New Home Living - March 2015

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VOLUME 11 ISSUE 111 n MARCH 2015

contents

12 COVER FEATURE

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Modern Legacy Innovations by Jayman embraces the true beauty of Legacy

NEWS

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Housing outlook CHBA – Alberta predictions for 2015

Special Feature PUBLICATIONS AGREEMENT NO. 41072011.

RETURN UNDELIVERABLE CANADIAN ADDRESSES TO: Source Media Group Corp. 207 - 5809 Macleod Trail S.W., Calgary, Alberta T2H 0J9

Check out what’s happening in communities east of Calgary Included in this issue of New Home Living

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contents 45 18 30

10

FOCUS ON

Classy clean

Cleanliness is next to stylishness with new soap dispensers

SHOW HOME PROFILES

18 Ravenswood revival

McKee Homes brings more choices in Ravenswood

24 Beacon Heights beckons

Trico Homes’ releases 14 new models in northwest community

COMMUNITY PROFILE

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30 Timeless beauty

Legacy’s wide array of homes appeals to one and all

SHOPPING

40 Right on tap

From functional to fancy, kitchen faucets bring style to daily life

STYLE

45 Global style

Emerging design trends spotted in the 2015 Toronto International Design Show

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COLUMNS

49 Around Town 58 Hope at Large

ITEMS

8 Editor’s Message 52 Maps 56 Advertiser Index

editor’s message n

Oil slump dampens market forecasts

The plunging oil prices are certainly bringing plenty of gloom in the Calgary housing market, but not everyone is panicking. Some analysts even think the correction may ultimately be healthy for the market in the long run. We cover the possibilities of what the housing market in Calgary and Alberta will look for the year in our annual outlook feature, this time brought to you by CHBA – Alberta with a sidebar on what Calgary developers and builders think will happen in the market this year.

There are plenty of factors at play; lower oil prices will cause a downturn in the local economy, which will probably slow net migration to the city resulting in fewer home sales. However, the surprise lowering of interest rates by the Bank of Canada will support the housing market. Bucci Developments’ Mike Bucci also told us that builders can likely benefit from a lower labour costs that this scenario may bring with savings they can pass on to consumers. But Canadian Home Builders’ Association – Calgary Region President Wayne Copeland warns the weakened Canadian loonie may also hurt their buying power of materials sourced from the U.S. “That’s one factor that we didn’t have during the 2008 downturn, and we just don’t know how much this will affect the market down the road,” he says.

But it’s business as usual in most show homes that we visited for this month’s coverage of the latest and best new home models. We start in the new southeast community of Legacy where we find our cover feature of the month: Innovations by Jayman’s new single-car front attached garage homes. The Exud and The Azul, put simply, are the best way to accommodate single-family living with all the perks at an affordable price, they are a stylish alternative for buyers who might not like the idea of living in a condo but has a budget to stick to.

Next, we have McKee Homes in Ravenswood who are announcing the start of sales of their laned home products in this popular southeast Airdrie neighbourhood. Last but certainly not least is Trico Homes’ newly reopened Fairmont 2 in Beacon Heights in Sherwood.

But New Home Living is more than just homes, we also have a bunch of lifestyle features that help you make the most of life in the city. We have David Crosson giving us a taste of the emerging STYLEs from the International Design Show in Toronto he attended. While Kathy McCormick gives us the low-down on kitchen faucets in her Shopping story.

We also talk about Resolve and the battle to end homelessness in Calgary in our Around Town section. While Marty Hope gives us his take on how the market will unfold this year based on his interviews with experts and told in his own authoritative voice gleaned from decades in the business.

It may be a while before we see the level of new home development activity we saw in previous years, but you can be sure that New Home Living will still be here to show you the best of what help you pick the best one for you.

