Calgary area: Avenue West End

When Mohammed decided he wanted to invest in a condominium, he looked for a great location in an amenity-rich area downtown and was pleased to discover Avenue situated in the well-established West End neighbourhood.

“I had looked at some places, very casually. Some newly built, some still in planning phases,” he says. “But, Avenue certainly stood out as a promising investment.

“The location was central to my decision to purchase this property,” he adds. “A good location is always an indication for a good investment; it will always be a deciding factor. This location is prime for expansion in Calgary’s growing economy.”

Avenue is a fabulous twin tower development being built at 5th Avenue and 10th Street S.W. by well-established developers Grosvenor Americas and Cressey Development Corporation. It has attracted a number of investors looking to take advantage of the opportunity to build equity on properties that will hold value.

Mohammed purchased a 960-sq.-ft. two-bedroom, two-bathroom suite for him and his family. His current plan for the suite is to rent it out with the long-term goal of “possibly save it for when my son grows up and would like to be living in a more central location.”

Avenue West End is 77 per cent sold and those purchasing “are mainly end users who are not only looking to live in an amenity-rich, high quality development, they are looking to invest for the future,” says Robert Duteau, senior vice-president development, Grosvenor Americas. “They see Avenue as being located by the Bow River in a growing West End neighbourhood and see the parallels with other popular high-end waterfront neighbourhoods in other cities such as False Creek in Vancouver.

“Avenue combines urban convenience with serene residential living. It offers a very walkable location just steps to the downtown, the Bow River pathway and trendy Kensington, as well, the C-Train is two blocks away and access to the Plus15 is within a short walking distance,” Duteau says.

“It’s a buyers’ market out there right now, and people recognize that now is the opportunity to buy in Calgary because they can get a really good deal, and furthermore we’re seeing the lowest mortgage rates, which makes the cost of owning about the same as renting.

“We have some investors, but several of our purchasers are first-time buyers, many parents who are helping their children purchase and those ready to downsize,” he adds. “Purchasers of Avenue vary in age and profession, however, a common theme is that the majority of them want to live in the building and enjoy the lifestyle that comes with Avenue.

“For buyers like Mohammed, living downtown is a lifestyle choice, they do not want to be spending all day in the car commuting and for downsizers they’re looking for a lock and leave lifestyle with a close proximity to amenities, however, wish for a quieter residential feel.”

Avenue is comprised of 316 suites within two towers, which include a mix of townhomes, flats, tower suites and a two level penthouse suite.

The high-end buildings will feature extensive use of glass on the exterior and exceptional finishings such as engineered hardwood wide-plank flooring, over-height ceilings, porcelain tile, marble countertops, impressive terraces and the CresseyKitchen – a revolutionary walk-through design that creates a larger kitchen by offering a highly efficient workspace that is stylish yet functional.

Avenue also offers terrific amenities – a fitness facility, owners lounge, on-site concierge, dog-washing station and secured parking and storage lockers.

Suites range from approximately 600 to 2,300 sq. ft.

For more information on Avenue, visit the Presentation Centre and display suites at 1037 5th Ave. S.W., open Monday to Wednesday, noon to 6 p.m., and weekends noon to 5 p.m., call 403.530.8455 or visit avenuewestend.com