Calgary New Condo Guide - Jul 25, 2014

INSIDE THIS ISSUE

WELCOME THE NE W YEAR WITH A NE W ATTITUDE

MAKING SENSE OF MORTGAGE TERMS

A BEGINNER’S GUIDE TO ARRANGING A MORTGAGE

Jan 6 - Feb 3, 2012 Volume 20 Issue 01Calgary EditionJuly 25 - Aug 22, 2014 Volume 17 Issue 08

INSIDE THIS ISSUE

HOW TO IDENTIFY GOOD (AND BAD) HOME BUILDERS

ALBERTA’S BOOMING RESIDENTIAL CONSTRUCTION INDUSTRY

HOUSING STARTS CLIMB IN 2014

Building One is sold out, and only a few units remain in Building Two. With Buildings Three and Four selling fast, we’re excited to announce the release of Building 5. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside locations.

790 - 1125 SQ. FT. ONE BEDROOMS FROM THE LOW $300S

1220 - 1695 SQ. FT. TWO BEDROOMS FROM THE LOW $500S

Presentation Gallery - 350 Quarry Park Blvd SE Mon. to Thur. - Noon to 8pm • Fri - Closed • Sat & Sun - Noon to 5pm

remingtoncorp.com • 403.930.6900

FINAL PHASE NOW RELEASED

2013

CHBA - Calgary Region

Sales Centre Hours: Mon-Thur: 2 pm-8 pm

Sat, Sun + Holidays: Noon-5 pm

Closed FridaysCONDOS + TOWNS

Built for real life.CarDelCONDOS.COm

2 bdrM CoNdoS

$239,900+ GSTFroM

*Prices subject to change without notice. Subject to availability.

- 1+2 bedrooms available up to 1,038 sq ft- 7 condo floorplans- New 897 sq ft plan

175 Panatella Hill NW | 403.241.8975

(Pre-selling from Cranston Place)

BuilDiNg 2 NOW SelliNg

regiSTer TODaY!302 Cranston rd SE

403.457.2670

Large 2 bdrm condoS

$241,900+ GST

FroM oNLY

3 bdrm ToWnHomeSWITH garage

1 + 2 bdrm condoScHooSe From 12

FLoorPLanS

Visit cardelcondos.com for all our current and upcoming projects

regiSTer TODaY!

Pre-selling from Panorama West

WalK TO eVerYTHiNg BaCKS ONTO ParK

BuilDiNg 2 NOW SelliNg

4 SHoW SuiTESNoW oPEN

Rendering is artist’s concept only. Subject to change without notice.

COmiNg SOON COmiNg SOON

Make your move with Cardel Lifestyles CALGArY’S bEST CoNdo + ToWNHoME VALuE

CL-CMP-1799_CONDO GUIDE_7.5x10.5_AUG2014.indd 1 2014-07-10 1:15 PM

03

The developer reserves the right to make changes contained herein without notice. Some conditions apply, please call a Bridgeland Crossings sales representative for details. This is not an offering for sale.

PRESENTATION CENTRE 824 1ST Avenue NE, CalgaryOpen Daily 12-6pm, Closed Fridays

Memorial Dr. NE

1st Ave. NE

7A S

t. N

E

9th

St. N

E

Calgary Zoo

PRESENTATIONCENTRE

BIG IN BRIDGELAND

B R I D G E L A N D CROSSINGS.COM

1, 2 & 3 BEDROOM HOMES FROM $314,900

403.269.2805

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BIG HomesBIG Kitchens

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04

INNER CITY

05

INNER CITY

EMB 8157 Embassy_Evolution Evolution_Evolution_GardenCourtyard_NewCondoGuide_JulyIssue.ai

17.06.14

16.06.14F LR/SF

DOCKET # PROJECT FILE NAME

SIZEPROOF

INITIAL SETUP DESKTOP ARTIST

NOTES

SIGNATURE

C M Y K

OK as is

OK with changes

Supply new proof with changesMaterial deadline - Wed, June 18, 2014 by 12 pmRun Date: Friday, June 27, 2014PUBLICATION: NEW CONDO GUIDE - Calgary

Size: 7.5” x 10.5” + .25” bleedLive: 6.75” x 9.75”

d . m . y

d . m . y

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INNER CITY

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newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 07

“Let me get that for you.”

This is not an offering for sale. Such offering can only be made with a disclosure statement. E.& O.E.

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table of contents

010 editor’s note

columnists

040 contemplating condominiums Who owns my deck and parking stall? by linda palfi

042 Home sweet Home Lessons learned, the easy way by lydia Mcnutt

condo features 011 cover story

Avi Urban launches Canoe in Auburn Bay by heather ryan

036 condo profile Battistella launching LIDO in Kensington by heather ryan

July 25 – August 22, 2014

volume 17 issue 08

Avi Urban launches CAnoe in

AUbUrn bAy

11

ColUmns, news &

feAtUres

Homebuyers’ Help 016 in tHe news

Brookfield Residential unveils its four new Muskoka showhomes in the community of Auburn Bay

020 industry news Alberta residential construction generates $17.9B investment

028 in tHe news Canadian home sales up, hit highest level since March 2010

024 Hot topic Eight easy steps to identifying good home builders

030 Homebuyers’ Help The value of a realtor when buying a new condo by peter ng

038 cmHc report Alberta housing starts climb in first half of 2014

054 condo buyers’ cHecklist

055 Homebuyers’ resource section

058 indeX

project location maps

015 Southeast Map 019 Southwest Map023 Satellite Communities027 Northwest Map035 Inner City 053 Northeast Map

president, Wall2Wall media

Jacqueline Hilleditor-in-cHief / director of content

Susan Leggedirector of sales, national

Josh Heppnersenior sales manager, Western canada

Edwin Rizarriart director

Daiana Garayeditor

Lydia McNuttcontributing editors

Sara Duck Wayne Karl Elisa Krovblitdesign editor

Yanic Simard

media consultant

Natalie Houghton 587.226.1313 like us on facebook:

search: calgarynewcondoguide

production manager

Bala Gnanapandithan production co-ordinator

Greg Van Sluytmangraphic designers

Viosa Barileva, Caroline Wassef

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EDITOR’S NOTE

SMALL, SWEET AND SMART!

LYDIA MCNUTTEDITOR

Wall2Wall [email protected]

Follow me on Twitter at Twitter.com/LydiasTweets

SUSAN LEGGEEDITOR-IN-CHIEF

Wall2Wall [email protected]

Follow me on Twitter at Twitter.com/SusanLegge

Like us on Facebook Search: Condo Guide

You’ve agreed that a new condo is the way to go and you’re making headway, but you still have another big decision to make – choosing your home builder. It pays to check the reputation of the builder/developer before you sign on the dotted line.

Start by finding out how long the company has been in business. Ask a sales representative or visit the company’s website.

Next, find out if previous purchasers are happy with their homes. Drive around an existing community built by the company and talk to anyone you run into during your tour.

Naturally, you should spend some time visiting several different sales offices and show suites. Get a feel for each company and the staff employed there. Ask a lot of questions and expect to be treated with consideration and respect. No question is too “dumb.”

Think twice about any development where the salespeople push you to make a decision you’re not ready for, or where they are not willing to provide you the information you request. There are many other builders and salespeople out there who take pride on putting the customer first.

When you do find the right home and the right builder, making that big decision will be a whole lot easier and more enjoyable.

BEST BUILDER IN THE BUNCH

If you’re condo hunting in the big city, you’ve probably come across some small but sweet spaces you’d love to call “home.” While the micro condo trend is nothing new to cities like Hong Kong and New York, small-space living is catching on in a big way, with new compact suite designs that are making leaps and bounds in terms of style, and lifestyle. The more of these mini dwellings you tour, the more you’ll realize that it’s not always the size that matters, but how you use it.

Home builders and developers incorporate efficient layouts that make the most of every inch. Built-in shelving and storage systems, clever kitchens and open floor plans deliver fashion and function. Add to this modern innovations like dual- and even triple-purpose furnishings, and a 500-sq.-ft. suite all of a sudden offers room to spare. Interior designer and

Here are some tips on how you can live large in a small space:

›› Vertical storage: You might think that condos offer little in the way of storage space, but look up! Line the walls with shelves to bring a practical storage solution and visual flair to your small space.

