Edmonton New Condo Guide - Jan 27, 2017

JAN 27 - FEB 24, 2017 VOLUME 25, ISSUE 1, FREE

EDMONTON EDITION

Fox One now complete Fox Two under construction Occupancy summer 2017 At 33 storeys, Fox Two is the taller of the two towers, and is situated at the corner of 102 Avenue and the 104 Street Promenade — downtown Edmonton’s best location.

See our ad inside for full details or visit

WWW.FOXTOWERS.CA

Fox_CGCvr_Dec2016.indd 1

INSIDE THIS ISSUE

WHY 2017 IS A GOOD YEAR TO BUY A HOME

HOUSING AFFORDABILITY: SAME OLD STORY, NEW EXPECTATIONS

CMHC TO INCREASE MORTGAGE INSURANCE PREMIUMS

2016-11-22 1:44 PM

NOW OPEN

IN SPRUCE GROVE

UNDER NEW

MANAGEMENT A GEN U I N E SENSE OF COM MUN I T Y Heritage Creek is a Active Adult gated community in Spruce Grove, ideal for snowbirds, empty nesters and retirees. Heritage Creek is located just minutes from modern, natural and social conveniences such as shopping & restaurants, forested, all-season walking trails and our prized private amenity building. With these conveniences right in your neighbourhood, casual walks will be a daily event.

Info Centres are located at 50 Heatherglen Drive, Spruce Grove and the hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM.

Participating Home Builders:

Christenson Group

Marcson Homes

Trevor Aubichon trevora@CDLHomes.com 780-297-9707

Krista Galenzoski info@marcsonhomes.com 780-466-8831

HeritageCreek.ca

MORE TIME MORE CHOICE

MORE FREEDOM The Name In Active Adult Living With 45 years of experience creating award winning multi-family urban villages for adults and seniors, Christenson Group of Companies has been providing Edmonton and surrounding area with more than just a home.

NEW

E M TH FRO ’

$

ETON PARK ESTATES 5001 Eton Boulevard, Sherwood Park 780.410.0004 • EtonPark.ca • Granite Counter-Tops • Air Conditioning • 9’ Ceilings • Fitness Room • Social Room • Many Occupancy Options Available

L EA ID TION OC A

W SHOME O HNOW OPEN

s 250

VILLAS AT LACOMBE PARK 31 Legacy Terrace, St. Albert 780.903.2465 • LacombePark.ca • Spacious Open Floor Plans • Vaulted Ceilings • Finished Basements • Granite Countertops • Custom Cabinetry • Hardwood & Ceramic Flooring

L

RIVERS EDGE VILLAS 3090 Cameron Heights Way, Edmonton 780.554.8342 • TheRiversEdge.ca • Exclusive Location • Finished Basements • 6 Appliances • Spacious Floorplans • Hardwood & Ceramic Floors • GST Included

Info Centre Hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM.

CDLhomes.com

Building Luxury Lifestyle Communities in the Edmonton area since 1980. abbeylanehomes.com

Suite 200, 10568 109 Street NW Edmonton AB T5H 3B2 780.425.2884

AbbeyLaneHomes

@AbbeyLaneHomes1

info@abbeylanehomes.com

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 5

POWER UP. Your home should work as hard as you do. This is why we believe that great home design can make a big difference every day. While you’re working towards a fulfilled and balanced life, we’re creating homes with extra space, convenience and functionality to help you get there. Our homes are great for now, and for years into the future. It’s time to move up and POWER up with a perfectly designed home from Averton.

PUTTING OWNERSHIP WITHIN EASY REACH.

6 YPNEXTHOME.CA

Averton is giving you POWER. Averton POWER will help you own a home that is within your financial, emotional and lifestyle needs. We will work with you to build a plan that is easy to understand, and even easier to fulfill. To find out more about Averton POWER visit averton.ca/power.

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Se

POWER TIP Are you prepared for a home emergency? Speak with your builder about service and warranty options. It’s important to know how they will deal with maintenance issues that may arise after you move in.

g

1304 Rutherford Road

REDEFINING TOWNHOME DESIGN.

Ellerslie Road & 119 Street

Two to four bedroom townhomes from the mid $200s to over $600,000.

Call 780.701.7296 pivot@averton.ca

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pe

O me

o

h ow

Sh

4003 Blackbird Link

QUICK POSSESSIONS WITH NO CONDO FEES.

137 Avenue & 199 Street

Two and three bedroom townhomes from the $300s.

No

Co

o nd

Call 780.638.0176 starling@averton.ca

es

Fe

QUICK POSSESSIONS NOW AVAILABLE FOR ALL HOMES.

539 Chapelle Drive

Showhome now open. Two and three bedroom townhomes starting in the $300s.

Call 780.638.5873 creekwood@averton.ca

28 Avenue & 141 Street

Get in touch with one of our New Home Professionals to start exploring our showhomes and presentation centres.

Only new home sales are eligible for POWER benefits. POWER benefits are subject to change at any time. See a new home professional for details. Prices and specifications are subject to change without notice. E. & O.E.

averton.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 7

start your search here.

Whether you’re renting or buying, finding your next home has never been so easy.

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 9

Editor’s Note

Can you really afford that home?

LYDIA MCNUTT Senior Editor Yellow Pages NextHome Email: Lydia.McNutt@ypnexthome.ca Twitter: @LydiasTweets

IT LOOKS LIKE RISING HOME PRICES are bringing out the ugly side – or, at least the dishonest side – in some people. Credit reporting agency Equifax Canada identified a 52-per-cent increase in mortgage fraud compared to 2013. (Read the full story on page 42.)

Equifax’s survey also found that one in five Canadians who do not have a mortgage are worried they’ll never own a home because of rising prices, and want to buy a home but can’t because of the down payment.

Here’s yet another interesting tidbit – 13 per cent of Canadians said a “little white lie” on a mortgage application is okay, if it’ll get you the home you want.

To the fibbers out there: by lying on your mortgage application, not only are you committing a crime, you’re lying to yourself. If you weren’t approved for the mortgage based on your actual finances, then what makes you think you can afford it? It’s no wonder that the Bank of Canada is waving a red flag about rising household debt and Canadians’ ability (or, more aptly, inability) to pay up.

Here’s a word to the wise – make a budget and stick to it.

Consider your existing debts, expected mortgage payments, bills and taxes, expenses and lifestyle. Are you secure in your job? How do you envision your life in five years? In 10 years? At retirement? Don’t forget to factor in a potential increase in mortgage interest rates. All things considered, can you afford it?

Don’t overextend yourself in the interest of some extra square footage. You want to live in your home, not for your home.

DOWNTOWN EDMONTON

SEE MORE PHOTOS ONLINE

Downtown Edmonton is in the midst of a huge resurgence. With a number of developments underway, the area is rapidly growing into a vibrant community, transforming into both a residential and commercial area, sporting an increasingly diverse and up-beat nature. Read the full story… nexthome.yp.ca/downtown-edmonton

+ get social 10 YPNEXTHOME.CA

Interact with us on social media: ypnexthome

no condo fees.

You had me at

Only

10

s townhobmlee availa

Enjoy the simplicity of townhome living with single family home details including:

Double Detached Garage

•

6 Appliances

•

Landscaping

•

Basement Rough-In

all with the freedom of no condo fees. Now building in Laurel Crossing, with a new school and community lake, right in your backyard.

Purchase today and receive $500 every month* you wait to move into your new townhome!

Visit our showhomes or coventry-homes.com for more details.

* See Area Sales Managers at any of our showhomes for more details.

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 11

contents JAN 27 – FEB 24, 2017 | VOLUME 25 ISSUE 1

24 + online NEIGHBOURHOOD

HOME SEARCH

MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING

WITH

DYNAMIC MAPS

12 YPNEXTHOME.CA

LOOK FOR THE CIRCLE

homebuyers’ resources

trending

18

14

Web Directory

in every issue

10

Editors’ Note

24 Neighbourhood Profile 44 What’s Online

Mortgage Rules

CMHC to raise mortgage insurance premiums, again

by Wayne Karl

26 Market News

Stable year for Edmontonarea home sales and prices

42 Finances

Increase in mortgage fraud, “suspicious” applications

VICE PRESIDENT & CHIEF PUBLISHING OFFICER

Caroline Andrews PUBLISHER & GENERAL MANAGER

Shawn Woodford DIRECTOR OF SALES

Moe Lalani SENIOR MANAGER, CONTENT

JAN 27 - FEB 24, 2017 VOLUME 25, ISSUE 1, FREE

Jennifer Reynolds

ON THE COVER

Fox Towers

EDMONTON EDITION

Fox One now complete Fox Two under construction Occupancy summer 2017 At 33 storeys, Fox Two is the taller of the two towers, and is situated at the corner of 102 Avenue and the 104 Street Promenade — downtown Edmonton’s best location.

by Langham Developments Limited

See our ad inside for full details or visit

WWW.FOXTOWERS.CA

SENIOR SALES MANAGER, WESTERN CANADA

Shelley Balla SENIOR EDITOR

Lydia McNutt ART DIRECTOR

Megan Pike CONTRIBUTING EDITORS

Sonia Bell Wayne Karl Elisa Krovblit DESIGN EDITOR

Yanic Simard

SALES REPRESENTATIVES

Shelby Biggs 587.357.7402 Natalie Houghton 587.226.1313

NATIONAL CIRCULATION MANAGER Fox_CGCvr_Dec2016.indd 1

INSIDE THIS ISSUE

WHY 2017 IS A GOOD YEAR TO BUY A HOME

HOUSING AFFORDABILITY: SAME OLD STORY, NEW EXPECTATIONS

CMHC TO INCREASE MORTGAGE INSURANCE PREMIUMS

2016-11-22 1:44 PM

John Jenkins

48 Homebuyers’ Help

PRODUCTION MANAGER

Why 2017 is still a good year to buy a home

38

by Wayne Karl

Helen Pearce PRODUCTION CO-ORDINATOR

Hannah Yarkony GRAPHIC DESIGNERS

Miguel Cea Mike Terentiev

PO Box 458. Station Main, Edmonton, AB T5J 2K ypnexthome.ca

58 Interest Rates

Bank of Canada holds interest rate steady

advice

28 CHBA Alberta

A new era of energy efficiency

by Donna Moore

36

Home Sweet Home

Housing affordability: Same old story, new expectations

by Lydia McNutt

district maps Downtown

Call 587.784.4044 for advertising rates and information.

29

North West

CIRCULATION

31

St. Albert

33

Fort Saskatchewan

Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments.

35

North East

37

Sherwood Park

COPYRIGHT 2017

39

Beaumont

Inspiration

41

Leduc

38

43

Southeast

45

Southwest

51

Spruce Grove

53

West

55

South Central

Style File

The perfect LBD: Little Black Decor

by Elisa Krovblit

56 Top List

Hit the slopes from coast to coast

by Megan Jones

ADVERTISING

19

All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited.

Contents of this publication are covered by copyright and offenders will be prosecuted under the law.

