Proposed arp
Mudroom magic
Northwest residents voice concerns
Organize your entryway
municipal A6
lishelle trembath A15
heritage pointe FEATURE a8 – A10
FREE july 26 to aug 1 2013 issue 03-29 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
East Village rises above
Calgary community had flood mitigation measures in place, announces new retail offerings kelsey hipkin
reporter/photographer
T
he backers of East Village won’t let recent flooding get in the way of their goal of making it one of the city’s most sought-after neighbourhoods. According to flood maps released by the Province of Alberta, East Village is in a pink zone or flood fringe, despite flood mitigation measures undertaken by the community. “The buildings that are being built in East Village are buildings that are considering flooding, so what does that mean? It means you have your electrical and mechanical buildings above grade,” said Michael Brown, president and CEO of the Calgary Municipal Land Corporation. “We have done, and our developing partners have done so much work to make sure that (the Simmons Building) would stand up to a flood.” Other measures including raising both the Simmons Building and roadways to take them out of the “flood path” and, after flooding began June 20, Brown said River Walk — a stretch of river pathways in front of the Simmons Building — was never under water and the Simmons Building “stood up incredibly well”. “The water we saw within the Simmons Building was ground water, we had three feet of water in there, we started pumping on Saturday and it was out by Sunday,” he said. “With the history of this building, this flood was significant for Calgary, it wasn’t significant for the Simmons Building, it did incredibly well.”
east village A3 A new tenant group comprised of Calgary’s Sidewalk Citizen Bakery, Charcut and Phil & Sebastian will occupy the Simmons Building in East Village. kelsey hipkin, Reporter/Photographer
SINGLE FAMILY
JUN11 JUL11 AUG11 SEP11 OCT11 3761 NOV11 2761 DEC11 2980 JAN12 3093 FEB12 3367 MAR12 3501 APR12 3842 MAY12 3817 JUN12 3646 JUL12 3535 AUG12 3486 SEP12 3114 OCT12 2586 NOV12 DEC12 1859 JAN13 2075 2048 FEB13 2727 MAR13 2977 APR13 3311 MAY13 3199 JUN13
4744 4630 4573 4753 4486
MLS® MONTH END INVENTORY* JUN ‘11 – JUN ‘13
Bank of Canada continues to maintain overnight target at one per cent CREB® STAFF
T
he Bank of Canada has announced it’s maintaining its target for the overnight rate at one per cent, a number it’s held for almost three years. “In Canada, economic growth is expected to be choppy in the near term, owing to unusual temporary factors, although the overall outlook is little changed from the Bank’s projection in its April Monetary Policy Report,” said a release from the bank.
industry A3
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Exceptional Value in this 2 storey walkout on 25 acres
113127 450 Avenue eAst
$989,000
contents news briefs
A3
mortgage rates
A12
Municipal
A12
$52 million question
pop the question Lori Andrews
commercial
A14
construction
A14
Canmore’s Spring Creek
map
B1
open houses
B23
Features Include: • Energy efficient home built with ICF • 3245 sq. ft. on main and above, plus 1488 sq. ft. on lower level • In-floor heating on all three levels • Great floor plan, 4 bedrooms, 3.5 baths • Fully developed basement and full suite • Oversized triple attached garage • Well 8 GPM • MLS®C3563136
Jovette Morin-Ferguson 403.660.3612
A13
email: jovette@realestatefoothills.com website: www.realestatefoothills.com
R
Foothills