Calgary New Communities - Spring 2015

Calgary & Area

INSIDE THIS ISSUE

WHY ALBERTA WILL SURVIVE THE ‘OIL CRISIS’ OF 2015

SPRING 2015 | VOLUME 6 ISSUE 1

THE BENEFITS OF BUYING A NEW HOME IN CALGARY

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QUALICOCOMMUNITIES.COM

SPRING 2015 | VOLUME 6 ISSUE 1

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THE BENEFITS OF BUYING A NEW HOME IN CALGARY

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contents

SPRING 2015 VOLUME 6 ISSUE 01

10 Calgary & Area

SPRING 2015 | VOLUME 6 ISSUE 1

FREE

features 016 The Homebuying Process

The financial side of the homebuying process

by DONNA MOORE

024 Mattamy Homes celebrates a milestone in its newest community of Southwinds in Airdrie INSIDE THIS ISSUE

WHY ALBERTA WILL SURVIVE THE ‘OIL CRISIS’ OF 2015

THE BENEFITS OF BUYING A NEW HOME IN CALGARY

4 on the cover

026 In the News Calgary housing outlook: solid growth still on the horizon

by WAYNE KARL

040 Calgaryism

Qualico Communities

Why should you consider buying a new home versus resale?

We create what we believe in

by CODY BATTERSHILL

046 In the News Calgary – still one of the most affordable markets in Canada

by WAYNE KARL

050 Mortgage Mogul Do you have the right people on your team of advisors?

by JASON ELDRIDGE

054 In the News Why Alberta will survive the ‘oil crisis’ of 2015

by WAYNE KARL

060 Outdoors Landscape living

by BRAD JACKMAN

063 Homebuyers’ Resource Section Mortgage calculator and rate table

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PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Tammy Leung EDITOR

Wayne Karl CONTRIBUTING EDITORS

Sara Duck Elisa Krovblit Lydia McNutt

PRODUCTION MANAGER

Bala Gnanapandithan GRAPHIC DESIGNERS

Greg Van Sluytman Viosa Barileva Miguel Cea

community profiles

54

010 Watermark at Bearspaw Macdonald Development Corp.

013 Nolan Hill United Communities 021 Bayside Pier II Genesis Land Development

PRODUCTION CO-ORDINATOR

Greg Van Sluytman

047 Walden Genstar Developments 057 Drake Landing United Communities

019 AIRDRIE MAP 029 SOUTHWEST MAP 030 EAST CALGARY REGION MAP 035 INNER CITY MAP

Follow us on twitter at Twitter.com/melgowans Like us on facebook; facebook/CalgaryNHG

Natalie Houghton 587.226.1313

036 The Guardian Hon Developments

009 NORTHWEST MAP

403.200.8462

MEDIA CONSULTANT

031 The Ranch United Communities

district maps

SENIOR MEDIA ADVISOR

Melanie Gowans

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Calgary & Area New Communities is published two times per year. 2891 Sunridge 7K7. Tel 587.226.1313. The magazine is free to the public. 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.

039 COCHRANE MAP 043 SOUTHEAST MAP 051 NORTHEAST MAP 053 OKOTOKS MAP 062 SOUTH CALGARY REGION MAP

Published by

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Editor’s Note

I

Been there, done that Calgary knows how to weather these ‘storms’

n the Fall 2014 edition of Calgary & Area New Communities, we wrote that few real estate markets in Canada have as much going for it as Calgary. A booming economy, growing population, job and wage growth – and how most cities in the country would love to boast such characteristics.

Here we are six months or so later, and while some of the “boom” may be off the rose, the sky is hardly falling on the housing market in Calgary or the 5 Sherwood rest of Alberta.

Showhomes: 1228 Sherwood Blvd.

True, the recent slide in oil prices has caused Developer: Genesis Development Corp some prospective homebuyers to hesitate, and Builders: Majestic Homes even some homeowners to sell in a panic. But if6 Beacon Heights you’ve lived in Calgary for the last several years, Showhomes: Sherwood Crescent NW Developer: Intergulf Cidex you likely know that this is not the first slowdown Builders: Trico Homes/Intergulf Cidex the market has experienced.

7 Tuscany Hillside Estates Indeed, market conditions last year were so Showhomes: Tuscany Estates Rise NW Developer: Carma strong, that they contributed to a booming real Builders: Landmark Homes | Albi Hom estate sector – including record housing starts. It Kincora 8 would be impossible to sustain such a spectacular Showhomes: 115 Kinkora Glen Rd. NW performance. A number of stories in this issue put Developer: Genesis Land Development Apex Developments these developments into perspective, and provide Builders: Evolution Homes | Majestic H some insight into what you might be able to expect Excel Homes | Centrex Home from Calgary in 2015.

For all its current challenges, Calgary remains one of the most affordable markets in all of Canada. Add to that the likelihood of continuing low mortgage rates, and the quality and variety of new home options on offer from Calgary and area builders, and you have the characteristics that make buying a new home here a excellent opportunity – still.

Wayne Karl Editor, Yellow Pages NextHome wayne.karl@ypnexthome.ca Twitter: @waynekarl

8 CALGARY COMMUNITIES SPRING 2015

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Builders: Birchwood Properties

02 ROYAL OAK

DEVELOPER: Birchwood RanchProperties 10 Hanson BUILDERS:Showhomes: Birchwood Properties Hidden Creek Blvd. NW

inkora Glen Rd. NW

DEVELOPER: Qualico Communities BUILDERS: Broadview, NuVista, Trico Homes, Pacesetter Homes, Sterling Homes, Jayman MasterBUILT

04 SAGE HILL

DEVELOPER: United Communities BUILDERS: Homes by Avi, Morrison 11 Milano Homes,Showhomes: Shane Homes, Sterling 99 Panatella Hill NW Homes,Builders: Trico Homes, Jager Homes, Trico Homes Pacesetter Homes www.nolanhillunited.com

06 BEACON HEIGHTS

Developer: Cedarglen Homes | Cardel Homes Builders: Genstar

03 EVANSTON

Land Development Corp. | Developments Homes | Majestic Homes | mes | Centrex Homes

37 STREET

DEVELOPER: Genstar BUILDERS: Homes by Avi, Cardel 9 CityLife Homes, Landmark, Homes, Showhomes: Excel 2003 20th Ave. Arcuri Homes Developer: Birchwood Properties

SARCEE TRAIL

69 STREET

01 PANORAMA HILLS See ad of a particular project for more details. 05 NOLAN HILL

ide Estates

DEVELOPER: Genesis Land Development Corp.

BUILDERS: Genesis Builders Group, Passion Homes, ReidBuilt Homes, Today’s Homes www.genesisbuildersgroup.com

11 VALLEY POINTE ESTATES

17 SHERWOOD

DEVELOPER: Melcor BUILDERS: Shane Homes, Homes

by Avi, Genesis Builders Group www.lifeinsherwood.com

18 MOUNT PLEASANT

BUILDER: Landmark Homes www.landmarkgroup.ca

DEVELOPER: Melcor BUILDERS: Landmark Homes, Albi Homes

12 BEARSPAW WILLOW CREEK

BUILDERS: Astoria Custom Homes, Hyatt Homes, Laratta Homes, Mckinley Masters Custom Homes

13 WATERMARK AT BEARSPAW

#1 Community in Canada* DEVELOPER: Macdonald Development Corporation BUILDERS: Astoria Homes; Albi Homes, Trickle Creek Homes, Wolf Custom Homes www.watermarkatbearspaw.com

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NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

DEVELOPER: Intergulf Cidex BUILDER: Trico Homes, Intergulf Cidex

DEVELOPER: Dream Development BUILDERS: DS Homes, Homes

by Avi, Genesis Builders Group, Morrison Homes, Innovations by Jayman, Westview Builders, Stepper Custom Homes, Calbridge Homes, Excel Homes

15 ROCK LAKE ESTATES

DEVELOPER: Decker Management BUILDERS: Crystal Creek Homes, Lupi Luxury Homes

09 EVANSVIEW

DEVELOPER: Genstar BUILDERS: Cardel Homes, Acuri Homes

DEVELOPER: United Communities BUILDERS: Pacesetter Homes

F NOINA W LP SE HA LL SE IN G!

VillasAtWatermark.com 403.474.5985 CALGARY COMMUNITIES CLIENT: MacDonald Development Corp PROJECT: Watermark INSERTION DATE: Mar. 7, 2015 SIZE: 7” x 2.5”

SPRING 2015 CALGARY COMMUNITIES 9

Community Profile

WATERMARK AT BEARSPAW

Award-winning

Watermark at Bearspaw offers fabulous lifestyle

by HEATHER RYAN

T

wo-time winner of the best community in Canada award, Watermark at Bearspaw presents a fabulous lifestyle for buyers looking for a custom-built estate home or luxury villa in an area that offers stunning mountain views and a host of terrific amenities.

Watermark at Bearspaw is a 287-acre custom estate home community being crafted

by Macdonald Development Corporation just west of Calgary that has quickly become a hit with buyers.

10

“We’ve had a tremendous response from people to both our estate homes and Villas,” says Ian Macdonald, director of sales and marketing. “For the estate homes, our Phase 1 with 108 lots is sold out, Phase 2 with 66 lots is 90 per cent sold and the 30 lots in Phase 3 are 50 per cent sold.

“We currently have four new estate showhomes under construction in Phase 3 and people can see the plans for these new homes when they visit our current showhomes,” Macdonald says. “We’re also excited to offer quick possession homes, which are great for families who want a new home finished to a high level specification and want to move in quickly rather than wait for a custom home to be built.”

