MAY 19 - JUNE 16, 2017 VOLUME 25, ISSUE 5, FREE
EDMONTON EDITION
THE TALLEST TOWER IN THE SOUTHWEST A STANDOUT BUILDING REACHING 16 STORIES! 2 BED / 2 BATH
FROM
$330k
EXPECTED END OF
2018 FINAL
on the 12th floor
44
SUITES LEFT
780-803-0888 www.sigtower.com INSIDE
INSIDE THIS ISSUE INSIDE 2 THIS ISSUE THIS ISSUE
MAINTENANCE FEES,MARK YOURHOLIDAY GUIDE: INSPIRATION: THE VIEW: WHAT ARE CALENDAR: HOW PARTY AND THAT THE BAR IS ALWAYS HIT SHIFT F7 ANDA DISTRIBUTE DECORATING YOU LOOKING T? TO PREP FOR MOVING DAY LIKE A PINEAPPLE!
ALBERTA REBOUND: WHY 2017 NOTEBE THAT THIS CALLOUT A TRUE BARGAIN MIGHT THE YEAR TO BUYIS ALWAYS YPNH GREY IN COLOUR
WHITE ON BOTTOM OF PAGE
SPACING AT 0.2074 INCHES
GRAND OPENING M AY 2 7 TH & 2 8 TH I N S P R U C E G R O V E
A GEN U I N E SENSE OF COM MUN I T Y Join us May 27th & 28th for our Grand Opening in Spruce Grove from 1pm to 5pm. We will be celebrating with beverages and snacks. Visit Christenson’s Info Centre for information about Phase 2 and the Marcson Homes showhome for information about Phase 1. Phase 1 & 2 of Heritage Creek is a Active Adult gated community ideal for snowbirds, empty nesters and retirees. It is located just minutes from modern conveniences such as shopping & restaurants, walking trails and our prized private amenity building. Showhome and Info Centre are located at 50 Heatherglen Drive, Spruce Grove and the hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM. Participating Home Builders: ENTER TO WIN
A Free Ap ple iPad Air
EN T ER TO W IN A N A PPLE IPA D A IR
Ask About Our Upcoming Phase 3 and Phase 4
HeritageCreek.ca
Karen Glanville kareng@cdlhomes.com (780) 297-9707 Krista Galenzoski kgalenzoski@marcsonhomes.com 780-571-1704
MORE TIME MORE CHOICE
MORE FREEDOM The Name In Active Adult Living With 45 years of experience creating award winning multi-family urban villages for adults and seniors, Christenson Group of Companies has been providing Edmonton and surrounding area with more than just a home.
KS UISC Q SION OSSE IN
P
W SHO ES M N HO OPE OW
E MOVDAY TO
ETON PARK ESTATES 5001 Eton Boulevard, Sherwood Park 780.410.0004 • EtonPark.ca • Granite Counter-Tops • Air Conditioning • 9’ Ceilings • Fitness Room • Social Room • Many Occupancy Options Available
K PARWS E I VAVAILABLE
TWO
N
VILLAS AT LACOMBE PARK 31 Legacy Terrace, St. Albert 780.903.2465 • LacombePark.ca • Spacious Open Floor Plans • Vaulted Ceilings • Finished Basements • Granite Countertops • Custom Cabinetry • Hardwood & Ceramic Flooring
RIVERS EDGE VILLAS 3090 Cameron Heights Way, Edmonton 780.554.8342 • TheRiversEdge.ca • Exclusive Location • Finished Basements • 6 Appliances • Spacious Floorplans • Hardwood & Ceramic Floors • Vaulted Ceilings
Showhome Hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM.
CDLhomes.com
Building Luxury Lifestyle Communities in the Edmonton area since 1980. abbeylanehomes.com
Suite 200, 10568 109 Street NW Edmonton AB T5H 3B2 780.425.2884
AbbeyLaneHomes
@AbbeyLaneHomes1
info@abbeylanehomes.com
P: 587-524-0259 E: kaylie@melnychukgroup.com
P: 780-930-1518 E: bgayle5@aim.com
5
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!
“More fun than I’ve had in years!”
An active community that lets you live life your way. Live independently or get support tailored to your needs, and have the freedom to focus on the best things in life! Village at Westmount in Edmonton Ph: (780) 452-2030
Learn more at cdlhomes.com
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 7
8 YPNEXTHOME.CA
Web Directory BUILDERS/DEVELOPERS Abbey Lane Homes Addison Condos Californian Parkland
BUILDERS/DEVELOPERS www.abbeylanehomes.com www.theaddisonoffwhyte.com www.vipliving.ca
Carrington Communities
www.carrington.ca
Cascade Luxury Condos
www.cascadecondos.ca
Centurion Townhomes Christenson Developments Ltd. Coventry Homes Daytona Homes Master Builder Encore Tower Footprint Developments Fox Two Grovenor Manor
www.centuriontownhomes.com www.cdlhomes.com www.coventry-homes.com
www.grovenormanor.com
Homes by Avi
www.homesbyavi.com
Park Homes
www.landmarkgroup.ca www.langbuilthomes.com www.parkhomes.ca
www.secordchalet.com www.secordcorners.ca
Secord Corners
www.solaraliving.ca
Solara at Skyview
www.staffordgreens.com
Stafford Greens
www.symphonytower.ca
Symphony Tower
www.edmontoncondo.com
Tessco Incorporated
The Vermillion
www.foxtowers.ca
www.rohitcommunities.com
Secord Chalet
www.encoretower.com www.footprintdevelopments.ca
www.parkwoodmasterbuilder.com
Rohit Communities
The Leger
www.grandedesign.ca
Lang Built Homes
Parkwood Master Builder
www.daytonahomes.ca
Grande Design Homes
Landmark Group
Find your next condo online, it’s easy!
www.brass3.com www.vermillioncondos.com www.rushesofsouthfork.ca
The Rushes of Southfork
www.signatureambleside.com
The Signature
www.ultimatower.ca
Ultima
RELATED BUSINESS Canadian Home Builders’ Association – Alberta
www.chbaalberta.ca
Canadian Home Builders’ Association – Edmonton
www.chbaedmonton.ca
Dangie K-9 Service Inc. Your Condominium Security Specialists
››
www.dangiek9services.com
If you wish to advertise your Web site in our Web Directory please call 587-784-4044
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 9
start your search here. Whether you’re renting or buying, finding your next home has never been so easy.
Everything including the kitchen sink.
Coventry gives you even more reasons to love townhome living:
Double Detached Garage • 6 Appliances • Landscaping • Basement Rough-In all with the freedom of no condo fees, ever!
Now building in Griesbach Move-in-ready townhomes available in Laurel Crossing
with a new school and community lake, right in your backyard.
Visit our showhomes or
coventry-homes.com/Townhomes for more details.
contents MAY 19 – JUNE 16, 2017 | VOLUME 25 ISSUE 5
56 + online NEIGHBOURHOOD
HOME SEARCH
MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING
WITH
DYNAMIC MAPS
LOOK FOR THE CIRCLE
in every issue
trending
9
Web directory
24 Housing market
14
Editor’s note
29
What’s online
46 Neighbourhood profile
Spring buying and selling season is “off to a solid start”
50 Housing trends
“Problematic” conditions, despite improvement in some housing markets: CMHC
56 Homebuyers’ help
Alberta rebound: Why 2017 might the year to buy by Gene Kosowan
12 YPNEXTHOME.CA
MAY 19 - JUNE 16, 2017 VOLUME 25, ISSUE 5, FREE
ON THE COVER
EDMONTON EDITION
THE TALLEST TOWER IN THE SOUTHWEST A STANDOUT BUILDING REACHING 16 STORIES! 2 BED / 2 BATH
$330k
FROM
EXPECTED END OF
2018 FINAL
on the 12th floor
44
SUITES LEFT
20
Taking suburban living to new heights
VICE PRESIDENT & CHIEF PUBLISHING OFFICER
Caroline Andrews PUBLISHER & GENERAL MANAGER
Shawn Woodford DIRECTOR OF SALES
Moe Lalani DIRECTOR OF CONTENT
Jennifer Reynolds SENIOR EDITOR
Lydia McNutt ART DIRECTOR
Megan Pike
780-803-0888 www.sigtower.com INSIDE
INSIDE THIS ISSUE INSIDE 2 THIS ISSUE THIS ISSUE
CONTRIBUTING EDITORS
MAINTENANCE FEES,MARK YOURHOLIDAY GUIDE: INSPIRATION: THE VIEW: WHAT ARE CALENDAR: HOW PARTY AND THAT THEDAY BAR IS ALWAYS HIT LOOKING SHIFT F7 ANDA DISTRIBUTE DECORATING YOU T? TO PREP FOR MOVING LIKE A PINEAPPLE!
