Edmonton Builder & Developer Annual 2016

HIGHLIGHTING THE TOP

builders, developers & new communities across Edmonton

start your search here.

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

TA B L E O F CO N T E NT S

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77

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Special Features 06

EDITOR’S NOTE

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TRENDING

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Edmonton and Alberta economies, housing markets to improve in 2016 CHBA - ALBERTA

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Edmonton weathering the storm TRENDING

6 financial homebuying tips TRENDING

Neighbourhood farmers’ markets booming in Edmonton MORTGAGE ADVICE

Is the lowest mortgage rate always best for you?

BY ALYSSA RICHARD

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TRENDING

We shoot, we score! New arena projects boost real estate values

BY WAYNE KARL

Mortgage interest: What do you expect to pay?

INSPIRATION

How to create the perfect entrance to your new home

BY JANE LOCKHART

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BY GENE KOSOWAN

62

TRENDING

BY WAYNE KARL

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BY WAYNE KARL

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The Scoop – decor news, inspiration, style and more

BY ELISA KROVBLIT

BY JIM RIVAIT

38

INSPIRATION

INSPIRATION

Talking trends with Tommy Smythe

BY SALINA YARA HALABI

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HOMEBUYERS’ RESOURCE

Mortgage tips, and checklist when shopping for your new home or condo

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Builders, Developers and New Communities PRESIDENT, YELLOW PAGES NEXTHOME

8 Beaverbrook Developments 11 Hopewell Residential

Jacqueline Hill

43 Slokker

EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge

46 White Eagle Homes

DIRECTOR OF SALES

14 Regency Developments

49 Creekwood and the Collections at Creekwood

17 Coventry Homes

53 Pacesetter Homes

21 Qualico Communities

56 Crystal Creek Homes

24 Christenson Developments

59 Tamani

28 Brookfield Residential 31 Alldritt Land Corp. LP 35 Westrich Pacific 39 Walton Development & Management LP

Moe Lalani

SALES MANAGER, ALBERTA

Shelley Balla EDITOR

Wayne Karl ART DIRECTORS

Tammy Leung, Megan Pike

64 Jayman 67 Mattamy Homes

ACCOUNT EXECUTIVES

Shelley Balla

70 Reid Built Homes

587.784.4044

74 Sterling Homes

Nancy Chemait 780.619.3241

79 Pompei Homes

Natalie Houghton

87 Montorio Homes

587.226.1313

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SENIOR PRODUCTION MANAGER

Bala Gnanapandithan

PRODUCTION CO-ORDINATOR

Greg Van Sluytman GRAPHIC DESIGNERS

Greg Van Sluytman, Viosa Barileva, Miguel Cea, Mike Terentiev Edmonton’s Builder and Developer Annual is published once a year. PO Box 458 Station Main Edmonton, AB T5J 2K1 NATIONAL ADVERTISING: Call 416.626.4200 for advertising rates and information.

COPYRIGHT 2016 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 2016 Builder and Developer Annual 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.

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E D ITO R’S N OT E

EDMONTON

CITY OF CHAMPIONS Fresh off a Grey Cup championship by the CFL’s Eskimos, Edmonton once again can truly be crowned the “City of Champions.” And it comes at the perfect time.

Two-thousand and fifteen wasn’t the easiest of years for Edmonton – indeed, for the province of Alberta – with the challenges brought on by the oil and gas slump.

But as a number of stories in this 2016 edition of the Edmonton Builder & Developer Annual illustrate, this city proved its resilience, and then some.

Edmonton is not usually mentioned in discussions about strong or healthy real estate markets at the best of times, let alone when one of its major employment sectors is in a downtown. But, as CHBA Alberta CEO Jim Rivait points out on page 34, it absolutely should be.

A resilient economy, infrastructure improvements, forward-thinking economic development and housing affordability are among the city’s attributes. This last point cannot be overstated; Edmonton may not boast the double-digit value appreciations of other markets, but housing here is among the most affordable in Canada. For a look at the other end of the spectrum, visit ypnexthome.ca to see what’s going on in Toronto or Vancouver.

Current challenges notwithstanding, Edmontonians know the outstanding value of real estate in this city.

And it’s about to get better. A project spearheaded by the ownership of the Edmonton Oilers (see page 77) is expected to yield benefits far beyond a new hockey arena. Indeed, even if you’re not a sports fan, the downtown development centred around the new Ice District will produce championship lifestyle, cultural – and, importantly homebuying – opportunities.

WAYNE KARL

Senior Editor Yellow Pages NextHome Wayne.Karl@ypnexthome.ca Follow me on Twitter at Twitter.com/WayneKarl

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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!

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016  7

Beaverbrook Communities is committed to offering you flourishing and vibrant communities, in the best neighbourhoods.

Our communities appeal to homeowners through a seamless integration of amenities and recreation, in dynamic spaces that promote interaction, comfort, and active lifestyles.

The Beaverbrook team has knowledge of the up-and-coming, the current trends, the changing demographics, and the push for greener elements in design.

All this combined allows us to continuously push boundaries, create something new, and remain dedicated to innovation as we set ourselves apart from the competition.

Beaverbrook Communities’s goal is to build a legacy of beautiful neighbourhoods that are timeless in their character and design.

Visit www.beaverbrook.ca to learn more.

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UPPER WINDERMERE Southwest Edmonton Upper Windermere is one of the most prestigious neighbourhoods in Edmonton. This community offers residents an exclusive lifestyle, with its private leisure centre, complete with a heated outdoor pool, skating rink, tennis court and basketball court. The community is enhanced by an intricate park system that stretches to the North Saskatchewan River and its distinct architectural details.

• Estate lots starting from the $350’s • Buy directly from the developer only 10 lots remain

www.upperwindermere.com

ONE AT KESWICK Southwest Edmonton

ONE AT WINDERMERE Southwest Edmonton

ONE at Keswick features Contemporary Modern and Prairie Modern homestyles throughout the community. Residents of ONE at Keswick will enjoy easy access to a variety of amenities, many intricate walking trails with a river valley connection and plenty of community green space to enjoy.

Located in southwest Edmonton, ONE at Windermere offers two distinct architectural styles, Prairie Modern and Contemporary Modern. Living in smart, modern style, residents will take advantage of the best shopping at the Currents of Windermere, two golf and country clubs, and a brand new K-9 Catholic school, to open in fall 2016.

• Homes starting from the $350’s • Duplex, Urban, Premier homes www.oneatkeswick.ca

• Homes starting from the $370’s • Duplex, Urban, Premier, Estate and Bungalow homes available • Buy a lot directly from the developer, or build with one of our builders www.oneatwindermere.com

THE HILLS AT CHARLESWORTH Southeast Edmonton The Hills at Charlesworth is located along Ellerslie Road, east of 50 th street in the southeast portion of the city. This new community incorporates a variety of low impact development and green building best practices to create a unique subdivision that sets the bar for sustainable development in Edmonton.

• Homes starting from the $350’s • Townhome, Duplex and Single Family homes available www.hillsatcharlesworth.ca

HUDSON PARK Northwest Edmonton

ROBINSON Leduc

Nestled in an established area of Northwest Edmonton, Hudson Park has easy access to entertainment, restaurants, and retail stores. With Anthony Henday Drive right around the corner and downtown only a short drive away, you’ll have everything you need right at your fingertips.

Nestled in southeast Leduc, Robinson is just minutes away from numerous amenities, including the Leduc Recreation Centre, schools, and Telford Lake. Robinson is the ideal community for families, and features a beautiful storm pond, a central park and playground, a toboggan hill and an outdoor rink, all connected by an extensive walkway system.

• Homes starting from the $400’s • Duplex and Single Family homes available • Buy a lot directly from the developer, or build with one of our builders

www.homesinhudson.ca

• Homes starting from the $315’s • Townhome, Duplex and Single Family homes available • Buy a lot directly from the developer, or build with one of our builders

www.liveinrobinson.ca

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GREENBURY Spruce Grove Situated along the east boundary of 60-acre Jubilee Park, Greenbury offers the warm, timeless style of New York Brownstone architecture.

Greenbury embraces greener living through innovative stormwater management techniques, LED street lighting, a builder green home rating system and wind power in an affordable way, making it easy for families to adopt.

• Homes starting from the $350’s • Townhome, Duplex and Single Family homes available www.greenbury.ca

KENTON VILLAGE Spruce Grove Located in Spruce Grove, south of Highway 16 along Century Road, Kenton Village provides easy access to many amenities, including the future Westwind Commercial Centre. Residents of Kenton Village can choose between two distinct architectural styles, Prairie Modern and Contemporary Modern.

• Homes starting from the $350’s • Duplex and Single Family homes available www.kentonvillage.com

THE WOODS AT KENTON Spruce Grove Located along Century Road at the east end of Spruce Grove, The Woods at Kenton offers all the conveniences of modern living in an ideal setting. Each of the 31 estate lots back onto a protected tree stand, and boasts enough space for an attached triple car garage. The Woods at Kenton encourages originality and includes many architecturally diverse homes.

• Estate homes starting in the mid $600’s • Buy a lot directly from the developer, or build with one of our builders www.woodsatkenton.ca

PRESCOTT Spruce Grove

THE CLUB & RESIDENCES OF RIVER’S GATE Sturgeon Valley

STONECREEK & PARSONS CREEK Fort McMurray

Located on the eastern edge of Spruce Grove, residents can take advantage of easy access to Edmonton. The community’s comprehensive walkway system is planned to include a creek and a beautiful naturalized storm pond.

Prescott is also home to Spruce Grove’s new K-9 school. Set to open Fall 2016, the school will be home to a variety of before-and after-school programs, a daycare, and a Wellness Centre that will host many health and fitness activities.

Situated on the banks of the Sturgeon River, next to St. Albert, River’s Gate offers the area’s only gated cul-de-sac, offering privacy that is second to none.

River Lot 56 Protected Natural Area, Sturgeon Valley Golf and Country Club, as well as the community’s walkways create a beautiful, peaceful ambience to complement any home. Featuring a limited number of half-acre lots, River’s Gate is ideal for building the estate home of your dreams.

Stonecreek sits on the edge of lush ravines along the Athabasca River, while Parson’s Creek is nestled in the boreal forests of the Athabasca River Basin. Both communities offer a variety of housing products, and unique architecture that elevates the standard of residential homes in Fort McMurray. Stonecreek features an outdoor skating rink, as well as a trail system and large commercial area.

• Lots starting from the $330’s • Buy a lot directly from the developer, or build with one of our builders

• Duplex lots starting from the $230’s • Single Family lots starting from the $350’s • Buy directly from the developer

www.riversgate.ca

www.stonecreekinftmac.com www.liveinparsonscreek.ca

• Homes starting from the $320’s • Duplex and Single Family homes available www.liveinprescott.ca

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Hopewell Residential: Edmonton’s best homes and communities hopewell residential, an award-winning land developer and homebuilder, provides the best of both worlds for the new home industry in edmonton.

SYNERGY2 IN HAWKS RIDGE

Turn the page to see how Hopewell Residential is changing the landscape of the city’s homes and communities.

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Better living in a stylish Hopewell Residential Home NOVEC IN HAWKS RIDGE

W

ith a history spanning more than 20 years, Hopewell offers Edmonton homebuyers an unwavering commitment to quality, outstanding customer service, and an innovative selection of homes for every lifestyle.

With multiple home-style options and respected builders, Secord has something for everyone. The community also offers a wide variety of Hopewell Residential home types, from Chalet townhomes to laned and front-attached garage single family homes.

Hopewell’s story began in 1984 as Basal Homes, and over time evolved to become Hopewell Residential, a company renowned for high quality and distinctively stylish homes. Since its inception, Hopewell has built thousands of homes, always priding itself on attainable price points, a wide range of features and lasting value.

Hamilton points out that Hopewell provides “uncompromising quality, refreshing distinctiveness, compelling character and a combination of features rarely available elsewhere”. Originality is a driving force behind their homes, as Hopewell is determined to do things differently, not for the sake of being different, but because innovation makes the homes – and the lives of the homeowners – better.

In 1997, Hopewell introduced its land development arm, which led to the establishment of communities that are unparalleled in quality. What sets Hopewell apart, however, is their deeply-rooted commitment to caring about every home and community they create. Scott Hamilton, Director of Marketing & Communications, explains that Hopewell Residential creates homes and communities that are built around a family lifestyle.

“ We believe in building homes and communities that will stand the test of time.

“We believe in building homes and communities that will stand the test of time, “ he says. “Our values remain steadfast behind the idea that all of our offerings are family centered.”

One of Hopewell’s prestigious communities is Secord – a west Edmonton development that is a shining example of the company’s vision.

The community is already very well-established with two ponds, a natural wetland, pathways, new and fully-grown trees, parks, playgrounds and picnic areas – already in place for residents to enjoy.

”

Hopewell Residentials’ homes are available in many other coveted Edmonton communities throughout the city, including McConachie, Vita at Crystallina Nera, Trumpeter, Hawks Ridge and Woodhaven. Hopewell has also just opened brand new show homes in the south Edmonton community of Cavanagh.

Hopewell caters to a wide range of home buyers, and their affordability and unparalleled style make home building with Hopewell Residential an attractive option. Add low interest rates, value-added features and functional floorplans, and you’ve found amazing new home living that’s well within reach.

Hopewell Residential offers everything from townhomes to duplexes, laned homes, and front attached garage homes. With a range of price points, floorplans, options and locations, it’s easy to see why Hopewell is the talk of the town.

PRECISE IN HAWKS RIDGE

Building Homes, Communities, and an Award-Winning Reputation

A

five-time Developer of the Year award winner, Hopewell Residential has earned several Show Home Parade, Community, New Community and Subdivision of the Year Awards. Their most current wins were for the community of Mahogany in Calgary, which was awarded the Community Development award in the CHBA - National Awards of Excellence in Housing for Canada, and was also named threetime winner of the Community Development award in the CHBA - Calgary SAM Awards, something Hamilton notes Hopewell “is extremely proud of”.

“

Hopewell Residential Edmonton’s best homes and communities

”

Hopewell Residential is a recognized leader in community development, and both residential and multi-family construction. Their success is the result of the passion, determination, and talent of their team. Together, they build the spaces and places where people love to live. Hamilton adds that Hopewell “continues to see a future with active developments in Calgary and Edmonton. We are committed to building in Edmonton – we love the city and look forward to helping the city grow.”

To learn more about Hopewell Residential visit their website at hopewellresidential.com

OVATION IN MCCONACHIE

Regency Developments: DEVELOPMENTS

Changing the Edmonton landscape one project at a time

By Heather Ryan

DEVELOPMENTS

DEVELOPMENTS

EDMONTON-BASED REGENCY DEVELOPMENTS has built a reputation as leaders in developing infill communities and as leaders towards social responsibility in this thriving city.

And, with more than 1,500 new condominiums introduced to the market since 2008, Regency has plans to build upwards of 2,500 by the time their 10th anniversary rolls around in 2018.

“We’re one of the leading developers in Edmonton when it comes to multi-family residential, and we’ve continued to build even through slow economic times

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because we are bullish on Edmonton,” says Regency’s COO Raj Dhunna.

Regency builds infill developments with the intention of transforming their buyers into neighbours and not just people who share an elevator. Their vision for growing Edmonton involves offering homebuyers a safe, quality investment, as well as a chance to take advantage of existing infrastructure and to join and contribute to established communities.

The company’s dedication to quality craftsmanship and creative architecture have contributed to sold-out

DEVELOPMENTS

DEVELOPMENTS

DEVELOPMENTS

properties since its first building Quest Condominiums downtown, which was quickly followed by another downtown success story High Street District Properties as well as two projects south of the river – Madison on Whyte and Serenity Gardens.

Currently, Regency is nearing completion on its Edgewater Village on Jasper community – a catalyst project for revitalization of downtown’s east side. Phase 1 and 2 are two four-storey buildings that consist of 276 units and were finished last year and are fully occupied, while construction is expected to be completed in spring

2016 on the two high rise towers.