NEXT MONTH:

Garden design

@CalgaryNewHomes

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NewHomeLivingCalgary

PUBLISHER |

Source Media Group

info@sourcemediagroup.ca A S S O C I AT E P U B L I S H E R |

Jim Zang

jim.zang@sourcemediagroup.ca EDITOR |

Pepper Rodriguez

pepper.rodriguez@sourcemediagroup.ca ART DIRECTOR |

Jean Faye Rodriguez

jean.rodriguez@sourcemediagroup.ca GRAPHIC DESIGNERS

Rylyn Kvarnberg

rylyn.kvarnberg@sourcemediagroup.ca

Dave Macaulay dave.macaulay@sourcemediagroup.ca

Megan Sereda megan.sereda@sourcemediagroup.ca P R O D U C T I O N A D M I N I S T R AT O R |

Colleen Leier

colleen.leier@sourcemediagroup.ca EDITORIAL

David Crosson, Aaliya Essa, Marty Hope, Kathy McCormick ADVERTISING SALES |

Cindy Marks

cindy.marks@sourcemediagroup.ca ACCOUNTING

accounting@sourcemediagroup.ca DISTRIBUTED BY

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©2015 Source Media Group Corp. Material cannot be reprinted in whole or in part without written permission from the publishers. Source Media Group Corp. agrees to advertise on behalf of the advertiser without responsibility for claims or misinformation made by the advertiser and acts only as an advertising medium. Source Media Group reserves the right to refuse any advertising at its sole discretion.

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focus on

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Classy clean

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Cleanliness is next to stylishness with new soap dispensers n BY

Aaliya Essa

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WASHING YOUR HANDS constantly is still the best way of keeping you out of sick bay, but a soap bar isn’t the most practical way to do it. Liquid soap dispensers have become indispensable in the household for just this purpose, but who says they can’t be as decorative as they are practical? NL

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1] Glass 16oz Mason Jar Soap Dispenser, $10.99 at Bed Bath and Beyond.

2] Lips Soap Pump, $19 at Urban Barn.

3] Oxo Stainless Steel Soap and Lotion Dispenser, $19.95 at WilliamsSonoma.

4] SVARTSJÖN, $6.99 at IKEA. 5] Glass Soap Pump, $14.95 at Crate and Barrel.

6] Dixon Bamboo Soap Pump, $18.95 at Crate and Barrel.

7] SÄVERN, $14.99 at IKEA. 8] Foaming Soap Pump Dispenser, $19.99 at Bed Bath and Beyond.

9] SimplehumanTM Rechargeable Sensor Soap Dispenser, $59.99 at Williams-Sonoma.

10] Carynthum Soap Dispenser, $19.95 at Pier1 Imports

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| ADVERTISING COVER FEATURE |

MODERN LEGACY Innovations by Jayman embraces the true beauty of Legacy

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nnovations by Jayman has made a name for itself as a top move-up and starter home builder and the stunning width and breadth of their line is in full display in the bustling new community of Legacy.

From double- and single-attached front garage homes, to laned homes, and now Street Town homes, Innovations by Jayman has covered this new southeast community with homes that focus on Legacy’s timeless, family-friendly character. And always — like their name says — with innovation in mind.

Take for example their popular single-car front attached garage homes — the five models they offer of this uniquely functional design all have one thing in common: giving homeowners an affordable option in single-family living with a healthy mix of style and convenience.

The Exud and The Azul show homes are the perfect examples of the kind of modern, stylish comfort that Innovations by Jayman has perfected. Open concept layouts make the most of available space creating an environment suitable for entertainment and intimate moments. Storage is never a problem as the oversized single-car attached garage has ample room for storing sports gear and even a large handyman station.

Both have an available bonus room option as well, says Area Sales Manager, Robin MacCullouch. “Almost all of our customers choose this option as it does add a convenient space where the family can gather for movie nights or board games.”

The Azul and The Exud also include an upper floor laundry facility — always high on the wish list of homeowners — which shows the expertise Innovations

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| ADVERTISING COVER FEATURE |

Photos on this page are of The Azul show home.

by Jayman has in creating a functional design flow in the most challenging circumstances.

The 1,634-square-foot show home of The Azul is built to show its full potential as this one in Legacy features hardwood flooring, full height cabinetry in the kitchen that accentuates the nine-foot ceilings of the main floor, and the quartz countertops bring a taste of elegance. The basement is also developed including a home gym and full bathroom.

“Developing the basement is a service we can provide our buyers, it just adds to the equity of the home and realizes its full potential,” MacCullouch says.

The full potential for both is on display with the basement development in each show home. “It’s a service we extend to all our clients,” MacCullouch says.

The Exud show home has in fact been sold already under the lease-back agreement of Jayman BUILT — Innovations by Jayman’s mother company. “It’s been a popular arrangement that allows buyers to easily own a luxury show home style home,” MacCullouch points out.