ALBERTA REBOUND: WHY 2017 NOTEBE THAT THIS CALLOUT A TRUE BARGAIN MIGHT THE YEAR TO BUYIS ALWAYS YPNH GREY IN COLOUR
WHITE ON BOTTOM OF PAGE
59 Top list
district maps
10 things to do in Edmonton on a budget
15 Edmonton
by Gene Kosowan
19 Southwest
advice
23 Southeast
30 Mortgage mogul
25 Leduc
Banks come under fire by Jason Eldridge
38
News & views
Can’t afford to buy that home? Your options are... by Lydia McNutt
44 Fundamentally speaking It’s a different kind of spring by Wayne Karl
52 Make your move
Prepare for moving day by Chuck Resnick
inspiration
49 Style file
Blonde ambition by Elisa Krovblit
54 Entertaining essentials Party like a pineapple by Elisa Krovblit
Sonia Bell Wayne Karl Elisa Krovblit
SPACING AT 0.2074 INCHES
SALES REPRESENTATIVES
Shelby Biggs 587.357.7402 Natalie Houghton 587.226.1313
SENIOR MANAGER, DISTRIBUTION
Dwayne Rutherford
27 Sherwood Park
NATIONAL CIRCULATION MANAGER
John Jenkins
31 North East 33 Fort Saskatchewan
PRODUCTION MANAGER
35 St. Albert
PRODUCTION CO-ORDINATOR
39 North West
GRAPHIC DESIGNERS
Anthony Majetic Hannah Yarkony Miguel Cea Mike Terentiev
41 Downtown 45 South Central 47 West
PO Box 458. Station Main Edmonton, AB T5J 2K ypnexthome.ca
51 Spruce Grove
54
ADVERTISING
Call 587.784.4044 for advertising rates and information. CIRCULATION
Highly targeted, free distribution system aimed at real estate buyers using street-level boxes and racking, plus door-to-door insertions in key audience segments. Call 1.855.826.4200 to discuss distribution opportunities. COPYRIGHT 2017
All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law. TERMS
Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL
Submissions from interested parties will be considered. Email submissions to the attention of the editor at lydia.mcnutt@ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication. MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 13
Editor’s Note
Timing is everything NOW COULD BE THE RIGHT TIME to get in on the housing
LYDIA MCNUTT Senior Editor Yellow Pages NextHome Email: Lydia.McNutt@YPNextHome.ca Twitter: @LydiasTweets
market in Edmonton. Following a prolonged period of falling prices and economic doom and gloom, Alberta could be at a turning point, with brighter days on the horizon. According to the latest report from the Realtors Association of Edmonton, home sales and prices have perked up this spring. If you’re on the fence about home ownership, here are three things you should know. First of all, there’s nothing quite like pride of ownership – stepping through your front door; relaxing in your living room; decorating and updating your space as you please. Enough said. Second, you have to live somewhere. If you’ve done the math and have determined that the down payment and mortgage requirements fit within your budget, why would you fatten a landlord’s pockets when you can invest in your own financial security? Finally, no one has a crystal ball and the future is uncertain. With that said, the general rule of thumb for smart investments is to buy low and sell high. Whether you’re looking for a home to live in, or for investment purposes, this could be a great opportunity to get in on the action, while prices are still affordable and pickings are plentiful. Do your research, find a home that meets your lifestyle needs and budget, and dive in. Don’t get bogged down by over-analysis paralysis. Buy when you’re ready for the market, not when the market is ready for you.
HOW TO SPOT A GOOD (AND BAD) HOME BUILDER
READ IT ONLINE
The popularity of condominium living has given rise to a new breed of home builders, and they’re all vying for your attention. But how do you know which one has what you’re looking for? There are seven key questions you’ll want to ask before you sign on the dotted line. Read the full story online! nexthome.yp.ca/choosing-a-builder
+ get social 14 YPNEXTHOME.CA
Interact with us on social media: ypnexthome
RAY GIBBON DR.
MA RK
ME SS IER
TR AIL
T ER LB
MERIDIAN STREET (0 St.)
A ST.
137 Ave.
AIL TR
DR.
Lessard Road DR.
QE II
James Mowatt Trail
127 St.
141 St.
170 St.
Cameron Heights Drive
*LEERQV
28A
Interchange
EDMONTON & REGION
&DOPDU
Check Each Area District Map For More Information
VIP REGISTRATION staffordgreens.com MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 15
a new way of living B r e a k away f r o m t h e m u n d a n e a n d d i s c o v e r
Life can become habitual. We drink the same coffee, drive the same roads, and prepare the same meals. Habits are powerful, and while the right
ones can lead to great achievement, the wrong ones will stifle success. Sometimes it takes more than willpower to set yourself free. Sometimes it takes a whole new environment. Allure offers just that: a new way of living. This is a building designed to encourage the spontaneity needed for a dinner party with friends, the motivation that drives your daily workout, and the space to relax and enjoy the moment. Allure is designed for you, the driven few who want the most out of life.
A New Way of Living Allure is southwest Edmonton’s newest, most exclusive, and innovative concept in architecture, design, and maintenance-free living. The building and the suites have been outfitted through careful attention to detail to ensure that your dream lifestyle soon becomes second nature. Allure offers unparalleled amenity spaces designed to maximize the convenience and luxury of condo living. The journey begins in the soaring two-storey lobby, and on each floor are unique spaces that ignite the imagination and inspire a new way of living. On the main floor, is the Silver Salon Dining Room. This stunning dining room provides an exquisite setting to host guests, and the fully-equipped chef’s kitchen means no one has to leave their guests’ side. Whether a caterer is behind the range or the host takes the opportunity to show their own artistry in the kitchen, this space brings friends and family closer together. The second floor holds all the swagger and style of a private Vegas room with its Members’ Lounge Game Room. Outfitted with a poker table, wet bar, and flat screen TVs, this space will be the envy of every lounge in the area. On the third floor, the Precision Athletics Club and Satya Studio provide a dedicated fitness space to train the body and mind for the all the challenges life brings. The state-of-the-art fitness equipment, flat screen TVs, and stunning design elements are enough to get the heart beating a little bit faster.
www.liveatallure.ca 16 YPNEXTHOME.CA
Then, continuing upward, is the Rooftop Vista Terrace. A truly inspiring setting, the Terrace provides stunning views of starlight and sunsets, or the perfect place to curl up with a latte on a relaxing Saturday morning. Underneath it all is a one-of-a-kind underground parking garage. Features include two levels, visitor parking on the first and resident parking through a second, vigilantly secured entrance. Allure luxury demands a special place for your treasured vehicles and offers private double, triple, and even quadruple garages. And after all the inspiration of the building, the suites do not disappoint. The culinary artist will have a place to thrive with gourmet chef-inspired kitchens. Equipped with a slide-in gas range, stainless steel hood fan, and paneled appliances that match the kitchen cabinetry, this is the pinnacle of modern kitchen design. The meticulous attention to detail is more than enough to inspire residents to expand their culinary repertoire. The attention to detail continues in to the spacious naturally-lit living areas, warmed in the winter by the crackle of an elegant linear fireplace, and cooled in the summer by suite-controlled central air conditioning. That is, of course, if the gentle breeze isn’t already wafting in from the spacious balcony. Spa-inspired en-suite bathrooms, soaring over-height ceilings, and luxurious finishes like granite, hardwood, and porcelain tile continue to delight throughout these beautiful homes.
An Inspired Community Nestled in the burgeoning area of Mactaggart Mains, Allure boasts one of the most exclusive addresses
in the most desirable new area of Edmonton. These homes are minutes away from a stunning nature preserve—one of Edmonton’s most wonderful hidden gems—and to fine dining, fabulous shopping, world class fitness centres. On the other side of Whitemud Creek residents are immersed in nature, a beautiful place to spend an hour strolling the trails or a day exploring the creeks and the indigenous flora and fauna. Allure’s central location provides balance for an ever-changing life. Sophistication and luxury are everywhere in this exquisite development, creating an artful community tailored to the most discerning individuals.
SHOWSUITES COMING SOON!
SOUTHWEST
Call Kathy at 780.756.2230 4042 MacTaggert Drive NW
SALES HOURS
By Appointment only
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 17
LOOKING FOR A NEW HOME? we can help!
Brand new name, same great app. Everything you need to know to buy or rent your next home.
DOWNLOAD THE APP
South West Edmonton
104 St. Calgary Trail North QE II
51 Ave.
119 St.
40 Ave.
SOUTH
WHITEMUD DR.
34 Ave.
Rabbit Hill Road
1
14 13
Ellerslie Road
17
21
26 23
25
127 St.
141 St.
16
22
7 4
Anthony Henday Dr. Ellerslie Rd.
3
30 Ave.
6
50 St.
8 10
23 Ave.
Blackburne Drive
91 St.
24
MacEw an Road
Parsons Rd.
2
9 Ave.
2
101 St.
15
19 Ave.
Saddleback Rd.
Dr.
James Mowatt Tr.
14
91 St.
23 Ave.
Ha dd ow
18 20 11
66 St.
Lansdowne Dr.
