This is custom garage space that you own located on common property. At closing you will receive full

legal title which includes rights to use the common areas like owner’s clubhouse. Resale works the same

as any property sale and you can even hire a realtor.

Inside the building you may divide or finish any way you choose. You can do almost anything you like

with it on the inside but some items may need a local building permit. Building a washroom (we already

did rough-in) or mezzanine are the most popular. Altering the exterior of your unit is controlled by the

condo board to keep appearances consistent.

Building A has doors which are 14 ft by 14 ft. Building B has two doors in each unit 14ft wide by 10 ft

high doors.

Every unit has a walk-in door.

Phase 1 (already built) has units in four sizes from 800 sq ft to 1575 sq ft, with the ability to combine

spaces and create much large open areas. Phase 2 sizes will reflect customer demand.

The entrance drive aisle is 44.4 ft wide but interior aisles vary up to 50 ft wide. You have plenty of room

to maneuver.

All units are roughed in for washroom/showers. Also there are floor drains. The Clubhouse has two

washrooms and one shower. There is another washroom in Building B.

Each unit has its own gas and electric meters so you can have your own account.

As with any condo you are responsible for the property taxes on your own unit. The condo corporation

pays taxes on the clubhouse and common areas.

These fees are set by the condo board (owners like you) and they cover insurance, lighting, grounds

maintenance, clubhouse cleaning, snow removal, etc.

Condo fees vary by which unit size you choose. However, we expect an average to be approximately

$157 per unit. The draft condo budget is based on 21 units. It is attached below for easy reference.

Phase 2 will more than double the units (say 45) so per unit costs should drop because the fixed costs

(like security and clubhouse) are spread over more owners. The budget was developed after seeking

input from other garage condo developers with clubs in operation for a few years. It was reviewed by a

reputable Condominium management company in Edmonton.

In recent years industrial and commercial condo bays have increased substantially in value. We are

expecting resale will be pretty high on these units as they are very limited quantity however past

experience is no guarantee of future prices.

The developer is selling the units but there may be some buyers who invest in condos to rent. Renting

is permitted. If you contact us we can pass on any possibilities. Rental is required to be for a six-month

minimum.

Dominion Lending has briefed lenders on the Premier Garage Condo project. Four lenders are ready

to go. Some are offering up to 25 year amortization. Indicative mortgages: on a $195,700 unit, the

approximate mortgage would be about $721 a month. This is with 25% down; 25 years amortization and

about 3.39% interest.

Yes, as many as you would like. However, voting rights are per unit, not per shared owner. If there are 3

owners purchasing a unit they must agree and then cast a single vote.

You have 24/7 hours of access to your unit. The clubhouse has seven day access.

This is a gated facility so only owners and their guests will have access. It has high quality fencing and

building walls are made of commercial grade steel. There are extensive surveillance cameras mounted

throughout as well as alarms. The approaches and driveways have security lighting. Each bay can

also be monitored with alarms and camera if you chose. We have an agreement with the self storage

business next door, with resident caretakers, to monitor the site and do a daily walk around.

This area is not zoned for residential accommodation.

Absolutely, this is one of the reasons we built them.

The Clubhouse is for your use. It can be booked for a private party or if you want to host a meeting

of some club or organization you belong to. It has a lounge, big screen TV viewing area, bar, kitchen,

conference/game room and restrooms with shower. It has seating for about 40 people. Private use

carries fees for cost recovery and clean-up.

The site and all buildings are insured by the condo corporation. Like all condos your contents and

custom improvements are for you to insure.

Absolutely you are free to resell or to leave it in your will.

There is a full disclosure binder which can be reviewed at any time. Every buyer should review this set of

documents and we can meet you to outline them.

Premier Garage CondosFAQ’s