The new towers, which are 26 and 30 storeys, are changing the city skyline along the bank of the river valley and adding 408 homes to the Edgewater community.

“By the time these buildings are occupied, Edgewater will be home to about 1,500 residents,” Dhunna says, noting that all four buildings are connected by a large central courtyard. This courtyard has the primary purpose to allow residents to socialize and is highlighted by direct proximity to the main floor commercial tenants in both towers and a landscape design built for resident engagement, which

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 15

ELLERSLIE AREA: Just off of 111th Street and Ellerslie Road.

105 Units in concrete 8 story mid-rise development

include elements that are artistically designed.

Standing proud to the west in the city skyline is the iconic 36-storey Pearl Tower – the jewel of Regency’s portfolio. The impressive Pearl Tower offers luxury living with 128 Suites ranging from 600 to upwards of 4,000 sq. ft. The success of Pearl has been the allure of living the luxury and owing the legacy and it’s now 90% sold and offering immediate possessions.

This jewel includes a fully-landscaped public park to accommodate walkability in the area and features three prominent art panels with an artist’s design, which reflects the river valley elements.

Three exciting new Regency projects are also in the works: two in Edmonton’s core and another in the south that will offer buyers impeccable living space choices.

The first of the three projects is a concrete mid-rise already under construction known as LINK Condos at Ellerslie located off 111th Street and Ellerslie Road.

LINK will feature 105 units in eight storeys with a rooftop patio, an attractive price point and a location with amenities such as grocery stores, shops and services that are just steps away.

“The LINK ties into the bullish nature of our company as we’ve just launched sales and we anticipate possessions will be in late 2016,” Dhunna says. “This is a unique development because it’s an infill in an established community on the south side, and we have been receiving a lot of positive interest so we expect sales will go well.”

Dhunna notes the LINK is aptly named because it links

Regency clients’ future homes to their city with close proximity to major thoroughfares – Anthony Henday, Gateway Blvd. and the major transit station and LRT at Century Park.

The second of the three projects is 121 West Condos, a 244-unit condominium at 121st Street and 105th Avenue. Located in the heart of the 124th Street community, development of the new concrete mid-rise complex is expected to break ground in 2016. It will feature modern-style architecture with two buildings six and eight storeys tall. Buyers will have a choice of oneand two-bedroom units and a central courtyard area to entertain friends and mingle with neighbours.

Regency’s third development speaks to the strong desire of many Edmontonians to live close to an increasingly vibrant community downtown. The project will also continue Regency Developments’ legacy of leaving a mark on Edmonton’s ever-changing skyline with this anticipated 40-storey, mixed-use development at Jasper Avenue and 114th Street. Regency hopes to have approval on this project in the fall of 2016.

With these three new developments, Regency continues to build a reputation of creating inviting, livable communities and Dhunna says: “Stay tuned, Regency will have more projects in the pipeline and we look forward to continuing to help develop and enrich our city.”

To find out more about Regency’s latest developments, call 780-497-1700 or visit www. regencydevelopments.ca.

Any stated sq. ft. may vary from actual sq. ft. as per registered condominium plan. Developer reserves the right to make modifications or changes to sizes, specifications, materials and features without notice. E & O. E. key plans & floor plans may not be entirely accurate as shown. All colours and illustrations are artist’s concept.

Coventry Homes: Crafting quality-built homes in Edmonton for years

BUILDING HOMES EXCLUSIVELY IN EDMONTON and area since 1976 has

given multiple award-winning Coventry Homes a tremendous amount of experience in crafting quality-built, single- and multi-family homes with innovative designs and features that meet and exceed their customers’ expectations.

"We are an Edmonton [and area] only builder, it’s our focus and we prefer to exclusively build here," says Coventry Homes’ CEO Henri Rodier.

“We understand this market and we are laser focused on our clients.”

Their mission? Creating a great customer experience every time. “Be-

ing entrusted with the single largest [financial] investment most people will make in a lifetime is a responsibility that we take very seriously,” says Rodier. “For us it is not about being the biggest in the city, it is about being the best.”

This commitment to providing exceptional customer service has been recognized with numerous awards including: JD Power Builder of Excellence; Legacy Achievement Award from the Alberta New Home Warranty Program; 2015 Professional Home Builders Institute New Home Buyers Choice Award; and, for the past three consecutive years, the Consumer

Choice Award for Home Design.

“What’s special about these awards is that they are voted on by customers,” says Tara Van Horn, Marketing Manager at Coventry. “Customer service is very important to us.” Noting that she, along with the entire management team, takes the time to personally review every customer satisfaction survey submitted. “We use the information to refine and enhance our processes and relationships with our customers and to improve our designs to better meet our customers’ needs.”

In fact, based on the customer feedback, Coventry Homes has EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 17

added 10 new models in its lineup and has enhanced the interior design selection process, giving customers more time to select the features and finishes for their homes.

Coventry offers a wide range of home styles including bungalows, two-storeys, duplexes and will be re-introducing a townhome product in Laurel Crossing in the summer of 2016. As a flexible builder, Coventry is one of the few to offer homebuyers the unique ability to customize any of their floor plans to suit the buyer’s specific needs.

After carefully selecting the desired floor plan, buyers work with one of Coventry’s professional in-house design consultants to choose their per18 YPNEXTHOME.CA

sonally tailored colours, flooring and finishings. What sets Coventry apart, however, is their superior selection of high quality “standard” finishes – multiple granite, hardwood and tile options as well as 9-ft. ceilings. The company’s philosophy is “what you see is what you get.”

“We provide the most popular options up front, so our homebuyers do not have to spend extra on upgrades to have a great home. Because of this, there are no hidden costs,” Van Horn says.

Coventry’s homes are available in many of the most desirable communities throughout the city and surrounding area, including The Village at Griesbach, Newcastle, The Terrace

at Schonsee, Paisley, Aspen Trails in Sherwood Park and Lake Westerra in Stony Plain, to name a few.

In 2016 Coventry Homes will expand into two new areas – Riverside in St. Albert and Laurel Crossing in southeast Edmonton.

“Even with the downturn in the economy we are looking for growth, and we're optimistic. It is an exciting time for us,” says Rodier. He notes that with the company’s upcoming 40th anniversary there are big plans in the works for 2016. “We are extremely excited about sharing more details of this in the New Year, stay tuned.”

As 2015 draws to a close it is easy to see what all the excitement is

about. From the successful launch of their new brand, to opening 12 new showhomes and expanding into new communities, to becoming “The Preferred Builder of the Edmonton Oilers” this past year has been eventful for Coventry. Rodier states that Coventry’s partnership with the Oilers was an especially good fit since both “are committed to the Edmonton community.”

Giving back to the community that has supported them is very important to Coventry. For the past 10 years Coventry has worked with and raised money for the Edmonton Humane Society through their annual Coventry Homes Paws and Claws Gala – set for March 12, 2016. The Gala,

together with its other EHS focused initiatives, has raised more than $700,000 for the EHS and Rodier hopes to hit the $1-million mark in the next year or two.

“This year we were excited to add the ‘Oilers Pet Feature’ one of our newest fundraising initiatives,” explains Van Horn, adding that each month the Edmonton Oilers post a photo of a fan pet on their social media channels, and for every like, share or retweet Coventry donates $1 to the society.

For more information on Coventry Homes, or for a list of showhomes, visit www.coventry-homes.com or call 780-453-5100.

TR E N D I NG

Alberta and Edmonton economies and housing markets to improve next year AFTER A CHALLENGING 2015, the Alberta and Edmonton economies – and housing markets – can look forward to better times beginning next year and into 2017.

“Lower oil prices have had an impact on Alberta’s economy this year, affecting capital investment, energy exports and consumer spending, and in turn, the province’s housing starts,” says Lai Sing Louie, CMHC’s regional economist for the Prairie and Territories region. “New construction declined by about 20 per cent in 2015. However, oil prices are forecasted to rise next year and in 2017 as US crude oil production declines. This 20 YPNEXTHOME.CA

will help Alberta’s economy return to growth in 2016 and 2017.”

In Edmonton, strength in the multi-family sector will push total housing starts to 16,400 units in 2015. However, this strength will dissipate in the closing months of 2015 and throughout 2016 as slower economic growth and reduced net migration lead to softer housing demand.

“Multi-family starts began 2015 at a record setting pace, supported by a tight rental market and relatively low inventory on the ownership market,” says Christina Butchart, CMHC’s principal market analyst for Edmonton. “Weaker economic conditions and a well-supplied resale home market will continue to weigh down the new single-detached housing market in Edmonton in 2015 and 2016, but we should begin to see some modest growth in 2017.”

“In Calgary, the impact of lower oil prices on the labour market has weakened employment growth and has also slowed migration, and increased uncertainty among prospective homebuyers,” says Richard Cho, principal market analyst for Calgary. “Total housing starts in 2016 are forecast to decline an additional 16 per cent from 2015, but increase slightly in 2017,” says Cho.

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CHRISTENSON

DEVELOPMENTS Building A Legacy Of Sustainable Communities Christenson Developments Ltd., An differing Edmonton-Based Company, Originated CHRISTENSON meets lifestyle More Than 30 Years Ago By Lloyd Christenson. Working with his son Greg, Lloyd’s dream of its has urban villages creating needs quality homes forin real people long since come to fruition. When Lloyd retired, Greg Christenson and co-owner, Peter Dirksen took this leading developer and multi-residential building

by Heather Ryan company to another level.

They developed a philosophy that not only ensured a successful company but fulfilled Lloyd’s dream beyond anyone’s expectations. The company philosophy is based on three pillars - financial, social, and environmental Christenson Developments Ltd., an Edmonton based company, responsibility. This foundation for some theyears most ago progressive communities in and Edmonton. was accounts started more thanof35

by Lloyd Christenson andaround working Greg Christenson’s passion for building ‘right; and focusing on the community had resulted in awards for a number with his son Greg, Lloyd’s dream of creating quality homes for real people of these projects includinghas Raillong Town, a modern housing development, Creekside, the site of a former since comedowntown to fruition.

Gainers meat packing plant in the Mill Creek area, and Centre in the Park, an urban village mixed use community.

When Lloyd retired, Christenson, president and co-owner with Peter Dirksen, took Christenson Developments hasGreg received at least one of these awards every year for the past 10 years. this leading developer and multi-residential building company to another level.

Greg believes in giving back to the community.

Christenson Developments supports many local They developed a philosophy that not only ensured a successful company, but charities fulfilled and encourages others to do the same.

But it is not enough to donate to charities, Christenson feels a Lloyd’s original dream beyond anyone’s expectations. The company philosophy isresponsibility to actively promote socialpillars: awareness of the social aging population, strains on healthcare, youth issues and a need for based on three financial, and environmental responsibility.

This foundation accounts for some of and the most and aroundGreg Edmonton andtalk about refocusing on principles, values social progressive responsibility communities in the collectiveincommunities. doesn’t just Greg’s passion for building “right” and focusing on the community has resulted in awards change; he walks the walk in striving to create communities with family values, healthy environment, opportunity for for a number of these projects. the aging and youth.

Christenson Developments prides itself in providing people with a variety of lifestyle In 2013,choices: 88 new assisted living living residences be added villas in twoand phases to the Royal Oak in Lacombe. This active adult with will bungalows estate condos; andproject independent project living will consist more life-lease condo space; as well, it willInhave a much needed in lifestyle nursing staff. and of assisted living retirement communities. many cases, theseincrease different choices brought together urbanUniversity village concept, says.

The Royal Oak isare purposely located near in thetheir Canadian College toGreg facilitate integration of young and

The Name In Active Adult Living

old cultures, access to libraries, fitness centres and theatres.

“The goal of these communities is sustainability,” Christenson stressed. “The locations that we’re building these in need to be sustainable and it needs to be part of a sustainable community. It needs to integrate those elements to work really well.”

Christenson Developments prides itself in providing people with a variety of choices: to own, to rent, to life lease or Designated Assisted Living services. These choices are created with the knowledge that not only are Christenson clients receiving what they want but they are living in a value-based community built from the outside in with quality first and no detail left to chance.

These are unique communities designed with empty-nester homes or condos, then optional assisted living and the full care facilities all within the same community so people never need to move away from beloved family and friends as their housing The urban village concept focuses on creating needs change. Christenson Developments is a passionate the complete sustainable community, not just leader in developing sustainable communities and a top multithe bricks and mortar of a building, so it contains residential reputation second to none. walkways,builder parks with andapathways, along with transit, shops and professional services that people need, he explains.Developments focuses on the finished community, Christenson not just the bricks and mortar of a building. Increasingly, “Having a centre core of single-family homes more studies are being released revealing that a successful surrounded by higher density homes creates community must contain green spaces in order for people to a more walkable community and increases thrive.

The ‘Landscape laboratory, affordability and evenand theHuman optionHealth’ of having just in the University of Illinois, studies the relationship between green one car,” he adds since residents have the ability to walkand to all amenities public spaces human health.and Theirtake studies havetransit, produced a “which is also for the environment.” staggering rangegood of outcomes from nature deprivation, These disturbing outcomes range from earlier mortality for older “Our goal for the urban village is to provide adults, increased physical ailments, ADD symptoms in children, housing for 10,000 to 20,000 people because you PHOTOS LEFT TO RIGHT, TOP TO BOTTOM: DEVONSHIRE CAFE, GREG CHRISTENSON, PETER DIRKSEN, GLASTONBURY INTERIOR as well10,000 as, affected cognitive and social functions.

The positive need to attract a grocery store and other effects of nature in cities have even been demonstrated amenities that best service the various lifestyles to within reduce the bothcommunity.” physical and verbal aggression. With up to six hours a day in front of TV and computers, children are not Greg notes that Christenson Communities also familiar with the most rudimentary aspects of nature. Those These villas are ideal for people, such as emptypractices “Wellness Principles” in developing their who dovillages, not havewhich the nature experience, even in social a small way,nesters or down-sizers, who want to move out of urban include exercise and will not have to theencourage desire or theactive knowledge to protect today’s their single-family homes, maximize their quality interaction and healthy living environment tomorrow. time and enjoy a maintenance-free lifestyle. to improve residents’ satisfaction and their overall quality of life.

By Christenson Developments designing communities with An alternative to the bungalow villas, Greg says, is the estate condos that range from one bedroom Christenson is in the process of developing green spaces they are not just making ‘pretty park areas’ and one bedroom plus den, to two bedrooms and a number urban villages in and around the with nice homes; they are creating healthy habitat two bedrooms plus den configurations. Examples Edmonton area.rather Two examples of its asemithat is as important as proper dietRiver’s and exercise.

With proper detached bungalow villas are Edge Villas in of these estate condos include Eton Park Estates landscaping, considerate integration of homes and retail in Emerald Hills Urban Village in Sherwood Park south west Edmonton and the Villas at Lacombe Park in St. Albert. development, crime is reduced, health improved and generaland Reflections in Sherwood Park.

CDLhomes.com

“

Christenson Developments focuses on the finished community, not just the bricks and mortar of a building. Increasingly, more studies are being released revealing that a successful community must contain green spaces in order for people to thrive.

”

Christenson Developments focuses on the complete community, not just the bricks and mortar of a building. Increasingly, more studies are being released revealing that a successful community must contain green spaces activity in order for people to thrive. community well-being is increased.

Theand overall return is spaces not only financial but in producing healthy minds and bodies for tomorrow.

Village Hills in south Edmonton,” GregChristenson comments.

Christenson Developments Greg Christenson is very proudalso of hisoffers involvement with the Emerald Urbanwest Village, which includes Christenson is also expanding these housing independent living and assisted living retirement Development’s luxurious Eton Park Villas. In a previous interview Greg Christenson was quoted: “The project’s styles to other attractive communities that include communities, which offer optional services such goal is to demonstrate that demand-side servicesMews and infrastructure result smaller Timberstone in northeast RedinDeer, Park as dining, housekeeping, laundry, andapproaches personal to municipal scale and Examples lower costsof than current development and can foster long-term sustainable lifestyles, provide Avenue in Rocky Mountain House, RoyaltoOak in services. these projects includepatterns the homebuyers with dwellings built through energy-efficient, practices that minimize impact to Lacombeconstruction and Whitecourt Downtown in Whitecourt.