105 St.
9
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 THE QUAY AT TERWILLEGAR BY ABBEY LANE HOMES
7021 South Terwillegar Drive 3 VISTAS AT CALLAGHAN NORTH BY ROHIT COMMUNITIES
2632 Bowen Way SW 4 ATRIA BY PARK HOMES
2803 James Mowatt Trail 5 ALLURE BY CARRINGTON COMMUNITIES
4042 MacTaggart Dr
6 ALLARD TOWNHOMES BY ROHIT COMMUNITIES
675 Allard Blvd SW 7 CANVAS TOWNHOUSES BY BROOKFIELD RESIDENTIAL
4470 Prowse Rd SW 8 BRIGHTON 4835 Wright Dr SW 9 RIVERS EDGE BY CHRISTENSON GROUP
3090 Cameron Hieghts Way 10 ELEMENTS AT WINDERMERE BY CARRINGTON COMMUNITIES
340 Windermere Rd. 11 GROVE ON 25TH TOWNHOUSES IN THE ORCHARDS BY BROOKFIELD RESIDENTIAL
3305 Orchards Link SW
12 CREEKWOOD LANDING BY CARLISLE GROUP
11804 - 22 Ave SW 13 E’SCAPES BY CARRINGTON COMMUNITIES
11080 Ellerslie Road 14 CROSSROADS OF RUTHERFORD BY STREETSIDE DEVELOPMENTS
1816 & 1820 Rutherford Dr 15 THE SIGNATURE BY WESTRICH PACIFIC
5151 Windermere Boulevard 16 GLENRIDDING HEIGHTS TOWNHOMES BY ROHIT COMMUNITIES
2351 Glenridding Blvd SW
17 ALTIUS GRAYDON HILL BY STREETSIDE DEVELOPMENTS
1005 Graydon Hill 18 THE SANDS BY BROOKFIELD RESIDENTIAL
4050 Savaryn Dr 19 BEARSPAW CROSSING BY LANDMARK HOMES
1508 – 105 St. NW 20 THE VILLAGE AT SUMMERSIDE BY PELHAM
24 TRIUMPH AMBLESIDE BY STREETSIDE DEVELOPMENTS
1115 Armour Link SW 25 LINK CONDOS AT ELLERSLIE BY REGENCY DEVELOPMENTS
11189 Ellerslie Road 26 VISTA POINTE IN CHAPPELE GARDENS BY BROOKFIELD RESIDENTIAL
2905 141 St SW
4203 Savaryn Dr SW 21 LANGDALE TOWNHOMES BY ROHIT COMMUNITIES
704 176 Street SW 22 PIVOT RUTHERFORD BY AVERTON HOMES
Ellerslie Rd & 119 St 23 CREEKWOOD CHAPELLE BY AVERTON HOMES
28 Ave & 141 St
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 19 2 color CMYK: 2955PC + 550PC
REACH NEW SUBURBAN HEIGHTS AT SIGNATURE TOWER IN AMBLESIDE
I
t’s not every day that you come across a condo project in Edmonton that makes you stop and pause. But Westrich Pacific’s new project, Signature Tower, in southwest Edmonton’s Ambleside community does just that. The concrete structure, a contemporary 16-floor building—yes, 16 floors!— in the booming, suburban community of Ambleside is set to stand out from any other project in the area. In fact, once complete, Signature Tower will be the tallest building south of Anthony Henday. “We wanted to create something unique, and to allow more people the opportunity to live in the area, because the demand is high for such an
20 YPNEXTHOME.CA
incredible location,” says Emily Kwok from Westrich Pacific. “We’re so close to the Henday with easy access to the airport, this project is proving popular for young professionals or people downsizing, people who just want to lock up and leave,” explains Kwok. The remaining suites (they’ve sold up to the 11th floor) range from 821–1040 sq. ft, and all floorplans have two-bedrooms and two-bathrooms. All suites feature higher-end finishes including California knockdown ceilings, stainless steel gourmet appliances, quartz countertops, full-height glass tile backsplashes, porcelain tile floors and soft close cabinets. There’s secured underground
heated parking and gas lines for BBQ on all balconies. Lucky homeowners will also be able to take advantage of the building’s height and views, thanks to the floor-to-ceiling windows in select suites. Construction has started, and completion and move-in are set for the end of 2018. The remaining suites range from $330,000–$371,000. They’re selling fast, thanks to the building’s uniqueness and prime southwest location. Just steps from Signature Tower is the Currents of Windermere Shopping Centre. “This little city in the suburbs combines a diverse mixture of shopping locations from Cabela’s to Wine and Beyond. Multiple grocery stores, banks, and even medical centers offer everything for day to day living in one convenient location,” states the project website. “Connect quickly to the rest of the city with easy access to the Anthony Henday. West Edmonton Mall, South Edmonton Common, and Southgate Mall are accessible all within a 15-minute drive.” No matter your choice of leisure, there’s a little something for everyone within the community. Alberta’s only VIP theatre is just a short walk away, and winding walking paths connect Signature
Tower to a pond, a park, shops and other local amenities. There are also golf courses within a quick driving distance, as well as professional, leisure and entertainment amenities.
To learn more about the project, visit www.sigtower.com. You can also visit the sale centre — and to see its prime location for yourself—at 5151 Windermere Blvd (across from the Safeway in Ambleside), Monday to Thursday 12–6:30pm and Saturday 12–5pm. MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 21
Standing 16 stories high, the third and final tower at Signature Condominiums is taking suburban living to new heights in the much sought after neighbourhood of Windermere. Features Include: • Full concrete structure • GLASS WINDOW WALL IN MOST UNITS! • Contemporary flat paneled cabinets with soft close features • Hardwood embossed laminate • Porcelain tile flooring • Stainless steel appliances • Quartz countertops • Unbeatable location just minutes from shopping, restaurants, and the VIP theater!
2 BED / 2 BATH
FROM
$330k
EXPECTED END OF
on the 12th floor
5151 Windermere Blvd. SW 780.803.0888 sigtower@westrichpacific.com
Sales Centre: Mon -Thur 12-6:30pm Saturday 12-5pm (Enter Sales Centre through side entrance on Ambleside Drive)
sigtower.com
2018
FINAL
44
SUITES LEFT
South East Edmonton North Saskatchewan River
106 Ave.
101 Ave.
BASELINE RD.
98 Ave.
90 Ave.
ood Park Fwy. Sherw
17 St.
d. rR pe Ro
86 St.
63 Ave.
34 St.
. Rd yll Arg
50 St.
99 St.
76 Ave.
75 St.
83 St.
Whyte - 82 Ave.
Whitemud Fwy.
51 Ave.
38 Av e.
39 Ave.
8
43 Ave.
30 St.
4
5
Calgary Trail North QE II
91 St.
Millwoods Rd.
34 Ave.
1
2
23 Ave. Anthony Henday Dr. 216
91 St.
66 St.
1
9 10
50 St.
Parsons Rd.
3
101 St.
MAP LISTINGS
6
7
2
STONEHAVEN CONDOS
41 Ave.
5
9
SOUTHERN SPRINGS
BY ROHIT COMMUNITIES
BY PARK HOMES
812 Welsh Dr.
2845 - 43 Ave NW
655 Watt Blvd.
ARA
6
AURORA GREENS BY CARLISLE DEVELOPMENTS
7
#128 - 1510 Watt Drive
2215 – 24 St NW
ELEMENTS AT WILLOWHAVEN
10
THE VILLAGE AT WALKER LAKES BY LANDMARK HOMES 804 Walsh Drive SW.
BY CARRINGTON COMMUNITIES 5521- 7 Avenue SW
LAUREL LANDING BY LANDMARK HOMES
ALTIUS TAMARACK BY STREETSIDE DEVELOPMENTS 1530 Tamarack Blvd.
4008 Savaryn Dr. SW
4
LARKSPUR LANDING
BY LANDMARK HOMES
BY CARRINGTON COMMUNITIES
3
Ellerslie Rd.
8
ASPEN MEADOWS BY LANDMARK HOMES
43A Ave. & 23 St.
SEARCH ONLINE ypnexthome.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 23
Trending
Spring buying and selling season is “off to a solid start” HOME PRICES ARE UP in Edmonton, both on a month-over-month and year-over-year basis, according to the latest figures reported by the Realtors Association of Edmonton. The average Edmonton condo hit $257,740 in April 2017, up 6.23 per cent over March 2017 and a 2.32-percent increase compared to April 2016. Duplex and rowhouse prices rose to $357,815, 2.58 per cent higher than March 2017 and 4.97 per cent up over April 2016. Single-family home prices saw a slight increase, to $439,438. “Average monthly prices across all categories have increased,” says James Mabey, chair of the Realtors Association of Edmonton. “Despite slightly slower April sales, the spring buying season is off to a solid start.” April unit volumes for all categories 24 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
was similar to March 2017, and increased 0.27 per cent month-overmonth. While all residential unit sales were down 6.99 per cent yearover-year, total year-to-date sales increased 5.06 per cent compared to April 2016. Average days on market remained relatively stable in April. It took on average 48 days to sell a single-family home, down from 50 days on market in March 2017. Duplexes and rowhouses stayed on the market for an average 64 days before selling, up from 62 days on market in March 2017.
Condominiums took an average of 60 days to sell in April, versus 67 days in March 2017. New listings increased 2.73 per cent relative to March 2017, and decreased 2.65 per cent over April 2016. Inventory continued to increase and is up 11.84 per cent over March 2017, but dropped 3.76 per cent on a year-over-year basis. “Inventory levels and unit volumes continue to increase as the weather warms, which is typical for the market at this time of year,” says Mabey.
lvd .
Leduc
48 St.
50 Ave.
50 St.
Grant MacEwan Blvd.
High way 2
rt B Bridgepo
Telford Lake
Black Gold Dr. Black Gold Dr.
Dr. Park South
St. 50
1
Hig hw ay
Rollyview Rd. 2A
Dr. Southfork 2
Simpkins Wynd
MAP LISTINGS
1 WINDROSE BY LANDMARK COMMUNITIES
61 Windrose Drive 2 THE RUSHES OF SOUTHFORK BY HUNTER RESIDENTIAL DEVELOPMENTS
401 Southfork Drive
WELCOME TO LEDUC The City of Leduc, a thriving Industrial, Commercial & Agricultural Community continues to experience growth and expansion. A great place to call home! POPULATION 39,000 and growing “Small city” living within minutes of “Big city” amenities
SCHOOLS 7 Elementary, 2 Junior & 2 Senior High - Public, Private & Separate school systems
LOCATED 20 kilometers south of Edmonton on Hwy. 2
GROCERY Variety of shopping
RECREATIONAL FACILITIES Black Gold Recreation & Culture Centre, Performing Arts Centre, 18 hole Golf Course & Public Library
MEDICAL FACILITIES Full Service Community Hospital and Full Ambulance service PARKS & PATHWAYS 27 parks including Telford Lake, Fred John’s Park & Lions campground
For more information contact The City of Leduc (780) 980-7177
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Affordability
THE
ADVANTAGE!
by HUNTER RESIDENTIAL DEVELOPMENTS
2 bedroom, 2.5 bathroom townhomes with attached garage from $264,900!
To book a viewing of the new show suites please contact Kit at 587-896-6107 EMAIL kit@rushesofsouthfork.ca WEB www.rushesofsouthfork.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 25
Buy your dream home
& get thousands in
! K C A B H S A C *
Learn more today! 1-855-757-2275 | ComFree.com *How it works: ComFree Commonsense Network keeps an amount of $2,000 from the commission it receives from the seller’s brokerage and splits the remaining balance equally with the buyer. No cash back if the commission received is lower than $2,000 or if it’s a ComFree seller. Available in serve regions only.
26 YPNEXTHOME.CA
Sherwood Park 16 Emerald Dr
Co mm o
n Dr S
Cra n Wa ford y
Sherwood Dr
Broadmoor Blvd
Summerwood Dr
Da vi Dr dso n
n Dr N mo om
Davenport Dr
Cranberry Dr Dr Crimson
Jim
l Dr Bethe
Broadw ay Bvld
21
Primrose Bvld Meadowview Dr
Baseline Rd
Granada Blvd
Dr Brentwood Blvd
d Sherwoo
y Wa
Jim C
ron ma Bison Way Cim
Cr an Dr ford
Shivam Rd
Broadview Rd
Dr
Summerland Dr Summerwood Blvd
rkdale Dr Cla
216
Lak ela nd
Bethel Way
Pretroleum Way
1 2 5
Asp e Trail n
Campbell Dr
Buckingham Dr
Streambank Ave
Clover Bar Rd
y Way Amberle
Da w Dr son
Premier Way
Strathmoor Dr
Strathmoor Way
y on Eb lvd B
Strathmoor Way
3 4
Eton Blvd
Pembina Rd Strathmoor Dr
Wye Rd.
