Gerald Tostowaryk

Commercial and Residential Real Estate

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Well after quite some time absent from blogging, I may as well ease myself back into the saddle. What better way to do that than to do it the same way we ease ourselves into a nice meal – with some appetizers.

So let’s have a look at a few bits ‘n bites from around the real estate world. Today’s tidbits (with the exception of the first article, sourced from the City of Edmonton) were sourced from the IREM newsroom, which can be viewed at irem.org if you wish to source out the direct sources.

Bon appetite!

 

Lower Rents Contribute to Lower Inflation in Edmonton and Calgary

Edmonton’s annual rate of inflation (CPI) eased to 2.5% in February. Lower costs for rental housing and electricity more than made up for a rise in gasoline prices.

A more rapid decline in rental accommodation costs and utility fees were the main contributors to Calgary’s rate of inflation coming in at 2.1%

 

52 US Cities now Renter dominated

According to the US Census Bureau, 52 of the 100 largest cities are now majority renter cities, and the trend is expected to continue as baby boomers downsize into rental housing.

Given that long-term home ownership in Canada averaged 65% from 1997 through 2014 it will be interesting to see what happens in these cities

 

Online Shopping an Increasing Dilemma for Property Managers and Developers

The volumes of packages residents are getting delivered these days is skyrocketing and the products being delivered are increasingly diverse.

As an example, food vendors deliver packages to residents who are sometimes away and, well, it starts to rot so some buildings have installed commercial refrigeration units. Some buildings now have automated locker systems.

 

Speaking of Online Shopping, Retail Centres Brace for New Uses

More and more shopping centres are being left with holes in their buildings as businesses fall victim to online shopping.

Many centres are taking in non-retailers like fitness centres, health clinics and vocational schools while some are totally re-purposing buildings into call centres, apartments, and well anything really.

 

World’s First 3D Printed Skyscraper to be Built in UAE

No I’m not kidding, Cazza in Dubai plans to build the world’s first 3D printed skyscraper in the United
Arab Emirates.

3D buildings have been built before, offering lower costs and speedy completion. Believe it, they will be printing concrete and steel, among other materials.

 

Less Parking Allocations Becoming More Common

Downtown core revitalization combined with the advent of Transit Oriented Development is a phenomenon right across North America as well as other areas.

Right here at home in Edmonton, with infill becoming common, and with changing lifestyles (i.e. environmental sustainability) the need for parking spaces is on the decline. If you build within a certain distance of a Transit station, reduced parking requirements could apply.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.