It’s the two-storey condo, also known as the “stacked” townhome or “sky home” or “condo loft.” Calgarians are loving them and buying them.
Most condo developers began offering two-storey townhomes in low, mid and high-rise condo buildings several years ago, but they’ve only now become almost standard fare in new builds. Units can be at ground level, sometimes with a municipal street address separate from the building, or above grade. Townhomes appeal to buyers who want an “upstairs” and a “downstairs.”
The upstairs/downstairs lifestyle at street-level appeals to those who like immediate access outdoors. Units on higher floors offer separation of space with the lofty allure of high-rise views. By placing a two-storey floor plan within the context of a building, home owners can revel in shared amenities such as exercise rooms, rooftop terraces, 24-hour concierge, security, underground parking and guest suites.
Park Point by Qualex Landmark is a high-rise building currently under construction in Calgary’s dense Beltline neighbourhood where the townhome concept is an attractive option. Planning and marketing vice-president Parham Mahboubi calls them a hybrid — the feel of a single-family home but with a smaller footprint. The two-storey floor plans are 75 per cent sold in Park Point and Qualex Landmark has including them in other condo projects in Calgary, such as Stella, Nova, Luna and Calla.
Mahboubi says that most townhome buyers are looking for a central, amenity-rich location such as the Beltline where everything is within walking distance.
“Typically, low-density suburban communities cannot provide these conveniences and, unfortunately, single-family homes in the downtown are beyond the range of the average home buyer. So, the next best thing is a townhome, such as the tower podiums at Park Point,” he says. “Townhomes also appeal to buyers seeking a lock’n’go, hassle-free lifestyle. They don’t need to worry about property maintenance.”
Land use regulations at Park Point allow townhomes to function as work/live properties, so home owners can operate a business downstairs while their home is upstairs. Townhomes often cost less than a single-family home but more than a conventional “flat” condo suite, but that depends on where it’s situated in the building.
“The average price per square foot for our two-bedroom, live-work townhomes located at podium level of Park Point is roughly $661 per square foot compared to $665 per square foot for our two-bedroom condo ‘flats’ located up on the fifth floor,” says Mahboubi.
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Written by: Cindy Stephen
Date: April 7, 2017