MAP LISTINGS
1 SUMMERWOOD DUPLEXES
4 REFLECTIONS
BY ROHIT COMMUNITIES
BY CHRISTENSON GROUP
100 Axbridge Gate
111 Festival Way. Sales centre 5001 Eton Blvd.
2 ASPEN PARK BY ABBEY LANE HOMES
Axbridge Gate off of Lakeland Dr. 3 ETON PARK ESTATES
5 ASPEN TRAILS DUPLEXES BY ROHIT COMMUNITIES
100 Axbridge Gate
BY CHRISTENSON GROUP
5001 Eton Blvd.
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 27
iL fe ode
“I’m surrounded by people who care for me. That gives my family peace of mind.”
à la
M
An active community that lets you live life your way. Live independently or with additional supportive services in a bustling urban village at the Centre in the Park.
Reeling in the catch of the day at the lake. Cooling off at the spray park. Bedford Village atdiamond. CentreLive inathe Park, Sherwood Gathering friends at the ball life that’s always in fashion. Live Ruisseau in Beaumont.
Park Ph: (780) 233- 6077
Featuring Homes by Look Master Builder | UrbanAge Homes Coming Soon
Learn more at cdlhomes.com
Visit our showhome today. Move in tomorrow. | ruisseau-beauMont.coM
H
©
28 YPNEXTHOME.CA
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 29
Advice | MORTGAGE MOGUL
Banks come under fire By Jason Eldridge
FOR YEARS, THE BANKS have always been the institution that consumers have gone to for financial products and services. It used to be, back in the day, that everyone from the tellers to the loans officer and even the branch manager knew many of their customers by name. Those days may be behind us for the foreseeable future. Banks are feeling intense pressure from investors and stock holders to continue increasing the bottom line, but at what cost? As a mortgage broker, I feel it is important to bring attention to what I do for my clients, and dispel any possible negative thoughts, misconceptions or assumptions about the sales process in the mortgage industry. Starting in April, Canada’s financial consumer watchdog began implementing a review of banks’ business practices. According to a report by CBC, employees from five of Canada’s biggest banks have allegedly felt pressured to up-sell, trick and even lie to customers to meet sales targets. They go on to admit to signing up existing and new clients for products and services without their knowledge or consent. Perhaps this may be part of the reason why it appears that there is so much staff turnover within the banks these days. As a mortgage professional in good standing with the Real Estate Council of Alberta), the Alberta Mortgage Brokers Association and Mortgage Professionals Canada, I am mandated to present my clients and have them authorize a consent form that outlines what my role and responsibilities are, how I am compensated, as well as privacy and disclosure practices. 30 YPNEXTHOME.CA
As a dedicated mortgage specialist with a financial planning designation, my mission statement is simple: to find my clients the mortgage financing option that best suites them and their situation, and doing so in a clear, convenient and professional manner. While my clients always have the choice of which chartered bank or financial institution they want me to work with on their behalf, more often than not, they choose a “mono-line” lender for various reasons. For those not familiar with this term, a monoline lender only offers one financial product – mortgages. Needless to say, you don’t have to worry about tied selling, cross selling or assumptive marketing practices, as these companies don’t have any other products or services to offer. With that said, there are situations where the big banks have mortgage products that may be better suited to a specific client and situation. If my clients determine that the bigger banks are offering a product they
MORE ADVICE ONLINE ypnexthome.ca/news/advice
prefer, I am happy to finalize the mortgage itself, and then refer the file to the branch. Prior to handing off the mortgage file to the branch, I make my clients aware that the branch may contact them to offer additional products or services in the future. As a mortgage broker, it is my fiduciary duty to offer each and every client the opportunity to protect their mortgage with either life, disability, job loss, and/or accidental life insurance, but as a client, you are not mandated to take any of this coverage. Jason Eldridge, P.F.P, B. is a mortgage specialist with Axiom Mortgage Solutions. Contact him by calling 403.630.1718, email jason@axiommortgage.ca and visit online at jason.axiommortgage.ca
North East Edmonton 8 M Fo ANNIN GF rt WY. Rd . 34 St.
3 ve. A 7 3 1
Rd .
137 Ave.
Fo rt
132 Ave.
95 St.
121 Ave.
. Ave d. 112 Blv a Ad
CAPILANO BRIDGE
MAP LISTINGS
1 TOPAZ BY PARK HOMES
70-8318 180 Ave. 2 ELEMENTS MANNING BY CARRINGTON COMMUNITIES
142 Ebbers Blvd. NW 3 SAVIDA BY LANDMARK HOMES
3650 - 139 Avenue NW 4 NORTHSHORE
BY CARRINGTON COMMUNITIES
5510 Schonsee Dr.
38 St.
120 Ave. 118 Ave.
58 St.
122 Ave.
Hooke Rd. Hermita ge Rd. YEL LOW HEA DT RAI L 34 St.
129 Ave.
127 Ave.
20 St.
2
Victoria Tr.
50 St.
66 St.
87 St.
144 Av e.
151 Ave.
. Ave 144
22 St.
9
1675Ave.
7
82 St.
97 St.
. 160 Ave . e v A 153
195 Ave.
4
91 St. 1
104 Ave. North Saskatchewan River
5 ELEMENTS AT MCCONACHIE BY CARLISLE GROUP
167 Ave. & 53 Street 6 KERNOHAN RAVINES BY LANDMARK HOMES
9 CY BECKER DUPLEXES BY ROHIT COMMUNITIES
118 Cy Becker Blvd. 10 KIRKNESS BY LANDMARK HOMES
415 Clareview Rd.
415 Clareview Rd. 7 ALTIUS CRYSTALLINA BY STREETSIDE DEVELOPMENTS
17832 78 St. 8 ALTIUS CY BECKER BY STREETSIDE DEVELOPMENTS
165 Cy Becker Blvd.
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 31
Canadian
PROPERTY INVESTOR
Vancouver | Toronto | Ottawa | Calgary | Edmonton
ON STANDS NOW!
Find your next investment with exclusive real estate opportunities, insider insights and expert tips designed for the savvy investor PICK UP A COPY TODAY OR READ ONLINE AT
canadianpropertyinvestor.com
Read the digital issue on
Available at these locations: • YP NextHome street boxes
• Airport lounges • Transportation hubs
• Newspaper insertions
• Selected retail racks
• Select hotels
• Direct mail
Fort Saskatchewan 37
ive r
St
99 Av e
89 94 Av e
21 for uth So
88 Av e
e Av 86
Range Rd 224
98 Av e
1
St 94 r tD
94 Ave
St 82
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116 St
St
92
We stp a Blvd rk
Township Rd 543
MAP LISTINGS
e Av 92
87 Ave
Dr rk pa
Wo
86 St
15
98 Ave
93
Ave 95a
83 Ave
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Ave 96
84 Ave
113 St
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St 101
99
e Av
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Township Rd 544
Sou thfo Blv rt d
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1 CLIO BY PARK HOMES
#94th St Southfort Drive
WELCOME TO FORT SASKATCHEWAN A quiet, friendly, family oriented community. “Move in Next Door... Neighborly Fort Saskatchewan”.
POPULATION Over 24,000 LOCATED Adjacent to the northeast boundary of the provincial capital, the City of Edmonton & 30 km from downtown Edmonton SCHOOLS 6 Public Schools, 3 Separate Schools, 1 Christian School
GROCERY Co-op, Safeway, No Frills, Wal-Mart Supercentre, M&M Market, Giant Tiger 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 (780) 992-6200 or visit our website at www.fortsask.ca or e-mail: info@fortsask.ca
SEARCH ONLINE ypnexthome.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 33
New 2017 Coming soonAnnual On Stands Now! Watch it! Outfor Now! October 2012
20 17
Exploring Edmonton’s top builders and developers – one community at a time
St. Albert ros e Dr.
Keil lor Dr.
Sturg eon Rd .
e. Poirier Av
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167 Ave.
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156 St.
St. Al be r
Boudreau Rd. Campbell Rd.
Dr. ins k t A Rd .
170 St. Gerva is
1 CITADEL VILLAGE
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THE TERRACES
BY CHRISTENSON GROUP
BY CHRISTENSON GROUP
St. Albert Trail & Ridge Drive
88 Lacombe Drive
2 BOTANICA BY BOUDREAU DEVELOPMENTS LTD.
105 Bellerose Drive 3
ud re au
. ve lA l i h urc Ch
Av e. 184 St.
Levasseur Rd.
MAP LISTINGS
Bo
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Ga te
n eo rg Stu
5 inston W
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Ro ad He be rt
ve. yA enn K c M
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Element Dr. Erin Rid ge Dr.
