Another HUGE step for luxury condo sales and culture in Calgary.
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Via: The Calgary Herald
The River, Calgary’s luxury residential development, has sold another one of its multi-million-dollar penthouse suites.
The most recent sale is for $7.59 million for a 5,260-square-foot unit.
It is the third penthouse suite sold at the development in Mission with one more penthouse suite still available.
Other sales have been for $8.99 million and $8.3 million. The final penthouse unit is for sale at $7.9 million.
On Tuesday at a groundbreaking ceremony, The River announced it was partnering with the local arts community to create opportunities for youth in the neighbourhood.
The partnership is between the developer, 26th Avenue River Investment Inc., an affiliate of Ledcor Properties Inc., and Antyx Community Arts.
The official sod-turning, at the site along the Elbow River at 135 26th Ave. S.W., marks the next phase of development for the project.
Chris Bourassa, chief operating officer of 26th Avenue River Investment Inc., said the groundbreaking highlights the start of construction “on what will become Calgary’s most recognizable landmark.”
He said the number of buyers has allowed the developer to “move from a vision to reality.”
The development will include 37 residences, 11 Riverhomes and 26 suites in a 15-storey tower. Construction is expected to be complete by spring 2015.
In the first phase of the development, the project has sold 17 of 26 suites in the tower.
In collaboration with Antyx Community Arts, The River will launch a four-phase program that creates opportunities for youth to become more engaged in their community and experience increased community connection. Phase One, entitled “Fall”, presents the work of students from two Mission area high schools, St. Mary’s and Western Canada High School.
“We’re pleased to be partnering with The River and The Ledcor Group of Companies as they move forward with the next phase of development,” said Amber Alexander, community engagement co-ordinator of Antyx. “The River has provided us with a unique opportunity to support the artistic endeavours of local youth and to celebrate the beauty of the neighbourhood as captured by young artists.”
Prices in The River range from $1.2 million to $8.99 million.
A cornerstone for the project was also unveilved on Tuesday. It is a quote from Ralph Waldo Emerson and reads: “Do not go where the path may lead, go instead where there is no path and leave a trail.”
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