›› Light & bright: Bright colours amplify natural light, creating the illusion of more space.

›› Double dose: A large mirror, strategically placed near a window, will visually double the size of the space, double the natural light, and double the views!

10 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

cover story

// By HeatHer ryan

11

Avi UrbAn lAUnches

cAnoe in AUbUrn bAy

condo Buyers wHo dream of living in a lake community witH a wide

range of amenities at their doorstep will be thrilled to discover that the dream can come true with Avi Urban’s newest condo development in southeast Calgary.

Located in highly sought after Auburn Bay, Avi Urban, the multi-family division of Homes by Avi, is crafting the aptly named Canoe featuring 158 apartment-style condos in a four-storey U-shaped building that offers quality, space and value.

“We’re really pleased to launch Canoe,” says sales and marketing manager Chris Pollen. “Being located in the lake community of Auburn Bay means our homeowners will have lake access that they can enjoy throughout the year, as well as access to parks and walkways throughout the community. It’s also close to the southeast hospital and Seton’s urban district, and a future retail plaza and LRT station sit on both sides of the development, situating homeowners at Canoe in walking distance of every necessity,” Pollen says.

Homeowners have nine unique floor plan options with tons of variations to choose from, so they can pick the perfect space to suit their needs. The floor plans range from 620 to 1,300 sq. ft. and come in studio, one- and two-bedroom layouts.

Canoe has been designed as a perfect fit for Auburn Bay, featuring open-concept designs with finishes that are anything but standard, and titled parking in the underground parkade.

“Canoe is ideal for first-time buyers because of the great

interiors are well-appointed with features like extended-height flat-panel cabinetry, and modern Moen fixtures and vessel sinks, plus buyers can personalize their homes by choosing from among fresh mix-and-match interior selections and options like built-in cabinetry

standard specifications, such as the nine-ft. ceilings and oversized and wrap-around balconies, and the accessible price point,” he adds.

Interiors are well-appointed with features like extended-height flat-panel cabinetry, and modern Moen fixtures and vessel sinks, plus buyers can personalize their homes by choosing from among fresh mix-and-match interior selections and options like built-in cabinetry.

As a reflection of Auburn Bay’s cottage-like feel, Canoe’s exterior presents authentic East Coast-inspired architecture and coastal elevations with James Hardie siding in seaside colours.

“It will also have varied elevations for movement in façade, and interesting exteriors. Stylish additions, like a stunning turret and porte cochere, that will blend seamlessly with the community.” Pollen says.

Avi Urban will also develop beautiful landscaping for Canoe

12 NEW CoNdo GuidE | Volume 17 issue 08 | newcondoguide.com newcondoguide.com | Volume 17 issue 08 | NEW CoNdo GuidE 13

that will include a lake country inspired courtyard with a custom fire pit, an open marketplace feel at the entrance to community, and hundreds of trees will surround connective pathways that allow residents to walk through the development to the future LRT station and convenient retail plaza next door.

“Residents will also enjoy having quick access to Seton urban district for restaurants, banks, grocery stores, and tons of other amenities right outside their front door,” Pollen says.

Residents will find it’s a short drive down 52nd Street to the 130th Avenue shopping district, McKenzie Towne High Street for even more amenities, and there is easy access to both Stoney Trail and Deerfoot Trail for commuting to points across the city and heading out of town.

The Canoe sales centre is located at 25 Auburn Meadows Ave. S.E. Hours are Monday to Thursday from 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m. More information on Canoe in Auburn Bay can be found by visiting online at Aviurban.com/Canoe.

12 NEW CoNdo GuidE | Volume 17 issue 08 | newcondoguide.com newcondoguide.com | Volume 17 issue 08 | NEW CoNdo GuidE 13

remingtoncorp.com403.930.6900

Quarry Park’s latest masterpiece offers one, two and three bedroom residences with a long list ofoutstanding specifications inside and out – all in a stunning riverside location. Step into the good life

today at the Gates in Quarry Park, Calgary’s most diverse community.

770 SQ. FT. ONE BEDROOM + DEN

FROM THE $290s1020 – 1315 SQ. FT. TWO & THREE

BEDROOMS FROM THE $360S

PRESENTATION GALLERY 350 Quarry Park Blvd SE

Mon to Thur - Noon to 8pmFri - Closed

Sat & Sun - Noon to 5pm

NOW SELLING!

14

SOUTHEAST

SOUTHEAST COMMUNITIES10 CANOE

BY AVI URBAN Coming Soon 25 Auburn Meadows Ave SE

11 CHALETS IN COPPERFIELD BY SABAL HOMES 1797 Copperfield Blvd SE

12 EBONY BY JAYMAN MODUS 211 Mahogany Way

13 MOSAIC CRANSTON BY BROOKFIELD HOMES 206 Cranford Drive SE

14 BOULEVARD TOWNES BY BIRCHWOOD 116 Quarry Park Way SE

16 AUBURN BAY BY STONECROFT Corner of Seton Blvd and Auburn Bay Link SE

17 MOSAIC MIRAGE BY BROOKFIELD HOMES 347 MacKenzie Towne Gate

18 THE GATES BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE

19 CHAMPAGNE BY REMINGTON DEVELOPMENTCORPORATION Quarry Park Blvd SE remingtoncorp.com

20 CRANSTON PLACE BY CARDEL LIFESTYLES 302 Cranston Road SE

22 MAHOGANY STREET TOWNS BY HOMES BY AVI 13 Marine Dr SE

23 SYMMETRY AND HARMONY BY STONECROFT 121 Copperpond Common SE

01 CRANSTON RIDGE BY CARDEL LIFESTYLES Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/cranston-ridge

02 COPPERFIELD PARK BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 MUSKOKA BY BROOKFIELD HOMES 65 Auburn Meadows Way

04 MOSAIC LAKESIDE AUBURN BAY BY BROOKFIELD HOMES 27 Auburn Bay Link SE

05 LEGACY STREET TOWNS BY HOMES BY AVI Coming Soon to the corner of 210 Ave. and Legacy Blvd.

06 ZEN BY AVALON MASTER BUILDER 82 Auburn Bay Link SE

08 MUSKOKA BY BROOKFIELD HOMES 27 Auburn Bay Link SE

09 BRISTOL TOWNHOMES BY BIRCHWOOD NOW SELLING 232 Quarry Park Blvd. SE

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NOSEHILLPARK

FISH CREEK PARK

CALGARYINTERNATIONAL

AIRPORTI

CROWCHILD TRAIL

JOHN LAURIE BLVD.

SHAG

ANNA

PI TR

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DEER

FOOT T

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DEERFOOT TRAIL

BOW BOTTOM TRAIL

CENT

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ONTO

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14 S

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MCKNIGHT BLVD.

MEMORIAL DRIVEMEMORIAL DRIVE

FALC

ONRID

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GLENMORE TRAIL

52 S

TREE

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52 S

TREE

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BARL

OW TR

AIL

Mac

LEOD

TRAI

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MacLEOD TRAIL

ANDERSON ROAD

MARQUIS OF LORNE TRAIL

JAMES M

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SOUTHLAND DRIVE

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BLAC

KFOO

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SHAWNESSYBLVD.

GLENMORERESERVOIR

COUNTRY HILLS BLVD.

STONEY TRAIL

MET

IS TR

AIL

COUNTRY HILLS BLVD.

SADDLETREE DR.

80 Ave

64 Ave64 Ave

32 Ave

17 Ave17 Ave

16 AVENUE16 AVENUE

68 S

TREE

T

52 S

TREE

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36 S

TREE

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114 AVE SE

SETON BLVD.

84 S

TREE

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CHAPARRAL

NEW BRIGHTON

AUBURN BAY

MAHOGANY

COPPERFIELD

CRANSTON

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COPPERFIELD PARK IILOVE IT. LIVE IT. AFFORD IT.

www.copperfieldpark.com 403.723.0094

CONDOS* FROM THE $130’S +GST*Titled parking stall included.

In The news

BrookfIeld resIdenTIal Is

ThrIlled To showcase ITs

four new Muskoka

TownhoMes in the award winning community of Auburn Bay, on Saturday, August 9th, 2014.

