This one has a name now, called The Broward. Again, all just on the Ontario broker's wesbsite who is still saying it is a Truman project, but nothing on Truman's website yet, so not sure. Also comes with a new nightime/dusk rendering:
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The Broward Condos | Plans & VIP Prices | Condos Deal

The Broward Condos is a development by Truman Homes located at 314 15 Avenue Southwest in Downtown Calgary. Floor Plans & Price List Click Here
www.condosdeal.com www.condosdeal.com
 
No. It’s on 15th Ave and 2nd Street SW. Those are zoned for residential, and all retail is a block away on the south, east, and west sides.
 
Holy crap. these are being marketed at ~$1,000psf (smallest unit @ 452sf, starting price @ $450k). For reference current re-sale units for sale in Park Point are asking ~$680-690sf. Stuff in Evolution is marketed at $570psf. Not to mention at 6-stories this building is almost for sure wood-frame and those are concrete comps.

For around $1,000psf i can buy a resale 2008ish build condo in Yaletown in Vancouver.
 
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Calgcouver said:
Holy crap. these are being marketed at ~$1,000psf (smallest unit @ 452sf, starting price @ $450k). For reference current re-sale units for sale in Park Point are asking ~$680-690sf. Stuff in Evolution is marketed at $570psf. Not to mention at 6-stories this building is almost for sure wood-frame and those are concrete comps.

For around $1,000psf i can buy a resale 2008ish build condo in Yaletown in Vancouver.
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I'm thinking this is probably aimed at the folks in Toronto...who will think it's a bargain.
 
Surrealplaces said:
I'm thinking this is probably aimed at the folks in Toronto...who will think it's a bargain.
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Here is the thing though, even looking at condos in Liberty Village or Queen West in Toronto, i am seeing stuff for $1,100-1,300psf for concrete stuff, so i'm just not seeing how this is a bargain at all. But i was suprised at the other Truman beltline project selling at $900psf to Toronto investors, so i'm not sure.
 
Calgcouver said:
Holy crap. these are being marketed at ~$1,000psf (smallest unit @ 452sf, starting price @ $450k). For reference current re-sale units for sale in Park Point are asking ~$680-690sf. Stuff in Evolution is marketed at $570psf. Not to mention at 6-stories this building is almost for sure wood-frame and those are concrete comps.

For around $1,000psf i can buy a resale 2008ish build condo in Yaletown in Vancouver.
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Truman is marking these with a 2-year rental guarantee (6% yield). Vancouver is going to be a very difficult place for condo investors to make any return as rent escalation is capped by the province (2% this year in a 7%+ inflationary environment). I think we are going to see a lot of investors walk away from their deposits on Vancouver condos as mortgage rate escalations erode profits so significantly, the cash flow streams are negative. Unless you believe that Vancouver real estate will continue to appreciate 5-10% a year, the math doesn't work.
 
Urb said:
Truman is marking these with a 2-year rental guarantee (6% yield). Vancouver is going to be a very difficult place for condo investors to make any return as rent escalation is capped by the province (2% this year in a 7%+ inflationary environment). I think we are going to see a lot of investors walk away from their deposits on Vancouver condos as mortgage rate escalations erode profits so significantly, the cash flow streams are negative. Unless you believe that Vancouver real estate will continue to appreciate 5-10% a year, the math doesn't work.
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You're not wrong at all about investors walking from the Vancouver market, but i am still struggling to see how even an investor detached from the reality of the Calgary market couldn't see how $1,000psf, wood-frame building isn't drastically above market when doing 10 min of DD. I also am not sure how these pencil out as a rental investment as $450k @5.5% interest is about $2,900/month (not including property tax or maintenance/strata fees). So what in the world would that owner of a $450k, 452sf unit need to rent for consistently to see a solid return and would that be in line with the current/future market rates or far above them?

All that said, i really love this project. I'm bummed about the loss of historic buildings) but this project is about as perfect as it gets for me.
 
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