TERMS

Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL

Submissions from interested parties will be considered. Email submissions to the attention of the editor at lydia.mcnutt@ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 13

Trending

CMHC to increase mortgage insurance premiums, again

By Wayne Karl

CANADIANS ARE ABOUT TO FACE

yet another potential homebuying hurdle, as Canada Mortgage and Housing Corp. (CMHC) has announced that it is increasing its homeowner mortgage insurance premiums effective March 17, 2017.

Unlike the latest changes to mortgage regulations, announced late last year, this newest round is expected to have a minor impact.

CMHC says the higher premium will result in an increase of just $5 to the monthly mortgage payment of the average CMHC-insured homebuyer.

“We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” says Steven Mennill, senior vice-president, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.”

“The increase in premiums for high ratio mortgages will have a minor effect on the average Canadian,” James Laird, co-founder of RateHub and president of CanWise Financial, told YPNextHome.

“Relative to the rule changes that were implemented in late 2016, this is not a major change. Premiums will be increased for all of those Canadians with less than 20 per cent down, but these premiums are added on to the mortgage and paid off over the life of the mortgage, so the cash required on closing does not change. This change specifically will not impact the borrowing habits for the majority of high ratio clients.”

Using RateHub’s mortgage payment calculator, based on an average home price of $730,472 with a minimum down payment of 6.6 per cent (or $48,047), the 14 YPNEXTHOME.CA

current premium is 3.6 per cent of the mortgage amount (purchase price less down payment). For that mortgage amount of $682,425, the CMHC premium is $24,567. With the new premium at four per cent of mortgage amount, the CMHC premium becomes $27,297 – an increase of $2,730. This translates to a mortgage payment increase of approximately $12 per month (based on today’s best rate of 2.44 per cent, amortized over 25 years).

If that buyer has an 18-per-cent down payment, the total down payment would be $131,485. At the current premium of 1.8 per cent of the mortgage amount, that buyer is paying $10,782 in CMHC insurance.

At the new premium of 2.8 per cent of the mortgage amount, the CMHC premium becomes $16,772 – a $5,990 difference for that buyer. This translates to a mortgage payment increase of approximately $27 per month (based on 2.44 per cent amortized over 25 years), RateHub says.

Capital requirements are an important factor in determining mortgage insurance premiums.

The changes reflect the Office of the Superintendent of Financial Institutions’ new capital requirements that came into effect on Jan. 1 of this year that require mortgage insurers to hold additional capital. Capital holdings create a buffer against potential losses, helping to ensure the long term stability of the financial system.

Prior to the mortgage rule changes...

• The average CMHC-insured loan was approximately $245,000.

• The average down payment was approximately eight per cent.

• The average gross debt service ratio (GDS) was 25.6 per cent. To qualify for CMHC insurance, a homebuyer’s GDS should not exceed 32 per cent of their total monthly household income.

Premiums are calculated based on the loan-to-value ratio of the mortgage being insured. The premium can be paid in a single lump sum but more frequently is added to the mortgage principal and repaid over the life of the mortgage as part of regular mortgage payments.

MORE TRENDING ONLINE ypnexthome.ca/news

RAY GIBBON DR.

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137 Ave.

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James Mowatt Trail

127 St.

141 St.

170 St.

Cameron Heights Drive

*LEERQV

Interchange

28A

EDMONTON & REGION Check Each Area District Map For More Information

&DOPDU

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 15

MANNING Home. It’s where we live, grow, and dream. It is our sanctuary—our special place to

go where we always belong. Make your home at Elements Manning, a community within a community, where you will find affordable, contemporary living spaces amongst every amenity imaginable. Let’s explore… because everyone knows that it always feels good to come home.

YOUR HOME From the moment you step inside Elements Manning, you will notice its clean, sophisticated details and contemporary designer finishes in the corridors and common areas. Each suite is finished beautifully and has laminate flooring throughout suite entry, kitchen, living and dining areas. Your kitchen comes equipped with contemporary cabinets in designer colours, stylish laminate countertops, a four-piece stainless steel appliance package, built-in dishwasher, space-saving microwave range hood, and convenient flush eating bar. In-suite laundry with stacking washer and dryer is standard, as is the designer lighting package and decora-style switches.

Currently, there are two showsuites open for viewing: The Argon III and Cadmium II. The Argon III suite is a 755 square foot floorplan that features two bedrooms and two full baths. The master bedroom has a large 16 YPNEXTHOME.CA

walk-through closet that connects to a four-piece ensuite. It has an open concept kitchen, dining and living space—great for entertaining. There is a tech area, large pantry, linen closet, along with the in-suite laundry.

Relax on the large 208 squarefoot wrap-around balcony—one of this suite’s very best features.

The 888 square-foot corner suite Cadmium II is a very bright, open concept 2 bedroom, 2 bathroom suite with separate dining area for extra dining space. The bedrooms are located on opposite sides of the suite to ensure privacy. The master has a large walk-in closet and four-piece ensuite. Relax on the large 208 squarefoot wrap-around balcony—one of this suite’s very best features.

YOUR NEIGHBORHOOD Manning Village—designed around the concept of a village—is a place where every amenity is only steps away. It’s a place to belong, where community means more than just the home you live in. There are walking paths and a central pond, perfect for getting out and about to meet your neighbors.

Manning Village is also walking distance to the new Manning Town Centre, Edmonton’s newest open-air shopping and entertainment destination. It features a ten-screen Cineplex Odeon theatre; prime retailers like Cabela’s, Lowe’s, Marshall’s and Homesense, among many others; and restaurants such as Chili’s and Boston Pizza.

Transportation options abound at Manning Village.

ETS bus service commenced on September 6 and the Clareview and Belvedere Transit Centers are just a fiveminute and nine-minute drive, respectively. Plus, Manning Village is easily reached by both Yellowhead and Anthony Henday via Fort Road/Manning Drive. It truly is located for convenience.

SPECIAL OFFER Elements Manning is open Monday – Thursday, 3:00pm-8:00pm, Saturday, Sunday, and Holidays noon – 5:00pm. Come in and ask Jamie about our amazing promotions with up to $15,000 off select suites. Come tour our beautiful showsuites, the Cadmium and Argon III and see everything the building and community has to offer. You won’t want to miss this “suite” opportunity!

NORTHEAST

Call Jamie at 780.705.9035 142-Ebbers Boulevard NW

SALES HOURS

Mon to Thurs 3PM -8PM Sat, Sun, holidays 12PM - 5PM Closed on Fridays

elementsbycarrington.ca

Web Directory BUILDERS/DEVELOPERS Abbey Lane Homes Addison Condos Californian Parkland

BUILDERS/DEVELOPERS www.abbeylanehomes.com www.theaddisonoffwhyte.com www.vipliving.ca

Carrington Communities

www.carrington.ca

Cascade Luxury Condos

www.cascadecondos.ca

Centurion Townhomes Christenson Developments Ltd. Coventry Homes Daytona Homes Master Builder Encore Tower Footprint Developments Fox Two Grovenor Manor

www.centuriontownhomes.com www.cdlhomes.com www.coventry-homes.com

Secord Corners Solara at Skyview Stafford Greens Symphony Tower Tessco Incorporated

The Vermillion

www.foxtowers.ca www.grovenormanor.com

Homes by Avi

www.homesbyavi.com

Park Homes

Secord Chalet

www.encoretower.com www.footprintdevelopments.ca

www.landmarkgroup.ca www.langbuilthomes.com www.parkhomes.ca

www.parkwoodmasterbuilder.com

Rohit Communities

The Leger

www.grandedesign.ca

Lang Built Homes

Parkwood Master Builder

www.daytonahomes.ca

Grande Design Homes

Landmark Group

Find your next condo online, it’s easy!

The Rushes of Southfork The Signature

www.rohitcommunities.com www.secordchalet.com www.secordcorners.ca www.solaraliving.ca www.staffordgreens.com www.symphonytower.ca www.edmontoncondo.com www.brass3.com www.vermillioncondos.com www.rushesofsouthfork.ca www.signatureambleside.com www.ultimatower.ca

Ultima

RELATED BUSINESS Canadian Home Builders’ Association – Alberta

www.chbaalberta.ca

Canadian Home Builders’ Association – Edmonton

www.chbaedmonton.ca

Dangie K-9 Service Inc. Your Condominium Security Specialists

››

www.dangiek9services.com

If you wish to advertise your Web site in our Web Directory please call 587-784-4044

18 YPNEXTHOME.CA

Downtown Edmonton 118 Ave. 112 Ave.

102 Ave.

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8

Jasper Ave. 100 Ave.

106 St.

Victoria Park Rd. Rive r Va lley Rd

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100 St.

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105 St.

116 St.

109 St.

127 St.

142 St.

144 St.

107 Ave.

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KINNARD RAVINE

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95 S

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104 Ave.

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97 St

124 St.

111 Ave.

101 St.

111 Ave.

LOW LEVEL BRIDGE JAMES McDONALD BRIDGE

DAWSON BRIDGE

Bellamy Hill HIGH LEVEL BRIDGE 105 ST BRIDGE

MAP LISTINGS

1 THE ULTIMA

North Saskatchewan River

BY WESTRICH PACIFIC

BY WESTRICH PACIFIC

11 121 WEST CONDOS AT HIGHSTREET DISTRICT

10244 - 103rd Street

103 St. & 102 Ave.

BY REGENCY DEVELOPMENTS

2 THE FOX

6 ENCORE

7 JASPER HOUSE

BY LANGHAM DEVELOPMENTS

BY LAMB DEVELOPMENT CORP

104 Street & 102 Avenue

Jasper Ave. & 106 Street

3 SYMPHONY

BY ROCKWOOD PROPERTY MANAGEMENT

9704 - 106 St. 4 VIBE

BY CARRINGTON COMMUNITIES

10604 116 Street 5 ICON

BY LANGHAM DEVELOPMENTS

Jasper Ave., North of 104 St.

8 GROVENOR MANOR

BY PELHAM MASTER BUILDER

121 Street & 105 Avenue 12 WEST BLOCK

BY BEAVERBROOK IN HOUSE DEV

Corner of 142 St & Stony Plain Road

10126 – 144 Street 9 THE LEGENDS

BY WAM

104 Ave. & 102 St. 10 PEARL

BY REGENCY DEVELOPMENTS

Jasper Avenue & 119 Street.

SEARCH ONLINE ypnexthome.ca

STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA

WITH LOCATIONS THROUGHOUT EDMONTON, CARRINGTON HAS SOMETHING FOR EVERYONE.

Please see our ad between pages 18 and 19

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 19

Own a luxurious condo on Edmonton’s most desirable downtown street Live in downtown Edmonton’s best location

Fox Two sits on the corner of 102 Avenue and the 104 Street Promenade. This eclectic street was once the heart of Edmonton’s warehouse district and is now a friendly urban neighbourhood populated with a unique mix of residential condos, independent shops and first-rate restaurants. A variety of entrepreneurial businesses and professional offices also call this street home—there is even a local Farmers’ Market held every Saturday throughout the summer months.

Invest in the future of Edmonton

Whether your focus is investment, education, entertainment or lifestyle, Fox Two is ideally situated to take advantage of the very best Edmonton has to offer.

