Calgary New Condo Guide - Apr 3, 2015 by NextHome

Apr 3 - May 1, 2015 Volume 18 Issue 4

LIVE ON THE PARK GARAGE TOWNHOMES FROM THE LOW

INSIDE THIS ISSUE

300s

+ GST

LOWER LENDING RATE COULD SPELL TROUBLE FOR SOME

SAM AWARDS FINALISTS ANNOUNCED!

6 SIMPLE SPRING CLEANING TIPS

BUILDING FOUR NOW RELEASED

CHBA - Calgary Region

2012

Building One is sold out, few units remain in Building Two and Building Three is selling fast. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside location.

790 - 1125 SQ. FT. ONE BEDROOMS FROM THE LOW $300S 1220 - 1695 SQ. FT. TWO BEDROOMS FROM THE LOW $500S Presentation Gallery - 350 Quarry Park Blvd SE Mon. to Thur. - Noon to 8pm • Fri - Closed • Sat & Sun - Noon to 5pm

re m i n gt on c or p. c om • 403 . 930. 6900 How did engineering protect Quarry Park from the Flood of 2013? Visit our Presentation Gallery to learn more.

GARAGE TOWNHOMES FROM THE LOW

300s

+ GST

LIVE ON THE PARK. THREE TOWNHOME STYLES

NOLAN HILL BLV D

L HIL AN NOL BLVD

§ Walk-out lots available

SYMONS VALLEY PKWY

SHERWOOD DR

SYMONS VALLEY PKWY

VISIT OUR NOLAN PARK SALES CENTRE TO LEARN MORE. SALES CENTRE & SHOW SUITE: 355 NOLAN CREST HEIGHTS NW DARRYL SOLLY: 403.816.5895

SAGE VALLEY BLVD

LL DR

NOLAN CREST HTS

SARCEE TRAIL

I AN H NOL

§ Single, double and tandem garages

NOLAN PARK

IL RA IT PP

§ Backs onto park

NA GA SHA

§ 2 and 3 bedroom townhomes

SAGE HILL DR

144 AVE

STONEY TRAIL

MON – THUR: 2 PM – 8 PM WEEKENDS & HOLIDAYS: NOON – 5 PM CLOSED FRIDAYS

CONDOS + TOWNS

Built for real life. CARDELCONDOS.COM

S DE H N OW SIG O W H NE O OM R PE E N S

Experience The Timbers Difference GAS RANGE OVERSIZED WINDOWS QUARTZ COUNTERTOPS HARO LAMINATE WOOD FLOORING

2 3 BEDROOM TOWNHOMES from $359,900 SALES CENTRE 922 SHERWOOD BLVD NW CALGARY

gablecraft.ca/thetimbers

Mon to Thurs – 2pm to 8pm Friday – By Appointment Only Sat & Sun – 12pm to 5pm

403.456.2328 Artistic rendering only. Pricing and availability are subject to change without notice. The developer reserve the right to make changes to the information contained herein. E.&O.E

O.E

THE MOST ANTICIPATED HOMES IN VICTORIA PARK THE GUARDIAN NORTH - SOLD OUT! MOVE IN THIS SPRING THE GUARDIAN SOUTH - OVER 50% SOLD MOVE IN NEXT SPRING

1-BEDROOMS

starting at $264,900

2-BEDROOMS

starting at $445,900

PARAMOUNT SUITES

starting at $1.4 million

Developed by Hon Developments. Renderings are artist’s interpretation. Prices subject to change without notice. E&EO. 6

PRESENTATION CENTRE 456 -12TH Avenue SE Mon – Thurs 12 – 6PM

TEL 403 800 3368 Sat & Sun 12 – 5PM

CONTENTS

APR 3 – MAY 1, 2015

VOLUME 18

ISSUE 04

COVER STORY

Cardel Lifestyles launches

new townhome project in Nolan Hill

by Heather Ryan

COLUMNS / NEWS / HOMEBUYERS’ HELP 10

Editor’s Note

16 In The News What goes down will come up, CREA reports 18 Around The House Great spring cleaning tips from Molly maid 24 Calgaryism Top five breakfast / brunch restaurants in Connaught by Cody Battershill

32 Contemplating Condominiums Age-restricted condos for the mature set by Linda Palfi

33 CHBA Awards 2014 SAM Awards finalists announced

58 Make Your Move A cleaner and Greener move

40 In The News Calgary – still one of the most affordable housing markets in Canada

62 Home Sweet Home Lower lending rates could spell trouble for overextended Canadians

42 Mortgage Advice Mortgage math by Alyssa Richard

48 Quick Tips Make way for spring by Hellen Buttigieg

by Chuck Resnick

by Lydia McNutt

Condo Buyer’s Resource Section You love the condo, see what you can afford!

66 Advertiser Index

PROJECT LOCATION MAPS

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill

Northwest Map

45 Inner City

23 Southwest Map

57 Satellite Communities

61 Northeast Map

Southeast Map

EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Daiana Garay EDITOR

Lydia McNutt

CONDO PROFILES

CONTRIBUTING EDITORS

Sara Duck Wayne Karl Elisa Krovblit DESIGN EDITOR

Yanic Simard

Media Consultant

Natalie Houghton 587.226.1313 Like us on Facebook: search: CalgaryNewCondoGuide

PRODUCTION MANAGER

Bala Gnanapandithan PRODUCTION CO-ORDINATOR

Greg Van Sluytman GRAPHIC DESIGNER

Viosa Barileva Published by

MAX by Assured Communities Assured elevates urban living with boutique townhome project — By Heather Ryan

NewHomeAndCondoGuide.ca 2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 ADVERTISING RATES

T 587.226.1313 email natalie.houghton@ypnexthome.ca CIRCULATION Copyright covers the contents of this

MOSAIC RIVERSTONE by Brookfield Residential Mosaic Riverstone presents luxury townhomes along the Bow — By Heather Ryan

publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. COPYRIGHT 2015 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. Yellow Pages NextHome is a trademark of Yellow Pages Group Co. in Canada. EDITORIAL Submissions from interested parties will be considered. Please submit to Susan.Legge@ypnexthome.ca The views and data expressed by columnists do not necessarily represent those of the publication. Please recycle this magazine! Yellow Pages NextHome participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

THE CONDO CHOICE

SUSAN LEGGE Editor-in-chief

Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook! Search: Condo Guide

While a single-detached is the traditional home choice for many, highrise and lowrise suites, lofts and condominium townhomes have become a prime choice among homebuyers in the Calgary region – for first-time buyers, empty nesters, and all life stages in between. Not only does condominium living afford you the opportunity to live in a prime neighbourhood at a great starting price, when it’s time to move up you can often opt to remain in the same neighbourhood, since many buildings and condo townhome communities offer a mix of designs and sizes, which allows families to relocate easily without having to change jobs or schools. Today’s condo communities generally have a range of sizes and prices that start at the “affordable” end of the price spectrum. This spring, many builders are gearing up for their grand openings or have suites available for quick occupancy. It’s an exciting time to be shopping for a new condo, and you’ll see that popular communities still have a lot of buying activity, so don’t miss out on this excellent opportunity. Have a look through this issue and see what you think. The home of your dreams is waiting.

A CLEANER, GREENER HOME

LYDIA MCNUTT Editor

Lydia.McNutt@ypnexthome.ca Follow me on Twitter at Twitter.com/LydiasTweets

With the springtime awakening of the outdoors and Earth Day approaching on April 22, going Green is always a hot topic at this time of year. People have a passion for all things eco, whether for Earth’s preservation, personal health reasons, or for the money savings often associated with this way of life. Buyers of brand new homes enjoy the benefits of the newest and best environmentally friendly features that everyone wants these days, built right in from the ground up. So, if going Green is important to you, shop around and learn what each builder offers. Not only will you be doing your part to protect the environment, but the Green benefits also extend to your wallet in the form of lower operating costs, and possibly higher resale value when you sell the place one day. Construction aside, think about all the little things you can do in your home that will make a difference to the planet. Be passive! Using less does more than you think. Replace incandescent light bulbs with compact fluorescent ones to reduce energy consumption, or install low-flow showerheads and faucets, if your builder hasn’t already done so. Once you make the initial change, you won’t give it a second thought. Green products, materials and services have become more accessible and affordable. Check for municipal, provincial and federal rebates to help ease any financial burden. Going Green is not about celebrating Earth Day for one day. It’s about a lifestyle change, 365 days a year.

10 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

COVER STORY

Cardel Lifestyles launches new townhome project in Nolan Hill By Heather Ryan

SITUATED ON A PRIME SITE in one of the fastest growing communities in Calgary, Cardel Lifestyles is thrilled to launch Nolan Park, a fabulous new townhome community that backs onto a large park in the heart of Nolan Hill. Nolan Park, which consists of 123 three-storey townhomes, was launched on March 28, which presents buyers with single, tandem or double-car garages, great features and livable designs, all at an affordable price. “For townhome buyers, it’s all about location and convenience,” says Cardel Lifestyles’ sales and marketing manager Brad Logel. “And we’ve been told by many in the industry that Nolan Park is the best new townhome location in suburban Calgary and we’re very excited about it.

