(Source: Calgary Herald)

Two years ago, when 40 luxury condominiums being constructed in the heart of downtown went for sale in the Le Germain Calgary mixed-use development, they were scooped up in one day.

Prices ranged from $840,000 to $3.5 million for the units, across the street from the Calgary Tower.

It was a testament to the booming economy.

Fast forward to today and the economy has changed drastically, hitting Calgary hard.

But Le Germain is marching forward with construction at 9th Avenue and Centre Street S.W.

“Everything is going to be ready. We really are on target,” Christiane Germain, co-president of the Quebec-based Groupe Germain, said Tuesday while visiting Calgary.

Read Mario Toneguzzi’s full article “Novel downtown development unbowed in face of recession” in the Calgary Herald (July 21, 2009).

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