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.
M AR K
M ES
SIE R TR A IL
RT BE AL
MERIDIAN STREET (0 St.)
ST.
137 Ave.
AIL TR
DR.
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.
An th
on y
l rai rt T
127 Ave.
ail d Tr
gsw
124 St.
142 St.
149 St.
. Rd eld yfi
Kin
ay
s . es ve nc A Pri beth a Eliz
Ave .
111 Ave.
Ma
178 St.
184 St.
170 St.
199 St. 215 St.
156 St.
a whe 118 Ave.
o Yell
109 St.
He
lbe
135 St.
137 Ave.
Dr
11 13
A St.
16
nd ay
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
tT r.
167 Ave.
ED
M
ON
TO N
156 St.
170 St. Gerva is
Av e. 184 St.
Levasseur Rd.
ud re au
Rd .
ton ins W Sir
er Riv
Bo
. ve lA l i h urc Ch
4
Ga te
n eo rg Stu
3
Sturg eon Rd .
ve. yA enn K c M
Kin gsw ood Blvd.
lle Be
Ro ad He be rt
. x Rd irou
ron Per
Lacombe Dr.
2 ert . St. Alb
G
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
ES UT ON IN ONT M 7 DM E TO
21 ay K hw PAR Hig OD N. O O 1 ERW NT SH MO TES TO & ED MINU 0 1
Hig hw ay
15
. 2 St
15
t. 82 S
Westpark Drive
e. ve. Av 95A A 94 We stp ark 84 St. Wo Blv od d. Clo sme se re
ve. 97 A
BR 17 K UD M ER TO HE IM
1
e. Av
St. 101
99
e. Av 99
ay hw Hig
rth No
1
er Riv an w e tch ska Sa
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
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 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
BY PK DEVELOPMENTS
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
IMMEDIATE POSSESIONS
CONSTRUCTION IS NOW COMPLETE
SHOW SUITE: 10811 72 AVENUE
THURSDAY 4-6:30PM OR BY APPOINTMENT ANYTIME
SOUTHCENTRAL
Beautifully Designed.
Perfectly Located.
NOW SELLING FROM THE $250 s
JUST OFF WHYTE.
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? 2 bdrm, 2 bath condos from the $200’s!
THIS WON’T LAST!
ELEMENTS AT Willowhaven
SALES HOURS
FROM THE $170’s
Mon to Thurs 3PM - 8PM Sat, Sun, holidays 12PM - 5PM Closed on Fridays
5521 7 Ave SW 587.521.1444
ELEMENTS AT HERMITAGE NE
FROM THE $200’s
1196 Hyndman Road 780.473.9143
SALES HOURS Mon to Thurs 3PM - 8PM Sat, Sun, holidays 12PM - 5PM *select suites Closed on Fridays
elementsbycarrington.ca
RN
W
RMERE
RD ILL EGA TER W
SE NE
SW SE
1196 Hyndman Road 780.473.9143
WIND
ERME
R AY D
FROM THE $200’s
340 Windermere Road 780.469.6976
D HEN
ELEMENTS AT HERMITAGE
FROM THE $160’s
ONY
587.521.1444
ELeMENTS at WINDERMERE
H ANT
ELEMENTS AT Willowhaven
FROM THE $170’s BY WITH 3 CITYWIDE LOCATIONS, ELEMENTS 5521 7FOR Ave SW CARRINGTON HAS SOMETHING EVERYONE!
RD
FROM THE
340 Windermere Road 780.469.6976
WINDE
SW
Condos from the $160’s at one of our ELeMENTS at WINDERMERE locations $160’s below
RE BL VD
340 Windermere Road 780-469-6976
NATURALLY INSPIRED LIVING
With suites ranging from Jade offers purchasers a open concept floor plans den suites are the most s
Conveniently located in the blooming west end community of Rosenthal, Jade offers expansive greenspace, gorgeous lake views, and close proximity to parks & recreation, making it a perfect fit for outdoor enthusiasts! The beautiful views from some of the suites make the area a pleasure to experience from indoors as well as out. 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
The building offers a soc fully equipped fitness ce with most suites, and gu and natural amenities av with naturally inspired li
The presentation centre 12–5pm Saturday, Sun For more information today for the best selecti
EXCELLENCE IN HOUSING AWARD WINNE
2014 CHBA-Edmonton Multi-Fam
m one bedroom up to two bedrooms plus den, a wide range of options. One bedrooms with s start at 644 square feet and two bedroom plus spacious at 1,144 square feet.
above when carefully selecting the finishes— finishes come standard inside all of Jade’s suites. t ceramic subway backsplash, along with the e kitchen and living room, create a fresh and so included are wood cabinets in designer ainless steel kitchen appliance package, as well nd dryer.
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.
R
mily Builder of the Year
ESCAPE TO
Grand
Two New Showsuites Now Open!
Opening
Immediate possessions available! Call Kathy to learn more about Southwest Edmonton's newest elite residence!
111 ST
ANTHONY HENDAY
Join us for the unveiling of two fabulous showsuites and enjoy food, drink and entertainment. Paradise awaits at E'Scapes!
RUGBY PARK
DR
GATEWAY BLVD
February 28, 2015 12:00PM - 5:00PM 11080 Ellerslie Road
CALGARY TR
Event!
SOUTHWEST Call Kathy at 780.756.2230 11080 Ellerslie Road Sales Hours Mon to Thurs: 3pm – 8pm Sat, Sun & Holidays: 12pm – 5pm Closed on Fridays
ELLERSLIE RD
507 Albany Way | 587.520.3372
10604 - 116 Street NW | 780.705.1350
• BUILDING 2 NOW SELLING
• Flexible floorplans take open-concept living to the next level
• Exceptional landscaping with easy walkability to neighborhood amenities, parks and ponds
• Convenient downtown location, just minutes from the river valley, recreation, shopping, LRT, Grant MacEwan and NAIT
N or
EXCELLENCE in HOUSING
th W es
2014 Awards of
l ra nt
• STARTING FROM $189,900
Ce
• Convenient access to St Albert and the Henday
t
• Stainless steel appliances and full-height backsplash
• Ultra-modern studio, one and two bedroom suites • Ample amenities to extend your living space • STARTING FROM $165,900
About E'scapes •
Cast-in-place concrete construction
• Engineered hardwood floors, stainless steel appliances and overheight ceilings • Personalize your space with a complimentary interior design consultation • Convenient location close to shopping, dining and entertainment with quick access to the international airport and Nisku industrial park • CONDOS FROM $246,330 2014 Awards of
EXCELLENCE in HOUSING Supported by
2014 CHBA-Edmonton Multi-Family Builder of the Year
508 Griesbach Parade NW | 780.760.2002
4042 MacTaggart Drive NW | 780.756.2230
• Located in North West Edmonton’s most desirable new neighbourhood, Village At Griesbach, which features four lakes, a 24 acre central park, a childrens playground and much more
• CONSTRUCTION NOW UNDERWAY
W es t th N
or
• STARTING FROM $201,900
t es hW ut
• 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
Nef
• Secure, heated underground parking with storage
West
ta
li / S
m
k.co
stoc
ter hut
• 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