Guardian sale part of uptick in luxury condo activity

The luxury apartment-style condo market is continuing to show movement in Calgary.

From January through the end of June, there were 13 sales of apartment-style condos priced $900,000 and higher in the city, up from eight a year earlier, says the Calgary Real Estate Board.

In June, CREB confirms an apartment sale in the city for “well over $4 million” marked the highest-priced sale in the segment through the MLS system in 2017. Further details of this transaction were not released.

Before that time, the distinction of highest price on a condo sold through the MLS system this year went to a new development in Victoria Park. Featuring two 44-storey towers, the Guardian

is the tallest residential development in the city. One of its subpenthouses, known as Paramount Suites, sold for its listing price of more than $2.4 million.

“I believe that a sale of a unit of this size and value is a sign that confidence is returning to the Calgary market,” says Ernest Hon, director of sales and marketing at Hon Developments, the developer behind the Guardian.

“We’ve also seen a revival of interest and sales of units of all sizes since the beginning of this year, but especially in the units on higher floors and unobstructed views,” he adds.

Prices at the Guardian start at $278,900.

“I think that we will see that buyers of luxury real estate will continue to be drawn to and purchase properties with the best combination of views, location, finishes, and amenities,” Hon says.

This Paramount Suite measures more than 2,400 square feet and boasts a 270-degree, wrap-round balcony on the 39th floor.

“Like all the homes in The Guardian, this home is fitted with Italianimported Armony Cucine kitchen and bathroom cabinetry and modern design finishes,” Hon says. “In addition, this unit is exception-

ally well-appointed, with Poliform walk-in closet systems, a spacious master ensuite with a free-standing sculptural tub, and a top-of-theline Miele appliance package.”

Hon says the buyers of the Paramount Suite were a retired Calgary couple. This unit had been on the market for three months.

“The purchase at list price, of this luxury Paramount Suite on the 39th floor reflects the fact that discerning yet realistic buyers continue to remain active within the high-end condo market,” Corinne Poffenroth, listing agent with Sotheby’s International Realty Canada.