of Lot 22 Committee, representatives of four downtown condo buildings on St. Joseph Street.

In April, the committee addressed council to pitch an office and arts space as another option for the land in lieu of the affordable housing project.

During the Sept. 19 city council meeting, Hierlihy asked council to name the parcel of land at 22 St. Thomas St. “Millennium Park East,” and reserve it for future land development of the committee’s proposed dual civic office building and performing arts community.

While Hierlihy raised concerns surrounding potential tax requisitions the city would pay to Homeland Housing for the project, Raymond Cormie, the executive director for Homeland Housing, told council these requisitions do not apply to community affordable housing.

Homeland Housing only receives tax requisitions for its seniors’ lodge program, Cormie said. The program provides living space, meals, housekeeping services, and recreational opportunities for independent seniors.

Coun. Sheena Hughes asked how much parking Homeland Housing is planning to provide as part of the facility.

Cormie said parking will be worked out as part of the development permit process.

The city and council will see the proposed development design when it is at 50-per-cent and 80-per-cent completion.

Coun. Natalie Joly said facilitating an affordable housing project downtown is central to council’s values.

“This is an exciting next step at a time when the federal and provincial governments have shown interest in funding this kind of collaborative project,” Joly said.

Similarly, Coun. Wes Brodhead said during debate that affordable housing “has been a constant need in our community.”

“One of the stumbling blocks … has always been land,” Brodhead said. “I appreciate this coming forward, and I look forward to a vibrant development in the downtown core that will actually bring people to our downtown and that will just add vibrancy.”

Coun. Shelley Biermanski said in an interview she doesn’t feel the land transfer itself is the right course of action for St. Albert.

“It was just to me an enormous amount of money in value of land for a city of our size,” Biermanski said. “It was not justified to me.”

The motion to approve the land agreement passed 6-1 with Coun. Shelley Biermanski opposed.

Saskatchewan, Alberta will lead economic growth into 2024

Saskatchewan will see a resource-fuelled surge of 7.6 per cent this year to top all provinces, Conference Board of Canada forecasts

Source

Saskatchewan had 48 drill rigs working as of August 15, 2022, compared to 35 a year earlier. | SaskToday.

Saskatchewan will lead all provinces in economic growth over the next two years, with a stunning 7.6 per cent expansion in 2022, according to the latest provincial outlook from the Conference Board of Canada, with Alberta in second place.

The latest projection is for a stronger performance than the Conference  Board expected in June, when it said Saskatchewan would see growth in the 6 per cent range this year, compared with 2021.

This year’s economic performance reflects that the Prairie province is coming off a low level a year earlier. Saskatchewan was the only province in Canada to have real GDP decline in 2021.

The Royal Bank of Canada (RBC), in report at the end of the second quarter, also called Saskatchewan to see the sharpest growth ramp in 2022.

“We project growth will be strongest in Saskatchewan (up 6 per cent), Alberta (up 5.7 per cent) and Manitoba (4.8 per cent),” stated the report from RBC Economics.” We have British Columbia (4.2 per cent ), Ontario (4.1 per cent) and Quebec (3.6 per cent) in the middle of the pack, with Atlantic provinces trailing.”

The Conference Board of Canada, in a new report that looks at the provincial economies through to 2024, says the Prairie provinces will likely be the top economic performers this year, with Saskatchewan leading and Alberta in second place at 4.9 per cent growth this year, compared to 2021.

The surging oil and gas sector will propel the Saskatchewan and Alberta economies through 2024, the Conference Board says.

Saskatchewan boasts the second-lowest net-debt-to-GDP ratio in the country, and a relatively young population and rising immigration leave the province’s fiscal outlook positive, the Conference Board added.

The Saskatchewan government now forecasts revenue to be $19.17 billion in fiscal 2022-23, up $2.02 billion (11.7 per cent) from provincial budget forecasts.
“This increase is largely due to a $1.86 billion increase in resource revenue, reflecting higher potash and oil prices,” according to provincial Finance Minister Donna Harpauer.

At first quarter, Saskatchewan was forecasting a surplus of $1.04 billion for 2022-23, a $1.51 billion improvement from budget estimates.

Location, location, location: Alberta’s housing market in a national context

Source

If you’re a homeowner, headlines like “a sharp correction is coming” and “the bubble is about to burst” send shivers up your spine, but they are music to the ears of anyone looking to break into the market.

