Affordability is key, says developer

(Source: Calgary Herald)

Reduced prices have spurred condo sales in the city.

Just over a month since the developer of a downtown highrise residential project announced aggressive price reductions to try to attract buyers for new condo units, sales have picked up — as they have throughout Calgary in both the resale and new home market.

Melanie Briggs, sales manager for the Waterfront project, told the Herald that 40 units have sold since the announcement. Sale prices have ranged from $249,900 to $1.5 million.

The project is located along the Bow River in the Eau Claire district just east of the market.

In early June, Anthem Properties, which is developing the project, re-priced more than 100 units in its first two phases.

“For us to sell 40 suites in 40 days and the type of traffic we’ve had in the sales centre has been incredible. We definitely accomplished what we set out to do,” said Briggs.

Read Mario Toneguzzi’s full article “Slashed prices spur Calgary condo sales” in the Calgary Herald (August 12, 2009).

Check out the project, and surrounding projects, at BuzzBuzzHome here.

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