There will be more opportunities to own Innovations by Jayman’s single-garage homes, as Legacy just opened the next phase with single front drive homes starting at $399,900. To add to the mix, the award-winning builder has started sales for their Street Towns in Legacy.

The 42-unit Legacy Street Towns will be the latest in the builder’s successful line that has been warmly received in Chaparral Valley in southeast Calgary, as well as in the communities of Sunset Ridge and Riversong in Cochrane.

These are fee-simple townhomes ranging in size from 1,431 to 1,480 square-feet and start from

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| ADVERTISING COVER FEATURE |

Legacy is a community you can certainly set roots in and never have to leave. And Innovations by Jayman certainly makes up a significant portion of this promise with their distinctive home offerings. $339,900. Construction has already started as 10 units have been released for the Street Towns.

“The streetscape is very unique and individual-looking. This appeals to a lot of the buyers who are looking at that product because it’s not four identical houses in a row,” MacCullouch says.

But the beauty of buying a home here is the community itself, as Legacy promises to be not only your home for today but for the future.

The more than 1,000-acre community located just off Macleod Trail and 210 Avenue S.E. is blessed to have one of the most interesting topographies in the city. It sits on an escarpment at least 150-feet above the Bow River, and has Pine Creek running by it.

Legacy’s connection to nature is underscored by a 300-acres natural environment reserve at its very heart.

On offer are a variety of homes fit for every stage of life. The comprehensive range covers everything from a bachelor’s pad, to stylish family-oriented estate homes, to a snowbird’s lock-and-leave nest — Legacy is a community you can certainly set roots in and never have to leave. And Innovations by Jayman certainly makes up a significant portion of this promise with their distinctive home offerings.

“There will also be 15 kilometres of pathways running through Legacy, these are dedicated walkways that run through the green space and not sidewalks,” says Sales Associate Wendy Lee-Chu. Many customers are excited for the opening of a Calgary Catholic School Board High School by the 2017-18 school year. “This is something that a lot of our buyers are looking forward to,” she adds.

When completed in another 10 or 11 years, Legacy will have 4,000 single-family homes, 3,000 multi-family units, 800,000 square-feet of retail and commercial space, four schools, 300 acres of environmental reserve, 10 miles of interconnected pathways, a community garden, and numerous smaller mixed-use sites. n

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Photos on this page are of The Exude show home.

FAST FACTS: COMMUNITY: Legacy DEVELOPER: WestCreek Developments BUILDER: Innovations by Jayman STYLE: Single-car front attached garage homes SIZE: From 1,380 to 1,667 sq. ft.

PRICE: From $399,900 ADDRESS: 11 and 15 Legacy Close S.E. HOURS: Monday to Thursday 2 to 8 p.m., weekends and holidays noon to 5 p.m.

DIRECTIONS: South on Macleod Tr. exit east on 210 Ave. S.E. and follow the signs.

For more information, visit www.jayman.com

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TOP The 2,267-sqaure-foot home has a distinct estate feel to it and the open concept floor plan lends a functional aesthetic to the main floor. The massive central island with granite top and extended eating ledge is one of its most complemented features. The flue-style hood fan over the stovetop on the island gives it a Martha Stewart-esque elegance.

BOTTOM LEFT The Balinderry River’s classic profile fits the family-friendly ambience of Ravenswood, but why the community is such a big hit among their buyers with young children is that there is already a K-12 French school within the neighbourhood and a new K-5 public school is scheduled to open in the next school year within easy walking distance.

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McKee Homes n show home profile

Ravenswood revival McKee Homes brings more choices in Ravenswood n WRITTEN BY

Pepper Rodriguez

FOR NEARLY THREE decades, McKee Homes has been an integral part of Airdrie’s home building industry, as the family-run business has developed a distinct feel for the needs of the local market with their distinguished line of single-family homes. Today, their new laned homes in Ravenswood promises to bring more choices for a relaxed, convenient and affordable family-friendly lifestyle in one of the city’s most sought-after communities.

According to area manager Doug Kirk, McKee Homes is releasing 16 two-storey laned home models in Ravenswood starting from 937 square-feet and priced from the $375,000s. “They will all be three-bedroom with two-and-a-half bath models designed with the quality and attention to detail that McKee Homes has been known for,” he says.

Bungalow models will also be available.

