{"id":833,"date":"2014-07-21T19:44:00","date_gmt":"2014-07-21T19:44:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2014\/07\/21\/wealthy-and-well-educated-young\/"},"modified":"2015-06-01T19:41:00","modified_gmt":"2015-06-01T19:41:00","slug":"wealthy-and-well-educated-young","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2014\/07\/21\/wealthy-and-well-educated-young\/","title":{"rendered":"Wealthy and well-educated, young Calgarians want beltline condos"},"content":{"rendered":"

By Robert Frank<\/b>
\nwww.sqft.ca<\/a><\/p>\n

\u201cThe beltline became a big residential area 35 years ago, because it made more sense than the downtown core,\u201d recalled John Torode. \u201cNow, 1st Street is a nice neighbourhood with restaurants and some fashion retail, with some opportunities for infill.\u201d <\/p>\n

Likewise, with people walking more, 17th Avenue on the edge of the beltline has become a major retail node,\u201d he continued, \u201cthough there are more restaurants and bars as well now.\u201d<\/p>\n

\u201cThe population density has grown significantly, driving demand,\u201d Torode added. \u201cThere\u2019s an empty city block that, six-to-eight months hence will contain a Walmart, a grocery store, and Canadian Tire outlet.\u201d <\/p>\n

\u201cYou\u2019re going to see more of that,\u201d he predicted. \u201cMore big-box like Best Buy, which set up on 17th Avenue.\u201d <\/p>\n

Although most developers have gravitated toward smaller suites, Torode suggested that the market isn\u2019t keeping up with demand for bigger residences.<\/p>\n

\u201cThey\u2019re discovering that everyone wants bigger ones, so there is a need for large suites, which consequently are trading quickly,\u201d he said.<\/p>\n

Torode added that downtown demand for condos is about to spike.<\/p>\n

\u201cIt\u2019s just a question of Calgarians wrapping their minds around living in a condo, because most haven\u2019t even visited one yet,\u201d he observed. \u201cThey might work on the 35th floor of a downtown office tower, but the first time they look out the window of my living room they say \u2018Wow, this is something else!\u2019\u201d<\/p>\n

\n\u201cThe issue is density,\u201d Torode added. <\/p>\n

\u201cRight now the lowest-density land that you can find has to be five-times coverage, so you have to build something of scale.\u201d <\/p>\n

\u201cDensification is going to happen,\u201d he asserted. \u201cA lot will involve parking-lot infill that will beautify the streetscape. <\/p>\n

\nPlus TELUS\u2019 new downtown high-rise office tower will have apartments on top of it. It will be quite the building.\u201d<\/div>\n

<\/p>\n

\n<\/div>\n

<\/p>\n

\nNote: This report appeared on page 34 of the Fall 2013 issue of Canadian Real Estate Magazine.<\/i><\/div>\n

<\/i><\/div>\n

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By Robert Frank www.sqft.ca \u201cThe beltline became a big residential area 35 years ago, because it made more sense than the downtown core,\u201d recalled John Torode. \u201cNow, 1st Street is a nice neighbourhood with restaurants and some fashion retail, with some opportunities for infill.\u201d Likewise, with people walking more, 17th Avenue on the edge of the beltline has<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-833","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nWealthy and well-educated, young Calgarians want beltline condos - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2014\/07\/21\/wealthy-and-well-educated-young\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wealthy and well-educated, young Calgarians want beltline condos - 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