Edmonton New Condo Guide - Feb 27, 2015

Feb 27 - Mar 27, 2015 Volume 23 Issue 03

INSIDE THIS ISSUE

WHAT THE MORTGAGE RATE CUT MEANS FOR YOU

INTEREST RATES, OIL PRICES, THE DOLLAR & YOUR HOME

DESIGNER ADVICE: GET THE LUXE LOOK

MORE TIME MORE CHOICE

MORE FREEDOM The Name In Active Adult Living With over 30 years of experience creating award winning multi-family urban villages for adults and seniors, Christenson Developments has been providing Edmonton and surrounding area with more than just a home.

The Name In Active Adult Living

CDLhomes.com

ME O

R FFE

VE0 SA 0,00 ED TI

LIMIT

$

2

ETON PARK ESTATES

REFLECTIONS

• Granite counter-tops, stainless steel appliances, air conditioning, 9’ ceilings • Underground parking

• Granite counter-tops, stainless steel appliances, air conditioning, 9’ ceilings • Underground parking

Located in the urban village of Emerald Hills, Sherwood Park 780.410.0004

Located in Centre in the Park, Sherwood Park 780.410.0004

LIFESE LEA

LIFESE LEA

SOUTHWOODS VILLAGE

VILLAGE AT WESTMOUNT

• In-suite laundry, air conditioning, family party room • 2 Bdrm coach homes available

• Steel & concrete construction, in-suite laundry, full kitchens, air conditioning • 1 Bdrm and 2 Bdrm suites available

L ILAB AVA

E

Independent living located in Hazeldean, Edmonton 780.975.2509

ILA AVA

B LE

Independent living with optional services, Edmonton 780.452.2030

TRE

CEN

NOW N OPE

INFO

VILLAS AT LACOMBE PARK

RIVERS EDGE VILLAS

• Finished basements, 6 appliances, hardwood and ceramic floors • Spacious floorplans, GST included

• Finished basements, 6 appliances, hardwood and ceramic floors • Spacious floorplans, GST included

Beautifully appointed adult bungalows, St. Albert 780.903.2465

CDLhomes.com

Adult bungalows located in Cameron Heights, Edmonton 780.554.8342

780.974.4757 S O L A R A L I V I N G . CA

YOUR FUTURE IS LOOKING VERY BRIGHT

PRE-POSSESSION PROMO WITH FREE UPGRADES!

• Granite counters throughout • Full laminate flooring • Ceramic tile in kitchen, bathrooms & laundry

SPACIOUS 2-BEDROOM SUITES FROM $230s

VISIT OUR SALES CENTRE 145 Ave. 127 St.

SPACIOUS 1-BEDROOM SUITES FROM $180s

127 St. just north of 142 Ave. 142 Ave.

N

Mon-Thur: 3-7pm • Sat, Sun & Holidays: 1-5pm • Closed Fridays

Building Luxury Lifestyle Communities in the Edmonton area since 1980.

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

AbbeyLaneHomes @AbbeyLaneHomes1 info@abbeylanehomes.com

Parkland Condos from low $200s

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 5

SALES CENTRE NOW OPEN!

ASPEN PARK CONDOS

NESTLED IN THE HEART OF SHERWOOD PARK • Spacious layouts from 676 to 1014 sqft • Granite countertops throughout • Spacious food prep island with eating bar • Stained maple cabinets with brushed nickel hardware • Porcelain tile in kitchen, entrance, baths & laundry • Fitness room with select equipment

1-BEDROOM SUITES FROM $190s • 2-BEDROOM SUITES FROM $240s

MON-THURS: 2-7PM SAT, SUN & HOLIDAYS: 1-5PM

aspenparkliving.ca 587.269.2012

thequaycondos.ca

Luxury Views.

Luxury Suites.

Luxury Lifestyle.

Waterside condos from $226,900

Waterside condos from the $220s Granite Counters Throughout Stainless Steel Kitchen Appliances Porcelain Tile Floors In Kitchen/Laundry Room Laminate Floors In Living/Dining Room, Bedrooms, Foyer In-Floor Heating With Temperature Control Heated Underground Parking With Car Wash Bay

CONSTRUCTION NOW UNDERWAY! In Southwest Edmonton N

Rabbit Hill Rd.

An tho ny He nd ay

gar ille erw th T Sou

Ter wil leg ar

Dr.

23 Ave.

Mon-Thurs: 3-7 Pm Sat, Sun & Holidays: 1-5 Pm Closed Fridays

587.524.0259

CONTENTS

FEB 27 - MAR 27, 2015

VOLUME 23

ISSUE 03

ON THE COVER

Rohit

Starling Landing Townhomes

COLUMNS / NEWS / HOMEBUYERS’ HELP 018 Editor’s Note 028 In The News The sky is not falling in Alberta: home builders

by Wayne Karl

036 Mortgage Advice What the rate drop means for home buyers and owners

by Alyssa Richard

038 Homebuyers’ Help Lower interest rates, oil prices, our dollar, and your home

by Kara Kuryllowicz

046 Homebuyers’ Help Beyond sticker price: What’s the real bottom line?

by Kara Kuryllowicz

047 Finances The cost of love in Canada: $50,339.21

by Lydia McNutt

056 CMHC Report Prairie housing starts to take a dip in 2015 and 2016 070 Designer Advice The luxe look

by Yanic Simard

079 Homebuyers’ Help Condo Buyers’ Resource Section 082 Condo Hunter’s Checklist

PRESIDENT, WALL2WALL MEDIA

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge

PROJECT LOCATION MAPS 021 North West

049 South East

027 St. Albert

055 Sherwood Park

029 Fork Saskatchewan

057 Leduc

031 West

059 North East

035 Spruce Grove/Stoney Plain

065 Downtown

039 South West

073 South Central

PROJECT PROFILE

DIRECTOR OF SALES, NATIONAL

Josh Heppner SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Victoria Cigan EDITOR

Lydia McNutt CONTRIBUTING EDITORS

Sara Duck Wayne Karl Elisa Krovblit DESIGN EDITOR

Yanic Simard

SENIOR MEDIA CONSULTANT

Shelley Balla 587.784.4044

PRODUCTION MANAGER

Bala Gnanapandithan PRODUCTION CO-ORDINATOR

Hannah Yarkony GRAPHIC DESIGNER

Viosa Barileva, Miguel Cea, Mike Terentiev

Published By

PO Box 458 Station Main Edmonton, AB T5J 2K1 NEWHOMEANDCONDOGUIDE.CA COPYRIGHT 2015 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

ADVERTISING RATES

T 587.784.4044 email shelley.balla@wall2wallmedia.com CIRCULATION Edmonton’s New Condo Guide is

52

PARK HOMES Southern Spring Villas at Walker Lakes Station Final phase!

published every four weeks, 13 times per year. To submit articles or advertising, we are located at PO Box 458 Station Main Edmonton, AB T5J 2K1.

New Condo Guide is free to the public.

EDITORIAL Submissions from interested parties will be considered. Please submit to susan.legge@wall2wallmedia.com

The views and data expressed by columnists do not necessarily represent those of the publication.

H WIT S E S HOM VIEW LAKE

Craftsman Inspired Town Homes In Thriving South Edmonton Southern Springs town homes are part of the Walker Lake community of South Edmonton, a vibrant new neighbourhood with every convenience close at hand that young home owners are quickly discovering.

High-quality finishes throughout, including: • Open plan main floors with elegant nine foot ceilings • Double-car attached garages with remote openers • Kitchen cabinets in a choice of two contemporary finishes • •

Polished quartz counters in kitchen and bathrooms Free-standing homeowner’s club lounge and fitness centre

Prices start at $279,900 incl. GST

10

follow us us on on southernsprings.parkhomes.ca follow

50 50St St ELLERSLIE ELLERSLIE RD RD WATT WATT

655 Watt Boulevard Telephone: 780.701.5616 Show Homes open: Mon to Thurs: 3 – 8pm Weekends & Holidays: Noon – 5pm

66 66St St

ANTHONY ANTHONY HENDAY HENDAY

and and

N N

SHOW SUITE NOW OPEN

Secord Corners

LUXURY TOWNHOMES DESIGNED FOR TODAY’S BUYER

W

ords like stylish, modern & even a little bit sexy come to mind as you enter the Secord Corners Townhomes. Gleaming granite countertops, large windows and a glass tile backsplash in the kitchen give the space a sleek, urban feeling while features like the large rear deck & oversize double attached garage are exactly what suburban buyers are looking for. Innovative finishes like glass walls instead of the usual spindle stair railings allow light to flow throughout the home.

Thoughtfully positioned in the west end of Edmonton, Secord Corners townhomes are located in the gorgeous community of Secord. This family oriented community is 12 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

just off past Lewis Estates and provides easy access to West Edmonton Mall plus the Whitemud and Anthony Henday freeways.

Just a stone’s throw away from grocery stores and the established community of Parkland, Secord Corners offers spectacular value for residents. Easily accessible and close to many amenities, these townhomes are the exactly what northwest Edmonton has been waiting for.

Perfectly sized at 1536 square feet, these homes have been specifically designed to maximize the floor space. The open concept design allows one room to flow into another, giving the overall impression of a much larger home. A spacious gourmet style kitchen with a convenient eating bar is ideal for active families or professional couples with hectic lifestyles while the dining nook is the perfect spot for family meals or a party. The great room features plenty of room for a luxurious flat screen TV, an oversize window and has

lots of room for entertaining.

A well-placed half bath is very convenient for both residents and guests. Upstairs, three generous bedrooms offer fantastic space for children or make excellent offices or hobby rooms. The master suite is a great size and comes with a large walk in closet and four-piece ensuite. Another four-piece bathroom completes this level.

The lower level of the home contains the laundry room, storage room and oversize double garage. Many valuable upgraded features of these homes include five appliances, an oversized deck and full landscaping of both front and back yards. The extra deep double attached rear garage has additional storage for the kids stuff or recreational equipment.

Secord Corners Townhomes have been planned and are being constructed by Footprint Developments.

This company specializes in creating greater Edmonton’s most value rich townhome communities.

Very popular with today’s buyers, their first development, Terwillegar Corners, sold out in just months.

Secord Corners Townhomes are master crafted and come complete with valuable, upgraded features and finishes. There are only 20 townhomes remaining in the final phase of this private community. Homes are selling fast - so do not wait to reserve your Secord Corners home! Priced from the $280’s these homes are definitely west Edmonton’s most impressive new home opportunity.

For more information about Secord Corners Townhomes, please call 780.966.6524 or visit their show home in Secord at 9535-217st, just off of Secord Blvd. To get to Secord, turn off the Whitemud onto Secord, turn left on Secord Blvd & follow the signs. Check out www.secordcorners.ca for more details too.

YELLOWHEAD TRAIL

STONY PLAIN RD.

GREEN DR. 87 AVE. N W

R

SECORD Sales Center

178 ST.

WEBB E

ANTHONY HENDAY DR.

217 ST.

Lake

215 ST.

WINTERBURN RD. BLVD. ORD SEC

STONY PLAIN RD.

WHITEMUD DR.

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 13

F I NA L C H A NC E – ON LY 14 U N I T S L E F T !

Bow Chicka Wow Wow

PRINCETON COURT

PRINCETON COURT Sherwood Park | 301 Palisades Way Prices starting in the $360’s* CALL MANDIE AT

780-905-0998

Clover Bar Road

Sherwood Drive

Way Lakeland Drive

101 Ave NW

Visit GrandeDesign.ca for more information.

Palis ades

Modern master suites with some sizzle are what Grande Design homes are all about. But when it comes to quality craftsmanship, our homes couldn’t be more traditional. Don’t miss out on your last chance to move into one of these spacious executive townhomes today!

Broadmoor Blvd

Yellowhead HWY

Baseline Rd

1781 sq. ft. spec executive townhomes Oversized double garage • Hardwood floors • Granite countertops • Stainless steel appliances • •

*Prices subject to change

Modern Homes. Classic Values.

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 15

Luxury the way YOU want it.

IATE IMMED IONS S S POSSE BLE AVAILA

From $499,900 Customizable bungalow and two-storey villas with walk-out basements onto the Blackmud Creek Ravine.

Anthony Henday 111 St

Ellerslie Road

James Mowatt Trail

Connelly Way 30 Ave Allard Link

780.717.7490 #6, 1030 Connelly Way SW VillasOnTheRavine.com

PARKWOOD DEVELOPMENTS

NOW PRE-SELLING DUPLEXES FROM $399,900 Village on the Lakes is Parkwood’s latest condo community in Rosenthal.