Many of Edmonton’s secondary education facilities are either within walking distance: Grant MacEwan University, the University of Alberta City Centre Campus, or a sevenminute LRT ride away: the University of Alberta Main Campus and NAIT.

20 YPNEXTHOME.CA

DOWNTOWN

Summer 2017 occupancy A short walk to the east you’ll find Edmonton’s bustling financial district, city centre shopping and YMCA fitness centre. Directly north is Rogers Place—Edmonton’s brand-new, state-of-the-art sports and entertainment venue—which includes the surrounding Ice District with five-star hotels, world-class dining and multi-plex cinema.

The building’s fluid articulation and elegant contours ensure its longevity and timeless beauty. A breathtaking glass curtain wall and large windows offer sweeping city views, while efficient, well-designed suites maximize living space and promise stylish functionality.

The ultimate urban lifestyle

• Spacious 2- and 3-bedroom units still available on various floors

Edmonton transit is easily accessed from Fox Two, with several bus stops and two major LRT stations on 104 Street—offering fast access to destinations like West Edmonton Mall, Southgate Mall and Commonwealth Stadium—even the international airport is easily reached via Edmonton’s transit system.

Nature too is right outside your door with Edmonton’s unique river valley—the largest urban park in Canada— bordering the downtown core to the south. Enjoy over 18,000 hectares of hiking and biking paths meandering along the beautiful Saskatchewan River, try boating or fishing, even play a round of golf at Victoria Golf Course—all within minutes of Fox Two.

Unparalleled architectural excellence

A project of superior design and quality, Fox Two is the taller of the Fox Towers project at 33 storeys and is your last opportunity to own a brand-new, upscale condo on Edmonton’s best downtown street.

• Summer 2017 occupancy

• Well-appointed units with superior-quality finishes including quartz countertops, high gloss cabinetry, top-grade flooring and stainless steel appliances all come standard • All remaining suites have air conditioning and at least 1 private balcony • At least 1 heated and secured parking stall included in purchase price • Three high-speed elevators

Another project by Langham Developments Ltd.

Since 2001, Langham Developments has played the most significant role in rejuvenating Edmonton’s downtown core.

Listed among Edmonton’s most experienced and reputable high-rise builders, Langham Developments has completed 4 outstanding downtown high rises to date: The Omega, Icon Tower I, Icon Tower II, and the first phase of the Fox Towers project: Fox One.

The completed and fully occupied Fox One and neighbouring Fox Two currently under construction.

Visit our on-site Sales Centre located on 104 St. just north of 102 Ave.

www.foxtowers.ca | 780.425.0369

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 21

DOWNTOWN

The Vermillion

• Concrete & steel construction • 10 foot and 2 storey ceilings • Loft style, roof decks, balconies • Luxe 63 units with A/C • Underground parking

$20,000 OFF Prices!

Limited time offer.

Starts at $248,000 and up, plus GST

The Vermillion 10611 - 116 Street in Oliver/Downtown www.vermillioncondos.com

VISIT SALE CENTRE at 10351 - 92 St. (on Jasper Ave.), Edmonton 780.475.5999 Sandy Pon and Associates REMAX Excellence

Gary Chun Yuan Centry 21 Platinum Realty

780.710.7101

780.707.6909

Realtor Referrals welcome. Registration conditions apply.

SALE CENTRE IS NOW OPEN 22 YPNEXTHOME.CA

For complete promotion details please contact sale associates or visit our show room centre. Terms and conditions apply. Some suites may be excluded. Promotion may end without notice. Cannot be combined with any other offers. E & OE.

43

COMING TO 103 ST. & 102 AVE. EXPECTED COMPLETION MID 2020

STORIES

PRIME LOCATION ADJACENT TO THE ARENA DISTRICT, AND JUST STEPS AWAY FROM THE FINANCIAL DISTRICT, SHOPPING, & DINING UNPARALLELED AMENITIES INCLUDING CONCIERGE SERVICE, SUN DECK WITH WADING POOL AND PRIVATE CABANAS, FITNESS ROOM, INDOOR LOUNGE WITH INDOOR/OUTDOOR FIREPLACE AND EXTENDED ENTERTAINMENT BAR

OUTSTANDING INTERIOR FINISHES, WITH FLOOR TO CEILING WINDOWS IN EVERY SUITE. TWO AND THREE DIRECTIONAL VIEWS IN EVERY SUITE! LOCATED ON THE CORNER OF 103 STREET AND 102 AVENUE

$799,000

PLAN

$459,000

PENTHOUSES starting from

20 feet of floor to ceiling windows facing West

A

2 BEDROOM Suite 1484 sq.ft.

Balcony 84 sq.ft.

DW

WD

20 feet of floor to ceiling windows facing East 8' - 10"

2 BED - 812 S.F. starting from

BENCH

11' - 6"

8' - 10"

11' - 2"

18' - 11"

16' - 9"

20' - 2" 19' - 2"

60 feet of floor to ceiling windows facing South Sales centre located at 10609 104 AVENUE

encore@westrichpacific.com

780.803.8777

Neighbourhood Profile

Downtown Edmonton Transforming into the future

By Sonia Bell DOWNTOWN EDMONTON is in the midst of a huge

resurgence. With a number of developments underway, the area is rapidly growing into a vibrant community, transforming into both a residential and commercial area, sporting an increasingly diverse and up-beat nature.

The lifestyle Known for an abundance of events, Edmonton has established itself as “The Festival City.” Churchill Square holds a number of festivals in the summer pertaining to music, performing arts, visual arts and sports. The art district is also well known, contributing to the artistic appeal of the downtown core.

24 YPNEXTHOME.CA

The vibe Downtown Edmonton epitomizes versatility. The area offers trendy shops and boutiques, beautiful views and landmarks, and is a financial hub for the city. It has a sense of vibrancy that is continually on the increase and hosts many festivals right in the heart of downtown, contributing to the neighbourhood’s vitality.

Meet the neighbours The downtown area has a diverse crowd. The neighbourhood attracts young professionals and students who wish to live near work and school, while at the same time enjoy nearby restaurants and pubs. Artistic types are

TAKE A VIDEO TOUR ONLINE nexthome.yp.ca/downtown-edmonton

Planes, trains & automobiles There are five LRT stations throughout downtown and buses that stop at malls, major attractions and offices. A 13-kilometre indoor pedway links to major shopping centres, restaurants and the movie theatre, so you don’t have to brave the cold in winter. The ‘vroom’ service is a direct shuttle bus to West Edmonton mall, the largest mall in North America.

drawn to the art district, comprising a musical theatre, theatre school, galleries and museums.

In the area The real estate market has grown rapidly over the past few years, with homes in high demand. Similar to many downtown neighbourhoods, the average cost of living downtown is greater than the overall average for the city.

Real estate The Downtown Edmonton real estate market is flourishing. Billions of dollars have been invested in the rejuvenation of the city, where a number of new developments, such as highrise condos and restaurants, are attracting more people to the downtown core. As the city’s population rises, there is an increasing demand for residential real estate.

Consequently, property prices and rent are beginning to climb.

Fast facts Average household income

$65,337 Family structure

FAMILIES

COUPLES

SINGLES

8%

34%

58%

Own vs. rent

71%

RENTERS

29% OWNERS

Most common home type HIGHRISE

SOURCE: ENVIRONICS

Sonia Bell works at Yellow Pages NextHome to get the inside scoop on what’s trending in real estate, renovation and decor. She has her Masters in Communications, specializing in media, and loves writing about all things real estate.

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 25

Trending

A stable year for Edmonton-area home sales and prices

STABILITY WAS THE PREVAILING THEME of Edmonton’s housing market

in 2016, according to the Realtors Association of Edmonton.

Prices experienced only modest decreases. Condominiums inched downward a negligible 0.53 per cent, and single-family homes dropped only 0.86 per cent, relative to 2015.

Duplexes and rowhouses, which account for approximately 10 per cent of all unit sales, saw the greatest decline in prices, down 5.22 per cent over 2015.

Sales numbers also took a dip, with the Association reporting a total of 16,170 homes sold in 2016, versus 17,325 in 2015. Average days on market for 2016 for all sold units was 57 – up six days from the average 51 days in 2015. The overall sales-to-listing ratio was 52 per cent, indicating a fairly balanced market.

“2016 was a steady year for real

26 YPNEXTHOME.CA

estate in Edmonton and many of the surrounding communities. The ongoing economic instability certainly affected unit sales and inventory, but sale prices have continued to hold,” said James Mabey, chair of the Realtors Association of Edmonton.

In December 2016, Edmonton-area home sales were up 0.42 per cent from December 2015. This stability was reflected across all property types, which showed little change year-over-year. Single-family home sales were down only 2.53 per cent, condominiums were unchanged and duplexes/rowhouses increased 19.44 per cent from December 2015.

As is typical for the winter, December’s average days on market increased across all categories relative

to the previous month. Singlefamily homes took on average 62 days to sell, compared to 52 days in November 2016. Duplexes and rowhouses sat on the market for an average of 78 days, compared to 74 days in the previous month.

Condominiums took the most time to sell, with an average 80 days on market – only one day longer than November 2016.

Overall, inventory for December in the Edmonton area was 5,208, which is down 19.8 per cent relative to November 2016 and up 2.4 per cent year-over-year.

“Now that the 2016 holiday season is behind us and a new year is here, we expect listings and sales to begin to increase again,” said Mabey.

MORE TRENDING ONLINE ypnexthome.ca/news

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JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 27

Advice | CHBA ALBERTA

A new era of energy efficiency

By Donna Moore

MORE ADVICE ONLINE ypnexthome.ca/news/advice

THE ENERGY EFFICIENCY OF HOMES is getting plenty of media

attention these days as the provincial government focuses on reducing greenhouse gas emissions.

At a recent news conference, Municipal Affairs Minister Danielle Larivee highlighted the transition to new construction codes for buildings.

“A more energy-efficient home is a comfortable home, one that keeps the heat in, the cold out and money in your pocket. These new requirements will ensure that Alberta continues to be a leader in the fight against climate change and a competitor in the carbon-constrained economy,” Minister Larivee told reporters.

Changes included updating or adopting a half dozen codes, including building, energy and electrical standards. Alberta’s buildings of all types – residential, commercial, industrial and institutional – are responsible for about seven per cent of greenhouse gas emissions.

For new-home buyers, this will mean more energy-efficient windows, lighting, building envelope, insulation, heating, service-water heating, ventilation and air-conditioning.

In addition to lower energy bills, homes will be more comfortably and evenly heated. Tighter air sealing will have another benefit – quieter homes that screen out more noise from outdoors.

While the code changes may be news to Albertans, they come as no 28 YPNEXTHOME.CA

surprise to CHBA members who make it a priority to stay on top of changes in the industry.

Builders have been getting ready for the recent energy efficiency code changes for the last couple of years, and many were already exceeding the new code requirements when they took effect on Nov. 1.

Development of new energy codes starts with the National Research Council and includes a procedure that gathers input from all three levels of government, the construction industry and the public.

It’s a rigorous process that dates back to development of the first National Building Code in 1941, when construction technologies and techniques were vastly different from today. To ensure that the latest innovations are applied safely, a new edition of the national code is published about every five years.

