The Concord condo's

[Tik-Tok]

A Vancouver developer has unveiled the design for what it's calling Calgary's most luxurious condominium complex, the latest entry in a red-hot market that is attracting high-end buyers to the city.

"This is absolutely top of the line," Grant Murray, Concord Pacific's vice president of sales, said Tuesday of the development called The Concord.
The Concord

The Concord, a new entry in Calgary's growing condominium market, will be built in the Eau Claire district. (Concord)

With kitchens worth a cool $270,000 and four-car garages available, it's hard to accuse the developer of overstatement.

The 350,000-square-foot complex comprising just 218 units will go up in the heart of Eau Claire, across from Prince's Island Park.

"The smallest suite is 1,050 square feet," Murray said, while the largest is a 6,000-square-foot penthouse.

The prices start at about $1 million and climb to $13 million for a penthouse suite, Murray said.

And if the price range sounds outrageous, Murray says Calgary's market can handle it.

"We've looked at the demographics," he told CBC News. "You've had 97 [single-family home] sales in the month of May of a million dollars or greater … that's just in one month!"
Sotheby's flies in potential clients

That kind of market has prompted Sotheby's International realtor Mark Everdon to offer a special come-on to entice likely buyers.

Calgary real estate nearing seller's market, says report
Curbing urban sprawl, flood driving up home prices, say economists

Potential clients interested in multimillion-dollar properties call up Everndon's team, which dispatches a jet to pick them up and fly them to Calgary.

"Usually, with the properties in the surrounding areas I'm working with — you know, 10-, 20-, 30-, 40-million-dollar properties — we can be there in less than five minutes," Everndon said.

Concorde Pacific's Murray said he knows that even with Calgary's red-hot high-end market, the firm faces a lot of work selling the new development

"We know it's going to take a little longer for us to sell this project," he said, "but that doesn't allow us to back off from presenting something special."

Construction on the development is set to begin next March, with completion expected in three years.

Wow. You bought too soon Flipster!

[Sugarphreak]

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[roopi]

Originally posted by Sugarphreak
Uh, WTF? Seriously

Putting A & B together:

a) smallest suite is 1,050 square feet
b) prices start at about $1 million

Who would pay 1M for 1050 square feet?

I read another article about this and it had stated there are going to be a couple 2 bedroom suites around 700k. Here it is with some additional details:

http://www.calgaryherald.com/sports/...726/story.html

Sounds like it has some nice amenities:

Exterior amenities include a central water garden situated between the two buildings which will act as a pond in the summer and a skating rink in the winter; a fire pit lounge, an outdoor kitchen and a seating area surrounding the water garden; and hose and gas bibs for all terraces and balconies (where applicable)

Interior amenities: include the Grand Room featuring a gourmet kitchen, indoor/outdoor dining area and a bar and lounge; a meeting room; a luxury parkade featuring a heated entrance ramp, automated under-carriage and tire carwash bay, automatic car wash and area, a dedicated manual car wash bay and multiple hose bibs to facilitate parkade cleaning; direct elevator access to all Private Residences and Estate Penthouses; oversized garages ranging from double to double plus storage or extra parking; swimming pool, hot tub, sauna and steam room; and state-of-the-art fitness facility, yoga room and golf simulator.

[Tik-Tok]

Originally posted by Sugarphreak

Who would pay 1M for 1050 square feet?

Wealthy people Jaguars, not just poor peasants with Benz's

I don't know Calgary's elitest market at all, but it does seem crazy to me.

[roopi]

Doesn't seem too crazy at all. You have Sotheby's flying potential clients into Calgary on private jets and then taking them via helicopter to see properties around the city.

[4DoorGTZ]

I see the finger-trap pedestrian bridge view a huge plus to the Asian clients.

[max_boost]

I drove by and love the area. The peace bridge is really nice but too bad I can't afford it. The project looks dynamite.

[Sugarphreak]

...

[whiskas]

Not only is it $1000+/sqft but the condo fees will probably be setting a new record. There are still a lot of empty penthouses in the downtown core.

I don't see the demand for this when you can get a mcmansion not too far away in a suburb for that much.

[Prail]

Will be interesting to see how it goes...

Guesses on the condo fees...? .90 to 1.15 per sq ft to start?

[flipstah]

LOL is this that complex with the glass garages? BALLLAAAAHHHH!

[ExtraSlow]

I am in.

[flipstah]

I have to say, their website is pretty baller:

http://www.theconcord.ca/

Maybe it'll push development of the Eau Claire Mall or whatever is going to happen to that land?

[snowcat]

Originally posted by flipstah
I have to say, their website is pretty baller:

http://www.theconcord.ca/

Maybe it'll push development of the Eau Claire Mall or whatever is going to happen to that land?

Welcome to parallax websites

http://prinzhorn.github.io/skrollr/

[l/l/rX]

Just came back from our showing that we had and I must say it is mighty impressive. The first buildings condo fees will be about $0.55/sq ft, once the 2nd building is done it'll go up to about $0.75/ sq ft. The 2nd building houses all the amenities, pool, hot tub, gym, yoga room.

They have private garages in the underground, that can hold 4 cars plus you can put some car lifts in there.

[Xtrema]

Originally posted by Sugarphreak

Who would pay 1M for 1050 square feet?

Mainland Chinese who are used to this type of valuation.

[Tik-Tok]

Originally posted by l/l/rX

They have private garages in the underground, that can hold 4 cars plus you can put some car lifts in there.

That alone would make it worth it. Aren't parking spots like $30g a piece these days anyhow? So really it's 1050sq.ft for $880g

[max_boost]

Originally posted by Xtrema


Mainland Chinese who are used to this type of valuation.

And there a lot of them. Real fucking ballers. Pay CASH. I hope they sign up on Beyond so it'll be ballers vs grammar police.

[l/l/rX]

Originally posted by Tik-Tok


That alone would make it worth it. Aren't parking spots like $30g a piece these days anyhow? So really it's 1050sq.ft for $880g

The "smaller" units come with 2 parking spots, one in front another, other units come with stalls beside each other, other units come with the parking garage.

Apparently building 1 is already 25% sold, is what the sales person said, 107 units in 1st building, 105 in 2nd building.

[flipstah]

Originally posted by l/l/rX
Just came back from our showing that we had and I must say it is mighty impressive. The first buildings condo fees will be about $0.55/sq ft, once the 2nd building is done it'll go up to about $0.75/ sq ft. The 2nd building houses all the amenities, pool, hot tub, gym, yoga room.

They have private garages in the underground, that can hold 4 cars plus you can put some car lifts in there.

All I read was 'high-maintenance'. I guess if you can afford a lift, you can afford repairs for it.