Langham Properties Ltd.

Click on the icon┬áThe real estate mantra is location, location, location, but the real winners are those who, like Langham Properties Ltd., see tomorrowÔÇÖs location more clearly than others, as Dan Bailey learns. For most of the past 25 years, the city of Edmonton has outgrown the rest of Canada. There are now more than a million people living in the metropolitan census area, and the forecast is that it will increase by almost another 10 percent in the next five years.Amongst a diverse portfolio of industries and services, EdmontonÔÇÖs workforce has found ready employment in the resource mining sector, particularly oil sands. In the first part of the decade the number of people working in mining and oil extraction went up by 77 percent. Ironically, though, today there are more people in Edmonton working in finance and real estate than any other sector.But one way or another, there is a good deal of money in the pockets of EdmontonÔÇÖs citizens, and Langham Properties is doing its best to provide these well-heeled people with the kind of city living accommodations they want.One of the principal thoroughfares of Edmonton is Jasper Avenue, home to many of the cityÔÇÖs oldest heritage buildings and some of its tallest office towers. Set among these high risers, the two highest buildings are LanghamÔÇÖs latest offerings: Towers I and II of the prestigious Icon development.Although Jasper Avenue and 104 Street are right in the heart of downtown Edmonton and just a short distance from the university and legislative buildings, its industrial past renders the area as ÔÇ£up and comingÔÇØ rather than having already arrived.┬áNevertheless, the trendy set is drifting in. There are already a handful of sleek lofts and condos as well as a growing list of exclusive shops and galleries. During the summer months, the streets are often closed off so that farmersÔÇÖ markets can be held. Langham is banking on the area eventually assuming a leading role in the life of the city and providing a central location for the next generation of business and academic leaders.At 30 and 35 stories respectively, the two Icon buildings, towering high above street level, will eventually provide 247 dwellings. Yet the fact that 500 or so people will be housed in a relatively small footprint and provide a badly needed injection of new blood to the locality hasnÔÇÖt stopped some criticism that the historic feel of the area will be lost. Consequently, architects of the new complex have anchored the towers to a four-story red brick base, which at street level has been designed to reflect the quaint, old-world charm of 104 Street, EdmontonÔÇÖs original warehouse district. Here, 64,000 square feet of commercial and retail space are planned to ensure that residents wonÔÇÖt have to travel too far to have their daily needs satisfied.┬á The two towers are slightly angled and staggered in order to provide maximum privacy and the best possible views toward the Saskatchewan River valley. To provide an oasis of calm amid the bustle of downtown, the towers have tranquil roof gardens.The Icon is a project of Langham Properties Ltd., a relatively new Edmonton developer run by company president Reza Mostashari and partner Medi Nasseri. The aim for the Icon is a building capable of attracting a wide range of buyers. Consequently, the building has smaller one-bedroom units, mostly on the lower levels, while at the top of the tower will be luxurious penthouse and sub-penthouses and $2 million penthouse suites. Langham already has one condo development under its belt not too many streets away, and the same architectural team has designed the Icon. The overall design strategy has been for simplicity rather than avant garde in order to give it a timeless feel, regardless of the year.The recent economic woes havenÔÇÖt helped anyone in real estate development, but Langham is hoping that the cityÔÇÖs new icon will soon be fulfilling its role in revitalizing a central part of Edmonton.  ÔÇô Editorial research by Greg Petzold