There are currently 18 quick possession homes in various levels of readiness from immediate possessions to eight months out available ranging from $1.3 to $2-plus million.

Buyers can choose from an impressive array of lots ranging from one-quarter to one acre in size and a variety of estate home designs crafted by Watermark’s Builders of Distinction (http://www.watermarkatbearspaw.com/builders) that start at $1.2 million.

Meanwhile, Macdonald Development Corporation is crafting the Villas at Watermark, which consists of 101 bungalowstyle walkouts offering luxurious details and a tranquil maintenance-free lifestyle. The Villas are 80 per cent sold with just 17 remaining as well as the four Villa showhomes in its final phase.

Priced from the mid $700,000s plus GST, the Villas offer 2,000 to 2,600 sq. ft. of developed living space on two levels featuring two or three bedrooms, 2.5-3.5 bathrooms and attached double garages. There are four floor plans available featuring high-end finishes such as quartz countertops, wide plank engineered hardwood flooring, 10-ft. ceilings, stainless steel appliances, large flat surface islands, in-floor heating in the ensuites, gas fireplaces, Hunter Douglas blinds and two big patios.

In addition to the fabulous estates and Villas, Watermark presents a number of already developed amenities such as a network of cascading ponds and streams, 46-acres of parkland, five kilometres of paved trails and a Central Plaza, which features a large pavilion with fire pit, outdoor kitchen and barbeques, NBA-sized sports court, grass sports field and playgrounds.

Watermark offers a stellar location with stunning views of the Rockies. It’s minutes from the Glenbow Ranch Provincial Park, within walking distance to Lynx Ridge Golf Course and a short drive from the Bearspaw Golf & Country Club. Located at 12 Mile Coulee Road, it’s close to various shops, services, restaurants and the LRT at Tuscany and has easy access to Crowfoot and Stoney Trails.

For more information on the estates, visit the showhomes, open Tuesday to Thursday, noon-6 p.m., and Friday, weekends and holidays, noon-5 p.m., call 403-239-9735 or visit watermarkatbearspaw.com. To learn more on the Villas, visit the showhomes, open Monday to Thursday, noon-6 p.m., and weekends, noon-5 p.m., call 403-474-5985, or visit villasatwatermark.com

SPRING 2015 CALGARY COMMUNITIES 11

E! FINAL PHAS Calgary’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

VillasAtWatermark.com CHBA - Calgary Region

2013

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

CALGARY COMMUNITIES CLIENT: MacDonald Development Corp PROJECT: Watermark INSERTION DATE: March 2015 SIZE: 7.25” x 4.65”

CMYK

...bike@thepark, mmellows@dark, people@play, noises go away, bonfires lite, friendships ignite, escape town, paradise found.” @4AllFlowers

your life at watermark is waiting Built to savour the moments that really matter, it’s a community where coming home means leaving the everyday behind. But don’t take our word for it—ask anyone who lives here. Custom or quick possession homes beginning at $1.2 Million.

To see just how luxurious family living can be, visit our showhomes or go to

MyLifeAtWatermark.com 12 CALGARY COMMUNITIES SPRING 2015

Community Profile

NOLAN HILL

United’s Nolan Hill offers wide range of housing choices

by HEATHER RYAN

E

xcitement abounds in Nolan Hill this spring with the opening of new showhomes and the launch of new projects allowing new homebuyers to choose from an array of housing styles to suit their needs.

Situated in northwest Calgary on more than 500 acres, United Communities is crafting the master-planned community of Nolan Hill, which is one of the fastest growing communities in the city and now home to a wide range of multiand single-family options.

“Nolan Hill is popular with buyers because it has so much to offer,” says Steve LePan, marketing director with United Communities. “We really have a product line for almost everyone with townhomes, street towns, lane homes, zero lot lines, move-up and estates.

“We’re also pleased to be opening a new zero lot line showhome parade in May that will include all our builders – Homes by Avi, Morrison Homes, Shane Homes, Sterling Homes and Trico Homes,” LePan says.

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“These homes offer great value and aim at affordability for young families,” LePan says. “They are popular because they allow people to purchase a smaller lot without sacrificing the square footage of their home.”

Trico and Avi are also opening new showhomes for their front attached garage move-up product with homes on bigger lots in May. “Newly released Phases 7, 8 and 12 offer a mix of street towns, townhomes, zero lot line homes and estate lots that are larger 36- and 38-ft. with our builder group, so there really is something for everyone,” LePan says.

“We’re really excited that Creations

by Shane Homes have launched Urbana street towns in Phase 8,” LePan says. “This is a new product to the community and a great entry-level product for buyers because they get a yard, a rear garage and there are no condo fees.

“Townhomes in Nolan Hill are one of our most successful products right now because they offer affordability with prices starting in the high $300,000s,” he adds.

Also this spring, Cardel Lifestyles is launching sales in its Nolan Park townhome project and Jayman Modus will follow the success of its Trinity townhome project with Carnaby Heights.

Nolan Hill also has two other townhome projects, Sonoma at Nolan Hill by Morrison Homes, which is under construction, and The Post by Avi Urban.

LePan notes some other new developments for Nolan Hill include: United will be developing a couple of new playgrounds this spring; a Sobey’s grocery store will open this year anchoring a new neighbourhood commercial site; and a new Wal-Mart Supercentre recently opened just two minutes away in neighbouring Sage Hill.

Besides a great selection of housing styles, buyers are attracted to Nolan Hill’s old-world Irish charm and its tranquil natural setting of rolling hills and ravines.

Nolan Hill offers acres of green space, three beautifully designed wet ponds, a linear pathway system and parks – including Memorial Park, dedicated in memory to Ron Nolan, a community stalwart and a pillar of the development industry for over 20 years.

Nolan Hill’s most inviting feature is the castle-ruin structures at the main traffic circle entry that set the oldworld tone for the community. “The Irish theme, signage and identity of Nolan Hill really create a warm welcome to the community and the Irish castle ruins represent oldworld values of character and integrity,” he says.

Architectural styles also reflect the community’s Celtic theme emphasizing the natural features and unique

setting. Home designs complement the beauty of the surrounding landscape, while architectural details, stone and a palette of deep, rich colours create an interesting streetscape that has broad appeal and ensures lasting value.

An added bonus for Nolan Hill residents is the Symons Valley Ranch Farmers’ Market, which is within walking distance and open year-round. Residents also have easy access to great shops, services, groceries and more at nearby Beacon Hill and Creekside just minutes away.

Nolan Hill is conveniently located by several major routes including Stoney Trail, Sarcee Trail and Shaganappi Trail. For more information about Nolan Hill, visit the showhomes, open Monday to Thursday, 2-8 p.m., and weekends and holidays, noon to 5 p.m., or visit nolanhillunited.com.

The Homebuying Process

The financial side of the

homebuying process

by DONNA MOORE

WITH THE DAYS getting longer and spring just around the corner, it may encourage many people to head outside and visit local showhomes with the intent to discover what’s on the market before they buy their first home or a move-up property.

For those who are thinking about buying a new home this spring, whether you’re a first-time homebuyer or are seeking your next home, what you choose will ultimately come down to finances.

Before taking the plunge into homeownership, a few of questions you should consider are: what’s the best approach to financing the purchase?; how long will it take to get your financing in place?; and how much can and should you borrow and still feel comfortable?

Understanding and feeling positive about your financial picture and your mortgage goes a long way towards your enjoyment of your new home.

You don’t want to find yourself in a situation where you’ve bought at the top end of your budget and you’ve left yourself short for incidentals that often pop up.

When you start getting serious in your house hunt, it’s a good idea to make an appointment with a mortgage specialist to discuss what you’d like to buy, your budget and to get a mortgage pre-approval – this way you know the range of the purchase price of a home you can afford when you start looking. With today’s lending rates at historical lows, it’s a good 16 CALGARY COMMUNITIES SPRING 2015

time to shop, but make sure you can cover higher payments if and when rates go up.

When it comes to obtaining a mortgage, there are a number of lenders to choose from offering a vast array of approaches to make the homebuying process easier for you.

Mortgage lenders also offer ways to meet various budgets so you’ll feel comfortable with your decision at the end of the day.

With today’s technology, homebuyers have easier access to mortgage information and advice from various sources than ever before. Of course, one of the quickest ways to obtain mortgage information is through the Internet, as mortgage lenders and insurers offer a wealth of information online.

Several websites have mortgage calculators that allow you get a clear picture of how much of a home you can qualify to buy and what your payments would be. You can also explore how different purchase prices, interest rates, down payments, amortization and pay back options affect your payments.

If you’d rather have more hands-on material most lenders have a full range of brochures and worksheets available at their branch offices so you can stop in and grab copies of these or check to see if they can be e-mailed to you.

With some lenders, you can also call a toll-free number for 24-hour access to information.

And access to lenders has never

been easier with some offering flexible business hours and/or having mobile mortgage specialists who will come to where you are. Mortgage specialists can provide advice and information to help make the homebuying process easier and can often process your application quickly.

As well, new-home builders are a great source of financing information and assistance. When you’re out visiting showhomes, you’ll discover some builders, in collaboration with their financial partners, offer mortgages to their customers at preferential rates. But at a minimum, your builder can provide information and refer you to lenders who are well versed in financing new home purchases.

Obtaining information early on about mortgages lessens the hassle when it comes to the financial side of the homebuying process and is an important step towards making your homebuying dreams come true.

Donna Moore Executive Officer, Calgary Region Home Builders’ Association 403.235.1911 crhba.com

Airdrie

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

01 BAYSIDE ESTATES

DEVELOPER: Genesis Land Development Corp.