Village at Westmount and Glastonbury Village in sustainable west Edmonton. the natural environment.” The pathways throughout the Emerald Hills community to recreational and retail ventures “Wefamiliarity have found baby boomers need is reduce the need for vehicles, increase exercise, and encourage with what neighbours. different from previous generations,” he adds.

“The independent living and assisted living “They want to be more active, more independent, projects are designed to accommodate aging in The many communities Christenson has developed been stimulated a part of creating will bemore an example forso others and have choices we’reto place such as Citadel that Village in St. Albert, which andmore follow the, hopefully,Hospital, near future. striving to meet those needs.” is nextinto Sturgeon and Devonshire

The Name In Active Adult Living

PREVIOUS PAGE: DEVONSHIRE. PHOTOS TOP LEFT CLOCKWISE: GLASTONBURY INTERIOR, BEDFORD VILLAGE, CITADEL MEWS.

These residential buildings provide a range of same community also means people never need amenities such as a beautiful dining room, a family to move away from their family and friends as party room, exercise room, movie theatre, games their housing needs change. room – all designed to allow residents to be active and social.

Christenson Group of Companies also believes The Emerald Hills Urban Village concept focuses on four SuN principles in the in (Sustainable giving backUrban to theNeighbourhood) community and it supports creation of the community of humans and nature.

Striving to achieve and maintain a relationship between nature and As well, by offering Alberta Health Services many local charities and actively promotes humans is the first The secondservices is to endeavour dependencies on nonrenewable resources. The funded care, andprinciple. other supportive such to reduce social awareness of the aging population, as senior specific care, home caresolutions and memory onmanufacture, healthcare, and youth issues andsuch a need third principle is “…‘cradle-to-cradle’ and activities strains in design, consumption that a care for dementia and Alzheimer’s, married for a refocus on principles, values and social substance produced by society does not accumulate in nature.” Lastly, the fourth principle is to “work towards social residents can also age together with pride. responsibility in the collective communities. Greg solutions and activities to allow every person to meet basic needs and achieve their potential in life…” doesn’t just talk about change, he strives to Having urban villages designed with bungalow create communities with family values, healthy These principles hand and in hand with Christenson Development’s Mission Statement whichfor concentrates villas and estatework condos, then optional environment and opportunity the aging on building lasting respect, accountability, networking, quality of life and above all, assisted livingrelationships, and full-caretrust, facilities all communication, within the and youth. sustainability. These are not just words... they are the foundation of a dream that began 30 years ago with a man and his son, Greg Christenson… Christenson Developments… proof that dreams can come true.

For more information about Christenson Developments, For more information about Christenson Developments, visit visit CDLhomes.com CDLhomes.com

CDLhomes.com

At Brookfield Residential, we’re committed to developing communities today and in the future where people love to live, play and work. It’s where you’ll want to belong.

Escape Close to Home

Handcrafted Design to Inspire Your Life In The Orchards, the true beauty is in the details we’ve perfected to make this southeast community truly feel like home.

Community members enjoy parks, fragrant trees, walking paths and a private Residents’ Association featuring a new playground, tobogganing hill, tennis courts and outdoor hockey rink. New K-9 school coming September 2017.

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Edmonton’s only lakeside community located in south Edmonton and the 2015 Excellence in Housing’s Community of the Year winners for two-years in a row.

Lakeside living on your doorstep, great shopping and amenities just around the corner. New K-9 school coming in 2017.

For Every Moment of Your LifE Nestled next to Whitemud Creek Ravine, Chappelle Gardens features everything you need in one inclusive community. Natural wonders are steps away, including an urban village park with community gardens, tree-lined paths, storm pond and exclusive Residents’ Association with a spray park, picnic area, outdoor rink and more! New K-9 school coming in 2017.

Surround Yourself with Nature

Located just minutes from west Edmonton’s finest shopping, recreation centres, schools, golf courses and everyday services via Anthony Henday and Whitemud Drive, this community in the rolling wooded terrain of Wedgewood Creek Ravine makes life as convenient as it is comfortable.

Townhomes

Starting from the $200’s

Brookfield Residential – Lake Summerside, The Orchards, Chappelle Gardens, Edgemont, Paisley (coming 2016) Daytona Homes Master Builder – Edgemont Jayman Modus – Paisley Look Master Builder - Edgemont

Northeast Edmonton has a new exciting community, rich in value and established amenities nearby, welcome to Solstice at McConachie. It’s a friendly place where you get to know your neighbours, kids make friends at the playground and families spend evenings together along one of the nearby nature trails. Your family belongs here.

Duplexes

Starting from the $300’s

Brookfield Residential – Lake Summerside, The Orchards, Paisley, Chappelle Gardens, Edgemont City Homes - Solstice at McConachie, The Terrace at Schonsee Morrison Homes – Solstice at McConachie Sterling Homes – The Terrace at Schonsee

Rear-Laned Homes

Starting from the mid $300’s DISCOVER

DIFFERENCE

Artistic style and creativity come to life in the southwest community of Paisley, where no street looks the same with a mix of traditional and modern architecture.

Residents enjoy innovative art, natural areas, playground and endless amenities.

Brookfield Residential - Lake Summerside, Chappelle Gardens, The Orchards and Edgemont Daytona Homes Master Builder – Lake Summerside, The Orchards, Chappelle Gardens, Paisley Homes by Avi – Chappelle Gardens Innovations by Jayman – Lake Summerside, The Orchards, Paisley Landmark Legacy – The Orchards

Front-Garage Homes

Starting from the $400’s

Discover the Hidden Gem of the Northeast Step into an established community in northeast Edmonton that captures the everyday comforts of home and creates the perfect place for your family to live, play and grow. The Terrace at Schonsee backs onto the Schonsee wetlands, a beautiful backdrop featuring walking paths, recreation space and perfect for those family picnics, cycling, early morning runs or evening strolls.

Coventry Homes – The Terrace at Schonsee, Paisley Daytona Homes Master Builder – Chappelle Gardens, Edgemont Homes by Avi – Lake Summerside, The Orchards, Edgemont, Paisley Jayman MasterBUILT – The Orchards, The Terrace at Schonsee Landmark Homes – Lake Summerside Look Master Builder – Edgemont, Chappelle Gardens Morrison Homes – Chappelle Gardens Pacesetter Homes – Lake Summerside Sterling Homes – The Orchards

Estate Homes

Starting from the mid $500’s Aacropolis Homes - Lake Summerside Canyon Spring Master Builder - Lake Summerside Infiniti Master Builder - Lake Summerside

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G ranville

gets grande R

By Alldritt Land Corporation LP

ver the past six years, Granville has enjoyed a tremendous amount of success in each stage of development with little indication of this slowing down despite a pause in some economic sectors.

In fact, recently released lots in Stage 11 are already 77% sold.

With this incredible popularity, coupled with the convenience of a great location adjacent a new K-9 school, it doesn’t take long to see why Granville is West Edmonton’s premiere neighbourhood.

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This charming Craftsman inspired community takes it up a notch with their estate section, which brings to the community its second enhanced water feature as well as a large park with mature trees and walking trails. “We wanted to create a community that has something for everyone. Residents can buy their first Granville home and then move up or down to a different housing product as their lifestyles change”, says David Benjestorf, Legal Counsel and General Manager of Alldritt Land Corporation. “More importantly, however, we wanted to create a community that would carry on Alldritt’s legacy of excellence, ingenuity, hard work and customer satisfaction.”

The Legacy and Inspiration Stan Alldritt Sr’s vigorous work ethic, ingenuity and distaste for mediocrity continues to inspire the Alldritt Group to this day. The story of how the Alldritt Group began is not only interesting but also inspirational. Born in 1909 in a small town north of Dublin, Ireland, Stan Alldritt Sr. sought to stake his own claim in the new world.

With a sense of adventure and a great work ethic instilled upon him by his family, Stan Sr. came to Canada in the early 1930’s. Upon arrival, Stan Sr. obtained a teaching degree from the University of Saskatchewan, followed thereafter by a degree in Geotechnical Engineering.

He worked for many years in both fields, though as the 1930’s drew to a close, the possibility of war grew ever more real. The Canadian government sent out a decree seeking engineers to be trained to help with the war effort. Jumping at the opportunity to give back to his new found country, Stan Sr. was off to Ontario where he was trained as an Aircraft Engineer. Receiving top marks in his class, Stan Sr. was offered his choice of posts. After settling

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in Edmonton, Stan Sr. worked at the aircraft repair division at the Edmonton Municipal Airport. Damaged aircraft would be sent in crates via ship from the war front to Canada, and then via rail to Edmonton. Once repaired, the planes were then flown back to Europe to rejoin the war effort. Interestingly, the government would hold regular salvage auctions. At such auctions, Stan Sr. would purchase wooden crates that the aircraft parts came in, taking them home and stockpiling the nails and wood in his spare time. In addition, he would scrape the solder from the stainless steel boxes (used to ship aircraft engines) which were obtained from the same auction, selling the lead back to the government to manufacture bullets for the front lines.

With victory abroad nearing, war related aircraft work began to dwindle and the Edmonton based aircraft engineers were encouraged to seek post war opportunities. Knowing that day would come, Stan Sr. had amassed a sizable stockpile of building materials. With that ingenuity, vision and resources, the present day Alldritt Group was born. Beginning with the homes at the NW corner of Stony Plain Road and 124 Street in 1943, and then the adjacent apart-

ments (still standing to this day), the Alldritt Group began providing quality homes in a timely manner to meet the housing shortage that followed WWII. Alldritt Group is still a family run business, currently run by Stan Alldritt Jr. who carries on his father’s legacy of quality and ingenuity.

Over the years, the Alldritt Group has developed or built thousands of residential units in Edmonton and its surrounding areas, which continues to this day, and has further amassed an equally impressive commercial portfolio, which grows with each passing year. With 72 years of experience and knowledge, the Alldritt Group has firmly planted its roots in Edmonton, and Granville has now become a part of that legacy.

Features of Granville Granville has something for everyone. Home options in Granville include front attached and rear detached duplexes, bungalow and two-storey executive duplexes, single family homes and refined estate properties. Last year, Stafford Greens added a 4-storey

concrete and steel condominium to the mix which is presently under construction. Granville has four premiere single family home builders (Alldritt Homes, Bedrock Homes, Crimson Cove Homes and Pacesetter Homes), and three very distinguished estate builders (Kanvi Homes, Parkwood Master Builder, and San Rufo Homes) to choose from. This exciting combination of 7 award winning builders ensures that all new-home buyers are able to find the perfect home to fit their personal tastes and lifestyle needs.

Granville also offers its residents the convenience of a wide variety of amenities at its doorstep which gives homeowners the unique combination of a newly built home coupled with already existing infrastructure and services. These amenities include two recently opened new schools nearby (with another one coming) as well as a new K-9 public school and park site located right in Granville that is scheduled to open in fall of 2017. There are also a variety of recreational and professional service opportunities. In addition, a wide variety of existing retail services including two grocery anchored shopping centers and Edmonton’s newest Costco are walking distance away. “With so much demand in the area, we

are also constructing three new shopping centres in Granville to compliment all that already exists. One of which includes an 8 acre live, work and play site so resident’s will have everything at their fingertips,” says Benjestorf.

Other Granville features include two beautifully manicured water features, two playgrounds, an extensive trail system connecting to adjacent communities, enhanced landscaping and like amenities, and a centrally located 21 acre future school/park site, all designed to encourage an active lifestyle. Ideally located with easy access to the Whitemud and Anthony Henday, and adjacent to undeveloped reserve land, Granville has the benefit of quick City wide access without the negative impacts of noise, debris, power lines and traffic.

With so many great features, it’s easy to see why life is so grand in Granville! For more information, please visit our website at www.mygranville.com.

CH BA AL B E RTA

Edmonton weathering the storm

by JIM RIVAIT JUST LIKE EVERY SNOWFLAKE is unique,

no two housing markets are identical.

That’s sometimes hard to see when a blizzard of housing market news lumps together a lot of individual cities into a “national” market that seems to involve only Toronto and Vancouver. Even when the media focuses on covering Alberta housing news, it often starts and stops with Calgary.

So, here is what’s happening in Edmonton, in case you’re considering a home purchase or just trying to understand our unique local market.

On the construction side, we have the stats for the first 10 months of 2015.

Edmonton started the year with a lot of momentum behind the multi-family sector and that has pushed housing starts way up – almost 30 per cent – to more than 14,600 homes.

Construction of single-family homes has slipped about 11 per cent this year.

To put that in context, it’s important to realize that last year saw the most single-family homes built since 2007.

So we’re down a little when compared to a very strong year.

So far this year, builders in metro Edmonton started work on more than 5,000 homes. Even in October, almost 18 months after oil prices started to fall, foundations were poured for more than 500 new homes.

Canada Mortgage and Housing Corp. now forecasts we’ll finish the year with about 5,900 new single-family homes – almost exactly the same number as 2013 when the Alberta economy was roaring along in high gear.

Next year, CMHC expects the number of single-family homes built will slip five per cent to 5,600 – a drop of just 300 homes from 2015 totals. When Canada’s national housing agency looks ahead to 2017, it expects the totals to edge up to almost the same level as this year.

To sum all this up: 2014 was an unusually busy year for single-family 34 YPNEXTHOME.CA

home construction, and now we’re back to more typical levels. Plus, our economy is getting a very positive jolt this from a near-record year in construction of multi-family homes.

For Alberta, the numbers are also less dramatic than you might think – down seven per cent through October. Todd Hirsch, chief economist for ATB Financial, explained in a recent commentary why new home construction has not dropped sharply along with oil prices.

“The fact that housing starts have pulled back only moderately this year reflects the fact that the market was in a healthy balance before oil prices started to drop,” Hirsch said. “Prior to previous recessions – such as 2008 and 2009 – home builders had put far too many new homes onto the market. When the downturn hit, there was a surplus of unsold homes on the market, so construction pulled back more severely.”

Stability in the housing market may not make for many attention-grabbing headlines, but it should reassure

homeowners and buyers about the resilience of Edmonton’s strong – and unique – economy.

The Canadian Home Builders’ Association - Alberta represents more than 1,500 business members, including new home builders, renovators, developers, trade and supply companies and professional services. Find a local builder at the CHBA Edmonton region website chbaedmonton.ca

Jim Rivait is Chief Executive Officer of CHBA – Alberta. Starting his career working in government, Jim spent the last decade working in the private sector specializing in government relations, advocacy, strategic communications, policy development/ analysis and association management.

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ounded in 2011, Westrich Pacific Corp. was born from a desire to build luxury condominiums that would breathe new life into the Edmonton market and break the mold of traditional condominiums.

The Westrich founders saw a demand for concrete condominiums which would offer superior super structures over a typical wood frame building, as well as unbeatable sound proofing for an overall improved quality of living. Westrich Pacific Corp. also wanted to create homes that would be appealing for their comfortable living spaces, but also offer an aesthetically pleasing exterior. They took their cue from the Vancouver and Toronto markets where stylish glass exteriors, and beautifully modern designs are a among the home buyers must-haves.

combined total of just under 1000 suites. Starting in the city’s southwest, Westrich’s first project was a five storey concrete building with 150 suites. They have since expanded and are now building in Ambleside of Windermere, as well as in the heart of downtown, adjacent to the ICE district. This past fall they launched the sales for two of those towers including their most anticipated, the Encore Tower, which will be the highest residential tower in Edmonton.

Westrich Pacific Corp. credits their success so far to a loyal customer base and also to the hard working capabilities of a close-knit team. They understand it takes great people to make a great company and strive to grow and adapt to continually satisfy the desires of the Edmonton home buyer. Westrich Pacific Corp. has set its sights on continually making every project a place that customers are proud to call home.

