Calgary Condo Talk

[*Stardust*]

I was under the impression that the 12th avenue side was going to be Live/Work units (Glorified Townhouses) and that the 11th avenue side was going to be retail. That will probably be phase 2 though.

[mersar]

Originally Posted by *Stardust*

I was under the impression that the 12th avenue side was going to be Live/Work units (Glorified Townhouses) and that the 11th avenue side was going to be retail. That will probably be phase 2 though.

An earlier revision I saw actually had retail on the 12th Ave side as well.

[Amsterdamned]

Originally Posted by *Stardust*

I was under the impression that the 12th avenue side was going to be Live/Work units (Glorified Townhouses) and that the 11th avenue side was going to be retail. That will probably be phase 2 though.

I am very much interested in purchasing a live/work unit but these units they are pitching are hardly live/work. As you noted, they are glorified townhouses. I think they meant, live here/work elsewhere units.

[Surrealplaces]

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[Spring2008]

Good news about Radius launching in the Spring, another 200 units for Bridgeland:

http://www.calgarysun.com/2015/01/30/radius-to-stand-out-in-bridgeland

[Electrical Storm]

Pricing for Park Point has been released via email for registered guests:

"We are getting closer to starting sales at Park Point! As a Priority Guest, we wanted to offer you the opportunity to purchase your new home at Park Point prior to the Public, and also to take advantage of an exclusive 2% Discount only available until February 24th.

We have just released our starting prices for each floor plan, please note these prices are not including the 2% Discount being offered:

1 Bedroom:

04 Plan - 1 Bedroom - 505 sq ft - starting at $286,000*
01 Plan - 1 Bedroom - 560 sq ft - starting at $350,000
03 Plan - 1 Bedroom + Flex - 570 sq ft - starting at $354,000
09 Plan - 1 Bedroom + Den - 588 sq ft - starting at $358,000
02 Plan - 1 Bedroom + Flex - 642 sq ft - starting at $380,000
06 Plan - 1 Bedroom + Den - 646 sq ft - starting at $388,000

2 Bedroom:
05 Plan - 2 Bedroom - 854 sq ft - starting at $494,000
07 Plan - 2 Bedroom + Den - 991 - 1,024 sq ft - starting at $650,000
08 Plan - 2 Bedroom + Den - 985 - 678 sq ft - starting at $678,000

Live/Work Plans 1-8 - 2 Bedroom + Den/Storage - 1,030 - 1,300 sq ft - starting at $654,000
All prices are exclusive of GST.

*All Homes, with the exception of the 04 Plan, include titled parking. All suites will include storage locker.

We are currently taking Purchase Appointments starting on February 21st, to ensure you receive the earliest appointment, contact us by phone or email for availability."


[Source: Qualex-Landmark email communication, Park Point - Exclusive Promotion]

[Sands]

wow. Thats really expensive!!!

[*Stardust*]

That's extremely expensive. The features and finishes better be high end for those prices.

[Electrical Storm]

Originally Posted by *Stardust*

That's extremely expensive. The features and finishes better be high end for those prices.

Yeah, not cheap! Add in GST and you're looking at $368k for the cheapest 560 sq. ft. unit with parking.

I expected a slightly lower price point. AFAIK, the features and finishes will be similar to those in Mark (sleek European kitchens, small integrated appliances, etc.)

[lorenavedon]

some of those prices reflect oil at $500/barrel not $50. What are they selling here, condos or tulip bulbs

[Spring2008]

VIP sales launch for Park Point this weekend, it'll be interesting seeing how much they sell at those prices. Last big launch, Parkside, almost sold out opening weekend but that was right before the oil collapse.


http://www.calgary-condos.com/blog/exclu...o-development-coming-to-the-beltlin.html

[geotag277]

Those are pre-construction prices too, wow. With a measly 2% discount.

This development will likely set the pace for Calgary development through this downturn. Let's see if they can pull it off. I'm watching it closely.

[flipstah]

I have a feeling if things don't go well for the VIP viewings, it'll drop ~10% in prices.

[suburbia]

cross-posting given relevance ...

Found these in the construction thread that would be relevant here in context of condos:

Originally Posted by WhipperSnapper

It's usually an arduous process with 3 to 6 months of keeping a log before any action by the board or management takes place. It may be another 6 months or longer before the issue is resolved. Condo living is a short term situation for most.

I've seen people take full propane tanks to their illegal barbecues in elevators. They have no clue the world of shit they could be getting the building into.

This is an interesting point. When you get a condo, it may actually appeal to you because of various rules, but if the rules you so love cannot be policed, what good is it?

