Calgary Condo Market Still Growing
The Canadian luxury condo market continues to surge. According to the National Post, Concord Pacific Inc. is planning a new luxury development in the hot Calgary market. The project will be located in the Eau Claire area and Terry Hui, Concord Pacific's president and chief executive, says that the project will be the most high-end building the city has ever seen. The 14-floor condominium will contain 185 grand luxury suites ranging between 1,000 square feet to 5,000 square feet. The project will be designed by Canadian architects Arthur Erickson and Peter Busby. Can Calgary support a project with units of a $1-million to $5-million selling price? Local condo watchers say yes. Check out this recent article by Richard White in the Calgary Herald. He got his hands on a copy of independent condo market research firm MPC Intelligence's newly released Calgary Condominium Market Report which shows that Calgary is still going strong, although it's not as hot as it was in 2005/2006 when projects would sell out in a couple of days.