Developer: Avi Urban
Architect: GEC Architecture
  
Address: 220 17 Ave SW,, Calgary
Category: Residential, Commercial (Retail)
Status: ConstructionCrane(s): 0
Height: 133 ft / 40.54 mStoreys: 14 storeys
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Sovereign | 40.54m | 14s | Avi Urban | GEC

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
 
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
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.
 
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.

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.
 
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.
 

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