“It’s an incredible model lineup that reflects the community and will appeal to so many diverse lifestyles,” says Kelly Halliday, Sales and Marketing Manager with Brookfield Residential.

Inspired by the cottage country lifestyle of Auburn Bay, Muskoka Townhomes offer customers a choice of nine floorplans, each with a distinctive look and feel, to fit their lifestyle and needs. The Indigo however, is the showstopper amongst the beautifully crafted homes with its modern cottage design concept, but with a ‘Canadiana’ twist.

“It has the charm and ambiance that you would find in the beautiful lake district of Muskoka in Ontario mixed with the down-to-earth functionality needed in a

family home,” explains Halliday. “Details such as the warm, red accents throughout the home, the Hudson Bay blankets and wood panelled feature wall, to even a hockey themed child’s bedroom; together they give this home its Canadian-inspired décor.”

Starting from the mid $200’s before GST, this 106 home development is the third multi-family development for Brookfield Residential in the four season lake community.

“A lot of our buyers are attracted by the lifestyle this 43-acre lake community offers, with its added appeal of living near the new Seton Urban District and the South Calgary Health Campus,” adds Halliday. “Homebuyers can experience cottage lifestyle with all the convenience of city living.”

The Indigo, Crimson, Ruby and Ivory are four of nine floorplans available at Muskoka, ranging in size from 720 sq.ft. to upwards of 1,400 plus sq.ft.

For more information on Muskoka Townhomes by Brookfield Residential, please visit www.LiveBrookfield.com

BrookfIeld resIdenTIal unveils its four new Muskoka showhomes in the community of Auburn Bay

16 NEW CoNdo GuidE | Volume 17 issue 08 | newcondoguide.com

AUBURN BAYAUBURN BAY

17

SOUTHEAST

2 M4102-1B.inddRound

Job Description: Mechanical Specifications: Contact:

Leo Burnett 175 Bloor Street E. North Tower, 13th Floor Toronto, ON M4W 3R9 (416) 925-5997

Client: TD BANKDocket #: 112-LTDCOFU4102Project: SMO MORTGAGE MAGAZINE Ad #: U4102-1B

Bleed: 8.5” x 11.25” Trim: 7.5” x 10” Live: 6.5” x 9”File built at 100% 1” = 1”

Acct. Mgr: GENEVIEVE/JORDAN

Crea. Dir: DAVID FEDERICO

Art Dir: -

Writer: -

Producer: BARRY DUROCHER

Studio: GRAHAM BOWMAN

Proofreader: PETER

Colours: 4C Start Date: 7-2-2014 12:27 PMRevision Date: 7-3-2014 5:01 PMPrint Scale: 100%

Comments: Calgary New Home Guide, Calgary Resale Home Guide, Edmonton New Home Guide, Edmonton New Condo Guide, Ontario New Home Guide-GTA, Ontario New Home Guide-Eastern, Ontario Condo Guide-GTA, Ontario Resale Home and Condo, New Home Guide-SWO, Vancouver

Publication: **see comments**

1 Conditions apply. See us for details. ® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

Visit a branch or tdcanadatrust.com/paymentvacation

Take time off from your mortgage payment.

A fl exible mortgage from TD allows you to concentrate

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Dear Mortgage, I’m taking time off to cook up a new career.

0006217-001_M4102_1B.indd 1 7/7/14 3:57 PM

TD Bank SMO Mortgage.indd 1 7/9/14 9:43:25 AM


01 HUNTER HOUSE BY STREETSIDE DEVELOPMENT 1020 194th Ave S.W. www.hunterhouseliving.com

03 OVATION BY INTERGULF CIDEX #2105, 99 Spruce Place S.W.

04 THE LANDINGS BY STATESMAN 771 Patrick St. S.W.

05 OVERTURE BY JAYMAN MODUS Sales Centre Now Open in Currie Barracks

06 SAWYER SILVERADO BY AVI URBAN 175 Silverado Blvd S.W.

07 GLAS BY AVALON 2712 17th St. SW

08 ALEX BY ASSURED DEVELOPMENTS Presentation Centre: 2719 14th St. SW

09 MISSION 34 BY ASSURED DEVELOPMENTS 98 Mission Road SW mission34.ca

11 CURRIE BARRACKS BY CANADA LANDS COMPANY J5, 2953 Battleford Ave. S.W.

12 EIGHTY5NINE BY VERTICAL PROPERTIES 882 - 85 Street SW eighty5nine.com

16 EINSTEIN BY PROVIDENCE GROUP 1521-26th Ave. Discovery Centre Now Open 139-17th Ave. SE

SOUTHWEST COMMUNITIES

NOSEHILLPARK

16 AVENUEOLD BANFF COACH ROAD

16 AVENUE CENT

RE S

TREE

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EDM

ONT

ON

TRAI

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14 S

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85 S

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69 S

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BARL

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ANDERSON ROAD

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JAMES M

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SHAWNESSYBLVD.

SHERIFF KING ST. SW

194 AVE

GLENMORERESERVOIR

CROWCHILD TRAIL

JOHN LAURIE BLVD.

SHAG

ANNA

PI TR

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NOSE

HILL

DR.STO

NEY TRAIL

COUNTRY HILLS BLVD.COUNTRY HILLS BLVD.

ROCKY RIDGE BLVD.

DEER

FOOT T

RAIL

DEERFOOT TRAIL

64 Ave

37 S

TREE

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SARC

EE T

RAIL

17 Ave

32 Ave

16 AVENUE

FISH CREEK PARK


AIRPORT

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in the news

Alberta’s residential construction economic impact hit $17.9 billion annually as investment in home building and renovation climbed, according to a study for the Canadian Home Builders’ Association – Alberta

AlbertA residentiAl construction generates $17.9B investment

AlbertA’s residentiAl construction economic

impact hit $17.9 billion annually as investment in home building and renovation climbed, according to a new study for the Canadian Home Builders’ Association – Alberta (CHBA – Alberta).

Investment rose more than 17 per cent, or $2.7 billion, in 2013 over the previous year. The work produced more than 100,000 jobs for Albertans and nearly 25,000 jobs elsewhere in Canada. Wages totalled $7.9 billion.

The value of new home construction reached $9.7 billion while renovation work totalled $6.7 billion. Expenditures such as realty and legal fees added $1.5 billion.

“Builders broke ground on almost 100 new homes a day last year, and construction is forecast to rise again in 2014. Buying a new home or starting a major renovation is a giant vote of confidence in Alberta’s future and the strength of the housing market. Unlike many major consumer purchases, most of that investment stays in the local economy,” says Stephen Amonson, president, CHBA – Alberta.

The new economic impact report for Alberta was prepared by Will Dunning Inc., a consulting firm that specializes in housing market analysis,

and is based on actual results for 2013, and includes investment, direct and indirect employment, and wages paid.

The report shows almost a fifth of all new homes built in Canada were in Alberta – well above the province’s 11.5-per-cent share of the national population – and the highest proportion since 2007.

“The pressure is on Alberta’s housing market with both rents and existing home sales rising fast. New homes are needed to keep prices from rising out of reach of many Albertans, especially first-time buyers. The last thing Albertans searching for a home need are more ‘new neighbour taxes.’ Costs imposed by governments in the form of taxes, levies, permits and fees must be controlled if Alberta is to offer a quality of life that attracts new workers and investment,” says Jim Rivait, CEO, CHBA – Alberta.


Visit our showhomes at 220 Silverado Plains Park SWCall us at 403.240.4664

Downsize, Don’t downgrade.

Townhomes from the $380’s and Stacked Bungalows from the $490’sVisit HunterHouseLiving.com for more information.

Make room for summer! With large terraces perfect for summer entertaining, our stacked bungalows set a new standard for outdoor living in southwest Calgary. And on the inside, Hunter House features high-end finishes that are sure to impress.

