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October 13, 2005

Expresso

Retrofitting provides affordable condos in mature communities

Nicole Bross

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Buying a condo close to downtown can be a costly proposition – many inner city condos cost more than a two-storey house in the suburbs, so for first-time buyers or those on a limited budget, living in or around the core is often not an option. Vista Group, a local development company, has made providing affordable luxury condos their objective, in Beltline communities such as Lower Mount Royal, Mission, Bankview, and for one of their most recent projects, Expresso, trendy Crescent Heights. Vista Group’s strategy is to buy former apartment buildings and renovate them, creating modern, stylish homes in some of Calgary’s oldest neighbourhoods.

“Our focus is retrofitting,” says Vista Group’s vice-president of sales, John Stanko. “The advantage is cost. New construction costs substantially higher. Expresso is completely refurbished. It has a three-year-old roof, new windows, decks and railings, as well as a repaved parking lot.”

And that’s just what’s new on the exterior of the unimposing building, a blocky, stucco-finished complex at the corner of 5th Ave. NE and Edmonton Trail, with an incredible view of downtown. Inside, the lobby has been redone with grey ceramic tile, bleached wood accents and a waterfall statue, leaving no doubt upon entrance th­at these are contemporary condos. The Expresso show suites demonstrate the main advantage of refurbished buildings: size. With a large living room, two bedrooms, one and a half bathrooms and a large balcony, the units feel open and spacious. Space is used efficiently to maximize the amount of available room: above the gas fireplace is a recess which will accommodate a large flat-screen TV, while on either side there are built-in shelves for books and movies, and the space above the fridge is used as a wine rack. Some units also offer a semi-enclosed den with a built-in desk.

The Expresso development is atypical in that it does not offer any fixture or décor upgrades – all features come standard, including hardwood flooring and cabinets in several shades, granite tile countertops in the kitchen, rounded drywall corners, a soaker tub, fireplace and six appliances. Stanko believes this “what you see is what you get” approach to home-building is another reason why the units are so appealing to buyers.

“It’s a truer reflection of what you get,” he says. “Upgrades cost more. This gives the buyer a true sense of what the look and cost would be.” The fact that Expresso is not a newly constructed building allows Vista Group to offer top quality fixtures and still keep the units affordable. Buyers also have the advantage of quick possessions, since the only steps to take after their purchase are interior design ones.

The development has several different floor plans, ranging from studios to two-bedroom units, with prices from $99,900 to the low $200s. Several different kitchen and living room layouts are available as well. There are currently five units left, all of them about 800 square feet with two bedrooms. Condo fees are approximately $245 per month, and include all utilities except electricity, as wells as landscaping, maintenance and future repairs.

Stanko says that Expresso appeals mainly to young professionals, especially those who work downtown. Crescent Heights is so easily within walking or biking distance from the core, shopping, recreation and entertainment, and transit is so convenient that residents hardly even need a car, although if they do have one, underground parking is provided free of charge. 16th Ave. N is equally close, as is Prince’s Island Park and the legendary Diner Deluxe.

Expresso has been so successful for Vista Group that they recently opened a newly renovated development, Treo, just half a block down the street.  

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