Bordering on two lakes within one of west Edmonton’s newest premier communities, enjoy stunning lake and parkland views from walk-out bungalows and two storey homes.

ONLY 4 UT WALK-O WS O L A G BUN G IN REMAIN

Visit our Sales Centre at 3947 Ginsburg Crescent NW located in Granville or Call 780 914 2006 VILLAGEONTHELAKES.COM

WE BUILD TO A DIFFERENT TUNE

LET US BUILD YOUR HOME. DIFFERENTLY. LandmarkHomes.ca

it’s what’s inside NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 17

EDITOR’S NOTE

UNDERSTAND THE “AGREEMENT”

SUSAN LEGGE Editor-in-chief

Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook Search: Condo Guide

Buying a brand-new home or condo offers an opportunity to get exactly what you really want. It can be a dream come true and an investment for the future, but don’t forget, it’s also a legal transaction.

The term “get it in writing” has never been more important in the case of the new-home or condo purchase since it outlines everything your new home will have in it and around it. Otherwise known as the Agreement of Purchase and Sale, the contract spells out the terms between you and your developer and/or builder. Without it, if there is a misunderstanding or disagreement, it’s impossible to prove what was agreed upon.

Since building a home is much more complicated than a resale transaction where the home already exists, there is no set Agreement of Purchase and Sale or standard contract for buying a new home. In some provinces, builders may have standard contracts prepared by the local home builders’ association or their new-home warranty program. Builders often prepare their own agreements so new-home contracts can vary from one builder to another and from province to province.

Before you sign a contract, review it carefully with the builder and ask questions to make sure you fully understand what’s in it. Your next step is to then take it to a real estate lawyer and have it reviewed. Once it is signed, it becomes a legal document, so seeking the services of an experienced lawyer is an important step toward ensuring that your dream home becomes a reality.

READY, SET, SHOP!

LYDIA MCNUTT Editor

Lydia.McNutt@wall2wallmedia.com Follow me on Twitter at Twitter.com/LydiasTweets

A home is probably the biggest purchase you’ll make in your lifetime, and it’s also arguably the one that will bring you the most joy. In the long run, real estate is generally a sound investment that yields security and a good return, should you ever decide to sell. But if you’re looking for immediate gratification, nothing beats the feeling of stepping through the door and knowing you’ve arrived “home.”

There are about as many different types of condos out there as there are buyers. Whether you’re leaning toward a small-but-sweet studio in the city, with every imaginable amenity steps from your front door, or you have your eye on a spacious suite in the suburbs, rest assured that the perfect home is out there, waiting to be discovered. However, with so many choices, where do you start?

Keep an open mind, but don’t compromise on your must-haves. Be clear on the lifestyle you expect to lead. This includes satisfying your professional self, the social butterfly and of course, your inner accountant.

Here’s where it helps to make a list – and clearly identify what you’re willing to compromise on when push comes to shove. Is that second bedroom truly essential, or would you make better use of one bedroom with a large ensuite and walk-in closet? You decide. You may be surprised at your own choice in the end.

Buying a home is a major milestone, and it is certainly stressful. But don’t forget to have fun and enjoy the ride. Happy shopping!

18 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

LOWER OIL PRICES, ALBERTA’S ECONOMY AND NEW HOUSING CONSTRUCTION IN 2015 (PART 2)

In our last article, we contemplated if Edmonton’s new housing market was on the path to being oversupplied – given record-setting construction levels amongst lowering expectations for Alberta’s economic growth and net migration rates.

By our definition, this is a situation where unabsorbed new housing units grow amidst a mounting supply of comparable product in the resale market. To clarify, this is not a situation where new housing absorptions and resale sales fall amongst normal inventory levels. The key differentiating factor is the former has led to price decreases for new real estate in the past, while the latter has only slowed the rate of price growth.

In the resale markets, inventory levels remain historically low despite increasing by 15% in January. Coinciding with this increase was an annual reduction in sales, but local realtors pointed to a lack of quality supply for this drop – not a lack of general interest in the market.

If their sentiment is true, there does not appear to be a lot of newly constructed comparable inventory in the resale market today. Furthermore, regional new standing inventory levels seem balanced as they are currently below the respective 5-year running averages – 459 vs. 470 for non-apartment units and 114 vs. 280 for apartments (CMHC).

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

Given the above, Intelligence House has concluded that there is not sufficient evidence to suggest the City’s new housing market is heading towards a position of oversupply in the resale market.

However, this situation still calls for attention, as the fact remains that construction levels for non-apartment units in Edmonton are still 30% above its 5-year average, while condo construction has increased 58% by this measure.

Understanding the potential impact of this construction on future supply boils down to quantifying the number of constructing units that remain unsold. In December 2014, Intelligence House took part in an Edmonton city survey of new constructing product with this task in mind. As it stands, construction sell-through rates were 61% for single family homes, 79% for apartments, 72% for townhomes and 81% for duplexes. All of these measures align with absorptions that have kept this market’s supply in balance in recent years.

Area and product-specific reports based on this research are available on request.

From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 19

RAY GIBBON DR.

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MERIDIAN STREET (0 St.)

ST.

137 Ave.

AIL TR

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Lessard Road DR.

QE II

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

20 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

&DOPDU

NorthWestEdmonton City Boundary

12 176 Ave. Castle Downs Rd.

2

167 Ave. 162 A ve

.

15

153 Ave. 6 14 8 1 10 4

7 132 Ave.

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142 St.

149 St.

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109 St.

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135 St.

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142 Ave.

97 St.

150 Ave.

121 St. 113A St.

153 Ave.

127 St.

5 9

148 Ave.

Campbell Rd.

3

Stony Plain Rd.

MAP LISTINGS

1 COVENTRY HOMES Castle Downs Rd. & McCrae Ave. 2 ALBANY TRAILS

BY FOOTPRINT DEVELOPMENTS

138 St & 167 Ave. 3 AVIVA

BY CARRINGTON COMMUNITIES

507 Albany Way 4 VICTORY LANE

BY ABBEY LANE HOMES

2510 Pegasus Blvd.

5 UPPER CARLTON

BY REID BUILT HOMES

13838 - 166th Avenue 6 VALOUR

BY CARRINGTON COMMUNITIES

508 Griesbach Parade NW

7 BELLWETHER PARK 132 Ave. & 132 St.

13 STARLING AT BIG LAKE

BY ROHIT LAND DEVELOPMENT

137 Ave & Ray Gibbons Dr.

8 VICTORY PARK

14 JUNO TOWNHOMES

BY ABBEY LANE HOMES

Pegasus Blvd & Sir Arthur Curry Way

BY SLOKKER CANADA WEST

2570 Pegasus Blvd.

15 CAERNARRON KEEP FIRST PLACE PROGRAM

9 THE SILHOUETTE AT CARLTON

BY LANDMARK COMMUNITIES

BY CASSEL COMMUNITIES

14621 - 121 St. NW

15503 - 139 St.

16 STARLING LANDING

10 MCCRAE ESTATES

BY ROHIT COMMUNITIES

BY CHRISTENSON COMMUNITIES

2405 Sparrow Common

4450 McCrae Ave. 11 STARLING DUPLEXES

BY ROHIT COMMUNITIES

2407 Sparrow Crescent 12 LEGACY POINTE

BY CONCEPT HOMES MASTER BUILDER

18230 - 104A Street

NORTHWEST EDMONTON | Call Eva 587.520.3372

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

CONDOS FROM $189,900

Font: Optima Roman & Bold, all caps & small Caps C:72 M:75 Y:0 K:0

Please see our ad between pages 18 and 19

507 Albany Way

C:23 M:0 Y:45 K:0 C:0 M:0 Y:0 K:85

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 21

22 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

NORTHWEST

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 23

ING SPR SSION !

1 SE POS PHASE FOR

Big mortgage

in the suburbs or

small mortgage

in a mature location?

That’s what we think too.

260s

$

Visit our sales centre: 137 Ave

6 unique floor plans up to 1,622 sqft 132 St

Now under construction!

132 Ave 127 St

Stylish townhomes with two-car garage from the

N

780.455.9811 • bwpark.ca

24 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

Mon - Thurs: 3 - 7 pm Sat - Sun & Hol: 1 - 5 pm

NORTHWEST

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 25

St.Albert

MAP LISTINGS

ros e Dr.

Keil lor Dr.

e.

Poirier Av

Rd .

1 SAGE GARDENS

St. Al be r

Boudreau Rd. Campbell Rd.

Dr. ins k t A

TO

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167 Ave.

ED

M

ON

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156 St.

170 St. Gerva is

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184 St.

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1

Element Dr. Erin Rid ge Dr.

TO MORINVILLE

3 BOTANICA

BY VI PROPERTIES

BY BOUDREAU DEVELOPMENTS LTD.

25 Element Drive

105 Bellerose Drive

2 CITADEL VILLAGE

BY CHRISTENSON COMMUNITIES

St. Albert Trail & Ridge Drive

4 TENOR ON THE RIVER DEVELOPED BY MCLEOD PROJECT MARKETING

35 Sturgeon Road

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 27

IN THE NEWS

The sky is not falling in Alberta: home builders

By Wayne Karl

A

lberta 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?

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.

“Most expect to stay busy, but slower than last year” It’s “a general mood of caution for 2015,” he told New Condo 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 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.

28 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

CMHC weighs in Canada Mortgage and Housing Corp. recently 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 (flip to page 56 to read more).

As for price growth, 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 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 highwater mark, but not chump change, either,” CHBA – Alberta spokesman Paul Cashman told New Condo 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.”

FortSaskatchewan ER AT S DW N RE IBBO G

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2

Wilshire Blvd.

MAP LISTINGS

1 ELEMENTS SENNA

2 CLIO

BY ROHIT COMMUNITIES

BY PARK HOMES

1 Santana Cres.

#94th St Southfort Drive

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

“Move in Next Door...

Neighborly Fort Saskatchewan”.

POPULATION Over 14,700 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 Sobey’s Station Square, Canada Safeway,

Extra Foods, Garden Market IGA 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

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 29

FORTSASKATCHEWAN

ER UND CTION U STR N O C

Park Homes Signature Series Comes to Fort Saskatchewan Clio is a new generation of Park Homes highly successful Georgian style three bedroom town homes, featuring elegant exteriors with charming window boxes and interiors designed for contemporary living: • • • • •

Warm laminate flooring through open plan main floor Gourmet kitchens with five appliances; Elevated nine foot ceilings on the main floor – and every home has an Extra length two-car garage large enough for a full size truck and a second car!

Located in the vibrant new community of Southpointe, close to the city centre

Prices start at $289,900 incl. GST Pre-sale Centre open at 8530 94 St. Fort Saskatchewan Mon to Thurs: 3 – 8pm Weekends and Holidays: 12 – 5pm Closed Friday Tel: 780.809.8589 30

clio.parkhomes.ca follow us on

and

213 St.

WestEdmonton Yellowhead Trail

124 St.

7 159 St.

87 Ave.

WHITEMUD FWY.

QUESNELL BRIDGE

69 Ave.

4 6

GROAT BRIDGE

142 St.

163 St.

170 St.

102 Ave.

9 2

149 St.

156 St.

178 St.

8 1

175 St.

182 St.

ANTHONY HENDAY

Rosenthal Blvd.

Stony Plain Rd. 100 Ave. 95 Ave.

199 St.

5 10

Stony Plain Rd.

107 Ave.

a en d.

Bu ta R Vis

3

Winterburn Road (215 St.)

Secord Blvd.

Ma yfie ld

Rd .

111 Ave.

Callingwood Rd.

North Saskatchewan River

MAP LISTINGS

1 THE CALIFORNIAN PARKLAND

BY ABBEY LANE HOMES

2035 Grantham Court 2 GROVENOR MANOR

BY PELHAM MASTER BUILDER

10126 – 144 Street 3 SECORD CORNERS

BY FOOTPRINT DEVELOPMENTS

9535 - 217 Street 4 STAFFORD GREENS

BY ALDRITT HOMES

62 Ave & Getty Gate

5 JADE

9

BY CARRINGTON COMMUNITIES

1004 Rosenthal Blvd 6 GLASTONBURY MEWS & ESTATES 1589 Glastonbury Blvd

GLENORA SKYLINE 10220 - 140 Street

10 RENEW IN ROSENTHAL

BY DAYTONA

1 &2 8209-217 Street NW

7 THE VANIER

BY QUALICO LIVING

9820 165 Street 8 VIP AT CALIFORNIAN PARKLAND

BY ABBEY LANE HOMES

2035 Granthan Court

WEST EDMONTON | Call Trent 780.426.1686

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

Please see our ad between pages 18 and 19

CONDOS FROM $193,900 1004 Rosenthal Boulevard NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 31

New 2015 Annual Coming soon

On Now! Watch for it!