BUILDER: Genesis Builders Group, McKee Homes, ReidBuilt Homes www.genesisland.com

3

7

VETERANS BLVD

VETERANS BLVD

02 WINDSONG

DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes

03 REUNION

DEVELOPER: Hopewell Residential BUILDERS: Excel Homes, Sabal Homes, McKee Homes

04 KING’S HEIGHTS

1ST AVE

10

EAST LAKE

DEVELOPER: Melcor BUILDER: Loreck Homes, McKee Homes, ReidBuilt Homes, Shane Homes, Homes by Avi, Innovations by Jayman www.kingheights.ca

NOSE CREEK

05 RAVENSWOOD

DEVELOPER: Qualico BUILDERS: NuVista, McKee Homes, Pacesetter, Broadview

06 COOPER’S CROSSING

1

DEVELOPER: Westmark Holdings BUILDERS: McKee Homes, Trico Homes, Vesta Properties, Canterra Custom Homes, Crystal Creek Homes and Harder Homes, Lifestyle Homes

07 WILLIAMSTOWN

DEVELOPER: Vesta Properties BUILDERS: Vesta Properties

08 HILLCREST

Developer: Apex Developments Builders: Excel Homes, Shane Homes,Trico Homes hillcrestairdrie.com

09 SOUTHWINDS

Developer: Mattamy Homes Builders: Mattamy Homes

YANKEE VALLEY BLVD

YANKEE VALLEY BLVD

2 NOTE: Map is just a graphic representation of areas of developments.

See ad of a particular project for more details.

9

5

6 4 8

10 CANALS LANDING

Developer: Genesis Land Development Corp.

Builders: ReidBuilt Homes, Mckee Homes, Crystal Creek Homes, Genesis Builders Group, Westview Homes

SPRING 2015 CALGARY COMMUNITIES 19

Community Profile

BAYSIDE PIER 11

Genesis

offers stylish new homes in Bayside’s beautiful Pier II

by HEATHER RYAN

21

T

he newest phase in the tremendously popular Bayside in Airdrie just became even more attractive with the addition of some stylish new homes in their latest release.

Bayside, a master-planned community crafted by Genesis Land Development, follows alongside six kilometres of canals, with numerous parks, walking and bike paths and a five-acre pond that combine to create a tranquil atmosphere where residents can unwind after a hectic day.

Its current phase – Pier 11 – “is so comfortably ensconced within the Bayside community that it offers a quiet, private feel away from major roads and train tracks yet is still close to grocery stores and other amenities,” says corporate marketing manager Jesse Coderre.

“The Nose Creek Elementary School is just two blocks away so parents can walk their children to school, which is really appealing to families,” Coderre says. And, he notes, residents have access to an integrated pathway system with stunning arched bridges crossing the canals that connects the community to large green spaces, parks and sports fields.

“It’s our goal to always provide our customers with the best homes in the greatest communities,” Coderre says. “We feel that we have created something that people and their families will be proud to call home for generations to come.

“This community captures why people move to Airdrie,” he says. “It’s an established community with schools, canals, pathways, parks; it’s also close to shops, services and restaurants – the location is incredibly convenient.”

Genesis Builders Group is the exclusive builder in Pier 11 and offers buyers front garage plans ranging in size from the 1,812-sq.-ft. Greenwood to the 2,432-sq.ft Ambassador including two bungalow models – the 1,428-sq.-ft. Riva and the 1,529-sq.-ft. Stanton with prices starting from $486,000, as well as crafting laned home plans ranging in size from the 1,287-sq.-ft. Arabella to the 1561-sq.-ft.

Eden starting from the $380,000s.

This spring Genesis is thrilled to be opening an incredible collection of showhomes, which will include the Ambassador, which offers a fourbedroom design, the Avalon and the Bella Vista.

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“We’re constantly refining our home designs, always striving to make our homes more functional and beautiful for families,” Coderre says, so in Pier 11 buyers will see plans that incorporate smart, functional layouts coupled with innovative features.

The homes also come with high standard finishings such as hardwood floor, granite counter tops, stainless steel appliances, gas fireplaces and spa-inspired ensuites.

Buyers will also discover energy-saving features such as low-E gas-filled windows, NEST learning thermostats, high-efficiency natural gas furnaces, natural gas hot water tanks and water-saving fixtures as a means of reducing the overall operating cost of the home.

Genesis is building the front attached garage homes on 38- to 42-ft. lots and has several walk-out lots with backyards that face west, directly onto the canal.

The location is a major draw with a commercial site at the corner of Yankee Valley Boulevard and 8th Street so Pier 11 families are able to walk to local coffee shops, drug stores, the bank and convenience stores.

As well, there is easy access to Yankee Valley Boulevard and the QE2 (Highway 2), it’s minutes from CrossIron Mills mall and a short commute to Calgary. Of course, it’s close to all the amenities in Airdrie, including: Genesis Place recreation facility, Nose Creek Park – a 40-acre park, featuring natural trails, trout-stocked pond, amphitheatre and fire pits; Woodside Golf Course; Chinook Winds Regional Park that features a spray park, skateboard ramps and toboggan hill; and Iron Horse Park home to a fully functioning, one-eighth scale version of a diesel locomotive.

Pier 11 offers a winning combination of quality design, an array of amenities, a great location and relaxed lifestyle all within a 25-minute drive to downtown Calgary.

For more information on Bayside Pier 11, visit the showhome today at 1761 Baywater Rd. S.W., Airdrie, open Monday to Thursday, 2-8 p.m., weekends and holidays, noon-5 p.m., or visit Pier11Airdrie.com or call 403-465-2709.

23

In The News

Mattamy Homes

recognizes a milestone in its newest community of Southwinds in Airdrie MATTAMY HOMES IS PLEASED TO

recognize a milestone in its newest community of Southwinds in Airdrie.

The milestone was celebrated with Mattamy’s Southwinds team and the first four homeowners taking possession of their new homes in mid March.

Southwinds is Mattamy’s follow-up to the highly successful community of Windsong in Airdrie.

Southwinds features a reconstructed environmental reserve that will become an integral part of life in this new Mattamy community.

Joining the homeowners and representing Mattamy in the picture above are Warren Saunders, vice-president of sales and marketing, right, as well as members of Mattamy’s construction, sales and land teams.

Visit the sales centre today.

Phone 403.980.8765 Fax 403.912.3009 Email sls_southwinds@mattamycorp.com 907 Windsong Dr. Airdrie Monday to Thursday 1 to 8 p.m.

Friday 1 to 6 p.m.

Saturday and Sunday 11 a.m. to 6:00 p.m.

24 CALGARY COMMUNITIES SPRING 2015

CC_

CC_NewCommunities_032015_A.indd 1

2015-02-06 12:54 PM

In The News

Calgary housing outlook:

solid growth still on the horizon

by WAYNE KARL THE CALGARY HOUSING MARKET has had it good in recent years. Strong

economic, employment and wage growth and increasing net migration all led to a booming real estate sector – including what were record housing starts last year.

So spectacular was this performance, however, that it would be impossible to maintain. It should come as a no surprise, then, that in 2015, some of the “boom” may come off the rose somewhat in this part of Wild Rose Country.

Total housing starts in the Calgary Census Metropolitan Area (CMA) are on pace to reach a record high of 17,200 units in 2014, according the Canada Mortgage and Housing Corp. (CMHC). This represents a huge 37-per-cent increase from 12,584 in 2013. This year, however, total housing starts are forecast to decrease to 14,400 units and 12,800 in 2016.

“Housing demand in the Calgary CMA continues to be supported by positive employment growth and heightened net migration,” says Felicia Mutheardy, CMHC’s senior market analyst for Calgary.

“However, while remaining positive, the rate of employment growth is expected to move lower in both 2015 and 2016. Following a record year in 2013, net migration is expected to decline in 2014 through 2016 while mortgage rates are expected to move higher in the next two years. These factors will contribute to a moderation in the demand for housing, resulting in a reduced rate of growth for sales in the existing home market and lower housing starts for both singledetached and multi-family units.”

In 2015, existing home sales are forecast to increase 2.1 per cent to 34,200 units, and 1.8 per cent to 34,800 in 2016, she adds.

26 CALGARY COMMUNITIES SPRING 2015

Over the next two years in the Calgary housing market, both single-detached and multi-family starts are expected to decline. There will be 6,400 single-detached housing starts in 2015 and 6,300 in 2016, Mutheardy says.

For multi-family starts, there will be 8,000 units in 2015 and 6,500 in 2016. A slower pace of construction for condominiums will contribute to a pronounced reduction in multi-family starts in the next two years.

For the new home market in Alberta overall, single-detached starts are projected to rise by nearly four per cent to 19,300 in 2014 and then remain relatively stable at 19,200 units in 2015 and 19,000 in 2016.

“Strong economic and employment growth are expected to help Alberta’s housing market conditions remain robust by historical standards over the next two years,” says Lai Sing Louie, CMHC’s regional economist for the Prairie and Territories Region.

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DEVELOPER: La Vita Land BUILDERS: Calbridge Homes www.mysticcalbridge.com

02 CURRIE BARRACKS

16 AVENUE

BOW TRAIL

MEM

ORI

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BUILDERS: Crystal Creek Homes, Empire Custom Homes, Avi Urban, Calbridge Homes, Core Properties, Jayman Modus, Slokker Canada West

05 SPRING VALLEY

DEVELOPER: Legend Developments

2 ELBOW DRIVE

5

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10

06 CRESTMONT

BLACK FOOT TRAIL

1

37 STREET

17 AVENUE

SARCEE TRAIL

14 AVENUE SW

69 STREET

DEVELOPER: Qualico Communities BUILDERS: Augusta Fine Homes, NuVista Homes

10 ELMONT BAY

BUILDERS: Westview Builders, Winwood Homes www.elmontbay.com

SOUTHLAND DRIVE

12 DRESSAGE IN SILVERADO

DEVELOPER: Qualico Communities BUILDERS: Baywest Homes, Augusta Homes

ANDERSON ROAD

BOTTOM TR

NOTE: Map is just a graphic representation of areas of developments.

