Some things I didn't mention before...
In the presentation they touched on the Walk To Work tax incentive, and pointed out that a 1.25% tax break on purchase price would be worth $12,500 to $17,500.
I think that suggests the purchase prices would be in a range from $200,000 to $280,000
Somebody said they talked to the designers? There weren't any at our session.
In attendance was the appointed architect from chamberlain-online:
and some young sales reps from here:
The sales reps seemed to only have cursory info, shifting questions over to the architect.
It's scary that the architect firm has such a low quality web site graphics, but they do have a nice portfolio of slick projects so maybe it's just their web dept that is weak.
There were a couple of well dressed people kind of hovering at the back that I suppose could have been owner-investors.
My instinct is that the hotel is a done deal and the residential tower is more of a speculation at this point. I got the feeling that the team was excited at the prospect of a fresh market for a formula that has run dry in other cities.
In other cities they've had lineups for >$250,000 shoebox sized condos, with buyers purchasing one to live in and one as investment. But I'm not sure this market is the same.
Perhaps if they do something dramatic like price units below $150,000 they'll get some fast action.
But in the center of Regina they'll be selling against re-sale units in Victoria Place, TD building and Hamilton building. And against new units in Canterbury, Evans Court and Leader Building. Then there are the constant development options springing up in the suburbs and other projects of a dozen spots here and a dozen there.
With a lot of supply coming on at the same time, things could get really competitive price-wise.