21

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797

09 11

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20 SUNSET BY JAYMAN INNOVATIONS 24 Sunset Rd. Cochrane, Alberta

AIRDRIE09 CREEKSIDE VILLAGE

BY CARLISLE GROUP 8th & MacKenzie Way Airdrie, Alberta

10 STONEKEEP AT KING’S HEIGHTS TOWNHOMES BY MERGE DEVELOPMENTS 1225 King’s Heights Way SE Airdrie, Alberta

11 THE EDGE BY STREETSIDE DEVELOPMENTS 604 East Lake Blvd N.E. Airdrie, Alberta

12 RAVENSWOOD TOWNHOMES BY SLOKKER CANADA WEST 2802 Kings Heights Gate

13 BROOKSIDE AT BAYSPRINGS BY MERGE DEVELOPMENTS Coming Soon to Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com

15 CHESTERMERE TOWNHOMES BY SLOKKER CANADA WEST #300 Marina Drive, Chestemere

17 ZEN OKOTOKS BY AVALON MASTERBUILDER www.zeninbalance.com

03 CONCEPT BY JAYMAN MODUS 201 Sunset Drive, Cochrane, Alberta

04 SUNSET POINTE BY CALBRIDGE HOMES 302 Sunset Pointe Cochrane, Alberta

05 STONE CREEK LANDING BY CARLISLE GROUP 103 - 5th Avenue, West, Cochrane, Alberta

COCHRANE01 TOWNHOMES AT

JUMPING POUND RIDGE BY SLOKKER CANADA WEST Sales Centre on George Fox Trail just past Jumping Pound Terrace www.slokker-west.ca

02 HEARTLAND TOWNHOMES BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

06

CALGARY’S SATELLITE COMMUNITIES

0507

0302

08

13 10 12

06 THE VILLAGE BY CALBRIDGE HOMES 3102-15 Sunset Square Cochrane, Alberta

07 RIVERREACH VILLAS & MANORS BY JAYMAN MASTERBUILT 13 Riviera Way Cochrane, Alberta

08 THE RANGE BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta

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HOT TOPIC

8 EASY STEPS to identifying the good (and bad) home builders

YOU ARE ABOUT TO BUY A CONDO AND MAKE the biggest investment decision of your life. Make sure that you have all the facts and do your homework before you commit.

Home building is a complex process. It takes training and a great deal of skill to build a high-quality home. Not everyone who claims to be a home builder is actually qualified or experienced. After visiting as many show suites as you can, narrow your list of preferred builders to the top three. If they have the plans and specifications that you like, or the ability to provide them, your next step will be... you guessed it! More screening.

8 STEPS TO FINDING YOUR DREAM HOME BUILDER:

01 | Talk with people who have already bought homes from these home builders, and ask them if they are satisfied customers. Ask about the attention they got throughout the home-buying process and after they moved in. You can get a list of past customers from the home builders, or walk through a completed neighbourhood by the builder you’re researching, knock on some doors, and get an unbiased account.

02 | Find out if the builders are members of a new home warranty program, and if not, why? Good builders provide warranty coverage – deposit protection, material and workmanship warranties, and a sound structural warranty – and must show that they have the technical, management, marketing, and financial skills necessary to build new homes.

03 | Ask if the builders are members of the Canadian Home Builders’ Association – Calgary Region, and if not, why? The Association works with governments and private partners to improve regulations which affect the cost of your new home. They believe in affordability. They stay up-to-date on developments in the industry and keep their technical and business skills well tuned through workshops, courses and information sharing.

04 | Ask what industry-sponsored training programs the builders and their staff have taken in recent years. Building and design technology is constantly changing, and professional home builders invest in keeping current.

05 | Ask if home building is the builder’s full-time profession. Many of the common problems consumers run into are caused by amateur builders with little experience or training.

06 | Inspect the show suites on quality, attention to detail and cleanliness. These are good indicators of the quality of the builder.

07 | Drive past the builders’ construction sites. Are they clean and orderly? This usually indicates a well-organized builder.

08 | Ask the builders how many years they have been in business and if they have always operated under the same name. As with any other business, builders can employ various strategies – such as dissolving old companies and forming new ones – to avoid obligations to customers.

CHBA – Calgary Region is the voice of the residential home-building industry, with a national body representing more than 8,000 member firms across the country. Membership comprises new home builders, renovators, developers, trade contractors, building material manufacturers and suppliers, lenders, and a host of other housing industry professionals. Visit chbacalgary.com.


OKOTOKSSHEEP RIVER

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10 SAGE PLACE BY CARDEL LIFESTYLES Now Open Show suite 175 Panatella Hill NW

13 SAGESTONE BY GREENVIEW DEVELOPMENTS livesagestone.com

14 UNIVERSITY CITY BY KNIGHTBRIDGE

15 THE GROVES OF VARSITY BY STATESMAN HOMES 5353 Crowchild Trail NW

16 COVENTRY STATION BY HUNTER RESIDENTIAL DEVELOPMENTS 13001 Coventry Hills Way www.coventrystation.ca

17 BROWNSTONES BY GENESIS BUILDERS GROUP 16 Sage Meadows Circle NW

18 SONOMA AT SAGE HILL BY VERTICAL PROPERTIES 881 Sage Valley Boulevard www.sonomasagehill.com

19 916 BY SABLE DEVELOPMENTS Sales Centre Now Open

21 LIDO BY BATTISTELLA Sales Centre 1120 Kensington Rd

22 AVIRA BY JAYMAN MODUS Coming Soon

NORTHWEST COMMUNITIES

16

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01 PANORAMA WEST BY CARDEL LIFESTYLES 175 Panatella Hill NW

02 VEN BY BUCCI Coming Soon Show Suite 306 10th St. NW

03 VIRIDIAN BY TRICO HOMES Sales Centre Now Open 3503 Sage Hill Drive NW

04 WILLOW AT SHERWOOD BY AVI URBAN Coming Soon Visit Sales Centre at 64 Nolan Hill Gate

05 ENCORE AT KINCORA BY CARLISLE GROUP 37th Street and Kincora Glen Road N.W.

06 TRINITY BY JAYMAN MODUS 9 Nolan Hill Blvd. NW

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IN THE NEWS

hit highest level since March 2010CANADIAN HOME SALES UP,

NATIONAL HOME SALES ACTIVITY EDGED UP almost one per cent on a month-over-month basis in June 2014, marking the fifth consecutive monthly increase and the highest level for sales since March 2010, according to statistics released by The Canadian Real Estate Association (CREA).

The number of home sales increased 0.8 per cent on a month-over-month basis in June 2014. Sales rose in about half of all local housing markets in June, led by gains in Greater Vancouver where activity hit its highest level in more than three years, and Montreal where activity is now 10 per cent above post-recession lows reached earlier this year.

“Sales have improved compared to their slower start earlier this year,” says CREA president Beth Crosbie. “That said, there are still important differences in how housing markets are faring depending on location, housing type and price point.”

Sales activity in June stood 11.2 per cent above levels reported in the same month last year. June sales were up from year-ago levels in three out of every four local markets, led by Greater Vancouver, Fraser Valley, Calgary, Greater Toronto and Hamilton-Burlington.

The number of newly listed homes was little changed in June, having eased by 0.1 per cent compared to May. In May, new listings reached their highest level since April 2010.

“At least some of the recent burst in new supply reflects the slow start to the year, when a harsh winter caused many sellers to delay listing their home in many parts of the country,” says Gregory Klump, CREA’s chief economist. “In markets with tight supply and strong demand, the strength of sales in recent months reflects how many properties were snapped up once they finally hit the market. Because the impact of deferred listings and sales has likely run its course, activity over the second half of the year may not be able to maintain the kind of pace we’ve seen over the past couple of months.”

The national sales-to-new listings ratio was 53.6 per cent in June, up slightly from 53.2 per cent in May but still well entrenched within the range between 40 and 60 per cent that marks balanced market territory. Just over half of all local markets posted a sales-to-new listings ratio in this range in June, with a fairly even split among the remainder between those in buyer’s market and seller’s market territory.

The number of months of inventory – the time it will take to liquidate current inventory at the current rate of sales activity – has firmed since the beginning of 2014. There were six months of inventory nationally at the end of June 2014. This was unchanged from May but half a month below where it stood at the beginning of the year. As with the sales-to-new listings ratio, the number of months of inventory continues to suggest that housing markets remain generally well-balanced.