Over the course of the company’s five years in Edmonton, they have launched six luxury concrete condo projects with a

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Ultima Condominiums

Signature Condominiums

Completed in 2015, Signature Condominiums has become a landmark in the sky of Edmonton’s southwest. Standing eight and 12 stories high, this beautifully designed building offers a variety of suites in all different shapes and sizes. From a one bedroom at 625 sq. ft., to the largest suite at 2587 sq.ft., there is home for every price point. A few of the more unique options still available at the Signature include the spacious, two storey, townhome style condominiums featuring a double attached garage.

These convenient condominiums allow home buyers to escape the maintenance that comes with owning a house, but still enjoy a private lifestyle. A second unusual style available at Signature Condominiums is the Villa suite. This 1500 sq.ft. condominium features 280 degree views through floor to ceiling windows of a tranquil pond and park setting. To add to the grandeur, each villa comes completely upgraded with the penthouse finishing package as well as a private elevator that opens directly into the suite.

The buildings amenities are also set at a high standard with a 5,000 sq. ft. common use space which includes a fully equipped fitness facility, an expansive lounge/party room as well as 3-storey glass lobby with concierge service available 16 hours a day. Off the south side of the lounge, a spacious patio/BBQ area surrounds an infinity pool with a relaxing view out over a lake.

Signature Tower

Released for sale in September 2015, the Signature Tower is set to be the next tallest building in Windermere at an impressive 16 stories high. From the higher floors, residents will enjoy unobstructed views of Edmonton’s downtown skyline from a remarkable distance. The tower will be a completely cast in place concrete structure, and the tower will be the final phase of Signature Condominiums. True to the Westrich style, the tower will have a sleek modern interior finish with floor-to-ceiling windows at the corners of the building. Every suite is a two bedroom/two bathroom and sizes range from 826 sq. ft. up to 1270 sq. ft.

Residents will enter into a welcoming 2 storey lobby and will have access to a fully equipped fitness facility. Estimated completion is for end of 2018.

Ultima Condominiums

Estimated to be completed in summer 2016, Ultima Signature Tower

Signature Condominiums

Ult Am

Condominiums will be the first residential building available in Edmonton’s brand new ICE District. This 32 storey, all glass structure is an outstanding piece of architecture adding a fresh new look to the heart of downtown. Stylish interiors come standard with high-end finishing materials that include granite countertops, engineered hardwood and porcelain tile flooring, glass backsplash, and stainless steel appliances. Suites are available in one bedroom, two bedrooms and two bedroom plus den. Sizes for the typical floorplans range from 515 sq. ft. up to 1105 sq. ft.

Distinct amenities add to the appeal of the Ultima with a ninth floor amenities space designed for residents to relax in and entertain guests. Features include an outdoor sun lounge with a 10 person hot tub and BBQ area, an indoor lounge with wet bar as well as a fully equipped fitness facility.

Encore Condominiums

Encore Tower

Soon to be Edmonton’s tallest residential tower, the Encore will reach 40 stories high. Unlike a typical square building, the Encore has a footprint that is shaped like a cross allowing every suite to be a corner unit. A stunning all glass exterior offers an abundance of bright, natural light in every suite. Encores typical floor has just five units, all 2 bedroom/2 bathroom suites with sizes ranging from 812 sq. ft. up to 1484 sq. ft. From the 35th floor and up, exclusive penthouses crown the building and range in size from 1294 sq. ft. up to 2786 sq. ft.

On the fourth floor, a relaxing amenities space includes an outdoor sun lounge with private cabanas and wading pool, an indoor lounge with extended eating bar and indoor/outdoor fireplace as well as a fully equipped fitness facility.

Not only is the building itself impressive, but the location is unparallel with City Centre Mall, YMCA, and Landmark Cinemas just across the street. Walk one block north and find yourself in the newly developed ICE District soon to be the home of the Edmonton Oilers as well as a hot spot for festivals and activities. Encore Tower is estimated to be completed in 2020.

Signature Condominiums 780-803-0888 info@signatureambleside.com sigtower@westrichpacific.com Showsuite: Mon-Thur 12-6pm, Sat-Sun 12-5pm

Ultima Amenities

Ultima/Encore 780-803-8777 ultima@westrichpacific.com encore@westrichpacific.com Showsuite: Mon-Thur 12-6pm, Sat 12-5pm

Encore Tower

TR E N D I NG

6 FINANCIAL HOMEBUYING TIPS

P

lanning to buy a home and not sure where to begin?

Maybe it’s your first home, or it’s been a while and you’re ready to move up to a larger property.

Here are six homebuying tips to help you prepare.

38 YPNEXTHOME.CA

b y WA Y N E K A R L

1. GET WITH THE PROGRAMS There are various government programs available to help you buy a home.

Home Buyers’ Plan (HBP): The HBP allows first-time buyers to withdraw up to $25,000 from their RRSP to put toward a down payment on a home. You have up to 15 years to repay the funds.

Continued on page 42

CREATING COMMUNITIES FROM THE GROUND UP

HOMETOWNS FOR PRESENT AND FUTURE

GENERATIONS

Continued from page 38

Prime Minister Justin Trudeau has promised to modernize the program to allow Canadians to dip into their RRSPs to buy a home more than once, including when impacted by life changes such as job relocation, death of a spouse or marital breakdown.

First-Time Home Buyers’ Tax Credit (HBTC): Eligible first-time buyers can apply for the FTHB to help offset the costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes. The credit can provide up to $750 in federal tax relief.

More information on these programs is available at cra.gc.ca 2. SAVE YOUR A-- OFF First-time buyers require a minimum five per cent of the purchase price as a down payment. Using the 2014 figure for the average house price in Canada, $451,000, that would amount to $22,500. To put down 20 per cent and thus avoid high-ratio mortgage insurance, you’d have to save $90,200. Ouch. Oh, it gets better – er, worse. In Toronto, 20 per cent of the average price would be $130,000; in Vancouver, $181,000.

4. BECOME TECH SAVVY Mortgage consumers are becoming very tech savvy. In Canada Mortgage and Housing Corp.’s 2015 Mortgage Consumer Survey, 78 per cent of respondents researched online, with 70 per cent using an mortgage calculator to help determine their payments. And social media is playing a more important role – 20 per cent used sites such as Facebook to learn more, 17 per cent used a mobile device, and of those, 22 per cent used a mortgage related app.

And all of these figures are growing.

5. BEFRIEND A BROKER OR BANKER Like many things in life, it’s all about relationships. And whether you use broker or a banker to secure a mortgage, you’ll likely come to value the relationship. In the same CMHC survey, consumer loyalty strengthened the longer people stayed with their lender. But since we’re talking about money, people are willing to switch lenders

“The HBP allows first-time buyers to withdraw up to $25,000 from their RRSP to put toward a down payment on a home.”

3. PLEAD WITH THE BANK OF MOM AND DAD If your parents are baby boomers who have had the good fortune of building equity over the years as they paid down their mortgage while the value of their property multiplied, well… they may be in a position to help. And many buyers are hitting up the bank of mom and dad. In the last two years, 28 per cent of first-time buyers asked the bank of mom and dad to help finance their purchase; from 2010 to 2014, only 17 per cent did.

42 YPNEXTHOME.CA

to get a better rate and save – a fact which is much more prevalent for bankers than brokers. And because brokers are able to offer products from multiple lenders, as opposed to bankers which offer only the products of their own institution, the market share held by brokers is growing notably, particularly among repeat buyers.

6. RESEARCH, RESEARCH, RESEARCH These days, with prices rising as they are and uncertainty in some markets, thorough research is an absolute must. Everything from your target area, desired housing type, builder or realtor, finances, how much you can afford, who you borrow from and the structure of your mortgage – take your time.

Take months. Don’t rush anything.

Anything.

SLOKKER

turns focus on Edmonton market

BY HEATHER RYAN

a

well-known builder that has 80 years of experience with projects in Europe and North America including several in Calgary, is turning its focus on Edmonton with the introduction of two new multi-family projects.

Slokker started as a family business in 1935 in the Netherlands and as its reputation for creating innovative and leading edge building techniques grew it expanded in Europe, before launching its brand in North America – first in the U.S. in 1979 and then in Canada in 1995.

In 2006, the company expanded to Alberta forming Slokker Canada West in Calgary where it has completed seven highly successful multi-family projects and has five others in the works.

“We’ve had such a great response to our projects in the Calgary area that we decided to explore Edmonton,” says junior project manager Min Ku. “We’re excited to now have two projects in Griesbach and we’ll be launching a third project in St. Albert in spring 2016.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 43

“The first townhome project for Edmonton was JUNO in 2013, which is 70 per cent sold,” he notes.

“Construction is also 70 per cent complete and people started taking possession of their new homes in early 2015.”

Following JUNO’s success, Slokker launched a second townhome project, Neptune, this past October just a block away in the same community.

“We’re experts in building multi-family projects with the main goal to offer affordable homes with quality final products,” Ku says.

“Our homes appeal to a wide range of buyers who desire a maintenance-free lifestyle,” he adds, and want quality construction, great finishings and lasting value.

JUNO & NEPTUNE Located in Griesbach, JUNO consists of 129 stacked and three-storey townhomes, while Neptune consists of 30 townhomes – 26 three-storey and four larger Brownstones that are two-storey designs with a basement and double detached garage.

There are several variations of the two models available in JUNO ranging from 1,048 to 1,387 sq. ft. and offering two or three bedrooms, one to 2.5 bathrooms, upstairs laundry and a lower level den (three-storey townhomes only).

“Once you visit our JUNO showhome, you will be surprised how spacious it is,” Ku says, noting the

interiors present open contemporary living spaces that are well-design with modern touches.

Interiors also feature 9-ft. ceilings on the main living level, numerous windows that include one-inch aluminum blinds, knock-down ceilings and designer kitchen with full-height cabinets, island with eating bar, pantry, full-height tile backsplash, complete appliance package that includes the washer and dryer and balcony.

Buyers can personalize their homes by choosing from several designer colour palettes and standard finishing packages. “We also have a promotion offering granite countertops and we have great range of interior options available from backsplashes to hardwood flooring,” Ku adds.

“We have water front units available in JUNO, and the Water’s Edge units (stacked townhouses) have titled parking, while the three-storey units (Heritage) all have a single garage and a driveway.”

Both projects will be landscaped and there is a park just steps away. As well, the locations are ideal with Northgate Mall, including a major transportation hub, within walking distance.

Residents in both projects also have easy access to 137 Avenue and its vast range of amenities including shops, services, restaurants, grocery stores and more, and it’s an easy drive to downtown – “within 15 minutes, if you take the 97th Avenue,” Ku says.

OAKMONT Oakmont will be located in northeast St. Albert off Belrose Drive and close to St. Albert/Messier Trail. It consists of 124 townhomes featuring two-storeys with basement (Aspenstone), stacked two-storeys (Terrace), and three-storeys with single garage (Heritage).

Townhomes range from 1,048 to 1,400 sq. ft. and offer two or three bedrooms, 1.5 to 2.5 bathrooms, upstairs laundry and a balcony or front porch.

Oakmont will be comprised of the same interiors features as JUNO, and each home will have two parking stalls. As well, residents will have a great view of the valley with a park and pathways nearby.

“It’s only about a five-minute drive from most of the shops on St. Albert Trail and it’s very close to Costco,” Ku says.

For more information on these projects, visit www. slokker-west.ca or www.visitjuno.com or the JUNO showhome #1, 2560 Pegasus Blvd. Edmonton, open Monday to Thursday, 3-8 p.m., and weekends and holidays, noon-5 p.m., or call 780-399-4591.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 45

W H I T E

E AG L E

H O M E S

Luxury

Customized

by Salina Yara Halabi

W

hite Eagle Homes is a family-based company that specializes in building exclusive custom homes in Edmonton and area. Since 1996, this established company has been dedicated to creating unique and high quality custom homes that set White Eagle apart from other typical homebuilders in the market.

White Eagle Homes offers clients a personalized and customized home-building experience. Customers have the opportunity to work directly with the White Eagle

team through the design and planning process, as well as during the construction phase - this ultimately leads to the client’s dream home turning into a reality. Customers are treated like family, and each home is looked at as a unique project that is given White Eagle’s utmost attention. It is the company’s distinctive approach to customer care and their quality building style that have led to White Eagle’s countless referrals and repeat business from happy clients.

CELEBRATING EXCELLENCE 46

With no details overlooked, craftsmanship that is unrivaled, and the use of high-end materials, the classic product that White Eagle Homes provides its clients is luxurious and timeless. Offering innovative designs that reflect the ever-changing lifestyles of today’s families, White Eagle Homes works with clients to ensure their home meets their needs, while showcasing the company’s distinguished style and contemporary European flair.

Since 2005 White Eagle Homes have been nominated for numerous local, provincial and national industry

awards, including the Canadian Home Builders’ Association – Edmonton Region’s SAM Awards – and, have won or been named a finalist every year since then.

One of their most celebrated achievements was winning the sought-after Ralph Scurfield, CHBA - Alberta Builder of the Year Award in both 2011 and 2012. White Eagle Homes has also recently won various single-family home awards at local and provincial levels, and the CHBA - Alberta Small Volume Builder of the Year Award in 2013 & 2015.

4 Time WINNER of Alberta Awards of Excellence Builder of the Year 2011 & 2012 Small Volume Builder of the Year 2013 & 2015

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W H I T E

E AG L E

H O M E S

Visit one of the following showhomes to see the White Eagle quality firsthand.

NORTH EDMONTONSCHONSEE The Emilia 5469 Schonsee Drive N.W. SOUTH EDMONTONALLARD 475 Allard Boulevard Sandstone Model SOUTHWEST EDMONTONWESTPOINTE OF WINDERMERE “Blue Diamond” 5112 Woolsey Link

780-456-5393 Cell 780-497-8998

www.whiteeaglehomes.ca White Eagle is currently building their beautifully designed homes in the following communities: Schonsee, Allard Estates, and Westpoint in Windermere. White Eagle is able to build anywhere in Edmonton and surrounding areas, allowing customers to choose a location that best fits their lifestyle.

For showhome information or to learn more about White Eagle Homes visit their website at whiteeaglehomes.ca.

78 EDMONTON BUILDER AND DEVELOPER ANNUAL 2013

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ALQUINN HOMES

TR E N D I NG

Neighbourhood farmers’ markets booming in Edmonton

by GENE KOSOWAN MUCH OF THE TALK about revitalization in Edmonton focuses on the building of the Rogers Place sports and entertainment arena, as well as the highrises stretching up in the city core. But another form of civic rejuvenation is taking place, literally at a grassroots level – neighbourhood farmers’ markets.

Neighbourhood farmers’ markets are now beginning to dot the municipal map as go-to destinations for locals. With the addition of the 124 Street Grand Market just northwest of downtown, the French Quarter on the south side and another one in Windermere in the city’s southwest corner within the past year, neighbourhood farmers’ markets currently number 12. That’s double what existed three years ago – not too shabby for a city with less than one million residents, considering Toronto — Canada’s largest city — has about 30.

Amy Hayduk, assistant marketing director and events coordinator with the 124 Street Grand Market, located in the Westmount neighbourhood, likes the fact that the movement towards purchasing local foods has fostered the existence of the market where she works.

“As a member of the community, I feel passionate about farmers’ markets, because we have great restaurants and great shops, but there’s not necessarily any place to buy groceries close by that’s walkable,” she says. “That really helps with the neighbourhood’s vitality, especially with having accessibility to local fresh food. It animates the neighbourhood and brings out people who might not otherwise come by.”

Farmers’ markets are nothing new in the Alberta capital. The City Market Downtown has been around since 1903, one year before Edmonton was officially declared a city. With more than 150 vendors serving nearly 30,000 customers every Saturday, the City Market Downtown remains the granddaddy of them all. It’s rivalled only by the Old Strathcona Farmers Market, which opened in 1983 and with 130 vendors, brings in roughly 10,000 people every week.

What is new, however, is that more recent markets don’t have designated facilities and exist in pop-up fashion, either occupying a parking lot at a mall or a barricaded street once a week. Whatever form they take, Wendi Freudenreich, a local realtor, believes the presence of these markets adds to a neighbourhood’s appeal by increasing walk score, a measurement that calculates walkable distances to amenities in the area.

