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Downtown Edmonton Rises High

While Edmonton’s new downtown arena development has garnered much attention, the accompanying boom of real estate development in the city’s core is the latest topic of conversation.

The previous abundance of surface parking lots allowed for the land space needed by developers to add more condominium towers to the downtown area, with around 27 proposed towers expected to go up in the next 3 years. At the forefront of these residential developments is the Fox Two, a project by Langham developments (of Icon Towers notoriety). 171 units will comprise this 33 storey colossus on the corner of 102 Avenue and 104 Street; a site you may remember as the old greyhound bus garage. This project began after the Fox One sold out most of it’s 142 units. Upon completion, both Fox towers are expected to place in the top 20 list of Edmonton’s tallest buildings, alongside the Icon I and II.

Image courtesy of foxtowers.ca

Mockup of the Fox Two tower.

The following chart outlines some of the major condo development projects in central Edmonton:

Building

Units/Storeys

Status

Estimated Completion

Price Range

Fox One

142 Units

27 Storey

Construction

2015

From 363,900 (based on remaining unit prices)

Fox Two

171 Units

33 Storeys

Pre-construction

Unknown

From 290,000

Pearl Tower

128 Units

35 Storeys

Construction

Late 2014

From 297,000 to 1,850,000

Ultima

199 Units

32 Storeys

Construction

2015

From 270,000 to over 624,000

Edmontonian Sky Garden Towers

220 Units

53 Storeys

Pre-construction

Unknown

Unknown

Symphony Tower

143 Units

27 Storeys

Pre-construction

2016

288,000 to over 2 million

Corners

27 Storeys

Pre-construction

2015

200,000’s to over 1 million

Understandably, residents and employees who work in the core have expressed concern over an increase in traffic congestion due to construction and closed thoroughfares, as well as decreased parking availability. According to Edmonton Journal Reports the city is on top of these issues, with a comprehensive website in development to keep citizens aware of route changes and parking availability, maintaining Downtown’s travel efficiency.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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