Prices were up by 5.4 per cent year over year in June following slower price gains in April and May. Two-storey single-family homes posted the biggest year-over-year price gains (up 6.19 per cent), followed by single-family bungalows (up 5.35 per cent) and townhouses (up 5.07 per cent). Price growth for apartment units remained comparatively more modest (up 3.85 per cent).

Year-over-year price growth varied among local housing markets, with the biggest gains posted by Calgary (up 10.74 per cent), Greater Toronto (up 7.77 per cent), and Greater Vancouver (up 4.37 per cent).

The national average price for homes sold in June 2014 was $413,215, up 6.9 per cent from the same month last year.

The national average price continues to be skewed upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s largest and most expensive housing markets. Excluding these two markets from the calculation, the average price is a relatively more modest $336,164 while the year-over-year increase shrinks to 5.2 per cent.


HOMEBUYERS’ HELP // BY PETER NG

Peter Ng has been a realtor in Calgary for nine years, and actively involved in real estate

ventures for over 12 years as a marketer, investor, developer and home builder. Over

this time, he has established himself as a trusted real estate professionals specializing

from condo pre-sales to investment properties. korerealestate.com

There are so many reasons to use a realtor when buying a new condo that it would be

impossible to list them all. Fundamentally, having a real

estate agent represent you when purchasing a new home not only makes the process more pleasant, but a realtor can help you get the best value for your money, resulting in a home that is everything you expected it to be after construction is complete.

1 STAY WITHIN YOUR BUDGET

It’s common knowledge that realtors are paid commissions on the homes they help their clients to buy and sell. However, as a buyer, there is no cost to you. Your Realtor will help you ensure the condo unit is within the pricing for the neighbourhood, and that you stay within your budget. An experienced realtor will also know what upgrades will give their client the best value for the money.

THE VALUE OF A REALTOR WHEN BUYING A NEW CONDO

2 GET REPRESENTATION

If you plan on buying a condo on your own, you run the risk of not having your own interests protected. While the developer’s salespeople are not necessarily trying to take advantage of you, they work for the benefit of the developer.

Your realtor’s job is to help you choose a home that aligns with your needs and meets your expectations, after it’s built and for years to come.

If the unfortunate situation arises where there is a major problem or issue with the unit, your realtor will be able to step in and work as your advocate.

3 TAKE ADVANTAGE OF THE SERVICES

Having a realtor work with you gives you the benefits of many services, which include, but are not limited to, the following:Market analysis: Realtors can, and should, perform a market analysis to help you determine the right time to buy. A realtor will be able to explain the benefits of purchasing in a low season or high season, and should be able to tell you whether it’s a hot or slow real estate market, and what that means to you.Search, filter and compare developments: You can simply tell your realtor what you’re looking for in terms of price, location, and any other details that may be important to you, and your agent will manually filter out projects and present only those that will be of interest to you, streamlining the process and saving you a lot valuable time.Development analysis: It is extremely important to work with developers who are reputable and have a history of building-good quality developments. Realtors are able to provide you with insider information and the track records of developers and developments to ensure you make the right choice.

During development analysis, your realtor will examine the following aspects of the new development and the development team behind it:» Reputation in the industry» Credibility » History of construction quality and condo fee increases in previous developments» Financial standing of the development company» Pre-sales status» Construction financing status» Construction progress and schedule» Future development sites that may obstruct your views or affect the value

of your purchase


Jayman-Modus 06-27-14.indd 1 2014-06-19 11:03 AM

LIFE HAPPENS ON THE INSIDE.

So you’re looking for a condo or townhome that fits your life. Take a moment to think about this. Modus offers more choice in Alberta than any other

multi family builder. The largest combination of interior options, amenities, models, building styles, communities, cities, price points and services. With

choices like this your new home is really only limited by your imagination.

SO BUILD YOUR HOME AROUND YOUR LIFE NOT THE OTHER WAY AROUND.


WITH MODUS YOU GET:

■ ■ ■ a solid and thoughtfully designed product based on 30 plus years of industry experience.

■ ■ ■ the best in industry interest rates.

■ ■ ■ into your home easier with our down payment savings program.

■ ■ ■ an improved quality of living with included amenities like gyms, courtyards, parks, party rooms and more.

■ ■ ■ a smooth transition with our complimentary moving van.

■ ■ ■ help selling your home for the best possible market value.

■ ■ ■ one year jayman service warranty.

■ ■ ■ to save money on legal fees.

...........................................................


The Jayman Modus Down Payment Savings Program is an opportunity to continue saving money towards your down payment while your home is being built. Program suitable for Pre-Sale homes and homes with 6 month + occupancy.

Example. Purchase July 2014 with occupancy February 2015

Purchase Price 330,000 plus GST 16,500 (GST) 5,940 (Rebate if applicable) 340,560 5% down $17,028

Payment Structure 1000 Deposit Hold July 7,514 2.5% (consolidation - approximately 10 days)

Remaining 8,514 staggered monthly until last payment 45 days prior to possession

August 1702.80 September 1702.80 October 1702.80 November 1702.80 December 1702.80

Buying a home is possible!

ASK USabout the

Jayman Modus DownPayment Savings

Program



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The name Modus stands for how we do things. In the past 30 years we have

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It’s just what we do.


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Jayman Modus Calgary is a Builder of Excellence for providing “An Outstanding Home Ownership Experience” for Multi-Family Homes in Alberta.


Your realtor can also help you decide whether you want to take the risk of purchasing a unit from a newer developer who doesn’t have a previous track record to look into. Home evaluation: Home evaluation, which is also called “comparative market analysis,” is the process by which a realtor compares your chosen development to similar developments in the area and to resale listings to determine market value. A home evaluation is vital in ensuring the property you purchase is worth what you are paying for it.Building plan and floor plan review: For pre-construction sales, it is particularly important to have a real estate agent review the building plans and floor plans. Your realtor will be able to look at the plans and determine whether or not they are functional, will retain resale value, and are what you are looking for. Your agent will be able to make sure you are aware of anything that can affect the value of your new condo, as well as your enjoyment of it, such as potential smell, noise and security issues. Experienced agents will bring to your attention where the garbage chutes, sheds, mechanical rooms, entrances and elevators are in relation to your unit, and how they will affect you.Contract review: By having a realtor review your contract before you sign it, you can avoid many common pitfalls. A realtor will review the contracts to point out the following:» Escalation and Termination Clauses – Determines if and when

the developer can increase your purchase price or terminate the purchase contract

» Substantial Change Clause – Determines if and how much a developer can change the specifications and square footage of the unit you purchase

» Deposit Clause – Determines if your deposit money is deposited into the developer’s bank account or into a lawyer’s

trust account; and if the developer can use your deposit funds Upgrade and selections review: A realtor will help you review your upgrade options and determine which ones are of value. Some upgrades are worth doing through the developer, and others cost much less if done on your own after taking possession. Negotiation of terms and clauses: Often times, there will be some room for negotiation in the contract terms and clauses. You will need an experienced realtor to negotiate the most favourable terms for you. Developers often use their standard contracts, which are drafted by their lawyers to protect their interests. You need to have someone advocating for you to ensure the contract terms and clauses are fair for you as well. Experienced agents know what to look for and what needs to be changed before accepting a contract.Pre-delivery inspection The pre-delivery inspection, which is also referred to “walkthrough inspection,” ensures required repairs are noted on the deficiency list. The deficiency list gets submitted to the developer, who will then correct the deficiencies under the new home warranty program. Experienced realtors have done walkthrough inspections hundreds of times and know what to look for to ensure nothing is missed.Deficiency repair follow-up: Your realtor will follow up with you and the developer to ensure all of the deficiency list repairs have been completed. A professional realtor will do this and provide you with complete end-to-end service.