“Northwest Calgary is a desirable area and people want to live in Nolan Hill,” Logel adds, noting the community is growing extremely fast because it offers great access to major routes such as Stoney, Sarcee, Shaganappi and Deerfoot Trails for ease of getting downtown, to the airport and points across the city and out-of-town. “We’re within walking distance to The Gates of Nolan Hill Shopping Centre, which is expected to open in July and will include a Sobeys, Starbucks and State & Main,” he says. “We’re also minutes from other shopping centres, such as Sage Hill Crossing, Beacon Hill Shopping Centre, Creekside Shopping Centre, Cross Iron Mills, Symons Valley Ranch Farmer’s Market and the future Sage Hill Common, which will place numerous neighbourhood conveniences across from our condo development Sage Place.” At Nolan Park, Cardel offers buyers three different main styles of townhomes ranging between 1,265 and 1,550 sq. ft. with two- and threebedroom layouts, two and a half bathrooms, flex space on the garage level, and starting in the low $300,000s. Inside, terrific features abound with nine-ft. ceilings on the main floor, upstairs laundry with washer and dryer included, master bedroom with walkin closet and ensuite, high-efficiency furnace, and kitchens with a pantry or cabinet, island or eating bar, full-height backsplash, self-closing drawers and a complete appliance package that includes a 21-cu.-ft. fridge, a smooth-top range, dishwasher and hood fan. NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 11

“Basement development is standard in some plans and optional in others, and most have nine-ft. ceilings on this lower level,” Logel says, noting that end units offer additional space and windows. As well, the townhomes present very attractive exteriors with Hardie Board siding and stone features, depending on the plan, a rear deck, and some plans feature front porches and full driveways. Buyers will also be pleased that they have the ability to customize their homes with designer-selected colours, cabinets, tile, flooring, lighting, contrasting two-tone upper/ lower cabinets, and more. “We’re providing townhomes for every type of purchaser, from a ‘right sizer’ to a young professional starting out. These feel like a single-family house and it will be interesting to see the response. We think buyers will be excited because they offer quality construction and very high value,” Logel says.

12 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

The townhomes present very attractive exteriors with Hardie Board siding and stone features depending on the plan, a rear deck and some plans feature front porches and full driveways “We’re also providing amazing customer service and care to our homeowners,” he says, noting that Cardel Lifestyles is a finalist for the New Homebuyer Choice Award through Customer Insight and Alberta New Home Warranty. Nolan Hill also appeals to buyers because of its old-world Irish charm highlighted by castle-ruin structures at the main entry and a tranquil natural setting of rolling hills and ravines. It offers acres of greenspace, three beautifully designed wet ponds parks, as well as its extensive linear pathway system.

Nolan Park is located at 355 NolanCrest Heights N.W. and buyers are invited to visit the presentation centre, open Monday to Thursday, 2 to 8 p.m., and weekends and holidays, noon to 5 p.m. To learn more about Nolan Park, call 403.816.5895 or visit cardelcondos.com or cardellifestyles.com.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 13

NORTHWEST

NORTHWEST COMMUNITIES

AIL

DIN GTO N

JO HN CR LA OW UR 14 IE CH BLV ILD D. TR AIL

5353 Crowchild Trail NW

18 SONOMA AT SAGE HILL 16 AVENUE BY VERTICAL PROPERTIES 881 Sage Valley Boulevard www.sonomasagehill.com R IV E

D19 916

BY SABLE DEVELOPMENTS

36 STREET

Sales Centre Now Open

17 Ave

21 LIDO BY BATTISTELLA

04 WILLOW AT SHERWOOD BY AVI URBAN Visit Sales Centre at 64 Nolan Hill Gate

05 ARRIVE AT EVANSTON BY PARTNERS DEVELOPMENT GROUP Symons Valley Parkway please call 587-755-1166

06 TRINITY BY JAYMAN MODUS 44 Nolan Hill Blvd. NW GLENMORE RESERVOIR

Sales Centre 1120 Kensington Rd

22 AVIRA BY JAYMAN MODUS Sales Centre located on Evanspark Blvd. NW

BARLOW TRAIL

Sales Centre Now Open 3503 Sage Hill Drive NW

BY STATESMAN HOMES

BLACKFOOT TRAIL

03 VIRIDIAN BY TRICO HOMES

Coming Soon Register today: Ezraonrileypark.com

AveTHE GROVES OF VARSITY 3215

ME M O R I AL

ELBOW DRI VE

RE T BY BUCCI RAIL Presentation Centre opening soon at 2nd Ave and 10th St. NW

02 19

37 STREET

175 Panatella Hill NW 02 KENSINGTON GLENM O

SARCEE TRAIL

69 STREET

85 STREET

01 PANORAMA WEST BY CARDEL LIFESTYLES

11 EZRA ON RILEY PARK BY BIRCHWOOD PROPERTIES

14 UNIVERSITY CITY BY KNIGHTBRIDGE

16 AVENUE 11

Now Open Show suite 175 Panatella Hill NW

CALGARY INTERNATIONAL AIRPORT

64 Ave

OLD BANFF COACH ROAD

10 SAGE PLACE BY CARDEL LIFESTYLES

CENTRE STREET

NOSE HILL PARK

Coming Soon Register: cardelcondos.com

IL N

14 STREET

AIL ENU

14 ST RE ET

TRA

FO OT TR A

BED

09 NOLAN PARK BY CARDEL LIFESTYLES

TR AG AN SH

SE NO

Y TR

16 A V

CENTRE STREET

01 . BLVD

LS Y HIL UNTR

NA PI

R. LD HIL

E STON

Coming Spring 2015 Register: jayman.com/carnaby

STONEY TRAIL NW

08 CARNABY HEIGHTS BY JAYMAN MODUS

STONEY TRAIL NW

EDMONTON TRAIL

HA RV BLVEST H D N ILLS E

14TH ST NW

10 18 03 SY MO NS VA 08 06 07 LLE

Sherwood Blvd at Sherwood Way NW Register Now www.thetimbers.gablecrafthomes.ca

MacLEOD TRAIL

COUNTRY HILLS BLVD.

SYMONS VALLEY PKWY

85 ST. NW

ROCKY RIDGE BLVD.

144 AVE NW.

07 THE TIMBERS BY GABLECRAFT HOMES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

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M AIL TR

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VITT

McKE

TR OD

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S JAME

SHAWNESSY BLVD.

EK P ARK

TTO BO

FISH

RAIL

IS OF

U MARQ

E LORN

TRAIL

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 15

NORTHWEST

IN THE NEWS

What goes down will come up, CREA reports By Lydia McNutt

anadian real estate is a tale of two markets – the Prairies, and the rest, according to the latest resale forecast by the Canadian Real Estate Association (CREA), with lower national sales in 2015 due to decreased home sales in Alberta. “National sales are now projected to reach 475,700 units in 2015, representing an annual decline of 1.1 per cent. This would place annual activity slightly above but still broadly in line with its 10-year average,” CREA reports. Looking into 2015, CREA predicts an uptick in activity across most provinces, thanks to the weakened Canadian dollar, mortgage rate declines and the boost in the U.S. economy. But that won’t positively impact the resale forecast for the Prairie provinces, where sales are expected to drag thanks to further declines in oil prices prompting potential buyers to wait while sellers continue to list. The biggest impact will be in Alberta, where home sales in 2015 are expected to fall 19.3 per cent – well below the elevated pace set in the last three years of seller’s market conditions. In the face of Alberta’s high-supply-low-demand scenario, Ontario and British Columbia are singing a very different tune with tightening inventory and increasing demand, resulting in price gains that surpass inflation this year at 2.5 and 3.4 per cent, respectively. Meanwhile, prices are expected to remain stable in other provinces, with the exception of Alberta, where “average price is forecast to fall by 3.4 per cent, reflecting a pullback in sales for luxury properties compared to homes in more affordable price segments,” according to CREA. But as they say, what goes up must come down – and vice versa. Looking ahead at 2016, national home sales are expected to increase 1.7 per cent to $482,700 units in 2016, in line with the anticipated economic recovery in Alberta and Saskatchewan. “Meanwhile, anticipated mortgage rate increases are expected to keep activity in check in markets where homes are already less affordable and prices have continued rising,” according to CREA, which forecasts the national average price to rise by a further 1.9 per cent to $424,100 in 2016. 16

NORTHWEST

AT EVANSTON

AT REDSTONE

ARRIVE HOME Take pride in owning an ARRIVE townhome because it’s built environmentally responsible – and love it because it is certified BuiltGreen™ to save you money. Our townhomes feature spacious floor plans with 2 to 4 bedrooms, all include laminate flooring, 2.5 baths, and an essential heated attached garage, with a full depth driveway.

OA D

NE STO

IL N

SV AL

TE ON

BEDDINGTON TRAIL

REDSTONE WAY 128 AVE

COUNTRY HILLS BLVD

ON LOCATION SALES CENTRE NOW OPEN!

VISIT OUR SHOWHOMES TODAY

1 BLOCK WEST OF 14TH ST. NW ON SYMONS VALLEY PARKWAY

104 REDSTONE VIEW N.E. OFF REDSTONE WAY

CALL 587-755-1166

CALL 403-264-8963

FOR PRE-CONSTRUCTION INCENTIVES

STONEY TRAIL

SI SY M

REDSTONE DRIVE

REDSTONE STREET

VA L

STONEY TRAIL

METIS TRAIL

14 ST

WY PK

OT TRAIL

TE CA EVANSTON DR

E ND IV A US CE ND CL PA OU EX NS GR EE AY GR PL

LO 144 AVE

OVER 60% SOLD

EVANSTON SALES CENTRE AND REDSTONE SHOWHOMES OPEN: MONDAY TO THURSDAY 2PM TO 8PM SATURDAY AND SUNDAY 12PM TO 5PM

ARRIVE AT EVANSTON LOCATION

ARRIVEHOME.CA 17

AROUND THE HOUSE

GREAT SPRING CLEANING TIPS FROM

MOLLY MAID

SIMPLIFY YOUR CLEANING PRODUCTS. Limit spring cleaning products to a quality window/glass cleaner, all-purpose cleaner, tile/grout cleaner and a toilet bowl cleaner.

In each room, clean from the top to bottom, starting on the left and moving right. This really is the quickest and most efficient way to thoroughly spring clean your home.

TO SOFTEN SPLATTERS... inside the microwave, fill a cup with water and microwave on high for a few minutes. The steam will loosen any baked on food so you can easily wipe it clean. Before wiping the microwave, remember to be extra careful when removing the cup of water, as it will be hot.

CLEAN FROM THE TOP DOWN.

SPONGES ARE GERM INCUBATORS.

Microwave damp sponges on high heat for several minutes to kill bacteria.

IF THERE’S PET HAIR ON UPHOLSTERY...

ALWAYS DUST THE ROOM FIRST, THEN VACUUM.

a damp microfibre cloth or rubber glove will easily remove it.

That way, any bits of dust or dirt that fall to the floor as you’re dusting will be picked up by the vacuum cleaner.