OnStands Stands Now! October 2012

The stories behind Edmonton’s top builders, developers & new communities

32 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

ONLY TWO HOMES LEFT IN THE

270s

$

PHASE 1

Own It

40

OVER

%

SOLD

your space. your style. your chalet.

EXCEPTIONAL COURTYARD

FULL-LENGTH DRIVEWAYS

REAL ROOM SIZES

CUSTOMIZABLE FLOORPLANS

YOUR CHOICE OF COLOUR PALETTE

Featuring ample greenspace, walking paths and seating.

Increased space between homes with parking for 2 vehicles.

Including full-sized dining rooms and bedrooms.

Custom floorplan options crafted for your lifestyle.

3 expertly selected colour palettes to choose from.

VISIT OUR SALES CENTRE MONDAY TO THURSDAY

2PM TO 8PM

WEEKENDS / HOLIDAYS

12PM TO 5PM

CLOSED FRIDAYS

780.757.4388

SECORDCHALET.COM NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 33

Web Directory BUILDERS/DEVELOPERS

Find your next condo online, it’s easy!

BUILDERS/DEVELOPERS

Abbey Lane Homes

www.abbeylanehomes.com

Parkwood Master Builder

www.parkwoodmasterbuilder.com

Addison Condos

www.theaddisonoffwhyte.com

Rohit Communities

www.rohitcommunities.com

Californian Parkland

www.vipliving.ca

Secord Chalet

www.secordchalet.com

Carrington Communities

www.carrington.ca

Secord Corners

www.secordcorners.ca

Cascade Luxury Condos

www.cascadecondos.ca

Solara at Skyview

www.solaraliving.ca

Centurion Townhomes

www.centuriontownhomes.com

Stafford Greens

www.staffordgreens.com

Christenson Developments Ltd.

www.cdlhomes.com

Symphony Tower

www.symphonytower.ca

Coventry Homes

www.coventry-homes.com

Tessco Incorporated

www.edmontoncondo.com

Daytona Homes Master Builder

www.daytonahomes.ca

The Leger

www.brass3.com

Encore Tower

www.encoretower.com

The Rushes of Southfork

www.rushesofsouthfork.ca

Footprint Developments

www.footprintdevelopments.ca

The Signature

www.signatureambleside.com

Fox Two

www.foxtowers.ca

Ultima

www.ultimatower.ca

Grovenor Manor

www.grovenormanor.com

Grande Design Homes

www.grandedesign.ca

Homes by Avi

www.homesbyavi.com

Landmark Group

www.landmarkgroup.ca

Lang Built Homes

www.langbuilthomes.com

Park Homes

www.parkhomes.ca

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

34

SpruceGrove H

ar 3 Rid vest g eD

r

3

Jennifer Heil Way

4

Vanderbilt Common 2

r ve D Gro est W

MAP LISTINGS

1

1 2

1 THE NEST

2 CENTURION TOWNHOMES

BY ROSTUM DEVELOPMENTS

BY PK DEVELOPMENTS 20 Vanderbilt Common

610 Calahoo Rd.

3 EDGEWATER VILLAS

BY LANG BUILT HOMES

Just off of Harvest Ridge Dr

To Highway 16

StonyPlain Highway 16A, To Edmonton

47 Ave.

48 St.

52 Ave. 50 St.

South Park Dr.

44 Ave.

Golf Course Rd.

1

46 St.

To Jasper

Fairway Dr. 55 Ave. Oatway Dr. 3 2

79 Ave.

MAP LISTINGS

1 BARTH & GOSSET MANOR

BY JAFFER DEVELOPMENTS

Main St - 5211 50th St

2 WESTERRA MANOR Golf Course Rd & 79 Avenue

3 WILLOWS END

BY JAFFER DEVELOPMENTS

48 Street & Willow Park Rd

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 35

MORTGAGE ADVICE

What the rate drop means for homebuyers and owners

By Alyssa Richard

O

n Jan. 21, Governor Stephen Poloz announced that the Bank of Canada (BoC) was dropping its overnight rate by 0.25 per cent, from one per cent to 0.75 per cent. It was the first time the rate had been changed in nearly 4.5 years.

First, if you read the news or happen to follow even a few personal finance experts on Twitter, you probably got the sense that it came as a surprise – and it did. Until a few months ago, everyone expected Canada’s economy to finally pick up in 2015, and for interest rates to go up along with it.

Unfortunately, as you’ve probably noticed by the cheap gas prices you see around your city now, falling oil prices have already hurt our economy.

Profits are down, people are losing jobs… and the BoC’s decision to cut its rate was meant to do one thing: encourage banks to drop their Prime rates, so Canadians who were feeling the negative impacts of what’s been happening in the oil industry could keep up with their existing debt commitments.

Conversely, at first, the banks chose to ignore the BoC’s rate cut and refused to lower their Prime rates, stating concerns that dropping interest rates further would actually cause Canadians to take on more debt they couldn’t afford to repay, versus help those who were feeling the pinch. Finally, one week after the overnight rate was dropped, the big banks all lowered their Prime rates – but only by 0.15 per cent, not the full 0.25 per cent. There’s no telling how long this will last, or if the banks will drop their Prime rates further, but here’s what it means for you.

If you’re a homeowner with a variable-rate mortgage, your bank’s decision to drop its Prime rate will result in a smaller monthly mortgage payment. A 0.15-per-cent decrease won’t save you much – maybe $40 per month on a $400,000 mortgage – but it’s still something. And if you are carrying extra debt or want to make a lump-sum payment on your mortgage later this year, use this savings to help you do so.

Unfortunately, as you’ve probably noticed by the cheap gas prices you see around your city now, falling oil prices have already hurt our economy 36 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

If you’re thinking about buying a home this year, don’t let these lower interest rates make you think you can afford an extra-large mortgage. There’s a lot of uncertainty surrounding this rate cut, and we don’t know how long it will last. It’s really important to buy a home that is below your maximum price limit and to stress test your mortgage.

That means tacking on two per cent to the current interest rate and seeing if you could still afford the payment, if interest rates went up.

The banks are right to be concerned about Canadians taking on more debt; that’s what happens in low interest rate environments. Take this rate cut for what it’s really worth: a chance to pay down your current debt sooner.

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

HARVEST POINT

SHOW HOME

VILLAS

VILLAS NOW PRE-SELLING

SOLD HOLD SPEC

ULT VILLA PROJECT…

mes is excited to announce construction has ir New Adult Villa Project in Spruce Grove’s . As in our previous projects we have acquired anding location with many walk-outs units the park and lake. We have received an enponse with three sales and seven lots placed

this project is designed to create a quiet and rtable sense of community, where residents minded neighbours who are at the same stage

SHOW HOME OPENING APR in life. As in Lang Built Homes’ previous Adult Villa Projects, you own your home and lot. While your grass is being cut or your snow is being shoveled you are left free to recreate, spend time with grandchildren, and travel to warm winter destinations. A lifestyle our retiring generation deserves.

SUMMER POSSESSIONS AVAILABLE…

We have started construction on a 1417 Sq. Ft. Walk Out on lot 22 and a 1378 Sq. Ft Sunshine Basement unit on lot 24, both of which back onto the lake and park. There is still a chance to select your interior finishes. Please call for more information or to set up an appointment.

2014 ALBERTA REGIONAL WINN Supported by

Recipients of New Homebuy Choice Awar

Please call for more information

780.700.9225 780.722.6496

www.langbuilthomes.com NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 37

HOMEBUYERS’ HELP

Interest rates, oil prices, the dollar and your home

By Kara Kuryllowicz

L

ower interest rates, falling oil prices and the Canadian dollar are making headlines nation-wide, but how they impact homebuyers depends on where they are on the map.

Regarding rates, Adrienne Warren, senior economist of real estate at Scotiabank points out, “A quarter point provides a modest boost to affordability, but it’s not a game changer because on average, it will cut monthly mortgage costs by just about $50. Whether you were leaning toward buying or not buying, I don’t think the rate cut will change your mind.”

Although most economists and experts expected interest rates would be on the upswing by now, it’s now predicted the Bank of Canada will make yet another cut in March. It appears interest rates will remain low for much of 2015 with favourable longer-term and fixed rates that will make home purchases more appealing to Canadians already planning to buy in 2015. Although experts are reluctant to weigh in on the variable versus fixed discussion, it could be a good time to lock in.

Warren notes, since rates will likely be higher in 12 to 24 months, now’s the time to focus on topping up principal payments.

“Lower interest rates will make the housing market a bit stronger through to 2016, but in a number of markets, the single-family home is still quite unaffordable

38 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

to the average buyer, so we may see a shift in sales compositions with even more condo purchases,” says Diana Petramala, economist, real estate, TD Bank Group.

Because the overall economic environment and employment, both of which are affected by interest rates and oil, are the housing market’s key drivers, regional differences will be more profound across western, central and eastern Canada. In commodity-dependent provinces, particularly Alberta, Saskatchewan and Newfoundland, economic uncertainty is a legitimate concern, as temporary and more permanent job loss is already a reality.

To date, oil-driven housing markets like those in Calgary and Edmonton have seen a drastic and immediate shift, with existing home sales down 30 to 45 per cent from last year’s peaks. While Petramala isn’t expecting a recession in Alberta, Saskatchewan and Newfoundland, it will feel like a recession with housing prices expected to fall as much as 10 per cent in Calgary, Edmonton and St. John’s in 2015 and into 2016.

As the oil-producing regions battle headwinds, Petramala notes that further east, export- and manufacturing-dependent regions will benefit from the state of the Canadian dollar, a stronger U.S. economy, lower oil prices and lower interest rates. In the non-oil producing regions, unemployment rates will gradually drop through 2015 and into 2016. In Vancouver and Toronto, January sales reached above long-term averages with moderate price increases on the horizon, while prices in Quebec City, Ottawa and Montreal will remain flat – although Montreal still has the second-highest homeprice-to-income ratio outside of BC. “We see little pent-up demand for housing in most markets following the strong run over the past decade,” says Petramala. “Last year, mortgage rates fell to what homebuyers thought would be the lowest possible level for borrowing costs. This caused a rush to buy, particularly among first-time homebuyers and average existing home sales jumped well above their long-run averages. Toronto, Vancouver and Montreal still remain relatively expensive and even if mortgage rates head lower, the impact on overall affordability measures will likely be marginal.”

SouthWestEdmonton 51 Ave.

105 St.

119 St.

40 Ave.

SOUTH

WHITEMUD DR.

34 Ave.

Rabbit Hill Road

2

19

11Saddleback Rd.

9 Ave.

MacEw an Road

13

127 St.

141 St.

21

James Mowatt Tr.

Ellerslie Road

16

23 Ave.

Blackburne Drive

2

Ellerslie Rd.

3 18

9 8

4

Anthony Henday Dr.

30 Ave.

6

50 St.

10 14

19 Ave.

91 St.

20

17

Parsons Rd.

15 7

Dr.

101 St.

Ha dd ow

14

91 St.

23 Ave.

66 St.

1

Calgary Trail North QE II

Lansdowne Dr.

104 St.

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 WINDERMERE WATERS

BY WESTRICH PACIFIC CORP

1290 Windermere Way 3 VISTAS AT CALLAGHAN NORTH

BY ROHIT COMMUNITIES

2632 Bowen Way SW 4 ATRIA

BY PARK HOMES

2803 James Mowatt Trail 5 ALLURE

6 ALLARD TOWNHOMES

BY ROHIT COMMUNITIES

675 Allard Blvd SW 7 WINDERMERE MANSIONS

BY WESTRICH PACIFIC

1350 Windermere Way SW 8 TERWILLEGAR INSPIRATIONS #19, 840 – 156 Street 9 ELAN

BY CARRINGTON COMMUNITIES

1144 Adamson Dr SW 10 ELEMENTS AT WINDERMERE

BY CARRINGTON COMMUNITIES

340 Windermere Rd.

BY CARRINGTON COMMUNITIES

4042 MacTaggart Dr

11

MAGRATH GREEN

BY LANDMARK COMMUNITIES

2003 Rabbit Hill Rd. 12 CREEKWOOD LANDING

BY CARLISLE GROUP

11804 - 22 Ave SW 13 E’SCAPES

BY CARRINGTON COMMUNITIES

11080 Ellerslie Road 14 REGENCY AT WINDERMERE

BY ROYAL CANADIAN DEVELOPMENT INC.