These new laned homes will undoubtedly appeal to first-time homebuyers and downsizers, but also to people who want to build bigger garages, Kirk says. “People who need more space for parking than what you can normally get in a front-attached garage will love the bigger room for garages our laned homes can provide. This homes also come with a front porch for a more welcoming curb appeal,” he adds.

In the meantime, McKee Homes in Ravenswood will still be doing business in their The Balinderry River show home at 115 Ravenskirk Road. “It’s a great home to show our expertise and level of craftsman-

ship, it was one of our best-selling models in Ravenswood and people really loved the roomy kitchen with its big central island,” Kirk says.

But, like every other home from McKee Homes, its biggest appeal is the flexibility of this long-admired builder to accommodate customization requests from their buyers.

“We have no problem helping buyers realize design changes for their home that will suit their lifestyle.

“We at McKee understand the needs of the today’s family and we design our houses with an eye at making life a little bit easier on them,” says McKee Homes President, Elaine McKee-Doel.

The Balinderry River is still available in other Airdrie neighbourhoods where McKee Homes builds, and starts from $565,000 including lot and GST. But the show home itself is priced at around $645,000 and will be available for a September possession.

LEFT The stately character of The Balinderry River is in full display in the living room with its cantilevered gas fireplace framed by a graceful mantle. The wrought iron railing of the staircase provides an even more dramatic background.

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show home profile n McKee Homes

fast facts BUILDER: McKee Homes AREA: Ravenswood, Airdrie DEVELOPER: Qualico Group STYLE: Two-storey, three-bedroom, single-family home SIZE: The Ballinderry River show home at 2,267 sq. ft.

PRICE: The Ballinderry show home is available for $645,000 for a September 2015 possession ADDRESS: 115 Ravenskirk Rd. DIRECTIONS: North on Queen Elizabeth II Hwy., east on Yankee Valley Blvd. and right on King’s Heights Gate and follow signs.

HOURS: Monday to Thursday, 2 to 8 p.m., weekends and holidays noon to 5 p.m.

WEBSITE: www.mckeehomes.com

RIGHT The whimsical design expertise of McKee Homes is revealed in this imaginative little girls room created in one of the two spare bedrooms. “This is a perfect home for a growing family, the spare bedrooms have a lot a space to accommodate the needs of children as they grow older,” Kirk says.

OPPOSITE PAGE BOTTOM The white tile elegance of the master ensuite makes it a dreamy retreat with the dark double vanity with granite countertop and the make-up table on the other side adding considerable panache and practicality.

The spacious walk-in closet is by the glass shower stall. NL

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BELOW The enormous bonus room at the top of the stairs provides a convenient extra living space for the family where they can gather to watch movies or play games in total comfort.

It’s also more than big enough host NHL playoff parties with friends, too.

OPPOSITE PAGE TOP The true test of any master builder is how much importance they put in designing the master bedroom, and you can see with the architectural detail that McKee Homes brings to the master bedroom of The Balinderry River show home that they are an expert in such matters. There is good use of space with plenty of room for additional furniture, and doesn’t take any space away from the other bedrooms.

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Beacon Heights beckons Trico Homes’ releases 14 new models in northwest community n WRITTEN BY

Pepper Rodriguez

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Trico Homes n show home profile IT WAS A CASE of being too successful. Trico Homes had such a tremendous response to their line of homes in the northwest community of Beacon Heights two years ago that they soon ran out of land.

“We had to close the show homes then since we had nothing to sell,” says area manager Crystal Chu. But the multi-awarded builder is seemingly picking up where it left off as they launch into the new phase of this popular, amenity-rich neighbourhood.

The Fairmont 2 show home was reopened last month, and has again attracted a rush of interested visitors — the show home was packed on an early weekday afternoon that New Home Living was there.

What could be a better testament to Trico Homes’ vaunted quality construction than have one of its show homes close for nearly two years and reopen as if no time had passed?

Now, with more land available in this Intergulf-Cidex community, Trico is offering 14 different move-up homes here from 1,979 to 2,750 square-feet and starting from the $590,000s up to the $700,000s. Chu says the Fairmont 2 is available currently at $609,000 including house, lot, GST and deck on a walk-out lot.

Trico is the exclusive builder in this amenity-rich community located behind the massive Beacon Hill commercial centre and just off Stoney Trail. But more than this spectacular location, Trico’s two-storey and bungalow models here have been a hit with a varied demographic — from young couples, families with kids and even downsizers not ready to live in a condo and who like the idea of single-level living bungalows offer.