See ad of a particular project for more details.

MACLEOAD TRAIL

GLENMORE RESERVOIR

24 STREET

FISH CREEK PARK JAMES

13 WESTLAND ESTATES

BUILDERS: Baywest Homes, WestView Builders www.westlandestates.ca

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MCKEVITT

FISH CREEK BLVD

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BUILDERS: Prominent Homes, Crystal Creek Homes, Lupi Luxury Homes, Augusta Fine Homes, West Grove Estates

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particular project for more details.

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SPRING 2015 CALGARY COMMUNITIES 29

Calgary region east

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LANGDON NOTE: Map is just a graphic representation of areas of developments.

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DEVELOPER: Hanson Park Developments BUILDERS: Canaco Homes Ltd, Ovation Homes Ltd, Douglas Homes

STRATHMORE

3

BOULDER CREEK ESTATES

DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Broadview Homes

HERITAGE POINTE

STRATHMORE THE RANCH IN STRATHMORE

DEVELOPER: United BUILDERS: Jager Homes and Westview Builders

WILDFLOWER RANCH IN STRATHMORE

DEVELOPER: Cancorp Property Group Inc. BUILDERS: Carpenter Homes, Paradyme Homes, Aquilla Homes and Canterra Custom Homes

EDGEFIELD IN STRATHMORE

BLACK DIAMOND

DEVELOPER: Pollyco BUILDERS: ReidBuilt Homes, Ovation Homes, Westview Homes, Aquilla Homes www.edgefieldstrathmore.com

2

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RAINBOW FALLS HIGH RIVER

DEVELOPER: Truman Developments BUILDER: Jager Homes, Lionsworthe Homes, Douglas Homes, ReidBuilt Homes

WESTMERE

DEVELOPER: Melcor BUILDERS: Lifestyle Homes, ReidBuilt Homes

SHORES ON WESTMERE

DEVELOPER: Melcor BUILDERS: Homes by Avi, Albi Homes

403.830.8601

30 CALGARY COMMUNITIES SPRING 2015

KINNIBURGH

DEVELOPER: Pollyco Developments BUILDERS: Stepper Custom Homes, Canterra custom homes, Sterling Homes, Lifestyle Homes, Douglas Homes, Westridge Fine Homes, Broadview Homes, ReidBuilt Homes

04 BUFFALO HILLS (coming soon)

BUILDERS: Prominent Homes Douglas Homes, Klair Custom Homes Prominent Homes, Mapeland Homes

LAKEPOINTE

DEVELOPER: Mattamy Homes BUILDER: Mattamy Homes Sales centre 400 Westpark Dr.

03 THE LAKES OF MUIRFIELD

BUILDERS: Douglas Homes, Today’s Homes, Ribero Homes and Compass Rose Homes

Community Profile

RANCH IN STRATHMORE

The Ranch offers serenity and charm of small town living

by HEATHER RYAN

O

ffering the serenity and charm of small town living and stylish home designs at an affordable price makes The Ranch in Strathmore an attractive place for new homebuyers to put down roots.

Being developed by United Communities, this 111-acre master planned community presents a mix of residential and commercial along with park space, soccer fields and a linear pathway.

“We’ve been in Strathmore for years developing a residential neighbourhood along the north side of The Ranch Market, a bustling new commercial centre anchored by Wal-Mart, Sobey’s, Totem and Holiday Inn.,” says Steve LePan, marketing director with United Communities.

31

“We’re now launching a new phase in The Ranch, Phase 8, with two builders – Jager Homes and Westview Builders – who are both building single-family homes that are attached by the garage,” LePan says. “This style of home offers really great value for buyers because they can get into a single-family home that is attached only by the garage starting in the $350,000s – less than many townhomes in the city.

“These homes appeal to young families who desire a single-family home and looking for affordability and empty-nesters that want to downsize from an acreage and move into town,” he says.

These homes offer buyers differing designs to suit their needs from 1,100-sq.-ft. bungalows to up to 2,000-sq.-ft. two-storeys on 34-ft. lots, and the two builders will have showhomes opening in April/May. Westview Builders marketing manager Jerry Trgina says they will open two models under its Red Door product line – The Colorado, 1,480 sq. ft. and The Radley 1,339 sq. ft.

“Both are two-storeys built beside each other and attached by the garage,” he says. “The product is a little different from Calgary and hitting that right price point, which is more the objective in Strathmore; we try to target the low $300,000s making it affordable for Strathmore and the first-time buyer.”

Trgina says the homes include “nice ensuites, large walk-in closets, three bedrooms, 2.5 bathrooms and high quality standard specifications. We also offer preplanned options to suit the buyers’ needs.”

Jager marketing director Gina Roland says they’re excited about the development 32 CALGARY COMMUNITIES SPRING 2015

Westview Builders

Jager Homes and what Jager Homes is offering.

Jager’s showhomes are both twostoreys – the Eastgate is 1,790 sq. ft. and the Waterford is 1,511 sq. ft. – with three bedrooms and 2.5 bathrooms.

The homes start at $349,900 plus GST. “These homes are only attached by the garage giving the buyer a little more driveway and more garage; they’re more affordable and offer a lot of value,” Roland says. “We also offer a strong builder spec that includes granite countertops, gas fireplace and a stainless steel appliance package.”

Along with great homes, residents can enjoy already existing amenities with expansive green spaces and outdoor recreational opportunities with a 14-acre municipal park system at the doorstep that connects the entire community to the sports fields and pathway system where it’s not

uncommon to see people out for an evening stroll or morning bike ride.

The Ranch has been designed take advantage of the picturesque prairie setting by blending the residential lots with the natural elements of the land, establishing an identifiable image for the area. Homes throughout the community feature a Prairie Ranch theme with architectural styles that are influenced by Craftsman and Traditional elements.

Residents appreciate being within walking distance to The Ranch Market, which is conveniently located south of The Ranch providing easy access to all types of shops, services and more, including a Walmart, and that a new Co-op grocery store is underway on a another new commercial site east of The Ranch.

As well, there are schools, churches and medical clinics are located nearby and Strathmore is home to an array of recreation facilities and a golf course.

“Strathmore has really great amenities, shops, restaurants and the traffic flows well – it’s just a straight shot into the city,” Trgina says.

Located a 25-minute drive east of the Calgary along the Trans-Canada Hwy., “The Ranch is definitely worth the drive to see all that this community has to offer,” LePan adds.

United is also pleased to be among the sponsors of the 55+ Summer Games, which will be hosted by Strathmore in July.

To learn more about The Ranch, visit the showhomes, which open this spring, Monday to Thursday, 2-8 p.m., and weekends and holidays noon-5 p.m., visit www.theranchunited.com SPRING 2015 CALGARY COMMUNITIES 33

THE MOST ANTICIPATED HOMES IN VICTORIA PARK

6 AVE N

GREYHOUND BUS TERMINAL

23 AVE S

26 AVE S

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.

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

TEL 403 800 3368 Sat & Sun 12 – 5PM

Inner City Condo’s 01 R IVERFRONT POINTE

BY CARLISLE GROUP

101 Riverfront Avenue S.E.

RILEY PARK

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05 THE GUARDIAN

BY HON TOWERS

12th Ave SE at 3rd St.

06 AVENUE

BY GROSVENOR & CRESSEY 1035 5th Ave. SW

07 SMITH

BY GROSVENOR

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

08 DISTRICT

BY BOULEVARD INVESTMENTS

Sales Centre Now Open 305 18th Ave. SW

09 LiFFT

BY VERICON REAL ESTATE VENTURES Coming soon to RenfrewBridgeland liveLiFFT.com

10 BRIDGELAND CROSSINGS

BY GABLECRAFT HOMES bridgelandcrossings.ca

11 SOBOW

BY M2I DEVELOPMENTS CORPORATION 1640-170A St. SE

12 KENSINGTON

BY BUCCI 301 10th St. NW Coming Soon

13 FIRST

BY FRAM + SLOKKER

East Village Experience Centre 553 Riverfront Ave. SE

16 STEPS BRIDGELAND

BY GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE

17 916

BY SABLE DEVELOPMENTS 916 Memorial Drive

18 EVOLUTION

BY EMBASSY BOSA INC.

East Village Experience Centre 553 Riverfront Ave. SE

19 VERVE

BY FRAM + SLOKKER

Sales Centre Now Open in East Village

20 LIDO

BY BATTISTELLA

Sales Centre 1120 Kensington Rd

21 V&V

BY PROVIDENCE GROUP Register: einsteincalgary.com

22 ALEX

BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

23 MISSION 34

BY ASSURED COMMUNITIES

98 Mission Road SW mission34.ca

25 BRIDGELAND HILL

BY GABLECRAFT HOMES 516 Edmonton Tr. NE Coming Soon

A NEW PERSPECTIVE ON URBAN LIVING SPRING 2015 CALGARY COMMUNITIES 35

Community Profile

THE GUARDIAN

Calgary’s tallest residential towers offers coveted Victoria Park address

by HEATHER RYAN

S

oaring to new heights, the two towers of The Guardian are fast becoming a recognizable landmark in Calgary’s skyline as the city’s tallest residential towers, located in the up-andcoming Victoria Park neighbourhood.

