The Benefits of Choosing a Downtown Edmonton Condo Featured Image

Are you looking for a trendy, low-maintenance home with unlimited access to Edmonton’s best amenities? An apartment-style condo in Edmonton’s vibrant Downtown core may be exactly what you’re looking for. From converted warehouse lofts and mid-level apartments to high-rise luxury penthouses, central Edmonton has something to offer everyone. 

Here are just a few of the many perks that come with living in a Downtown Edmonton condo:

Downtown Living Defined 

Downtown (condos) are the perfect choice for working professionals, first-time buyers, or any buyer searching for a low-maintenance home near it all. Offering convenient access to Edmonton’s central business district as well asa diverse array of amenities (including arts and cultural venues, shops, services, restaurants, green spaces and more), Downtown Edmonton has it all.

The Downtown core is comprised of seven major districts. These include:

Jasper Avenue: Edmonton’s original “Main Street”, Jasper Ave remains one of the most popular districts in the capital region. Jasper Ave runs from 125th Street (Westmount community) to 77th Street (Cromdale community) and is known for its countless boutique retailers, eateries, and vibrant nightlife. 

The Government/Capital District: The government district is located in southwest Downtown Edmonton. The community includes the scenic Alberta Legislature Grounds - boasting beautiful parks, walking paths, fountains and annual events.

Warehouse District: Located between Jasper Ave and 104th Ave (103rd to 109th Street), the Warehouse District was a prominent business area in the early 1900s. As such, the neighbourhood remains home to many repurposed warehouses that include businesses, designer shops and one-of-a-kind warehouse lofts. 

The Commercial-Cultural Core: Edmonton’s Commercial/Cultural Core is home to the Art Gallery of Alberta, Citadel Theatre, Royal Alberta Museum, Winspear Centre, and more. Located in eastern Downtown, the district also encompasses the famed Churchill Square – one of the city’s most celebrated festival venues. 

Rice Howard Way: Rice Howard Way encompasses 101A Ave (between 100th and 101st Street) and 100A Street (between Jasper Ave and 102 Ave). Considered one of the most walkable neighbourhoods in Edmonton, the area consists of an open-air pedestrian pedway, high-rise offices (including Scotia Place) and a few above-business condos. 

McKay Avenue: The McKay Avenue District has the highest residential density in Downtown. Located along the area’s southern edge, the district is extremely pedestrian/cyclist friendly. It also offers access to Jasper Ave and the Alberta Legislature Grounds while providing exceptional views of the North Saskatchewan River Valley. 

The Ice District and Rogers Place: Central Edmonton’s newest district, the Ice District, is Canada’s largest mixed-use entertainment district. In addition to Rogers Place (home of the Edmonton Oilers), the neighbourhood also encompasses office towers, high-rise residential condos, a casino and more. 

Search Real Estate Listings in Downtown Edmonton

Condos For Every Lifestyle 

As mentioned above, Downtown Edmonton condos come in all shapes and sizes. So, whether you’re a first-time buyer hunting for an affordable one-bedroom unit or a discerning luxury buyer searching for a prestigious high-end penthouse, city centre has it all.  

Luxury Penthouses – Traditionally, penthouses are defined as top-floor luxury condos. However, a penthouse may also be considered any luxury condo that differs from other units in the building in terms of style, size, design and finishes. Luxury penthouses include the very best when it comes to high-end features, such as exclusive panoramic views, entertainer’s floorplans, luxury suites and ensuites, chef’s kitchen, custom finishes and more. $840,000 is the average price for a luxury penthouse in Edmonton. 

See: 14 Benefits of Penthouse Living

Low-Rise, Medium and High-Rise Apartments – Low-rise apartment buildings have four floors or less. Conversely, mid-rise buildings consist of five to 10 floors and high-rises 10 floors and up. High-rise apartments typically offer stunning views, elevators and a heightened sense of security. At the same time, low(er) rise buildings may provide greater peace, affordability (depending) and amenity access. 

Loft Conversions – Loft conversions are industrial spaces that have been converted for residential use. They tend to offer a unique architectural aesthetic, higher ceilings and open, flexible floor plans. These are particularly common in Edmonton’s Warehouse District, with prices starting at an average of $250,000 for a one-bedroom, one-bathroom unit. 

Infill Townhomes – Slight less common in the Downtown area are infill townhomes. Multi-storey townhomes constructed post-2000 are the most common, offering three and two bedrooms. Models range from upscale luxury townhomes priced at $800,000 to renovated semi-detached units starting in the low 400s. 

The Benefits of Choosing a Downtown Edmonton Condo Museum Image

Edmonton’s Premier Arts, Entertainment and Shopping Venues 

Edmonton’s Downtown condos are perhaps most famous for their proximity to desirable Downtown amenities. As such, Downtown residents enjoy having everything they need within walking distance - including shops and services, restaurants, and entertainment venues.

A few of the many notable amenities drawing Edmonton buyers to the Downtown core include: 

Downtown also hosts some of Edmonton’s most beloved annual festivals, including:

See also: 21 Edmonton Festivals to Look Forward to This Summer (dates may vary)

The Benefits of Choosing a Downtown Edmonton Condo Park Image

Plenty of Parks and Green Spaces 

Those opting for a Downtown Edmonton condo benefit from Edmonton’s best parks and green spaces. The North Saskatchewan River Valley defines Central Edmonton to the south and boasts over 160 km of trails and pathways, perfect for cycling, running, walking and exploring. This vast trail network also interconnects 20 major Edmonton Parks and green spaces, including Government House Park, Victoria Park and ultra-popular William Hawrelak Park. 