“Markets would substantially increase the desire to be in that neighbourhood based on walk scores,” says Freudenreich.

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Photos by Stephen Sereda

“Markets would also increase a community feel and vibe. That’s a trend in general in eating and shopping, so it appeals to trendier and younger people in neighbourhoods.”

While Freudenreich cautions that some markets may spur complaints about barricaded streets preventing locals from parking their vehicles and increases the potential for noise and litter on resident lawns, Hayduk says organizers do what they can to mitigate these concerns.

“We do try to be respectful and treat the area like it was our backyard,” she says. “Because for some of us, it is!”

Gene Kosowan is a freelance journalist based in Edmonton.

His work has been featured in such publications as Avenue Edmonton, Alberta Venture and the Edmonton Journal.

A Home for Every Stage of Your Life T

O HAVE SUSTAINED SUCCESS AS A HOMEBUILDER,

you really have to understand the market and cater to its changing needs. Pacesetter Homes should know. They were established in 1998 as a division of Winnipeg’s Qualico Homes, and offering homes for myriad needs has been precisely their recipe for continued success.

“At Pacesetter Homes, we believe your home should be a reflection of your dreams, your style and most importantly you,” says Lloyd Dumonceaux, Vice President of Pacesetter Homes. (Dumonceaux was named to his position in 2015, when he took over from Zan Owsley.)

“We’re proudly recognized as an industry leader, because we deliver quality, functional homes that fit today’s lifestyles with a bit of added style and design that our clients have come to expect.”

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“Fill your life with luxury”

Pacesetter’s homes offer a comfortable, homey atmosphere—a more traditional fit and finish—with some modern alternatives. They have five product lines for any budget, and home styles include townhomes, duplexes, laned homes, front-attached garage and their very own Streetscape Series—wide stance front-attached garage homes that are 32’ to 36’ wide.

Pacesetter’s Streetscape Series is a brand new product offering. The homes kick the cookie-cutter style of garagedominated front elevations and instead offer a wider stance for more character and curb appeal.

“In a boom-city like Edmonton, it is important to introduce different product styles to appeal to those who prefer the traditional look of new homes as well as those looking for something more unique,” explains Dumonceaux. The Streetscape models, due to their wider footprint, also offer more unique floor plans. From fourth

bedrooms to lofts and open-to-belows, buyers can take advantage of luxury style in a range of square footages.

They currently have three Streetscape Series showhomes in market today, the Oscar (2,369 sq. ft), Adelyn (2,530 sq. ft), Quinn (1,743 sq. ft), all in the Windermere community of Langdale.

The 3-bedroom, 2.5-bathroom Quinn offers a walkthrough pantry, main floor great room with nook, a large “owners suite” with stand up shower and soaker tub, and a flexible loft. The Oscar has a 1,075 sq. ft main floor with a lifestyle room, large kitchen with flush eating bar, a great room and eating nook. The upstairs is 1,294 sq. ft and has three bedrooms, including an owners suite that’s large enough for two walk-in closets. The Adelyn’s 1,505 sq. ft second floor has three bedrooms and a large bonus room, while the downstairs features an impressive great room.

Along with the new Streetscape Series showhomes,

Pacesetter also has two brand new duplex models with more amenities than many people are used to, including a bonus room, main floor laundry, double attached garage, and fireplace. The 1,591 sq. ft Zachary and 1,551 sq. ft Zoe are larger than most laned homes and definitely set Pacesetter’s duplexes apart.

Pacesetter currently has 50 other showhomes open in 27 communities in Metro Edmonton, communities including Stony Plain, Spruce Grove, Devon, Fort Saskatchewan, Sherwood Park, and Beaumont. That number of active showhomes will jump to 64 by the few months of 2016.

All Pacesetter Homes are built to impress and do, thank to their unique architectural details such as barrel vaults, curved doors and coffered ceilings. As a builder, Pacesetter differentiates itself from the pack by including these extra details in each model built. Regardless of what homestyle is being built, refined elegance and sophistication is

evident in each floor plan. “We work hard to stay fluid and continue to improve on our quality, customer service and product because we believe you are worth it,” exclaims Dumonceaux.

Their showhomes all feature rich colour palettes, gorgeous furniture and subtle design elements that make their homes feel custom, classy and warm. Dumonceaux: “At Pacesetter Homes we want you to love your home. So you can choose from award winning home plans, and then with our design Q team, you can select interior design items and finishing packages that personalize your new home, to create an extension of yourself; so you can enjoy your home for years to come.”

“Over the past several years, we’ve been focused on customer satisfaction. It’s one of our top priorities and it is very important these days for every one of our customers,” Dumonceaux said. “It’s really a driving force.”

To learn more about Pacesetter Homes, to look at their inventory and to find out which Metro Edmonton communities feature Pacesetter Homes, visit yourpacesetter.com

Crystal Creek Homes:

Building homes that reflect today’s buyers

A

ward-winning Crystal Creek Homes has been building in Alberta for over a decade before turning its focus on the Edmonton market and starting up a division in this vibrant city when they had the opportunity to acquire Greenboro Homes in September 2013.

“As part of this acquisition Crystal Creek Homes took on the remaining service and warranty issues that Greenboro had been deficient on,” says Steve Hobbs, Marketing Manager for Crystal Creek Homes. “Since then, our Edmonton division has continued to grow and that is a compliment to the people we have working for the company.

“The transition of Greenboro to Crystal Creek Homes was a challenge due to the outstanding issues that Greenboro had left behind, but that also provided us with the opportunity to prove our commitment

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to the customers, trade partners and developers,” Hobbs says. “Our success in living up to our promise has enabled us to solidify our position in Edmonton, which has and will continue to provide us more opportunities in the future.”

Crystal Creek Homes strives to be the best and has been a winner and/or finalist for regional and national awards for their designs and customers service.

“We pride ourselves on building a quality, energy-efficient home that is designed with today’s buyer in mind,” he adds. “We continually invest time in what today’s growing families are looking for in a home and we take into account what their personal, social and physical lifestyles and incorporate them into our plans.”

The home builder also places an emphasis on customer service and

understands that customer service starts at the first point of contact they have with their clients, which often starts from their first visit to the showhome.

The initial introduction sets the tone for the entire process so at Crystal Creek Homes they focus on providing confidence in the buyer and they specialize in educating their buyers on the process of purchasing a home.

“Buying a house is the biggest investment that a person will make therefore it is important to educate the buyer on not only the buying process, but also the building process and what happens after you move in,” Hobbs explains. Crystal Creek Homes works with their sales team to ensure that they have a comprehensive understanding of the emotional side of a sale and the impact it has on the buyer, as well as the being

able to explain the building process in layman’s terms.”

Crystal Creek Homes builds a wide array of home styles to suit the needs of every family, including: starter homes (duplexes) ranging from 1,300 to 1,700 sq. ft.; single-family starter homes, ranging from 1,600 to 2,200 sq. ft.; move-up homes with front attached garages ranging from 1,900 to 2,600 sq. ft.; and semi-estate homes ranging from 1,900 to 2,600 sq. ft.

“Currently we see a big shift in affordability, therefore we are focussing on the starter market/first-time buyers so our duplex homes are approximately 40 per cent of what we build,” Hobbs notes.

Crystal Creek Homes is completing the last of its Greenboro commitment with 20 quick possession, semi-estate homes in southwest community of Allard that are priced from the $590,000s. These remaining homes are all two-storey designs with landscaping

and some are on walkout lots.

“This is a real turnkey opportunity for buyers,” Hobbs says. “And as a special promotion we’re running a contest where people who purchase one of these final homes can win $250,000.”

In Maple Crest, located in southeast Edmonton, Crystal Creek Homes opened new duplex and move-up showhomes in late 2015. Duplexes start from the $330,000s, while move-up homes are starting from the $420,000s.

They also have move up homes staring from the $490,000s and duplex homes starting from the $330,000s in Laurel in southeast Edmonton. A move-up showhome is open and a duplex showhome is expected to open in mid-2016.

For Aspen Trails in Sherwood Park, Crystal Creek Homes has introduced single-family move up homes with r ear detached garages. “These homes appeal to people who want that extra space for toys, a workshop or a man cave away from the house,” Hobbs says.

These homes start in the $440,000s including the garage.

As for its commitment to the community, Hobbs notes, that as Crystal Creek Homes continues to grow in Edmonton they will become involved in local groups and events. “We currently participate in local charity events and we have supported Canadian speedskater Marsha Hudey for the past two years.

We are excited about being a part of Edmonton and be more engaged with the community as a whole.”

For more information about Crystal Creek Homes, visit the showhomes, open Monday to Thursday, 3-8 p.m., and weekends and holidays, noon-5 p.m., or visit cyrstalcreekhomes.ca.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 57

WINNER

A Vision of Home. All Stages. All Ages.

T

amani Communities has outdone themselves as the developer of Leduc’s premier community Southfork. Their vision of creating one of the “most desirable and exciting neighbourhoods in the country” is coming to fruition with architectural controlled homes surrounded by playgrounds, pocket parks, water features and beautiful landscaping… homes suited for all stages and all ages!

Leduc, a satellite city of 26,000, boasts small town charm with big city amenities and strong economic growth. Gone is the small town that had residents driving to Edmonton for basic needs and wants. Southfork Leduc is now the community of choice for young families!

This incredible community is drawing families in from all areas of the surrounding areas with its well-planned design and multifaceted access. Southfork is number one in permits and sales as young families flock to stake their claim in a Southfork home. The Edmonton International Airport, just minutes away, is proving to be perfect for those who work up north or in the oil sands while choosing to keep their families in Southfork. Several companies fly their staff out from the International to Fort McMurray, Ft. St. John and other provinces.

The Queen Elizabeth Highway runs parallel to Leduc connecting to Edmonton and the Anthony Henday ring road for quick access to Fort Saskatchewan, Sherwood Park and St. Albert. Or take the C-Line Commuter Service to and from Century Park LRT in Edmonton with stops in Nisku.

Families have 12 schools, kindergarten to grade 12, to choose from in the much sought after Black Gold School District and a host of activities to educate and entertain every member regardless of age. A new K-8 school will be opening 2016-17 in Stage 8 of Southfork.

The Leduc Recreation Centre contains aquatic facilities, indoor playground, child care and programs to fit everyone’s interests. Beyond the Centre are organizations for all manner of sports from archery, football, curling, skate board park, gymnastics, ice skating and much more.

Grab your golf clubs, the course is just minutes from Southfork.

The McClab Centre for Performing Arts, seating for 460, hosts music and dance festivals, guest speakers and so much more. The art community has a full palette with theatre, painters, choirs, performing arts and pottery groups just to name a few. Check out the historical society, square dancing, communities in bloom, music festivals or whoop it up at the rodeo! Join boat club at Telford Lake - right in Leduc! Learn how to do boating of all types with lessons and rentals available.

Pack up the kids and picnic basket and wander over to the Southfork’s Super Park! Playground equipment includes swings, slides and other age appropriate structures to keep everyone in giggles and in shape.

Dad will love the gas barbeques and covered patio. The sparkling water falls complement the vast areas of green grass and interconnecting pathways. A perfect park in a perfect neighbourhood…Southfork. Leduc has 68 km of multi-use interconnecting pathways that are maintained year round. These trails make Leduc one of the most ‘walkable’ communities – from neighbourhood to city centre and beyond.

The Leduc Community Hospital offers acute care, transition beds, general and specialized surgery, lab services, diagnostic imaging, rehabilitation, and a 24 hour emergency department. Sleep comfortably knowing Leduc protects its interests and each other with the Night Hawk Community Patrol, RCMP, Enforcement Services, and Crime Stoppers. An integrated fire service also delivers ambulance service, patient transport and the usual fire services. Optometrists, dentists, chiropractors, whatever you need Leduc has it.

Rendering hopes into dreams, town homes are a must see for first time home buyers or those considering downsizing. The spacious, two story, open concept design is only out done by the pricing. These street orientated colonial style town houses in the low 300’s are built by award winning Homes by Avi and Jayman Modus. New Street Towns by Jayman Modus will be opening on Nov. 28 located at 231 & 233 Southfork Drive.

There are exciting opportunities for all with the family friendly pricing of Stage 6 new contracted lot design.

“Although the lots are narrower, they allow for larger houses to be situated on them as the house sits on the property line on one side. These homes will be both front drive single detached homes and laned single detached homes.” Stage 6 show homes are now open.

Tamani Communities prides itself in providing consumers with a variety of choices nested with the knowledge that not only are they receiving what they want but they are living in a value based community built from the outside in with quality first and no detail left to chance.

Tamani Communities has thoughtfully planned each stage of this ‘Contemporary Heritage’ neighbourhood with homes to fit all stages and ages of life, from front attached in high 300’s, laned homes from low 300’s, semi-detached low 300’s to multi-family high 200’s. New home buyers are thrilled to find these innovative homes in Southfork are considerably less in price than comparable ones in Edmonton. Tamani Communities home are built by multi award winners - Homes by Avi, Dolce Vita Homes, Innovations by Jayman, Jayman Modus and Jayman MasterBuilt.

Leduc Southfork is now THE community of choice for young families…

Let that family be yours!

M O RTGAG E AD V I CE

Is the lowest rate always best?

by ALYSSA RICHARD WHILE AT RATEHUB.CA we’re in the

business of comparing mortgage rates, we know there’s more to consider than simply how the interest rate will affect your mortgage payment. Throughout the year, big banks and even smaller lenders will offer incredible promotional rates to bring in new clients, but many of those offers come with serious restrictions and penalties.

Before you jump at the chance to snag the lowest rate, read the fine print in your agreement to see if your new mortgage product comes with any of the following: LOW PREPAYMENT PRIVILEGES Most products give mortgage holders the option to increase their monthly mortgage payment amount once per year and/or make lump-sum payments throughout the year. While many lenders offer 20 per cent/20 per cent prepayment privileges (meaning you could increase your payment by 20 per cent each year and/or make a lump-sum payment of 20 per cent of your original mortgage), some promotional rates only offer 10 per cent/10 per cent. If your goal is to become mortgage debt-free fast, this may not be the right product for you.

COLLATERAL CHARGE If the lowest rate ends up being for a collateral mortgage, you’ll want to carefully consider how taking one on could affect your finances in the future.

Collateral mortgages are readvanceable mortgage products that allow you to borrow money from your home at anytime, without having to refinance (and pay the legal fees to do so). Sounds great, right?

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Unfortunately, they also lock you into staying with that particular lender, even when your mortgage comes up for renewal. To get out of a collateral mortgage, you would need to hire a real estate lawyer (and pay legal fees).

CLOSED MORTGAGE While most mortgages in Canada are closed, some mortgage products’ restrictions are tougher than others. For example, the 1.99 per cent fixed-rate mortgage product one lender offered recently didn’t allow borrowers to prepay, negotiate or refinance their mortgage throughout the three-year term. The only way to break your mortgage in that agreement was to sell your home. Again, if you are someone who wants to pay down your mortgage debt fast or may need to borrow from your home in the future, this may not be the best product for you.

Of course, if your mortgage product comes with the lowest rate on the market and has few restrictions, you should jump at the chance to get it! But if you have any concerns about what’s included in the mortgage agreement, don’t be scared to shop around and find the right mortgage for you – even if it doesn’t come with the absolute lowest rate.

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.

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It’s only a tap away.

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

STA RT SEA RC H I N G N OW!

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Jayman F

or close to 35 years, Jayman BUILT has been helping Edmontonians build their dream homes. The eight-time Builder of the Year and recent winner of a Score-Up Award for Mortgage Brokerage of the Year prides itself on carrying on a tradition of innovation through everything it does.

Jayman strives to offer the highest level of customer satisfaction in many ways, including integrity pricing, effectively communicating the process, integrating new technologies and understanding customers’ needs.

The company’s Fit & Finish™ program provides the highest specifications in the industry, with choices and styles that allow homebuyers to personalize their homes at no extra cost. All of these things, and added services like Jayman Realty, Jayman Financial and a complimentary moving van, give Jayman customers confidence that they are making a great investment in a home.