The Guardian presents eye-catching modern design, exceptional finishes, stellar location and outstanding value, which has quickly made it a hit with savvy buyers.

36

The Guardian North, which sold out quickly, already soars to 44-storeys and is completed to its full height with possessions expected to begin this spring. Its twin, The Guardian South, is not far behind in construction, still rising at 36 storeys and more than 50 per cent sold.

“With the first tower sold out, sales are going extremely well in The Guardian South,” says Ernest Hon, director of sales and marketing at Hon Developments.

“We are getting a great response from Calgary homebuyers who appreciate that not all square-feet are made equal.

“Our floor plans are designed with the resident in mind; living spaces are generously proportioned to allow flexibility in furniture layout and we’ve carefully optimized the suites to avoid any wasted space,” Hon explains.

The Guardian South has a variety of plans available with one bedrooms ranging from 441 to 572 sq. ft., two bedrooms from 809 sq. ft. to 979 sq. ft., and the incredible Paramount Suites, which have interior spaces of up to 2,619 sq. ft.

And while The Guardian towers may be rising, its prices are low with one bedrooms starting at an affordable $264,900 and two bedrooms at $445,900. Luxurious Paramount Suites start at $1.4 million.

Each of the homes at The Guardian have floor-to-ceiling windows including expansive windows in every bedroom and oversized balconies so residents can enjoy sweeping panoramic views. “The Guardian’s unique vantage point amongst the low-rise buildings of the historic warehouse district in Victoria Park means that these units will always have magnificent and largely unobstructed views of the city skyline, rivers and mountains,” Hon says.

The modern open-concept interiors feature high quality finishes than span throughout the suite like the wide-plank laminate wood flooring. Kitchens feature high-end cabinetry manufactured in Italy by Armony Cucine that offers unparalleled quality, functionality and durability. The appliances are sleekly integrated into the cabinetry and include a professional-grade induction cook top by Germany’s AEG. The quartz countertops and seamless aluminum or glass backsplashes are designed to be both beautiful and easy to clean. Armony Cucine cabinetry can also be found in the elegant bathrooms, and complements sleek polished chrome fixtures, frameless glass showers and a unique micro-mosaic tile feature wall.

The Guardian also presents distinctive modern architecture highlighted by glass window walls and metal panels that, combined with its remarkable height, make a dramatic impact on the skyline and a coveted address by its residents.

Hon notes that with construction ahead of schedule, purchasers can be confident that their homes will be completed on time with possessions beginning this spring in The Guardian North and next spring in The Guardian South.

The towers are comprised of 620 condos with a mixeduse podium that will contain parking, residential amenities, retail, and live/work units. The Guardian features an impressive set of onsite amenities, including a fully-equipped fitness centre, yoga studio, workshop, residents’ social lounge and rooftop garden terrace.

“The Guardian is attractive to young urbanites, families and downsizers,” Hon says. “One of the biggest draws is the Victoria Park neighbourhood, which over the past decade has seen dramatic change as the historic warehouses have been converted into studios for creative professionals, innovative small businesses and hip new restaurants and cafes including the recently-opened hotspots Village Ice Cream, Caffe Rosso and Vagabond micro-brewery.”

Savvy homebuyers are certain to appreciate the value of buying into a neighbourhood that is now welcoming an influx of new residents, businesses and new cultural amenities such as the nearby National Music Centre.

And with many people no longer content to commute to distant suburb communities, buyers are discovering the thrill of urban living offered by The Guardian, which is strategically located across from Stampede Park and central to a wide range of conveniences. “The Guardian embraces urban living with easy access to downtown, the rivers, East Village, 17th Avenue and Inglewood.”

For more information, visit The Guardian’s award-winning presentation centre in the historic Victoria Park Bungalow Schoolhouse at 456 12th Ave. S.E, open Monday to Thursday, 12-6 p.m., and weekends, 12-5 p.m., call 403-800-3368 or visit theguardiancalgary.com SPRING 2015 CALGARY COMMUNITIES 37

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CLOSED FRIDAYS

Cochrane

NOTE: Map is just a graphic representation of areas of developments.

See ad of a particular project for more details.

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7

RIVER HEIGHTS DR.

01 HERITAGE HILLS

04 RIVERSONG

02 JUMPING POUND RIDGE

05 MONTERRA ON COCHRANE LAKE

DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Trico Homes, www.jumpingpoundridge.com BUILDERS: WestView Builders, Kingsmith Homes

03 SUNSET RIDGE

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DEVELOPER: Melcor BUILDERS: Jayman MasterBUILT, Innovations

by Jayman, Janssen, Calbridge, Landmark Homes, Excel Homes, Homes by Avi

DEVELOPER: Tamani Communities BUILDERS: Innovations by Jayman, Sabal Homes, Jayman MasterBUILT, Trico Homes

DEVELOPER: Medallion Development Corp.

BUILDERS: Prominent, Modena, Cornerstone, Brooklyn, Astoria Custom Homes

06 WESTPOINTE ESTATES

07 FIRESIDE

DEVELOPER: La Vita Land BUILDERS: Calbridge, Janssen, Kingsmith, Landmark, ReidBuilt Homes www.firesidecochrane.com

08 HEARTLAND

DEVELOPER: Apex Developments BUILDERS: Excel Homes www.heartlandcochrane.com

DEVELOPER: MGM Developments.

BUILDERS: Mapleland Homes, Kingsmith Homes

Something for Everyone with Jayman MasterBUILT in Cochrane.

Front Drive Homes Starting at $530’s SUNSETRIDGE@jayman.com

Luxury Living on the River Starting at $590’s RIVIERA@jayman.com SPRING 2015 CALGARY COMMUNITIES 39

Calgaryism

Why should you consider

Buying a new home versus resale?

by CODY BATTERSHILL

HAVE YOU EVER IMAGINED BUILDING A HOME FROM SCR ATCH? If you’re a homeowner, it’s safe to say that you’ve probably thought about creating an entirely customized home for you and your family at one point or another, especially if you’ve watched shows such as Bravo TV’s “Million Dollar Listing” or MTV’s “Celebrity Cribs.”

Maybe you’re already living in a home that you custom built, plan on building one from the ground-up in the near future or have bought resale properties you’re entire life and 40 CALGARY COMMUNITIES SPRING 2015

are looking for a fresh start.

Well, if you’ve bought a new home before, you probably already know about the perks of doing so in comparison to buying a resale property. However, not all of us are experienced buyers.

As a matter of fact, some of you may be a first time homebuyer, or have made one or two moves before but never into an entirely new property. I am here to tell you why you should consider buying a new home in Calgary the next time you make a move.

NEW DESIGN & WARRANTY Like most “new” things, a new home has an aura of newness that isn’t only embedded in the construction date, but also in the design features that have been taken from the latest and greatest from Calgary’s home builders.

Years of experience in the industry has led most of our city’s premier builders to creating new and innovative floorplans, as well as interior and exterior designs that fit in perfectly with our modern lifestyles.

Another desirable thing about buying a new home is the Alberta New Home Buyer Protection Act, and the mandatory warranties that come with all household appliances. Now, you can rest assured if something is faulty or doesn’t work properly one, two or possibly several months after move-in.

CUSTOMIZATION Whether you’re building a luxury home in Aspen Woods or have found a pre-designed floorplan in Evanston, chances are that you’ll have a dozen, two dozen or a massive list of customizable options to choose from with your builder of choice.

Buying a new home in Calgary, in most instances, will offer you exactly that; customizable options such as: » Interior colour palette » Exterior color » Flooring and kitchen countertops » Blinds and lighting fixtures …while more high-end purchases will have a much larger list of design choices for you to make.

Luxury buyers who are building new may even get to choose fancy appliances such as a touch-screen eight-burner gas-stove and have the builder incorporate its exact dimensions into the design of the kitchen, just one example of how custom new homes can be.

A FRESH START If you were to buy a resale property, truth is you don’t know what exactly could be wrong with it or its appliances even after a thorough home inspection. On the other hand, there are pros to buying a new home in Calgary.

Buying a new home gives you peace of mind with the warranty included (mentioned above), and also gives you a fresh start with floors, walls and appliances that haven’t been worn or used in any way.

Oh, and let’s not forget the fresh new house smell that’s mesmerizing in itself. Okay, okay, probably not the best reason to buy new, but hey, it’s worth mentioning.

Cody Battershill is the founder of Calgaryism and a top-producing realtor at Re/Max House of Real Estate. He also sits on the condominium task force at the Calgary Real Estate Board. He can be reached at 403.370.4180 or calgaryism.ca SPRING 2015 CALGARY COMMUNITIES 41

1 Auburn Bay Showhomes: Auburn Bay Blvd. SE Auburn Sound Manor SE Auburn Bay Gardens Developer: Carma Builders: Heartland Homes | Cardel Homes | Cedarglen Homes | Baywest Homes | Jayman MasterBUILT | Albi Homes | Morrison Homes

2 Copperfield Developer: Hopewell Residential Communities Builders: Broadview Homes | Coco Homes Sabal Homes | Stepper Custom Homes

17 AVE

3 Cranston

Showhomes: Corner of Cranston Ave.& Cranarch Rd. Builders: Albi Homes | Landmark Homes | Baywest Homes

4 WALDEN Showhomes: Walden Rise SE Developer: Genstar Builders: Shane Homes | Cardel Homes | Innovations

by Jayman | Excel Homes

HLAND DRIVE

DERSON ROAD

Developer: Carma EEK PARK

5 Mahogany Showhomes: Mahogany Heath SE. Developer: Hopewell Builders: Jayman MasterBUILT | Sabal Homes | Stepper Custom Homes | Trico Homes

6 McKenzie Towne Developer: Carma

ELGIN VILLAGE Showhomes: Elgin Meadows Green SE. Elgin Estates Park SE. Builders: Cardel Homes | Homes by Avi | Albi Homes | Heartland Homes

Find the perfect new home or condo 7 New Brighton in the neighbourhood that fits your lifestyle.

