$8.99 Million Sale at THE RIVER Breaks City Records... Again

CALGARY, May 24, 2012 /PRNewswire/ --

Penthouse sale in the city's premier luxury residential development confirms Calgary's interest in prime real estate

- With photo

THE RIVER, Calgary's luxury residential development, has broken its own, as well as the city's, highest condo real estate sales record to date. The 5,626 square foot penthouse (with 2,950 square feet in additional outdoor space) sold for $8.99 million CAD, exceeding the development's previous record-breaking $8.3 million CAD sale.

     (Photo: http://photos.prnewswire.com/prnh/20120524/533472 )

Situated on one of Calgary's most exclusive and sought-after riverfront properties, THE RIVER is truly one-of-a-kind and defines the new concept of luxury estate condominiums in the city. The new development offers the metropolitan lifestyle and amenities luxury buyers are seeking in the city they love. With the development offering only 38 residences for purchase, THE RIVER offers luxury estate condominiums and Riverhomes ranging from 1,400 square feet to 5,626 square feet in a price range from $1.2 to $8.99 million CAD.

"THE RIVER not only offers its owners an unsurpassable location but also redefines condo living in Calgary," said Chief Operating Officer, Chris Bourassa, 26^th Avenue River Investments Inc. "The development presents living spaces that do not compromise quality or size, and offers a premium lifestyle not yet seen in the city."

Developed by 26^th Avenue River Investments Inc., an affiliate of Ledcor Properties Inc., the luxury riverfront property not only positions Calgary on the national real estate stage, but has also achieved its mission of setting a new benchmark for quality that will contribute to the legacy of the city. The innovative design and construction of the building offers owners who are ready to embark on an exciting new chapter in their lives the convenience and comfort of a secure lock-and-go residence that maintains their standard of elegant living.

Projected to start construction in late 2012, THE RIVER will offer 38 residences including 11 Riverhomes and 27 units in a 15-storey tower, many of which have already sold. The Towerhomes range from 1,400 square feet to 5,626 square feet and the three-storey Riverhomes range from 2,700 to 3,800 square feet. Amenities include full-time concierge/security, private gym, yoga studio, massage room, gourmet chef's kitchen, executive boardroom, guest suite, car wash/pet grooming facilities and spacious outdoor living areas.

Previews are by appointment only. Please contact Anne Clarke at anne@therivercalgary.com, or by telephone at +1-403-263-5133.

ABOUT THE RIVER:

THE RIVER is redefining luxury living on one of the last remaining waterfront properties in Calgary, Alberta, Canada. Presenting a new concept known as luxury estate condominiums, THE RIVER offers only 38 units of estate living with the convenience of a lock-and-go lifestyle. Construction is slated for late 2012. http://therivercalgary.com/.

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SOURCE THE RIVER