That means new codes are always coming down the pipe for adoption by individual provinces. For example, updated natural gas and private sewage codes kick in on Jan. 1, and a new round of energy efficiency

changes is already in the works that will continue to raise the bar for new homes.

Construction codes are just one of the increasingly complex challenges involved in building a new home these days.

CHBA members in Edmonton meet monthly to hear expert presentations to help them stay ahead of the curve. The annual Residential Construction Industry Conference provides technical presentations on advancements in building science and updates from suppliers and manufacturers on the latest technologies.

Check out the resources online at chbaedmonton.ca to learn more about the advantages of owning a new home and to find builders who take pride in staying at the forefront of innovation.

Donna Moore is CEO of the Canadian Home Builders’ Association – Alberta.

CHBA – Alberta represents over 1,600 business members including new home builders, renovators, developers, trade and supply companies, and professional services.

North West Edmonton City Boundary

12 176 Ave. Castle Downs Rd.

2 3

162 A ve

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135 St.

7 132 Ave.

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yfi

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a whe 118 Ave.

o Yell

109 St.

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nd ay

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lbe

215 St.

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5

137 Ave.

11 13

A St.

9

153 Ave. 6 14 1

8

1424Ave.

121 St. 113A St.

150 Ave.

97 St.

148 Ave.

153 Ave.

127 St.

Campbell Rd.

167 Ave.

Stony Plain Rd.

MAP LISTINGS

1 COVENTRY HOMES Castle Downs Rd. & McCrae Ave.

6 VALOUR

2 ALBANY TRAILS

7 BELLWETHER PARK 132 Ave. & 132 St.

BY FOOTPRINT DEVELOPMENTS

138 St & 167 Ave. 3 AVIVA

BY CARRINGTON COMMUNITIES

507 Albany Way 4 ALTIUS SKYVIEW

BY STREETSIDE DEVELOPMENTS

12815 Cumberland Rd. 5 ALOFT SKYVIEW

BY STREETSIDE DEVELOPMENTS

12804 - 140 Ave.

BY ROHIT COMMUNITIES

2407 Sparrow Crescent

BY CARRINGTON COMMUNITIES

508 Griesbach Parade NW

12 LEGACY POINTE

BY CONCEPT HOMES MASTER BUILDER

18230 - 104A Street

8 THE HARMONY

13 STARLING AT BIG LAKE

BY P2000 DEVELOPMENTS

BY ROHIT LAND DEVELOPMENT

Sales Center 14904-125 St

137 Ave & Ray Gibbons Dr.

9 STARLING LANDING

14 JUNO TOWNHOMES

BY ROHIT COMMUNITIES

BY SLOKKER CANADA WEST

2405 Sparrow Common

2570 Pegasus Blvd.

10 URBAN CENTURY

BY FOURCHA GROUP

14705-125 Street 11 STARLING DUPLEXES

SEARCH ONLINE ypnexthome.ca

Move in this

new year with SAVINGS UP TO

$15,000 508 Griesbach Parade NW

NORTHWEST EDMONTON | Call Mick 780.760.2002

CONDOS FROM $234,900 STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 29

The Harmony THE PERFECT BALANCE OF DESIGN, AFFORDABILITY AND LOCATION

M

ost people today are looking for some sort of balance in their lives. Whether that’s finding work/life balance or balancing time with family and time with friends, very few people have perfect harmony in their lives. So for those seeking balance between where they live and affordability need to look no further than P2000 Development’s new project, The Harmony in northwest Edmonton.

Located in the newly established community of Baranow, The Harmony is perfectly located for anyone who likes having lifestyle and professional amenities within walking distance. There are four grocery stores nearby, along with a YMCA, rec centres, golf courses, Londonderry Mall, restaurants, cafes, pharmacies and more. It’s also close to Christy’s Corner and the shops at Skyview Power Centre.

“We’ve been holding on to this land for five years now. It’s such a great location and we wanted to build something special here,” says David Phan of P2000 Developments. They build one project at a time, and wanted to make sure the time was right and community was established for their homebuyers. Phan: “Everything is already there, so it’s a very attractive location.”

Of course, location is not the only thing Phan focusses on. “We also wanted to build something with a beautiful exterior,” David Phan explains. He continues: “Something that’s pleasing to the eye, first and foremost.” That includes The Harmony’s wrought iron fencing around the building and stone pillar accents. Gone are the typical vinyl or stucco exterior, and instead the building features hardie boards that are water and hail resistant.

Phan also has a keen eye on green building practices, and is installing a metal roof on The Harmony—something typical for commercial not residential buildings.

“Basically, you don’t need to replace the roof in the building’s lifespan, so we’re not using resources that need to be replaced in the future.” There are LED lights throughout to reduce energy consumption and R40 rooftop insulation that can reduce building energy costs by up to 40%.

The Harmony has modern bachelor, one-bedroom, one bedroom + den and two-bedroom suites that range from 463 sq. ft to 915 sq. ft. (One unique feature of the bachelor condos are built-in, custom Murphy bed).

All suites have quartz countertops in the kitchen and bathrooms, stainless appliances, and luxury vinyl board flooring throughout (with a lifetime warranty).

The custom-made kitchen and bathroom cabinetry are two-toned and come with soft-closing hinges. French doors separate the suites from the balconies, and are designed to keep in the heat during the winter. Plus, all suites come with window coverings and in-suite washer and dryers.

Suites range from $173,000 to $300,000, and preselling starts this October. Move in is expected to begin in mid-2018.

For more information about The Harmony, visit theharmony.ca or visit the sales trailer onsite at 14904 – 125 Street NW Edmonton

St. Albert ros e Dr.

Keil lor Dr.

Sturg eon Rd .

ud re au

e.

Poirier Av

Rd .

Rd .

Dr. ins k t A

1 CITADEL VILLAGE

TO

tT r.

167 Ave.

ED

M

156 St.

St. Al be r

Boudreau Rd. Campbell Rd.

. ve lA l i h urc Ch

170 St. Gerva is

184 St.

Levasseur Rd.

MAP LISTINGS

Bo

Av e.

Ga te

n eo rg Stu

ton ins W Sir

er Riv

2

Ro ad He be rt

ve. yA enn K c M

ron Per

Lacombe Dr.

3 4

. x Rd irou

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lle Be

1 ert .

St. Alb

G

Element Dr. Erin Rid ge Dr.

TO MORINVILLE

3

ON

TO N

THE LINX

BY CHRISTENSON GROUP

BY CHRISTENSON GROUP

St. Albert Trail & Ridge Drive

88 Lacombe Drive

2 BOTANICA

BY BOUDREAU DEVELOPMENTS LTD.

4

THE TERRACES

BY CHRISTENSON GROUP

88 Lacombe Drive

105 Bellerose Drive

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 31

ST ALBERT

G

T N VE E G N I EN OW P O N D N RAN O

A VIBRANT NEIGHBOURHOOD IN THE HEART OF ST. ALBERT Join us to celebrate this new parkside community.

Discover the first release of homes at Parc Residences, offering 1, 2 & 3 bedroom homes.

Starting from $199,900 (including underground parking).

Presentation Centre & Show Homes 104 - 5 St. Louis Street, St. Albert (entrance off Grandin Road) Open Daily 12 - 5pm (closed Friday)

780 458 6688 | GrandinParcVillage.com The developer reserves the right to modify the information contained herein without notice. Prices are subject to change.

32 YPNEXTHOME.CA

Fort Saskatchewan 37

ive r

St

99 Av e

89 94 Av e

21 for uth So

88 Av e

e Av 86

Range Rd 224

98 Av e

1

St 94 r tD

94 Ave

St 82

St

Wes t

k Lin o d brid ge

Wilshi re

116 St

St

92

We stp a Blvd rk

Township Rd 543

MAP LISTINGS

e Av 92

87 Ave

Dr rk pa

Wo

86 St

15

98 Ave

93

Ave 95a

83 Ave

e Av

ve 97 A

Ave 96

84 Ave

113 St

99

91 St

R an ew h c kat Sas rth o N

112 St

St 101

99

e Av

85 Av e

e Av 99

15

Township Rd 544

Sou thfo Blv rt d

d Blv

1 CLIO

BY PARK HOMES

#94th St Southfort Drive

WELCOME TO FORT SASKATCHEWAN A quiet, friendly, family oriented community.

“Move in Next Door...

Neighborly Fort Saskatchewan”.

POPULATION Over 24,000 LOCATED Adjacent to the northeast boundary of the provincial capital, the City of Edmonton & 30 km from downtown Edmonton SCHOOLS 6 Public Schools, 3 Separate Schools, 1 Christian School

GROCERY Co-op, Safeway and No Frills RECREATIONAL FACILITIES Dow Centennial Centre, Tennis courts, campground, golf courses, bowling lanes, baseball diamonds, indoor pool, outdoor ice rinks (2), curling rinking, indoor soccer, gymnasium, fitness centre

MEDICAL FACILITIES Hospital, local ambulance, 5 medical clinics PARKS & PATHWAYS 360 hectares of park/recreational/ natural land with 29 km of paved trails for walking, running, biking, rollerblading & cross-country skiing

For more information contact Tanya Stillborn (780) 992-6408 or visit our website at www.fortsask.ca or e-mail: tstillborn@fortsask.ca

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 33

Canadian

PROPERTY INVESTOR

Vancouver | Toronto | Ottawa | Calgary | Edmonton

ON STANDS NOW!

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Read the digital issue on

Available at these locations: • YP NextHome street boxes

• Airport lounges • Transportation hubs

• Newspaper insertions

• Street retail racks

• Select hotels

• Direct mail

North East Edmonton 8

3 ve.

A 7 3 1

Rd .

137 Ave.

Fo rt

132 Ave.

120 Ave. 95 St.

118 Ave.

121 Ave.

.

Ave d.

112 Blv a Ad

CAPILANO BRIDGE

MAP LISTINGS

1 TOPAZ

38 St.

58 St.

122 Ave.

Hooke Rd. Hermita ge Rd. YEL LOW HEA DT RAI L 34 St.

129 Ave.

127 Ave.

20 St.

2

151 Ave.

.

Ave 144

Victoria Tr.

144 Av e.

M Fo ANNIN GF rt WY. Rd .

34 St.

50 St.

66 St.

7

22 St.

9

1675Ave.

11

87 St.

.

160 Ave . e v A 153

195 Ave.

4

82 St.

97 St.

91 St. 1

104 Ave. North Saskatchewan River

5 ELEMENTS AT MCCONACHIE

BY PARK HOMES

70-8318 180 Ave.

9 CY BECKER DUPLEXES

BY ROHIT COMMUNITIES

118 Cy Becker Blvd.

BY CARLISLE GROUP

2 ELEMENTS MANNING

BY CARRINGTON COMMUNITIES

142 Ebbers Blvd. NW

167 Ave. & 53 Street

10 KIRKNESS

6 KERNOHAN RAVINES 415 Clareview Rd.

3 SAVIDA

BY LANDMARK HOMES

3650 - 139 Avenue NW

BY LANDMARK HOMES

415 Clareview Rd.

BY LANDMARK HOMES

11 ALTIUS CRYSTALLINA

7 CASSELMAN LANDING

BY STREETSIDE DEVELOPMENTS

17832 78 St.

