CALGARY – A new $110-million, 34-storey residential condo tower is being launched in the burgeoning Beltline community near Central Memorial Park, part of a development that will eventually include two highrise buildings.
Phase One of the project, Park Point, at 308 12th Ave. S.W., will have 286 units and is another sign of developer Qualex-Landmark’s faith in the Calgary real estate market as it has experienced $370 million in real estate sales in the Beltline community in the past decade, representing 1,009 homes.
The new project is located on the former CIBC Operations Centre building site. A second tower of 27 storeys and 216 homes is also planned for the future.
“Aside from what will be one of the most centralized real estate opportunities in the city, the exceptional, protected panoramic views of Calgary and Central Memorial Park makes Park Point the best of class location for investing in an active lifestyle in the rapidly evolving Calgary City Centre,” said Mohammed Esfahani, managing director of Qualex-Landmark, in a statement.
The company has completed the Stella, Luna, Nova and Calla highrise condo projects in the Beltline and the Mark on 10th tower is under construction with expected completion in late 2015.
Construction on Phase One of Park Point is expected to start in the fall of 2015 and completed by late 2017. Final pricing is not expected until September but units will be from the high-$200,000’s.
The new development is designed by the global architectural firm IBI Group. Phase One includes the 286 homes, primarily one and two bedrooms with optional den/flex space. Work/live homes will be located street level.
Amenity space will include a Yoga/Pilates Studio, steam room and sauna with change rooms, a private owners lounge and social space with a kitchen for entertaining, as well as a guest suite in each building. It will also have a 24 hour concierge, secured parking, bike storage and bike maintenance stations accessible to owners as well as vehicle, bike and dog wash areas. Overlooking Central Memorial Park is an outdoor Yoga/Pilates sundeck with additional outdoor space including a Zen Terrace, open air lounge with a firepit, barbecues and seating.
“Understanding the needs and desires of urban-focused customers has been our number one priority,” said Parham Mahboubi, vice president, marketing and new developments of Qualex-Landmark. “It has allowed us the opportunity to continue to redefine the urban home and continue to offer centralized, luxury living solutions to the Calgary professional.”
A rendering of the rooftop garden at Mark on 10th is part of Qualex-Landmark’s footprint in the condo market in Calgary’s Beltline neighbourhood.