east village hilton
Stain season
garden gurus
$75 million hotel development slated for downtown Calgary
Properly prepping your deck for the arrival of summer
A look at Calgary’s community gardens
municipal A6
how to A12
green living A19
FREE may 11 to may 17 2012 issue 02-18 www.creb.com
Affordability remains resilient in face of construction surge cody stuart
managing editor
B
uild it and they will come? For Calgary homebuilders, it would seem that yes is the obvious answer. Arriving on the heels of a substantial increase in Calgary home sales comes the news that construction in the city is also continuing to thrive. For the month of March, the total value of building permits – seen as a key indicator of economic conditions – in Calgary rose to nearly $458 million, an increase of 33 per cent. The increase follows even larger gains in February, when permits in the city rose by an astounding 46 per cent. While building permits simply represent the intent to build, numbers from Canada Mortgage and Housing Corporation (CMHC) indicate that there’s plenty of construction already underway in the city. According to figures released by CMHC, housing starts in the Calgary totaled 1,708 units in April, up from 556 units in the previous year. To the end of April, total housing starts reached 4,908 units, an increase from 2,104 units in 2011. A total of 557 single-detached units broke ground in April 2012, up 33 per cent from 418 units in the previous year. After four months, single-detached starts in the city have increased 30 per cent from 1,399 units in 2011 to 1,813 in 2012. Multi-family starts, which consist of semi-detached units, rows, and apartments, rose to 1,151 units in April 2012, up from 138 units a year earlier. Apartment starts have been a substantial contributor to multi-family production for the last several months. There were 918 apartments started in April, compared to only four units in 2011. Semidetached and row units were also up from the same month last year. Yearto-date, multi-family starts reached 3,095 units, more than four times the 705 units reported in 2011.
construction A3
Kelsey hipkin, Reportor/Photographer
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* APR ‘10 – APR ‘12
59
58
56 50
52
50
49 49 48 45 39
38 39
41 41
CREB® STAFF
48
A
43 40
38
APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12
36
52 52
52
45
60
*All statistics based on monthly data compiled by CREB® via MLS® activity.
lberta is expected to remain atop Canada’s economic leaderboard this year according to the Provincial Monitor report released by BMO Economics. The province’s economy outperformed the national average in 2011 with 5.2 per cent GDP growth attributed to rising oil production. Alberta’s growth is 1.5 percentage points higher than the national average at 3.4 per cent.
economy A3
contents news briefs
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event listing
A6
mortgage rates
A10
business directory A10 test your knowledge A14 Cycling in Calgary
A14
commercial Downtown market thriving
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B1
open houses
B23
Beautiful aRCHiteCtuRal DeSiGN
Contemporary Elegance!
$949,900
Alberta to remain atop canada’s economic leaderboard
forbes
associates
joel semmens 403-803-0751
Contemporary elegance in this 3 storey home located in the great community of Killarney. High-end custom builder`s own home. The level of finish is extremely high & evident with interior design done by Calgary`s Paul Lavoie. Main floor boasts a high-end kitchen with Sub-Zero fridge & wine fridge, granite countertops and a commercial gas stove. Quarter-sawn, on site finished, white oak floors & 9 ft. ceilings are featured on all levels of the home and all doors are solid rift cut oak. Upstairs oasis features a large, New-York style loft with a full wet bar & bar fridge. A spacious 4th guest bedroom and built-in den round out the lower level of this amazing home. MLS®C3515038 OPEN HOUSE: MAY 12, 2-4:00 PM. 2839 26 STREET SW.
the beautiful, architectural design boasts a spacious, 2 bedroom, 2.5 bathroom floor plan complete with gourmet kitchen, dining area & great room. the main floor accommodates an open concept featuring quartersawn mahogany hardwood floor throughout. the gorgeous kitchen has a large cabinet style pantry, dark-stained full maple cabinets, and elegant quartz countertops & stainless steel appliances. the fireplace situated in the center of the great room makes for a comfortable design layout. each of the two bedrooms on the 2nd floor has a private ensuite, presenting polished marble countertops & expansive vanity mirrors. this brand new condominium is nestled in the heart of the city and in one of Calgary’s oldest communities. 4 new units to choose from. MLS®C3520788
Real Estate (Central)
2510 12B ST SW | $550,000
www.sanostante.com
re / ma x re al estate ( centr al )
403.289.3435