Residences with a bird's eye view of river valley

Falcon One welcomes its first residents this summer, pivoting from condo to rental, with downtown living.

Article content

The Falcon has landed.

Downtown’s newest apartment rental tower, aimed at providing a higher end feel to the rental market, expects to welcome its first residents in August.

The 30-storey building with 234 units has been in the works for a number of years, with Langham Developments Ltd. breaking ground on the project in the latter half of 2021.

“What’s unique about this project is that it is really close to downtown and has amazing views,” said Reza Mostashari, who is not only the developer and president of Langham Developments but is also an engineer and the general contractor for Falcon One. As for those views, they include river valley backdrops as well as more urban ones highlighting downtown.

The building, on 104th Street, south of Jasper Avenue and just north of 100th Street, could be one of two Falcon towers on the site. Mostashari said a Falcon Two remains a possibility.

“I might build a second tower depending on how this (Falcon One) goes,” said Mostashari. “It would be identical.”

Advertisement 2

Article content

Higher End Rental

Within walking distance of the downtown core, and its adjacent ICE District, Falcon One is all about providing high end amenities with high end apartments.

The 234 units are being offered in one-, two- or three-bedroom configurations while some one- and two-bedroom units come with a den.

Finishes in all units are on the modern side, with the apartments available in two styles: a lighter, bright version that comes with cabinetry with hints of light grey and sage, while the darker version is a touch more masculine with brown being more prominent. Both are set against a bright white backdrop that makes the apartments feel larger. The four penthouses comes with their own different design touches.

Roughly one-third of the rentals are one-bedroom units and the remaining two-thirds are the two- or three-bedroom models. Unit sizes range from around 600 square feet to about 750 sq. ft. for a one-bedroom while most two-bedroom versions are 800 sq. ft. or larger. The three-bedroom offerings start at just under 1,000 sq. ft.

Rents start at about $1,500 per month for the smallest one-bedrooms while pricing increases into the $2,000 range and higher for the two-bedroom versions and three-bedroom rentals.

Article content

Advertisement 3

Article content

Furnished show suites give the feel of being in your own home as opposed to being in someone’s apartment.

All units are air conditioned, come with wraparound balconies and have stainless steel appliances including double-door refrigerators, in-suite laundry, soaker tubs and large almost floor-to-ceiling windows. Units also have electronic locking systems.

The building was initially designed to condominium, rather than rental, specifications, said Mostashari, who decided not to downgrade those specs when the decision was made to cater to the rental market. The Falcon switched to rental mode, Mostashari said, when market conditions showed it was the right and better play to make.

Above and beyond the unit amenities, Falcon One residents also have access to a host of other building features.

Those include a rooftop patio and lounge on the 30th floor, an adjacent test kitchen, and then there’s a dog run. In other parts of the building there will be an office zone with dedicated work and meeting space, a gym and yoga room, and a dog wash zone in the underground parkade. There will also be an area for bike storage.

Advertisement 4

Article content

As to the question of whether renters are considering Falcon One as their new home, Mostashari said the suite sizes, the building’s amenities and its location have already resulted in the creation of a waiting list. “There is a lot of interest,” he said.

Downtown Believer

For Mostashari, this isn’t his first downtown residential high rise.

His Langham Developments is the company behind the two Fox Towers, the two Icon Towers and the Omega, all residential high rises that were built between 2003 and 2017.

The Omega, on 105th Street and 99th Avenue, comes in at 14 storeys and was completed in 2005. Then came the two Icons on 104th Street, at 30 and 35 storeys, that were finished by 2010. That was followed by the two Fox Towers, also on 104th Street, at 28 and 33 storeys, that were finished in 2015 for the first tower and 2017 for the second.

“I’ve done a lot in Edmonton on this street (104th Street),” said Mostashari, who noted that Langham, which came into being in 2001, has played a role in adding to the vibrancy of the city’s downtown. “The investments weren’t just about the monetary value. It was very rewarding to be able to help revitalize our downtown. That was a major driver (of all these projects).”

Mostashari said the total value of those investments for the five buildings likely comes at close to $1 billion.

Article content