The extreme downward trajectory of house prices suggested by these headlines and expected in some parts of Canada is not, however, on the horizon in Alberta.

Average home prices in Vancouver and Toronto were already skyhigh going into the pandemic while other Canadian cities have experienced rapid price escalation since COVID became a household word.

Take Moncton, New Brunswick: According to the Canadian Real Estate Association, the benchmark* price of a home on the resale market in the city jumped by 82% between February 2020 and July 2022. With the benchmark at $334,500, it was still a relatively affordable market (the benchmark in Toronto in July was, for example, $1,184,100), but buyers still had to come up with over $150,000 more for a typical home in the area than they did just two-and-a-half years ago.

While markets like Halifax-Dartmouth (+70%), Victoria (+50%) and Hamilton-Burlington (+49%) saw prices spike during the pandemic, Calgary and Edmonton posted solid, but more modest, growth at +25% and +16%, respectively. As such, because a housing bubble didn’t form here, there isn’t one to burst.

At the same time, robust economic growth in Alberta (we will likely lead the country in this regard in 2022), the recent return to being a net recipient of interprovincial migrants, a somewhat younger (though still aging) population, and the high quality of life offered here provide strong support for the provincial housing sector going forward.

As a recent report from Desjardins points out, “the oil-producing provinces of Alberta, Saskatchewan, and Newfoundland and Labrador [are] benefitting from post-pandemic tailwinds, largely in the form of higher commodity prices. The resulting job creation and workers it attracts from across the country will provide support to existing home sales and prices.”

Higher interest rates combined with national and global economic uncertainty may eat away somewhat at home prices in Alberta, but we should be able to avoid the potentially severe erosion that some other markets may experience.

*The MLS® Home Price Index (HPI) model is used to calculate benchmark prices in key Canadian markets. A “benchmark home” is one whose attributes are typical of homes traded in the area where it is located and includes single family homes, townhouse/row units and apartment units.

12253 94 Street : Edmonton : E4309371

Welcome to this 3 bedroom, 2 bathroom, 931.09sq.ft single family home in Delton!
 

 

MLS#: E4309371 Investors Alert! 3 Bedroom bungalow in Delton. CORNER LOT 40 x 125 foot is zoned RF3 – perfect for building a new duplex! OR – Great potential as an income property by giving this home some TLC. Newer shingles & newer partial basement development. A double detached garage is accessible from a paved back lane. Easy access to public transit, and just a 10-minute walk to Delton School or Delton Community League and Park!
 
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Demand high for industrial space across city

Source

Michael Erickson, the city’s director of economic development, said the last four years has seen 1.4 million square feet of industrial completed and absorbed in St. Albert.1008 construction main sup CCThe City of St. Albert is working toward creating an area structure plan for the west end of the city, which will include the Lakeview Business District. The area will help expand the industrial space in St. Albert to allow for more businesses in the community. 

The scarcity of industrial property in the region and the high demand for the space is driving the city to focus on building more space for businesses to set up shop, said one expert in St. Albert’s economic development department.

Michael Erickson, the city’s director of economic development, said the last four years has seen 1.4 million square feet of industrial space completed and absorbed in St. Albert.

“To put that in context, that’s about a third of the city’s entire industrial inventory that has been added in the last four to five years,” Erickson said.

In the past few years, St. Albert has seen large corporations open, including the Alberta Liquor Gaming and Cannabis building in 2018 and the Uline branch distribution facility — a 600,000-square-foot space set up in the Anthony Henday Business Park (AHBP)

The AHBP is also adding two new buildings, Erickson said, both slated to start construction this year, which together will offer around 400,000 square feet.

“This isn’t slowing down anytime soon,” Erickson said of construction.

“We continue to receive a ton of interest from industrial developers and from end users, from businesses that were ultimately located in some of those properties under construction,” Erickson said.

The expert said he doesn’t know if many people think about St. Albert as being a surging place for industrial companies to come for warehousing and manufacturing, but that is what the city is quickly becoming.

The Lakeview district will be the next location for businesses to develop, as the rest of the business parks in the city start to reach capacity.

Currently industrial space is scarce across the entire region and Erickson said the city sees a lot of demand for the space they have to offer to businesses.

Lakeview Business District — formerly known as the Employment Lands — comprises 618 acres west of Ray Gibbon Drive between Giroux Road and McKenney Avenue. According to the city, the preliminary servicing plans for the new business district are being completed as part of the St. Albert West Area Structure Plan and Neighbourhood Plan and the city expects these to be completed by June 2023.