FOR MORE INFORMatION:

carlislegroup.ca 403.228.5872

NOW SELLING IN 6 LOCatIONS

ALBERTA’s #1 CONDO BUILDERMAYBE IT’s BECAUsE WE’RE sO EAGER TO PLEAsE

aLBERt PaRK: vISIt thE CENtRaL SaLES CENtRE

aIRDRIE: ShOW SuItE OPEN

COChRaNE: By aPPOINtMENt ONLy

LEGaCy: By aPPOINtMENt ONLy

KINCORa EMERaLD SKy: COMING SOON

CENtRaL SaLES CENtRE: at RIvERFRONt POINtE: 325 3RD St. SE

(aCROSS FROM BOOKERS)

EDMONtON: IN MaNy LOCatIONS

c o m i n g s o o n

concRETE & sTEEL consTRUcTion

QUiET, moDERn & ULTRA comFoRTABLE

sTAnDARD gRAniTE coUnTERTops & sTAinLEss sTEEL AppLiAncEs

inDooR HEATED pARKing (adjacent to some suites)

commAnDing LocATion WiTH sTUnning ViEWs

mAsTER pLAnnED URBAn ViLLAgE DEsign

THE nEW conDo cHoicE FoR THE inTELLigEnT pURcHAsER

FROM THE

$180’s REgisTER aT

emeraldsky.ca

artist’s concept only

Final Clearance. No Reasonable Offer Refused. Last 11 Units.

SaleS Centre HourS: Mon - Fri 12-6 pmSat, Sun & Holidays, 12- 5 pm

SaleS Centre loCation: 325 3rD Street Se (across from Bookers)

REgisTER aT

CreeksideVillageCondos.com


FINaL PhaSE SELLING NOW!

RAILWAY AVE

YANKEE VALLEY BLVD SE

AIRDRIE ROAD NE

HIG

HW

AY 2

8 ST

MAI

N S

T

MC

KEN

ZIE

WAY

SaleS Centre HourS: Mon-thurs 2-8 pm Sat, Sun & Holidays 12-5 pm, Closed Fridays

#2105 - 403 MacKenzie Way SW airdrie, east of 8th Street

403.980.3334

executive furnished suitesearn up to $3000 month

free Air cOnditiOninG

GO tO rivpt.com

frOM the

$300’s

403.228.5872

1 Street SE

3 Street SE

Centre Street S

4 Avenue SE

5 Avenue SE

MacleodTrail SE

Riverfront Ave SE

Memorial Drive NE

32

FOR MORE INFORMatION:

carlislegroup.ca 403.228.5872

NOW SELLING IN 6 LOCatIONS

ALBERTA’s #1 CONDO BUILDERMAYBE IT’s BECAUsE WE’RE sO EAGER TO PLEAsE

aLBERt PaRK: vISIt thE CENtRaL SaLES CENtRE

aIRDRIE: ShOW SuItE OPEN

COChRaNE: By aPPOINtMENt ONLy

LEGaCy: By aPPOINtMENt ONLy

KINCORa EMERaLD SKy: COMING SOON

CENtRaL SaLES CENtRE: at RIvERFRONt POINtE: 325 3RD St. SE

(aCROSS FROM BOOKERS)

EDMONtON: IN MaNy LOCatIONS

c o m i n g s o o n

concRETE & sTEEL consTRUcTion

QUiET, moDERn & ULTRA comFoRTABLE

sTAnDARD gRAniTE coUnTERTops & sTAinLEss sTEEL AppLiAncEs

inDooR HEATED pARKing (adjacent to some suites)

commAnDing LocATion WiTH sTUnning ViEWs

mAsTER pLAnnED URBAn ViLLAgE DEsign

THE nEW conDo cHoicE FoR THE inTELLigEnT pURcHAsER

FROM THE

$180’s REgisTER aT

emeraldsky.ca


Final Clearance. No Reasonable Offer Refused. Last 11 Units.

SaleS Centre HourS: Mon - Fri 12-6 pmSat, Sun & Holidays, 12- 5 pm

SaleS Centre loCation: 325 3rD Street Se (across from Bookers)

REgisTER aT

CreeksideVillageCondos.com


FINaL PhaSE SELLING NOW!

RAILWAY AVE

YANKEE VALLEY BLVD SE

AIRDRIE ROAD NE

HIG

HW

AY 2

8 ST

MAI

N S

T

MC

KEN

ZIE

WAY

SaleS Centre HourS: Mon-thurs 2-8 pm Sat, Sun & Holidays 12-5 pm, Closed Fridays

#2105 - 403 MacKenzie Way SW airdrie, east of 8th Street

403.980.3334

executive furnished suitesearn up to $3000 month

free Air cOnditiOninG

GO tO rivpt.com

frOM the

$300’s

403.228.5872

1 Street SE

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Centre Street S

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5 AVE S

4 AVE S

4 AVE

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VICTORIA PARK /STAMPEDE STATION

ERLTON /STAMPEDE STATION

SUNNYSIDESTATION

01

04

14

07

11

11 SOBOW BY M2I DEVELOPMENTS CORPORATION 1640-170A St. SE

12 KENSINGTON BY BUCCI 301 10th St. NW Coming Soon

13 FIRST BY FRAM + SLOKKER East Village Experience Centre 553 Riverfront Ave. SE

14 6TH & TENTH BY LAMB DEVELOPMENT CORP.

15 LUCIDA BY CHELSEA HOMES 3804 MacLeod Tr. S

16 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE

17 916 BY SABLE DEVELOPMENTS 916 Memorial Drive

18 EVOLUTION BY EMBASSY BOSA INC. East Village Experience Centre 553 Riverfront Ave. SE

19 VERVE BY FRAM + SLOKKER Sales Centre Now Open in East Village

20 LIDO BY BATTISTELLA Sales Centre 1120 Kensington Rd

21 EINSTEIN2 IN BRIDGELAND BY PROVIDENCE GROUP Register: einsteincalgary.com

22 ALEX BY ASSURED DEVELOPMENTS Presentation Centre: 2719 14th St. SW

23 MISSION 34 BY ASSURED DEVELOPMENTS 98 Mission Road SW mission34.ca

24 EZRA ON RILEY PARK BY BIRCHWOOD PROPERTIES Coming Soon

25 BRIDGELAND HILL BY GABLECRAFT HOMES 516 Edmonton Tr. NE Coming Soon

01 RIVERFRONT POINTE BY CARLISLE GROUP 101 Riverfront Avenue S.E.

02 PARK POINT BY QUALEX-LANDMARK Coming Soon Register now at Qualex.ca/ParkPoint

03 43 PARK BY VERICON REAL ESTATE VENTURES 43park.ca

04 WATERFRONT BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

05 VEN BY BUCCI 835 5th Ave. NW Show Suite 306 10th St. NW vencondos.com

06 AVENUE BY GROSVENOR & CRESSEY 1035 5th Ave. SW

07 SMITH BY GROSVENOR Visit Sales Centre at 850-16th Ave. SW, 2nd Floor

08 DISTRICT BY BOULEVARD INVESTMENTS Sales Centre Now Open 305 18th Ave. SW

09 LiFFT BY VERICON REAL ESTATE VENTURES Coming soon to Renfrew-Bridgeland liveLiFFT.com

10 BRIDGELAND CROSSINGS BY GABLECRAFT HOMES bridgelandcrossings.ca

INNER CITY

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condo profile

// By HeatHer ryan

Battistella launcHing LIDO in Kensington

a unique condo project that offers a fabulous location in desirable Kensington, with well-designed suites and upscale finishings, has quickly become a hit with buyers.

Located at the corner of 2nd Avenue and 10th Street N.W., LIDO by Battistella Developments is an eight-storey mixed-use building that combines residential, retail and a boutique hotel, and is being so well received that it’s already 60 per cent sold.

“We’re very excited because the response has been excellent and our presentation centre is extremely busy,” says Traci Wilson, director of sales and marketing.

“People love the floor plans, suite sizes and the views,” she says. “The finishing package is being really well received; it’s a step up from what we typically build with wood-plank style flooring and high-end appliances including a gas stove and built-in wall oven.

“And it’s really a stellar location, being on 10th Street in the heart of Kensington,” Wilson adds, noting it’s just a block away from the LRT station and an array of shops, services, coffee shops, restaurants, parks, pathways and downtown are just minutes from the doorstep. “It’s really a great area to live.”

LIDO will be a midrise concrete building featuring small retail shops on the main level and – a first for Battistella – and a second-floor boutique hotel available for both residents to use for overnight guests and the general public.

The top six floors include 60 apartment-style condos featuring cool, modern style that appeals to everyone from young professionals looking to move up, to empty nesters looking to downsize.