If all of these spring cleaning ideas sound a bit daunting, contact Molly Maid, the spring cleaning experts at mollymaid.ca

2SHOW

SUITES NOW OPEN!

F o n t : J e l l y k a - E s t r y a ’s H a n d w r i t i n g - R e g u l a r ) Colors: Pantone 376 C Pantone 3155 C

WHO SAYS YOU CAN’T HAVE IT ALL? • • • • • •

9’ Ceilings Granite Countertops Laminate Flooring In-Slab Heating Stainless Steel Appliances Parking Included

Condos in Sage Hill From the low

200’s*

Plus GST

*Rendering is artist’s concept only and may be subject to change. Prices subject to change without notice. E.&.O.E.

Condos BY TRICO COMMUNITIES

Visit our sales centre at 3503 Sage Hill Drive NW or viridiancondos.ca 18 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

F I L E

N A M E S

A R E

F O R

I N T E R N A L

U S E

O N LY

The Pinnacle of

LUXURY A Brand New Magazine Dedicated to High-End Properties in Calgary and Area

The only magazine of its kind in Calgary, Luxury Living showcases high-end homes, condos and properties. This is your exclusive opportunity to establish your property as the pinnacle of affluent living.

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Entertaining with

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TO BOOK YOUR ADVERTISING SPACE CONTACT: Natalie Houghton 587.226.1313 natalie.houghton@ypnexthome.ca

AN UPSCALE ADDRESS

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NORTHWEST

! D L O S % 0 8 R E V O Calgaryâ€™s Fastest-Selling Villa Community is Now in its Final Phase VISIT OUR SALES CENTRE TODAY 1 Watermark Villas, Calgary (Just off 12 Mile Coulee Rd. NW) 403.474.5985

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CHBA - Calgary Region

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This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E.

Community of the Year Calgary Region

SOUTHWEST

WEST 85th in West Springs | #2118, 8561 - 8A Avenue SW | 403.474.4875

TR AIL PI NA SH AG AN

DR . HIL L NO SE

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NOSE HILL PARK

HN CR LA OW UR IE CH BLV ILD D. TR AIL

CALGARY INTERNATIONAL AIRPORT

64 Ave

16 AVENUE

ORE

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36 STREET

03 17 Ave

05 11

GLENMORE RESERVOIR

05 OVERTURE BY JAYMAN MODUS

Sales Centre Now Open in Currie Barracks

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07 GLAS BY AVALON

2712 17th St. SW

08 ALEX BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

09 MISSION 34 BY ASSURED COMMUNITIES

TTO BO

98 Mission Road SW mission34.ca

M AIL

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McKE

AIL D TR LEO SHERIFF KING ST. SW

Mac

S JAME

194 AVE

RAIL

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EK P ARK

SHAWNESSY BLVD.

03 OVATION BY INTERGULF CIDEX

771 Patrick St. S.W.

ANDERSON ROAD

CRE

1710-28 Ave. SW www.brooklyncondos.ca

#2105, 99 Spruce Place S.W.

SOUTHLAND DRIVE

FISH

CONDOMINIUMS BY TRICO HOMES

04 THE LANDINGS BY STATESMAN

BARLOW TRAIL

ME M O R I AL

37 STREET

GLE

69 STREET

85 STREET

1020 194th Ave S.W. www.hunterhouseliving.com

MacLEOD TRAIL

SARCEE TRAIL

01 HUNTER HOUSE BY STREETSIDE DEVELOPMENT 16 AVENUE

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

14 STREET

ENU

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

N F LOR

UIS O

MARQ

10 VIVACE BY STREETSIDE DEVELOPMENTS IL E TRA

Presentation Centre: 2118, 8561-8A Ave. SE

11 JUNO BY AVI URBAN

Sales Centre in Currie Barracks J5, 2953 Battleford Ave. SW

13 ALTADORE 36 BY BROOKFIELD RESIDENTIAL

36th St. & 16th Ave SW Register Now www.altadore36.com

14 MAX TOWNHOMES BY ASSURED DEVELOPMENTS 1605 25 Ave SW

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 23

CALGARYISM

Calgaryism’s top 5 BREAKFAST / BRUNCH RESTAURANTS IN CONNAUGHT By Cody Battershill

ou know what they say: breakfast is the most important meal of the day. Well, it’s a good thing that breakfast also happens to be my favourite! If you love breakfast and brunch as much as I do, I recommend you check out Calgaryism’s list top five breakfast restaurants in Connaught the next time you’re in for one of these meals away from home. Holy Grill 827 10th Avenue S.W., 403.269.4659 I can’t resist Holy Grill and the heavenly like meals this place serves! Try the Calgaryism eggs benedict if you get a chance: banana peppers, avocado, back bacon, spinach leaf and two eggs on top of a grilled English muffin, all smothered in hollandaise sauce. You won’t go back to regular bennies after this! MONKI Breakfast & Bistro 1301 10th Avenue S.W., 587.352.7131 Just down the street from Holy Grill is MONKI Breakfast & Bistro. MONKI’s own take on your favourite traditional breakfast entrée is worth trying. After all, it’s not like this place has been voted one of the best breakfast restaurants in Calgary by Calgaryism or anything (of course it has!). We recommend the steak and eggs or capicollo eggs benedict – both will put a huge smile on your face!

I highly recommend trying one of the gourmet omelettes. These delicious things aren’t only filling, but will have your taste buds reveling in every last bite. And the best part is that you can also build your own just the way you like it. Don’t miss the Galaxie Diner, it’s one of the best breakfast restaurants you’ll go back to again and again. Join Us @ Calgaryism The next time you’re looking for some of the best breakfast restaurants around, check out any one of these fine establishments. You won’t regret it! Looking for more of the best local restaurants? If so, join us at Calgaryism on Facebook, Twitter and Instagram. Hope to see you there!

Laurier Lounge 1111 7th Street S.W., 403.228.3771 Just across the street from Xenex Condos is the Laurier Lounge, homed in a historical building with a cosy charm that makes for a great breakfast or brunch sit-down every time. It also sits on a quieter street in the Beltline, which is nice for a spring or summer breakfast patio experience. While all of Laurier Lounge’s meals I’ve tried have been exceptional, one I highly recommend is the brunch plate. For $14 bucks you get bacon, one egg benedict, hash browns and two fruit mix crepes. Red’s Diner 1415 4th Street SW, 403.266.3448 Those looking for more of a typical breakfast experience should visit Red’s Diner on the corner of 14th Avenue and 4th Street S.W. Apart from great food, Red’s Diner also has great prices and can seat more customers than other smaller breakfast diners, which is nice if time is of the essence. Once again, I recommend the protein-packed steak and eggs. The steak is cooked to perfection and so lean that it made me wonder if they had a chef from the Keg working the morning shift. Galaxie Diner 1413 11th Street S.W., 403.228.0001 Another one of the best breakfast restaurants in Connaught is the Galaxie Diner. Consistency is everything in the restaurant business and Galaxie Diner delivers quality breakfast and brunch meals every time. 24 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

Cody Battershill is the founder of Calgaryism and a top producing realtor at Re/Max House of Real Estate. Cody has a passion for helping his clients reach their real estate goals and showing off the best Calgary has to offer! He can be reached at 403.370.4180, on Twitter @Calgaryism and Calgaryism.ca

SOUTHWEST

CONDO PROFILE

ASSURED ELEVATES

urban living with boutique townhome project By Heather Ryan

iscerning buyers are quickly discovering they can get everything they need and more of what they want in Assured Communities’ newest, exclusive townhome development in South Calgary. At MAX Executive Townhomes, buyers can enjoy a quality urban lifestyle without sacrificing outdoor living space, as it offers every convenience of modern living, coupled with distinctive, timeless design, at a price that makes sense in a great urban setting. MAX is an exceptional 10-unit executive townhome community crafted by Assured Communities in collaboration with internationally renowned Jenkins Architecture and Paul Lavoie Interior Design. “People have been bowled over by the design aesthetic these firms have created,” says Adrian Fabro of Assured Communities. “We’ve had hundreds of inquiries since the project was announced and the project is 30 per cent reserved since launching on Feb. 28. It validates the unexpected quality and value we’re delivering with MAX.” Nestled in one of Calgary’s up-and-coming inner-city neighbourhoods, these 10 townhomes present four26 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

storey floor plans in two rows of five residences that are separated by an internal motor court with private two-car garages for each unit and optional elevators. “The townhomes offer contemporary, open-concept living, north- and south-facing windows on all levels, and a rare fourth floor, which has large view windows, vaulted ceilings and an outdoor terrace,” Fabro says. MAX presents distinctive plans with two bedrooms with ensuites, a main-floor powder room and a fourthfloor area that can be converted to a lounge or master bedroom with an optional two- or three-piece bath. The homes present 1,600 sq. ft. of living space with 285 sq. ft. on the two outdoor terraces and a 550-sq.ft. garage/storage area for a total of 2,600 sq. ft. over four floors. The elevator option may be well worth considering for these large homes. Prices start in the low $800,000s and special pre-construction pricing is available during launch phase in March/April. Both inside and out, MAX delivers design elements that are expertly melded in classic-contemporary style to create casually elegant urban residences that ensure lasting pleasure and increasing value. Buyers appreciate the luxury within, which includes nine- to 10-ft. ceilings, choice of high-quality hardwood, tile and carpet flooring, lateral gas fireplaces with full-height, split-faced natural limestone surrounds, third-floor laundry with full-sized washer and dryer, kitchens with quartz or granite countertops, frameless lacquered slab-panel cabinets, KitchenAid Architectural Series II appliances, islands with quartz or granite waterfalls on both ends, pantry and full-height tile backsplash. The homes also feature two decks on the fourth and second floors (main) with gas line hookups, ample storage

in the garage, low-E windows, low-flow toilets, fire sprinklers, programmable thermostats, and offers buyers a choice of two colour palettes. “People love the large space, the fourth-floor flexibility and a two-car garage with ample storage and water connections,” Fabro says. “The townhomes appeal to professional couples, small urban families and downsizers alike. “South Calgary also provides a great location between Marda Loop and Uptown 17, which is rapidly gentrifying,” he says, noting there are numerous nearby amenities such as the South Calgary Community Centre (with a pool, tennis/basketball courts, off-leash park and sports fields) one block south and the $30-million cSpace Creative arts/culture community that is developing in the historic King Edward School one block west. As well, residents will find convenient retail shops, services, restaurants and more in Marda Loop and Uptown 17. The location of MAX also places it close to downtown and 14th Street transit with easy access to Mount Royal University, the University of Calgary and SAIT.