723-172 St (In Langdale) 15 THE SIGNATURE

BY WESTRICH PACIFIC

5151 Windermere Boulevard

16 GLENRIDDING HEIGHTS TOWNHOMES

BY ROHIT COMMUNITIES

16003 10 Avenue SW (located off 170 and south of Ellerslie rd) 17 RAVINE POINT AT MACTAGGART RIDGE

20 SOUTH TERWILLEGAR

BY PARK HOMES

4105 - 7323 South Terwillegar Dr. 21 LANGDALE TOWNHOMES

BY ROHIT COMMUNITIES

704 176 Street SW

BY CAMBRIDGE MERIDIAN DEVELOPMENTS

5835 Mullen Place 18 SOUTH CALLAGHAN TOWNHOMES

BY VOCO

Corner of Casselman Link & Cunningham Way SW 19 SPARROW LANDING AT LARCH PARK (NET ZERO TOWNHOMES)

BY LANDMARK COMMUNITIES

7504 May Common

SOUTHWEST EDMONTON | Call Craig 587.520.6775

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

Please see our ad between pages 18 and 19

CONDOS FROM $200,300 1144 Adamson Drive SW NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 39

Get involved with Sage!

Sage is a non-profit seniors’ serving organization, offering a wide range of programs that enhance the quality of life for seniors in Greater Edmonton. Get involved with Sage! Take advantage of the many resources, programs and services. Explore a variety of volunteer opportunities. Consider supporting at-risk seniors by making a charitable donation. Sage has been serving seniors in your community for over 40 years.

Visit www.MySage.ca or call 780-423-5510!

SHOW SUITE

MANNING DRIVE

McCONACHIE DR

VD BL

55 ST

McCONACHIE WAY

IE CH NA CO Mc

167 AVE

ANTHONY HENDAY DR.

CALGARY TRAIL

22 AVENUE SW

SHOW SUITE

JAMES MOWATT TRAIL

17 AVENUE SW

111 ST.

ELLERSLIE RD. (9AVE)

CUNNINGHAM DR.

30 AVENUE SW

Canadian Home Builders’ Association

SOUTHWEST

W

hen people think about the typical apartment-style condo in Edmonton they think about a 600–800 sq ft home. That’s why BRASS III’s new project, The Leger, will come as a pleasant and unexpected surprise. Designed for those who love the Riverbend area, who want the maintenance-free lifestyle that a condo offers, but who want lots of living space, The Leger delivers.

lion dollar Terwillegar Community Recreation Centre (with its pools, indoor track, gym, gymnasiums, ice sheets and indoor playground) and just a quick hop to the community’s main transit hub on 23rd Avenue. It’s also proximate to grocery stores, shopping, restaurants, cafes,

EXPECT THE UNEXPECTED AT the LEGER

42 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

doctors and other professionals, schools and golf courses. And being close to both the Anthony Henday and the Whitemud Freeway makes commuting quick and simple.

There are a handful of floorplans to choose from, and suites start under $300,000. Now selling and possessions start in 2015. Of course, the sooner you get in the more choice you have on floorplans and units.

So swing by the sales centre today at 625 Leger Way. For more information, you can also go to www.brass3.com, or call Troy Stenson from Re/Max River City at 780-918-0678 or 780-439-7000.

BRASS3.COM

BRASS III has an excellent reputation as a builder of choice in the Riverbend/Terwillegar area. They know the community, they know the amenities and residents, and they know how to build great projects (they’ve built over a dozen projects in the area to date). This is amplified at The Leger.

The Leger’s 60 units range from two-bedroom, two-bathrooms, to two-bedroom plus den plus two bathrooms, and are between 1,250 and 1,550 sq ft. All units features nine-foot ceilings, premier finishings like hardwood and tile floors, granite countertops, seven appliances (stainless steel appliances in the kitchen) and oversized balconies. All homes are self-contained, too, with their own hot water tank and heating system, and in-suite laundry.

The building will also have low condo fees because there are no common amenities in the building—other than the heated underground parking. Instead, resources are put toward towards elements like soundproofing and improved construction materials.

The Leger is in a prime location, in the heart of Terwillegar. It is steps from the new multimil-

SUITE 106, 1550 SQ FT

DISCOVER THE

UNEXPECTED...

...DISCOVER

the LEGER

AN EXCITING NEW DEVELOPMENT BY

BRASS III LOCATED IN THE HEART OF TERWILLEGAR JUST STEPS TO REC CENTRE & TRANSIT STATION

NOW 60% SOLD

CONSTRUCTION HAS BEGUN Leger Blvd

Rabb

ay Leger W

TERWILLEGAR REC CENTRE

rR

TRANSIT STATION

LOCATED AT 625 LEGER WAY

REGISTER ONLINE FOR EXCLUSIVE UPDATES AND

Terwilleg

ar Dr

d

Leger Gate

ge

l Rd

it Hil

Le

ay rW

ge

Le

23 Ave

• Only 60 Suites • Choose from 2 Bedroom or 2 Bedroom + Den • Large suites ranging in size from 1255 to 1550 sq ft

PROMOTIONS: BRASS3.COM

SALES & MARKETING BY TROY STENSON, RE/MAX RIVER CITY CELL

780.918.0678 /

OFFICE

780.439.7000

43

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DIGITAL DEVICE anytime, anywhere!

Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

NEWCONDOGUIDE.COM Published by

70 OVE % R SO LD

IATE D E IMM SSION SE POS

High-Quality Homes Designed to Stand the Test of Time Atria by Park Homes – an exciting enclave of two and three bedroom town homes, set in the vibrant new Callaghan South community and destined to become a neighbourhood of choice for first time buyers and young families.

Created in a timeless Georgian style, with elegantly proportioned architecture, well-designed front entry doors and charming window boxes. Contemporary interiors boast warm laminate flooring, gourmet kitchens with quartz countertops and elevated nine foot ceilings on the main floor – and every home has an attached double garage!

Prices starting from the $270’s incl. GST Designer Show Homes open at: 2803 James Mowatt Trail South West Edmonton Tel: 780.809.8580 Mon to Thurs: 3 – 8pm Weekends and Holidays: Noon – 5pm Closed Friday

atria.parkhomes.ca follow us on

and

HOMEBUYERS’ HELP

Beyond sticker price: WHAT’S THE REAL BOTTOM LINE?

By Kara Kuryllowicz

A

s much as location affects everything from the size of home to lifestyle and commute times, most Canadian homebuyers’ decision-making is still driven primarily by sticker price and mortgage payments.

A recent study by Pembina Institute and RBC, Location Matters: Factoring location costs into homebuying decisions, looks at how location-related factors affect the overall costs of a home through the eyes of four homebuyers, beyond just sticker price. While the homebuyers were in the Greater Toronto Area, the study raises a number of questions and highlights issues that are relevant to Canadian homebuyers from coast to coast.

“The main takeaway is that any homebuyer should figure out the total home-ownership costs and impact on lifestyle when making a home purchase,” says Erica Nielsen, vice-president of home equity financing at RBC. “It comes down to personal preferences and what you are willing to trade off – perhaps it’s living a bit closer to the city and giving up one car, or living in a neighbourhood with easy transit. Widening your criteria in your home search could yield savings, and sometimes those savings aren’t immediately obvious.”

“You have to look at what you need, what you want and what you are willing to give up if you can’t have both” 46 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

Sticker price versus the bottom line Since home-buying math is a complex equation, buyers must also consider costs beyond sticker price, like their monthly home maintenance and transportation expenses, many of which are tied to location and type of home: transportation (car versus public transit), property taxes, utilities, insurance, home repairs or improvements, furniture and decor.

“We tend to focus on the sticker price first, because we see it as a lump sum, then the weekly, biweekly or monthly mortgage payments which are sizeable, but location can also have a major impact on transportation costs – what will it cost to drive everywhere?” says Markus Moos, assistant professor at the School of Planning, University of Waterloo in Ontario. “In smaller towns and rural areas, the housing costs less, but homebuyers need to consider the additional costs – if that location will require bigger vehicles and/or a vehicle for every adult who drives.”

At first glance, the larger home with the extra bedrooms and big backyard may appear worth the fourhour round-trip commute. However, Moos also suggests you carefully assess both the financial and less tangible costs, such as impact on mental and physical health, work-life balance and relationships – monthly, annually and long term.

“The total cost can vary by adjusting the location and transportation costs,” says Nielsen. “It’s important to evaluate all of the variables to make sure the total cost fits into your budget. Often, adjusting needs and wants could save you money in the long run.”

You may be pre-approved and able to carry the mortgage on a $600,000 home, but also consider the lifestyle you want. Can you carry the home and still afford the annual vacations, the kids’ hockey program, and date night with your spouse? You also have to ask the tough questions: what if you lose your job or your partner – how are you protected?

“You have to be honest and budget for that,” says Nielsen. “Buying a home is personal and you have to look at what you need, what you want and what you are willing to give up if you can’t have both.”

FINANCES

The cost of love in Canada: $50,339.21

By Lydia McNutt

V

alentine’s Day may have come and gone, but if buying a home and finding true love are still on your to-do list this year, then you’ve got your work cut out for you. These milestones often go hand in hand, but it could be a case of either/or when you consider that the price of love is right up there with the cost of a down payment on a home.

According to the third annual Cost of Love study

by RateSupermarket.ca, romance will set you back $50,339.21, from first date to the first cut of the wedding cake – that’s with a one-year dating period, one-year engagement and an “average” Canadian wedding. That figure is up 11.4 per cent from last year.

If that doesn’t break your heart, compare the price of love to the cost of living, and you may shed a tear.

According to the fourth-quarter 2014 Housing Market Outlook by Canada Mortgage and Housing Corp., the average price of a resale home in Canada as of Dec. 2014 was $414,300, with an average down payment of $66,288.

“On average, the prices associated with dating, engagement and nuptials have increased. And, as costs

for food and travel grow amid today’s low currency environment, our findings underscore the importance of being financially prepared for life’s milestones,” says Penelope Graham, editor at RateSupermarket.ca.

If you’re not wiling to choose between romance and a roof over your heads, communication and coordinated planning are key. “Individuals should be aware of how increased spending – whether on entertainment, travel, or a certain piece of jewelry – can derail the best-laid of financial plans,” Graham says. She offers these financial tips for couples: •Many modern-day couples move in together before tying the knot, and they are trading in the traditional wedding gifts (how many toasters does one couple need, anyway?) in lieu of a home down-payment fund.

• Contribute to a Tax Free Saving Account.

• Take advantage of the first-time Home Buyers’ Plan, which lets you and your partner each withdraw $25,000 from your RRSP, providing you qualify. You’ll have to repay the amount withdrawn in 15 years to avoid paying tax.

One Year of Dates: $7,740.21 12 Fancy Dates: $2,335

Average cost: $194.50

(nice dinners + theatre tickets)

36 Casual Dates: $489

Average cost: $13.58

(12 takeout dinners, 12 coffee dates and a Netflix subscription)

12 Movie Dates: $570.96

Average cost: $47.58

(movie tickets, concessions)

2 Weekend Getaways: $821.50

Average cost: $360.75

(2 days away, 2 nights away, $100 credit card bill)

Beach Vacation: $2,254.67

Average cost: $1127.33

Other Expenses: $1,270.08 (flowers: $126.98, man's wardrobe: $1,143.10)

One-Year Engagement: $10,913.99 Another Year of Dates + 50% Wardrobe update: $4,913.99 Engagement Ring: $4,000 Engagement Party: $2,000 Tying The Knot: $31,685* *Source: 2014 Weddingbells/Mariage Quebec Reader Survey NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 47

SouthEastEdmonton 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.

75 St.

.

Rd yll Arg

50 St.

99 St.

76 Ave.

34 St.

83 St.

Whyte - 82 Ave.

Whitemud Fwy.

51 Ave.

38 Av e.

39 Ave.

8

43 Ave.

34 Ave.

Millwoods Rd.

91 St. Calgary Trail North QE II

4 1 23 Ave.

9 6 10 2 11 7

91 St.

66 St.

Parsons Rd.

