Experts predict more people will move to downtown Edmonton
Real estate experts are predicting an 88 percent increase in Edmonton’s downtown population between 2016 and 2030. A number of residential projects are already under construction including Sky Residences and The Legends in the arena ICE District, and the Encore and the Symphony towers. There are also a few downtown apartment rental projects like the Augustana on 107th Street and some office-to-residential conversions in the government district.
Positive office space absorption credited with driving the downtown Edmonton condo boom
2018 marked the first year of positive office space absorption in Edmonton in four years, with the majority of that absorption taking place downtown. While the downtown office vacancy rate remains around 16 percent, experts predict 2019 will see further positive absorption in commercial real estate. And with more businesses flocking downtown, more people will be looking to live closer to work — foregoing a long commute from the ‘burbs for an urban lifestyle with walkable amenities and excellent dining and entertainment options nearby.
New projects bring convenience and vibrancy to downtown Edmonton
For downtown Edmonton condo owners, there are two main criteria that make urban living attractive: convenience and amenities. Some recent changes to the downtown landscape (and some projects that are on the horizon) are making downtown Edmonton real estate more appealing to folks who want to maximize life balance and flexibility.
A place for man’s best friend in the city centre: Alex Decoteau Park
Downtown Edmonton is a lot more pet-friendly now that Alex Decoteau Park is completed. Featuring a fenced off-leash area with dog friendly surfacing and trash receptacles, this 0.35 hectare park is conveniently located on the northwest corner of 105 Street and 102 Avenue. Other park features include:
- Open green space made of at-grade turf separated by bands of decorative concrete
- A community garden with raised planters and a shed
- Dynamic in ground water fountains with programmable water displays
New urban concept grocery store for Edmonton’s downtown Ice District
Ever since the Downtown Edmonton Sobey’s on the corner of 104 St and Jasper Ave closed its doors in 2014, downtown Edmonton condo residents have been asking for a walkable grocery store in the downtown core. Finally, the wait is (almost) over!
Loblaws plans to open a CityMarket grocery store on the site of the old Greyhound bus station at 103 Ave and 103 Street in 2020. The downtown grocery store will be similar to the CityMarket that opened in the Brewery District in 2016.
The 22,000-square-foot store will be located on the second floor of the Block BG building and will also be accessible to visitors in the public plaza being built south of Rogers Place. The store will feature chef inspired grab ‘n’ go meal items for lunch and dinner; a wide selection of products to suit a variety of dietary needs, including organic and gluten–free choices and all the fresh food and grocery items customers will need to complete their weekly grocery shop.
Downtown Edmonton farmers market moves to the Quarters
While downtown residents living along 104 Street will miss having the Edmonton downtown farmers market on their front step this summer, the move to the Great Western Garment Company building on 97 Street and 103 Avenue will provide the market with a year-round home and brings added vibrancy to the Quarters — an area of downtown Edmonton that is undergoing major revitalization at the moment.
The market will open in its new location on May 18, 2019 and will be located outdoors on 103 Ave and 96 Street during the summer while renovations are completed on the indoor space. The move also allows the market to run on both Saturdays from 9am to 3pm and Sundays from 11am to 3pm, rather than just Saturdays as it did in its former location.
While construction has just begun on the interior of the building, developers are keen to retain much of the original character of the building including the pressed-tin ceilings and hardwood floors. For now, plans for the four-storey plus basement include the market on the first two floors, and a rental space on the top floor for events like parties, weddings and high tea. Plans are still in the works for the third floor.
Parking is available on the property to the east of the building and the market will remain dog-friendly.
Find the perfect downtown Edmonton condo
Interested in moving closer to action? We’re experts in downtown Edmonton residential real estate and can help you find a great deal on the best Edmonton condos for sale in the best areas of downtown. Whether you’re looking for a luxury condo in the ICE district or a great investment property in Edmonton Quarters, we can help.
Give Wally a call at 780.238.7384 or send an email. Your dream downtown lifestyle awaits!