Other notable recreational amenities Downtown Edmonton condo owners include: 

Onsite Amenities 

Many Downtown Edmonton condo developments offer residents-only access to onsite amenities, such as exclusive outdoor recreation spaces and fitness centres, swimming pools, saunas and more. Other onsite amenities may include: 

  • Heated underground parking (may consist of multiple stalls for penthouse owners)
  • Storage facilities
  • Rec rooms and social rooms
  • Guest suites
  • Community gardens
  • Theatre rooms
  • Bars and billiards
  • Professional management
  • Onsite caretaker
  • Libraries 
  • Rooftop patios 
  • Playgrounds
  • 24-Hour Concierge Service 
  • Etc.

Some developments may even go so far as to include childminding and pet-sitting services, spas and yoga studios, convenience stores, coffee shops and more!

The Benefits of Choosing a Downtown Edmonton Condo Low Maintenance Image

A Low-Maintenance Lifestyle

Another perk in opting for a Downtown Edmonton condo is the low-maintenance lifestyle they provide. As such, condo owners enjoy more free time and reduced costs regarding their home’s upkeep. 

Most condo developments are governed by a condo board which oversees your property’s outdoor maintenance in exchange for a monthly fee (aka a condo fee). In addition, the board will assume responsibility for maintaining any onsite amenities and common areas such as fitness centres, social spaces, parking areas, sidewalks and roofing. 

Fees will vary according to building size, age and current amenities but are generally well worth it compared to the maintenance cost. Did we mention units in newer developments may also come backed by a new home warranty?

Financial Sense 

Affordability is also why many Edmonton home buyers opt for a Downtown Condo. Compared to the average price of a single-family home in Edmonton (approximately $454,000), apartment-style condos are significantly cheaper, averaging roughly $250,000 for 1,200 square feet. 

Note: This average price does not reflect Edmonton luxury condo market prices.

In addition to affordable lower utility bills (heating, air conditioning and electricity, etc.), condos are also paired with lower mortgage payments and reduced down payments. In short, the more efficient living space condos typically provide can save you hundreds of dollars a year on your bills alone.

An Increased Sense of Security (and Privacy)

Downtown Condo developments feature security amenities that may include everything from secured underground parking and keyless entry to video surveillance.24/7 onsite security personnel may also be present, as well as in-suite security features such as (fire) sprinkler systems, intercoms and alarm systems. Proximity to neighbours is also a plus when it comes to a heightened sense of security. Should anything unusual arise, your neighbours are sure to take notice.

Excellent Resale Value 

Living in a Downtown Edmonton condo can also lead to some significant savings. By spending less on mortgage payments, utility bills and overall household maintenance, you’ll be able to focus on your greater financial goals, such as hobbies, travel, and future investments. Additionally, Downtown Edmonton real estate will always appreciate in value over time – allowing you to look forward to a healthy return on your investment. They also make ideal investment properties for Edmonton Real Estate investorsrea looking to capitalize on a lucrative property in a fantastic location. 

Check out: The 5 Key Benefits of Investing in Real Estate

The Benefits of Choosing a Downtown Edmonton Condo Image

Tips for Buying a Downtown Edmonton Condo:

Get Pre-Approved – Determine how much home you can afford before hitting the Edmonton market. Not only will a mortgage pre-approval ensure you’re taken seriously by condo sellers, but they’ll also save you time, money and stress (by helping you narrow your new home search). Don’t forget to partner with an experienced Edmonton mortgage broker who can help you find the right mortgage lender and the best rates.

See also: Mortgage Pre-Qualification vs. Pre-Approval: The Differences You Need to Know.

Determine Your Condo Wants and Needs – NEEDS are the items you can’t live without, such as the number of bedrooms and bathrooms and location (i.e., proximity to work and other important amenities). WANTS, on the other hand, are things you’d like to have but aren’t necessarily deal breakers (i.e. stone countertops or hardwood flooring). 

Work With an Expert Edmonton REALTOR® – Set yourself up for success by working with a real estate agent who understands the Downtown Edmonton real estate market. An experienced REALTOR® will not only help you find the right condo to meet your needs, but they’ll also ensure a seamless buying process.

See also: What to Look For When Choosing the Right REALTOR®

Understand the Strata – With your REALTOR®’s guidance, be sure to review any condo board/association documents, the property management company in charge and any fees, regulations and special assessments attributed to the development and your unit. This is essential for avoiding any unwelcome surprises down the road.

Working With the Right REALTOR® 

Working with an expert who understands the Downtown Edmonton market is critical when looking for the right condo.As one of Edmonton’s leading condo real estate teams, the Terry Paranych Real Estate Group has the skills, professionalism, and experience to guide you on your home-buying journey from start to finish:

  • Determining your wants and needs
  • Getting pre-approved for the right mortgage
  • Zeroing in on the right Downtown neighbourhood
  • Finding the right condo
  • Negotiating with condo sellers
  • Navigating paperwork and purchase details
  • And more!

See also: What to Look For When Choosing the Right REALTOR

Are you thinking about buying a home in Edmonton? Take advantage of our FREE resources, including: 

The Terry Paranych Group Home Buyer’s Guide – We’ll walk you through the Edmonton home buying process step by step.

Your All-In-One-Guide to Choosing the Right Edmonton Neighbourhood - Find your dream home in the perfect Edmonton community!

Edmonton’s Top Infill Communities – Beautiful homes, mature trees, streets and established amenities are just the start! Learn more about Edmonton’s many desirable infill communities with our free guide.

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