Originally Posted by Bigtime

Hell we had a hard enough time getting a unit owner to pay for elevator damage when a person with their FOB got on one and kicked the glass panel on the elevator wall breaking it. They were on video, identified and had used the FOB programmed for their unit in the elevator, and still we had to battle back and forth with the unit owner for the repair bill.

Coming from Bigtime, this is a completely credible example. Kudos to him for volunteering it, as I know he has a soft spot for condos (though he left that lifestyle for I'm sure excellent and defensible reasons).

Originally Posted by WhipperSnapper

No. Balconies are common areas which home owners have exclusive rights to use. Condo boards can place many restrictions on otherwise "legal" things you can do in your unit. What you actually own as a suite owner is very little.

This is why counting balcony sf as some condo pumpers do is not fair. Furthermore, I don't think condo owners really get what little they get. They don't own much at all.

Originally Posted by Halofire

Exactly. Similarly with condos that are 18+. You will get kicked out if you decide to have a child, which would normally seem like an egregious violation of the charter or rights, but you are essentially signing a contract when you purchase a condo, and in doing so, you are bound by the bylaws; as is the condo board. Changing the bylaws is extremely difficult, so unless the smoking ban was in there originally.... good luck.

With condos, the only thing you're actually left holding is your pouch.

File these in the folder, "what sprinklers won't fix".

[geotag277]

Originally Posted by flipstah

I have a feeling if things don't go well for the VIP viewings, it'll drop ~10% in prices.

It might not be that far fetched that they sell enough at current prices.

Condo vacancy rates are generally pretty low, and units in the core command the highest rents. I'm sure with $1600/month rental rates for 1 bedrooms this could make financial sense for somebody.

http://www.rentersguide.ca/expert-advice/vacancy-rate-for-rental-condos-in-calgary-rem/20863/

Housing starts are also way down for Calgary and unemployment actually went down for the province, these people have to live somewhere.

[*Stardust*]

Anyone want to make a friendly bet on how much Qualex will sell at Park point opening weekend at those ridiculous prices? We'll do it Price is Right style.


By the time Monday comes I anticipate it will be 30% sold. I can't see this having as much of a warm reception like Calla and Mark did. With the economy the way it is and those outrageous prices. Even investors who usually buy in pre sales might be a little weary.

Any other bets?

[geotag277]

Originally Posted by *Stardust*

Anyone want to make a friendly bet on how much Qualex will sell at Park point opening weekend at those ridiculous prices? We'll do it Price is Right style.


By the time Monday comes I anticipate it will be 30% sold. I can't see this having as much of a warm reception like Calla and Mark did. With the economy the way it is and those outrageous prices. Even investors who usually buy in pre sales might be a little weary.

Any other bets?

The thing is I didn't even think Park Point was being marketed as a super high end place. I thought it was along the lines of Mark and Luna, affordable units for young professionals.

Park Place seems on another level entirely.

Let's hope they don't screw the pooch. This will likely set the tone for the rest of the year in terms of Calgary residential developments, if they aren't successful it could have a ripple effect.

[lorenavedon]

Originally Posted by *Stardust*

Anyone want to make a friendly bet on how much Qualex will sell at Park point opening weekend at those ridiculous prices? We'll do it Price is Right style.


By the time Monday comes I anticipate it will be 30% sold. I can't see this having as much of a warm reception like Calla and Mark did. With the economy the way it is and those outrageous prices. Even investors who usually buy in pre sales might be a little weary.

Any other bets?

I think the more interesting question with these new developments is how many people are buying them as a place to call home, vs rich millionaire/billionaire investors using them as a way to park money or speculate. Those are the numbers I want.

[Ramsayfarian]

Originally Posted by suburbia

cross-posting given relevance ...

Found these in the construction thread that would be relevant here in context of condos:



This is an interesting point. When you get a condo, it may actually appeal to you because of various rules, but if the rules you so love cannot be policed, what good is it?



Coming from Bigtime, this is a completely credible example. Kudos to him for volunteering it, as I know he has a soft spot for condos (though he left that lifestyle for I'm sure excellent and defensible reasons).



This is why counting balcony sf as some condo pumpers do is not fair. Furthermore, I don't think condo owners really get what little they get. They don't own much at all.



With condos, the only thing you're actually left holding is your pouch.

File these in the folder, "what sprinklers won't fix".

Blah, blah, blah, blah. So what is your point? Are you saying we should all be living in single family homes?

[Policy Wonk]

It might be workable for many people, but the fact remains that condos are the most asinine ownership vehicle devised since the selion.