3

50 St.

Anthony Henday Dr. 216

101 St.

MAP LISTINGS

4

30 St.

5

Ellerslie Rd.

41 Ave.

1 CHARLESWORTH

7 ELEMENTS AT WILLOWHAVEN

BY LANDMARK COMMUNITIES

5503 - 3 Ave. SW

BY CARRINGTON COMMUNITIES 5521- 7 Avenue SW

8 ASPEN MEADOWS

2 REVV

BY LANDMARK URBAN LIVING

BY INFINITY HOMES 1480 Watt Drive

43A Ave. & 23 St.

3 WALKER LAKE LANDING

BY CARLISLE DEVELOPMENTS

Corner of Welsh Dr. & Watt Blvd SE 4 TAMARACK

BY LANDMARK COMMUNITIES

655 Tamarack Rd. 5 LARKSPUR LANDING

BY ROHIT COMMUNITIES

2845 - 43 Ave NW

9 SOUTHERN SPRINGS

BY PARK HOMES

655 Watt Blvd.

10 THE EDGE IN ELLERSLIE

BY DAYTONA HOMES #44, 6520-2 Avenue SW

11 THE VILLAGE AT WALKER LAKES

BY LANDMARK COMMUNITIES 804 Walsh Drive SW.

6 AURORA

BY MELCOR HOMES 1090 & 1092 Watt Promenade SW

SOUTHEAST EDMONTON | Call Naveshni 587.521.1444

elementsbycarrington.ca Please see our ad on the inside back cover

CONDOS FROM THE $170’S 5521 – 7TH AVENUE SW NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 49

SOUTHEAST

Townhomes and Condos Landmark Homes

has just opened up sales for Southeast Edmonton’s coolest new townhome and condo community: The Village at Walker Lakes. This new community is a unique mix of classic style blended with earthy innovation. It’s the perfect place for professionals, downsizers and small families to stay current and enrich their lives with culture, while putting down strong healthy roots. The Village at Walker Lakes is a new development with both townhomes and apartment style condos in a prime Southeast Edmonton location - close to amazing shopping, abundant restaurants, and myriad other amenities.

This is the heart and hub of authentic community based living, as inspired by networks of villages that have evolved over many years in the UK especially Scotland, where the name “Walker” originates. The development features two exceptional townhome models, both including

it’s what’s inside

walk out options onto the pond. These models are the Haxby and the Bute.

The 1290 sq ft Haxby plan is a stunning two bed two and a half bath home designed for living with ease. Enjoy visiting with friends and family in the open concept main floor layout, and find tranquil moments by retreating to either of the two huge bedrooms upstairs. This includes an elegant master bedroom with a sizable ensuite.

Current. Cultured. Rooted.

The 1790 sq ft Bute is a spacious three bed two and a half bath home that artfully balances style and function across three floors. It’s beautiful open concept kitchen on the main floor is the perfect place to craft and enjoy delicious meals, while the large living room is designated for entertaining and spending quality friends and family time. Upstairs

you’ll find three sizable and thoughtfully placed bedrooms for everyone to enjoy some peace and quiet. The bright master suite also features a walk-in closet and an ensuite.

The attached garage of both the Haxby and Bute plans make coming, going and storing seasonal items a breeze. And the basement flex room offers endless possibilities for the future: room to accommodate a growing family, a guest room, or perhaps a home office? Some basements in both plans are even available as walk outs right on to the pond!

The Bute and Haxby townhomes are now selling at the newly opened sales centre at 804 Welsh Drive SW, just off of Ellerslie Road.

Condos will be available for sale in Spring 2015.

The Village at Walker Lakes will offer seven fantastic condo plans, ranging in size and layout.

If you’re looking for a new condo, then The Village at Walker Lakes could be the perfect place for you!

Check LandmarkHomes.ca for the announcement of the condos sales centre opening and to get all the details about the condo floor plans!

The Village at Walker Lakes is an amazing place to call home. It will have a central green space to meet your neighbours, picnic with your family or simply sit and soak up nature – as well as a lovely pond to stroll around on site, and proximity to other nearby lakes. If you’re a single professional, downsizer or a small family looking to put down some roots in a fresh new community that values culture and staying current – then this is the place for you.

TOWNHOME SALES CENTRE Dennis Warwa 780-701-3078 dennisw@landmarkgroup.ca CONDO SALES CENTRE COMING SOON

PROJECT PROFILE

SOUTHERN SPRINGS VILLAS AT WALKER LAKES STATION Final phase!

T

he beautiful townhomes of Southern Springs at Walker Lakes Station are in their final phase of sales!

This outstanding Park Homes development combines modern and spacious living with a zero-maintenance community. Two- and three-bedroom home options are available with prices starting at $279,900 including GST. This southeast community is conveniently located just off of Ellerslie Road, providing residents with the benefit 52 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

of light neighbourhood traffic, plus easy access to major roadways like the Anthony Henday. First-rate amenities are only minutes away from Southern Springs, with the sprawling South Edmonton Common offering numerous shopping, restaurants and entertainment options for residents to enjoy. With its exceptional water-side location in the Walker Lakes neighbourhood, residents will enjoy these natural surroundings throughout the year.

Phase one of Southern Springs is now completely sold and homes in the final phase are selling quickly. These three-storey villas are sure to impress with an open-concept floor plan and contemporary design. Nine home style options ranging from 1,205 to 1,633 sq. ft. ensure there are plenty of options to suit different lifestyle needs. All floor plans feature two or three generously sized bedrooms on the third floor and airy nine-ft. ceilings on the main level.

Three expertly chosen colour schemes provide instant style and a modern vibe.

Stunning polished quartz countertops are included with each home and are

presented throughout the kitchen and baths, adding to the luxurious feel of the home. Plenty of counter space is available in the lavish kitchen, which offers an island with extended eating bar that comfortably seats three. Also included in the kitchen are four appliances, gorgeous cabinets with brushed steel pulls and handles, and beautiful ceramic tile backsplash. A roomy back balcony extends the length of the home and comes complete with a gas line for your barbecue.

Designer-selected contemporary laminate flooring accented with modern baseboards is featured throughout the main level of the home.

The open floor plan between the kitchen, dining and living area creates a perfect setting for entertaining family and friends. Numerous oversized exterior windows, with complementary horizontal window

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 53

coordinating heritage colours and pot lights over the driveway. Plus, you will have access to the exclusive freestanding clubhouse facility with fitness centre and homeowners’ lounge.

Southern Springs offers fantastic value and a wide variety of townhome options in the coveted south side of Edmonton, providing both first-time buyers and those looking to downsize an affordable option without sacrificing style and sophistication.

Don’t miss out on this opportunity to join this exceptional development and for limited time, enjoy a free upgrade to stainless steel appliances! coverings, provide natural lighting throughout the space and enhance the open atmosphere of these trendy villas.

All three bedrooms offer large extended windows that carry the fresh feel of the home to the third floor. The spacious master bedroom includes double closets and a lovely full bath ensuite. A main full bath and conveniently located, stackable washer and dryer complete the third level of the home.

Aside from its outstanding location, what sets Southern Springs Villas apart from most townhome developments is the attention to detail and level of quality that is presented throughout each home. The lower level entrance offers a finished flex space that is perfect for a home office, gym or children’s game area.

A finished full-sized attached two-car garage includes a convenient floor drain, hot and cold water taps, and remote openers. The attractive exteriors add to the curb appeal of the development, with high-performance vinyl clad siding in 54 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

For more information or to learn more about Park Homes’ Southern Springs Villas, visit their website at southernsprings.parkhomes.ca or call Robin Johns at 780.701.5616.

If it is a condo that you are looking for, there are still three left, starting at $249,900 including GST. Visit the show home and presentation centre at #11 655 Watt Blvd. from Monday to Thursday from 3 to 8 p.m.; Saturday, Sunday, and holidays from noon to 5 p.m.

SherwoodPark Hwy. 16

1y a sW de

dows Mea dale k r la C 8 . d Blvd rlton erwoo Cha Way Summ

4

Lakeland Dr.

ver Bar Rd. Clo

Pa lisa

6

Jim Commo nD r.

Baseline Rd.

Beauvista Dr.

14

Wye Rd.

1

Sherwood Park Fwy.

PRINCETON COURT

.

Wye Rd.

Range Rd. 232

MAP LISTINGS

Range Rd. 233

14

21 d Blv

TO EDMONTON

Brentwood Blvd.

ood Dr. Sherw

Grana d

6 ASPEN TRAILS DUPLEXES

BY GRANDE DESIGN

BY ROHIT COMMUNITIES

301 Palisades Way

100 Axbridge Gate

2 CREEKSIDE VILLAGE IN SUMMERWOOD

BY QUALICO LIVING

Summerwood Blvd. off Clover Bar Rd. 3 ELEMENT LOFTS & FLATS

BY QUALICO LIVING

41 Summerwood Blvd.

4 LAKELAND RIDGE

BY LANDMARK COMMUNITIES

219 Charlotte Way 5 CENTRE IN THE PARK

BY CHRISTENSON COMMUNITIES

2021 Sherwood Dr.

7

a

14X

Sherwood Dr.

Broadmoor Blvd.

5

2 9 3 10

7 ESTATES AT SUNVIEW LANE

BY QUALICO LIVING

5300 Sunview Lane 8 ETON PARK VILLAS

BY CHRISTENSON COMMUNITIES

Emerald Hills Aspen Trail & Eton Blvd.

9 ASPEN TRAILS

BY ABBEY LANE HOMES

Axbridge Gate off of Lakeland Dr. 10 SUMMERWOOD DUPLEXES

BY ROHIT COMMUNITIES

100 Axbridge Gate

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 55

IN THE NEWS

Prairie housing starts to take a dip in 2015 & 2016

O

il prices are down and housing starts in the Prairies are expected to follow 2015 and 2016, thanks to economic uncertainty, existing housing inventory and decreased demand, according to the First Quarter 2015 CMHC Housing Market Outlook released recently

by Canada Mortgage and Housing Corp. (CMHC).

Housing starts in the Prairie region are projected to decrease from 55,067 in 2014 to 49,600 in 2015 and 48,000 in 2016.

“Lower oil prices will have a dampening effect on investment and economic growth, particularly in Alberta and to a lesser extent Saskatchewan. This will contribute to slower employment growth and net migration, in turn slowing housing demand. With key drivers less supportive of housing demand and supply levels elevated in some markets, housing starts in the Prairie region are expected to decline in 2015 and 2016,” says Lai Sing Louie, CMHC’s regional economist.

56 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

In Alberta, housing starts will decrease from 40,590 units in 2014 to 36,000 in 2015 and 34,500 in 2016. In Saskatchewan, housing starts will decline from 8,257 in 2014 to 7,300 in 2015 and 7,200 in 2016. In Manitoba, starts will remain close to 2014 production and remain stable with 6,300 units in 2015 and 6,300 in 2016.

While the large number of migrants to the Prairie region over past years will support sales in the resale market, economic uncertainty created by declining oil prices will impact employment and temper demand. In Alberta, after increasing by over nine per cent to 71,773 in 2014, Multiple Listing Service (MLS) sales will decrease to 71,100 in 2015 before edging higher to 71,600 in 2016 as economic conditions improve. In Saskatchewan, MLS sales are forecast to decrease from 13,868 in 2014 to 13,600 sales in 2015 and remain near this level in 2016.

MLS sales in Manitoba are projected to edge higher from sales of 13,782 in 2014 to 14,000 in 2015 and 14,200 in 2016 as employment growth increases.

After leading the Prairie region with a 5.2-per-cent price gain in 2014, Alberta will record more modest price growth moving forward. With rising listings and lower demand in 2015, price growth in Alberta will ease to below two per cent to an average of $407,100 in 2015 and $415,000 in 2016. In Saskatchewan, the average resale price rose by 3.3 per cent to $298,359 in 2014. As sales growth flattens, price growth in Saskatchewan will also ease to below two per cent, lifting the average price to $302,500 in 2015 and $307,800 in 2016. In Manitoba, the average resale price rose 2.1 per cent in 2014 and is projected to rise by 2.3 per cent to $272,400 in 2015 and $278,800 in 2016 as sales trend higher.

Downside risks have increased since the previous forecast, due mainly to recent declines in oil prices. As a result, CMHC has widened the forecast ranges for housing starts, MLS sales and average MLS prices to reflect these risks. In Alberta, where the risks associated with oil prices are most pronounced, housing starts are expected to range between 23,400 and 38,700 units in 2015 and between 20,300 units to 38,000 units in 2016.

