MILLENNIAL WOMEN FLOCKING TO MISSION
Condo lifestyle in Calgary’s inner city proving popular with young professionals
With its diverse collection of funky cafés, upscale boutiques and hopping wine bars and pubs, Mission is attracting young, urban professionals in droves and it would seem that women are leading the pack.
“We are finding that it is the millennial female predominantly that is purchasing and really enjoying the vibe,” says developer Harold Sicherman. He recently conducted an informal survey with buyers in his sold-out District condominium project, finding that 65 per cent of buyers were women between the ages of 20 and 35.
Sapna Sharma, a 31-year-old realtor, purchased a one-bedroom plus den model in the District, taking possession in December 2015, mere months after finishing a graduate degree in athletic studies and education (she’s a former member of the national women’s baseball team) and then switching gears into the world of real estate.
“I love being an entrepreneur and having a home office is fantastic,” says Sharma, who had rented in Mission for a number of years before delving into home ownership.
“But when they raised my rent from $900 to $1,200, I knew that it was time,” she says.
She was already sold on Mission — its culture, its proximity to the river, its walkability and pulse. Not to mention that she feels safe.
“It really reminds me of the Yonge and Eglinton vibe just outside of downtown Toronto,” she says.
Born and raised in Toronto, Sapna covets a walkable lifestyle and even now she rides her bike to the grocery store, using a basket to transport purchases.
“I really see Calgary growing like Toronto did, and I think Mission is such a great area. It’s got this super hip vibe,” she says.
She’s not alone in coveting the community and its amenities, census statistics indicate that 42 per cent of Mission’s population is between 25 and 34 years of age.
She was drawn to the District because it was a new build and she could save for the down payment. Plus she was able to purchase a southwest facing home.
“I work from home and I love that I have so much light,” she says.
Sicherman, who has been developing and refurbishing inner-city condominium projects in Mission for close to 20 years, has parlayed all of his recent survey information into the design of his most recent project — the Matrix.
Located approximately 100 feet from the District, near 4th Street and 17th Avenue S.W., the Matrix will offer a selection of one- and two-bedroom homes ranging from 612 to 868 square feet. Designed by Gravity Architecture, the five-storey building features some interesting elements, including ground floor homes with generous fenced backyards, complete with heated doghouses. One bedroom plus den models are also offered.
Homes feature nine-foot ceilings, upscale kitchens with gas stove tops and eating bars, along
with oversized walk-in closets, perfect for displaying the Jimmy Choos. All 67 homes have an outdoor terrace with top floor homes providing a penthouse experience.
Most of the buildings surrounding the Matrix are three storeys, allowing the top two floors of the Matrix to capture some lovely downtown skyline vistas.
Prices start at just under $300,000 and include heated underground parking, bicycle storage and access to the pet wash.
But what Sicherman says millennials will find most appealing are the financing options.
“We are really trying to assist people with their down payments and their payment structures because it is becoming harder and harder for people to buy,” says Sicherman.
A staged down payment deposit plan is available with payments spread over 24 months, as are interest-only mortgages.
“Plus with rising interest rates Matrix can provide 24 or 36 month rate holds to all buyers,” says Sicherman.