TO MORINVILLE
5
GRANDIN PARC VILLAGE BY AMACON
104-5 St. Louis Street (Off Grandin Road)
THE LINX BY CHRISTENSON GROUP
88 Lacombe Drive
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 35
36 YPNEXTHOME.CA
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EXPERIENCE THE RELAXED, easy-going, luxury retirement lifestyle you’ve always dreamed of at the Villas at Lacombe Park. Situated near the coveted Big Lake district of St Albert, the Villas at Lacombe Park showcase stunning duplex bungalows designed specifically for convenience and stress-free living—all in a spectacular location. “Residents are just minutes away from shopping recreation and natural amenities,” boasts Sandy Wagar, Christenson Group of Companies’ community sales consultant. The Villas at Lacombe Park offer easy access to St. Albert Trail and the Anthony Henday. There are abundant shopping, lifestyle and professional amenities nearby. And for all nature-loving residents, there’s a plethora of natural pathways right in the community, and recreation amenities including ponds and a dog park within a short drive from home. Each home in the Villas is designed for style and convenience, and include features like spacious open floor plans, vaulted ceilings, custom cabinetry, window coverings, granite countertops and hardwood floors. Homes also include attached garages, making these homes accessible and perfect for anyone downsizing. All Villa homes have finished basements with extra large bedrooms and windows, a full bathroom and ample storage, making the additional basement living space excellent for guests. There are two different areas of the Villas at Lacombe Park: the
P
OF
P
A
CH GRO
The Villas at Lacombe Park
S T E NS ON
Christenson Developments presents:
RI
COM
Lynx (Phase 2) and the Terrace (Phase 3). Both areas offer homeowners the same great homes and amenities plus the freedom of no yard work or shoveling, but the communities are set up a bit differently: The Lynx has a condo board while the Terrace has a home owners’ association. There are two main floorplans available at the Villas, and each of the Lynx and Terrace showcase slight variations of each plan—there are options galore! For instance, in the Terrace, you’ll find the Awards of Excellence-nominated bungalow, the Sequoia. The Sequoia is 2,313 sq. ft (1,386 sq. ft on the main floor and 927 sq. ft of finished space downstairs) and starts at $609,900. At The Lynx, there are
Each home in the Villas is designed for style and convenience, and include features like spacious open floor plans, vaulted ceilings, custom cabinetry, window coverings, granite countertops and hardwood floors.
larger and smaller versions of the Sequoia available. There’s a slightly smaller version of the Sequoia available in the Terrace called the Linden—with 1,183 sq. ft on the main floor and 795 sq. ft of finished space downstairs (totaling 1,978 sq. ft) and starts at $499,900. In the Lynx, there are two walkout lots available on the water starting at $589,900, as well as quick possessions available starting
from $489,900. (At the Villas, there are both quick possession homes and quicker possession homes available. The former are ready for move-in right now, while the latter are framed but not finished, so homeowners can still make adjustments to the plans.) The area in Lacombe Park is stunning with many options, styles andpossession dates available that can meet the needs of anyone planning for retirement. Wagar: “This project is the best of both worlds – the security of owning a home with the freedom of apartment living. And it doesn’t get better than this!” Of course, you can see that for yourself when you visit the community’s show suite at 31 Legacy Terrace, St. Albert, Monday to Thursday from 1–6pm, and weekends from 1–5pm. For more information or to learn more about the Villas at Lacombe Park, visit LacombePark.ca or call Sandy at 780-903-2465. MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 37
Advice | NEWS & VIEWS
Can’t afford to buy that home? Your options are... By Lydia McNutt
MORE ADVICE ONLINE ypnexthome.ca/news/advice
CANADA’S MAJOR HOUSING MARKETS are each telling a different
tale. In Alberta, a boost in home prices is the talk of the town, hinting at a housing market recovery after a prolonged period of depression. At the other end of the spectrum, rising prices and unaffordability continue to make headlines in BC and Ontario. At a national level, Canada Mortgage and Housing Corp. waved a red flag in its latest Housing Market Assessment, warning of “strong evidence of problematic conditions,” due to overvaluation and overbuilding. (Flip to page 50 to read the full story.) There’s no shortage of tips out there on how to achieve home ownership in the face of tough financial times. Hopeful homebuyers are inundated with a steady stream of advice on how to save more and spend less, complete with suggestions of different housing types at lower price points, and “coming soon” communities in the nether regions that might be within your price range. These are all potentially good and feasible options to maximize your available funds. The term “priced out” has become commonplace in housing markets like Vancouver and Toronto, for their unaffordability, and even in the Prairies where economic and employment conditions have seen better days. 38 YPNEXTHOME.CA
“The biggest threat to our strong real estate market, and local economy, is a generation of buyers who, in pursuit of the housing dream, throw caution to the wind, assume a crippling mortgage, and take on more debt than they can handle.” Regardless of the regional housing market or economic conditions, if you personally can’t comfortably afford to buy that home, your options should be clear. “Don’t do it,” says Brian Brown, vice-president of Lifetime Developments. He admits, it’s unexpected advice – particularly coming from a real estate developer. Brown’s rationale behind his words is pretty simple: “It’s the advice I give my kids when they want to buy a toy they can’t afford.” Now, let’s be careful not to take Brown’s unhesitating words out of context. Real estate has historically been a good investment and, barring any major catastrophe, will probably continue to be one in the long-term – if you can get your foot in the door. This is a critical time for prospective homebuyers in Edmonton to crunch
the numbers, with prices starting to trend upward as per the latest sales stats reported by the Realtors Association of Edmonton. (Read more on page 24.) In the meantime, Brown offers these words of wisdom: “Be disciplined. Be prudent. Be responsible...The biggest threat to our strong real estate market, and local economy, is a generation of buyers who, in pursuit of the housing dream, throw caution to the wind, assume a crippling mortgage, and take on more debt than they can handle.” Lydia McNutt is an award-winning writer and senior editor of New Condo Guide. Lydia’s love of architecture, interior design and the written word have landed her happily at YP NextHome, where real estate rules. Lydia can be reached at Lydia.McNutt@ypnexthome.ca, and follow her on Twitter @LydiasTweets
North West Edmonton City Boundary 176 Ave. Castle Downs Rd. 167 Ave. 162 A ve
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7 132 Ave.
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142 St.
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2 1424Ave.
121 St. 113A St.
150 Ave.
97 St.
127 St.
153 Ave.
148 Ave.
Campbell Rd.
3
Stony Plain Rd.
MAP LISTINGS
1 COVENTRY HOMES Castle Downs Rd. & McCrae Ave.
6 VALOUR
2 SOLARA AT SKYVIEW
7 BELLWETHER PARK 132 Ave. & 132 St.
BY ABBEY LANE HOMES
12650 142 Avenue NW 3 AVIVA BY CARRINGTON COMMUNITIES
507 Albany Way 4 ALTIUS SKYVIEW BY STREETSIDE DEVELOPMENTS
12815 Cumberland Rd. 5 ALOFT SKYVIEW BY STREETSIDE DEVELOPMENTS
12804 - 140 Ave.
11 STARLING DUPLEXES
BY CARRINGTON COMMUNITIES
BY ROHIT COMMUNITIES
508 Griesbach Parade NW
2407 Sparrow Crescent
8 THE HARMONY BY P2000 DEVELOPMENTS
Sales Center 14904-125 St 9 STARLING LANDING
12 JUNO TOWNHOMES BY SLOKKER CANADA WEST
2570 Pegasus Blvd. 13 STARLING AT BIG LAKE BY ROHIT LAND DEVELOPMENT
137 Ave & Ray Gibbons Dr.
BY ROHIT COMMUNITIES
2405 Sparrow Common 10 URBAN CENTURY BY FOURCHA GROUP
14705-125 Street
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 39
The Harmony THE PERFECT BALANCE OF DESIGN, AFFORDABILITY AND LOCATION
M
ost people today are looking for some sort of balance in their lives. Whether that’s finding work/life balance or balancing time with family and time with friends, very few people have perfect harmony in their lives. So for those seeking balance between where they live and affordability need to look no further than P2000 Development’s new project, The Harmony in northwest Edmonton. Located in the newly established community of Baranow, The Harmony is perfectly located for anyone who likes having lifestyle and professional amenities within walking distance. There are four grocery stores nearby, along with a YMCA, rec centres, golf courses, Londonderry Mall, restaurants, cafes, pharmacies and more. It’s also close to Christy’s Corner and the shops at Skyview Power Centre. “We’ve been holding on to this land for five years now. It’s such a great location and we wanted to build something special here,” says David Phan of P2000 Developments. They build one project at a time, and wanted to make sure the time was right and community was established for their homebuyers. Phan: “Everything is already there, so it’s a very attractive location.” Of course, location is not the only thing Phan focusses on. “We also wanted to build something with a beautiful exterior,” David Phan explains. He continues: “Something that’s pleasing to the eye, first and foremost.” That includes The Harmony’s wrought iron fencing around the building and stone pillar accents. Gone are the typical vinyl or stucco exterior, and instead the building features hardie boards that are water and hail resistant. Phan also has a keen eye on green building practices, and is installing a metal roof on The Harmony—something typical for commercial not residential buildings. “Basically, you don’t need to replace the roof in the building’s lifespan, so we’re not using resources that need to be replaced in the future.” There are LED lights throughout to reduce energy consumption and R40 rooftop insulation that can reduce building energy costs by up to 40%. The Harmony has modern bachelor, one-bedroom, one bedroom + den and two-bedroom suites that range from 463 sq. ft to 915 sq. ft. (One unique feature of the bachelor condos are built-in, custom Murphy bed). All suites have quartz countertops in the kitchen and bathrooms, stainless appliances, and luxury vinyl board flooring throughout (with a lifetime warranty). The custom-made kitchen and bathroom cabinetry are two-toned and come with soft-closing hinges. French doors separate the suites from the balconies, and are designed to keep in the heat during the winter. Plus, all suites come with window coverings and in-suite washer and dryers. Suites range from $173,000 to $300,000, and preselling starts this October. Move in is expected to begin in mid-2018.
For more information about The Harmony, visit theharmony.ca or visit the sales trailer onsite at 14904 – 125 Street NW Edmonton
Downtown Edmonton 118 Ave. 112 Ave.
102 Ave.
10
8
7
Jasper Ave. 100 Ave.
106 St.
Victoria Park Rd. Rive r Va lley Rd
3 97 Ave.
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82 St.
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9 2 1 6 5
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104 Ave.
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124 St.
111 Ave.
101 St.
111 Ave.
LOW LEVEL BRIDGE JAMES McDONALD BRIDGE
DAWSON BRIDGE
Bellamy Hill HIGH LEVEL BRIDGE 105 ST BRIDGE
MAP LISTINGS
1 THE ULTIMA
North Saskatchewan River
6 ENCORE
BY WESTRICH PACIFIC
BY WESTRICH PACIFIC
10244 - 103rd Street
103 St. & 102 Ave.
2 THE FOX
7 JASPER HOUSE
BY LANGHAM DEVELOPMENTS
BY LAMB DEVELOPMENT CORP
104 Street & 102 Avenue
Jasper Ave. & 106 Street
3 SYMPHONY
8 GROVENOR MANOR
BY ROCKWOOD PROPERTY MANAGEMENT
9704 - 106 St.
