Crebnow nov 27,2015

Page 1

IT’S A DOG’S WORLD

Rinks reborn

Communities becoming gathering hubs for Calgarians and their four-legged friends

Outdoor skating enjoying a resurgence in Calgary

MUNICIPAL A5

A9

FREE nov 27 to dec 3 2015 issue 05-46 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

real estate news from industry experts

CREB®Now Exclusive

THE LRT BUMP? As city plans next phase, new study reveals light-rail transit has positive effect on property prices

PHOTO BY MICHELLE HOFER/FOR CREB®NOW

JOEL SCHLESINGER for creb®now

L

ight-rail transit could boost the value of your home. At least that’s the general finding of a new study from the University of Calgary. According to new research obtained exclusively by CREB®Now and completed by Economics master’s degree student Laura Dick, LRT line development has had a modestly positive effect on the price of housing located close to stations along new lines in Calgary. “Properties within zero to 500 metres of a station saw, on average, an

increase in sales price of about 1.5 per cent compared to properties that are 2,000 metres or more away from a station,” said Dick, whose recently completed work is still to be published in an academic journal. Basing her research on the city’s LRT expansion between October 2001 and August 2014, Dick examined what impact, if any, 17 new stations had on prices of homes of all kinds within different proximities to the stations. What she found is homes closer to lines experienced greater increases in value once construction of the LRT stations was completed, compared with those two kilometres or more

MLS® NEW LISTINGS* OCT ‘13 – OCT ‘15

OCT13 2,794 NOV13 2,521 DEC13 1,825 JAN14 971 FEB14 2,396 MAR14 2,711 3,319 APR14 3,753 MAY14 4,327 JUN14 3,817 JUL14 3,219 AUG14 3,147 SEP14 3,259 OCT14 2,919 NOV14 2,093 DEC14 JAN15 1,381 FEB15 3,288 MAR15 2,950 APR15 3,136 3,064 MAY15 3,161 JUN15 3,122 JUL15 2,733 AUG15 3,081 SEP15 2,678 OCT15

CITY OF CALGARY

away from a train stop. The City of Calgary would not comment directly on the study, but did reiterate its commitment to transitoriented developments (TODs) as a means to reduce urban sprawl and traffic congestion as the city’s population is expected to grow by about 17 per cent or more in the next decade. In particular, senior planner Joachim Mueller noted the extension of the Green Line – consisting of 11 new stations from North Pointe in the north central part of the city to Seton in the southeast – will play a central role in its plan. “The station locations and align-

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

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ment are the result of a collaborative approach to planning in which transportation and transit planning have worked from the beginning with land use planning,” said Mueller. “The objectives of this approach were to identify the best station and alignment options in terms of transit service and operational benefits, and to best enable transit-oriented development opportunities.” TODs are by-design high-density neighbourhoods supported by close proximities to rapid transit, he added. “Streets and block patterns are designed to be pedestrian friendly,” said Mueller. “Developments are gen-

University of Calgary Economics Graduate Laura who recently completed her thesis on how LRTs impact housing prices.

erally mixed use, offering an active streetscape.” The thrust behind TODs is to make car usage optional for residents in and around these developments, representing a departure from development in previous decades which were more automobile-focused.

LRT A3

COUNCIL VOTES CONTENTS NEWS BRIEFS TO CHANGE FIVE THINGS SECONDARY RURAL SUITE REGULATIONS EVENT LISTING

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Affordable housing Proudly Cochrane

CREB® STAFF

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t’s going to be a little easier for Calgarians looking to add a legal secondary suite to their property. In the latest development in the ongoing secondary suite saga, council has voted to relax the regulations on lot size and increase the amount of floor space allowed in the suites.

INDUSTRY A3

POP THE QUESTION. . . . . . . . . . . . . . . . . . . . . . . A7 East Village ambassador Zoey Duncan

RURAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A8 Lanark in Airdrie

MORTGAGE RATES . . . . . . . . . . . . . . . . . . . . . . . . A8 MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B15 @crebnow

/crebnow

crebnow.com

info@thehomehunters.com

www . thehomehunters . com sutton group canwest

Call Steve, Grant or Randy if you are considering buying or selling a home, or if you have any questions about the current real estate market!

403-460-2211


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