With Edmonton‘s real estate market seeing a surplus of inventory, there is a shift taking place towards a buyers market, as discussed in our previous blog post. Buyers can rest assured in their investments, as city planners are working diligently to revitalize key Edmonton areas, which will improve desirability and add value to residential investments in the years to come.
Three important new districts are cropping up in the central region of the city, an exciting prospect for avid shoppers, cultural connoisseurs, and the throngs of tourists the city sees come through every year.
The areas gaining momentum are the Arena District, the Brewery District, and the Warehouse District (also known as the 4th Street Promenade). These new retail and social centres are exciting and fresh, yet each has unique offerings and atmosphere depending on your preferred speed of life.
Arena District designers have created a central hub for vibrant community gatherings.
Rogers Place and an adjacent public plaza are the focal points of the Arena District, located in the heart of city center. The first stages of the EAD (Edmonton Arena District), including the functioning arena, will be completed by 2016 . This will also include the Winter Garden, a community rink, multiple parkades, and a state-of-the-art office tower. Eventually the district will be home to condominiums, retail spaces, and more office towers as expansion continues outwards to an estimated 25 acres.
Watch a highly realistic mock up of the expected results:
Next on the list of exciting new ventures is the trendy and vibrant Brewery District, aptly named as it is centred on site of the former Molson Brewery, a portion of which remains for historical preservation purposes.
The focus of the area will be on pedestrian oriented development, due to proximity to the downtown core, 104th avenue, and Oliver Square. It will provide high density retail and office space, and offer trendy restaurant choices and shopping attractions in a socially oriented environment.
The design company describes the project in this video:
Lastly, the quaint and classic 4th Street promenade, aptly anchored at 104th and 104th allows one to step away from the bustle of downtown and slow down the pace of life a little. The newly minted ‘Warehouse District’ as described by developers, is
“A sophisticated neighbourhood in the heart of Edmonton that offers an urban atmosphere in which you can admire the arts, fine food, and unique boutiques. It’s a welcoming environment: once you get here, you’ll want to stay and enjoy quality time in a Downtown oasis.”
Development for all three projects is already underway, and Edmonton citizens can expect completion in the near future. To search for properties available in these areas, or a neighbourhood of your choosing CLICK HERE.
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