Central Edmonton real estate is one that has grown incredibly well over the last few years. What’s only expected of it more in the coming future are huge growth prospects. Downtown Edmonton is on a roll and here are the main reasons why.
Announcements regarding the new office, more government and residential developments in Central Edmonton Real Estate are only growing. According to important predictions, there could be a rise in the construction activity there, increase by $4.8 billion by 2020. Downtown Edmonton Real Estate
The amount of construction going on in Central Edmonton Real Estate is nonetheless outstanding and the constructions will invariably grow. According to Cory Wosnack, an office leasing principal working with Avison Young, if you are investing billions of dollars of construction value that is brought on the stream in duration of just five years, then that is something that nobody has heard of. This hasn’t happened in Canada. In fact, it has not even happened in North America.
Central Edmonton is about to get a huge boost for more than one reason. There are several projects that they are going ahead with, including the LRT expansion, the Royal Alberta Museum, the New Arena district and other expansions at MacEwan University. There will also be increased expansion and investment in condos and office towers as well. It’s not just the above-mentioned constructions that will take place in Central Edmonton that is unbelievable. Other projects are in the pipeline and the amount of investment that is being made in the area shows great growth prospects for it in the coming run.
The other projects that are in the pipeline but everybody is unclear of are the following:
• The redevelopment of Rossdale • The Major Galleria arts complex • A student residence complex near the MacEwan university • Various other condos and office towers
While there is a lot expected of the area and a lot of growth inhibitions that are about to take place, the top 3 that will blow your mind are the following:
The Rogers Place
The Rogers Place will be the Oilers’ new home. It will be a site where concerts and shows take place. The site is already under construction and will complete by the year 2016. The cost of the project is $605 million which includes a number of expenses such as the Wintergarden pedestrian, an LRT link, community rink and more.
The Stantec Tower is already under construction. Its cost is $500 million and will be completed by 2018. Stantec tower will be a place to engineering and architectural consulting. It will have its headquarters there, on the northwest corner of 103rd Avenue and 102nd Street in 62 story complex.
City Office Building
With a cost of more than $300 million, the City Office Building is under construction. A 27 story structure at 10330 101st St., it will have 18 floors. Central Edmonton has only good things packed into it in the coming run. The area is going to grow and massive expansions are expected in the years to come.