MLS sales are expected to range between 58,000 and 74,800 units in 2015 and between 50,900 units to 76,200 units in 2016. The average MLS price is forecast to be between $376,800 and $420,400 in 2015 and between $380,700 and $431,600 in 2016.

lvd .

Leduc

4

50 Ave.

48 St.

2

50 St.

Grant MacEwan Blvd.

High way 2

rt B Bridgepo

Telford Lake

3

Black Gold Dr. Black Gold Dr.

Dr. Park South

St. 50

1

Hig hw ay

Rollyview Rd. 2A

Dr. Southfork 5

Simpkins Wynd

6

MAP LISTINGS

1 WINDROSE

3 ROYAL WEST HOMES 81 Acacia Circle

BY LANDMARK COMMUNITIES

61 Windrose Drive

4 SUNTREE POINTE

2 THE SPRINGS AT BRIDGEPORT

BY DAYTONA HOMES MASTER BUILDER

133 -142 Selkirk Place

BY CHRISTENSON COMMUNITIES

102 Bridgeport Crossing

5 THE RUSHES OF SOUTHFORK

BY HUNTER RESIDENTIAL DEVELOPMENTS

401 Southfork Drive 6 SOUTHFORK STREET TOWNS

BY HOMES BY AVI

419 Simpkins Wynd

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 15,000 and growing “Small city” living within minutes of “Big city” amenities LOCATED 20 kilometers south of Edmonton on Hwy. 2 SCHOOLS 7 Elementary, 2 Junior & 2 Senior High - Public, Private & Separate school systems 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

Affordability

THE

ADVANTAGE!

by HUNTER RESIDENTIAL DEVELOPMENTS

2 bedroom, 2 bathroom townhomes with attached garage from the mid-200s!

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

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 57

Published by

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere!

Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

NEWCONDOGUIDE.COM

NorthEastEdmonton 8 16710Ave.

M Fo ANNIN GF rt WY. Rd .

34 St.

9

Rd .

137

Fo rt

132 Ave.

129 Ave.

120 Ave. 95 St.

118 Ave.

58 St.

122 Ave.

121 Ave.

.

Ave d.

112 Blv a Ad

CAPILANO BRIDGE

MAP LISTINGS

2 Hooke Rd. Hermita ge Rd. YEL LOW HEA DT RAI L 38 St.

3

127 Ave.

20 St.

137 Ave.

34 St.

87 St.

144 Av e.

151 Ave.

.

Ave 144 6 11 Ave.

Victoria Tr.

50 St.

66 St.

7

22 St.

5

82 St.

97 St.

.

160 Ave . e v A 153

195 Ave.

4

91 St. 1

104 Ave. North Saskatchewan River

5 BRINTNELL SUMMIT

1 TOPAZ

BY PARK HOMES

BY QUALICO LIVING

70-8318 180 Ave.

445 Brintnell Blvd NW

2 ELEMENTS AT HERMITAGE

6 CLAREVIEW VISTAS

BY LANDMARK COMMUNITIES

BY CARRINGTON COMMUNITIES

1196 Hyndman Road

3625 144 Ave NW 7 CASSELMAN LANDING

3 STATION POINTE

BY ROHIT COMMUNITIES

#1, 5203 - 149 Ave.

BY BCM HOMES

403 Belvedere Way

8 AIR HARBOUR/ALTITUDE

4 NORTHSHORE

BY CARRINGTON COMMUNITIES

6076 Schonsee Way NW

9 CY BECKER DUPLEXES

BY ROHIT COMMUNITIES

118 Cy Becker Blvd.

10 ELEMENTS AT MCCONACHIE

BY CARLISLE GROUP

167 Ave. & 53 Street 11 SAVIDA

BY LANDMARK COMMUNITIES

3650 - 139 Avenue NW

BY ROYAL WEST HOMES

175 McConachie Dr.

NORTHEAST EDMONTON | Call Debbie 780.473.9143

FI N A L

SE LL O F F!

elementsbycarrington.ca Please see our ad on the inside back cover

2 BDRM CONDOS FROM THE $200’S 1196 HYNDMAN ROAD (Off Victoria Trail, Second right on Hyndman Crescent) NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 59

You’re ready to make your move

Convenient appointment, day or night, home or office • Competitive rates on a wide selection of mortgages •

For convenient mortgage service, contact: Nancy Bruno-Romeo Mobile Mortgage Specialist Tel.: 780-973-8892 Cell: 780-908-7183 nancy.bruno@bmo.com What’s next for you?

® Registered trade-mark of Bank of Montreal.

Mortgage Expertise at Your Doorstep 24/7 74_BMO_20/13

Here’s what you can do to Recycle, Renew and Reuse • Keep your car in good working order. Tune-ups and filter changes cut down on exhaust emissions, and you’ll get better gas mileage.

When you change your oil, take your used motor oil to a recycling centre.

• Use available transit alternatives.

• Separate your garbage. Glass, aluminum, paper and even plastic can be recycled. If a recycling program is not directly available to you, contact your municipal sanitation department.

• Donate reusable clothing and linens to charity.

Most pick-up regularly in your area.

• Become environmentally active in your community.

You can make the world a better place to live... now and for future generations.

Recycle girl(15/10)-ja/ah

RING P S E LAT ESSION S POS

5% Down and Pay Nothing More Until You Move In! That’s it. When you put 5% down on a brand new town home at Topaz,

by Park Homes, you have nothing more to pay until you take possession.

Topaz continues the success of our highly popular Signature Series of two and three bedroom townhomes: Elegant exteriors with charming window boxes; interiors designed for contemporary living; warm laminate flooring; gourmet kitchens with quartz countertops; elevated nine foot ceilings on the main floor – and every home has an attached double garage!

Prices starting from the $270’s incl. GST Pre-sale Centre and show homes can be Viewed at Mirra at Poplar Lake 70 – 8315, 180 Ave Telephone: 780.472.7544 Mon to Thurs: 3 – 8pm Weekend & Holidays: Noon – 5pm

topaz.parkhomes.ca follow us on

CRYSTALLINA NERA

and

NEW SHOW HOMES NOW OPEN

ASK ABOUT OUR IMMEDIATE POSSESSIONS

L

THE RADIANCE IN EAUX CLAIRES

ocated at the corner of 95th street and 160th avenue, Footprint Developments presents their exciting new condominium and townhome development in Eaux Claires. Ideally situated just off 97 street, the Radiance is the ultimate home choice for buyers who are looking for convenient, urban style living with an exceptional location.

Residents of the Radiance will find themselves surrounded by an abundance of first-rate amenities, including supermarkets, banking, restaurants, schools, and much more. This charming northwest neighbourhood provides access to major roadways that are only minutes away, including the Anthony Henday, allowing for quick and easy commutes in and around the city.

Offering two styles of homes to choose from, condos and townhomes, the Radiance development presents numerous home size and pricing options that are sure to suit an array of lifestyle needs. Each Radiance product offers buyers the added benefit of energy efficiency.

Built Green, these homes were designed with the environment in mind and have been engineered to maximize efficiency and reduce waste.

Each home features double pane windows, energy efficient appliances, low VOC paint, and several other environmental conscious features that add value and plenty of appeal to the property.

The four storey condominium building features a modern exterior with brick accents and aluminum cladding. A heated underground

62 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

parkade provides homeowners with safe and secure parking, also ensuring vehicles are warm and snow-free throughout the winter season, while ample visitor parking offers guests convenient access to the main entrance.

Spacious common areas, plus pressurized and air conditioned corridors, enhance the building’s comfort. A video security camera entrance system allows for a secure entrance into the Radiance condominiums, providing peace of mind for all residents.

Suites range from 601 – 1,168 square feet and are available in one bedroom plus one bath and two bedroom plus two bath options. There are ten floor plans to choose from, including limited availability for a three bedroom plus two bath floor plan option. Each suite features an open

NORTHEAST

concept floor plan with upgraded laminate flooring throughout. A designer lighting package and quartz kitchen countertops compliment the modern design of the suites. Stainless steel appliances, three inch baseboards and Decora style light switches all increase the visual appeal within these beautiful homes. Plus, an in-suite laundry and storage area with stacking washer and dryer offers added convenience. Each home also features a covered balcony allowing homeowners to utilize their outdoor space throughout the year.

Radiance townhomes offer spacious home living with the all the benefits and convenience of condo amenities. Perfect for consumers who are looking for multi-level living space, these two storey homes combine urban style and private living. Each three bedroom home offers an extensive list of features, including an oversized two-car garage with flex space, a large balcony with gas BBQ outlet, and beautifully finished exterior with stone accents.

The front yards are also expertly landscaped and completed with trees and shrubs.

The townhomes’ interiors have been designed with contemporary luxury in mind. Stylish lighting and 8 foot ceilings enhance the open concept style that is presented. An exceptionally spacious kitchen

PERFECT FOR CONSUMERS WHO ARE LOOKING FOR MULTI-LEVEL LIVING SPACE, THESE TWO-STOREY HOMES COMBINE URBAN STYLE AND PRIVATE LIVING features a wrap-around design with a decorative 6” high tile backsplash.

Modern flat panel kitchen cabinets and a stainless steel double sink ensure you have plenty of space to cater to family and friends. Five black or white appliances are included with the home, with the option to upgrade to stainless steel. Each townhome has been designed to allow for the most effective use of space and with convenient home living in mind.

All bedrooms and living areas feature TV and telephone outlets – ready for use right when the homeowner moves in.

With over 67 years of residential and commercial development experience, the Footprint Developments Management team have the knowledge and expertise in creating exceptional apartment condominium, duplex, and townhomes that fit the needs of home buyers. Specializing in efficiently designed homes, Footprint developments provide home buyers with a quality product that features energy efficient technology and convenient designs. Phase one condos at the Radiance are sold out! Phase two is now over 60% sold with prices starting in the upper $100s.

Townhomes are in high demand at the Radiance with townhomes in phase one of the development almost completely sold out! Sales are also strong in the second phase of the project and with townhome prices starting from the mid $200s this is definitely an opportunity you won’t want to miss out on!

For more information or to learn more about the condominiums and townhomes at The Radiance visit their website at www.radiancecondos.ca or call Suzie at 780.940.1803. Visit the sales centre at 9505 160 Avenue NW, Monday to Thursday from 3 to 8pm. Saturday, Sunday, & Holidays from 12-5pm.

SELLING FAST!

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 63

NEW CONDOS NOW SELLING from $156,900 CONDO SALES CENTRE 3650 - 139 Ave NW Dolton Rayne doltonr@landmarkgroup.ca

NORTHEAST EDMONTON

LIVEatSAVIDA.ca | 780-701-3093

DONATE TODAY. STOLLERYKIDS.CA With your support, the Stollery Children’s Hospital Foundation is able to provide life-saving equipment, research that paves the way for new treatments and cures, medical innovations and specialized training, so that every child has the chance to go home again.

fr e s h .v iv

id .l if e s ty

le

DowntownEdmonton 118 Ave. 112 Ave.

10

9 Jasper Ave. 100 Ave.

3 97 Ave.

.

82 St. LOW LEVEL BRIDGE JAMES McDONALD BRIDGE

106 St.

Victoria Park Rd. Rive r Va lley Rd

7

w Ro

.

Rd

St.

2 1 6 5

102 Ave.

d lan

92

11

104 Ave.

13

yA ve .

100 St.

107 Ave.

4 8

wa

105 St.

116 St.

14

109 St.

127 St.

142 St.

144 St.

12

gs

KINNARD RAVINE

t.

95 S

104 Ave.

Kin

.

97 St

124 St.

111 Ave.

101 St.

111 Ave.

DAWSON BRIDGE

Bellamy Hill HIGH LEVEL BRIDGE 105 ST BRIDGE

MAP LISTINGS

1 THE ULTIMA

North Saskatchewan River

6 ENCORE

11 QUEST

BY WESTRICH PACIFIC

BY WESTRICH PACIFIC

BY REGENCY DEVELOPMENTS

10244 - 103rd Street

103 St. & 102 Ave.

Corner of 104 Ave. & 105 St.

2 THE FOX

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.