Of course, the peerless level of finish and design flow that Fairmont 2 exhibits is the icing on this pleasurable cake of home living. “The Fairmont 2 has a stylish punch followed by sensible practicality with all the must-have features growing families want and need, including a central bonus room and upstairs laundry,” Chu says.

TOP The open concept design works to perfection in Trico Homes’ Fairmont 2. The large central island with granite top provides a functional focal point for all activity on the main floor, whether for entertaining or working. The optional panel pantry design is an innovative approach that blends functionality and style.

BOTTOM LEFT The spacious living offered along the main floor is accentuated by the nine-foot ceilings and upgraded hardwood flooring. The fireplace at the back of the home framed by the large windows provides an executive élan.

“Our new models have the fireplace on the side of the home,” Chu says.

BOTTOM RIGHT The Fairmont 2’s exterior fits with the family-friendly environment of Beacon Heights. “But one thing that really attracts buyers here is that the community is zoned for the Sir Winston Churchill high school, one of the most prestigious in Calgary,” Chu says.

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show home profile n Trico Homes

ABOVE The bonus room at the top of the stairs is an innovative approach, as not only does it provide a comfortable environment for the family to gather and provides each member with privacy, having this in the middle of the home guarantees that the bedrooms at each end of the home get the big windows.

RIGHT The luxurious environs of the attached ensuite off the master bedroom are one of the must-haves of most buyers and the Fairmont 2 comes through in spades. The upstairs laundry is another functional luxury afforded its owners.

OPPOSITE PAGE The designer finish of the master bedroom reveals the full potential of the room, including designer wallpaper to create a feature wall and stylish draperies to accentuate the room’s elegance. Notice how roomy it remains and can comfortably accommodate a king-sized bed and bureaus. NL

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fast facts BUILDER: Trico Homes COMMUNITY: Beacon Heights in Sherwood DEVELOPER: Intergulf-Cidex STYLE: Two-storey move-up home SIZE: Show home is at 2,053 sq. ft. but can start from 2,079 sq. ft..

PRICE: From $609,000 includes lot and GST, as well as deck on walk-out lot.

ADDRESS: 221 Sherwood Hts. N.W. DIRECTIONS: West on Stoney Tr., north on Sarcee Tr. and right on Sherwood Blvd. and follow the signs.

HOURS: Monday to Thursday 2 to 8 p.m., Friday, weekends and holidays noon to 5 p.m.

WEBSITE: www.tricohomes.com

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Spruce Meadows Tr SE

Stoney Tr SE (Hwy 22X) Ma

194th Ave SE

cle od

210th Ave SE

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community profile n Legacy

Timeless beauty n WRITTEN BY

Pepper Rodriguez

F R O M A O N E - B E D R O O M condo to million-dollar mansion on a ridge, Legacy has a home to suit any lifestyle in any stage of life. In fact, the southeast community’s timelessness is its lasting legacy.

Legacy has it all — from a bachelor’s pad, to stylish family-oriented estate homes, to a snowbird’s lock-and-leave nest — it is a community you can certainly set roots in and never have to leave, says Jared Goldade, the development manager of WestCreek Developments.

And it’s all coming together faster than expected.

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n community

Legacy’s wide array of homes appeals to one and all “Legacy now has over 1,000 serviced lots. There are an additional 500 plus coming in 2015. The community is really filling in great and residents can start to feel that are not living in a construction zone,” Goldade tells New Home Living. “Our first phase is virtually sold out and we are already into Phase 8 and 9.” Legacy will have around 7,000 homes on build out.

Even more welcome news is that Legacy is now getting a Calgary Catholic School Board High School, which is expected to open in the 2017-2018 school year. “Westcreek is extremely excited for the residents of Legacy and all of southeast Calgary where there is a real need for additional schools,” Goldade says.

What has made Legacy stand out is that WestCreek chose to prioritize building their amenity areas to give buyers a better idea of the kind of lifestyle that awaits them in Legacy.

“We wanted to establish the feel of the community. So it was important for us to have the parks, entrance features and landscaping done so that people can already visualize the community they will be living in. We wanted to make buyers proud of the community, so we put all that work on developing these features up front,” Goldade says.

