Building in a Flood Zone! No Worries
There is a new condo development coming to Calgary and it will be right next to the banks of the Bow River. Why? According to the company Concord Pacific Inc. Vancouver-based, the Concord will have the latest and best engineered flood and emergency preparedness. It will be designed in Canada, according to Concord spokespeople.
Concord plans to sell the residential units at record-breaking prices. People want luxury and the company’ history proves that it is behind some of North America’s largest urban real-estate projects. With its first foray into the booming Calgary market it hopes to attract the wealthy.
City’s Wealthy Residents
The complex, on the edge of downtown Calgary, will include just under 200 luxury homes anchored around a 105-suite, 14-storey tower. The president and chief executive of Concord Pacific, Terry Hui, said that the Eau Claire project will offer the city’s wealthy businesspeople that special high-end, superior type of residency that the downtown core has yet to see.
Mr. Terry Hui speaks proudly of the project. “We’re lucky,” he said. “We’re going to probably launch the most luxurious and the best site in Calgary.” He added, “When we launch it, it’s probably going to be the most high-end building the city has ever seen.”
Start at $1 Million
According to a Concord press release, the prices will effectively start at $1 million. The penthouses will fetch close to $13 million. There will be a “limited selection” of two-bedroom condominiums prices starting at only $700,000. The current average price of a Calgary condominium is $341,000, according to the Calgary Real Estate Board
City of Calgary Endorsement
The infrastructure, created by Associated Engineering has been designed to be Canada’s top flood and emergency-prepared residential development. It is said to include a perimeter system engineered to withstand an episode twice as significant as the 2013 flood;
Deputy Mayor, Druh Farrell has said, “The Concord’s location next the Bow River overlooking the Peace Bridge is one of the most beautiful in Calgary and the Arthur Erickson-inspired design will add a global flavor to our downtown.”
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