12 HIGHSTREET DISTRICT PROPERTIES

BY REGENCY DEVELOPMENTS

8 STUDIO ED Corner of 116 Street & 106 Avenue

10523 - 123 St. 13 GROVENOR MANOR

BY PELHAM MASTER BUILDER

9 MERIDIAN PLAZA

BY CANCALI DEVELOPMENTS

111 St. & Jasper Ave.

10126 – 144 Street 14 INFINITI ON 105

BY MCLEOD PROJECT MARKETING

10 PEARL

BY REGENCY DEVELOPMENTS

105 Street, west of 117 Ave.

Jasper Avenue & 119 Street.

DOWNTOWN EDMONTON | Call Riley 780.705.1350

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

Please see our ad between pages 18 and 19

CONDOS FROM $165,900 10604 – 116 Street NW NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 65

Edmonton’s best downtown location At 33 stories, Fox Two occupies the centre of Edmonton’s most sought-after downtown neighbourhood — the 104 Street Promenade. Situated on the corner of 102 Avenue and 104 Street, it is the last major tower to be built on this popular street.

Fox Two is the final and taller phase of Langham Developments’ Fox Towers project. The first phase — Fox One — is currently under construction and almost sold out.

Edmonton’s 104 Street Promenade was one of 4 finalists on the 2013 list of Great Streets in Canada, and is home to eclectic shops, restaurants and a summertime street-wide farmers’ market. Boasting a walk score of 98/100*, residents also enjoy unparalleled walkable and LRT access to the best of Edmonton, including the highly anticipated downtown arena.

Another Langham development, Icon Towers completed in 2010, was instrumental in hastening the rejuvenation of this popular neighbourhood, and the Fox Towers project will further cement its popularity.

*www.walkscore.com

Architectural excellence This striking 33-storey tower embodies superior design and quality in every respect.

From the expansive glass feature wall commanding spectacular views of the city and river valley, to the bold and colourful suite interiors that reflect today’s most popular trends — Fox Two is modern architectural elegance personified.

Stylish, well-conceived interiors Our dedicated team of designers were charged with creating the most efficient floor plans possible for every suite type in Fox Two. Every fixture, every fabric, every finish was selected to reflect today’s most popular trends and ensure timeless quality, beauty and longevity.

From architectural nuances like quartz kitchen countertops paired with sleek and colourful high-gloss kitchen cabinets, to creature comforts like heated parking stalls (at least 1 per unit), Fox Two is a testament to comfortable highrise living.

Choose from a total of 169 units in 1-3 bedroom configurations from 640 to 2,400 square feet.

The latest project from Langham Developments Since 2001, Langham has been creating exceptional developments — each imbued with the same unwavering mandate: to deliver strong unrivaled architecture, uncompromised in quality.

Langham is among Edmonton’s most experienced and reputable high rise builders, having completed 3 outstanding downtown towers to date: Icon 1, Icon 2 and Omega.

Construction has now started on Fox Two

Visit our Sales Centre on-site at the northwest corner of 102 Ave. and 104 St.

www.foxtowers.ca | 780.425.0369

symphony

TOWER

9704 - 106 STREET

(780)701-0058

DOWNTOWN

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 69

DESIGNER ADVICE

The

luxe look

By Yanic Simard

W

e know the look of luxury when we see it, but how do you create it? The art of luxe design is not simply a matter of spending money, but more one of spending time to create spaces with depth, sophistication, and a certain considered air.

Here’s my professional opinion on how to add a sense of luxury to your every interior, to bring that designer appeal out of your personal investment.

The key is to combine multiple shades, textures and tones to achieve a calm but complex look – subtle contrasts accent each other’s finest qualities

Powerful Palettes › One of the most subtle yet powerful ways to communicate a sense of luxury is through the use of an expertly assembled neutral colour palette. When done wrong, the look can read drab, but when created correctly the scheme reveals new depths upon every viewing. The key is to combine multiple shades, textures and tones to achieve a calm but complex look – subtle contrasts accent each other’s finest qualities.

› Review your space and consider what subtle tones are the strongest. For example, if you have a warm-hued floor, add some touches of cool metals or icy-grey leather to play against it. Look for places to add white, cream, beige, taupe, grey, “greige” (grey-beige), tan, brown, gold, bronze and tiny touches of black, while mixing soft and hard textures for full variety. By sticking to neutrals you’ll be sure to coordinate, as long as you reapply warm and cool tones throughout the room.

70 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

Lotus Capiz Shell Tea Light Holder

Luxe Look: Sheep-fur pillows always add a rich textural statement, or try a small splash of an animalinspired pattern. (Safari Crewel Embroidered Cushion, Yanic Simard Selected Collection.)

Areas of Interest: › I often encourage clients to run one flooring material throughout a space, applying a single hardwood to the living, dining, bedroom and even kitchen areas, making a clean, continuous statement. However, this doesn’t mean you should avoid carpeting altogether, but actually the opposite: layering a large area rug over your hardwood creates the most sophisticated statement. › Size a rug to leave about one to two ft. of floor exposed at each side, making sure the carpet tucks under your seating. Enough wood will show around the borders of the room to reveal its presence, while giving you a soft surface to nestle into and an opportunity to add a new colourful or elegantly textural statement.

Luxe Look: Cream carpeting layered over deep espresso walnut.

Light Up the Dark › Embracing wood or stone finishes on vertical surfaces adds visual texture and a sense of intimacy to a space, but can absorb a great deal of light and leave an area feeling heavy.

Layering light is always important, but be sure to add extra sources around your dark cabinetry, wardrobes or other weighty elements. Ensure as many lights as possible are controlled by a dimmer to allow you to adjust the atmosphere to suit your mood. › A dropped ceiling panel over an island provides space for a plenitude of new pot lights, while subtly defining a zone within an open plan.

Diversity of light sources avoids harsh shadows, for a rich glow, so consider adding soft new lights to every room.

Luxe Look: Use at least three light sources in every space. Consider adding tea light holders in warm metallics to add a complex golden glow anywhere.

Bronze Rose Tea Light Holder

Safari Crewel Embroidered Cushion from the Yanic Simard Selected Collection

Hidden Depths › A full wall of floor-to-ceiling drapery is a powerful designer trick in more ways than one: it creates a rich textural backdrop that speaks of bespoke craftsmanship, but also erases any imbalances or asymmetry in the placement of windows, bulkheads, or other awkward architectural features, for a seamless look. › Draping an entire wall with no break (on a hidden track in the ceiling if possible) puts the focus on the beautiful material, and anything else you choose to layer in front of it. Don’t be afraid to apply a textural fabric behind an upholstered headboard for a doubly luxe bedroom setting (with extra sound dampening).

Luxe Look: Use simple un-pleated drapery in a textural linen to create soft elegant waves of material.

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 71

AFTERTHOUGHTS:

HERE ARE A FEW OTHER WAYS TO ADD LAST-MINUTE LUXE TOUCHES TO YOUR SPACE – EVEN AFTER THE DESIGNER HAS LEFT.

› Replace two chairs at your dining table with a bench or settee to create the feeling of a private booth, and a fun visual surprise. › Trade out busy bedding for white linens with a single colourful bolster matched to an upholstered bench. Add a faux fur throw folded neatly at the foot for additional touchable texture. › Have a good florist create a cactus planter to add exotic flair that will survive your week away unattended. › Instead of adding a lamp to the bedside table, order a floor lamp with a built in table from a lighting boutique, for an uncommon, traditional yet modern twist. › When your space is already beautiful, the most stunning artwork will be an oversized mirror in a textural frame.

Tantalizing Tile › The must-have bathroom statement of the design era is an oversized tile wall, applying a richly grained stone floor to ceiling for the ultimate spa-like atmosphere you can enjoy every day. › Pairing this treatment with a minimal glass shower enclosure and sparkling neutral fixtures (in white, dark woods, and nickel) lets the natural patterning take all the well-deserved attention. Add a cut-crystal vessel sink as the jewel of this treasure chest.

Luxe Look: Try Roberto Cavalli tile installed vertically on a simple offset.

72 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

Yanic Simard is New Condo Guide’s design editor, principal designer of award-winning Toronto Interior Design Group (tidg.ca), and regular guest expert on City’s Cityline. Check out Yanic’s accessory line, Yanic Simard Selected, by visiting online at ysselected.com

SouthCentralEdmonton North Saskatchewan River

6 3

75 St.

92 St.

1

99 St.

103 St.

9 r. an D hew c t a Sask 104 St.

84 St.

95 Ave.

Co nn or s 7 Rd.

10

90 Ave. 83 St.

105 ST BRIDGE

5

101 Ave. 98 Ave.

85 St.

Sas kat che wa nD 2 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.8 76 Ave.

4 51 Ave.

MAP LISTINGS

1 MILL CREEK PARK

BY PARKWOOD MASTER BUILDER

8515 - 99 Street 2 BENTLEY IN WINDSOR PARK

BY YORKTON GROUP INT’L

11710 - 87 Ave. 3 THE ARBOR AT AVENUE 83 10002-83 Avenue

4 THE UNIVERSITY BROWNSTONES

BY TESSCO

108 St. & 71 Ave.

8 STUDIO OFF WHYTE

BY I4 PROPERTY GROUP

104th St & 81st Ave 9 STUDIO ON THE HILL

BY I4 PROPERTY GROUP

5 LUMIERE

BY INFINITI DEVELOPMENTS

10836-85 Ave.

9859 – 90th Ave 10 CASCADE CONDOS

6 THE ADDISON

BY PK DEVELOPMENTS

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9008 85 Avenue

10024-83 Ave. 7 Le Quartier Condos

BY INFINITI DEVELOPMENTS

8627-91 St

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 73

THE UNIVERSITY

BROWNSTONES F

ollowing the great success of Phase One of The University Brownstones, we are proud to announce the second phase of their multi-family development. Built on the foundations of quality, value and innovative design these 72 spectacular units are a welcome addition to this in-demand address. With a prime location in a charming mature neighbourhood, The University Brownstones is a unique project surrounded by character homes, and all the amenities of an established community. Situated at 108 Street and 72 Avenue, residents will be conveniently located just steps from the Garneau, the University of Alberta, and the Whyte W hyte Avenue shopping and entertainment district - all • Excellent location, close to within walking distance! Just U of A and Whyte Ave. a few minutes • Spacious designs with 9 away is the scefoot sprinklered ceilings nic river valley, where outdoor • Upgraded appliance packenthusiasts can age and soundproofing enjoy plenty of activities. Plus, • Beautiful central courtyard getting to the and glass elevators downtown core is hassle free • Underground heated parkwith just a quick ing and 24 hour video LRT ride. Making monitored security your next home at The University • Backed by New Home Brownstones is Warranty easy as only a 5% down payment is required.

With this type of opportunity, buyers are encouraged to act now to ensure their home style preference is available.

The design of The University Brownstones is as distinctive as the neighbourhood it is located in. Glass elevators with vestibules and covered, open pedways that link all parts of the development add to the unique European look and feel. The stylish pedways also create private, separate entrances to each suite, allowing for more windows since suites back onto the open pedways rather than a

closed in hallway. Adding to the bright and airy environment is the wonderful feature of a central courtyard. The University Brownstones, will have the same quality and design as found in its many other sought-after developments, but with more of an Old World flair.

At The University Brownstones, buyers will discover spacious suites that range from 745 to 1,600 square feet and present an array of floor plans to suit a wide variety of tastes and lifestyles including one bedroom, one bedroom plus den, two bedrooms and even a couple of three bedroom suites. The den in the one bedroom suite option is designed so that it can easily be used as a second bedroom. Inside each suite, buyers will appreciate the open great room plans, 9-ft. ceilings, huge floor-to-ceiling windows, kitchens with islands and raised eating bars. The selection of finishing packages and superior soundproofing are part of The University Brownstones.

Each unit is self contained, with a separate furnace, hot water on demand and telephone and cable access in almost every room. We skip the expensive amenities that are seldom used and instead puts the money saved into state of the art soundproofing – ultimately allowing condo fees to remain low. And, your surroundings are always secure, with 24-hour video monitoring in the parkade.

The University Brownstones is an impressive development that combines the coveted features of a mature, culture rich area with beautiful and visually interesting architectural design. With Phase I sold out, and the highly anticipated pre-sale now underway, you will not want to miss out on the exciting opportunity! Be sure to ask about our Free $10,000 upgrade package package. that is available for only pre-sale $1 5,000 upgrade the first pre-sales.

For25 more information visit the new show suite at 10811 Avenue Thursday 4-6:30pm or anytime For72more information visitfrom the Phase One Show Suite atby10808 appointment.