The residential suites present a variety of one- to three-bedroom floor plans ranging from 450 to 1,500 sq. ft. Prices start in the $280,000s for one-bedrooms; one-bedroom-with-den suites are


priced in the $400,000s; two-bedrooms are in the $500,000s; and three-bedrooms in the $900,000s.

“We’re still offering pre-construction pricing,” Wilson says, but buyers will need to act fast to take advantage of that, as plans are to start demolition of buildings on the site this summer with excavation and construction to start in the fall.

Along with the great location, buyers adore the high-end interior finishings – especially the unique kitchen island that has been designed just for LIDO, featuring a custom dining table at one end and a quartz countertop at the other end that surrounds the built-in five-burner gas stove. Other impressive features include Fisher & Paykel stainless steel appliances, European-style floating cabinets, in-suite laundry with washer and dryer, floor-to-ceiling/wall-to-wall windows, nine-ft. ceilings, and

balconies with gas line hookups. Suites also come with an underground parking stall and LIDO offers a 10-year structural warranty.

“A lot of our residents are young professionals buying their second or third condo, and downsizers who are moving from a large home and don’t want to skimp on size, style and luxury,” Wilson says. “They’re downsizing, not downgrading.”

The building’s exterior is also appealing, designed to fit into the Kensington streetscape with brick gracing the first two floors, and glass above and the entrance will feature Battistella’s signature colourful mosaic, as well as a restored sign from Kensington’s LIDO Cafe adding historic character. Residents will also have a great rooftop patio where they can socialize and enjoy stunning views of downtown and the Bow River.

LIDO means a place of recreation in Europe, which fits both the Battistella family’s Italian background and the location, says Wilson. “Residents can relax in Kensington and live the LIDO lifestyle.”

for more information about lido, visit the presentation centre at 1120 Kensington rd. n.W., open tuesday to friday from 10 a.m. to 6 p.m.; and weekends from 11 a.m. to 5 p.m., visit battistella.ca/lido or call 403.290.1664.

A SURGE IN MULTI-FAMILY CONSTRUCTION pushed Alberta housing starts up strongly in the first half of 2014.

At 18,137 units, total housing starts recorded by Canada Mortgage and Housing Corp. (CMHC) in the province’s cities with a population over 10,000 were up 12 per cent from the first six months of 2013. Improvements in Metro Calgary, Lethbridge, Medicine Hat and Red Deer offset declines in Greater Edmonton, Grande Prairie, and Wood Buffalo.

Single-detached starts in the first half of 2014 amounted to 7,859 units, up two per cent from January to June 2013. Multi-family activity was stronger, with total starts reaching 10,278, representing a gain of 22 per cent over combined semi, row and apartment starts reported in the first six months of 2013.

Calgary’s hot condominium apartment market provided much of the heavy lifting. Multi-family starts in Greater Calgary were up over 140 per cent to mid-year, with Lethbridge, Medicine Hat and Red Deer also reporting stronger numbers. A slowdown in Edmonton was expected since 2013 witnessed the second-highest number of multi-family starts on record across the Capital region.

Demand for new homes in Alberta should remain strong for the balance of 2014, thanks to affordable mortgage rates, steady job creation and robust population growth. A shortage of rental units and relatively tighter resale home markets are also helping to bolster consumer interest in new homes this year.

ALBERTA HOUSING STARTS CLIMB IN FIRST HALF OF 2014

CMHC REPORT


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CONTEMPLATING CONDOMINIUMS // by LINDA PALfI

Linda Palfi is a condominium-specialist realtor with Discover

Real Estate. She has overseen many condo projects as the chair

of her condo board, and is a member of the professional standards

committee of the Calgary Real Estate Board. Further articles and her Calgary Condo

Directory can be found online at CondosInCalgary.com. Call Linda

for more information at 403.998.7732

Misunderstanding can occur upon the sale of a condominium home, as the buyer may think he “owns” the assigned parking space that goes with the living unit

Who owns

In condominium ownership, you may have a patio or deck and usually one parking space, but you

don’t necessarily own these outright.Because these spaces are outside

of your privately owned living area,

My DECk AND PArkING STALL?they are considered part of the common property to ensure they are maintained as part of the building. While they’re common property, you have “exclusive use” of them. If someone else parks in a stall assigned to you, have the vehicle towed away. If someone’s party spills onto your patio, order them off. You may own that property jointly with your condo neighbours, but it’s for you alone to use.

An exception to this arrangement is parking that has been surveyed into privately owned pieces of land. You can own these spaces outright, and sell them along with your residential unit, keeping any appreciated value for yourself. Yet, such privately owned parking is subject to the condominium bylaws, so there are still some common-sense rules to follow.

In the case of parking that is common property (owned by all condo owners in the building), you are assigned a stall – whether indoor or surface – by your neighbours who serve as the Condominium Board of Managers. You may receive a formal lease agreement from the management company your Board employs, but often the arrangement is less formal.

Misunderstanding can occur upon the sale of a condominium home, as the buyer may think he “owns” the assigned parking space that goes with the living unit. But the Board may well have a rotation plan for parking spaces, assigning the available covered stalls, for example, to those owners on a waiting list. New buyers go to the bottom of the list, even though the seller had a covered stall!

Other condo corporations give parking priority to resident owners over renters of living units. If you buy a unit and live in it, you get to continue using the seller’s covered parking, but if you rent your suite out, your tenant will be assigned outdoor parking. This is not considered discriminatory. The owners – through their Board of Managers – have every right under Alberta law to cater to owners who live there over those who rent out their property.

Going a step further, if you don’t own a car, an assigned parking stall is not really yours to rent out. Usually the bylaws give that right to your condo corporation. In practice, few Boards bother with this, and often assigned spaces earn a few dollars per month for the owner of the living unit they are assigned to.

Buyers should know exactly what the status of their parking space is – and will be – upon their purchase. Your realtor should always inquire on your behalf.

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INNER CITY

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In my 10 years as a real estate editor, I have picked up a few things. Get pre-approved for a

mortgage before you start shopping. Don’t buy beyond your means. Choose your location wisely. I’ve read this same advice time and time again, reiterated by various columnists. I’ve even written a few articles myself on these subjects. But when it comes to learning, nothing beats first-hand experience.

Having recently bought and sold a home, one thing I’ve discovered is that it’s always better to learn from someone else’s mistakes rather than your own.

home sweet home // by Lydia mcNutt

Lydia McNutt is an award-winning writer and editor of New Condo Guide.

Lydia’s love of architecture, interior design and the written word have landed her happily at home at Wall2Wall Media,

where real estate rules. Email [email protected],

and follow her on Twitter @LydiasTweets

In our hunt for a home, my husband and I came across some interesting scenarios worth sharing. With a whole year of open houses under our belts before putting our own house on the market, we quickly learned how not to attract buyers.›› in the “dog house.” My family’s beloved yellow Lab, Fred, holds a special place in our hearts, but I know not everyone feels the same way about pets. Some people have allergies, some have phobias, and others just don’t care for them. My husband and I visited an open house with a pretty living room, a renovated and updated kitchen, and a large garage – perfect! But wait, what’s that noise? A pair of howling dogs crated in the garage were making their presence known to everyone who walked through that front door, and probably everyone within a five-mile radius! After enduring 10 minutes of incessant barking, we couldn’t get out of there fast enough. LessoN LearNed Before opening your home to potential buyers, neutralize it of anything questionable. This includes the lingering aroma of last night’s fish fry, the remnants of that do-it-yourself cheese-making experiment, and every indication of pets – food dished and all. Even seemingly insignificant things can be enough to influence a prospective homebuyer’s decision – consciously or subconsciously. When in doubt, take it out.

›› our home is your home? It’s not mandatory that the sellers vacate the home for an open house, but it’s a good idea. You’ve heard that prospective buyers can have difficulties picturing themselves living in your house if they see your family photos on display. Well, that goes double for seeing you in the flesh. We went to an open house and there were the homeowners, drinking coffee with their feet up in their living room – not ours. We felt like intruders. LessoN LearNed Typically an open house lasts for only about two hours. Go for a walk, go out for lunch, go to the grocery store. Just go!

