Era | 41.15m | 13s | Minto

gsunnyg said:
Honeslty Im not suprised it sold out relatively quickly, even if it was to an investor. The unit prices were extremely cheap for the location. If I had enough for a down I would've loved to buy my first condo here.
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As a recent condo buyer, we found that Bridgeland lacks some segments of the residential market, particularly on the lower cost/entry condo segment. In this case, for $200,000 / door 1 bedrooms, with low fees (to start) and probably a bulk discount by buying multiple/all units, you could make a reasonable play with current rental rates which I find to be about $1,200 (old units) to $1,600-$2,000 (new builds) 1 bedrooms.

We found we could modestly cashflow positively from Day 1 with those assumptions on a cheap condo, and I am sure I am not borrowing at as good of a rate as a company that can buy a whole building can. Unlike many other inner city communities, Bridgeland lacks many units in that entry-level price range, as most recent builds were built in booms and have some stickily high prices that weren't affordable for us. Perhaps rental investors have noticed the gap as well and acted on it.
 
Hello !
Attached is the price list which i received from RE agent. I do not live in Calgary and wanted to know if this is a good investment as Calgary is now a buyers market.
5% deposit with Project completion date : 2023/2024 plus 2 years rental guarantee after occupancy (6.5% of the purchase price)
Can someone provide some insight if the prices (roughly $500 per sq ft) are reasonable for this area/condo and as an investor if this is a right investment.
Thank you!
Link: https://truecondos.com/crew-era-con...f71c2c06476ca680f8914173f9191b1c0223e68310bb1
 

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I think $500/sq ft in an area like Bridgeland is a reasonable price. Not super cheap, but it's reasonable. A co worker of mine bought a place in Skyview, it's a really crappy built wood frame building in the middle of nowhere and was still around $270/sq ft. That's the crappiest type of condo in one of the least desirable places to live.
 
Thank you for the feedback! Anyone invested in this project with Minto Era?

As I’m not familiar with Calgary RE market, I heard it’s a buyer market now with positive cash flow. Any feedback on the Bridgeland area ? From google map it’s a short walk to downtown but not sure if LRT or bus service, restaurants etc are closeby.
 
I have a couple of friends who live in Bridgeland and love the neighborhood. Personally, I like it too. It's really being built up lately, with recently built projects and new ones u/c. These three are currently under construction Dominion, Steps, Columbus Court, and this one, rumored to be starting soon

Here are a couple of videos of the area. They're older videos, and missing some new developments, but gives you a good idea of the general area.

 
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