Call Troy Stenson at ReMax River City 780.439.7000 71 Avenue, open Monday to Thursday, 4-7 pm, weekends 1-5 pm or call Troy Stenson at Re/Max River City, 780-439-7000

COVERED COVERED with CARE www.blanketltd.ca www.blanketltd.ca

www.edmontoncondo.com

Visit us online for priority registration on Phase 2 and view our new upgraded construction specs 74 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

PHASE II 65% SOLD OUT! 9 PREMIUM SUITES REMAIN 2 BED - 2 BATHS STARTING AT $314,900 15K UPGRADE PACKAGE INCLUDED FOR FREE

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arbor83.com 780.246.4689 NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 77

What to do when you hire a contractor Many experienced and reliable contractors work in your community – highly skilled professionals who do business the right way.

Unfortunately not all contractors play by the same rules. Some cut corners to offer lower prices. They promise you a “good deal” as long as nothing is written down and you pay in cash.

These cash deals can mean a lot of risk for you.

Contractors who don’t do business properly don’t protect you from accidents or their mistakes. If there is a work-related injury or damage to your home, you could face lawsuits and financial loss.

You could be responsible for your contractor’s unpaid bills. And you could be stuck with work that is incomplete or badly done.

While serious, these risks are easy to avoid. Before you agree to let anyone work on your home, take these three simple steps: know who you’re dealing with, make sure you’re protected from risks, and always Get in in Writing! ™

How to find

a good contractor • Ask friends, family and neighbors about contractors they have hired to work on their homes.

• Contact your local Home Builders’ Association or other trade association for a list of professional contractors in your community.

• Ask your local building materials store if it has a list of recommended contractors.

• Ask your utility company if it has a list of recommended contractors.

• Check with your local Better Business Bureau to find out if a contractor is a member.

For more advice, including detailed information about contracts plus worksheets you can use when interviewing contractors, visit HiringAContractor.com For a listing of builder and renovator members, contact the Canadian Home Builder’s Association - Edmonton Region. Call 425-1020 or visit their website at chbaedmonton.ca Get it in Writing! provides information to help you make informed choices when you build, renovate, or repair your home. This program is managed by the Canadian Home Builders’ Association with support from the Government of Canada.

Get it in Writing(14/10)-/ja

78 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

HOMEBUYERS’ HELP

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

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 79

HOMEBUYERS’ HELP

You love the condo, see what you can afford!

INTEREST RATES

Calculate your mortgage payments

Amortization Periods

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

3.00

17.96

9.65

6.91

5.54

4.73

3.25

18.07

9.76

7.02

5.66

4.86

3.50

18.18

9.88

7.14

5.79

4.99

3.75

18.29

9.99

7.26

5.91

5.13

4.00

18.40

10.41

7.38

6.04

5.26

4.25

18.51

10.23

7.50

6.17

5.40

4.50

18.62

10.34

7.63

6.30

5.53

4.75

18.72

10.46

7.75

6.44

5.67

5.00

18.85

10.59

7.89

6.58

5.82

5.25

18.97

10.71

8.01

6.71

5.96

5.50

19.08

10.83

8.14

6.85

6.11

5.75

19.19

10.95

8.27

6.99

6.26

6.00

19.30

11.07

8.40

7.13

6.40

6.25

19.42

11.19

8.54

7.27

6.55

6.50

19.53

11.32

8.67

7.41

6.70

6.75

19.64

11.44

8.80

7.55

6.86

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE

BY THREE

AFFORDABLE MONTHLY PAYMENTS DIVIDED BY 12

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly before-tax income of you and your spouse.

05 Multiply this figure by the amount you need to borrow. Divide by 1,000.

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

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

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

07 If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

04 Refer to the chart above. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice.

(Most first-time buyers take the 25-year amortization.)

Bear in mind that this is a rough estimate.

If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

80 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

HOMEBUYERS’ HELP

Compare mortgage rates for your best deal VARIABLE

6 MONTHS

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

3.190

3.390

3.290

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

Peace Hills Trust

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

Rates are subject to change without notice.

NewHomeAndCondoGuide.ca | VOLUME 23 ISSUE 03 | NEW CONDO GUIDE 81

HOMEBUYERS’ HELP

Condo hunter’s checklist WHEN SHOPPING FOR YOUR DREAM CONDO, CARRY THIS LIST WITH YOU AND TAKE NOTES TO HELP YOU REMEMBER WHAT YOU SAW, AND WHERE!

CONDO #1

CONDO #2

CONDO #3

CONDO #4

Project & address:

Project & address:

Project & address:

Project & address:

Salesperson:

Salesperson:

Salesperson:

Salesperson:

Phone:

Phone:

Phone:

Phone:

Developer/builder:

Developer/builder:

Developer/builder:

Developer/builder:

Type:

Type:

Type:

Type:

midrise highrise

townhome conversion

midrise highrise

townhome conversion

midrise highrise

townhome conversion

midrise highrise

townhome conversion

Sq. ft.:

Sq. ft.:

Sq. ft.:

Sq. ft.:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

Interior appliances:

Interior appliances:

Interior appliances:

Interior appliances:

Options:

Options:

Options:

Options:

Parking facilities:

Parking facilities:

Parking facilities:

Parking facilities:

Special incentives:

Special incentives:

Special incentives:

Special incentives:

Price:

Price:

Price:

Price:

Down payment:

Down payment:

Down payment:

Down payment:

Condo fees:

Condo fees:

Condo fees:

Condo fees:

Financing available:

Financing available:

Financing available:

Financing available:

Other comments:

Other comments:

Other comments:

Other comments:

82 NEW CONDO GUIDE | VOLUME 23 ISSUE 03 | NewHomeAndCondoGuide.ca

t u b , e c n ie c s t e k c o e m It ’s not r o s e s i m o r p t ’ n ! a d e v l we c o v n ei b t ’ n o w chemist r y NO CONDO FEES FOR 6 MONTHS AT

HERMITAGE!

This is the final sell-off at this Northeast location that boasts ravine views* and close proximity to the Henday and Yellowhead. What are you waiting for?

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1196 Hyndman Road 780.473.9143

SALES HOURS Mon to Thurs 3PM - 8PM Sat, Sun, holidays 12PM - 5PM *select suites Closed on Fridays

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Jade’s location is sure to satisfy all shopping, entertainment and recreational needs. Jade is merely minutes away from West Edmonton Mall, Costco and a variety of service and retail stores. Only a short distance to River Cree Casino, Lewis Estates Golf Club, and Jasper Place Recreation Centre, the location offers plenty of outdoor recreation and leisure. Convenient access to Whitemud Drive and Anthony Henday adds to the appeal of this fantastic location.

This four-storey building features a fabulous two storey lobby and is located just west of Winterburn Road along Rosenthal Boulevard. Jade will be part of an exclusive development that will include multi-family as well as single family homes, situated around a central pond.

Carrington goes a step unique, contemporary fi The kitchen’s full-height laminate flooring in the contemporary feel. Als colours, a four-piece sta as a front-load washer an

In addition, you can de with Carrington’s comp abundance of choices e include granite counterto ceramic kitchen backspl and feature walls in desi

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esign your new home exactly how you like it mplimentary interior design consultation. An exist for customizing your suite, and upgrades ops; various cabinet styles and finishes; glass or lash; hardwood, cork or even leather flooring; igner colours.

cial room with wet bar & billiards, as well as a entre. Secure underground parking is included uest parking is available. With so many social vailable, Jade is big city convenience combined iving!

e is open from 3–8pm Monday to Friday, nday & holidays, and closed on Fridays. n call Trent at 780-426-1686. Stop by ion & pricing! Starting from the $190,000’s.

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• Secure, heated underground parking with storage

So

• 9’ ceilings on all floors

• Located in the Uplands of Mactaggart, Allure boasts close proximity to stunning natural spaces, fabulous amenities, as well as the Anthony Henday and Whitemud Drive • Cast-in-place concrete construction • Double, triple, and quadruple underground parking garages available • STARTING FROM $664,986

Building dreams come true for over 40 years!

WITH LOCATIONS THROUGHOUT EDMONTON – CARRINGTON HAS SOMETHING FOR EVERYONE

jade

*

FROM $193,900

SW

FROM $246,330

ALLURE

YELLOWHEAD TR

FROM $664,986

NW

FROM $201,900

508 Griesbach Parade NW 780.760.2002

northshore

RABBIT HILL RD 23 AVE

NE

FROM $175,900

• Ravine views available with some suites • STARTING FROM $200,300

SouthWest

• Full-height backsplash, laminate floors and six appliances included

*SEE OUR AD ON INSIDE BACK COVER

PMS1545: 53M100Y72K 8583 metallic

PMS 2204: 32C2M7Y1K

WINDERMERE BLVD JAMES MOWAT TRAIL

91 ST

• Walking distance to a vibrant new town centre, future LRT station and recreational complex, Blackmud Creek Ravine and much more

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

ELLERSLIE RD 111 ST

SALES HOURS

1144 Adamson Drive SW | 587.520.6775 • Immediate possessions available!

6076 Schonsee Way 780.476.1137

75 ST

valour

WHITEMUD DR

30 AVE SW 25 AVE

DR

507 Albany Way 587.520.3372

SHERWOOD PK FWY

ARGYLL RD

ROSENTHAL BLVD DR

FROM $189,900

GAR

NW

AVIVA

WHYTE AVE

WHITEMUD DR

HENDAY

10604 - 116 St NW 780.705.1350

ILLE

CEN

FROM $165,900

TERW

SW SE

vibe

ANTHONY

• STARTING FROM $187,900

75 ST

FROM $187,900 Savaryn Drive SW and 25 Ave 780.761.3144

T TR LBER

ARA

142 ST

• Contemporary wood cabinets in designer colours and full-height ceramic subway-style backsplash in kitchen

ST A

4042 MacTaggart Dr NW 780.756.2230

ANTHONY HENDAY DR

• Laminate flooring throughout suite entry, kitchen, living and dining areas

VIC

1144 Adamson Dr SW 587.520.6775

66 ST

FROM $200,300

TOR

É LAN

82 ST

• A winter wonderland bringing with it the promise of skating, cross-country skiing and sledding

167 AVE 97 ST

• Access to summer and winter fun in Edmonton's first and only recreational lake community

11080 Ellerslie Road 780.756.2230

SW

• Located in desirable Summerside

WINTERBURN RD

SouthEast

E’SCAPES

IA T R

W

1004 Rosenthal Blvd 780.426.1686

ALBANY WAY

SAVARYN DRIVE SW AND 25 AVE | 780.761.3144

. . . n e h W r e b m e m e R

1004 Rosenthal Blvd. | 780.426.1686

• Convenient access to the Anthony Henday and Whitemud Drive • 9' ceilings on all floors

• Two-storey lobby

The First “Royal Wedding,” 1981

Even then, Carrington was building condos Through some of recent history’s most memorable times, Carrington Communities has been in Edmonton and area building quality condos. For over forty years, more than 9,000 families have chosen us to be their building partner for their most important investment. That’s more than just a number—it is a statement of trust that

we take seriously to deliver quality, choice and service excellence to our customers.

So, when it’s time for you to buy a home where you will make your own memorable moments, trust Carrington Communities to deliver a product that will stand the test of time.

2014 Awards of

EXCELLENCE in HOUSING Supported by

2014 CHBA-Edmonton Multi-Family Builder of the Year

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

There were 3,500 people in the congregation at St. Paul’s Cathedral. It was held at St. Paul’s rather than Westminster Abbey because St. Paul’s offered more seating and permitted a longer procession through the streets of London. Widely billed as the “wedding of the century,” it was watched by an estimated global TV audience of 750 million.

• STARTING FROM $193,900

P R I N T L O G O A P P L I C AT I O N

6076 Schonsee Way | 780.476.1137

S I G N L O G O A P P L I C AT I O N

NorthEast

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• Secure, heated underground parking with storage

West

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• Laminate floors, full-height backsplash, and stainless steel appliances

• One bedroom, two bedroom, and two bedroom plus den suites available • Underground heated parking, laminate flooring, window coverings, and six appliances included • Just minutes from shopping, dining and many other amenities • STARTING FROM $175,900

START THE NEW YEAR WITH A WHOLE NEW VIEW! Condos from the high $100s Townhomes from the mid $200s Visit Our Sales Centre at 160 Ave. & 96 St. Monday through Thursday 3-8 PM Weekends & Holidays Noon-5 PM | Closed Friday

780.940.1803

|

RADIANCECONDOS.CA