/\ 650 sq. ft for $200k? That is just over $300k a square foot! You can't even break-even selling at those prices considering current prices of materials and labour. These units are priced between $450-550 sq/ft. A little on the high side as I was hoping they'd be closer to $400-45 sq/ft, but not ridiculous. What Edmonton does need is more options in terms of smaller spaces and prices points for young professionals. The first developer who really understands this, and capitalizes on it in a good location will do very well and have quick sales numbers.
As for tiny, I'm not sure what you mean. A whole range of sq. ft. options, at different price points. You can't argue it both ways. You want lots of space for small-town Nova Scotia prices.
And, yes it will have amenities. But note that as amenities space increases, so do your condo fees to reflect that. With condo fees for new construction in Toronto's multi-family market ranging between 0.37-0.48 cents/sq.ft., it can get pricy very fast. Developers are taking note of this, and are being more conservative with what they build.
As for the current economic situations in Edmonton, things are on such an accelerated pace as of late, the reality is far from the recession 2-3 yrs ago. The Pearl will likely sell a good 70% rather quickly. The sub-penthouse and penthouse units may take some more time.
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Cities are the most extraordinary human creation. They are this phenomenon which has unbelievable capacity to solve problems, to innovate, to invent, to create prosperity, to make change and continually reform. - Ken Greenburg
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