BY ROHIT COMMUNITIES

#1, 5203 - 149 Ave.

4 NORTHSHORE

BY CARRINGTON COMMUNITIES

5510 Schonsee Dr.

8 ALTIUS CY BECKER

BY STREETSIDE DEVELOPMENTS

165 Cy Becker Blvd.

SEARCH ONLINE ypnexthome.ca

NORTHEAST EDMONTON Call Jamie 780.705.9035

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JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 35

Advice | HOME SWEET HOME

Housing affordability: Same old story, new expectations

By Lydia McNutt

MORE ADVICE ONLINE ypnexthome.ca/news/advice

AS THE SAYING GOES, good things come in small packages. In fact, this may be the mantra for many homebuyers in 2017, given the steady rise in real estate prices.

National housing affordability hit an eight-year low in the third quarter of 2016, according to the latest Housing Trends and Affordability Report issued

by RBC Economics Research.

In Edmonton, single-family detached homes measured in at 38.5 per cent, and condos at 23.1 per cent.

What does this mean? Those dreaming of a single-detached, twostorey life in Edmonton should expect to shell out 38.5 per cent of their pre-tax income – providing they earn at least an “average” income.

Edmonton’s numbers are much more digestible when compared to the hard-to-swallow national measure of 49.4 per cent for singledetached homes and 35.6 per cent for condos – numbers skewed upward by the hot housing markets in Vancouver and Toronto.

To cool these overheating markets, Ottawa implemented new mortgage rules late last year, requiring that insured mortgages (those with less than 20-per-cent down payment) qualify at the central bank’s posted rate of 4.64 per cent. This is the case, even if the rate offered by your lender is lower. When rates do eventually rise, the increase will be manageable.

There’s also your Gross Debt Service ratio to think about. When 36 YPNEXTHOME.CA

applying for a mortgage, the lender combines your total housing costs (including mortgage, property tax and heating) and calculates what percentage they are of your gross monthly income.

Under the new mortgage rules, your Gross Debt Service ratio must not exceed 39 per cent of your gross income. Your Total Debt Service ratio (which includes total housing costs plus any other debt payments) must not exceed 44 per cent.

“The new mortgage insurance rules may help affordability over time, but 2017 is likely to see a tug of war between these market-cooling policy measures and rising longer-term interest rates, pulling affordability in opposite directions,” Craig Wright, RBC’s chief economist, noted in the report. “The net effect of this on the costs of owning a home is unclear at this point.”

Let’s err on the side of safety and assume that costs will continue rising. Forms of home ownership are evolving too, with options like tenancy to help pay the mortgage

debt, to new housing types altogether.

But who says the key to happiness is a 2,500-sq.-ft. detached house?

Perhaps your dream home isn’t a house at all.

Condo living can afford you the hottest location, coolest finishes, concierge service, a gym, a rooftop pool, at an affordable price. How much would you pay for a detached house that offers all that? Perhaps on your scale, amenities rank higher than that extra square footage.

Weigh the pros and cons of each housing type, then decide which best suits your lifestyle and budget. You might be surprised at where you end up!

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

Sherwood Park 16 Emerald Dr

Co mm o

n Dr S

Cra n Wa ford y

Sherwood Dr

Broadmoor Blvd

Summerwood Dr

Da vi Dr dso n

n Dr N mo om

Davenport Dr

Cranberry Dr Dr Crimson

Jim

l Dr Bethe

Broadw ay Bvld

21

Primrose Bvld Meadowview Dr

Baseline Rd

Granada Blvd

Dr Brentwood Blvd

d Sherwoo

y Wa

Jim C

ron ma Bison Way Cim

Cr an Dr ford

Shivam Rd

Broadview Rd

Dr

Summerland Dr Summerwood Blvd

rkdale Dr Cla

216

Lak ela nd

Bethel Way

Pretroleum Way

2 1 5

Asp e Trail n

Campbell Dr

Buckingham Dr

Streambank Ave

Clover Bar Rd

y Way Amberle

Da w Dr son

Premier Way

Strathmoor Dr

Strathmoor Way

y on Eb lvd B

Strathmoor Way

3 4

Eton Blvd

Pembina Rd Strathmoor Dr

Wye Rd.

MAP LISTINGS

1 SUMMERWOOD DUPLEXES

4 REFLECTIONS

BY ROHIT COMMUNITIES

BY CHRISTENSON GROUP

100 Axbridge Gate

111 Festival Way. Sales centre 5001 Eton Blvd.

2 ASPEN TRAILS

BY ABBEY LANE HOMES

Axbridge Gate off of Lakeland Dr. 3 ETON PARK ESTATES

5 ASPEN TRAILS DUPLEXES

BY ROHIT COMMUNITIES

100 Axbridge Gate

BY CHRISTENSON GROUP

5001 Eton Blvd.

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 37

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The LBD – little black dress – is a wardrobe staple. With the right accessories, you can dress it up or down, styled with whimsy or sophistication. Same for the LBD – little black decor – pieces for the home. They make a statement and can be styled with your personal expression.

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Umbria Pebbled Vase – Anthracite $48 chapters.indigo.ca

38 YPNEXTHOME.CA

7 Min. to Edmonton

Beaumont 1

Coloniale Way

Rue Montalet

44 St.

50 St.

57 St.

55 Ave. 52 Ave.

50 Ave. 2

43 Ave.

60 St.

3

30 Ave. Hwy 625

MAP LISTINGS

1 COVENTRY HOMES 50 Ave. & 57 St.

(Nisku Rd.)

2 GOUDREAU HEIGHTS

3 MONTROSE ESTATES

BY CHRISTENSON COMMUNITIES

BY SABA HOMES

3311 – 67 Street

4900 - 62 St.

WELCOME TO BEAUMONT Come visit us and discover why “Life Is Better In Beaumont” POPULATION Approximately 8,361 LOCATED 2 miles South of Edmonton on 50 Street SCHOOLS 5 Schools from Kindergarten to Grade 12, French Immersion offered in all GROCERY Sobey’s & Extra Foods RECREATIONAL FACILITIES Beaumont Regional Activities Centre and numerous outdoor facilities

MEDICAL FACILITIES 10 minutes to Grey Nuns Hospital, seved by Edmonton Ambulance PARKS & PATHWAYS Approximately 170 acres of parkland and 6 kilometers of interconnected walkways

For more information call (780) 929-8782 or visit www.town.beaumont.ab.ca

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 39

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lvd .

Leduc

48 St.

50 Ave.

50 St.

Grant MacEwan Blvd.

High way 2

rt B Bridgepo

Telford Lake

Black Gold Dr. Black Gold Dr.

Dr. Park South

St. 50

1

Hig hw ay

Rollyview Rd. 2A

Dr. Southfork 3 2

Simpkins Wynd

MAP LISTINGS

1 WINDROSE

3 SOUTHFORK

BY LANDMARK COMMUNITIES

BY JAYMAN MODUS

61 Windrose Drive

319 Southfork Dr

2 THE RUSHES OF SOUTHFORK

BY HUNTER RESIDENTIAL DEVELOPMENTS

401 Southfork Drive

WELCOME TO LEDUC The City of Leduc, a thriving Industrial, Commercial & Agricultural Community continues to experience growth and expansion.

A great place to call home!

POPULATION 39,000 and growing “Small city” living within minutes of “Big city” amenities

SCHOOLS 7 Elementary, 2 Junior & 2 Senior High - Public, Private & Separate school systems

LOCATED 20 kilometers south of Edmonton on Hwy. 2

GROCERY Variety of shopping

RECREATIONAL FACILITIES Black Gold Recreation & Culture Centre, Performing Arts Centre, 18 hole Golf Course & Public Library

MEDICAL FACILITIES Full Service Community Hospital and Full Ambulance service PARKS & PATHWAYS 27 parks including Telford Lake, Fred John’s Park & Lions campground

For more information contact The City of Leduc (780) 980-7177

SEARCH ONLINE ypnexthome.ca

Affordability

THE

ADVANTAGE!

by HUNTER RESIDENTIAL DEVELOPMENTS

2 bedroom, 2.5 bathroom townhomes with attached garage from $264,900!

To book a viewing of the new show suites please contact Kit at 587-896-6107 EMAIL kit@rushesofsouthfork.ca WEB www.rushesofsouthfork.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 41

Trending

Increase in mortgage fraud, “suspicious” applications THE LATEST DATA FROM credit reporting agency Equifax Canada suggests high-risk and suspected fraudulent mortgage activity is on the rise noting a 52 per cent increase in suspected fraudulent mortgage applications since 2013.

According to data from Equifax’s enterprise fraud management solution, ‘Falsified Account Statements’ and ‘Falsified Documents’ were the most prominent application tags, as reported by investigators. The other was ‘Conflicting Information’.

Of those applications flagged, 67 per cent were from Ontario while the next highest was 12 per cent from B.C. Equifax also conducted a survey to chart the attitudes and perceptions of Canadians with respect to the current housing market. One-infive Canadians, who do not have a mortgage, indicated they are nervous they will never own a home because of rising prices and want to buy a home but can’t because of the down payment.

“We’re certainly seeing more mortgage applications being flagged as suspicious by our reporting institutions,” said Tara Zecevic, vice-president, Customer Insight at Equifax Canada. “While we cannot entirely attribute these increases to consumers overstating personal income or falsifying applications, we do want to remind people that there are serious consequences for making false or inaccurate claims on any loan or mortgage applications.

Not only will it stretch your finances, it is in breach of your contractual

42 YPNEXTHOME.CA

obligations with the lender, and simply put, it’s against the law.”

Little white lies With respect to mortgage fraud, the results of the recent Equifax survey showed: 13% of Canadians indicated they felt it was okay to tell ‘a little white lie’ when applying for a mortgage to get the house they want.

16% said they believe mortgage fraud is a victimless crime

“There are serious consequences for making false or inaccurate claims on any loan or mortgage applications. Not only will it stretch your finances, it is in breach of your contractual obligations with the lender, and simply put, it’s against the law.”

8% admitted to misrepresenting the facts on a credit or loan application The cost of buying a home When asked about housing prices, the results of the recent Equifax survey showed: 84% believe that the cost of home ownership is too high for first-home buyers today Nearly 30% of Canadians cite ‘more demand than supply’ (29 per cent) and ‘foreign buyers’ (27 per cent), as the main factors driving up home prices BC residents (compared to other provinces) were significantly more likely to cite foreign buyers as the top reason for home prices being driven up (75% versus 42% for all other provinces, respectively) Examining trust When asked about who they trust

in the home-buying experience, the survey showed: 44% of Canadians trust real estate agents the least during the homebuying experience About 25% also distrust homeowners (27 per cent) and home inspectors (26 per cent) 20% distrust mortgage brokers, another 16 per cent don’t trust their bank and equally 16 per cent have little trust in their insurance agent 9% said they trust all professionals involved in the home-buying experience

MORE TRENDING ONLINE ypnexthome.ca/news

South East Edmonton North Saskatchewan River

106 Ave.

101 Ave.

BASELINE RD.

