‘Out of the box’ design in Beltline
6th and Tenth project halfway sold
Sales are well underway at 6th and Tenth, a 230-unit condo project planned in the Beltline.
“We’re about halfway — 115 units — sold,” says Brad J. Lamb, principal of Lamb Development Corp. in Toronto, the company behind the stylish glass and concrete highrise.
“The project was fully approved in the fall and we’re doing our construction drawings, which take about seven or eight months,” he says.“We’re probably still a month away from having a complete set of construction drawings.”
Lamb Development is lining up trades people, pricing various elements of the building and working on construction financing.
“We should be, fingers crossed, breaking ground this summer, possibly June,” says Lamb.
There are one-bedroom units, along with one-bedroom-plus- den condos. Other floor plans include two-bedroom and twobedroom-plus-den units.
They range from 449 square feet to 1,950 square feet. Prices start at $215,900 and condo fees are $0.47 per square foot.
Possessions are expected in June 2015.
The condo will feature a podiumtop terrace with an outdoor pool. A plaza-style art park will mark the corner of 6th Street and 1th Avenue S.W.
The main level will have commercial space and a restaurant is a possibility.
“We’re getting super-positive stuff from the standpoint of location and design,” says Lamb about the response from buyers. “It’s a little out of the box compared to what people are doing or have done in Calgary before. It’s a bit more style- and designoriented than developers have been offering in Calgary.”
The motivation of buyers in Calgary is different than in the projects Lamb has been a part of in Toronto, he says.
“The really refreshing thing about Calgary is the people that actually buy real estate in Calgary plan on living in it," he says. "In Toronto, about 50 per cent of the people that buy real estate in sales offices have no
C MVisit our website for more photos. intention of living in it — a lot of investors.”
While rent levels in Calgary are about the same as Toronto, the price of highrise real estate is about 23 per cent or 22 per cent lower, he says.
“We have had interest from people who want investment condos — and that’s a whole side of things I don’t think people in Calgary have cottoned on to yet,” he says.
“There’s a tremendous upside for people to buy condominiums to rent as investment properties, as long-term options for retirement savings and investing. It’s something people should be looking at more as investment properties, rather than duplexes or houses or triplexes.
"They can look at a small condo as an easier way to enter the investment marketplace.”
The kitchen in the show suite includes stainless-steel appliances. BRAD LAMB, LAMB DEVELOPMENT CORP.
The exterior of the presentation centre.