›› dumping ground: I actually went to an open house where I stumbled across a filthy toilet brush, dirty rags and a slop bucket stashed in the shower. Unfortunately for the sellers, this shower was enclosed in glass and thus, a very poor hiding place. “Gross,” I thought. I didn’t need to see any more. LessoN LearNed A first impression is the only impression. Don’t waste this opportunity by showing your home in a less-than-perfect light.

While this all seems like common sense, some people aren’t born with it. The funny thing about these three scenarios is, the homeowners were all represented by selling agents who likely advised them on best practices. Do yourself a favour – follow professional advice, and learn by example. Before having your own open house, visit as many as you can, take note of what you liked about them, and what you didn’t. Then, learn from other people’s mistakes – not your own!

Lessons learned, the easy way


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CONDO HUNTER’S CHECKLIST When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where!

CONDO #1 CONDO #2 CONDO #3 CONDO #4

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:

2-storey detached highrise conversion bungalow townhome

SQ. Footage:

# of bedrooms:

# of bathrooms:

Interior appliances:

Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:

Financing available:

Other comments:

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:


SQ. Footage:

# of bedrooms:

# of bathrooms:


Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:


Other comments:

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:


SQ. Footage:

# of bedrooms:

# of bathrooms:


Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:


Other comments:

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:


SQ. Footage:

# of bedrooms:

# of bathrooms:


Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:


Other comments:

HOMEBUYERS’ HELP


HOMEBUYERS’ HELP

CONDO BUYERS’ RESOURCE SECTIONYOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD!

Compare mortgage rates for your best deal

Calculate your mortgage payments using the mortgage payment calculation chart

55

TOTAL PRE-TAX INCOME

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

AMOUNT OF MORTGAGE

(PRICE-DOWN PAYMENT)

DIVIDE BY THREE

AFFORDABLE MONTHLY PAYMENTS

DIVIDED BY 12

AMORTIZATION AMOUNT

CHART FIGURE

AMOUNT OF MORTGAGE

DIVIDED BY 1,000

AMORTIZATION AMOUNT

MONTHLY PAYMENTS

ESTIMATED MONTHLY TAXES

AND HEAT

3.00 17.96 9.65 6.91 5.54 4.73

3.25 18.07 9.76 7.02 5.66 4.86

3.50 18.18 9.88 7.14 5.79 4.99

3.75 18.29 9.99 7.26 5.91 5.13

4.00 18.40 10.41 7.38 6.04 5.26

4.25 18.51 10.23 7.50 6.17 5.40

4.50 18.62 10.34 7.63 6.30 5.53

4.75 18.72 10.46 7.75 6.44 5.67

5.00 18.85 10.59 7.89 6.58 5.82

5.25 18.97 10.71 8.01 6.71 5.96

5.50 19.08 10.83 8.14 6.85 6.11

5.75 19.19 10.95 8.27 6.99 6.26

6.00 19.30 11.07 8.40 7.13 6.40

6.25 19.42 11.19 8.54 7.27 6.55

6.50 19.53 11.32 8.67 7.41 6.70

6.75 19.64 11.44 8.80 7.55 6.86

YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD!

AMORTIZATION PERIODS

INTEREST RATES

5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

% CALCULATE YOUR MORTGAGE PAYMENTS

01Calculate the combined monthly before-tax income

of you and your spouse.

02Divide by three. This figure is the monthly payment you can

afford to make on your condo.

03Take 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.

04Refer 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.)

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

Divide by 1,000.

06Add to this your estimated monthly heating costs and

monthly property taxes.

07If this figure is equal to or less than one-third of your gross

monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

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.

FOLLOW THESE STEPS TO SEE IF YOU’LL QUALIFY FOR A MORTGAGE ON YOUR DREAM CONDO

HOMEBUYERS’ HELP


COMPARE MORTGAGE RATES FOR YOUR BEST DEAL VARIABLE 6 MONTHS 1 YEAR 2 YEARS 3 YEARS 4 YEARS 5 YEARS

MORTGAGE OPTIONSYou can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs.

All mortgages are of two basic types:

CONVENTIONALBuyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less. Buyer has to pay 25 per cent down. A conventional mortgage cannot exceed 75 per cent of the value of the property.

INSURED OR HIGH-RATIOBuyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less. The down payment can be as low as five per cent.

OPEN MORTGAGEAllows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty. Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

CLOSED MORTGAGEThis usually has the lowest interest rate available but lacks the flexible features of other mortgage options. It’s a good

choice for those who want the security of knowing their monthly payment is fixed for a longer term. Prepayment options are available but they are subject to conditions.

PORTABLE MORTGAGEOffers flexibility if borrowers move. Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home. This is an attractive option if the rate on the existing mortgage is lower than current rates.

ATB Financial 2.700 4.000 2.940 2.890 2.990 3.040 3.290Bank of Montreal (BMO) 3.000 4.000 3.140 3.040 3.850 4.390 4.990Bank of Nova Scotia 3.100 4.550 3.290 3.140 3.440 3.940 4.790Bridgewater Bank - - 4.800 4.700 5.250 - 5.250CIBC Mortgages 3.000 4.450 3.090 3.040 3.750 4.240 4.990Canadian Western Bank 3.200 4.000 3.140 3.040 3.750 4.390 4.990Canadian Western Trust 3.200 4.000 3.140 3.040 3.750 4.390 4.990First Calgary Financial - 4.000 2.890 2.890 3.190 3.390 3.290First National Financial 2.500 3.950 2.990 2.590 2.790 2.770 3.090Home Trust Company 2.500 3.950 2.890 2.890 2.790 2.940 3.040ICICI Bank Canada 3.050 - 3.150 3.650 3.640 3.690 3.890Investors Group Trust 3.000 4.200 3.140 3.140 3.750 4.640 4.990London Life 3.000 4.200 3.140 3.140 3.750 4.640 4.990Manulife Bank 2.700 4.450 3.000 3.050 3.100 3.140 3.190Manulife Trust - 4.450 3.000 3.050 3.100 3.140 3.190Meridian Credit Union 2.600 4.000 3.090 3.140 3.650 4.390 2.950National Bank 3.000 4.400 3.140 3.040 3.750 4.390 4.790Peace Hills Trust - 4.500 3.150 3.500 3.950 3.950 3.490President’s Choice Fin’l 3.000 6.190 3.290 3.040 3.590 3.690 4.090Royal Bank of Canada 3.000 3.140 3.140 3.040 3.750 4.540 4.940Servus Credit Union - 4.000 3.140 3.040 3.750 4.240 4.790T-D Mortgage 3.000 4.000 3.090 3.040 3.440 3.940 4.790Tangerine 3.000 - 3.190 3.240 3.490 3.690 3.790

Rates are subject to change without notice.


Index of advertIsers read more about our advertisers!

Albert Park Station Carlisle Group 32-33

Alex Assured Development 34

Arrive at Redstone Partners Developments 52

Avenue Grosvenor 45

Bridgeland Crossing Gablecraft Homes 4

Canoe Avi Urban 1, 11-13, 59

Champagne Remington Development Corp. 2

Copperfield Park II Brad Remington Homes 60

Creekside Village Carlisle Group 32-33

District Boulevard Developments 38

The Edge Streetside Developments 22

Einstein2 - Bridgeland Providence Developments 44

Emerald Sky Carlisle Group 32-33

Evolution Embassy Bosa 6

Ezra on Riley Park Birchwood Properties 31

The Gates Remington Development Corp. 14

Groves of Varsity Statesman 26

Heartland Townhomes Excel Homes 23

Hunter House Streetside Developments 21

Kensington Bucci Developments 43

Legacy Gate Carlisle Group 32-33

LIDO Battistella 36-37, 39

LiFFT Vericon 47

Muskoka Brookfield Residential 17

Orchard Brad Lamb Developments 49

Park Point Qualex Landmark 41

Riverfront Pointe Carlisle Group 32-33

Sage Place Cardel Lifestyles 3

Smith Grosvenor 7

SoBow M2i Developments 51

Stone Creek Landing Carlisle Group 32-33

Waterfront Anthem Developments 5

Willow Avi Urban 29

Zen Avalon Master Builder 25

Jayman Group of Companies Pullout Insert

AviraEbonyOverture

The RiseTrinity


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Calgary New Condo Guide - Jul 25, 2014

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