98 Ave.

90 Ave.

ood Park Fwy. Sherw

17 St.

d. rR pe Ro

86 St.

63 Ave.

34 St.

.

Rd yll Arg

50 St.

99 St.

76 Ave.

75 St.

83 St.

Whyte - 82 Ave.

Whitemud Fwy.

51 Ave.

38 Av e.

39 Ave.

8

43 Ave.

30 St.

4

5

Calgary Trail North QE II

91 St.

Millwoods Rd.

34 Ave.

1

2

23 Ave.

Parsons Rd.

3

91 St.

66 St.

1

9 6 10

41 Ave.

5

9

SOUTHERN SPRINGS

BY ROHIT COMMUNITIES

BY PARK HOMES

812 Welsh Dr.

2845 - 43 Ave NW

655 Watt Blvd.

ARA

6

WALKER LAKE LANDING

7

BY CARLISLE DEVELOPMENTS

Corner of Welsh Dr. & Watt Blvd SE LAUREL LANDING

BY LANDMARK HOMES

AURORA

BY MELCOR HOMES 1090 & 1092 Watt Promenade SW

4008 Savaryn Dr. SW

4

LARKSPUR LANDING

BY LANDMARK HOMES

BY CARRINGTON COMMUNITIES

3

Ellerslie Rd.

7

2

STONEHAVEN CONDOS

50 St.

Anthony Henday Dr. 216

101 St.

MAP LISTINGS

11

ELEMENTS AT WILLOWHAVEN

BY CARRINGTON COMMUNITIES 5521- 7 Avenue SW

8

2215 – 24 St NW

10

THE VILLAGE AT WALKER LAKES

BY LANDMARK HOMES 804 Walsh Drive SW.

11

ALTIUS TAMARACK

BY STREETSIDE DEVELOPMENTS 1530 Tamarack Blvd.

ASPEN MEADOWS

BY LANDMARK HOMES

43A Ave. & 23 St.

SEARCH ONLINE ypnexthome.ca

Move in this

new year with SAVINGS UP TO

$20,000 4008 Savaryn Drive SW

SOUTHEAST EDMONTON | Call Amanda 780.761.3144

CONDOS FROM $192,600 STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 43

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South West Edmonton

104 St.

51 Ave.

34 Ave.

Rabbit Hill Road

2

14 13

Ellerslie Road

17

21

26 23 8

25

127 St.

141 St.

16

22

7 4

Anthony Henday Dr. Ellerslie Rd.

3

30 Ave.

9

6

50 St.

2 2910

23 Ave.

Blackburne Drive

91 St.

MacEw an Road

Parsons Rd.

24

9 Ave.

20

101 St.

15

19 Ave.

Saddleback Rd.

Dr.

James Mowatt Tr.

Ha dd ow

14

91 St.

23 Ave.

18 28 11

66 St.

119 St.

40 Ave.

SOUTH

WHITEMUD DR.

1

Calgary Trail North QE II

Lansdowne Dr.

105 St.

27

Belgravia Rd.

111 St.

North Saskatchewan River

Ter will ega rD r.

ay Dr. y Hend Anthon

Riverbend Rd.

Fox Dr.

113 St. 109 St.

76 Ave.

QUESNELL BRIDGE

41 Ave.

MAP LISTINGS 1 THE LEGER

BY BRASS III DEVELOPMENTS

625 Leger Way 2 LUX CONDOS

7 CANVAS TOWNHOUSES

BY BROOKFIELD RESIDENTIAL

4470 Prowse Rd SW 8 JAYMAN MODUS 3837 Powell Wynd SW 9 ELAN

BY CARRINGTON COMMUNITIES

1144 Adamson Dr SW 1306C Windermere Way 10 ELEMENTS AT WINDERMERE 3 VISTAS AT

BY CARRINGTON COMMUNITIES CALLAGHAN NORTH 340 Windermere Rd.

BY Z2

BY ROHIT COMMUNITIES

2632 Bowen Way SW 4 ATRIA

BY PARK HOMES

2803 James Mowatt Trail 5 ALLURE

BY CARRINGTON COMMUNITIES

4042 MacTaggart Dr 6 ALLARD TOWNHOMES

BY ROHIT COMMUNITIES

675 Allard Blvd SW

11 GROVE ON 25TH TOWNHOUSES IN THE ORCHARDS

BY BROOKFIELD RESIDENTIAL

3305 Orchards Link SW 12 CREEKWOOD LANDING

BY CARLISLE GROUP

11804 - 22 Ave SW 13 E’SCAPES

BY CARRINGTON COMMUNITIES

14 CROSSROADS OF RUTHERFORD

19 BEARSPAW CROSSING

BY STREETSIDE DEVELOPMENTS

25 LINK CONDOS AT ELLERSLIE

BY LANDMARK HOMES

1816 & 1820 Rutherford Dr 15 THE SIGNATURE

4105 - 7323 South Terwillegar Dr. 21 LANGDALE TOWNHOMES

5151 Windermere Boulevard 16 GLENRIDDING HEIGHTS TOWNHOMES

BY BROOKFIELD RESIDENTIAL

2905 141 St SW 27 RIVERS EDGE

BY ROHIT COMMUNITIES

BY ROHIT COMMUNITIES

16003 10 Avenue SW (located off 170 and south of Ellerslie rd) 17 ALTIUS GRAYDON HILL

BY STREETSIDE DEVELOPMENTS

1005 Graydon Hill 18 THE SANDS 4050 Savaryn Dr

11189 Ellerslie Road 26 VISTA POINTE IN CHAPPELE GARDENS

BY PARK HOMES

BY WESTRICH PACIFIC

BY BROOKFIELD RESIDENTIAL

BY REGENCY DEVELOPMENTS

1508 – 105 St. NW 20 SOUTH TERWILLEGAR

704 176 Street SW 22 PIVOT RUTHERFORD

BY AVERTON HOMES

Ellerslie Rd & 119 St 23 CREEKWOOD CHAPELLE

BY AVERTON HOMES

28 Ave & 141 St 24 TRIUMPH AMBLESIDE

BY CHRISTENSON GROUP

3090 Cameron Hieghts Way 28 THE VILLAGE AT SUMMERSIDE

BY PELHAM

4203 Savaryn Dr SW 29 BRIGHTON 4835 Wright Dr SW

BY STREETSIDE DEVELOPMENTS

1115 Armour Link SW

11080 Ellerslie Road

Move in this

new year with SAVINGS UP TO

$75,000

11080 Ellerslie Road

SOUTHWEST EDMONTON | Call Kathy 780.756.2230

CONDOS FROM $246,900 STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 45

IES

N

U

P

OF

P

A

CH

S T E NS

ON

GRO

Cheers

RI

COM

to Your Next New Chapter!

3090 Cameron Heights Way, Edmonton Hours: Monday - Thursday 1 - 6 pm; Saturday and Sunday 1 - 5 pm

What: River’s Edge Villas in Cameron Heights

Sizes: 1,270, 1,380 and 1,422 square feet

Builder and designer: Christenson Group of Companies

Suites: One and Two bedroom homes with developed basements

Location: Cameron Heights, Southwest Edmonton Building: Bungalow style half-duplex units.

Pricing: $589,900 Status: 75 per cent sold Occupancy: 3 units for quick possession and 3 available to customize Phone: Shirley Lumme 780-554-8342 Website: theriversedge.ca

46 YPNEXTHOME.CA

SOUTH WEST

➛ Open spacious floor plans ➛ Vaulted ceiling ➛ Developed basements ➛ Double attached garage

In the neighbourhood The southwest quadrant of the city has both established and new areas, with abundant services, greenspace and recreation facilities. Cameron Heights offers greenspace, parks and walking trails, and River’s Edge villas backs onto ponds and parks with the Wedgewood Ravine near by.

Project Overview

Housing amenities

Near all the amenities of bustling Southwest Edmonton, River’s Edge Villas is the latest entry in adult bungalow living for Christenson Group of Companies. Spacious half – duplexes with developed basements offer downsizers all the comforts of a larger home with the benefits of condominium living.

The development’s 40 bungalow style duplexes feature vaulted ceilings, a wall of windows in the dining room, gas fireplace, granite kitchen countertops, custom cabinetry and stainless – steel appliances. There’s a spacious master bedroom, a maintenance – free rear deck, front verandah and, for the 17 walk-out units, a concrete patio. Three home sizes with floor plans that allow customization.

Location and transit River’s Edge Villas runs along Cameron Heights Way in Southwest Edmonton, just a five – minute drive along the Henday to amenities at Currents of Windemere or Hawkstone. This serene area of the city has well established transit route connecting to downtown and post – secondary institutions, as well as easy access to the airport and Highway 2 (and points south) via the Anthony Henday ring road.

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 47

Trending

Why 2017 is still a good year to buy a home

By Wayne Karl

CANADA’S VARIOUS HOUSING markets

were regular headline newsmakers last year, and not always for the most positive reasons, from skyrocketing prices in Vancouver and Toronto, to continuing soft conditions in Alberta, to yet further mortgage rule changes courtesy of the federal government.

All of it makes for a growing list of challenges for prospective homebuyers, and might discourage some to delay their purchase.

Rest assured, however, there are reasons why 2017 is still a good year to buy a home. (One important caveat, though: If you can afford it.)

1 | A pause for the cause Slowing price growth in Vancouver and Toronto is actually a positive development for would-be buyers.

Spared from year after year of double-digit home price growth, purchasers will no doubt appreciate a pause, as it may crack open a window of opportunity for them to buy.

Affordability is a serious concern.

Underlining the matter was a warning from Canada Mortgage and Housing Corp. (CMHC) in October which highlighted that most Canadian housing markets were overvalued, and price growth was to slow through 2018. Home prices have risen ahead of economic fundamentals such as personal disposable income and population growth, CMHC says, resulting in overvaluation in many markets.

Meanwhile, some attribute rising prices to low supply and high demand.

Personal finance guru Gail VazOxlade has a slightly different view.

It’s not lack of supply that’s driving prices up, but rather a shortage of grey matter.

48 YPNEXTHOME.CA

MORE TRENDING ONLINE ypnexthome.ca/news

“(Supply) is not what is pushing new homes to record prices – stupidity is,” she wrote in a recent Twitter exchange. “#MoreMoneyThanBrains.”

Easy credit, CMHC mortgage backing and “banks’ greed” are the real causes, she says. A significant market correction might be the only solution, “but that’ll just leave a whole lot of people upside down.”

We’ll take a pause for the cause, instead. The Canadian Real Estate Association provides one, in the form of its average price forecast for this year. For BC, it sees prices in Vancouver falling 7.8 per cent, compared to 8.1 per-cent-growth in 2016. For Ontario, it foresees prices climbing just one per cent, versus

shooting up more than 15 per cent last year.

“There will certainly be opportunity for first-time buyers in both markets,” ReMax Vice-President Elton Ash told YP NextHome. “The challenge will be in the higher qualification rates for high-ratio mortgages. Once firsttime buyers reset their affordability expectations, they will see price advantages in buying in 2017.”