To learn more about MAX Executive Townhomes, visit the presentation centre at 2719 14 St. S.W., open Wednesday, 4 to 7 p.m.; and weekends, noon to 5 p.m. Call 403.452.2787 or visit maxcalgary.ca

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 27

WINNER 2014 28

SOUTHWEST

CHBA - Calgary Region

- 2014 -

Stacked Bungalow Show Suite shown

The maintenance free lifestyle at Hunter House makes getting out of town a breeze – but with all these great features, it’s hard to imagine staying away! Picture yourself in the established southwest community of Silverado, with quick access to all amenities and a home with all the high-end finishings you’ve been dreaming of. Stacked Bungalow features: • 10’ ceilings • Hardwood flooring in living & dining room • Oversized windows • Quartz or granite countertops • Office/flex area • Double car garage with driveway • Stainless steel appliances including chimney style hood fan and gas range Live in south Calgary’s premium address with floor plans from 1406 - 1622 sqft.

Townhomes from the $400’s (incl. GST) | Stacked Bungalows from the $500’s (incl. GST) 220 Silverado Plains Park SW HunterHouseLiving.com | 403.240.4664

SOUTHEAST

BLV

MCKNIGHT BLVD.

68 STREET

CENTRE STREE

TRA

14 STREET

32 Ave

16 AVENUE

12 AVENUE

RIVE RIAL D

MEMO

RIAL D RIVE

SOUTHEAST COMMUNITIES 36 STREET

MEMO

211 Mahogany Way

13 MOSAIC CRANSTON BY BROOKFIELD HOMES

114 AVE SE

DEERF18 OOT T RAIL

206 Cranford Drive SE

W BO

NEW BRIGHTON

14 BOULEVARD TOWNES BY BIRCHWOOD

M TTO BO

CRE

12 EBONY BY JAYMAN MODUS

84 STREET

52 STREET

BARLOW TRAIL

AIL

IL E TRA

RN OF LO

CHAPARRAL CRANSTON

05 01

01 CRANSTON RIDGE BY CARDEL LIFESTYLES

Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/ cranston-ridge

02 COPPERFIELD PARK BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 MUSKOKA BY BROOKFIELD HOMES 65 Auburn Meadows Way

04 MOSAIC LAKESIDE AUBURN BAY BY BROOKFIELD HOMES

15 LIVINGSTONE TOWNES BY TRICO COMMUNITIES

COPPERFIELD

W ST. 52

AIL

VITT

D TR

McKE

UIS MARQ

116 Quarry Park Way SE

02 11

LEO

Mac

S JAME

EK P ARK

27 Auburn Bay Link SE

1797 Copperfield Blvd SE

GLENMORE TRAIL

ANDERSON ROAD

SHAWNESSY BLVD.

Coming Soon 25 Auburn Meadows Ave SE

11 CHALETS IN COPPERFIELD BY SABAL HOMES

SOUTHLAND DRIVE

FISH

10 CANOE BY AVI URBAN

52 STREET

ELBOW DRI VE GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

MacLEOD TRAIL

ILD

52 Legacy Gate SE

MAHOGANY

07 AUBURN BAY 03 04 10

16 06 08

16 AUBURN BAY BY STONECROFT

Corner of Seton Blvd and Auburn Bay Link SE

17 MOSAIC MIRAGE BY BROOKFIELD HOMES

347 MacKenzie Towne Gate

SETON BLVD.

05 LEGACY STREET TOWNS BY HOMES BY AVI Now Open 42 Legacy Blvd SE

06 ZEN BY AVALON MASTER BUILDER 82 Auburn Bay Link SE

07 AUBURN WALK BY CARDEL LIFESTYLES

Showsuite and Sales Centre Corner of 52nd Street and Auburn Meadows Dr. SE

08 MUSKOKA BY BROOKFIELD HOMES 27 Auburn Bay Link SE

09 BRISTOL TOWNHOMES BY BIRCHWOOD NOW SELLING 232 Quarry Park Blvd. SE

18 THE GATES BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE

19 CHAMPAGNE BY REMINGTON DEVELOPMENTCORPORATION Quarry Park Blvd SE remingtoncorp.com

20 CRANSTON PLACE BY CARDEL LIFESTYLES 302 Cranston Road SE

21 ALTURE MIDCITY BY ALTURE PROPERTIES 15233 1 Street Southeast midcitymidnapore.ca

22 MAHOGANY STREET TOWNS BY HOMES BY AVI 13 Marine Dr SE

23 SYMMETRY AND HARMONY BY STONECROFT 121 Copperpond Common SE

CONDOS FROM THE $140’s www.copperfieldpark.com 403.723.0094 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 31

CONTEMPLATING CONDOMINIUMS

Age-restricted condos for the mature set By Linda Palfi

here the Rolling Stones lead, “baby boomers” will follow as we all grow older, and that could be into an age-restricted condominium development where Generation X-ers are not particularly welcome. Discriminatory? You bet! Allowed by law? Certainly! Fair? Who cares? Seeking peace and quiet, as well as golf and bridge partners, older people these days are often choosing to live in condo homes that do not allow children. In fact, some don’t allow anyone under the age of 50 to live there, and those condo bylaws are as enforceable as any statute passed by government. Come to think of it, condo corporations have pretty well the same provincially bestowed powers as any municipality! Seeing where the demographics and part of the homebuying public is heading, developers have forged ahead to create a variety of age-restricted developments. Most obvious are the “villa” homes, often situated adjacent to golf courses. These are usually duplex-style condominium bungalow homes with all the needed services and covered parking on the main level. If there is a basement, it’s supplementary, and may not be developed. In fact, some buyers never see the basement, as stairs-free living was their goal. There are also apartment-style age-restricted developments. These, too, can come with a range of ages one must achieve before being allowed to reside on site. People younger than the specified age can certainly visit and stay over with Mom and Dad or grandparents, but the bylaws may dictate a limit to how long it is before a “visitor” becomes a prohibited permanent resident. Ironically, younger people may own one of these homes, but may not live on site until they reach the required age. This allows adult children – for estate or tax reasons – to buy or own their parents’ condo home in such a development. The ambiance of age-restricted condo communities is naturally very different from an open-door development, which might be identical in terms of bricks and mortar. If the age restriction is 55 or 60 years, the place is going to be pretty sedate, with similar-aged people likely sharing common interests. If the age restriction is only 18 years or older, there will be a broader mix of retired and working people, but not a tricycle to be seen. Shop the market to find the location, degree of age restriction, and housing style that meets your needs and preferences. For the budget-minded, Calgary also has a selection of long-standing apartment-style buildings that were previously designated as rental developments, but which astute developers converted to condominium homes with an age restriction. The restriction, of course, cannot be imposed on an existing homeowner. The buyer must be aware in advance that s/he is choosing to own a home that has the restriction already in place. In various city neighborhoods, then, we find affordable elevator-served condo buildings that have little noise and offer an organized seniors’ social life, yet are not care facilities in any way. A new addition is the age-restricted denominational condominium community. These can be developed by a church’s charitable foundation,

32 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

and include all housing styles and a mix of urban, suburban and rural locations. While the age restriction is enforceable, one cannot be required to be of a particular faith or to attend a particular church as a residency requirement, although buyers naturally tend to be part of that religious community. These new housing options are modern niche-marketing par excellence. And they allow people to choose the degree of restriction they desire in the mini-community where they make their homes. Our boomer comeuppance will be the creation of the first youths-only community, where a rave is held every night, and over-18s are welcomed only if they leave the Jack Benny records at home, and move on before dark!

Linda Palfi is a condominiumspecialist realtor with Discover Real Estate. She is the chair of her condo board, and a member of the professional standards committee of the Calgary Real Estate Board. Visit CondosInCalgary.com or call 403.998.7732

CHBA AWARDS

2014 SAM Awards FINALISTS ANNOUNCED

he Canadian Home Builders’ Association (CHBA) - Calgary Region is proud to announce the full list of finalists for the 2014 SAM Awards. The SAM Awards, now in its 28th year, celebrates innovation and excellence in the residential construction industry in Calgary and its surrounding region. The winners will receive their awards at the SAM Awards Gala on Sat., April 18, at the Telus Convention Centre. The top five entries in each category will be featured during the evening. “The record number of new construction starts in the Calgary region last year didn’t stop our members from bringing home their best,” says Shane Wenzel, chairman of the SAM committee for CHBA Calgary Region. “Even though the industry was flying, we had an incredible number of excellent entries to this coveted awards competition.” Entries totaled 834 in all categories of new home construction, including renovations, new communities, advertising and marketing, and more. The sales professionals in the field are also recognized.

“This truly is the crème-de-la-crème in an industry that built 17,131 total housing units last year,” says Wenzel. “It’s a tremendous accomplishment to be named a finalist – and everyone is excited to put their best forward in a very competitive industry.” A total of 116 companies are vying for 58 awards in different categories, including the top Grand SAMs – three builder categories (Builder of the Year, Builder of Merit for a small-volume builder, and Multi-Family Builder of the Year), Renovator of the Year, and Partner of the Year. The awards cover 10 different categories and finalists are chosen through a detailed, scrupulous process with industry judges awarding points which are then authenticated by an accounting firm. Grand SAM Awards are presented to the builders, renovator and partner who have demonstrated a superior achievement in design, sales, advertising and/or service. “This competition is the highlight of the year for our members,” says Wayne Copeland, president of CHBA - Calgary Region. “And it’s taken very seriously. It is an incredible achievement to be elite in a very competitive industry where quality and innovation shine in every way. Congratulations to all the finalists and good luck at the SAM Gala.” About the Canadian Home Builders’ Association (CHBA) - Calgary Region The CHBA - Calgary Region is a not-for-profit organization with a membership of more than 660 companies representing all facets of new home construction, from single and multi-family builders, renovators and residential land developers, to trades, suppliers, manufacturers, and professional companies involved in some aspect of home building in Calgary and its surrounding region. More than 42,600 people work in the residential construction industry in the city. The Association’s vision: “We are the respected voice shaping the future of the home building industry.” For more information, visit online at chbacalgary.com. Read on for the full list of finalists. Congratulations, and good luck! NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 33

(Finalists listed in alphabetical order per category)

ADVERTISING & MARKETING AWARDS

Best Brochure

INDUSTRY ACHIEVEMENT AWARDS

Best Billboard

Sponsored by Macdonald Development Corporation

Sponsored by United Drywall Ltd.

