Last Updated on March 27, 2024

What is a High-rise Apartment? | Real Estate Definition

By Alan F Macdonald

What is a High-rise Apartment? | Real Estate Definition

What is a High-Rise Apartment?

A high-rise or highrise apartment building is any building 5-stories or more. High-rises are not that common in Edmonton except in the Downtown, Oliver, Strathcona and Garneau areas, where land value promotes higher density buildings.

Real Estate Agent Explains High-Rise Apartments

In Edmonton, high-rises must be made of concrete and steel. Since they are typically much more than 5-stories tall, they tend to have heated underground parking as well. This can be a big perk in the cold Edmonton winter, but it does cost a lot to heat and maintain a parking garage – especially with our soft soil all around us. Watch for big repair bills for underground parkades, which could lead to special assessments or high condo fees. All high-rise apartments must have a sprinkler system installed as you cannot have a fire escape in a building that high. Also, high-rises all have elevators as well as stairwells. Elevators can be very expensive to fix as well.

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    Not all high-rises are condominiums. Some are owned by investors and entirely rented out.

    Why Does it Matter?

    High-rises have benefits and drawbacks over low-rise apartments and other forms of condo living. Being high up might give you a view, but it might suck having to wait for an elevator. You might enjoy the concrete structure around you for sound dampening, but try hanging some curtains without a hammer drill – not fun. Being familiar with these differences helps you choose the right place for you and helps you understand how to maintain your home once you’ve moved in .

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