EDMONTON — If you’re in the market for a condominium in Edmonton, there are a few downtown that just hit the market. But buying one will set you back a few million dollars.
High atop the Pearl Tower, on the 34th and 35th floors to be exact, sit four penthouse suites. Each condo suite is listed at $3.5 million (plus GST), which is record-setting when it comes to condo prices in Edmonton. The previous most expensive condos ever sold in Edmonton on MLS went for well over $2 million.
“We wanted to do something that possibly could never ever be done again,” Raj Dhunna of Regency Developments said.
“We’ve tried to make sure every single detail was rare or unique to this project.”
The 3,000 square-foot units went on the market Wednesday. Three of the units are two stories. The fourth unit is on one floor and has a 1,400 square-foot outdoor patio.
So what makes them so unique? For starters, about half a million dollars was spent on kitchen finishings in each unit alone. The high-end appliances were specially imported from Europe, and the motorized cabinets close themselves.
The units come with customized walnut flooring and glass staircases. A built-in technology system lets homeowners access the building-entry system and elevators through their tablet.
“So you can swipe on your iPad to let somebody into the building and unlock the elevators,” Dhunna said.
Plus, from 35 stories up the view isn’t bad either.
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With the current state of the economy and housing market, some might question whether there will be buyers for the units.
“Our main focus will be staying local,” realtor Jakie Ng said. “Potential buyers probably will be retiring this year looking for a unique lifestyle close to downtown but doesn’t want to be right at the downtown core.”
“We’re cautiously optimistic. We’re still bullish,” Dhunna said. “There’s a lot of good wealth and quiet wealth and they understand the value of what they’re buying.
“I don’t think we’ll have any issues selling our units in the building.”
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The developer bought the land in 2008. There are 128 units in the tower, at an average price of $1 million. Dhunna said the building is about 90 per cent sold.