Villa 8 Private Residence, Private

• Beyond Homes

• Albi Homes Ltd.

B75 Unit B, Private

Villa 6, 347 Tuscany Estates Rise NW, Calgary

• Beyond Homes

• Albi Homes Ltd.

B75 Unit A, Private

Villa 2, 347 Tuscany Estates Rise NW, Calgary

• Calbridge 2010 Ltd.

• Beyond Homes

The Verve, 49 Fireside Cove, Cochrane

B95, Private

• Millenium Plus Homes M 2424,Private

Sawyer Silverado – 1 Bedroom, 1108, 175 Silverado Blvd SW, Calgary

Best Apartment Style Condo – Two Bedrooms & Up Sponsored by Blanket Home Warranty Ltd.

• Brad Remington Homes (2010) Ltd. Copperfield Park II – A, 1114, 75 Copperpond Blvd SE, Calgary

• Jayman Modus, a division of Jayman BUILT The Elan, 402 Marquis Lane SE, Calgary

• Remington Development Corporation Champagne Suite 502, Private

• Remington Development Corporation Champagne Suite 505, Private

• Remington Development Corporation Champagne Suite 501, Private

36 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

SOUTHEAST

STO N

Cranston Market

CRANBROOK DRIVE SE

TR OOT ERF DE

E CRANSTO N AV E S

CONDO PROFILE

Slate II

MOSAIC RIVERSTONE

presents luxury townhomes along the Bow By Heather Ryan

estled between the dramatic Cranston escarpment and the shores of the picturesque Bow River, Brookfield Residential presents the highly sought-after Mosaic Riverstone, an exclusive enclave of luxury townhomes. “We’ve had a great response to Mosaic Riverstone because it provides an incredible opportunity for buyers to live in one of the most attractive estate communities in the city starting at $454,900 plus GST, so it’s really affordable,” says Ashley Carcasole, Brookfield Residential’s Business Development Manager, Multifamily. “We’re 50 per cent sold and we have a number of people living here already with some homes under construction and some available for immediate possession.”

Comprised of 64 bungalow-style stacked townhomes, Mosaic Riverstone appeals to empty-nesters and right sizers seeking a maintenance-free, lockit-and-leave lifestyle without compromising on the space and luxury they’ve enjoyed in their single-family home. “These are single-level estate bungalows and our buyers love the size, the high-end finishing and living in a community they can enjoy without shoveling snow or mowing the lawn,” Carcasole says. “We’re also right at the bottom of the escarpment and a two-minute walk to the Bow River, so it really places nature at the doorstep of this community.” Mosaic Riverstone presents three floor plans, each with its own double-car attached garage, basements and patios on lower models, and balconies on upper models. Buyers can choose from the Slate II, Olive II or Hunter models that range from 1,426 to 1,661 sq. ft. with either a two- or a three-bedroom layout. All the homes feature a spacious, open-concept design that offers a great entertaining space with large living and dining areas, well-designed kitchens, master bedrooms with inviting ensuites and walk-in closets, and a good-sized laundry room with washer and dryer. Buyers adore the luxury finishes inside that include hardwood and tile floors, nine-ft. ceilings, tiled showers, upgraded lighting packages and kitchens with granite countertops, large islands with breakfast bars, stainless steel appliances, pantry, full-height maple cabinets and tile backsplash. All

38 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

floor plans offer a large storage room in the basement, which some customers are using as a home gym or storage off the garage. Brookfield offers a variety of possession time lines including immediate possession and homes that still provide buyers with the opportunity to personalize and add upgraded options such as quartz countertops and glass tile backsplashes. The exteriors have a stucco finish with stone details to complement the natural landscape of Riverstone. The site itself is located across from a park and is surrounded by greenspace, and the interior area will be professionally landscaped, creating a park-like feel. The homes have also been designed so each offers views of the river valley and itâ€™s an incredible amenity-rich location to live in. Riverstone offers residents a convenient and active lifestyle with the Bow River, Fish Creek Park, and numerous parks and pathways just outside their doorstep. Itâ€™s also in the established community of Cranston, so residents can enjoy amenities including Century Hall, which

The site itself is located across from a park and is surrounded in green space and the interior area will be professionally landscaped creating a parklike feel.

features a 22,000-sq.-ft. facility and seven-acre gated park site in the heart of the community. The location provides Riverstone residents with easy access to Stoney and Deerfoot Trails, and there is a wide range of shops, services and eateries all close at hand. Brookfield is currently offering a special promotion until the end of April, providing buyers with a $10,000 upgraded garage package. Ask your sales representatives for more details.

For more information on Mosaic Riverstone, visit the Slate II and Olive II showhomes, at 96 and 98 Cranbrook Dr. S.E., open Monday to Thursday, 2 to 8 p.m.; and Friday, weekends and holidays, noon to 5 p.m. Call 403.457.5980 or visit livebrookfield.com/Riverstone

Slate II

Hunter

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 39

IN THE NEWS

Calgary – still one of the most affordable housing markets in Canada

he state of Alberta’s housing affordability, while still generally positive, is being overshadowed by the effect of plunging oil prices on confidence in the market, according to the latest Housing Trends and Affordability Report from RBC Economics. The report, on the fourth quarter of 2014, indicates that home resales in the province plummeted during December and January, falling 35 per cent cumulatively following a strong summer and early fall. “We’ve also seen evidence of shaken confidence in Alberta’s housing market on the supply side with listings surging,” says Craig

Wright, senior vice-president and chief economist, RBC. “While we have yet to see this translate into widespread price declines, the earlier strong rate of property appreciation moderated substantially in Q4.” The RBC housing affordability measures, which capture the province’s proportion of pre-tax household income needed to service the costs of owning a home at market values, remained mostly unchanged in the fourth quarter (a decrease in the measure represents an improvement in affordability). RBC’s affordability measures for Alberta were stable for both two-storey homes (33.9 per cent) and condos (20.4), while the measure for detached bungalows eased by 0.4 percentage points to 32.4 per cent. Affordability continued to be fairly attractive from a historical perspective and compared to other provinces. Housing affordability in Calgary actually improved in the fourth quarter of 2014, though cutbacks in the oil industry contributed to a drop in housing market confidence. RBC’s measures for Calgary fell 0.2 percentage points to 20 per cent for condos, 0.4 percentage points to 33.9 per cent for two-storey homes and 0.6 percentage points to 33.7 per cent for bungalows in Q4 2014.

TAKE A PEEK BEHIND OUR BLINDS! Behind every Livingstone Townhome is a fully insulated & drywalled double garage, perfect for keeping your car in style. But it’s not just your car we’re spoiling; these townhomes come fully loaded. Our designers have gone above and beyond; laminate flooring throughout the main floor, a stainless steel appliance package and tons of gorgeous interior selections that don’t come standard with any other home. And these turnkey homes include deck, fence & landscaping, all in a quiet location and they’re ready to move right in!

Starting From The

360’

Plus GST

NO CONDO FEES *Rendering is artist’s concept only and may be subject to change. Prices subject to change without notice. E.&.O.E.

This is the opportunity you’ve been waiting for. You CAN have it all.

VISIT OUR SALES CENTRE AT 52 LEGACY GATE SE • 403.460.7930 • livingstone@tricohomes.com 40 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

DATE:

F I L E

N A M E S

A R E

F O R

I N T E R N A L

U S E

O N LY

SOUTHEAST

2 Car parking pad or garage

Rear deck/ patio

Landscaped private yard Granite or quartz kitchen countertops

Sunset Ridge | from the $340s COCHRANE

Legacy | from the $350s Mahogany | from the $390s

Laminate flooring

SOUTHEAST

MORTGAGE ADVICE

60% SOLD OUT

Mortgage math By Alyssa Richard

THE

MORELLO 2 BEDROOM CONDOS

starting from the $350’s (plus GST) Lake Midnapore Access Upscale Finishing Open Floor Plan

15207 1st SE in Midnapore

403.554.3035 TheMorello.ca (prices subject to change) 42 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

n buying a home, your first step is to get pre-approved for a mortgage. The amount of your approval is the absolute maximum a bank or mortgage broker would be willing to give you – and the mortgage payment at that top price is often outside of people’s comfort zones. To ensure you’re not strapped for cash, buy at a lower price point. Your budget will thank you when interest rates rise. Economists have said an interest rate hike was on the horizon for years, but indications are that it could happen in 2015 (despite the recent drop). Since our economy follows that of the U.S., the Bank of Canada will watch the Federal Reserve and go from there. It’s predicted that our prime rate could rise as much as 1.25 to 1.50 per cent, though, which would affect anyone who had a loan attached to prime. If you’re thinking of taking advantage of a low variable mortgage rate this year, you should first run the numbers to see if you could afford this potential increase. According to the Canadian Real Estate Association, the average home price in Canada is slightly more than $413,000. If you were to make a 20-per-cent down payment with a five-year variable mortgage rate of, 2.09 per cent, your monthly mortgage payment would be $1,413. If the prime rate were to rise by 1.50 per cent, your mortgage rate would increase from 2.09 to 3.59 per cent, and your monthly mortgage payment would go up to $1,665. That’s $252 more per month, or an extra $3,024 per year, that you’d need to find in your budget. Imagine how difficult that money would be to come up with if you’d already purchased something at the top of your max budget. Even if an mortgage rate increase weren’t on the horizon, I always recommend that homebuyers stress-test their mortgage against a higher rate before they buy. A good rule of thumb is this: if you can’t afford a two-per-cent interest rate hike, you may want to look at a home within a more appropriate price range.

Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

T S E B S T I T A G N I V I L E D I LAKES

LAKE COMMUNITY OF MIDNAPORE WALKING DISTANCE TO LAKE, FISH CREEK PARK, SHOPPING & C-TRAIN CONTEMPORARY 1 & 2 BEDROOMS UNDERGROUND PARKING AND STORAGE LOCKER WITH EVERY UNIT

75%

PRICING STARTING AT

199,000

SOLD $

MIDCITYMIDNAPORE.CA

PET FRIENDLY

UNDER CONSTRUCTION MOVE IN FALL 2015!

403.800.9189

STA

N NG OW S FRO ELL M T ING HE MID $

RTI

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20 0

6 AVE N

GREYHOUND BUS TERMINAL

23 AVE S

26 AVE S

Own a new local landmark overlooking the sparkling Calgary skyline and iconic Central Memorial Park. Amazing amenities include a beautiful Zen Terrace, outdoor kitchen with fire pit, indoor social lounge with kitchen and cozy fireplace, and fully equipped fitness spaces. These amenities are not an afterthought – they are front and central to living well. CALGARY · PARKSIDE LIVING ON CENTRAL MEMORIAL PARK

2ND ST SW

NOW SELLING · VISIT OUR DISCOVERY CENTRE TODAY 301 11TH AVE SW · OPEN DAILY 12 – 5PM, EXCEPT FRIDAYS · 403 244 2428

12TH AVE SW CENTRAL PARK 44

QUALEX.CA/PARKPOINT Another original by

Artist rendering only. TM denotes one or more trade-marks of Qualex-Landmark Management Inc. used under license by Qualex-Landmark Union Inc. This is not an offering for sale. E.&O.E.

INNER CITY

11 SOBOW BY M2I DEVELOPMENTS CORPORATION 1640 17A St.

RILEY PARK

6 AVE N

5 AVE N

VE 4A

12 KENSINGTON BY BUCCI

V 2A

SUNNYSIDE 20 STATION

ROTARY PARK

PRINCE’S ISLAND PARK

301 10th St. NW

13 FIRST BY FRAM + SLOKKER

EAU CLAIRE04 MARKET

East Village Experience Centre 553 Riverfront Ave. SE

14 AVLI ON ATLANTIC BY RED MANAGEMENT

1220 9th Ave.

4 AVE S

16 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN.

13 18

5 AVE S 6 AVE S

REYHOUND US TERMINAL

MILLENNIUM PARK

Sales Centre 921 - 1st Ave. NE

19 CONVENTION CENTRE

9 AVE S

MOUNT ROYAL VILLAGE

26 AVE S

TALISMAN SPORTS CENTRE

10 ST W

PROSPECT AVE

26 AVE S

21 V&V BY PROVIDENCE GROUP

04 WATERFRONT BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

05 THE GUARDIAN BY HON TOWERS

12th Ave SE at 3rd St.

Sales Centre 1120 Kensington Rd

07 SMITH BY GROSVENOR

43park.ca

Sales Centre Now Open in East Village

ERLTON / STAMPEDE STATION

02 PARK POINT BY QUALEX-LANDMARK

03 43 PARK BY VERICON REAL ESTATE VENTURES

19 VERVE BY FRAM + SLOKKER

20 LIDO BY BATTISTELLA

06 AVENUE BY GROSVENOR & CRESSEY

Coming Soon Register now at Qualex.ca/ ParkPoint

916 Memorial Drive

18 EVOLUTION BY EMBASSY BOSA INC.

CALGARY EXIBITION AND STAMPEDE PARK

01 RIVERFRONT POINTE BY CARLISLE GROUP

101 Riverfront Avenue S.E.

East Village Experience Centre 553 Riverfront Ave. SE

VICTORIA PARK / STAMPEDE STATION

4 ST W

5 ST W

CLIFF ST

17 AVE S

23 AVE S

1 ST E

COLONEL BELCHER HOSPITAL

OLYMPIC WY

MACLEOD TR

1 ST W

2 ST W

11 AVE S

4 ST W

5 ST W

8 ST W

10 ST W

12 AVE S

17 916 BY SABLE DEVELOPMENTS

FORT CALGARY

CITY HALL

22 ALEX BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

1035 5th Ave. SW

23 MISSION 34 BY ASSURED COMMUNITIES

Visit Sales Centre at 850-16th Ave. SW, 2nd Floor

08 DISTRICT BY BOULEVARD INVESTMENTS Sales Centre Now Open 305 18th Ave. SW

98 Mission Road SW mission34.ca

25 BRIDGELAND HILL BY GABLECRAFT HOMES 516 Edmonton Tr. NE

09 LiFFT BY VERICON REAL ESTATE VENTURES

Coming soon to Renfrew-Bridgeland liveLiFFT.com

10 BRIDGELAND CROSSINGS BY GABLECRAFT HOMES bridgelandcrossings.ca

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 45

SALES LAUNCH EVENT ApriL 26 bY INVITATION ONLY. REGISTER AT EmeraldSky.ca

CONCRETE & STEEL CONSTRUCTION FOR THE INTELLIGENT PURCHASER

QuiET, MOdERn & ulTRa cOMFORTaBlE

sTandaRd GRaniTE cOunTERTOps & sTainlEss sTEEl appliancEs

MasTER plannEd uRBan VillaGE dEsiGn

indOOR HEaTEd paRKinG (some with direct access) cOMMandinG lOcaTiOn WiTH sTunninG ViEWs

ALBERTA’S BUILDER ALBERTA’S #1 CONDO BUILDER

MAYBEIT’S IT’S BECAUSE BECAUSE WE’RE SO EAGER MAYBE EAGERTO TOPLEASE PLEASE

FROM THE

$180’s

KINCORA GLEN ROAD NW

NS RD. MO Y SY LLE VA

37TH ST.

ARTIST’S RENDERING ONLY

STONEY TRAIL NW

SaleS Centre HourS: Mon.-thurs. 2-7 pm Saturday & Sundays 12-5 pm • Closed Fridays

403.460.2510

SALES LAUNCH EVENT ApriL 26 bY INVITATION ONLY. REGISTER AT LegacyGate.ca

ALBERTA’S #1 CONDO BUILDER

MAYBE IT’S BECAUSE WE’RE SO EAGER TO PLEASE

South Calgary’s Most Desirable Location CONSTRUCTION STARTED

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$140’s YOU QUALIFY WITH A HOUSEHOLD INCOME OF

FEATURING • Choice of 4 professionally designed interior finishing packages

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• 5 appliance package • Spacious patio or deck • Hardieboard fibre cement siding • Secure titled heated underground parking

MARQUIS OF LORNE TRAIL SE (22X)

$688

MONThLy*

ASk AbOUT OUR EASY DOWN PAYMENT PLAN!

ARTIST’S RENDERING ONLY

*OAC based on 5% deposit, 3.19% interest amortized over 25 years.

SALES CENTRE LOCATED AT 210 AVE SE, CALGARy

210 AVENUE SE LEGACY BLVD SE

IL RA DT EO CL MA

SALES CENTRE HOURS: Mon - Thurs 2-8 pm Saturday, Sunday & Holidays 12- 5 pm

403.460.5206

NOW SELLING IN 5 LOCATIONS

ALBERT PARK: ShOW SuITE OPEN AIRDRIE: ShOW SuITE OPEN KINCORA EMERALD SKy: SALES LAuNCh DATE APRIL 26

FOR MORE INFORMATION VISIT:

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LEGACy: SALES LAuNCh DATE APRIL 26 COChRANE: By APPOINTMENT ONLy EDMONTON: IN MANY LOCATIONS

MAKE YOUR MOVE

Make way for spring By Hellen Buttigieg, Certified Professional Organizer, WeOrganizeU.com

t first, you were afraid to put away the winter gear because it was impossible to believe that unrelenting, snow-filled season was really over. But as spring slowly slides into place, you’re finding your hall closet is bursting at the seams trying to contain the collection of everything from mitts and snow boots to umbrellas to Wellies. Make some space for your spring and summer, and don’t give Jack Frost another thought. Make room for spring. Although there’s never enough storage space, there are creative ways to store out-of-season items. Add another shelf above the existing one in all the closets, and purchase under-the-bed organizers. If your bed is not high enough, you can get a bed riser to lift it. Jump-start your spring cleaning with baby steps. If you don’t know where to begin when it comes to spring-cleaning your home, start small. Pick just one room. Moving clockwise, remove anything that doesn’t belong in that room and place it in a “move elsewhere” box to deliver to the room it should live in. Pull out anything that doesn’t give you joy or value and place it in a giveaway box. Toss or recycle any papers and garbage that are left over. Designate this room as a “no-clutter zone” so you will always have a sanctuary to escape to, regardless of what the rest of the house looks like.

48 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

Have you stored your parka? If you’ve been putting off the task of storing your winter coats because you don’t have an extra closet, there’s a solution. A sturdy, rolling garment rack makes an ideal spot to store winter coats during the summer. Dry-clean all items before storing, even if they look clean. Body oils and invisible food stains attract moths – especially on wool coats. Cover the clothes with a clean, cotton bed sheet or use a zippered canvas wardrobe cover specifically designed for this purpose to keep your clothes dust-free. If you don’t have room for a garment rack, store seasonal items in large garment bags, suitcases or under-bed storage bins.

INNER CITY

CON UND STR ER UCT ION

“Let me get

that for you.” Welcome to Smith: a boutique collection of homes in the Beltline with an on-duty concierge who signs for packages, lets friends into your home and finds countless other ways to make life easier. Add in a stylish home built by Grosvenor, a world leader in crafting special homes, and suddenly, deciding why to buy just got easier too.

HOMES BELOW $300,000 STILL AVAILABLE.

