The Princeton Condominiums - Overview Sep 2020 YTD
The Princeton condominium Phase One (circa 2002) is comprised of two low-rise and one high-rise condominium complex referred to as the Hall, Cityscape and the Waterfront. Phase Two (circa 2007) includes a low-rise and a high rise tower referred to as the Grand. The Hall and Grand offer concierge services, and some additional amenities such as a fitness facility, car wash, wine storage and tasting room, a social room, a Board room and private guest quarters. All the buildings have underground secure parking. The complex is comprised of several condominium corporations.Sales Overview - For the period Jan – Sep 2020 YTD, these are the Real Estate numbers:
- Three units have sold
- Two 2-story townhouse units: $416K ($305/ft2) for a one bedroom suite and $395K ($264/ft2) for a two bedroom suite
- One two-bedroom one level unit: $1.35MM ($606/ft2)
- There are nine units actively listed for sale
- Three units in the Princeton Hall, four in the Princeton Grand, and two in the low rise buildings, Cityscape & Waterfront
- The asking prices range from $350K to $3.2MM
Rental Overview - There is an active leasing market at the Princeton as its location is close to Prince's Island park and the River pathway system, Calgary’s business district plus numerous restaurants and amenities. Our extensive experience sees current rental rates ranging between $2.00 to $2.75 / ft2 for unfurnished and furnished units for long term of one year or longer tenancies. Rates are influenced by inclusions such as housekeeping, utilities/electricity, number of parking stalls and the tenancy term, the floor level of the unit, the direction of the unit and other factors. Demand in today’s market is trending mostly toward unfurnished properties, and as such the rental premium for furnished accommodation is marginal.
