Edmonton ICES condo sales
March 21, 2018
Edmonton condominium sales have doubled in the past year and analysts say it is all due to the skyrocketing popularity of the new downtown entertainment zone known as the ICE district.
ICE is home to the new Rogers Place sport stadium, a new JW Marriott hotel and hundreds of new condos.
Sales of new condos and townhouses rose to 766 in the last three months of 2017 from 323 in the same period of 2016, according to research firm Urban Analytics.
Much of that surge was fuelled by the 242 condos sold in the Sky Residences being built on the upper half of the 66-storey Stantec Tower in the ICE district. The condos began marketing at the end of October 2017.
The units, ranging in price from about $300,000 to more than $1 million, are expected to be ready in October 2019.
There were more than 30 other multi-family home projects launched in Edmonton last year.
Downtown had a total of 319 sales in the last quarter of 2017, almost tripling from the last quarter of 2016 and making it the busiest sector of the city.
Many of the ICE district condo buyers were investors from Vancouver and Toronto, according to Urban Analytics.