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The Revitalization of Downtown Edmonton

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By : Terry Paranych    99 or more times read
Over the course of the last six months, there have been heated discussions over the new potential downtown arena proposed primarily by the Katz Group of Companies. The debates have ranged from how it will effect downtown, to what it will cost taxpayers and what will even happen to the existing Rexall Building.

Personally, I know that if we do not move forward with progressively driving the revitalization of our downtown with this arena, we the people of Edmonton will miss out. This is especially true for the real estate investment potential of downtown and the urban movement that will come with it.

When I talk to younger potential Edmonton home buyers - they share stories and desires of how they want to see Edmonton become a major metropolitan centre - proud and more successful than ever. A city that they can live local in (with all the amenities and entertainment nearby) and a place that drives them to be motivated and to succeed .

In respects to the Edmonton Real Estate Market, I know that if the arena does go through, there would be no better time to buy a prime piece of downtown Edmonton real estate like the present. Whether you are a young professional with a desire to live central, or an investor who knows purchasing a condo in this area would be beneficial - I recommend starting your search for the perfect property today.

Young Professionals - Prior to purchasing your new property, remember to keep in mind:

Your lifestyle - What size of condo would work for you? How close would you want to be from specific amenities? What is the property age demographic?
Make sure that you can afford both the mortgage as well as the condo fees.
What amenities or services would you like in your condo development or nearby?

Condo Investors:

Remember to take a long term view of your potential investment - Does it have a positive cash flow?
Research - which neighborhoods have better potential - which areas have less properties on the rental market and have a greater demand for them?
Review Economic Factors - Population, job growth, average incomes and so on.

Whether you choose to invest in the downtown Real Estate market or not, is completely up to you. Regardless, the downtown is in need of a major revitalization. 104 Street and Jasper Avenue are already making head way in creating a more urban environment. The Edmonton downtown arena and its proposed additional facilities will promote downtown Edmonton as an urban, forward thinking destination to live. As an Entertainment Centre, the city of Edmonton will be filled with more energy and excitement, connecting more to the world than ever before.
For more information on the proposed Arena, please visit Revitalize Edmonton. Alternatively, if you are interested in buying an Edmonton Condo, start your search. Want to learn about new Edmonton developments - contact the Terry Paranych Team today.Edmonton Real Estate Blog.

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