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“We find it’s much easier to sell inner-city at reasonable prices than in the suburbs.”
The suites at 201 Tuxedo North will range from about 813 to just about 1,100 square feet and will be priced from $259,000, says Widdowson.
Of the 29 apartments, 26 are two-bed/ two-bath and three are twobed/one-bath.
Despite the fact there is no on-site sales and information centre, the development is already onethird sold.
“That’s what I mean — find a good property in a good location, price it well and it will sell,” says Widdowson.
The sales centre is located at Copperwood, Sandlewood’s successful apartment complex on Hemlock Crescent behind the Shaganappi golf course in Spruce Cliff.
A specific show suite has been trimmed out to show possible purchasers in Tuxedo the level of finishing specifications they can look forward to — such as granite countertops, ceramic tile and hardwood floors, top-line appliances and Sandlewood’s in house-built custom cabinets.
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“All of this is standard in Tuxedo,” says Widdowson.
Sandlewood purchased the Tuxedo property very early this year, taking on the assets owned by the previous developer.
“We’ve tweaked the original floor plans, added more finish upgrades like the hardwood, tile and granite, and were able to maintain affordability while doing it,” says Widdowson.
Affordability, value and location are key elements to developing in inner-city locations, as is being able to take advantage of existing high points.
In Tuxedo, for instance, the community is near public transit, there are neighbourhood amenities — and there is the walkability factor. In the city’s most recent survey, Tuxedo was ranked in the top 15 communities for walkability.
Widdowson expects buyers will cover a variety of demo- graphics — from young singles and couples just starting out, to professionals working downtown and more mature buyers looking for a lifestyle change.
“Another buyer segment is people from the surrounding area who want to stay there, but want to get out of that older thousand-square-foot home and into a thousandsquare-foot apartment and have no maintenance,” he says.
While construction is just underway at the Tuxedo site, Sandlewood continues to shop the established areas of Calgary for potential building sites.
“It’s all about location and value. That’s what important to us and to our customers,” says Widdowson.