15 AVE SW

17 AVE SW

6 ST SW

16 AVE SW

7 ST SW

Presentation Centre 2nd Floor 850 16th Ave SW M–Wed 12–6pm. S+S 12–5pm Closed Thursday & Friday 403.264.1703 smith17.com

8 ST SW

NOW SELLING:

THE BELTLINE

Living cities

This is not an offering for sale. Such offering can only be made with a disclosure statement. E.& O.E.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 51

IS THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PART 1)

If you’ve never heard of the International Monetary Fund (IMF) just Google “Canadian Housing Market” and look for the red ink. Since the beginning of 2015, this global economic think tank has become a well-quoted commentator of our housing market with headlines that often include “overvalued” and “overheated.” At Intelligence House, we wonder if the IMF could be “over concerned.”

Whether or not our central bank is as concerned about the IMF’s view on Canadian household debt depends on where you get your news, however, it is something they definitely monitor. It does seem counter intuitive for public policy makers to lower interest rates to encourage borrowing, only to be disappointed once people do. After all, the demand for loans works like the demand for all things: when the cost of borrowing is low, people borrow more.

In a nutshell, the IMF fears that lengthy periods of low interest lending has allowed too many Canadians to assume debt levels that they would not be able to afford in a higher interest environment. They further warn that a portion of Canadian homeowners will be forced to sell their homes to avoid mortgage default once interest rates inevitably rise. This portion of homeowners could be sufficiently large to spur a downward correction in our housing prices.

At the end of the day, increasing debt is not a sign of weakening household finances, especially when interest rates are low or falling. What counts, or what should count, is how they are investing and servicing this debt.

Statistics on Canadian household debt are often quoted alongside this IMF warning. Earlier in March, Statistics Canada reported that debt-to-disposable income levels ended 2014 at 163%; up significantly from the 130% experienced prior to the Bank of Canada’s initial lowering of the interest rate in 2008.

As the IMF has kindly pointed out, Canadians have been using much of their new debt to invest in housing. In fact, mortgage debt accounts for 66% of all consumer debt and is the majority of our most recent experienced growth in total national debt levels. So is this really a bad thing? More on this next time…

Intelligence House is Edmonton’s newest and most innovative Real Estate Marketing Agency with a focus on strategic market intelligence which includes full research, marketing and sales services to the real estate industry.

52 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield

CO N UN STR DE UC RW TI AY ON

LUXURY BEGINS AT THE DOOR

Begin your Avenue experience with a greeting from your concierge at the porte cochere – a five-star entryway that creates an unforgettable arrival for you and your guests. From there, the luxury continues within the grand reception with its soaring ceilings and statement chandelier, a finely appointed lounge, connecting sky bridges and state-of-the-art gym. At Avenue, you can leave to travel the world and then return to a secure home that offers the same sophisticated living experience as the boutique hotels abroad.

ONE BEDROOM HOMES STARTING FROM $374,900 TWO BEDROOM HOMES STARTING FROM $571,900 PRESENTATION CENTRE: 1037 5th Avenue, SW, Calgary

10 ST SW

5th AVE SW

Monday–Wednesday: 12pm–5pm Saturday & Sunday: 12pm–5pm Closed Thursdays & Fridays

403-530-8455

This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E.

AVENUEWESTEND.COM 53

LOOKING FOR A NEW HOME?

Itâ€™s only a tap away.

Find the perfect new home or condo in the neighbourhood that fits your lifestyle. Start searching now!

DOWNLOAD THE APP

GET STARTED NOW AT

NewHomeAndCondoGuide.ca

NORTHRIDGE DR

CALGARY

OKOTOKS SHEEP RIVER

SOUTHRIDGE DR

BIG ROCK TR

WESTRIDGE DR

ZEN Okotoks CG 20150320.indd 1

24/3/15 10:22:09

22 20

10 12 15

13 14

24 Sunset Rd. Cochrane, Alberta

21 THE WHITNEY BY LANDMARK HOMES

03 01 COCHRANE 08

20 SUNSET BY JAYMAN INNOVATIONS

AIRDRIE 04

211 & 215 Fireside Parkway Cochrane, AB

AIRDRIE 09 CREEKSIDE VILLAGE STRATHMORE BY CARLISLE GROUP

8th & MacKenzie Way

1 Airdrie, Alberta

CALGARY

CHESTERMERE

797 LANGDON

22X

BLACK DIAMOND

22X

546

TURNER VALLEY

543

01 TOWNHOMES AT JUMPING POUND RIDGE BY SLOKKER CANADA WEST

12 RAVENSWOOD TOWNHOMES BY SLOKKER CANADA WEST 2802 Kings Heights Gate

13 BROOKSIDE AT BAYSPRINGS BY MERGE DEVELOPMENTS

Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com

Sales Centre on George Fox Trail just past Jumping Pound Terrace www.slokker-west.ca

02 HEARTLAND TOWNHOMES BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

03 THE RISE BY JAYMAN MODUS

06 THE VILLAGE BY CALBRIDGE HOMES

04 SUNSET RIDGE STREET TOWNS BY HOMES BY AVI

07 RIVERREACH VILLAS & MANORS BY JAYMAN MASTERBUILT

501 Riverheights Dr. Cochrane, AB

36 Sun Valley Road Cochrane, Alberta

05 STONE CREEK LANDING BY CARLISLE GROUP 103 - 5th Avenue, West, Cochrane, Alberta

1225 King’s Heights Way SE Airdrie, Alberta

604 East Lake Blvd N.E. Airdrie, Alberta

HIGH RIVER

COCHRANE

10 STONEKEEP AT KING’S HEIGHTS TOWNHOMES BY MERGE DEVELOPMENTS 11 THE EDGE BY STREETSIDE DEVELOPMENTS

OKOTOKS

NORTHRIDGE DR

:22:09

CALGARY’S SATELLITE COMMUNITIES

3102-15 Sunset Square Cochrane, Alberta

13 Riviera Way Cochrane, Alberta

08 THE RANGE BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta

14 HEARTLAND TOWNHOMES BY EXCEL HOMES 101 Hillcrest Dr. SW

LETHBRIDGE Airdrie

15 ZEN RAVENSWOOD BY AVALON MASTERBUILDER

Coming Soon Register: www.zenravenswood.com

17 ZEN OKOTOKS BY AVALON MASTERBUILDER

www.zeninbalance.com

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 57

MAKE YOUR MOVE

A cleaner and Greener move By Chuck Resnick, vice-president, Two Men and a Truck – Canada

rotecting the environment is an important concern for consumers and businesses alike, but many don’t realize that moving can have a positive impact on the environment. Waste caused by the moving process not only stems from packing supplies, but also from the waste accumulated over many years within a home. Both sources can be taxing on the environment if not properly managed. Here are some suggestions to make your move a cleaner, Greener process.

#1 – Plan ahead: Waiting until the last minute to prepare for a move often makes environmental concerns an afterthought. Start early so you have the extra time to sort through recyclable, reusable or donatable items, rather than see them end up in a land fill site. #2 – Research: Survey local recycling options to find the most convenient solution for recyclables. Many cities offer curb-side pick-up or “sort and drop” depots. Check with your municipality for details. #3 – Organize: Sort your recyclables by category: plastic, glass, aluminum, paper, cardboard, etc. Look up the requirements of the local recycler to see if there are additional steps needed to prepare recyclables beforehand.

#4 – Hazardous material: Toxic items like paint, batteries, cleaning products, automobile oils, pesticides and fertilizers are dangerous and cannot be transported in the back of a commercial moving truck. Also consider these items cannot be thrown-out with your regular garbage. Look up the specialized recycling depots for toxic products. #5 – Reuse: Do not throw away used boxes when the move is complete. A well-made corrugated box is great for storage or may be reused for a future move. Contact local schools or charity organizations, such as women’s shelters, scout troops, and food banks to ask if they need boxes to redistribute donated items.

SIZE matters.

With almost 1700 sq ft, Brookside townhomes are shockingly big. You get massive floorplans, private fenced yards, double garages and more room to grow - a lot more room. For details, head west on Yankee Valley Blvd to 24th Street in Airdrie or visit brooksideatbaysprings.com

Showhome Grand Opening on now! Townhomes starting from the mid $300s.

Own a townhome with an attached garage from the $230s. For details visit stonekeep.ca 58 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

ZenR

ZenRavens CG20150320.indd 1

19/3/15 16:12:56

nothing in cochrane compares to our price not available in calgary AT ANY PRICE

AND

GET 2.49% JAYMAN FINANCIAL

*Optional basement development not included. â€ Some conditions apply. 3 year fixed rate and based on 25 year amortization. Rates are subject to change without notice. Clients may have to qualify at a higher rate. O.A.C., E. & O. E. Effective February 27, 2015.

METIS TRAIL

NORTHEAST COMMUNITIES

52 STREET

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET 12 AVENUE

Coming Soon www.arrivehome.ca

13 V&V BY PROVIDENCE GROUP

IVE

Now Open Register: einsteincalgary.com

36 STREET

17 Ave

52 STREET

BLACKFOOT TRAIL

ELBOW DR IVE

07 ARRIVE AT SKYVIEW RANCH ARBOURS BY PARTNERS DEVELOPMENT GROUP

IAL DR

R MEMO

02 43 PARK BY VERICON REAL ESTATE VENTURES

MacLEOD TRAIL

43park.ca

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

114 AVE SE

OOT T RA

W BO

NEW BRIGHTON

AIL

D TR

VITT

McKE

LEO

Mac

S JAME

IL TRA

EK P ARK

TTO BO

CRE

SHAWNESSY BLVD.

104 Redstone View (off Redstone Way)

16 AVENUE

SOUTHLAND DRIVE

FISH

06 ARRIVE AT REDSTONE BY PARTNERS DEVELOPMENT GROUP

17 Ave

GLENMORE RESERVOIR

Coming Summer 2015 Register: jayman.com/harana

64 Ave

32 Ave

03 04 MEMO 02 01 RIAL D RIVE

Coming Soon bridgelandcrossings.com

05 HARANA TOWNHOMES BY JAYMAN MODUS

80 Ave

MCKNIGHT BLVD.

16 AVENUE

01 BRIDGELAND CROSSINGS BY APEX CITY HOMES

Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

84 STREET

14 STREET

04 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN.