VILLAGE OF PRESTWICK Showhomes: Prestwick Blvd SE. Builders: Cedarglen Homes | Jayman MasterBUILT

Showhomes: New Brighton Dr. SE. Developer: Carma Builders: Beattie Homes | Cardel Homes | Cedarglen Homes | Morrison Homes | Heartland Homes | Homes by Avi

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32 AVENUE

16 AVENUE

16 AVENUE

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17 AVENUE

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17 AVENUE

52 STREET

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4

DEVELOPER: Brookfield Residential BUILDERS: Albi Homes, Shane Homes, Cardel Homes, Cedarglen Homes, Trico Homes, Morrison Homes, Landmark Homes, Baywest Homes, Brookfield Residential RIVERSTONE OF CRANSTON BUILDERS: Albi Homes, Cedarglen Homes, Landmark Homes, Baywest Homes, Calbridge Homes, Brookfield Residential www.livecranston.ca

05 MAHOGANY

DEVELOPER: Hopewell Residential BUILDERS: Jayman MasterBUILT, Sabal Homes, Stepper Custom Homes, Trico Homes, Homes by Avi ESTATE BUILDERS: Calbridge Homes, Morrison Homes, Homes by Avi www.mahoganyliving.com

08 CHAPARRAL VALLEY

DEVELOPER: Genstar BUILDERS: Cardel Homes, Jayman MasterBUILT, Innovations by Jayman, Cardel Lifestyles, Homes by Avi, California Homes

09 QUARRY PARK

DEVELOPER: Remington Corporation BUILDERS: Cardel Homes, Birchwood Properties, Albi Homes

10 LEGACY

DEVELOPER: Westcreek Developments BUILDERS: Stepper Custom Homes, Albi Homes, Trico Homes, Excel Homes, Sterling Homes, Creations by Shane Homes, Innovations by Jayman, Calbridge Homes, Morrison Homes www.legacylife.com

06 McKENZIE TOWNE

DEVELOPER: Mosaic Townhomes: Brookfield Residential BUILDER: Mosaic Townhomes: Brookfield Residential

10

01 AUBURN BAY

03 CRANSTON

DEVELOPER: Genstar BUILDERS: Cardel Homes, Excel Homes, Homes by Avi, California Homes, Avi Urban

A

CL D. VO R BLV

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particular project for more details.

04 WALDEN

IL

TOM TR BOT

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52 STREET

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NOTE: Map is just a graphic representation of areas of developments. See ad of a

9

DEVELOPER: Brookfield Residential BUILDERS: Brookfield Residential, Cedarglen Homes, Baywest Homes, Jayman MasterBUILT, Albi Homes, Morrison Homes, Discovery Homes, Innovations

by Jayman www.liveauburnbay.ca

02 COPPERFIELD

DEVELOPER: Hopewell Residential BUILDERS: Excel Homes, Sabal Homes, Stepper Custom Homes

07 NEW BRIGHTON

DEVELOPER: Brookfield Residential BUILDERS: Shane Homes, Cedarglen Homes, Morrison Homes www.livenewbrighton.ca

SPRING 2015 CALGARY COMMUNITIES 43

MAP NOT TO SCALE

In The News

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

46 CALGARY COMMUNITIES SPRING 2015

HOUSING AFFORDABILITY IN CALGARY ACTUALLY IMPROVED IN THE FOURTH QUARTER OF 2014 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.

“Large increases in new listings during October and November represented early signs of nervousness for sellers, but it really was the 26 per cent freefall in home resales during December that gave compelling proof that the unease spread among all market participants,” says Wright.

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.

RBC’s housing affordability measure for the benchmark detached bungalow in Canada’s largest cities in Q4 of 2014 was: Vancouver 82.4 (down 1.2 percentage points from Q3); Toronto 56.8 (up 0.8 percentage points); Montreal 37.3 (unchanged); Ottawa 36 (up 0.2 percentage points); Calgary 33.7 (down 0.6 percentage points); Edmonton 33.5 (up 0.1 percentage points).

4

Community Profile

WALDEN

Genstar’s Walden

a new community with an established feel

by HEATHER RYAN

F

amilies looking to make a home in a new community that offers already established parks and pathways, great neighbourhood conveniences and a wide range of housing styles are discovering Walden in southeast Calgary.

“Walden has really become a vibrant, family-oriented community and we’re getting a great response from people because of the community being more established with a lot of the construction already completed,” says Patrick Briscoe, development manager for Genstar Development Company, which is creating Walden. “All of our showhomes are now in the heart of the community making it feel like a more mature new community.

47 CALGARY COMMUNITIES SRPING 2010

47 47

”A major addition in the community is the Save-OnFoods grocery store at the Gates of Walden commercial site.

“It’s drawn a lot of interest and people love being able to get their groceries, pick up their prescriptions at Shopper’s Drug Mart, have coffee or do their banking at the Gates of Walden without having to leave their community.”

New homebuyers also appreciate that with the launch of new phases in Walden, they have even more choices for homes and lots.

“We still have our popular move-up and semi-estate homes available with Cardel Homes, Homes by Avi and Excel Homes building move-up homes and Cardel and California Homes building semi-estates,” Briscoe says. “But we’re also pleased to re-introduce a semi-detached product

by Avi and a starter home product by Excel on zero lot lines in Phase 18. These products have been missing from our lineup for about a year so we’re happy to bring them back and provide affordability for buyers.

48 CALGARY COMMUNITIES SPRING 2015

“We’ll also be bringing on Phases 21 and 22 in the fall that will have more starter home product and hopefully Phase 23 later this year,” he says. “And, Phase 21 will include Avi Urban’s next townhome project that will follow the highly successful Edison in Walden that is almost completed construction.

“We are also excited to introduce Rockford in the community as an experienced multi-family builder,” he adds.

Walden’s architecture presents an “Urban Fusion” look that allows builders more freedom to blend different styles for an esthetically pleasing streetscape. The styles vary significantly, such as Arts and Crafts and Tudor. “It really gives people a lot of choice, but there is also continuity in the community.”

Walden takes its inspiration from nature’s beauty being surrounded by tranquil parks, open spaces and pathways, and presents a community where families can live, work and play.

The community was named after Walden Pond, and has been designed to ensure there is low impact on the environment, such as crafting infiltration beds that preventing water from flowing directly into the Bow River.

Genstar also retained native trees and vegetation giving Walden the look of an established neighbourhood with an abundance of green space.

Along with the established conveniences at the Gates of Walden, residents also appreciate that they have easy access to a wide range of shopping opportunities just a short drive away along MacLeod Trail and in Shawnessy.

Briscoe notes the recent completion of 210 Avenue S.E. provides residents with a second major entrance – 194 Avenue S.E. was the first – off MacLeod Trail, and Walden residents have quick access to Stoney Trail, as well as to Deerfoot Trail; and it’s just five minutes to the Somerset LRT. For more information on Walden, visit the showhomes, open Monday to Thursday, 2-8 p.m., and weekends and holidays, noon-5 p.m., or visit waldenliving.ca.

SRPING 2010 CALGARY COMMUNITIES 49

Mortgage Mogul

Are you working with

the right team?

by JASON ELDRIDGE

AS A FIRST-TIME HOMEBUYER, to say the task of

purchasing one’s first home can be a little daunting could be putting it mildly. Making sure you are surrounded by the right team of professionals can make all the difference from start to finish. So, where do you start?

Getting pre-approved for your mortgage financing is a critical first step. By doing so, you not only know what your purchasing power is, but you also have the knowledge of knowing your mortgage rates are going to be held for a minimum of 90 days, which will protect you if rates do go up during that time. As well, most realtors and or builders prefer if you have already been pre-approved for your mortgage.

As soon as your mortgage pre-approval is in place, you will likely want to work with a realtor to help you find your first home. Based on your budget, the location, style, size and other requirements you may have for your future home, a real estate professional will be able to help you find the perfect place. They will also help you with the negotiation process that will undoubtedly occur with most purchase transactions.

After the purchase price has been agreed upon by all parties involved, you may choose to get a home inspection done for your own piece of mind as part of the conditions of buying that home.

By having a home inspection completed, you will know if your future home either require immediately, or will be subject to any costly repairs in the near future.

Now that all of the conditions have been met as per your purchase contract, you will need to get property insurance. Speaking with the company that holds your car or life insurance may be an excellent start.

If you are looking to see if you can acquire better coverage at a lower cost, you may wish to seek the service of an insurance broker. Like a mortgage broker, they will shop your application to several different companies looking for the best price and coverage.

50 CALGARY COMMUNITIES SPRING 2015

Once you have negotiated a purchase contract, and have acquired a full approval on your mortgage financing, you will need to seek the services of a real estate lawyer. Like any professional, not all are created equal, so calling around or getting referrals from friends and family could be very helpful. Getting quotes, and finding out if they have time to work with you is very important as purchasing a home can be a time sensitive situation. Some lawyers offer an “all inclusive” fee for purchasing a home, while others may have a standard fee plus additional costs depending on the complexity of the purchase and the requirements of the financial institution providing the mortgage.

By working with the right group of people to assist you with your first home purchase, you will find that if or when the time comes to sell and or purchase another property, you will be that more confident going through the process once again.

As always, I welcome any questions or comments you may have regarding the information contained in my articles.

