It’s a pricey milestone: a condo on the market with an asking price of $1.2 million.
With that sort of price tag, you would think it would be located in the Greater Toronto Area or B.C.’s Lower Mainland — but the property sits on 3 Avenue S. in downtown Lethbridge.
Courtney Atkinson is the realtor selling the 4200 sq. ft. property. He said there has been a surprising amount of interest despite the price point.
“There are a number of people in Lethbridge who could afford a property like this,” he said. “So it’s just a matter of communicating that and inspiring somebody to be in the downtown core in a property like this.”
Owner John Gerlock has lived in the condo with his wife for six years. When they first bought the building, there were 20 vacant offices in the place they now call their home.
“We took a look around, and my wife Wilma said, ‘I don’t see what you’re seeing.’ And I said, ‘Trust me. I know that I can turn this into a space that we can live in,’” Gerlock said.
After a few years of renovating, Gerlock transformed the old law office into a home above their business.
Despite this being the first million-dollar condo listing in the city, some in the local real estate industry believe it won’t have an impact on affordability.
“This is a luxury product,” said realtor Jason Shriner. “It’s a very specialized product in Lethbridge. We haven’t seen a lot of this type of development and this type of sale occur in Lethbridge.”
There have also been questions about its location directly across the street from Galt Gardens — an area that has seen drug use and property crimes.
A recent Lethbridge College study found about 65 per cent of residents feel unsafe downtown after hours.
But Gerlock said he’s never had any issues living in the Acadia building.
“If someone does buy it, I hope they enjoy it as much as we have,” he said, adding that he believes $1.2 million ask for a home is worth every penny.
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