A construction boom is coming in Alberta according to the boss of a Canadian housing developer.
Brad Lamb of Toronto-based Lamb Development Corp. is planning five or six new high rise developments in the next two decades in Edmonton and also expects big things for Calgary.
Lamb told the Globe and Mail that the recent lows in Alberta are part of the cyclical nature of the real estate business, likening the market to that in Toronto in 2011 when condo sales slumped.
“As a developer, you have to be able to weather the storm and not be derailed by these things because they’re inevitable,” he said.
Lamb’s firm has 20 buildings planned across Canada, $2 billion worth; and said that the firm’s sales in the Alberta market have seen a rebound in the last four months.
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