2 | Big Brother is in your corner – really The latest mortgage rule changes introduced by the federal government late last year were intended to stabilize “overheated” housing markets, mostly in Vancouver and

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Toronto, slow home price growth and keep mortgage indebtedness under control.

What the changes also do, however, is make it more difficult for young Canadians to take that important first home-buying step.

Homebuyers who apply for a highratio mortgage (less than 20 per cent down payment) now have to undergo a “stress test” by qualifying at a rate (4.64 per cent) you may not even actually have to pay (if you qualified for a mortgage at some of the current better rates, say 2.5 per cent).

These changes may mean that your buying power is reduced, but it’s for your own good. The stress test is intended to assure lenders – and yourself – that you could still afford your payments if interest rates rise.

In other words, the changes are intended to protect you from the “stupidity” (Vaz-Oxlade’s words) of borrowing more easy money than you should.

You can also look forward to Ottawa releasing the National Housing Strategy some time in 2017.

It is intended to address multiple and varied issues, from affordable housing to rental markets to home ownership, and execute a vision that is equitable across differing economies, markets and conditions.

It’s a tall order, indeed. Such complex and far-reaching challenges are why some critics are skeptical that Ottawa can deliver anything meaningful in the strategy.

But we’ll take a more positive outlook. Canada has never had a national strategy, and given the growing importance – and challenges – of housing, only good can come from the process.

3 | Economic mettle Canada has proven its economic mettle time and time again over the last several years. In its Financial System Review in December, the

50 YPNEXTHOME.CA

Bank of Canada says the Canadian financial system remains resilient, as the nation’s economy improves.

The proof is in the pudding, in the way of Statistics Canada’s Employment Report from December, which says employment rose by 54,000 for the month, with the unemployment rate at 6.9 per cent.

For the fourth-quarter of 2016, employment increased by 0.6 per cent – the largest increase since the second quarter of 2010. For 2016 as a whole, employment gains totaled 214,000 or 1.2 per cent, compared to 0.9-per-cent growth over the same period a year earlier.

Canada has never had a national strategy, and given the growing importance – and challenges – of housing, only good can come from the process.

Just a bunch of numbers, right?

Not exactly. Housing markets can’t thrive without a strong economy.

Economic growth leads to employment growth, wage growth, and greater consumer confidence – which all lead to buying homes and household goods.

4 | Alberta rebound Housing markets in Calgary and Edmonton remained relatively stable in 2016, with moderate declines in sales and average prices as a result of the extended recovery of the oil sector.

The average residential sale price

in Edmonton decreased by two per cent year-over-year, while in Calgary it dropped by four per cent, according to ReMax. Buyer activity is expected to pick up slightly in the second half this year, with improving employment opportunities in the oil sector.

For the province as a whole, the Canadian Real Estate Association says 2016 and 2017 will finish up largely flat in terms of price growth – but this is actually an improvement over a 1.9-per-cent decline in 2015.

Alberta, no doubt, will take it.

The consensus is that real estate in the province is poised to begin to rebound in the second half of 2017.

On the new home front, housing starts – an important sign of economic health – are starting to rise.

“A member survey showed home starts are expected to rise a modest 5.7 per cent in 2107,” Donna Moore, CEO of Canadian Home Builders’ Association – Alberta, told YP NextHome. “That optimism likely reflects gains of almost 50 per cent in oil prices last year that are raising consumer comfort levels after a couple of tough years for the economy.”

5 | Interest rates Vaz-Oxlade’s concerns notwithstanding, it’s fair to say Canadians have benefited from low interest rates. Most experts don’t see any significant change here for 2017, though some lenders recently inched up rates on some mortgage products.

“It’s no secret that fixed mortgage rates are closely correlated with bond yields,” says Andrew C. MacDonald, a client account manager at Calum Ross Mortgage. “We’ve already seen an upward movement in bond yields from historical lows, and most lenders have started to raise interest rates slightly, as a result. The good news is rates are still hovering just above historical lows, which makes now a great time to purchase a home.”

Spruce Grove Ha

rv 2 Ridg est e Dr

Jennifer Heil Way

4

MAP LISTINGS

Vanderbilt Common

r ve D Gro est W

1

3

1

3

2

1 SILVERLEAF AT JUBILEE PARK 500 Grove Dr 2 EDGEWATER VILLAS

BY LANG BUILT HOMES

Just off of Harvest Ridge Dr 3 ALTIUS MCLAUGHLIN

BY STREETSIDE DEVELOPMENTS

50 McLaughlin Drive

SEARCH ONLINE ypnexthome.ca

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 51

New 2017 Coming soonAnnual On Stands Now! Watch it!

Outfor Now! October 2012

20 17

Exploring Edmonton’s top builders and developers – one community at a time

52 YPNEXTHOME.CA

231 St.

West Edmonton Yellowhead Trail

124 St.

87 Ave.

WHITEMUD FWY.

QUESNELL BRIDGE

69 Ave. 199 St.

4 6

GROAT BRIDGE

142 St.

149 St.

163 St.

2

159 St.

175 St.

8 1

170 St.

95 Ave. 182 St.

Rosenthal Blvd.

102 Ave.

Stony Plain Rd. 100 Ave. 156 St.

178 St.

ANTHONY HENDAY

3

Stony Plain Rd.

107 Ave.

a en d.

Bu ta R Vis

Winterburn Road (215 St.)

Secord 12 Blvd.

5 10

Ma yfie ld

Rd .

111 Ave.

Callingwood Rd.

9 35 Ave

MAP LISTINGS

North Saskatchewan River

11

1 THE CALIFORNIAN PARKLAND

BY ABBEY LANE HOMES

2035 Grantham Court 2 GROVENOR MANOR

BY PELHAM MASTER BUILDER

10126 – 144 Street 3 SECORD CORNERS

5 JADE

9

BY CARRINGTON COMMUNITIES

RIVERS EDGE

BY CHRISTENSON GROUP

1004 Rosenthal Blvd

3090 Cameron Heights Way

6 GLASTONBURY MEWS & ESTATES 1589 Glastonbury Blvd

10 RENEW IN ROSENTHAL

8 VIP AT CALIFORNIAN PARKLAND

11 HAVEN TOWNHOMES

BY FOOTPRINT DEVELOPMENTS

BY ABBEY LANE HOMES

9535 - 217 Street

2035 Granthan Court

BY DAYTONA

1 &2 8209-217 Street NW

BY BROOKFIELD RESIDENTIAL

7385 Edgemont Way 12 SECORD CHALET

4 STAFFORD GREENS

BY HOPEWELL

#5, 320 Secord Blvd

BY STAFFORD GREENS LTD

62 Ave & Getty Gate

SEARCH ONLINE ypnexthome.ca

Move in this

new year with SAVINGS UP TO

$20,000

1004 Rosenthal Blvd.

WEST EDMONTON | Call Trent 780.426.1686

CONDOS FROM $194,900 STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA

JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 53

Buyers’ Resources | MORTGAGE RATES

Compare mortgage rates for your best deal CHARTERED BANKS

variable

ATB Financial Alterna Bank

6 months

1 year

2 years

2.5000

4.1000

3.0400

2.3900

2.6000

4.0000

2.7900

2.7400

3 years

4 years

5 years

2.6400

2.6900

2.8900

2.5900

2.8400

2.8400

Alterna Savings

2.6000

4.0000

2.7900

2.7400

2.5900

2.8400

2.8400

Bank of Montreal

2.8500

4.2000

3.0900

3.1900

3.5900

4.0900

4.8400

Bank of Nova Scotia

2.7000

4.5500

3.2900

3.0900

3.3900

3.8900

4.4900

CIBC Mortgages

2.7000

3.1400

2.8400

2.7900

3.3900

4.0900

4.7900

Caisses Desjardins

2.7000

4.4000

3.1400

3.2400

3.3900

3.8900

4.7400

Canadian Western Bank

2.9000

4.0000

3.1400

3.0400

3.6500

4.2000

4.7400

Canadian Western Trust

2.9000

4.0000

3.1400

3.0400

3.6500

4.2000

4.7400

Comtech Credit Union

-

6.2000

2.8400

2.8900

2.9500

2.9900

2.8900

DUCA Financial Services

2.5000

-

3.0400

2.9400

2.9400

3.1400

2.6900

Effort Trust

-

4.4500

3.3500

3.5000

3.7000

4.3000

4.3500

Equitable Bank

-

-

3.1400

3.0400

3.6500

4.3900

4.6400

First Calgary Financial

-

4.0000

2.8900

2.8900

2.6400

2.7900

2.9400

First National Financial

2.3500

3.1000

2.6400

2.6400

2.6400

2.8400

2.9400

FirstOntario Credit Un.

2.7000

4.3400

2.7900

2.4900

2.6400

2.7900

2.8900

HSBC Bank Canada

2.8000

4.4500

3.1400

3.1400

3.3900

4.0900

4.6400

Home Trust Company-Agent

2.5000

3.9500

2.6900

2.1400

2.3400

2.5900

2.7900

ICICI Bank Canada

3.0500

-

2.6400

2.6400

2.6400

3.1900

3.2900

Investors Group Trust

2.8500

4.2000

3.1400

3.0900

3.3900

3.8900

4.6400

Kindred Credit Union

2.7000

-

3.3500

3.3500

3.4000

3.4000

3.2900

Laurentian Bank Canada

2.7000

4.4000

2.8900

3.0400

3.3900

3.8900

4.7400

League Svgs & Mortgage

-

4.4500

2.9900

2.5900

2.7400

2.7400

2.9400

Libro Credit Union

-

3.7500

2.6000

2.6500

2.6900

2.6900

2.6900

London Life

2.8500

4.2000

3.1400

3.0900

3.3900

3.8900

4.6400

Manulife Bank

2.7000

4.4500

3.0000

2.9400

2.8400

2.9400

2.9900

Manulife Trust

-

4.4500

3.0000

2.9400

2.8400

2.9400

2.9900

Meridian Credit Union

2.4000

4.0000

2.8400

2.7900

2.6400

3.8900

2.5400

National Bank

2.7000

4.4000

3.1400

3.0400

3.3900

3.8900

4.7400

PACE Savings & Credit Un

-

5.0000

3.0400

2.8400

3.3900

3.8900

4.4900

Parama Credit Union

2.6500

-

2.8000

2.8500

2.9500

3.0500

3.1500

Peace Hills Trust

-

4.5000

3.1500

3.5000

3.7500

3.8500

3.9500

President’s Choice Fin’l

2.7000

6.1900

3.1400

2.7900

3.3400

3.9900

4.4400

Rapport Credit Union

2.8500

6.0000

3.0900

3.0400

3.5000

3.0400

2.9900

Royal Bank of Canada

2.7000

3.1400

3.1400

3.0400

3.6500

4.3900

4.6400

Steinbach Credit Union

-

-

2.3900

2.3900

2.4900

2.5900

2.6900

T-D Mortgage

2.8500

3.1400

3.0400

2.8400

3.4400

3.8900

4.6400

Tangerine

2.7000

-

3.1900

3.2400

3.4900

3.6900

3.7900

WFCU Credit Union

-

4.4500

3.0000

3.0400

3.6500

4.3900

4.6400

Your Neighbourhood C.U.

