Well Prince George…. the people have spoken! Downtown residential units are finally going to be built, and not for seniors(not that there is anything wrong with seniors)! InVestgo Ventures Ltd is finally going to make it happen with their new Condo development on 7th Ave. near downtown. “The Elms….The time has come for Luxury Downtown Living in Prince George”
Like many other communities with rundown downtown business areas in need of a jump start, it starts with bringing the artists, the innovators, the socialites, the hipsters, the yuppies, college graduates, and the DINKS(Double Income No Kids) into the downtown area.
By increasing the amount of residents that are considered valuable and contributing citizens, you will inevitably improve the economic viability and profitability of current businesses downtown, and thus attract more businesses to consider downtown as a viable option, which will also increase the value of land and real estate in the areas currently surrounding the area.
Sounds logical doesn’t it?
Before I continue….
I’ve got a joke for you……
What is 1,168 sq. ft, 1 bedroom, 1 den, 2 bathrooms and will cost you $416,704 (after HST and not including Property Purchase Taxes)????
Drum roll………. A 1 Bedroom+Den unit in the Elms on 7th! Badda boom!
That’s right, if you and perhaps your significant other would like to purchase one of these entry level units you should be prepared to shell out BIG BUCKS.
Lets put this into perspective.
You can have a 1br+den in downtown Prince George or a “one of a kind (& one owner) architecurally designed home(3000 sq ft, 4BR, 3Bath) has the “million dollar view” of the Fraser River” or perhaps a “Brand new home(5 acres, 3 bedroom, 2 bathroom) in Pineview built by Northern Traditional Homes Inc. Awesome open layout with vaulted ceilings in kitchen & living room.”
If 1br+1den is just not enough space for you, maybe the “Deluxe Penthouse Suites include 11 ft ceilings over living room and dining room with two (2) balconies in each suite. Deluxe Penthouse Suites are 2,485 sq ft and 2,476 sq ft plus two and one half bathrooms” is more to your liking. If so, be prepared to dig DEEP. For a mere pittance of $733,075 +HST=$821,044, you can live in mere spitting distance of the prestigious downtown Prince George. Oh wait, did I say prestigious? That’s not quite the word I was looking for. What’s a word for neglected, run down, and lacking in heart lifting beauty?
In case anyone is curious what kind of moolah you would have to be pulling in to get yourself into this new development, I did the dirty work for you. Assuming a minimum 5% downpayment, spotless credit, and zero debt, “For the lower amount of $416k purchase price you’d need approximately $84k per yr gross income and for $820k approximately $150k per year gross income would be required” according to Pauline Mountain TD Canada Trust mortgage broker extraordinaire(and trust me, she works miracles, if she can’t get you approved, nobody can!)
For what it would cost you to buy this undoubtedly luxurious penthouse condominium you could purchase BOTH of the homes previously mentioned, or perhaps you’d consider a “13 unit apartment in Highglen Sub grossing $77,700 annually. 10 – two bedroom units. 2 – one bedroom units. 1 bachelor unit.” and save about $60,000 for the purchase of a new boat or whatever you please.
When I found out how much these “luxury condos” were listed for, I literally burst out laughing. If theoretically I had that kind of cake kicking around, is it not more likely that I would want to live in a “6th floor, near waterfront unit on Sunset Drive, steps from the lake” in Kelowna? and for the cost of a penthouse, look at something near downtown Vancouver? Wait, did I just draw a comparison between real estate prices in Kelowna and Vancouver to Prince George?
I think it’s comical to believe that we can go from the little we have agailable in and around our downtown(for the regular folk), to pure luxury? In speaking to a contractor who is bidding on “The Elms” job, they referred to the mechanical/boiler room in this condo as the “Cadillac” of its kind. I can’t help but think, wouldn’t it be nice for a few Honda’s, Fords, and maybe even a Toyota of Condo’s before we step into the Cadillacs?
I applaud InVestgo’s enthusiasm for quality and luxury, but I’d equally appreciate a dose of reality to come with it.

Want to live near downtown? Check out the 2BR+2Bath in this building for half of what you'd pay at "The Elms"
As much as I think we need spaces to live downtown, I don’t think that Prince George is ready for Luxury. The truth of the matter is, we need to make spaces for the people who would either want to, or would at least consider our downtown area as a suitable place to reside. The sad thing is that the majority of these brave souls are not the lawyers, branch managers, doctors, stock brokers, mill owners, or others that might be pulling in $84-$150k per year. We need the legal assistants, restaurant staff, clerks, junior accountants, retail managers, construction workers, and other members of the middle class employed to lead the way into downtown. People who aren’t worried about the questionable safety of downtown, and people who will drink coffee at the coffee shops, shop the boutiques, drink beers at the Genny, see comedy at Nancy’s, read books at Books and Co., and perhaps grab a bite at Cimo’s to become residents of our downtown.
And, in most cases….. Guess what? these people aren’t driving Cadillacs!















