cameronhowe
Active Member
Just saw this unit listed on realtor.ca, 1 bed/1 bath for $457k 
Sovereign | 40.54m | 14s | Avi Urban | GEC
- Thread starter Surrealplaces
- Start date
ThujaPlicata
Active Member
That is around $910/square foot - and I'm not 100% sure it includes a titled parking stall.
That does seem high.
For example when compared to this listing a few blocks away.
For example when compared to this listing a few blocks away.
Albertasaurus
Active Member
Yeah you definitely get A LOT more for your money with that option. A much bigger unit with parking included and more natural light.
Chinook Arch
Active Member
I thought sovereign would be one of the next ones to get built but, with prices like that, Sovereign won’t be built anytime soon
Nawads
Active Member
While I agree that the pricing is high and is relying on the market condo price to keep increasing 10+% per year to make the numbers seem reasonable by the time they're finished. Truman has had success with similar if not higher prices for Broward, Gallery, and Imperia.
Gullfoss
New Member
We're Gallery, Imperia or Broward marketed in Calgary at all? Or were all the condos sold to these out of town "investors"? If so, my takeaway remains that Toronto investors are "very stupid at best", but perhaps Truman is better selling to them.
FWIW, I'm a fan of this strategy. I couldn't care less what happens to the investment returns of questionable investments. But every condo they commit to is additional supply in Calgary and that helps with housing supply and the buildout of downtown. Even more so with the high quality of projects that Truman seems to be developing. If anything we need more stupid investors in this city.
maestro
Senior Member
The same investment that has driven up pricing in Toronto is more than capable to dominant pricing in Calgary. Truman can sell and build 10,000 units for these investors. The increased supply is not advantageous to the city if they rent for $3000 a month.
CalgaryTiger
Senior Member
Do they rent for $3k?
CalgaryTiger
Senior Member
Need to check the DMAP and for permits but it looks like the sales centre is ready to be moved off the site. Also could mean they're pulling back and going to sit on the site...
whatchyyc
Active Member
Could be they need to move it in order to start construction. Fingers crossed.
CalgaryTiger
Senior Member
To this point, it has only been moved to the northeast corner of the lot. Perhaps it will go across 17th once this DP is approved? Moving it from southwest corner maybe allows them to get going on something.
Gullfoss
New Member
I received an email from a contact noting they are preparing to break ground for construction
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Gullfoss
New Member
The DP was approved in 2017.