-

-

2.7990

2.8900

3.0900

3.1500

2.9400

ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator PREPARED BY CANNEX ON JANUARY 18, 2017 This information is current as of the date and time posted and is subject to change without notice. © Copyright 2016 CANNEX Financial Exchanges Limited. All rights reserved.

54 YPNEXTHOME.CA

South Central Edmonton North Saskatchewan River

84 St.

71 St.

75 St.

Co

n 7 nors 2 Rd.

90 Ave. 83 St.

99 St.

103 St.

104 St.

1

6

95 Ave.

85 St.

105 ST BRIDGE . n Dr ewa atch k s a S

5 8

101 Ave. 98 Ave.

92 St.

Sas kat che wa nD r.

87 Ave.

FOOT BRIDGE

JAMES McDONALD BRIDGE

Scona Rd.

109 ST BRIDGE

114 St.

Groat Rd .

GROAT BRIDGE

79 St.

106 Ave.

DAWSON BRIDGE LOW LEVEL BRIDGE

CAPILANO BRIDGE

Whyte - 82 Ave.3 77 Ave. 76 Ave.

9

4 51 Ave.

MAP LISTINGS

1 THE ARBOR AT AVENUE 83 10002-83 Avenue 2 Le Quartier Condos

BY INFINITI DEVELOPMENTS

8627-91 St 3 STUDIO OFF WHYTE

4 THE UNIVERSITY BROWNSTONES

7 CASCADE LUXURY CONDOS

BY TESSCO

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JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 55

Top List

Hit the slopes from coast to coast: Canada’s top ski and snowboard resorts

by Megan Jones

FROM WHISTLER BLACKCOMB

in B.C. to Crabbe Mountain, New Brunswick, Canada’s mountainous terrain stretches from coast to coast, offering skiers and snowboarders of all skill levels plenty of options for wintertime fun. If you’re looking to hit the slopes this season, read on for an essential guide to the country’s best ski and snowboard destinations.

Whistler Blackcomb, British Columbia Home to the 2010 Winter Olympic Games, Whistler Blackcomb is one of the most renowned ski resorts in Canada, if not the world, due to its massive size, lengthy runs, state-of-the-art gondolas and enviable mountainside village.

• Top elevation: 2,182 metres • Most famous for: Being the largest 56 YPNEXTHOME.CA

ski resort in North America, with more than 8,000 acres and runs as long as 11 kilometres.

• Number of Runs: 200 + • Where to stay: Whistler Village boasts dozens of modern condos, hotels and resorts including the elegant Listel Hotel Whistler, a prestigious B.C.-based hotel chain.

• Where to eat: Unlike most B.C. mountain towns, Whistler is home to a diverse and elegant fine dining scene. Do après ski in style at awardwinning Araxi Restaurant + Oyster Bar. Here, oysters on the half shell are fresh and light, while simple farm-to-table dishes and a robust wine list round out any meal.

• Where to drink: Garfinkles is where the locals go to dance after midnight, while Tapley’s Neighbourhood Pub offers casual vibes, with live music and sports games.

Lake Louise Ski Resort, Alberta Sharing its name with Canada’s most photographed alpine lake, Lake Louise Ski Resort is located in the heart of the Rocky Mountain Range and is one of North America’s largest ski resorts with nearly 150 runs and plenty of attractions, shops and restaurants.

• Top elevation: 2,637 metres • Most famous for: Banff National Park.

This famous and historic park dates back to the late 1800s and Lake Louise Ski Resort is just one of its many recreational centres.

• Number of Runs: 145 • Where to stay: Treat yourself to the Fairmont Chateau Lake Louise, an elegant, nostalgia-inducing hotel dating back to 1890. Or, check in to more intimate options including the ever-charming Lake Louise Inn.

• Where to eat: Slopeside Coffee bar is ideal for a buzz when you need a quick break from skiing. For refined fare, visit The Balkan Restaurant, a classic tavern serving traditional Greek dishes.

• Where to drink: For the best of Lake Louise nightlife, head to Dancing Sasquatch, where pop hits will make you want to move and groove.

Holiday Mountain Resort, Manitoba Founded in 1959 by Canadian ski resort tycoon Noel Later, this modest ski hill in Manitoba is, surprisingly, the centre of innovation for ski resort technology in Canada. The country’s first chairlift, snowmaking system and snow camera debuted on Holiday Mountain.

• Top elevation: 460 metres • Most famous for: Its rich sense of history and beloved local legends, including the storied boxcar village: prior to the construction of the Holiday’s original lodge, skiers took matters into their own hands, installing a dozen retired boxcars as dwelling places.

• Number of runs: 9 • Where to stay: A-frame cabins are ideal for multiple families, and the popular Mountain Inn is the perfect place if you’re looking to meet others during your stay.

• Where to eat: Most guests congregate at the Main Chalet, where one can enjoy breakfast, lunch and dinner in a spirited, family-friendly atmosphere.

• Where to drink: The Main Chalet’s famous cocktail lounge offers a pool table, beer, wine and cocktails, and live music on weekends during the ski season. The best part? A nostalgia wall filled with vintage photos of Holiday Mountain.

Mont Tremblant Resort, Quebec Nestled in the spectacular Laurentian Mountains, this 630acre resort was founded in 1939

by Philadelphian gold prospector, Joseph Ryan. Today, Mont Tremblant is internationally recognized as the best ski resort in Eastern North America.

• Top elevation: 875 metres • Most famous for: Class and style.

With its charming, European-style pedestrian village, and elevated dining, shopping and nightlife options, Mont Tremblant is where international celebrities and the Montreal elite come to play.

• Number of runs: 95 • Where to stay: There’s nothing quite like a weekend at the Fairmont’s Le Sommet des Nieges, a world-renowned ski-in/ski-out hotel that takes inspiration from the castlelike chateaus of the Swiss Alps from the 40s and 50s.

• Where to eat: The Pedestrian Village has plenty of fine dining options, of course, but for something a little more casual, head to Mille Pates, a bohemian eatery specializing in healthy, fresh and eco-friendly fare.

• Where to drink: Bar Café D’Epoque is perfect if you like Euro-techno music and pulsing bodies. La Diable, on the other hand, is a microbrewery offering more laid-back vibes, with simple barbecue fare and artisan beers.

Blue Mountain Resort, Ontario Ontario’s preferred ski destination, Blue Mountain Resort is located on the Niagara Escarpment on the southern edge of Georgian Bay, where several slopes offer skiing and snowboarding, snowshoeing and more.

• Top elevation: 219 metres • Most famous for: Being Ontario’s largest ski resort, maintaining an outdoor skating rink during ski season, and the nearby Scandinave Spa for post-workout relaxation.

• Number of runs: 42 • Where to stay: The Blue Mountain

Inn is ideal for families, with large rooms, an indoor pool and caninefriendly accommodation. Couples can cosy up on the hearth at the Grand Georgian, a romantic hotel modelled after a historic railway lodge.

• Where to eat: The Pottery Restaurant will suit all walks of life, with eclectic, locally inspired fare, a stone fireplace, elegant white walls and exposed beams.

• Where to drink: Jozo’s Original Après is the spot to be when the slopes close. Locals and visitors alike gather here for beers on tap, friendly service and live entertainment.

Crabbe Mountain, New Brunswick The highest vertical peak in the Maritimes, Crabbe Mountain presents a wide range of wintertime activities that take advantage of the area’s heavy snowfalls in winter.

• Top elevation: 260 metres • Most famous for: Being the Maritimes’ highest peak, with the most number of runs and chair lifts of all three provinces.

• Number of runs: 31 • Where to stay: On-site accommodations are not available, so most guests stay in hotels and inns in and around Fredericton, and the On the Pond Lodge is among the best. This four-star country inn offers a cosy dining room, spa services, and calming views of a serene lake and rolling hills.

• Where to eat: Open until 9:30 pm each day, Crabbe Mountain’s simple cafeteria offers homemade East Coast meals and desserts.

• Where to drink: During ski season, The Thirsty Boot Lounge hosts an Après Ski Entertainment Series featuring live music on Saturdays from 3 to 7 p.m.

This content was originally published on YP.ca. Read more YP travel tips and city guides at yp.ca/tips JAN 27 - FEB 24, 2017 | NEW CONDO GUIDE 57

Trending

Bank of Canada holds interest rate steady Residential investment tempered by changes to mortgage rules and rising mortgage rates THE BANK OF CANADA has made its

first interest rate announcement of 2017 – and the first since Trump took the presidential election south of the border. As expected, the Bank held its rate steady at 0.5 per cent, noting that uncertainty about the global outlook is undiminished, particularly with respect to policies in the United States.

“In our discussions, Governing Council was particularly concerned about the ramifications of US trade policy, because it is so fundamental to the Canadian economy. But we cannot capture these in our projections because they are simply unknown at this point,” Bank of Canada governor Stephen Poloz said in his opening statement at the Monetary Policy Report press conference.

The Bank has made initial assumptions about prospective tax policies only, resulting in a modest upward revision to its US growth outlook. Overall, the global economy is strengthening largely as expected and prices of some commodities, including oil, have risen. The rapid back-up in global bond yields, partly reflecting market anticipation of US fiscal expansion, has pulled up Canadian yields relative to the October Monetary Policy Report.

In contrast to the US, Canada’s economy continues to operate with material excess capacity. While employment growth has remained firm, indicators still point to significant slack in the labour market. The resource sector’s adjustment to past commodity price declines appears to be largely complete, but negative wealth and income effects will persist.

Meanwhile, the Canadian dollar has strengthened along with the US dollar 58 YPNEXTHOME.CA

MORE TRENDING ONLINE ypnexthome.ca/news

against other currencies, exacerbating ongoing competitiveness challenges and muting the outlook for exports.

Consumption is expected to remain solid, while residential investment will be tempered by previously announced changes to housing finance rules and by mortgage rates that have risen in response to higher bond yields.

Federal and provincial fiscal measures are still expected to support growth in 2017.

Bearing in mind the important assumptions embedded in its forecast, the Bank projects that Canada’s real GDP will grow by 2.1 per cent in both 2017 and 2018. This implies a return to full capacity around mid-2018, in line with October’s projection.

Inflation in Canada has been lower than anticipated since October, mainly because of declines in food prices. Measures of core inflation are below 2 per cent, reflecting material excess capacity in the economy. As

consumer energy prices rise and the impact of lower food prices dissipates, inflation is expected to move close to the 2 per cent target in the months ahead and remain there throughout the projection horizon while excess capacity is being absorbed.

“In the context of a projection that is largely unchanged, the Bank’s Governing Council judges that the current stance of monetary policy is still appropriate and maintains the target for the overnight rate at 0.5 per cent. Governing Council will continue to assess the impact of ongoing developments, mindful of the significant uncertainties weighing on the outlook,” Poloz concluded.

The Bank’s next scheduled overnight rate announcement will be March 1, 2017. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report on April 12.

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