Crebnow dec13,2013

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Condos Feature A7

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REAL ESTATE (CENTRAL)

P R O F E TA | H A R E | S I L B E R M A N N I C K J M P R O F E TA ®

H E AT H E R P R O F E TA

REAL ESTATE (CENTRAL)

PAT H A R E

A Division of 4th Street Holdings Ltd.

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MARTINA SILBERMAN ®

FREE dec 13 to dec 19 2013 issue 03-49

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real estate news from industry experts

a measured increase Calgary construction levels rise in November Cody Stuart

managing editor

T

he upcoming nights may be silent, but Calgary’s days were full of another sound in November. Driven by a surge in multi-family construction, local builders hammered out 1,693 new home starts in November, a 71 per cent increase over October. “The gain in housing starts in November can be attributed to a heightened level of row and apartment construction,” said Canada Mortgage and Housing Corporation (CMHC) Senior Market Analyst Richard Cho. “We saw a number of condo apartment projects break ground last month, which were likely in the planning stages for several months before. It is not unusual to see swings in multi-family starts from month-to-month, especially if you have any larger projects start construction.” Broken down by sector, singledetached homes showed the smallest monthly increase, with builders breaking ground on 595 new single-family homes in November compared to 511 during the same month of 2012. The multi-family sector saw a much larger increase, with starts increasing by an astounding 129 per cent from 479 to 1,098. Housing starts in Alberta increased by 7.1 per cent year-over-year, marking the largest increase in the country. Nationwide, housing starts dropped by three per cent. On a seasonally adjusted basis, Alberta homebuilders started construction on 42,206 new houses in the province, making October only the second time the total has exceeded the 40,000 mark since 2007. The figure, used by CMHC to account for considerable swings in monthly estimates is expressed as an annualized rate, meaning that if the pace of construction set in November was to continue for twelve months, there would be this many new homes built in a year.

starts A3

cody stuart, Managing Editor

SINGLE FAMILY

NOV11 3761 DEC11 2761 2980 JAN12 3093 FEB12 MAR12 3367 3501 APR12 MAY12 3842 3817 JUN12 JUL12 3646 AUG12 3535 SEP12 3486 OCT12 3114 2586 NOV12 DEC12 1859 JAN13 2075 2048 FEB13 2727 MAR13 2977 APR13 3311 MAY13 3199 JUN13 2917 JUL13 2791 AUG13 2789 SEP13 2705 OCT13 2171 NOV13

MLS® MONTH END INVENTORY* NOV ‘11 – NOV ‘13

Lumino South – New affordable housing option opened CREB® STAFF

D

ec. 9 marked the grand opening of Lumino South, an affordable housing option for Calgarians, which was built by a collaboration of the City of Calgary, the province and Kanas Corporation. Lumino South is located at 5717 2 Street SW and has 88 units offering either one or two bedroom units for low to moderate income Calgarians. The building is located near parks, shopping centres and has easy access to transit.

*All statistics based on monthly data compiled by CREB® via MLS® activity.

RIDEAU PARK

lumino A3

RIVERSTONE IN MISSION

603 3339 RIDEAU PL SW

1605 318 26 AVE SW

$389,500

$995,000

Treat yourself to the best location and lifestyle with this inner-city oasis! Atop a tranquil hill surrounded by the river valley, this beautifully renovated suite enjoys dazzling panoramic views of the city skyline. The open kitchen is light and bright, with stainless steel appliances and premium granite counters. MLS®C3592975

Full-on panoramic views of the Elbow River and mountains will captivate in the generous open-plan principal rooms, while grand windows in the master suite invite the lights of downtown in. The suite has been renovated top-to-bottom with walls moved, floors re-done, and baths and kitchen reimagined in granite, stainless steel, slate and cherry. MLS®C3588157

BRIAN MAHONEY & ROB PARK

contents news briefs

A3

event listing

A6

mortgage rates

A8

industry

A9

Contractors charged

Market

A9

BMO Housing Report

how to

A10

Hang Christmas lights

map

B1

open houses

B11

RIVERSTONE IN MISSION

COMING SOON! Beautifully renovated suite in dignified Riverstone. 2 bedrooms, 2 bathrooms. Open plan with over 1800 sq. ft. of sublimely finished living space. Breathtaking city skyline views, hardwood, tile, high-end appliances, full home automation and 2 titled indoor parking stalls all in one of Calgary’s most luxurious and amenity-loaded buildings. Please call.

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