BY PELHAM MASTER BUILDER
10126 – 144 Street 9 THE LEGENDS
4 THE VERMILLION
BY WAM
BY REDLEAF PROPERTIES
11 121 WEST CONDOS AT HIGHSTREET DISTRICT BY REGENCY DEVELOPMENTS
121 Street & 105 Avenue 12 WEST BLOCK BY BEAVERBROOK IN HOUSE DEV
Corner of 142 St & Stony Plain Road 13 PARK AVENUE BY WESTRICH PACIFIC
11303 105th Avenue
104 Ave. & 102 St.
10611 – 116 Street
10 PEARL
5 ICON
BY REGENCY DEVELOPMENTS
BY LANGHAM DEVELOPMENTS
Jasper Ave., North of 104 St.
Jasper Avenue & 119 Street.
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Building Dreams Come True for Over 40 Years
Carrington Communities
NO LIES!
Please see our ad between pages 18 and 19
Offering Real Value to Edmontonians
Carrington will pay for your mortgage until our next election! We’re good on our word. STRONG \\ SOLID \\ SECURE \\ CARRINGTON.CA
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 41
Own a luxurious condo on Edmonton’s most desirable downtown street Live in downtown Edmonton’s best location
Fox Two sits on the corner of 102 Avenue and the 104 Street Promenade. This eclectic street was once the heart of Edmonton’s warehouse district and is now a friendly urban neighbourhood populated with a unique mix of residential condos, independent shops and first-rate restaurants. A variety of entrepreneurial businesses and professional offices also call this street home—there is even a local Farmers’ Market held every Saturday throughout the summer months.
Invest in the future of Edmonton
Whether your focus is investment, education, entertainment or lifestyle, Fox Two is ideally situated to take advantage of the very best Edmonton has to offer. Many of Edmonton’s secondary education facilities are either within walking distance: Grant MacEwan University, the University of Alberta City Centre Campus, or a sevenminute LRT ride away: the University of Alberta Main Campus and NAIT.
Summer 2017 occupancy A short walk to the east you’ll find Edmonton’s bustling financial district, city centre shopping and YMCA fitness centre. Directly north is Rogers Place—Edmonton’s brand-new, state-of-the-art sports and entertainment venue—which includes the surrounding Ice District with five-star hotels, world-class dining and multi-plex cinema.
The ultimate urban lifestyle Edmonton transit is easily accessed from Fox Two, with several bus stops and two major LRT stations on 104 Street—offering fast
access to destinations like West Edmonton Mall, Southgate Mall and Commonwealth Stadium—even the international airport is easily reached via Edmonton’s transit system. Nature too is right outside your door with Edmonton’s unique river valley—the largest urban park in Canada—bordering the downtown core to the south. Enjoy over 18,000 hectares of hiking and biking paths meandering along the beautiful Saskatchewan River, try boating or fishing, even play a round of golf at Victoria Golf Course—all within minutes of Fox Two.
Unparalleled architectural excellence A project of superior design and quality, Fox Two is the taller of the Fox Towers project at 33 storeys and is your last opportunity to own a brand-new, upscale condo on Edmonton’s best downtown street. The building’s fluid articulation and elegant contours ensure its longevity and timeless beauty. A breathtaking glass curtain wall and large windows offer sweeping city views, while efficient, well-designed suites maximize living space and promise stylish functionality. • Summer 2017 occupancy • Spacious 2- and 3-bedroom units still available on various floors • Well-appointed units with superiorquality finishes including quartz countertops, high gloss cabinetry, top-grade flooring and stainless steel appliances all come standard • All remaining suites have air conditioning and at least one private balcony • At least 1 heated and secured parking stall included in purchase price • Three high-speed elevators
Another project by Langham Developments Ltd.
The fully occupied Fox One and nearly completed Fox Two.
Since 2001, Langham Developments has played the most significant role in rejuvenating Edmonton’s downtown core. Listed among Edmonton’s most experienced and reputable high-rise builders, Langham Developments has completed 4 outstanding downtown high rises to date: The Omega, Icon Tower I, Icon Tower II, and the first phase of the Fox Towers project: Fox One.
Visit our on-site Sales Centre located on 104 St. just north of 102 Ave.
www.foxtowers.ca | 780.425.0369
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 43
Advice | FUNDAMENTALLY SPEAKING
It’s a different kind of spring this year By Wayne Karl
MORE ADVICE ONLINE ypnexthome.ca/news/advice
SPRING HAS SPRUNG, and while it’s
normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada’s real estate markets are dealing with a myriad of issues. In Ontario, it’s an acute supply shortage, skyrocketing prices and a resulting affordability crisis. In BC, a compositional shift towards softer sales and slowing price growth. In Alberta, it’s all about recovery, as the province and housing sectors claw their way out of two or three years of economic quagmire. Other provinces are dealing with their own economic- and marketspecific challenges and opportunities. Against this backdrop, add the delicate and often confusing issue of policy. In Ontario, for example, the provincial government is facing hard lobbying from multiple sources – chief among them the Ontario Home Builders’ Association, Ontario Real Estate Association, and the Building Industry and Land Development Association – to, in short, make more land available on which to build lowrise homes. And to speed up the approvals process. The Canadian Home Builders’ Association (CHBA) is also growing more vocal. In early March, it released an in-depth analysis of key factors underlying housing market conditions. The Housing Supply Deficit – Not Enough Homes for Families with Young Children, points to a significant and growing 44 YPNEXTHOME.CA
mismatch between housing demand and what the residential construction industry is able to supply, given planning and zoning patterns and lack of available serviced land. The report notes that if current trends continue, Canada will see a shortfall of 300,000 family-oriented homes over the next decade. “There has been a lot of commentary around what’s driving house prices in markets like Vancouver and the GTA,” says CHBA CEO Kevin Lee. “Much of this overlooks the fundamental factors of supply and demand, and the increasing number of young families trying to achieve homeownership.” In Ontario, having seen how effective a foreign buyers’ tax in Vancouver was to cooling a potentially overheating market there, the province is taking similar action. Something… anything might be better than to let double-digit price growth
continue unchecked, proponents say. But, critics argue, slapping a tax on foreign purchases is short-sighted and will do nothing to facilitate a long-term solution to increase the supply of new homes. If all of this wasn’t complex enough, add the prospect of the National Housing Strategy. Due out at some point this year, this federal initiative will attempt to address the varied and challenging issues, involving differing provincial and regional economies, housing markets and conditions, from affordable housing to rental markets to homeownership. Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl
South Central Edmonton North Saskatchewan River
84 St.
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75 St.
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90 Ave. 83 St.
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95 Ave.
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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. 77 Ave. 76 Ave.
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4 51 Ave.
MAP LISTINGS
1 THE ARBOR AT AVENUE 83 10002-83 Avenue 2 Le Quartier Condos BY INFINITI DEVELOPMENTS
8627-91 St 3 ELEMENTS URBAN VILLAGE BY CARRINGTON COMMUNITIES
7711 – 71 Street NW
4 THE UNIVERSITY BROWNSTONES
7 CASCADE LUXURY CONDOS
BY TESSCO
BY PK DEVELOPMENTS
108 St. & 71 Ave.
9008 - 85 Ave
5 LUMIERE BY INFINITI DEVELOPMENTS
10836-85 Ave.
8 WILLIAM OFF WHYTE BY GREENVIEW DEVELOPMENTS
83rd Ave. and 109th St.
6 STUDIO ON THE HILL BY I4 PROPERTY GROUP
9859 – 90th Ave
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 45
Neighbourhood Profile
Bonnie Doon By Amy Hancock
Fast facts Average household income
$85,718
Most common housing type
Detached
Family composition
FAMILIES
COUPLES
SINGLES
26%
33%
41%
Own vs. rent
43% RENTERS
BONNIE DOON IS LOCATED in southcentral Edmonton extending roughly from 82nd Avenue to the North Saskatchewan River, with Millcreek Ravine bordering west, Connors Road and 83rd Street north-east. Mature trees shade older bungalows, impressive infill housing and Alberta’s only Francophone university. Bonnie Doon is home to Edmonton’s French Quarter and is the heart of the FrancoAlbertan community.
The vibe Like most urban neighbourhoods the main streets are busy with bus and vehicle traffic as people come and go from shopping malls, supermarkets, banks and medi-centres. In the residential streets you’ll feel an instant calm as vehicle noise is replaced by songbirds and the rustling of leaves from the green canopies above. Students at Campus St. Jean study in the park and French conversations spill out of local cafes. Meet the neighbours Surprisingly for an older neighbourhood, the majority of 46 YPNEXTHOME.CA
the residents here are aged 20-29 and living in one or two-person households, according to the 2011 Census of Canada. They’re either students or successful young professionals. Spend any time in the neighbourhood and you’ll find the rest of the population is made up of seniors, many life-long residents of the area. Planes, trains & automobiles Major bus routes run north-south right through Bonnie Doon Centre. Commuters can bus downtown or to Whyte Avenue in five minutes. Head east down 82nd Avenue to Sherwood Park and north up 83rd Street to Connors Road for easy access to the river valley and downtown core. Bonnie Doon is also in line to receive a new LRT station as part of the future LRT expansion. Dollars & sense Bargain hunters can find deals at the mall and nearby thrift stores. Most retail and restaurants are priced below average. There are plenty of real estate options including lower priced
57% OWNERS
Education levels
37% HIGH SCHOOL
28% COLLEGE
35% UNIVERSITY
SOURCE: ENVIRONICS
condos. The single-detached homes are listed at above-average prices. Real estate There are some rental apartments and owned condos located near Bonnie Doon Centre that are priced according to market average. Updated character homes, modern infill housing and expansive luxury estates with river valley views make up the remainder of the housing. A mid-priced market does exist, but homes for sale in that range are snatched up quickly. Bonnie Doon also has many bungalows for rent including full-house, main-floor and basement suites units.