The design and construction of any servicing to Lakeview will be subject to council approval in the future, city spokesperson Nicole Lynch said in an email.

The economic development department is fielding tons of calls from potential industrial development groups which have an interest in developing in the business park, Erickson said.

Some end users would be considered mega-site users — looking for more than 500 acres — while others might be smaller businesses which would be the type of users going into the Anthony Henday Business Park right now.

“For us, we sort of see that as the future, a key employment area for St. Albert, and an economic engine for St. Albert for decades to come,” Erickson said.


Commercial tower added to Riverbank Landing in St. Albert

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Boudreau Communities says demand has meant adding a sixth commercial building to the riverfront mixed-use project.

A recent ground-breaking ceremony was held on the large mixed-use development.

Boudreau Communities has added a commercial tower as it began its Riverbank Landing project in St. Albert, an affluent suburban community near Edmonton, Alberta.

Dave Haut, CEO of Boudreau Communities, said the site is ready to start servicing underground this summer. Construction on the first building, a 15-storey tower and commercial space along the river, will begin later this year.

The entire project will include 360 residential units, with condo prices starting at less than $300,000 and ranging to more than $900,000.

Situated on the banks of the Sturgeon River the project is to include two residential high rises, nine-storey seniors building, micro-loft suites, new restaurants, and boutique retail / office buildings.

Ten acres are set aside for a riverfront park and nature preserve.

Haut said a ground-breaking ceremony received a good turnout, with attendance from council members and “a number of potential purchasers” for both commercial space and condos.

“I think a lot of people are looking forward to this project getting started.”

While original plans included five buildings, Haut said plans have expanded to include a small sixth building which will provide additional commercial space.

“There’s a big hill there and we needed to deal with it somehow,” Haut said frankly,  adding that the expansion is also a result of market demands.

Haut said about 65 per cent of the condo units have already been reserved with a refundable deposit.

Boudreau Communities can’t finalize the site’s drawings until they receive a permit from the city.  “In the fall, when everything’s planned down to the last ditch, then we reach out to those people [who have reserved space],” Haut said.

As far as whether the previously estimated construction timeline of five to seven years remains accurate, Haut said it would be closer to five because the “market acceptance has been really strong.”

I think we’re going to be able to accelerate that,” Haut said, adding that in terms of commercial space, Boudreau is seeing interest from small local restaurateurs and service providers, as well as from medical providers such as physiotherapists and doctors.

1019 Walkowski Place SW : Edmonton : E4306731

Welcome to this 4 bedroom, 2.5 bathroom, 3026sq.ft Single Family Home in Windemere!
 

 

MLS#: E4306731 Spacious and inviting from the moment you walk through the front door! Striking modern decor and upgrades throughout this Dream Home that boasts 3036 sq ft with 4 bedrooms, large open concept kitchen and dining area. Enjoy your summer days and evenings entertaining and relaxing on your large no maintenance deck with south west facing backyard! Office/den conveniently located on main floor. Large windows allow sunshine to filter throughout the home. Dedicated laundry room with sink on upper level. Unwind and relax in the spa-like Master Ensuite that also has a large walk-through closet. The two bedrooms upstairs each have walk-in closets and share a Jack & Jill bathroom. Everything you dreamed of including the HEATED 4 car garage!
 
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#224, 45 Inglewood Drive : St. Albert : E4301964

Welcome to this 1 bedroom, 1 bathroom, 733sq.ft condo in Inglewood!
 

 

MLS#: E4301964
 
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Here is how much the average apartment costs to rent in Vancouver in June 2022

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Canadian rental prices have seen the highest month-over-month increase in years.

A new report finds that rental prices across Canada have seen the biggest month-over-month increase in years — and Vancouver continues to see the highest rent in the country.

Online apartment rental platform Rentals.ca has released its June 2022 National Rent Rankings report, which analyzes the average rental prices for its listings in May.

Across Canada, the average rent for apartments in May was $1,888, which represents a year-over-year increase of 10.5 per cent.

“This also represents a month-over-month increase of 3.7 [per cent], the largest monthly increase since May of 2019,” note the report authors.

Vancouver continues to see the highest rental prices in Canada, for both one and two-bedroom units. The average cost of a one-bedroom apartment in May 2022 was $2,377, which is a 1.8 per cent increase over last month and a whopping 19.1 per cent year-over-year increase.

