$40M in sales at Park Point prove demand strong
July 17, 2015
Qualex-Landmark has sold $40 million of condos at Park Point only four months following its public launch. These sky-high sales scoff at those who predicted the worst-case scenario for Calgary’s real estate market – which, according to the Calgary Real Estate Board (CREB), never materialized.
Park Point is newest addition to Qualex-Landmark’s portfolio in the Calgary Beltline community, taking shape as a uniquely designed, 34-storey, mixed-use tower with 289 homes.
Park Point’s starring features:
– Representing the tallest building in the immediate neighbourhood, Park Point will be a landmark in the Beltline Community. Its location across from the historic Central Memorial Park, one of Canada’s oldest urban parks, offers an active and carefree lifestyle in a thriving and evolving City Centre.
– Park Point boasts one-, two- and three-bedroom (plus den/flex room), street-level live-work townhomes and penthouses, priced from $250,000.
– The square footage of condos sold at Park Point to date is equal to six city blocks in a single-family neighbourhood.
– Homebuyers can select residences based on their preferred outlook, with each vantage offering a prime view toward downtown, the Rocky Mountains, Central Memorial Park and the dramatic downtown skyline and beyond. Balconies are also designed larger to accommodate outdoor entertaining.
– Park Point includes a fully equipped fitness facility with exercise equipment, yoga/Pilates studio, steam room, sauna and his/her change rooms with showers, a private owners’ social lounge club with kitchen, and fireplace.
– Park Point will host nearly 9,000 sq. ft. of amenities atop the tower podium on the third floor, including a Zen Terrace with seating and water feature, social air lounge seating with fire-pit, barbecue area with large harvest table, and a yoga/Pilates sundeck overlooking Central Memorial Park.
– Parking, bicycle storage and maintenance stations will be readily accessible as well as vehicle, bike and dog wash areas. Park Point residents will also have free Wi-Fi in amenity areas and lobby and 24 hour concierge service.
“In just over four months, we sold more than a third of the tower, which is a fantastic achievement considering the downturn in the local economy this year,” says Mohammed Esfahani, president of Qualex-Landmark. “We are confident that well-located sites, thoughtfully planned homes in established amenity-rich communities are going to continue to attract homebuyers, due to the increasing popularity of carefree urban living.”
“The housing market is showing some signs of stability right now,” says CREB chief economist Ann-Marie Lurie. According to CREB’s latest statistics, sales in June 2015 were consistent with typical levels. Despite an 18-per-cent decline in home sales from June 2014, sales remain only five per cent below the 10-year average for June and three per cent above levels over the past five years. The overall months of supply continues to remain balanced, at 2.3 months. Second quarter results further affirm the stability in Calgary’s real estate market. According to the report, “The year-over-year decline in sales activity eased from 32 per cent in the first quarter to 22 per cent in the second quarter.”
“We have strong faith in the Calgary real estate market and have a long-term vision for our future in the city. We have no intention of slowing down. Sales have been steady since our launch and we expect that to continue,” says Esfahani.
Author: YP Next Home Staff
Published: 16/07/2015