Until next month…

JASON ELDRIDGE P.F.P, B. Admin Mortgage Specialist, Axiom Mortgage Solutions (formerly Unisource Mortgage) Cell 403.630.1718, Fax 866.708.5807 Email jason@axiommortgage.ca Web/apply online jason.axiommortgage.ca

PANORAMA ROAD

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

STONEY TRAIL

4 52 STREET

HARVEST HILLS

METIS TRAIL

MONS VALLEY ROAD

Northeast

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IN

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14 STREET

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64 AVENUE

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OH

68 STREET

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16 AVENUE

16 AVENUE

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

01 SADDLESTONE

04 REDSTONE

02 SADDLEBROOK

05 CITYSCAPE

DEVELOPER: Genesis Land Development Corp.

BUILDERS: Genesis Builders Group www.genesisbuildersgroup.com DEVELOPER: MLC Land Company BUILDERS: Elite Homes, Pacesetter Homes, Trico Homes

DEVELOPER: Qualico Communities BUILDERS: Broadview Homes, NuVista Homes, Pacesetter Homes, Innovations by Jayman, Trico Homes DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes

SPRING 2015 CALGARY COMMUNITIES 51

O 549

01

02

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ELIZA BETH STR EET

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49

Okotoks

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

LVD.

7

2A

01 OKOTOKS AIR RANCH & RANCHERS’ RISE

04 WESTMOUNT

02 CIMARRON

08 MOUNTAINVIEW

DEVELOPER: Bordeaux Developments BUILDERS: Baywest Homes, Sterling Homes, Wolverine Custom Homes DEVELOPER: Tristar Communities BUILDERS: Excel Homes, Trico Homes, Coco Homes, Timbercreek Homes, Westview Homes, Kunz Homes

03 DRAKE LANDING

DEVELOPER: United Communities BUILDERS: Lifestyle Homes, Sterling Homes, Prominent Homes

Starting from the $400s

DEVELOPER: Prominence Development Corp.

BUILDERS: Cornerstone Homes, Gramercy Homes, Carpenter Homes

(NOW OPEN) AT SANDSTONE DR. & MOUNT BURNS GREEN Apex Developments BUILDERS: Excel Homes, Sterling Homes www.mountainviewokotoks.com

NEW PHASE NOW SELLING

New Showhomes Opening Soon!

DRAKEUNITED.COM

SPRING 2015 CALGARY COMMUNITIES 53

In The News

Why Alberta will survive

the ‘oil crisis’ of 2015

by WAYNE KARL ALBERTA HOME BUILDERS HAVE A

message for those who have recently bought – or are about to buy – a home: relax. The sky is not falling on the housing market in the province.

Sure, the recent slide in oil prices has caused a stir: listings are up and sales down, but so far there’s been little impact on home prices. In Calgary, for example, the detached benchmark price in January was $518,600, an eight-per-cent increase over January 2014’s $480,300, and up slightly from December’s $510,900.

So, Chicken Little, what exactly is the problem?

54 CALGARY COMMUNITIES SPRING 2015

CHBA – Alberta Economic Analyst Richard Goatcher, summed up the industry’s mood following a recent meeting with builders in Red Deer – the “Heartland” of the province.

“A general mood of caution for 2015,” he told New Home Guide. “Most expect to stay busy, but slower than last year.”

CHBA – Alberta represents more than 1,500 builders, renovators, developers, trade and supply companies in the province – so, a sector that is a key employer and economic driver.

Builders expect 2015 starts will drop 15.5 per cent from 2014 levels, but the province-wide total of 34,300 units should still exceed the 2010-14 five-year average of 32,500 units.

Most of the slowdown this year is expected to come in the multi-family segment, where starts are expected to decline by 20 per cent to 16,840 units. Single-detached

AS FOR PRICE GROWTH, AFTER LEADING THE PRAIRIE REGION IN 2014, ALBERTA WILL RECORD MORE MODEST PRICE GROWTH MOVING FORWARD. starts are expected to reach 17,460 units, down 11 per cent from 2014.

To be sure, these declines are notable, but they follow a very busy 2014 for Alberta’s new home building industry – the best since 2007 – with total housing starts (urban and rural) reaching 40,590 units.

CMHC WEIGHS IN

Recently, Canada Mortgage and Housing Corp. updated its forecast, in its first quarter 2015 Housing Market Outlook, saying housing starts in Alberta would decrease to 36,000 in 2015 and 34,500 in 2016.

As for price growth, CMHC says that after leading the Prairie region with a 5.2-per-cent gain in 2014, Alberta will record more modest price growth

moving forward. With rising listings and lower demand in 2015, price growth in the province will ease to below two per cent to an average of $407,100 in 2015 and $415,000 in 2016.

“Lower oil prices will have a dampening effect on investment and economic growth, particularly in Alberta and to a lesser extent Saskatchewan,” says Lai Sing Louie, CMHC’s regional economist. “This will contribute to slower employment growth and net migration, in turn slowing housing demand.

The Canadian Association of Petroleum Producers – representing another huge employment sector in the province – says capital investment in western Canada will still total $46 billion this year – including $25 billion in the oil sands.

“Certainly a drop from the high-water mark, but not chump change, either,” CHBA – Alberta spokesman Paul Cashman told New Home Guide. “Alberta’s other big primary industries – forestry and tourism – will get a boost from the low Canadian dollar.

“So, there are still some big positives in Alberta.”

SPRING 2015 CALGARY COMMUNITIES 55

www.landscape360.ca

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The service and product we provide will withstand the toughest elements, while giving your home a personality. With a commitment to quality, Landscape 360 is driven to establish strong relationships with each client.

PROFESSIONAL LANDSCAPE CONSTRUCTION | 403-452-0360

Community Profile

DRAKE LANDING

United releases new phase in

Drake Landing

by HEATHER RYAN

W

ith the release of a new phase and new lots, families now have a second chance to make a home in United Communities’ popular Drake Landing in Okotoks.

United has been developing Drake for 10 years and was moving towards completion when it acquired additional land and is now bringing on 150 new lots over three phases. A third of those lots are now available in Phase 10, says Steve LePan, marketing director with United Communities.

“Drake offers buyers the best of both worlds – they can enjoy all the amenities of a well-established community and get to build a new home,” LePan says.

“In Phase 10, buyers have a wide selection of single-family housing styles and lots to choose from featuring lane homes with optional rear detached garage and move-up front attached garage homes.

57

“We’re also currently selling a mixed use commercial/ residential site in the community,” Le Pan adds.

Builders in Phase 10 are Lifestyle Homes, Prominent Homes and Sterling Homes, which have a variety of models, designs and sizes available. Prices start in the low $400,000s for lane homes and from the high $400,000s for move-up homes.

As well, the builders are crafting showhomes in the new phase, LePan says. Each builder will have one move-up showhome and one lane spec home for a total of six models, which will open this spring.

The architectural styling for the homes is inspired by the natural surroundings and reflects Okotoks’ history. The homes in Drake Landing feature Craftsman, Georgian, Tudor, Colonial and Victorian highlighted by interesting elements such as brick, stone and rock detailing and light and earthtone colours to create a visually appealing streetscape.

Along with a variety of housing styles, Drake Landing appeals to environmentally-conscious homebuyers who appreciate United’s water conservation initiatives through its PEER program and its Built Green™ builders who ensure energy efficient homes.

Of course, United’s most notable green initiative in Drake Landing was the award-winning Solar Project, which provided an opportunity for homeowners to heat their homes with solar energy. This demonstration project, which earned the Energy Globe World Award for Sustainability in 2011, was immensely popular with buyers and sold early in the community’s development stage. The success of this project is just part of what makes this community special and attractive to homebuyers.

For years, residents have been drawn by Drake Landing’s tranquil setting and its outstanding location – the community is situated on 200 acres that overlooks the Sheep

River Valley providing scenic views of the mountains and rolling foothills.

As well, at Drake Landing buyers have the opportunity to take advantage of a wide range of recreational opportunities “right out their back door,” LePan says.

For residents who like to get out and be active, there are numerous, already established amenities to enjoy in Drake Landing, such as pathways that link with the town’s extensive regional pathway system and sports fields, as well as the ravine where there is a naturalized pond that is frequented by wildlife and residents who love the peaceful surroundings.

There is also an off-leash dog park, neighbourhood playgrounds and pathways all within walking distance of Seaman Stadium home of the Okotoks Dawgs Baseball Club – a major attraction for baseball fans.

Residents also appreciate being able to take one of

the many pathways to neighbourhood conveniences such as restaurants, shops, professional services and schools.

Meanwhile, there is a host of big box retailers, boutique stores, grocery stores, eateries and other amenities just few minutes drive away, plus residents have quick access to Calgary for an easy commute.

“The location, amenities and wide selection of homes and lots in Drake Landing really appeal to homebuyers,” LePan says. “We continually see residents who started out with their first home in earlier phases moving up to larger homes in the newer phases to accommodate their growing families because they love the community and have truly made Drake Landing their home.”

For more information about Drake Landing and the new lots available, visit the showhomes, open Monday to Thursday, 2-8 p.m., and weekends and holidays, noon-5 p.m., or visit drakeunited.com or unitedcommunities.com.

Outdoors

Landscape living

by BRAD JACKMAN ONE SHOULD NEVER UNDERESTIMATE THE MANY benefits of creating a vibrant and functional outdoor living space customized for your home. Landscaping is essentially giving your house a home. Professionally landscaping your property provides a sanctuary for your family, friends and pets. Landscaping improves your quality of life, increases the value of your home and adds personal flare to your home’s exterior.

Your landscape options include custom decks, patios, walkways, garden beds, trees, shrubs, lighting, fences, irrigation, drainage solutions, boulders, retaining walls, water features and barbecue pits. Clearly, there are many aspects to landscape construction, and it pays to explore all your options carefully. More importantly, hire a company with a strong portfolio.