68 STREET

CRI J OW OHN CH L ILD AUR IE TR BLV AIL D

Sales Centre #701, 7th Ave. NE livelifft.com

SADDLETREE DR.

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

TR A

05 128 NE Ave

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

03 LiFFT BY VERICON REAL ESTATE VENTURES

STONEY TRAIL 06 07

MARQ

CHAPARRAL CRANSTON

AIL

NE TR

LOR IS OF

COPPERFIELD

ABURN BAY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 61

HOME SWEET HOME

Lower lending rates could spell trouble for overextended Canadians By Lydia McNutt

he mortgage rate war is back on with Bank of Montreal’s recent announcement that it is dropping the rate on its five-year, fixed-rate mortgage to 2.79 per cent, and TD Bank following suit. This, just in time for the busy spring real estate market, which is already highly competitive among buyers, sellers and lenders alike. This rate drop will make it easier for some homebuyers to get into the market. But how long can these low rates last, and what will happen to overextended Canadians when rates eventually rise? This most recent rate cut was preceded by one in January, when the big banks dropped their lending rates after the Bank of Canada lowered its key rate by 1/4 per cent to 0.75 per cent in an effort to shield highly indebted Canadians from the drop in oil prices and its economic impact, said Alyssa Richard, founder and CEO of RateHub.ca. Then during its latest rate announcement, the Bank held its rate at 0.75 per cent for fears of Canadians taking on more debt than they can handle. Echoing that sentiment, the International Monetary Fund has warned of Canada’s overheated housing market in the face of lower oil prices and increasing levels of household debt. Indeed, a recent report by Statistics Canada shows household debt increased by 1.1 per cent in the fourth quarter of 2014. “For the third consecutive quarter, disposable income increased at a slower rate than household credit market debt. As a result, leverage, as measured by household credit market debt to disposable income, reached a new high of 163.3 per cent in the fourth quarter.” In other words, households held roughly $1.63 of debt for every dollar of disposable income. The fear is that with even lower lending rates, Canadians see this as their chance to take on more debt. Any bumps in the economy – as we’ve seen with our oil prices – can have a far-reaching ripple effect and for those on an already overextended budget, big waves. “The banks are right to be concerned... that’s what happens in low interest rate environments,” Richard says. “Take this rate cut for what it’s really worth: a chance to pay down your current debt sooner.” “Given long-term interest rates are close to all-time lows and the recent market uncertainty, there are some benefits to locking in to a fixed-rate mortgage,” Doug Porter, chief economist, BMO Financial Group, said. “Combined with a shorter, 25-year amortization period, such a step would significantly dampen widespread concerns about the vulnerability of household finances.”

62 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

“The banks are right to be concerned... that’s what happens in low interest rate environments,” Richard says. “Take this rate cut for what it’s really worth: a chance to pay down your current debt sooner.”

Lydia McNutt is an award-winning writer and editor of New Condo Guide. Lydia’s love of architecture, interior design and the written word have landed her happily at home at Yellow Pages NextHome, where real estate rules. Email Lydia.McNutt@ypnexthome.ca, and follow her on Twitter @LydiasTweets

HOMEBUYERS’ HELP

condo buyers’ resource section YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Compare mortgage rates for your best deal Calculate your mortgage payments

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 63

HOMEBUYERS’ HELP

You love the condo, see what you can afford!

INTEREST RATES

Calculate your mortgage payments

Amortization Periods

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

3.00

17.96

9.65

6.91

5.54

4.73

3.25

18.07

9.76

7.02

5.66

4.86

3.50

18.18

9.88

7.14

5.79

4.99

3.75

18.29

9.99

7.26

5.91

5.13

4.00

18.40

10.41

7.38

6.04

5.26

4.25

18.51

10.23

7.50

6.17

5.40

4.50

18.62

10.34

7.63

6.30

5.53

4.75

18.72

10.46

7.75

6.44

5.67

5.00

18.85

10.59

7.89

6.58

5.82

5.25

18.97

10.71

8.01

6.71

5.96

5.50

19.08

10.83

8.14

6.85

6.11

5.75

19.19

10.95

8.27

6.99

6.26

6.00

19.30

11.07

8.40

7.13

6.40

6.25

19.42

11.19

8.54

7.27

6.55

6.50

19.53

11.32

8.67

7.41

6.70

6.75

19.64

11.44

8.80

7.55

6.86

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE BY THREE

AFFORDABLE MONTHLY PAYMENTS DIVIDED BY 12

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly beforetax income of you and your spouse. 02 Divide by three. This figure is the monthly payment you can afford to make on your condo. 03 Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow. 04 Refer to the chart above. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)

64 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

05 Multiply this figure by the amount you need to borrow. Divide by 1,000. 06 Add to this your estimated monthly heating costs and monthly property taxes. 07 If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo. Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

Compare mortgage rates for your best deal 4 YEARS

5 YEARS

ATB Financial

VARIABLE

2.350

6 MONTHS

4.000

1 YEAR

2.940

2 YEARS

2.640

3 YEARS

2.640

2.740

2.840

Bank of Montreal (BMO)

2.850

4.000

2.890

2.840

3.390

3.890

4.740

Bank of Nova Scotia

2.850

4.550

3.290

3.090

3.390

3.890

4.490

CIBC Mortgages

2.850

4.450

2.890

2.840

3.550

4.140

4.790

Canadian Western Bank

3.050

4.000

3.140

3.040

3.650

4.200

4.790

Canadian Western Trust

3.050

4.000

3.140

3.040

3.650

4.200

4.790

Effort Trust

4.450

3.450

3.600

3.700

4.600

4.950

Equitable Bank

3.140

3.700

4.440

4.740

First Calgary Financial

4.000

2.890

2.990

3.090

3.190

First National Financial

2.850

3.950

2.990

2.590

2.690

2.790

2.890

Home Trust Company

2.500

3.950

2.890

2.440

2.590

2.790

ICICI Bank Canada

3.050

3.150

3.650

3.640

3.690

Investors Group Trust

2.850

4.200

3.140

3.090

3.750

4.390

4.790

Laurentian Bank Canada

2.850

4.400

2.890

2.840

3.390

3.890

4.740

London Life

2.850

4.200

3.140

3.090

3.750

4.390

4.790

Manulife Bank

2.550

4.450

3.000

3.040

2.940

2.990

4.450

3.000

3.040

2.940

2.990

2.650

4.000

3.090

3.550

3.290

2.890

Manulife Trust Meridian Credit Union National Bank

2.850

4.400

2.890

2.840

3.390

3.890

4.740

Ontario Civil Service CU

3.000

6.000

3.090

3.040

3.500

3.040

3.290

President’s Choice Fin’l

2.850

6.190

3.190

2.840

3.490

4.040

4.440

Royal Bank of Canada

2.850

3.140

3.700

4.440

4.740

Servus Credit Union

4.000

2.890

2.840

3.390

3.890

4.740

Steinbach Credit Union

2.650

2.750

2.850

2.900

2.950

T-D Mortgage

2.850

3.140

2.890

2.840

3.390

3.890

4.740

Tangerine

3.000

3.190

3.240

3.490

3.690

3.790

Windsor Family C.U.

4.450

3.140

3.750

3.950

3.790

Your Neighbourhood C.U.

2.990

3.000

3.190

3.300

3.190

Rates are subject to change without notice.

Mortgage options You can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs.

All mortgages are of two basic types: CONVENTIONAL

OPEN MORTGAGE

INSURED OR HIGH-RATIO

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty. Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less. The down payment can be as low as five per cent.

This usually has the lowest interest rate available but lacks the flexible features of other mortgage options.

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less. Buyer has to pay 25 per cent down. A conventional mortgage cannot exceed 75 per cent of the value of the property.

CLOSED MORTGAGE

It’s a good choice for those who want the security of knowing their monthly payment is fixed for a longer term. Prepayment options are available but they are subject to conditions.

PORTABLE MORTGAGE Offers flexibility if borrowers move. Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home. This is an attractive option if the rate on the existing mortgage is lower than current rates.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 65

INDEX OF ADVERTISERS

READ MORE ABOUT OUR ADVERTISERS! Albert Park Station

Carlisle Group

46-47

Alture MidCity

Altoure Developments

Arrive at Evanston

Partners Developments

Avenue

Grosvenor

Canoe

Avi Urban

Champagne

Remington Development Corp.

Copperfield Park III

Brad Remington Homes

Creekside Village

Carlisle Group

Edison

Avi Urban

Emerald Sky

Carlise Group

68 46-47 33 46-47

Ezra

Birchwood Properties

The Gates

Remington Development Corp.

The Guardian

Hon Towers ltd.

Heartland Townhomes

Excel Homes

Hunter House

Streetside Developments

Jumping Pound Ridge

Slokker West

LIDO

Battistella

LiFFT

Vericon

Livingstone

Trico Developments

Max

Assured Developments

Morrison Homes

7 48

25-27 16

Mosaic Riverstone

Brookfield Residential

The Morello

37-39 42

Nolan Park

Cardel Lifestyles

Park Point

Qualex Landmark

Riverfront Pointe

Carlisle Group

RiverReach

Jayman MasterBUILT

Scollen House

1,3,11-13 44 46-47 60 55

Smith

Grosvenor

StreetTowns

Homes by Avi

41 58

Stonekeep

Merge Developments

The Timbers

GableCraft Homes

V&V

Providence Developments

4 50

Viridian

Trico Homes

Vivace

Streetside Developments

Waterfront

Anthem Properties

Watermark

MacDonald Developments

Willow

Avi Urban

Zen

Avalon Master Builder

Zen Ravenswood

Avalon Master Builder

Jayman Group of Companies

PULLOUT INSERT

Avira, Ebony, Overture, The Rise, Trinity & Carnaby Heights

66 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca

nEw PhaSE with mountain viEwS!

Sales Centre: 755 Copperpond Blvd. SE | 403.723.0094 2:00-8:00pm Monday-Thursday |12:00-5:00pm Sat-Sun/Holidays

www.copperfieldpark.com

MAP IT!

CondoS from thE mid $100â€™S