by qdhanwantc
14. February 2012 17:16
The tallest proposed residential tower in Alberta, will be launched in March to take advantage of a resurgence of interest in the inner-city condo market in Calgary.
Nicholas Hon of Hon Towers Ltd., which wants to build two 42-storey towers on the site of a failed residential project by another developer in the old Victoria Park neighbourhood near the Calgary Stampede, said the first phase would consist of 321 units and the project will total 640 units.
Prices will range from $150,000 to $1.5 million per unit.
"We're launching our sales centre in March. We're hoping to break (ground) this summer and the construction schedule is 24 months. So we're slated for completion mid-2014," said Hon, of the site on land bounded by 11th and 12th Avenues S.E., Third Street and Olympic Way.
The early release presentation centre opens March 3 in a retail location on 11th Avenue in the base of the Arriva Tower. The full sales centre will open at the end of March in the old school location on the 12th Avenue side.
"I think there's a new shift in the way people want to live close to downtown. That's why you're seeing a resurgence in downtown condos," said Hon.
"There's a lot of talk about the next boom in Alberta. Since 2008, very few condos have been built and that inventory has now been absorbed.
Read more:
http://www.calgaryherald.com/business/Condo+project+reflects+growing+interest+inner+city+housing+market/6101867/story.html#ixzz1mPtoZalm
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