How we did it.

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Real Estate

Research

Blair and Co. produced a rental market research snapshot for Project Lansdowne, a purpose-built rental apartment development in Edmonton's south side. The snapshot benchmarked current rental inventory, pricing, price per square foot, and sales data across eight competing neighbourhoods — Pleasantview, Queen Alexandra, Strathcona, Garneau, Parkallen, Empire Park, Malmo Plains, and Belgravia, giving the development team a precise, current picture of the competitive rental landscape before any pricing or positioning decisions were made.

A new rental apartment entering a defined urban trade area competes against every existing building in that area from the day it opens its doors. The vision for this research snapshot was to give the Lansdowne development team a clear, structured benchmark of the rental market across the eight neighbourhoods most likely to draw from the same prospective tenant pool. That meant current listed inventory by bedroom type, low and high rent ranges, average rents, average square footage, and price per square foot across one, two, and three bedroom units, plus a parallel look at the low-rise apartment condo sales market in the same neighbourhood set, so the team had a complete picture of both renter behaviour and buyer behaviour in the trade area.

Methodology

Blair and Co. structured the Lansdowne snapshot across four research dimensions. The rental inventory section captured 30 active listings across the eight-neighbourhood trade area, documenting low, high, and average rents and square footages by bedroom type alongside price per square foot calculations. The sales summary section captured 110 low rise apartment condo sales in the same neighbourhood set, covering average days on market, average list and sale prices, the variance between list and sale price, and average square footage by bedroom type. The amenities benchmarking section documented the feature and amenity standards prevalent across the competitive set. The demographics section drew on 2016 federal census data to provide the population and household profile context for the development’s target tenant base.

Process

Blair and Co. conducted field and secondary research across the eight-neighbourhood trade area, collecting current rental listing data, sales transaction data, and amenity information for active and recently transacted properties in the competitive set. Data was compiled into a structured snapshot format covering the rental summary, sales summary, amenity benchmarking, and demographic profile in a single reference document designed to be used as a decision-making tool by the development, leasing, and asset management teams. The snapshot was produced as a point-in-time deliverable calibrated to the specific neighbourhood boundaries most relevant to the Lansdowne project’s competitive context.

Outcome

The Project Lansdowne rental market research snapshot gave the development team a current, structured benchmark of the competitive rental and sales landscape across the eight south Edmonton neighbourhoods most directly relevant to the project. Average one bedroom rents of $1,227 per month at 674 square feet, two bedroom rents of $1,438 per month at 987 square feet, and three bedroom rents of $1,891 per month at 1,346 square feet gave the leasing team the market context needed to set opening rents that were competitive without leaving revenue on the table. Sales data showing two bedroom units represented over 60 percent of transactions at an average sale price of $264,939 and an average discount to list of approximately $9,700 gave the team additional context on buyer behaviour and the relative value of rental versus ownership in the trade area. The amenity benchmarking gave the development team a clear picture of what prospective tenants in this market expected as a baseline, and where Lansdowne had the opportunity to differentiate.

Skills Used

Rental Market Research,
Competitive Building Survey
Rental Pricing Analysis
Price Per Square Foot Analysis
Low Rise Apartment Sales Analysis
Days on Market Analysis
List to Sale Price Variance Analysis
Amenity Benchmarking
Census Demographic Analysis
Edmonton South Side Market Research
Research Snapshot Design and Production
Unit Mix Analysis

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