231 St.
West Edmonton Yellowhead Trail
124 St.
159 St.
87 Ave.
WHITEMUD FWY.
QUESNELL BRIDGE
199 St.
69 Ave.
6
11
GROAT BRIDGE
142 St.
163 St.
170 St.
2 149 St.
156 St.
178 St.
8 1
175 St.
Rosenthal Blvd.
102 Ave.
Stony Plain Rd. 100 Ave. 95 Ave.
182 St.
ANTHONY HENDAY
Stony Plain Rd.
107 Ave.
a en d. Bu ta R Vis
Winterburn Road (215 St.)
Secord Blvd. 4
5 10
Ma yfie ld
Rd .
111 Ave.
Callingwood Rd.
9 35 Ave
MAP LISTINGS
North Saskatchewan River
3
1 THE CALIFORNIAN PARKLAND BY ABBEY LANE HOMES
2035 Grantham Court 2 GROVENOR MANOR BY PELHAM MASTER BUILDER
10126 – 144 Street 3 HAVEN TOWNHOMES
5 JADE BY CARRINGTON COMMUNITIES
1004 Rosenthal Blvd
RIVERS EDGE BY CHRISTENSON GROUP
3090 Cameron Heights Way
6 GLASTONBURY MEWS & ESTATES 1589 Glastonbury Blvd
10 RENEW IN ROSENTHAL
8 VIP AT CALIFORNIAN PARKLAND
11 STAFFORD GREENS (Stafford Greens II COMING SOON!)
BY BROOKFIELD RESIDENTIAL
BY ABBEY LANE HOMES
7385 Edgemont Way
2035 Granthan Court
4 SECORD CHALET
9
BY DAYTONA
1 &2 8209-217 Street NW
BY ALLDRITT GROUP
7508 Getty Gate
BY HOPEWELL
#5, 320 Secord Blvd
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 47
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
48 YPNEXTHOME.CA
Inspiration
Night Table $70 walmart.ca
Stockholm Coffee Table $199 ikea.ca
Wooden Shelving Unit $450 bouclair.ca
Blondes have
MORE FUN
Good-bye espresso, mocha and ebony wood, and hello you beautiful blondes! The trend has turned to lighter and brighter tones, creating an oasis of calm comfort.
by Elisa Krovblit
Canvas Oslo Console Desk $300 canadiantire.ca
Jackson Floor Lamp $349 crateandbarrel.ca
Antwerp Cabinet $3,750 jonathanadler.com
Kaishi Chair $899 cb2.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 49
Trending
CMHC warns of “problematic” conditions, despite improvement in some housing markets
CONDITIONS IN CANADA’S HOUSING markets are showing some signs of
improvement, but Canada Mortgage and Housing Corp. (CMHC) continues to warn of “strong evidence of problematic conditions.” CMHC’s quarterly Housing Market Assessment (HMA) report offers insight and analysis, based on available housing data across Canada. The HMA acts as an early warning system for the country’s housing markets – an important tool supporting financial and housing market stability. CMHC defines “problematic conditions” as imbalances in the housing market. Imbalances occur when overbuilding, overvaluation, overheating and price acceleration – or combinations thereof – stray significantly from historical averages. REGIONAL HIGHLIGHTS » Strong evidence of problematic conditions appears at the national level. » Evidence of overvaluation has been downgraded from “strong” to “moderate,” now present in six metropolitan centres instead of eight. » Overbuilding has been flagged in six metropolitan centres, down from the previous eight. » The Prairies continue to show moderate to strong evidence of overbuilding. » Vancouver’s housing market continues to show strong evidence of problematic conditions due to moderate evidence of price acceleration and strong evidence of overvaluation. » Evidence of overvaluation is up from a moderate rating to strong in Victoria, 50 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
as fundamentals are not keeping up with rising prices. There is also moderate evidence of price acceleration and overheating, leading to strong overall evidence of problematic conditions. » Conditions have improved in Regina, Montréal and Québec relative to home prices. » Housing supply in Moncton and St. John’s is adjusting to demand. » Toronto and Hamilton continue to face price acceleration, overvaluation and overheating. Price growth has intensified and demand is outpacing supply in the rental, resale and new-home markets.
Spruce Grove H
ar v 2 Ridg est
Jennifer Heil Way
eD r
MAP LISTINGS
Vanderbilt Common
r ve D Gro est W
1
Grove Dr. 4 3
1 SILVERLEAF AT JUBILEE PARK 500 Grove Dr 2 EDGEWATER VILLAS BY LANG BUILT HOMES
Just off of Harvest Ridge Dr 3 ALTIUS MCLAUGHLIN BY STREETSIDE DEVELOPMENTS
50 McLaughlin Drive 4 HERITAGE CREEK BY THE CHRISTENSON GROUP
50 Heatherglen Drive
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MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 51
Advice | MAKE YOUR MOVE
How to prepare for moving day By Chuck Resnick
MORE ADVICE ONLINE ypnexthome.ca/news/advice
TIMING IS EVERYTHING, and when it comes to ensuring a successful move, that statement rings true. Even if it’s not “everything,” using some careful planning and forethought helps “everything” happen efficiently. The point is, as soon as you decide to move, start your thinking process, explore your options and take action. First, are you going to move yourself, or will you hire movers? It’s best to book the truck or the moving company at least a month ahead, and preferably more. Keep in mind that because of more cooperative weather, late spring, early summer and early fall are the most popular times of the year for moves. If you wait too long to book, you may have trouble getting someone during 52 YPNEXTHOME.CA
those seasons. Keep in mind, June 30 is the busiest moving day of the year! Next, are you going to pack or take advantage of professional packing services? If you are thinking DIY, start collecting/buying boxes and packing material. Remember that professional movers usually sell standard-size boxes that are sturdy and easy to stack, as well as paper that can protect your items without leaving newsprint behind. Last, but not least, what do you want and need to move? Now is the time to purge all of those unnecessary items that have been at the back of your closets for months, and often years. The less “stuff” you move, the easier and less expensive it will be.
MOVING CHECKLIST: What to do, and when A month before the move … » De-clutter, sort, pitch, give away, donate to charity, host a yard sale – whatever – but pare down your stuff. » Obtain change-of-address cards from your local post office. » Notify magazines, insurance companies, banks, credit card companies, schools and employers of your change of address. » Start using up food and perishables to minimize what you throw out on moving day. » If you are moving to a new home or condo that includes appliances, ask for the owner’s manuals ahead of time.
2 weeks before the move… » Make a “survival closet” of items you will need to clean the place once furniture is moved (broom, dustpan, cleansers), and even snacks that you can grab quickly during the process. » Either start packing or make sure your mover begins. Label boxes as you pack with both the contents and which room each will go into at your new digs. Write the destination room on the top and sides of each box. » Schedule disconnects for utilities and phone, but make sure you still have the use of your phone line on moving day. At the same time, arrange for hook-ups at the other end. » Cancel newspapers, cable TV, security system monitoring and any companies you use for services such as cleaning and lawn maintenance. » Mail out change-of-address cards.
The day before the move… » Clean out, defrost and dry the fridge and freezer. » Get to a bank or bank machine and take out enough cash to tide you over. » Pack a last-minute essentials bag/box. » Arrange for children and pets to be looked after elsewhere on moving day.
On moving day… » Double and triple check rooms, closets, the garage and basement to ensure that you have all of your things and the areas are left clean. » Don’t forget to carry your own (family’s) valuables, cash and items relevant to the move, and all other important documents.
Chuck Resnick is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 53
Inspiration
Party Like a Pineapple Outdoor Cushion $11.50 walmart.ca
Pineapple Toss Cushion $39 urbanbarn.com
Party like a
PINEAPPLE By Elisa Krovblit
Juicy, sweet and oh-so-bright yellow, as a friend recently said to me, “Who doesn’t love a pineapple?” Too true – we love that cute little fruit and will enjoy using it in our decor since, aside from the Piña Colada, it has made its whimsical way into this season’s hottest home accents – especially for entertaining.
