GROSVENOR AMERICAS UNVEILS NEW BELTLINE RESIDENTIAL PROJECT TO CALGARY THIS FALL

135 studio homes and town homes priced from CDN$159,900 

Calgary, AB – (October 5, 2010) – This fall, Grosvenor Americas’ latest residential development in North America, Drake, will become the only high-rise project to launch in Calgary’s most dynamic neighbourhood just off 17th Avenue. Drake comes into this market at the same time the Real Estate Investment Network (REIN) has singled out Calgary as Canada’s top investment market.

Grosvenor Americas is launching this project with location, design and quality top-of-mind – and value too, with suites priced as low as CDN$159,900. The city’s newest residential tower will introduce 135 new homes to the 17th Ave. and Beltline neighbourhood with the opening of the project’s sale centre anticipated to be Saturday, October 16, 2010.

“With Drake, we really feel we’re ahead of the curve. As the economy has stabilized and construction costs have reset, we are leveraging this and moving forward with the development of a high quality property that’s priced to sell,” says James Patillo, senior vice president and general manager of Grosvenor Americas – Vancouver and Calgary. “At only CDN$159,900, we’re offering well designed boutique homes in the best location for urban living in Calgary. That’s a deal people will take notice of.”

Located on the corner of 7th Street and 15th Ave. SW, Drake will be centrally situated in the trendy 17th Avenue and Beltline neighbourhood within walking distance of many boutiques and restaurants, including 1410, Uno, Caffé Beano, Melrose Café and Bar and The Ship and Anchor Pub.

Drake’s design is smart and green. Designed to LEED standards, the building sports some of the latest eco-friendly technologies, including water smart plumbing and building envelope systems. In addition, Grosvenor Americas intends to pursue LEED Certification (a rarity for for-sale condominiums in Canada). It incorporates over-height ceilings and clever floor plans that maximize space. All homes are equipped with luxury features like a European-style ceramic backsplash, composite stone countertops, engineered wood flooring and stainless steel appliances. Homes at Drake will range from 398 square foot studio homes to town homes averaging 1200 square feet.

The development of Drake marks Grosvenor Americas’ 10th year of activity in Calgary’s real estate market. Grosvenor dates back more than 300 years and has an impressive track record with developments in the world’s most dynamic cities.

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