With a variety of high quality products and many different design concepts, your landscape design can be customized to complement any size and shape of property.

Natural stone is the highest quality material to use for landscaping. Serenity, timelessness, balance, beauty and function are all traits of natural stone. Natural stone can be 60 CALGARY COMMUNITIES SPRING 2015

used in almost all facets of landscape construction.

Landscape lighting is a phenomenal way to enhance your outdoor space and bring your yard and nature to life.

Lighting provides your space with energy, safety, balance and interest. The ambient glow of landscape lighting sets the mood for your yard.

Custom irrigation systems are an excellent way to conserve water and reduce your yard maintenance. This will allow homeowners to maximize the amount of water their landscape requires. An irrigation system is a far more effective way to provide your yard the water it craves, as opposed to running the sprinkler for a few hours.

Homeowners have endless options when it comes to custom woodwork. Decks, pergolas, privacy walls, arbors and many other options are possible with wood. Kayu Batu is an extremely high end hardwood that can be incorporated into many applications. Very resistant to decay, wear and dents, Kayu is an excellent choice to bring the luxury of inside outdoors.

The key to enjoyment and the longevity of your yard is quality craftsmanship. Landscaping is a process that’s

YOUR LANDSCAPE OPTIONS INCLUDE CUSTOM DECKS, PATIOS, WALKWAYS, GARDEN BEDS, TREES, SHRUBS, LIGHTING, FENCES, IRRIGATION, DRAINAGE SOLUTIONS, BOULDERS, RETAINING WALLS, WATER FEATURES, AND BARBECUE PITS.

built in layers. Many of the steps are tedious, lengthy and labour intensive.

Progress can seem slow due to the preparative work required, with most typical contracts springing to life in the final few days of construction. Having professionals with the proper knowledge base who use high quality materials is a must.

A locally owned and operated Calgary based company, Landscape 360 specializes in residential, estate and acreage landscape construction. Our philosophy is based upon professionalism, quality, trust and respect. Brad Jackman and Brian Smith lead a team of friendly, knowledgeable and hardworking staff. We have a combined 22 years of experience within the landscape industry. If it is a fully conceptual design you require or a smaller project, we will be happy to help.

Landscape 360. Professional Landscape Construction. 403.452.0360 | landscape360.ca |

like us on facebook SPRING 2015 CALGARY COMMUNITIES 61

Calgary region south 1A

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

2

COCHRANE

STRATHMORE

1

1

CALGARY

CHESTERMERE 797 LANGDON

22X

22X

PRIDDIS

TURNER VALLEY

HERITAGE POINTE

BLACK DIAMOND OKOTOKS

2A

543 22

HIGH RIVER HIGHWOOD LAKE

DEVELOPER: WestView Builders BUILDER: WestView Builders

HAMPTON HILLS

BUILDERS: WestView Builders

MONTROSE

DEVELOPER: Dream Development BUILDER: Lifestyle Homes, Red Door Homes

62 CALGARY COMMUNITIES SPRING 2015

2

PRIDDIS HAWKS LANDING

DEVELOPER: Hopewell Residential Communities BUILDERS: Prominent Homes, Baywood Estate Homes, Trickle Creek Custom Homes, Wolf Custom Homes, Thompson Luxury Homes, Bradmar Homes, Baywest Homes www.hawkslanding.ca

HIGH RIVER

BLACK DIAMOND

HERITAGE POINTE

RIVERWOOD

ARTESIA AT HERITAGE POINTE

DEVELOPER: Riverwood Estates Inc. BUILDERS: Sheep River Homes, Woodmaster Homes

RIVERWOOD ESTATES

BUILDERS: Compass Rose Homes, Sheep River Homes

DEVELOPER: Heritage Pointe Properties Inc. BUILDERS: Astoria Custom Homes, Albi Homes, Calbridge Homes www.liveatartesia.com

Homebuyers’ Help

Homebuyers’ Resource Section You love the home, see what you can afford! » Compare mortgage rates for your best deal

» Calculate your mortgage payments using the mortgage payment calculation chart

SPRING 2015 CALGARY COMMUNITIES 63

Homebuyers’ Help

Calculate your mortgage payments CALCULATE YOUR MORTGAGE PAYMENTS MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

AFFORDABLE MONTHLY PAYMENTS

DIVIDE BY 3

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES & HEAT

TOTAL PRE-TAX INCOME

AMOUNT OF MORTGAGE (PRICE – DOWN PAYMENT)

AMORTIZATION AMOUNT

MONTHLY PAYMENTS

MORTGAGE PAYMENT CALCULATION CHART INTEREST RATES %

AMORTIZATION PERIODS 5 YRS

10 YRS

15 YRS

20 YRS

25 YRS

5.00%

18.84

10.58

7.88

6.57

5.81

5.25%

18.96

10.70

8.00

6.70

5.95

5.50%

19.07

10.82

8.13

6.84

6.10

5.75%

19.18

10.94

8.26

6.98

6.25

6.00%

19.29

11.06

8.39

7.12

6.39

6.25%

19.41

11.18

8.53

7.26

6.54

6.50%

19.52

11.31

8.66

7.40

6.69

6.75%

19.63

11.43

8.79

7.54

6.85

7.00%

19.75

11.55

8.93

7.69

7.00

7.25%

19.86

11.68

9.06

7.83

7.15

7.50%

19.98

11.81

9.20

7.98

7.31

7.75%

20.09

11.93

9.34

8.13

7.47

8.00%

20.21

12.06

9.48

8.28

7.63

8.25%

20.32

12.19

9.62

8.43

7.79

Follow these steps to see if you’ll qualify for a mortgage on your dream home

01 02 03

Calculate the combined monthly before-tax income of you and your spouse.

Divide by three. This figure is the monthly payment you can afford to make on your home.

Take the total price of the home and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

64 CALGARY COMMUNITIES SPRING 2015

04

Refer to the chart on the opposite page. 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 firsttime buyers take the 25-year amortization.)

05

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

06 07

Add to this your estimated monthly heating costs and monthly property taxes.

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 home.

» 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 andget prequalified.

Mortgage interest rates VARIABLE 6 month

1 year

2 years

3 years

4 years

5 years

ATB Financial

2.350

4.000

2.940

2.790

2.790

2.840

2.940

Bank of Montreal (BMO)

2.850

4.000

3.140

3.040

3.800

4.390

4.790

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

4.990

Canadian Western Bank

3.050

4.000

3.140

3.040

3.650

4.200

4.990

Canadian Western Trust

3.050

4.000

3.140

3.040

3.650

4.200

4.990

Effort Trust

-

4.450

3.450

3.600

3.700

4.600

4.950

Equitable Bank

-

-

3.140

3.140

3.800

4.540

4.840

First Calgary Financial

-

4.000

2.890

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

FirstOntario Credit Un.

2.850

4.240

2.990

3.040

3.190

2.990

2.990

HSBC Bank Canada

2.950

4.450

3.540

3.040

3.540

4.240

4.940

Home Trust Company

2.500

3.950

2.690

2.690

2.790

2.790

2.840

ICICI Bank Canada

3.050

-

3.150

3.650

3.640

3.690

3.690

Investors Group Trust

2.850

4.200

3.140

3.140

3.750

4.390

4.790

London Life

2.850

4.200

3.140

3.140

3.750

4.390

4.790

Manulife Bank

2.550

4.450

3.000

3.040

2.940

2.990

2.990

Manulife Trust

-

4.450

3.000

3.040

2.940

2.990

2.990

Meridian Credit Union

2.650

4.000

3.090

2.650

3.650

3.290

2.990

National Bank

2.850

4.400

3.140

3.040

3.750

4.390

4.790

Ontario Civil Service CU

3.000

6.000

3.090

3.090

3.070

3.240

3.290

-

4.500

3.150

3.500

3.750

3.850

3.950

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

3.140

3.140

3.800

4.540

4.840

Servus Credit Union

-

4.000

2.990

2.940

3.440

3.940

4.790

Steinbach Credit Union

-

-

2.750

2.850

2.950

3.050

3.100

T-D Mortgage

2.850

3.140

2.990

2.940

3.440

3.940

4.790

Tangerine

3.000

-

3.190

3.240

3.490

3.690

3.790

Windsor Family C.U.

-

4.450

3.140

3.140

3.750

3.950

3.790

Your Neighbourhood C.U.

-

-

2.990

3.000

3.290

3.450

3.340

Peace Hills Trust

MORTGAGE TYPES

ALL MORTGAGES ARE OF TWO BASIC TYPES: CONVENTIONAL The buyer can borrow up to 80% of the purchase price or the value of the property, whichever is less.

The buyer has to pay 20% down.

A conventional mortgage cannot exceed 80% of the value of the property.

INSURED OR HIGH-R ATIO: A buyer can borrow up to 95% of the purchase price or the value of the property, whichever is less. The down payment can be as low as 5%.

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.

OPEN MORTGAGE: Allows borrowers 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.

CLOSED MORTGAGE: Usually has the lowest interest rate available but lacks the flexible features of other mortgage options.

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: 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.

PREPARED BY CANNEX ON FEBRUARY 3, 2015.

This information is current as of the date and time posted and is subject to change without notice. © Copyright 2015 CANNEX Financial Exchanges Limited. All rights reserved.

SPRING 2015 CALGARY COMMUNITIES 65

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CALGARY & AREA NEW COMMUNITIES SPRING 2015 VOL 6 ISS 1

SOME OF OUR BEST IDEAS START OUTSIDE THE HOME.

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