Jayman is committed to not only building Alberta’s best homes, but also the greenest. Many sustainable features come standard in Jayman’s single

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family homes. They also offer a series of options that have a payback of less than three years and they walk the talk because they have a range of Plus Options delivered at cost, so customers can live a sustainable lifestyle at the most affordable price. As the founding member of BUILT GREEN™, Jayman also constructed the first BUILT GREEN™ home. Sustainable building has always been fundamental to their approach – and BUILT GREEN™ embodies Jayman’s long–time commitment to creating lasting communities.

Jayman BUILT presents a large range of housing styles from condos to single family starter homes, midrange to move up and semi estate. Jayman customers can choose the home that suits their lifestyle and budget in various communities throughout Edmonton and in Sherwood Park and Leduc.

Front attached garage homes ranging from 1,777 sq ft to 2,584 sq ft and are being built in the communities of The Orchards, Allard, McConachie, Secord, The Terrace at Schonsee, villages Desrochers, Summerwood in Sherwood Park and in

Southfork in Leduc.

Laned and semi-detached homes ranging from 1174 sq ft to 1898 sq ft and are being built in the communities of Allard, McConachie, Secord, Summerside, Paisley, villages Desrochers, The Hills of Charlesworth and Southfork in Leduc.

Jayman’s multi-family division, Jayman Modus, also offers more choice in Alberta than any other multi-family builder. The name Modus comes from the term Modus Operandi, which means “way of doing things,” and represents the unique lifestyles that Modus prides itself on building around. Homebuyers can choose from the largest combination of interior options, amenities, models, building styles, communities, price points, and services.

Careen Chrusch, Director of Marketing says Jayman’s five year plans outline three main goals; to become the pinnacle of customer service, obtain operational excellence and be the best place to work.

GIVING BACK TO THE COMMUNITY

JAYMAN BUILT PRESENTS A LARGE RANGE OF HOUSING STYLES FROM CONDOS TO SINGLE FAMILY STARTER HOMES, MID-RANGE TO MOVE UP AND SEMI ESTATE.

We believe a home is only as good as the community it is built in,” Chrusch says. “That’s why Jayman is committed to being a good citizen, supporting the communities in which we operate and our employees live.”

• Provincial Title Sponsor for the Mother’s Day Walk & Run • Provincial Sponsor – MS Walk • Game Sponsor - Edmonton Eskimos • Arthritis Society Sponsorship • Hole Sponsor 7th Annual Kelly Lamrock Memorial Golf Tournament • Rise Up House (Leduc Home for Family Violence) sponsor • Edmonton Down Syndrome sponsor • Hockey Helps the Homeless • Sponsorship of the 2015 National Philanthropy Day – Environment Sector.

WARRANTY AND AFFILIATIONS: Jayman is a member of the Canadian Home Builders Association – Edmonton Region and the Canadian Home Builders Association – Calgary Region.

Jayman BUILT, as a member of the Alberta New Home Warranty program, there is the 1-2-5-10 Coverage with a ten-year warranty on the structure.

Jayman uses web based home information and maintenance system to augment their customer service program. Working with Vancouver-based CONASYS and using their Home Information Packages System, Jayman provides comprehensive post purchase particulars online to better assist their customers in operating and maintaining their new home. Operating manuals and warranty documentation for every product used in the construction of a home and creates a contact directory of all manufacturers, suppliers and installers is provided in a home specific on-line library allowing the homeowner instant web access to all this information.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 65

CUSTOMER SERVICE ISN’T JUST WHAT YOU DO OR SAY, IT’S A CULTURE, AND YOU EITHER LIVE IT OR YOU DON’T. AWARDS: Customer Service isn’t just what you do or say, it’s a culture, and you either live it or you don’t.

At Jayman we’ve worked diligently to create and live this culture every day, and while a recent string of awards helps us to feel accomplished in those efforts, the true feel-good rewards comes from the customers and their feedback.

We elicit this feedback in many ways, after all, every customer has different communication styles and preferences for how they like to give us their feedback.

To accommodate every customer, Jayman uses two services: Avid Ratings, and the Professional Home Builder Institute’s (PHBI) Customer Insights Program.

Jayman BUILT’s commitment to quality and excellence has led to an extensive list of awards including: 2015 PHBI’s Customer Satisfaction award, both at the regional level for Calgary and at a provincial level, and Jayman is also one of just three companies to receive the Avid Benchmark Award. Both awards require a dedication to customer service and represent the top 5% of builders in the Nation. We also had nine individual members of our sales and service teams given Avid awards based on feedback from the customers that they served.

Winner of 8 Builder of the Year Awards for the Calgary SAM Awards Winner of 7 Builder of the Year Awards for Edmonton Awards of Excellence in Housing and 2012 Small Volume Builder of the Year Winner of a Score-Up Award for Mortgage Brokerage of the Year – Jayman Financial Other outstanding accolades over the years include: Top 50 Best Managed Companies – Platinum Member; Venture 100 – Alberta Venture Magazine and PricewaterhouseCoopers; J.D. Power & Associates 2nd place for Overall Customer Satisfaction two times; and Ernst & Young Entrepreneur of the Year Awards – Jay Westman, Prairie Region.

FOR MORE INFORMATION: Showhomes: Jayman has 13 sets of showhomes in Edmonton & Area open for viewing.

Showhome Hours: Monday – Thursday, 2-8 pm Weekends & Holidays, Noon – 5 pm Website: www.jayman.com

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MAT

MATTAMY CREATES PLACES

PEOPLE LOVE TO CALL HOME

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EXPERIENCE MATTAMY’S THOUGHTFUL

DESIGN & FINISH IN EDMONTON

Showhome, Coloniale Estates

Since 1978, Mattamy has built over 70,000 homes in hundreds of communities that people love to live in. Since we settled in Edmonton we’ve implemented every aspect of our experience to ensure we serve you superbly. Our accredited architects and accomplished interior designers obsess over every single home- and floor-plan.

From Townhomes to Detached Designs, each approach begins fresh.

And only after a thorough analysis of what you will find indispensable.

Like more space. Well known for always optimizing interior living spaces, Mattamy also designs for ease-of-passage, plus attractive, open sight lines. In addition, we typically specify larger windows to admit generous quantities of beautiful, natural light.

Still, lasting happiness is confirmed after a family has lived for some time in their home or community. And that’s where Mattamy stands apart. We understand that every stage of the home buying process is crucial for your comfort. And that’s why we’re delighted so many Mattamy homeowners report such a high level of Customer Satisfaction with the sales process, construction, and post-sale experience.

Showhome, Coloniale Estates

Mattamy is pleased to announce that plans are underway to continue our commitment to the Capital Region with new master-planned communities coming soon to Sherwood Park and Southwest Edmonton.

Showhome, Coloniale Estates

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Green Spaces For Kids To Play

Coloniale Estates

Townhome Exterior, Collections At Creekwood

ENJOY AFFORDABLE COUNTRY CLUB LIVING IN CHARMING BEAUMONT Located within a spectacular golf course setting, Colonial Estates is a fully master-planned community with extensive parks, playgrounds, and trails for walking and biking. Secluded for privacy but close to the city, you can choose your style of living in Single Family Homes from 1,480 Sq. Ft. to 2,681 Sq.Ft., and Detached Single-Family Homes with 2- or 3-Car Tandem Garages. As is Mattamy’s practice in the Capital Region, your home includes full yard sodding plus two trees.

In addition, you’ll appreciate the generous 5' sideyards.

Among the most charming downtown areas in the province, Beaumont is one of three completely bilingual communities in Alberta. Its core resembles a historic French Village with unique architecture, wonderful local shops, and fine dining.

All school levels are available within or near the neighbourhood.

With many Quick Possession Homes available, you can enjoy country club living at an affordable price sooner than you may have ever expected. We invite you to visit our Sales Centre today.

SALES CENTRE 274 Reichert Drive, Beaumont, AB, T4X 1Z7 • 780-929-1111

CHOOSE EXCEPTIONAL, LIVABLE VALUE AT THE COLLECTIONS AT CREEKWOOD Mattamy’s new community in The Collections At Creekwood is now open–and offers you exceptional pricing on a limited number of new Townhome Designs. Come take your pick from an assortment of family-friendly, 2-Storey Rear Lane Townhomes.

Designed specifically for our new community, Mattamy has emphasized people over cars, with 2-Car Garages elegantly tucked behind the homes.

Typical of Mattamy in Edmonton, full landscaping is included.

Plus, Mattamy’s considered design also optimizes living spaces.

Useful square footage is maximized and interior layouts are open and spacious. You’ll appreciate special design touches like, 9' Ceilings on the Main Floor, plus 2- and 3-bedroom floor plans to accommodate your family’s needs. Moreover, the Edmonton Public School Board has also announced that a new K-9 school will open across the street from our neighbourhood.

Visit our Sales Centre today to take advantage of our special pricing on a limited number of these new Townhomes.

SALES CENTRE The corner of 141 St. SW and Chappelle Dr. SW • 780-399-5549

FOR UPDATES AND MORE INFORMATION WE INVITE YOU TO REGISTER AT MATTAMYHOMES.COM *All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

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ReidBuilt Homes

REIDBUILT STRIVES TO BUILD HOMES THAT ARE PERFECT FOR EVERY BUYER

T

HIRTY YEARS AGO Art Reid turned a dream of building quality homes into a reality when he purchased and completed his first cap-in-place home.

Today, Art’s vision has grown to where ReidBuilt Homes constructs more than 300 homes a year and has evolved further by creating and developing new communities under Reid Land that offers an innovative mix of housing opportunities where buyers can make a home for their lifetime.

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“The key to our success is in our simplified building process, the variety of housing we offer and our ability to build affordable and quality homes,” says Jeremy Main, ReidBuilt’s Sales and Marketing Manager. “Our ultimate goal when you build with us is exemplary customer service, the most trusted trades in the industry building the best quality homes.”

ReidBuilt Homes range from 1,114 sq. ft. to 3,286 sq. ft., and they strive to build houses that are perfect for each and

every individual buyer. Whether you are a first-time buyer, someone looking to purchase an estate home or anywhere in between, ReidBuilt makes your home your own.

In fact, using their website, you can customize exteriors on four of their homes. For example you can customize shingles, siding, trim, doors and much more.

ReidBuilt clients can also take advantage of ReidBuilt’s innovation, LaunchPad. It’s an online tool that allows clients to monitor the construction of their new home. LaunchPad provides weekly updates as each stage is completed and which are next in line. Once you’ve purchased a ReidBuilt Home, your representative will set up an account for you and send you your access information via email. Then you just simply log in to your account and watch your home being built.

ReidBuilt Homes builds in many communities in the greater Edmonton area. Those communities include Verte

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 71

Homesteader in northeast Edmonton, Creekwood Chappelle in southwest Edmonton, Newcastle in northwest Edmonton, Hawks Ridge in west Edmonton, Rosenthal in west Edmonton, Palisades West in northwest Edmonton, Riverside in St Albert, Jesperdale in Spruce Grove, Silverstone in Stony

Plain, and The Lakes in Morinville.

“In the coming year, we are excited to start developing The Fairways in Stony Plain. It’s right by the recently renovated Stony Plain Golf Course,” says Main.

The Fairways is located just 17 km west of Edmonton and is a quiet and relaxed community that offers a lifestyle with something for everyone.

Main adds: “In 2016, we’re also developing land in the community of Edgemont, south of Rosenthal.”

Edgemont is just steps away from Wedgewood Ravine and the North Saskatchewan River trail system. ReidBuilt will have a condo project and single-family homes in the area.

“We will also be starting to build our duplex product in Jensen Lakes, the first beach destination community of St. Albert.”

ReidBuilt also continues to be a major force in residential real estate. Through Reid Land, it has developed more than a dozen residential communities in Edmonton, Calgary and Red Deer.

To find out more about building with ReidBuilt Homes, visit www.reidbuilthomes.com, call 780-486-3666 or email sales@reidbuilthomes.com 72 YPNEXTHOME.CA

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

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STERLING HOMES is winding up this year on an

exhilarating high! Sterling Homes, as part of Qualico Group of companies, is elated to be the recipient of the 2015 Winner CHBA-Alberta Awards of Excellence – Multi Family builder of the Year and the 2014 National Sam Awards: • Winner - Marketing Award - Print Ad “All Dressed Up” • Finalist - Grand Sam Builder of the Year. These awards celebrate excellence in new homes, innovation, technology and construction techniques, outstanding presentation, as well as, marketing activities across Canada. Sterling Homes has found themselves in the winner’s circle many times over the last ten years.

Success such as this does not come easily but with a strong work ethic, forward thinking and respect for the community.

As a member of the Qualico Group, Sterling Homes has continued to follow and improve upon the values of its

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founder. In 1950, Dr. David Freisen and his wife Katherine, began Qualico in Winnipeg with the building of a few houses - sixty years later this modest business has expanded across Western Canada and the United States. Qualico has offices in Winnipeg, Calgary, Vancouver, and of course, Edmonton.

Sterling Homes (Edmonton) Ltd. has been a popular builder in Edmonton for more than twenty years by building homes not houses and creating some of the finest communities. In providing family friendly pricing and superior follow-up service on all their new homes Sterling receives a multitude of referrals from their clients. Satisfied clients, who not only refer but, in time buy again from Sterling and that speaks volumes.

Sterling’s primary goal has always been to be the very best at what they do, with genuine concern for their customer’s satisfaction with the finished product. Sterling

Homes does not just treat their clients with respect and understanding, they treat their staff, suppliers and trades people with the same sincere consideration. In turn, these same people give their very best and it is this best that has made Sterling Home so sought after As a member of the Qualico Group, Sterling is able to continue to deliver excellent pricing through volume purchasing of materials, trades and land. Their membership in the Alberta New Home Warranty Program and Edmonton Home Builders Association is assurance to new home owners of Sterling’s commitment in protecting the client’s investment. Further, they “offer a ‘10 Year New Home Warranty’ backed with a completion guarantee”.

Their “rating with New Home Warranty is in the “Excellent” category.”

Miles Kohan, vice president of Sterling Homes, credits their success to the Qualico Group’s style of operation that gives the various housing divisions ‘autonomy’ in order to develop products that are suited to specific subdivisions and target markets rather than simply cookie cut.

This autonomy is apparent in the 21 show homes currently operating throughout Edmonton, Stony Plain, Spruce Grove, and Fort Saskatchewan. Sterling Homes has four product lines, single family, duplexes, townhomes

and RPLs. Duplexes targeted to first time home buyers and single family homes that are aimed at first buyers and second move up buyers including high end purchasers.

Kohan stated recently that receiving the 2014 CHBA Alberta Awards Best Multi-family Townhome or Duplex Under $300,000 is particularly exciting as homes under $250,000 on a lot, plus GST equal a selling price of roughly $350,000. This is a popular price point for buyers and with Sterling’s winning plan it is a very positive position for all.

Sterling Homes are built with solid craftsmanship and advanced technology to accommodate family living and busy lifestyles. By listening to potential clients Sterling realized the frustration many felt when viewing the beautifully appointed show homes. What was included and what was not? So, they rectified this concern quite simply by including the most common items clients like to upgrade.

By including the upgrades into the base price Sterling is able to purchase them at a better value giving the consumer a greater net value.

It takes a sincere understanding of people, listening and craftsman skills to create homes that keep generations of clients referring their family and friends. This sincere understanding goes beyond building great neighbourhoods for families, Sterling Homes continues the philanthropy EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 75

www.sterlingedmonton.com For Show Home locations and Hours Contact 780-461-8369 3203 – 93 St. Edmonton • 2014 – CHBA NATIONAL SAM AWARDS WINNER – Marketing Award – Print Ad – “All Dressed Up” FINALIST – Marketing Excellence Award 2014 Awards of FINALIST – Grand SAM Builder of the Year EXCELLENCE in HOUSING

of founder Dr. David Freisen with their involvement in supporting charitable organizations and initiatives such as Moving Out Hunger events and Habitat for Humanity.

