In a city with a glut of condominium inventory, an Edmonton developer is wagering there is a gap in the hyper-luxury end of the market as it begins construction on condos as expensive as $9.5 million.
Developer Autograph is building a new complex that will tower over the North Saskatchewan River valley between High Street and Old Glenora, featuring 18 units across 12 floors with prices starting from $2.73 million.
The smallest suite sports 1,730 square feet but, on the priciest units, the space bulges past the size of a large house at 4,500 square feet.
That roominess is seen in the sprawling penthouse, which comes with all the amenities you'd expect in a home, like a full kitchen, laundry room and a living room. But it stacks on luxurious additions like a bar, library, butler pantry, media room, along with a balcony and a terrace.
“These aren’t your typical condos,” said Autograph president Henry Edgar. “I like to think of it as a series of stacked luxury homes within one building.”
The tower’s location sets it up with uninterrupted views of the river valley and Victoria Golf Course. It also includes a shared fitness space, a “gallery-inspired” indoor lobby, dedicated concierge service, a resident lounge and dining area. Owners get access to a private guest suite for visitors, a secure bike room, and a landscaped courtyard with an outdoor kitchen and fire tables.
Edgar said the project’s penthouse suite was sold for the highest recorded condo sale in Alberta history. About 75 percent of the building is also already sold, with just six units left.
“This demographic wasn’t being served. There are a lot of people looking for the convenience of a lock-and-leave scenario, but they don’t want to compromise the things they’re used to in their home,” Edgar said. “We felt that this was the right time for Edmonton, the right time to offer this.”
While the city has grown by around 200,000 people in just five years, with many newcomers being inter-provincial refugees from expensive markets like Toronto and Vancouver, Edgar said all sales for The Clifton so far have been to locals.
He said it’s a wide spectrum ranging from people in their mid-40s, older folks with grandchildren, but also a lot of empty nesters, and people whose kids have just left for university. There are no celebrity athletes in the building, Edgar said, but he wouldn’t be surprised if that changed.
Edgar said the project has been several years in the making, between planning, design, and looking for the right place to build. The Clifton’s total project cost is around $80 million, set to be completed by March 2028, just over a decade after Autograph started plans.
