Crebnow jan 27, 2017

Page 1

CUTTING THE CORD

Condominiums

Households turn away from cable

Luxury condo market shows staying power

POP-UP GOES THE STORE An emerging trend

DIGITAL DOWNLOW A6

COMMERCIAL A2

A4 FREE jan 27 to feb 2 2017 issue 07-03 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

real estate news from industry experts

NEW NORMAL

Greenwich community in northwest Calgary to put live/work/ play into practice BARBARA LIVINGSTONE for creb®now

C

algary’s “new” northwest will have a familiar face touting a popular concept starting this year. Industry veteran Melcor Development has announced pre-sales for its new community of Greenwich will start this March. The 16-hectare live/work/play development to be located just off Highway 1 toward Banff will see a mix of residential, retail and commercial offerings. It is a mix Graeme Melton, vicepresident of community development

for Calgary, believes will be a big draw for not only Greenwich residents, but those in neighbouring communities. “In the last 20 years we’ve seen communities being developed, often with no retail component — or very little,” he said. “It has become the norm for Calgarians to get into their car before setting out for even the smallest daily activity. I think the need to live in a community, where you can walk to your spin class, or ride your bike to pick up groceries, is there.” At the same time, Melton said Greenwich will encourage residents to be an integral part of their walkable community, whether it’s by having coffee with neighbours at the central plaza, or taking a bike ride with friends along the river. Greenwich’s preliminary plans include community gardens, parks and bike and walking pathways. The community will be part of a growth trend that started last year when Calgary’s north sector was the busiest area of new residential growth — with predictions that trend will continue in 2017. At completion, Greenwich is

CITY OF CALGARY

expected to have 900 multi-family residential units, made up of four- to six-storey condo buildings, as well as townhomes and rental offerings. The first two homebuilders in the development will be Cove Properties, which will offer condo homes, and Landmark Homes, which will focus on townhomes. Infrastructure construction is currently underway on the site just east of Stoney Trail, across from Canada Olympic Park. The property sits about a 15-minute drive from downtown Calgary, and close to the University of Calgary and both Foothills and Alberta Children’s hospitals. Melcor marketing manager Catharina Mendonca said the site will be unique with its location along the Bow River and the company’s vision of a small community surrounded by boutique retail and office space. She added the retail component will serve not only Greenwich, but also surrounding neighbourhoods such as Valley Ridge, Crestmont, Tuscany and Scenic Acres.

GREENWICH A3

MLS® NEW LISTINGS* DEC ’14 – DEC ’16

PHOTOS COURTESY MELCOR DEVELOPMENT

Walkable spaces with retail located moments from your door, Melcor’s newest development, Greenwich, is expected to be a draw for young urban professionals and those looking to downsize.

COUNCIL CAPS CONTENTS MUNICIPAL NON- COMMERCIAL RESIDENTIAL BUYER PROFILE TAX INCREASE MORTGAGE RATES Retail

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2,093 DEC14 1,381 JAN15 3,288 FEB15 2,950 MAR15 3,136 APR15 3,064 MAY15 3,161 JUN15 3,122 JUL15 2,733 AUG15 3,081 SEP15 2,678 OCT15 2,182 NOV15 1,491 DEC15 2,741 JAN16 2,906 FEB16 3,227 MAR16 3,217 APR16 3,319 MAY16 3,078 JUN16 2,683 JUL16 2,759 AUG16 2,976 SEP16 2,364 OCT16 1,985 NOV16 DEC16 993

River’s Bend

CREB® STAFF

NEWS BRIEFS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3

I

Luxury

n response to the current economic downturn, City council has approved a $45-million relief program for non-residential property owners impacted by the tax redistribution caused by the drop in market value in the downtown core. Under the Municipal NonResidential Phased Tax Program, the 2017 non-residential municipal property tax increase will be phased in this year.

TAXES A3

*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.

Exceptional location, setting, views!

159 SADDLE RI

$949,000

Great location in unique community of Saddle & Sirloin. Borders onto crown land and close to K-Country. Features a very large common pasture (horse friendly), a 100’x200’ outdoor riding arena, located right beside Bragg Creek. This exclusive home includes an elevator, expansive master bedroom and ensuite, a gourmet kitchen, a comfortable family room, a library and, many other fine features. Gorgeous living rm/dining rm highlighted by three arched windows. MLS®C4076381

Lee Edwards 403.540.0540

CONDOMINIUMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4

DIGITAL DOWNLOW. . . . . . . . . . . . . . . . . . . . . . A6 The end of cable?

MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B15 @crebnow

CREBNow

@crebnow

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Estate living in Wintergreen Woods

7 COYOTE CL

braggcreekrealestate.com lee@braggcreekrealestate.com

$979,000

Very private at the back of a small cul-de-sac on the largest lot. Surrounded by expansive lawns and majestic pines. The curvedstair entry is your first of many fine features. Vaulted-ceiling living room seperated from dining room by a 2-sided fireplace; family room just off the kitchen. A kitchen nook leads to garden doors to a very large deck; a second staircase leading to a huge bonus room over the garage, with windows on 3 sides and opening to a large upper level deck; the stunning master bedroom and en suite; and lower level development with 2 bedrooms, full bath, a large games area, and a media room. Kananaskis country and all its glory is just minutes away... MLS®C4079190

CANYON CREEK


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