Sales are launching today for one of the most unique residential condo projects Calgary has ever seen.
The N3 development in East Village is designed with Generation Y in mind with parking for bicycles and ‘microcars’ only.
Knightsbridge Homes, which is developing the concept, said the project vision also includes social open spaces for entertaining and hosting, Wi-Fi connectivity throughout and fully-furnished IKEA units. Also, to support the marketing platform of – No car, No parking, No problem – each buyer will receive a $500 credit to Car2Go and an urban bicycle.
It will be located near the historic St. Louis Hotel along 8th Avenue S.E. at 4th Street and consist of 300 condo units averaging about $225,000. Occupancy is expected by the summer of 2017.
Joe Starkman, president of Knightsbridge Homes, said the price point, as well as the unique development concept, is tailored to attract buyers in the 20-to-35-year-old demographic.
The N3 development, which stands for New Attitude, New Living, New Vision, held an official launch of the project on Friday. It is being co-developed with Metropia.
“We were fortunate we had a pretty strong seniors population. What we needed to make sure is that we had a difference in incomes as well as different (residences) . . As a community, people are recognizing the strength in East Village and what we really have going for us. It is a different space.”
N3 will be located near the LRT line. Knightsbridge also owns a parcel of land on the other side of the St. Louis which could be another future condo development.
“We had a sensational location. The East Village redevelopment by CMLC is like second to none. I’ve travelled all over the world. This is one of the most incredible undertakings being done anywhere. To the community itself, that was a cornerstone,” said Andrew Brethour, president of PMA Brethour Realty Group which is handling sales and marketing for the condo.
Knightsbridge is planning to develop a pedestrian area on either side of the St. Louis Hotel, where CMLC expects retail and commercial use will be developed for that building.
Knightsbridge has developed a mixed-used, four-tower University City project of 705 condo units in the northwest community of Brentwood. Only 24 units remain unsold there.
CMLC says East Village will be home to more than 11,000 residents upon completion in 2027. It will also be home to the new Central Library, the National Music Centres, an urban shopping centre, and two hotels.