Vice President Miles Kohan had the honour of presenting the keys to a family for one such home during Habitat Day in the Capital Region, an experience he has found both rewarding and humbling. Both he and his wife are working to eliminate homelessness in Edmonton through the ’housing first’ approach. Involvement in these volunteer activities builds a strong community that benefits all by creating better neighbourhoods, better business and more importantly better quality living for all.

Location, location, location! Colin Wilson, Sales and Marketing Manager, reminds people to find the area that works best for their lifestyle then choose a home. Consider what your family does daily and choose a neighbourhood that fits these activities. No matter how beautiful the home if it takes you away from things you love or adds to commuting time you will not be happy.

Currently Sterling is pleased to have homes in many fine communities such as Allard, Ambleside South, Cy Becker, Langdale, Laurel Crossing, Manning Village, Newcastle, Orchards, Terrace at Schonsee, Sienna (Ft. Saskatchewan), Glenridding, Springate (Spruce Grove), Tamarack, Walker Lakes, Cavanagh & Crimson in Creekwood Chappelle, and Westerra (Stony Plain).

Whether this a client’s first home, luxury move up or a senior downsizing, Sterling has the home and community designed for maximum enjoyment - warm family atmospheres, convenient amenities, nature walking trails, landscaped park-like settings, beautiful storm lakes and so much more! These communities are rich in detail and value - an absolute ‘must see’ for your next Sterling Home!

With more than 60 years’ experience, countless accolades and awards, competent and dependable with a reputation second to none, Sterling Homes continually strives to exceed customer satisfaction while providing lasting value and unparalleled excellence.

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• 2015 – AWARDS – EXCELLENCE IN HOUSING FINALIST – Best Radio Commercial – “Big Man” FINALIST – Best Direct Mail/Email Promotion – “Orchards Bsmt Dev” FINALIST – Sales Person/Team of the Year – Single Family – Erik Eisen FINALIST – Sales Person/Team of the Year – Multi Family – Faye Boxrud FINALIST – Leadership Award FINALIST – Best Sales & Information Centre – Multi Family – Tamarack Common FINALIST – Best Multi Family Townhouse/Duplex $330,000-$375,000 – Solution – Tamarack Finalist – Best Single Family Bungalow/Bi-level Under $450,000 – Belvedere (Visscher) FINALIST – Best Single Family Under $300,000 – Tyndall – Westerra FINALIST – Best Single Family Under $300,000 – Trista – Tamarack FINALIST – Best Single Family $300,000 to $325,000 – Telquivst – Springate PLATINUM LEVEL VOLUME AWARDS – Erik Eisen SILVER LEVEL VOLUME AWARDS – Vanja Lugonja SILVER LEVEL VOLUME AWARDS – Brett Chartrand SILVER LEVEL VOLUME AWARDS – Mike Gonek • 2015- AVID SERVICE AWARDS • 2015 BEST SALES COUNSELLORS – Inderdeep Singh Hayer • 2015 ALBERTA AWARDS OF EXCELLENCE WINNER – Multi-Family Duplex Under $350,000 – Sahara Allard SH WINNER – Multi-Family Builder of the Year – Qualico Group of Co • 2014 ALBERTA AWARDS OF EXCELLENCE WINNER – Sensation – Under $300,000 – WINNER – Multi Family Builder of the Year ALLARD………………………………………

ALLARD - DUPLEX …………………………

AMBLESIDE SOUTH/GLENRIDDING ………

CAVANAGH - LANED ………………………

CAVANAGH - DUPLEX ………………………

CAVANAGH RPL ……………………………

CRIMSON IN CREEKWOOD CHAPPELLE …

CY BECKER - LANED ………………………

CY BECKER …………………………………

LANGDALE …………………………………

LAUREL CROSSING …………………………

LAUREL CROSSING – DUPLEX ……………

MANNING VILLAGE …………………………

MANNING RPL ………………………………

NEWCASTLE…………………………………

NEWCASTLE – DUPLEX ……………………

ORCHARDS …………………………………

SCHONSEE – DUPLEX ……………………

SIENNA, FT. SASKATCHEWAN ……………

SPRINGATE, SPRUCE GROVE………………

TAMARACK COMMON ………………………

WALKER LAKES STATION …………………

WESTERRA, STONY PLAIN ………………

Westerra SH

780-756-2970 587-520-6181 587-524-8161 587-520-1293 587-520-0545 780-520-1293 587-520-0545 780-705-6829 780-756-1246 780-756-5649 780-760-1160 780-756-9409 587-521-9111 587-521-8803 780-757-9181 780-756-0739 780-757-5308 587-524-2696 780-997-0960 780-962-3212 587-524-8806 780-756-0723 780-963-8905

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TR E N D I NG

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WE SHOOT, WE SCORE! NEW ARENAS BOOST REAL ESTATE VALUES

G

reat news, sports fans.

The common belief that new arenas and sports stadiums are slam-dunk wins for their billionaire owners and millionaire players, but big fat goose eggs for the local economy… Well, that could be dead wrong. A new report not only suggests the opposite, but says such projects actually boost surrounding real estate values.

The one key proviso is that tax increases to help foot the bill can’t be part of the plan.

The Impact of Stadium Construction on Real Estate Values, from the Real Estate Investment Network (REIN),

b y WA Y N E K A R L

explores the affects – positive and negative – new arenas, such as Rogers Place in the new Ice District in Edmonton, have on real estate values.

HIGHLIGHTS OF THE REPORT INCLUDE: • An arena’s positive impact on housing values can be felt most within a five-km radius and has the largest effect when appealing architecture, community plazas, park landscapes, retail, commercial and entertainment spaces, and the stadium’s construction itself are incorporated into its design.

• A negative effect on property values is

felt when the costs of a proposed stadium necessitates the increase of property taxes.

• Homes in neighbourhoods close to new stadiums, on average, have premiums ranging between three and 15 per cent, depending on the different types of housing, parking options and the distance from the facility.

• Housing values increase on average 1.75 per cent for each 10 per cent decrease in distance from a stadium, with the positive price increase being highest for homes closest to the stadiums and decreasing gradually outwards within the five-km radius.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 77

When a stadium is located outside the downtown core, and is not connected to any other economic development activities or urban redevelopment program, residential properties around the facility will still see a positive increase in value.

However, this increase will not be as dramatic as those that are built in, or with nearby accessibility, to the Central Business District.

While proximity to the stadium usually results in the largest price increases, the regular presence of fans may lead to a constant source of noise, incivilities, traffic congestion and a scarcity of parking. These are all factors with the potential to create a price depreciating effect.

The conclusions are somewhat surprising, given previous perceptions that such projects yield little real economic boost, and that a city’s health depends mostly on its economic fundamentals and infrastructure.

“The presence and subsequent impact on the value of infrastructure is quite unrelated to the economic fundamentals, which reign as having the most impact on real estate values in the short, medium and long term,” said Melanie Reuter, REIN’s director of research.

The findings regarding arenas can be likened to the impact of transportation improvements such as LRT stations, she adds. “Think of the infrastructure findings (transportation and arenas) as a micro effect, compared to broader and deeper fundamentals. So, once you choose a place to invest based on strong fundamentals, give yourself an additional lift by investing around an arena or an LRT station.”

In Canada, while hockey may be the number one sport, a project’s positive impact on real estate values is unrelated to the type of sport – or even whether a team is a winner.

“Surprisingly, type of sport and whether a team is winning or losing has little impact on the results,” Reuter says.

More important factors are proximity to downtown (positive), ample parking (poorly planned or non-existent parking can have a negative impact on values) and integration with the surrounding community.

Incorporating mixed and constant uses 78 YPNEXTHOME.CA

laid-out urban design plans, and excellent links to public transportation, REIN says. By creating an entertainment district around the arena, hundreds of local amenities will be available for neighbouring residents.

The list of planned projects for the Ice District is “staggering,” REIN says, with $2.5 billion in downtown development directly connected to Rogers Place.

PROJECTS, ALL OPENING IN 2016, INCLUDE: • The NHL arena, with a capacity of 18,641 for hockey and 20,734 for concerts

“Edmonton appears to have nailed it on all fronts.”

— Reuter – think bars, offices, shops, outdoor spaces – was also key, as was access to good transit.

“Equally important is nearness to the arena,” says Reuter. “Properties within walking distance (one kilometre) saw the biggest price jumps, and the impact diminished the farther out one went, until there was no impact past four kilometres.”

Edmonton’s Rogers Place, future home of the NHL’s Oilers currently under construction and scheduled to open for the 2016-17 season, is a good example of a pro-sports facility with spinoff benefits to the local economy. It is being constructed in the heart of downtown Edmonton, has well

• A community arena, home to the MacEwan University hockey teams, practice facility for the Oilers and junior Oil Kings, and available for community rental • Edmonton Civic Tower – 27-storey tower that will house more than 65 per cent of the City of Edmonton’s downtown employees • Grand Villa Edmonton Casino – 60,000 sq. ft. of world-class gaming, dining and live entertainment • New headquarters for the Oilers Entertainment Group • MacEwan LRT Station, one of three LRT stations within a five-minute walk of the district Other components are slated to open from 2017 to 2020, including more than 1,000 residential units, some of which will be premium condos located atop a four-star hotel.

POMPEI HOMES

FAMILY BUILDERS FOR EDMONTON’S DIVERSE FAMILIES

“We want our homes to be the best they can be... and build what our customers dream.” ong before Sergio Pompei founded Pompei Homes, he already had a strong appreciation for and skills in woodworking. He had learned the fine art of furniture making in his native Italy, and after immigrating to Canada in the early 1960s, he gained experience in all areas of home building.

Armed with his knowledge and experience, he built a home for his family in 1967. A few years later, he built another home to accommodate his growing family. A friend was so impressed that he asked Sergio to build a home for him. Word soon got out, and Sergio ended the year with seven more homes under his belt.

In 1972, Pompei Homes officially opened for business, and today, the second generation of Pompeis is involved in running the family-owned and operated firm. They passionately and proudly carry on the tradition of building quality custom homes in the Edmonton area.

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All in the family. Clockwise from bottom: Sergio Pompei, daughter Anna, & sons Tino & Dario.

While styles and building techniques have changed over the years, one thing hasn’t: Pompei Homes holds true to its core values of honesty, integrity and pride.

“They describe our ethics and morals,” says Dario Pompei, Sergio’s son and general manager of Pompei Homes. “Honesty and integrity are really important because customers need to trust their builder to work as a team. It makes the whole experience much better for everyone.”

And work as team they do. The family is a team of experts - Dario as general manager, Tino as construction manager, and Anna as office manager – and they’re all highly dedicated to the values and work ethics established by their father.

Together they work with the client to build a custom dream home.

Whether it’s a large luxury home or a small mid-range home, a twostorey or a bungalow, traditional style or contemporary, Pompei builds to the vision and needs of their customer.

“Every buyer has different needs,” says Dario. “That’s what we are here to do – fill those needs.”

3D computer aided visualization allows clients to envision their home before it is built. Shown are a floor plan view, and eye-level view (inset).

Being a small volume builder – they build between five to 10 homes annually - allows Pompei to focus on the customer and quickly and efficiently make changes as needed.

One way of making sure the client’s home is exactly what they want is by using state-of-the-art 3D computer-aided visualization technology. Clients are able to design and see their homes unfold in front of their eyes. With full colour renderings, the clients can visualize the layout and see the home from multiple angles, just like they would if the house existed in more than a drawing.

The program also allows the flexibility to experiment with different colours and products right down to how they want the fireplace to be detailed.

“It’s a great tool because our clients can visualize their dream home before it’s built. It’s very detailed and allows us to fine tune,” explains Dario. “It also allows us to see any potential mistakes and rectify them. There are no surprises for the customer.”

Keeping up with technology isn’t limited to the design stage.

Pompei also keeps up with the latest green technology in home building. They search out the green options that are cost effective and add value to the home and the client can choose to incorporate them into the home.

You’ll find homes built by Pompei throughout the Edmonton area including Strathcona County, Sturgeon County and Fort Saskatchewan.

“We build where our clients want to go and where it’s available to us, whether an acreage or city lot,” explains Dario.

Ultimately, they like to build in communities that offer the best value.

Right now Pompei’s show home is located in Tuscany Hills (north of 195 Avenue on 127 Street).

The future for Pompei Homes is to continue doing what they have always done. “We will continue to maintain high quality standards, quality workmanship, and taking pride in our work and being personally involved at all stages,” says Dario. “Whether big or small, we want our homes to be the best they can be.”

VISIT OUR SHOW HOME IN TUSCANY HILLS

Monday - Thursday 3-8pm Weekends & Holidays Noon-5pm FOR MORE INFORMATION

www.pompeihomes.com 780.457.4800

TOP DECORATING MISTAKES…

BY C. MARIE HEBSON

Are you unable to pin point exactly what is wrong with your home?

Constantly trying new things, or so you think your trying something new, to only end up with the same result? Chances are you’ve made one or many of these top 10 decorating mistakes.

A re-design can always make a great impact in how the room feels, and it can be as simple as a change in paint colour, or adding pops of colour with your accessories. The sooner you identify your problem areas, the quicker you can get that designer look you’re after.

BEFORE

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AFTER AFTER

BEFORE

1.

2.

3.

AFTER

Not defining your priorities.

Not setting a budget.

Poor furniture placement.

Asymmetry vs. Symmetry 4. No window treatments/drapery.

5. Furniture that doesn’t compliment each other – flow.

6. Having a cohesive look –harmony from room to room.

7. Ignoring the room’s focal point.

8. Improper use of art work hanging your artwork too high.

9. Ineffective use of accessories – area rug too small for the room.

10. The most common interior design mistake - incorrect lighting.

Shown here are before and after photos from a re-design project we completed. Should you want information on any of these products, don’t hesitate to contact our design studio.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 83

I N S PI RAT I O N

the

SCOOP

Catch up on decor & reno news, inspiration, style and more

by ELISA KROVBLIT

Country NESTING

Country Nesting courtesy of homesense.ca

Sonata Leather Dining Chair $499 crateandbarrel.com

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KitchenAid Copper CLAD Tri-Ply 10-Piece Cookware Set $1,299 kitchenaid.ca

Oxford Credenza $699 cb2.com

PSSST!

Kravitz Designs – yes Lenny Kravitz – has launched a line in partnership with CB2. This mover and shaker is also a style maker! This collaboration will offer 20 pieces. Talk about living like a rockstar!

CB2.com

Move over stainless steel, KitchenAid has a hot new look for the kitchen: matte black. This popular finish has been showing itself from the runway to the highway, and KitchenAid has captured the look for appliances. Their new line offers everything from stand mixers and small appliances to dishwashers, refrigerators and ovens. Besides the hot look, we love that it’s fingerprint resistant! kitchenaid.com

Dyson Cinetic - The DC77. It’s really as tech as it sounds, and this upright vacuum is the only cleaning machine you need. It doesn’t lose suction and it does the job without putting your back to the test. dysoncanada.ca

This is not for the casual cook, but definitely something for the foodie to fawn over. It’s the Grillkota, a fine piece of Scandinavian design. Think of it as an indoor campfire – with all of the exquisite design details and smoky flavour you desire. Adjustable cooking trivets allow for food to be cooked at different temperatures, all at the same time. arcticspas.ca

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 85

TR E N D I NG

Albertans expect to pay $85K in mortgage interest

by WAYNE KARL

IT’S A SCARY QUESTION many

homeowners are afraid to answer: how much will your mortgage interest total over the lifetime of your mortgage? Well, wonder no more – a recent poll from BMO Bank of Montreal has the answer: $60,000.

But that’s the average for Canada. In Alberta, it’s a whopping $85,404.

•

•

•

While the average amount Canadians expect to pay in mortgage interest is $57,938, the figure rises to its highest in Canada for residents in BC at $95,891. Homeowners in Atlantic Canada expect to pay the least, at $35,454 Canadians expect an increase in interest rates over the next five years (60 per cent), with 48 per cent expecting a small increase and 12 per cent a large increase Most Canadian mortgage holders (67 per cent) currently hold a fixed-rate mortgage, sheltering them against any potential upswings

“It’s quite telling of the extended low-rate environment that a sizeable percentage of

respondents [40 per cent] do not expect interest rates to go up in the next five years,” says Sal Guatieri, senior economist, BMO Capital Markets.

