Alberta - Where is the opportunity ?

Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
840
339
63
Calgary
#48
Ummmm...

West Block
Fox Two
EAD II
Stantec Tower
JW Marriot & Legends
The Bentley
Fox Two
Kelly Ramsey
Infinity
Peter Loughheed Hall
Crawford Block
The Ultima
The Symphony
Vibe Condos

Just off the top of my head under construction in Edmonton, with several dozen other major projects in the works.
 
Likes: Rickson9

Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
840
339
63
Calgary
#50
There is a lot of different products available in Edmonton right now and some interesting models being explored by some innovative developers.

Quality developments are still achieving strong presales. The Symphony is not a "value" customer. It is practically on the Leg grounds. It is a beautiful design and people are buying.

There is still absorption and some projects are doing very well. Things have not dried up like in 2009. Builders / developers are looking for ways to make projects work.

Lots of affordable housing money available for shovel-worthy projects. We are hopeful for one of our infill developments. (I'm not releasing any more details yet)

Some projects will stand still, yes. But you are going to need to do a bit of digging to see which projects are being absorbed by the market ;)
 
Likes: Rickson9

Willyboy

Inspired Forum Member
Registered
Aug 19, 2016
96
15
8
#53

Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
840
339
63
Calgary
#56
One of Alberta's largest land companies seeks court protection following string of losses

The privately owned firm has thousands of investors who have bought corporate bonds or purchased units in partnerships that either develop land or hold vacant property until it can be sold.

http://edmontonjournal.com/business...s-court-protection-following-string-of-losses
A very successful company at fundraising. I've heard the problem lied in re-syndication. Buying a piece of land, repackaging selling to investors. Re-syndicating the second syndication and reselling to investors.
 

ThomasBeyer

Senior Forum Member
REIN Member
#58
Foreclosures are on the rise, up by about 25 per cent annually over the past two years. Statistics from the province show a total of 5,746 properties were foreclosed on between April 1, 2016 and March 31, 2017. Of those, 2,277 were in Calgary and 2,523 were in Edmonton.

http://globalnews.ca/news/3455634/foreclosures-in-alberta-up-about-25-annually-for-past-2-years/
Buy when there is blood in the streets. 3Q and 4Q 2016 was pretty bloody in Alberta. Already less blood in the streets now.

Don't wait until the NDP clowns are booted from office in May 2019 !

Time to buy. We're picking up a mobile home park package in Central Alberta 20% below list price and 6% below appraised price with an 8% CAP rate. SWEET !!
 

Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
840
339
63
Calgary
#59
@ThomasBeyer yes, and some development projects getting unhinged that we are looking at too. Overleveraged companies and also some great developers who have been able to find value in the Alberta economy putting together some quality parcels. Some exciting things in the pipeline right now.
 
Likes: Marnie