Canvas White Pineapple Tealight Holder $20 canadiantire.ca Pineapple Swizzle Sticks $15/set of 4 crateandbarrel.ca
54 YPNEXTHOME.CA
Pineapple Doormat $12 simons.ca
Pineapple Lounge Chair $70 homesense.ca
Carmen Pineapple Ice Bucket $100 cb2.ca
allen + roth Green Earthenware Pineapple Tabletop Accent $20 lowes.ca
Large Pineapple Jar $45 indigo.ca
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 55
Trending
ALBERTA REBOUND Why 2017 might the year to buy By Gene Kosowan
AS ALBERTA CONTINUES to endure a difficult economic recession, homebuyers and investors across the province are cautiously optimistic that the worst may be over. “In 2016, there was so much change and uncertainty, people didn’t know what to do,” says John Stobbe, a broker and owner at Century 21 Platinum Realty in Edmonton. “Now, we see that the sky hasn’t fallen totally during the last couple years. It’s like, ‘Okay, this is the new normal. Let’s get on with it.’” In short, Wild Rose Country isn’t exactly in full bloom, but the buds are starting to sprout from the branches. Crude oil prices, which plummeted to less than $30 a barrel in 2016 after achieving record highs of $155 eight years earlier, are slowly creeping up past the $50 mark, creating some relief in Alberta’s largest industry. And while the unemployment rate is still hovering above eight per cent, the Conference Board of Canada predicted last December that Alberta’s Gross Domestic Product (GDP) will grow by 2.2 per cent in 2017 – a far cry from the red ink the year before. While those indicators might light up the eyes of property investors, experts are advising those looking at real estate to proceed with caution. “I wouldn’t run out and buy five houses, but if you were looking for an opportunity, I think now is a reasonable time,” says David DaleJohnson, economics professor at the Alberta School of Business at the University of Alberta in Edmonton. Patrick Francey, CEO of the Real Estate Investment Network (REIN), suggests it’s currently a good time to shop around, while still keeping an eye on changing economic conditions. 56 YPNEXTHOME.CA
“Until you have employment and people moving back into the province, creating demand for rental units, which will then drive the demand for sale units, the world of real estate right now is looking at opportunities to buy,” he says. “Knowing that in the next couple years, as the economy starts to pick up and GDP actually increases, that’s what’s going to drive real estate.” Insiders agree that the best places in Alberta to search for opportunities are within its two largest cities. “For both Edmonton and Calgary, there are great buying opportunities right now, but there’s no rush,” says Francey. “That’s the good news. You’re finding the properties that [generate] cash-flow in a single-family would have preferably coming from basement suites. Anything that’s in the $400,000 to $500,000 range is still very strong in the marketplace, but ultimately, there are good opportunities to buy. You’ve got to look for the deals, but they exist. And there are cash-flow opportunities, especially in those single-family uptown suites.” In Calgary, with $5.8-billion being invested in infrastructure, including expansion of the city’s light rail transit system, indicates that 2018 could be a turnaround year for property investment. “The smart people are buying; the masses maybe aren’t,” says Glen Godlonton, a Calgary-based ReMax realtor who’s noticed increased investor interest since January. “The multi-million-dollar stuff is definitely down. But the $300,000 to $400,000 stuff is moving. There are still lots of multiple offers.” The buzz is just as loud in Edmonton, much of it on the strength
of $5.5 billion sunk into construction projects, including the new Rogers Place arena and light rail transit expansion. The manpower needed for those projects, says Stobbe, will help Edmonton grow steadily the next
Until you have employment and people moving back into the province, creating demand for rental units, which will then drive the demand for sale units, the world of real estate right now is looking at opportunities to buy
MORE TRENDING ONLINE ypnexthome.ca/news
couple years, although nowhere near the boom years. “We’ve had a number of years, where it’s just been build, build, build. So, we’ve been pleasantly spoiled in that there are lots of projects on the go that are generating jobs. While some of them are initially construction jobs, there will be long-term jobs to look after those things.” Smaller centres in Alberta are dicey propositions for property investors, according to Francey, even though many of those municipalities, including Grande Prairie in northern Alberta, are starting to enjoy increased oil patch activity. “As they come back on-stream, you see the smaller centres in the oil and gas industry go through the same cycles, which is that the peaks get really high and the valleys get really low,” he says. “When you’re picking regions to invest in, and you look at a smaller centre like Grande Prairie, your risk factor is always larger. But when you look at a larger centre like Edmonton or Calgary, the risk isn’t as impactful in that regard.” Fort McMurray, however, is as risky as they come, given the double whammy it experienced. The first blow landed squarely into the geographic heart of the energy sector in the form of an oil economy collapse that started late in 2014 and has since thrown roughly 9,000 residents out of work. But the sucker punch that followed was even more devastating, when a forest fire last May forced an evacuation of the city before wiping out a tenth of the municipality.
PHOTO BY ICE DISTRICT PROPERTIES
Patrick Francey, CEO of the Real Estate Investment Network (REIN)
MAY 19 - JUN 16, 2017 | NEW CONDO GUIDE 57
John Stobbe, broker and owner, Century 21 Platinum Realty, Edmonton
Now, we see that the sky hasn’t fallen totally during the last couple years. It’s like, ‘Okay, this is the new normal. Let’s get on with it.’
Preliminary housing starts data SINGLE-DETACHED
ALL OTHERS
MAR‘16 - MAR‘17 - % INCREASE
TOTAL
MAR‘16 - MAR‘17 - % INCREASE
MAR‘16 - MAR‘17 - % INCREASE
Edmonton
290
280
-3
584
880
51
874
1,160
33
Calgary
217
283
30
194
862
344
411
1,145
179
Alberta
650
719
11
907
1,1801
99
1,157
2,520
62
However, after the last wisps of smoke trailed off, Micheal Cammock, a realtor at The Lowe Group in Fort McMurray, noticed interest in buying had increased, not only among folks who lost their homes, but from investors as well. “When we first came back from the fire, we’ve seen investors come back to the table to cash in on the rental market, which is going to come forward once all the rebuilding starts,” says Cammock. “We have a lot of buyers and that’s going to continue throughout the year. What it will do to the market depends on so many other factors. We’ll see; 2018 is supposed to be a good year, but you never know around here. Things can change really quickly.” Francey acknowledges that with the 58 YPNEXTHOME.CA
creation of 3,000 construction jobs, Fort McMurray is currently enjoying a rebuild economy. But he warns that a cloud of uncertainty surrounding the oil sands industry still makes for foggy projections once projects are complete. “As a property investor, you have to really look at it and make determinations for what you see in the future.” Besides the economy, DaleJohnson warns of additional roadblocks, including stricter entrylevel barriers set by Canada Mortgage and Housing Corp., such as mandatory requirements making lenders take out mortgage insurance if down payments are less than 20 per cent, and maximizing the amortization period at 25 years. “That just makes it really tough
for people who, at least up to this point, haven’t managed to access the market,” he says. Furthermore, if the U.S. starts to hike interest rates, Dale-Johnson believes it won’t take long for the Bank of Canada, holding its overnight rate target steady at 0.5 per cent, to follow suit. The trick, he says, is in the timing. “If you are to buy now, you’re getting a fairly reasonable price and are probably going to finance it at a rate you may not see again.” Most realtors suggest people do their due diligence, assess their cash flow and look for deals to minimize the risk involved in investing in Alberta property. “Find a good realtor who knows what he’s doing and he’ll help you out,” adds Godlonton. “The biggest thing? Just do it!”
PHOTO BY KATZ GROUP
MARKET
Trending
10 things to do in Edmonton on a budget by Gene Kosowan LET’S FACE IT: everyone wants
#7 Live theatre on Tuesday
to stretch their dollars a little further. That usually means cutting entertainment out of the budget. Fortunately, in Edmonton, you can find some entertainment options that won’t break the bank. Here are 10 activities to keep you amused – and in the black.
Can’t hang with the see-and-beseen crowd on opening night of a much-talked-about theatrical production? See the same show on Tuesday, when most mid-size theatre companies, such as Theatre Network, Northern Light Theatre and Teatro La Quindicina, offer pay-what-you-can incentives.
#10 Alberta Art Gallery The biggest gallery in town is home to some 6,000 collections with three floors of exhibition space. If you want to catch the trendiest exhibit of abstracts or works by some of the best artists in the world and admission is out of your price range, take heart. The AGA lets patrons in for free on the last Thursday of the month, from 6 to 9 p.m. – proof that culture doesn’t cost a lot of coin. #9 Oil Kings at Rogers Place It’s no secret that catching the NHL Edmonton Oilers will cost an arm and a leg. Hockey fans should check out the Western Hockey League’s Edmonton Oil Kings, featuring the next generation of ice-shinny hopefuls in the palatial Rogers Place at prices ranging from $20 to $35 a seat – a bargain compared to Oilers tickets priced as high as $350. Plus, you can root for a home team with a much better winning record!
#8 Pasta Frenzy at Chianti Café It’s almost mandatory to dine at Chianti, housed in the historic post office building, to get into the boho vibe of Old Strathcona. And, for families, the motive is more irresistible on Mondays and Tuesdays, when prices drop to $9.99 on more than 30 pasta dishes.
#6 Edmonton Eskimos Family Huddle Get in on some gridiron action when the city’s favourite CFL team takes to the field at Commonwealth Stadium and save some green in the meantime. The Esks make it more affordable than ever for families to enjoy pro football by offering the Family Huddle package, with single tickets at $27.50 (playoff seats are $29.50).
#5 Po’ Boys at DaDeO Fans of Cajun-style cuisine frequent this retrostyle Whyte Avenue eatery and swear by the $12 sandwich deal offered Mondays and Tuesdays, which saves you at least 20 per cent on each order. Choose from blackened chicken, Philly cheese steak or all-veggie from more than a dozen options available. Your dish arrives on a French loaf with coleslaw, and choice of sweet potato fries, jambalaya rice or potato hash.
#4 Reel Family Cinema Going to a movieplex these days isn’t cheap and there’s always a chance that what you pay to see may turn out to be a box office dud. Thankfully, there’s a way to ensure you catch a classic flick with the family at a cheaper rate. The Metro Cinema (formerly Garneau Theatre) brings back the old Saturday matinee with classic family films ranging from Annie to Toy Story so
that the brood can experience highcalibre cinema on the big screen in a historic movie theatre.
#3 Free Festival Fun Don’t let an empty wallet disqualify you from enjoying what Festival City has to offer. Some festivals won’t cost you a cent to attend, such as the Kaleido Family Arts Festival in the fall and the Deep Freeze Festival in January, both located on the Avenue of the Arts, with the Carrot Coffee House acting as a hub. Summer fare includes The Works Art & Design Festival, with scores of free art venues and live entertainment on Sir Winston Churchill Square. That’s also where the Edmonton International Street Performers Festival and Edmonton International Jazz Festival trots out its free attractions during its June run. And in August, you can’t go wrong with the free outdoor entertainment at the Edmonton International Fringe Theatre Festival.
#2 Pizza at Branches Branches Fresh Food Experience in Sherwood Park uses only ingredients that reflect its moniker and on Tuesdays, offers patrons two pizzas for only $25.
#1 River Valley Last but not least, take advantage of the fresh air and natural scenery of Edmonton’s River Valley, Canada’s largest urban park, where at some point’s you don’t even realize you’re in the city. At your disposal are 160 kilometres of hiking and bike trails and 20 parks for picnics, barbecues and get-togethers, as well as facilities for golf, skating and skiing. This content was originally published on YP.ca. Read more YP travel tips and city guides at yp.ca/tips
THE HARMONY AT BARANOW
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148 AVE
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Bachelor, 1-2 bedrooms from $173s 463-915 Sqft Spacious & functional Floor plans Quartz countertops Heated underground parking Window coverings Non-slip, scratch proof & water-resistant limited lifetime warranty flooring 7 appliances Soft-closing kitchen & bathroom cabinetry. Soft-closing toilet seats 30 free air-conditioners on first come first serve Air conditioned common areas. Wheelchair accessible entrance Recorded video surveillance camera P2000 Developments only builds one project at a time enabling us to focus 100% of our attention on the details and features that provide the best product for the money.
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