Two-bedroom apartments cost an average of $3,495 in May, marking an increase of 5.1 per cent over last month and a staggering 24.1 per cent increase year-over-year.

Toronto has the second-highest rental prices in the country, with one-bedroom units averaging $2,133 in May; two-bedroom units averaged $3,002.

Another B.C. city, Burnaby, rounded up the top three most expensive cities in Canada. One-bedroom apartments cost $2,012 while two-bedroom units cost $2,645 in May.

Two Ontarian cities completed the top five highest Canadian rental markets in May: Oakville and Burlington.

Rent Vancouver and beyond: Average prices across Canada for apartments to rent

St. Albert Real Estate Statistics for April 2022

A total of 133 homes SOLD in St. Albert this month. The highest priced home SOLD in St. Albert this month was a 3 bed, 4 bath, 2700 square foot home for $999999, and the lowest was a 3 bed, 2 bath, 1008 square foot home for $258000, bringing the average to $531987 for 3 beds, 3 baths, and 1652 square feet.

CLICK HERE! to view all current St. Albert homes for sale by Don Cholak.

Sell your St. Albert home:

Ready-to-sellAre you looking to sell your home in St. Albert? Don Cholak has decades of expertise and experience in St. Albert and is ready to help you sell your St. Albert home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in St. Albert:

Ready-to-buy

Are you looking to buy a home in St. Albert? Don Cholak is an expert and experienced Realtor in St. Albert and can help you find the perfect home in St. Albert today! Just click the big red button above or call Don at 780-718-8400.

Akinsdale St. Albert Real Estate Statistics for March 2022

A total of 9 homes SOLD in Akinsdale this month. The highest priced home SOLD in Akinsdale this month was a 4 bed, 3 bath, 1027 square foot home for $463000, and the lowest was a 4 bed, 2 bath, 1194 square foot home for $340000, bringing the average to $419644 for 4 beds, 2 baths, and 1248 square feet.

CLICK HERE! to view all current Akinsdale homes for sale by Don Cholak.

Sell your Akinsdale home:

Ready-to-sellAre you looking to sell your home in Akinsdale? Don Cholak has decades of expertise and experience in Akinsdale and is ready to help you sell your Akinsdale home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in Akinsdale:

Ready-to-buy

Are you looking to buy a home in Akinsdale? Don Cholak is an expert and experienced Realtor in Akinsdale and can help you find the perfect home in Akinsdale today! Just click the big red button above or call Don at 780-718-8400.

Braeside St. Albert Real Estate Statistics for April 2022

A total of 9 homes SOLD in Braeside this month. The highest priced home SOLD in Braeside this month was a 4 bed, 4 bath, 1854 square foot home for $985000, and the lowest was a 4 bed, 2 bath, 1161 square foot home for $375000, bringing the average to $575777 for 4 beds, 2 baths, and 1641 square feet.

CLICK HERE! to view all current Braeside homes for sale by Don Cholak.

Sell your Braeside home:

Ready-to-sellAre you looking to sell your home in Braeside? Don Cholak has decades of expertise and experience in Braeside and is ready to help you sell your Braeside home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in Braeside:

Ready-to-buy

Are you looking to buy a home in Braeside? Don Cholak is an expert and experienced Realtor in Braeside and can help you find the perfect home in Braeside today! Just click the big red button above or call Don at 780-718-8400.

Deer Ridge St. Albert Real Estate Statistics for April 2022

A total of 10 homes SOLD in Deer Ridge this month. The highest priced home SOLD in Deer Ridge this month was a 5 bed, 3 bath, 1499 square foot home for $560000, and the lowest was a 3 bed, 2 bath, 1088 square foot home for $356000, bringing the average to $456142 for 4 beds, 3 baths, and 1431 square feet.

CLICK HERE! to view all current Deer Ridge homes for sale by Don Cholak.

Sell your Deer Ridge home:

Ready-to-sellAre you looking to sell your home in Deer Ridge? Don Cholak has decades of expertise and experience in Deer Ridge and is ready to help you sell your Deer Ridge home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in Deer Ridge:

Ready-to-buy

Are you looking to buy a home in Deer Ridge? Don Cholak is an expert and experienced Realtor in Deer Ridge and can help you find the perfect home in Deer Ridge today! Just click the big red button above or call Don at 780-718-8400.