Jason Pitre of MRE Group of Charlottetown has announced a significant investment in Parkdale, a new condominium development that will see an investment of approximately $16 million.
The proposed development, called Parkdale Place, is to be built on Gower Street, with access to St. Peter's Road.
Pitra says while the condo market in Charlottetown has been growing over the past five years, he has noticed there is a section of the market that is not being catered to — condos that are spacious with higher end finishes, yet still affordable.
"Not everyone can afford to spend $500,000 on a condo so we have been hearing over and over that the public is looking for something more mid range and affordable.”
The condo development will feature a number of suite styles in the $200,000 to $260,000 range with features such as underground parking, air conditioning, a gym and common area, private decks, granite counter tops, en suites with in-floor heat and appliance packages.
All condo units in the building have two bedrooms and two full bathrooms and prices are fully inclusive of all amenities including HST.
MRE Group has partnered with Century 21 Colonial Realty to sell the condo's.
“Our office and agents have extensive experience in the condo market here in Charlottetown and we feel that these condos have great appeal to many residents of P.E.I. that wish to own their living space while they also enjoy the smart condo lifestyle,” says Century 21 owner Joel Ives.
The average ‘days on market’ for condos in Charlottetown is high, at 296 days, but Pitre believes that these prices and details will appeal to a large segment of the population here.
There have been over 100 condo units sold in a variety of developments around Charlottetown over the past few years, so the 'condo lifestyle' while new to P.E.I. is certainly catching on, said Pitre.
Century 21 will begin pre-sales of the condos this month, and construction is scheduled to begin in 2013 with occupancy ready for 2014. For more information visit www.ParkdalePlacePEI.com.