A couple of months ago I wrote about Calgary's expanding condo market and since then it has continued to grow. A new record has been set with the listing of a two-story 4,400-square-foot luxury penthouse condo for $10 million at the Astoria on Tenth tower. The penthouse will be available in either a classic or contemporary style. It will have 1,200 square feet of outdoor space spread out over five balconies. The apartment will have top-of-the-line finishes, limestone fireplaces and crystal chandeliers. The apartment will include a large private wine vault, media room, billiards room, built-in cappuccino machine and a library. An interior finishing package will be sold for $1 million with $500,000 for home automation and a high-end audio-visual system.

The Astoria will have 225 suites more than half of which have already been sold. The 35-story tower will also have commercial space, with retail space on the main level and mezzanine. Occupancy is planned for 2010.

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.