“It’s a very unique building,” he says. “It’s a real landmark for Richmond.” He also credits the prime location – “It’s right in the heart of downtown Richmond, just blocks away from city hall and across the street of Richmond Centre” – as well as the need it fills in the market – “there’s a real market for class-A commercial and retail property in downtown Richmond.” As for the residences, Mike credits the buyer response to the high-end finishes, the high-end appliances, the airconditioning, and the extensive amenities on the property – including a yoga room, fitness centre, a wet and dry sauna, a tasting kitchen and dining room, children’s play area, meeting rooms, two screening rooms, and even a McLaren Formula 1 simulator room. “There are a lot of amenities in this building,” Mike understates. “It’s really, really nice.” Keltic is proud to have achieved such a high quality result – and they are especially proud of achieving it ahead of schedule, despite the challenges of COVID. Again, Mike says the key there was getting all the material ordered ahead of time and paying their contractors to store it. “That’s really the story of Paramount,” he says. “We told our guys to get all the material here. That incurred some additional costs for us, but we analyzed the costs of doing that versus the financing costs of being two months late, and we realized it was a no-brainer.” Due to the size of the site, Paramount construction team was also able to work steadily through COVID, which helped a lot. MARCH 2022
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