Sad stat spurs condo marketing in Calgary

March 26, 2019

Matrix condo marketing manager Zee Zabian in Calgary.

The rather sad fact that in this age of super connectivity more Canadians are living alone than at any time in history has spurred a marketing concept at a new condo development in Calgary—and the idea may catch on.
According to new Statistics Canada data, the number of adults aged 35-64 living alone has more than doubled to nearly 15 per cent of the population since 1981. This is larger than the group composed of couples with kids or couples living alone. In major cities, solo living rates are even higher.
Where once it was mostly widowed seniors—usually women—who lived by themselves, solo living now represents a broad swath of the adult population. This, of course, has an impact on housing costs since singles have to come up with a down payment and mortgage payments on a single income.
Cue the Matrix, a new five-storey condo project in Calgary primarily targeted at young, first-time, single homebuyers.
The Matrix, by developer Mission 19 Ltd. and Gravity Architecture, is offering buyers a no-money-down financing package. A 5 per cent down payment is required, but buyers can spread out payments for over 24 months. To protect buyers from mortgage rate increases, the Matrix is extending 24- and 36-month interest rate holds to all buyers. Interest-only mortgages are also available—offering 37 per cent reductions in monthly mortgage payments.
The Matrix will have 67 units at build-out. Twelve of the units are listed at less than $299,990. Its top floor suites are designed to have a penthouse feel and are priced at $471,350, according to marketing manager Zee Zebian.