“Hopefully, many have not been lulled into thinking that rates will never go up, as they could be tempted into taking on too much debt.”

It’s not surprising that British Columbians are paying the most mortgage interest, since house prices in that province are the highest in the country, he says.

“In any interest rate environment, it’s important that Canadians stress-test their mortgage against a higher rate to ensure they can afford it over the long term,” says Martin Nel, vice-president of personal lending and investment products, BMO Bank of Montreal.

AVERAGE AGE OF MORTGAGE FREEDOM INCHES HIGHER: On average, Canadians expect to become mortgage-free by the age of 59 – up from 58 in the last two years.

One-third (31 per cent) expect to still be making mortgage payments on their 65th birthday.

3 tips to become mortgage-free faster:

1

Think carefully about fixed versus variable: While variable-rate mortgages have been a winning strategy over the long term, fixed-rate mortgages (currently near historic lows) come with the peace of mind of being insulated against rate increases.

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2

Stress-test your mortgage: Gauging the stability of your mortgage by stress testing it against a higher interest rate can help establish a plan to ensure long-term affordability.

3

Understand every step of the homebuying journey: The BMO Home Buyers Guide provides advice and information to guide buyers through the process of financing, choosing and buying a new home. Visit bmo.com for more information.

MONTORIO HOMES:

ADDING CLASSIC CHARM TO CONTEMPORARY CREATIONS

BY SALINA YARA HALABI KNOWN FOR THEIR DISTINCTIVE STYLE AND CRAFTSMANSHIP, Montorio Homes has been offering clients a unique home building experience for over 20 years. The collaborative building process and dedication to offering homes that satisfy a variety of budgets and lifestyles sets Montorio apart from other builders in the industry. Customers are able to personalize their homes to reflect their needs and wants.

Timeless Italian architecture is showcased in Montorio Homes – beautiful masonry, tiles, and modern columns are just a few of the details this home builder offers.

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Building a home with Montorio is unique in that customers are included throughout the entire home building process. Clients are included on framing and electrical home walk-throughs to ensure there are no unwanted surprises and that their expectations are met. This process also allows customers more input on their homes, down to the smallest details. An additional pre-possession finishing check confirms to customers that their Montorio homes are what they envisioned.

The beautiful Martino showhome is located in the stunning development of Trumpeter in Northwest Edmonton.

This model is a true testament to the Montorio Homes’ product. This striking home is nothing short of a masterpiece, filled with beautiful details and incomparable workmanship.

Situated just moments away from Anthony Henday Drive, the Yellowhead, and The Enjoy Centre, Trumpeter’s location is perfect for those who enjoy all the amenities of big city life in a more natural setting with access to walking trails and green spaces.

Upon entering this two-storey home you will find yourself immersed in 2,375 sq. ft of luxury. A spacious foyer leads to a large den, accentuated with hardwood floors and double doors that add privacy while not compromising style. The open concept layout of the main floor is highlighted with 9’-1” ceilings,

neutral 12’X24’ tiles throughout the foyer, kitchen and nook, plus hardwood in the great room. Montorio kitchens are exceptionally designed, with this space showcasing striking design elements and upgraded Whirlpool kitchen appliances. Dark toned cabinetry offers an abundance of cabinet space and complements the white quartz countertops. A large walk-through pantry offers additional storage options, and convenient access from the home’s mudroom and garage. The focal point in the space is a large island with sink and extended eating bar; the island also offers a transitional separation of the open spaces leading to the great room and nook.

The kitchen area is perfect for entertaining, with access to double doors leading to the back patio – an ideal space for get-togethers. Past the kitchen island’s extended eating bar lies the great room, complete with gas fireplace and stone surround on a faux-finished feature wall. An oversized window floods the area with natural light and further enhances the airy feeling of the home. The main floor of the Martino show home also features a half bath that is conveniently tucked away near the entrance from the double garage via the substantial mudroom.

The mudroom in this home provides a plethora of space with its built-in cubbies with custom hanging and shelving space, plus an additional closet.

Modern railings frame the staircase to the second floor, where another spectacular faux finish wall sets off a large chandelier. A bonus room welcomes homeowners to the upper level and separates the master suite from two additional bedrooms. Both spacious and cozy, the bonus room provides enough space for multi-seating options as well as an entertainment unit, creating the perfect family retreat. Tucked to one side of the bonus room are two bedrooms, each with generous closet space and large windows. A full bath adjacent to the two bedrooms includes a full sized tub with shower and double sinks. A large laundry room sits across from the bedrooms, providing the convenience of an additional sink and extra cabinet space. The expansive master suite is located to the rear of the home, overlooking the back yard. The master suite features a large walk-in closet and raised seating area. The ensuite completes this impressive space with double sinks in the vanity, jetted tub with tile surround, and walk-in shower. Full of unique design details and thoughtful extras, Montorio ensures each of its homes offers something special for their customers.

Montorio Homes has established itself as a leading home builder in the Edmonton area by offering clients well-designed floor plans that suit their needs, while ensuring delivery of a quality product. Founder, Vince Di Luigi, has built this company reputation since he expanded from masonry into homebuilding in the 1970s. Since Montorio Homes opened its doors in 1993, their Mediterranean flair and personalized approach to the customer home building experience has set them apart in the industry. Montorio Homes offers a variety of finishing packages and floor plans to begin the home building process.

Montorio Homes’ dedication to providing clients with an unmatched home product is reflected in their commitment to community work. Montorio Homes has made both time and monetary donations to numerous community organizations and has been a proud supporter of the Stollery Children’s Hospital Foundation for many years; Montorio donates the profits from the sales of each of their special “Built With Bear Hands” projects to the Foundation. Montorio is also a proud sponsor for the Frontline Celebrity Golf Classic, the Evan Grykuliak Memorial Society youth soccer tournament, and the Italian Youth Association of Edmonton.

The future for Montorio Homes is symbolized in their signature light posts that flank the front walkways of their homes - timeless style on a bright path. Montorio Homes will “continue to focus on quality, steady growth, and maintaining a competitive foothold in the market”.

To learn more about Montorio Homes, visit their website at montorio.ca. Explore the beautiful Martino model in person by visiting the Trumpeter showhome at 12908 - 207 Street NW, Monday to Thursday 3 to 8 pm or 12 to 5pm on Saturday & Sunday.

I N S PI RAT I O N

How to create

THE PERFECT ENTRANCE to your new home

by JANE LOCKHART

The front entrance of your home is the first chance you have to really convey your personality through design to your houseguests. Use this opportunity to create a space that speaks to your guests, while making them feel comfortable and invited.

DE-CLUTTER! The first step to enhancing your entrance is to remove all clutter. For me, clutter is my arch nemesis! Take this opportunity to remove everything from the area.

Remove all shoes, shoe racks, benches, tables, umbrella holders, magazine racks and wall mounted hooks. This is not to say they won’t be re-introduced to the area, but when starting over in a new area of your home, it is important to start with a fresh palette.

HIDE THE SHOES Once the area is free of clutter, determine what your needs are for this space. If you are lucky, you will have a front hall closet that you will be able to outfit with built-ins or closet accessories so it will meet all of your needs. There are several closet kits making storing shoes, umbrellas, hats and mitts easy, effective and out of sight. For your seasonal accessories, remove these out of the area completely until they are needed for the season. A great option is to fill a space bag with your seasonal ware and then store it in another area of your home.

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PHOTOS BY JOHN HEINEMAN PHOTOGRAPHY (JOHNHEINEMANPHOTOGRAPHY.COM) COURTESY OF SORBARA GROUP OF COMPANIES (SORBARA.COM)

MULTI-PURPOSE FURNITURE If you are living in a smaller space or without large front door closets don’t lose hope! There are so many products on the market that will hold everything and keep it all out of sight. Whatever you buy, make sure it has a lot of hidden storage. There are front door benches that either open up to baskets for storage, or have baskets underneath; these are perfect as they also provide a place to sit when putting on shoes. If there is not enough room for a bench, you can also install a hanging shelf with hooks and hidden baskets. These are great as they provide a lot of storage without taking up any floor space.

ADD COLOUR Once you have brought back what you need to the area, it is time to add colour

and accessories! No matter what the style of you home, it should start at the front door and continue through, creating unity.

Add pops of your accent colour throughout your front entrance in the form of candles, a throw pillow on the bench, and art on the walls. Choose something that will speak to your visitors, as this is the first impression they will have of your home.

AROUSE THE SENSES Scent is the strongest sense tied to memory, and when someone enters your home, it is the perfect time to arouse their senses. Add a soft and welcoming scent through candles or oils at or near the front entrance. Next, add textiles in a variety of textures, starting with a carpet at the entrance. Lastly, marvel their sight with the beauty of your new space.

No matter what you choose, follow these simple rules and the front entrance of your new space will leave your guests wanting more!

Jane Lockhart is founder and principal designer of Jane Lockhart Interior Design.

She was creative director and host of W Network’s top-ranked show, Colour Confidential, and has a Canadian-built furniture collection, Jane by Jane Lockhart,

by Statum Designs. Visit online at janelockhart.com EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 91

next grad.

next resume.

next offer.

next job.

next commute.

When one thing, leads to another home.

Discover all your possibilities at

H O M E B U YE R S ’ R E S O U R C E

HOMEBUYERS’ RESOURCE SECTION

YOU LOVE THE HOME,

SEE WHAT YOU CAN AFFORD! ›› Calculate your mortgage payments using the mortgage payment calculation chart ›› Mortgage management tips and answers to common mortgage questions

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Calculate your mortgage payments interest rate

amortization period

chart figure

mortgage amount ÷ 1,000

monthly payment

EXAMPLE: 5%

25 YEARS

5.82

125 (mortgage amount $125,000)

$

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

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

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.

04 Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)

05 Multiply this figure by the amount you need to borrow.

Divide by 1,000.

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

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 home or condo.

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.

EDMONTON BUILDER AND DEVELOPER ANNUAL 2016 95

Mortgage management

Mortgage Q&A

» Calculate

What is the difference between conventional and high-ratio mortgages? A conventional mortgage is a

in advance how much home you can afford. Mortgage professionals use a few

variables to determine the maximum mortgage you can afford: your household income, your down payment and your debt payments including your new planned mortgage along with major related expenses such as property taxes and heating. » Consider

getting a smaller mortgage than the maximum amount you can afford. Your

future financial picture may not be the same as it is today. By taking on a smaller mortgage than the maximum amount you can afford, you will gain the flexibility and peace of mind to manage your other obligations today and deal with any unforeseen events that might occur in the future. » Evaluate

the impact rising interest rates could have on your monthly payment. For

many homeowners, a rise in interest rates could have a significant impact on their housing costs.

For example, if you are renewing a mortgage of $250,000, an increase of just two per cent in the interest rate could cost you around $300 extra each month. Evaluating the impact of future interest rate increases today could help you avoid potential financial difficulties tomorrow.

» Become

mortgage-free faster by reducing your amortization period. This will increase

your monthly payments, but will also save you money in interest over the life of your mortgage, and make your family mortgage-free sooner.

Choosing an accelerated payment option (equivalent to one extra payment per year), making lump-sum payments or increasing your regular payment amount all contribute to reducing your amortization period.

mortgage loan up 80 per cent of the lending value of the property with a minimum downpayment of 20 per cent. If your downpayment is less than 20 per cent of the purchase price, however, you will typically need a high-ratio mortgage.

High-ratio mortgages normally have to be insured (by CMHC, for example) against payment default.

What are fixed, variable or adjustable interest rates? A fixed rate is locked-in for the entire term of the

mortgage. With a variable rate, the payments remain the same each month, but the interest rate fluctuates based on market conditions. For adjustable-rate mortgages, both the interest rate and the mortgage payments vary based on market conditions. Talk to your mortgage professional to find out which option is right for you, and be sure to evaluate the impact of an increasing interest rate on your monthly payment.

Should I choose an open or closed mortgage?

With a closed mortgage, you pay the same amount each month for the entire term of the mortgage. Some flexibility to repay principal through lump-sum payments is allowed.

Closed mortgages can be a good choice if you want a fixed payment schedule, and you don’t plan on moving or refinancing before the end of the term. An open mortgage allows you to make a lump-sum payment at any time. This type of mortgage can be paid off prior to maturity without penalty. An open mortgage can be a good choice if you’re planning to sell your home in the near future, or if you want the flexibility to make large lump-sum payments. An open mortgage generally carries a higher interest rate.

What about the term, amortization and payment schedule? The term is the length of time (usually from six

months to 10 years) that the interest rate and other conditions of your mortgage will be in effect. Amortization is the period of time (most first-time homebuyers choose the 25-year amortization) over which your entire mortgage will be repaid.

Lastly, the payment schedule sets out how frequently you will make payments on your mortgage – usually either monthly, bi-weekly or weekly. Accelerated payments are also an option. These are available for weekly and bi-weekly payment schedules and are generally equivalent to one extra monthly payment per year. With accelerated payments the homeowner is able to pay off his/her mortgage faster while decreasing the overall interest cost.

Courtesy of Canada Mortgage and Housing Corp. For more information, visit cmhc.ca or call 1.800.668.2642.

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H O M E B U YE R S ’ R E S O U R C E

NEW HOME & CONDO CHECKLIST When shopping for your dream home or condo, carry this list with you and take notes to help you remember what you saw, and where!

HOME/CONDO #1

HOME/CONDO #2

HOME/CONDO #3

HOME/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:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

SQ. Footage:

SQ. Footage:

SQ. Footage:

SQ. Footage:

# 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:

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I N S PI RAT I O N

Talking trends with

TOMMY SMYTHE

by SALINA YARA HALABI

When it comes to home decor trends, Tommy Smythe is the dream consultant. His illustrious sense of style and distinctive approach to design makes Tommy a true guru in the creation of unique yet harmonious spaces. We chatted with Tommy to get his take on the hottest home trends of the moment.

KITCHEN Lately we’ve been noticing a trend toward furniture in the kitchen. Built in cabinetry isn’t altogether gone by any means but designers have been adding tables, antique shelving, consoles, butcher blocks and various creative alternatives to the all-built in look. This is a look that’s extremely well suited to the casual, assembled look of recent years. Think Brooklyn hipster.

GREAT ROOM Family rooms are getting formal! Crystal chandeliers, fine antiques and blue chip artwork have been creeping into our most comfy, casual rooms. I attribute this to the collective realization that we spend all of our time in the family room. If we’re there a lot, why not enjoy a few of our better pieces? It’s nice to spend time with our splurge items instead of relegating them to a seldom used space reserved for visitors and special occasion. Besides, at my house an evening in with Netflix is a special occasion. Fire up the chandelier!

MASTER BEDROOM The principal bedroom is getting a tech-savvy makeover these days. More and more, we’re discussing pre-wiring the main bedroom for flat screens, surround sound, layered lighting and even in-wall speakers. It’s the information age and we don’t want to miss a thing – even where the magic happens!

ENSUITE BATH In the ensuite we’re getting down to brass taps! The warm golden hued metal of the moment has made the trip from the living room and kitchen to the principal bath. The chrome and

nickel age has given way to a softer more easy-on-the-eye metallic tone. Proceed with caution though – the bright, shiny version can look... well, brassy. Instead, opt for a brushed or matte version or an authentic unlacquered finish for a more on-trend result.

OUTDOOR LIVING Outdoor living is all about the mix. We seem to be over the look of garden sets or suites of furniture. Opting instead for a more modern and sophisticated mix of new items and antique or vintage modern finds. We’ve been doing it inside for years… why not apply the same model to our outdoor living room? There’s magic in the mix – and if you’re patient and tenacious, you can uncover a bargain or two at the local flea or antiques market.

Want more advice from Tommy? You can catch him on Sarah’s House, Sarah’s Cottage and Sarah 101 on HGTV.

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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.

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