The appealing entrance feature calls to mind ancient Roman ruins, as well as a clock tower that captures the timeless quality of the land are already in place, as are some of its parks and pathways.

“There is a great response to Legacy and I think that people are really buying into the vision of Legacy,” Goldade says, adding that the entrance feature really set the theme of timeless architecture and timeless building materials as they are made with real stone. “The building materials used in Legacy is an important issue for us as we are trying to construct a community that looks as good today as it will 20 years in the future.”

The more than 1,000-acre community located just off Macleod Trail and 210 Avenue S.E. is blessed to have one of the most interesting topographies in the city. It sits on an escarpment at least 150-feet above the Bow River, and has Pine Creek running by it. Legacy’s connection to nature is underscored by a 300-acres natural environment reserve at its very heart.

“We will have 15 kilometres of pathways running through Legacy, these are dedicated walkways that run through the green space and not sidewalks,” Goldade points out. “This just emphasizes our com-

profile

“There is a great response to Legacy and I think that people are really buying into the vision of Legacy.”

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community profile n

fast facts COMMUNITY: Legacy DEVELOPER: WestCreek Developments

mitment to get our residents to fully enjoy Legacy’s strong connection to nature.”

Legacy also has one of the most extensive home builder partners in Calgary, gathering 15 of the most prestigious names around offering everything from condos in the $350,000s to estate homes from the $700,000s.

There are a lot of things to look forward to in Legacy this year. On the single-family side of the community, Legacy will be opening new show homes in the move-up market this year.

“Sterling Homes, Calbridge Homes, Stepper Custom Homes, Trico Homes, and WestCreek Homes have all recently opened or will be opening new show homes,” Goldade says. “In addition we will start construction on our escarpment show homes for the high-end market in 2015.” There are currently five single-family show home parades open in Legacy.

The community also has seven multi-family projects that have either started or are about to start. Homes by Avi, Innovations by Jayman, and Trico Homes have townhome projects, while Carlisle Group and Brad Remington Homes will have apartment style condos.

“Legacy truly is a timeless community for a lifetime. You can buy your first home and upgrade to your dream home. This is what we would like people to really see about Legacy,” Goldade says. NL

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BUILDERS: Multi-family: Carlisle Group, Homes by Avi, Innovations by Jayman, Trico Homes, Brad Remington Homes Single-family: Albi Homes, Calbridge Homes, Lifestyle Homes, Morrison Homes, Shane Homes, Stepper Custom Homes, StoneHedge Homes, Sterling Homes, Trico Homes, WestCreek Homes PRICE: Condos from the $130,000s, semidetached homes from the $350,000s, laned homes from the $400,000s, move-up homes from the $500,000s, and estate from the $700,000s DIRECTIONS: South on Macleod Tr. and left on 210th Avenue and follow the signs HOURS: Check with specific show homes. But usually Monday to Thursday 2 to 8 p.m., weekends and holidays noon to 5 p.m.

WEBSITE: www.legacylife.ca

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news

Housing outlook CHBA – Alberta predictions for 2015

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oncerns about falling oil prices and Alberta’s economy in 2015 are real and were highlighted by Premier Jim Prentice in his December 15 announcement that the government would immediately seek to control spending by limiting hiring, purchasing, travel, training and discretionary grants. The Premier also announced he would lead a new seven-member committee to work on the provincial budget to be announced in the spring. “This is not budgeting as usual,” Prentice said.

CHBA – Alberta Economic Analyst Richard Goatcher has prepared an analysis to assist home builders and buyers plan for a period when concern over the impact of lower resource prices on all sectors of the economy will dominate provincial debate. Here are some of the highlights.

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RICHARD GOATCHER Economic Analyst, CHBA – Alberta

What we see as 2014 draws to a close:

• Statistics Canada’s labour force survey numbers in November showed little impact of the recent drop in world oil prices. Building permit numbers in October were also still robust across the province.

• Capital spending plans are getting trimmed in the oil patch.

This will impact employment in Calgary first. Elsewhere later on.

• High levels of economic uncertainly will persist into the new year.

• The Edmonton region will be more vulnerable to provincial government belt-tightening than the rest of Alberta.

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What past experiences tell us about today’s economic situation:

• CMHC’s next forecast comes out in mid-February. They will make adjustments based on the year-end stats.

• Multi-family high-rise projects in Calgary and Edmonton are likely the most at risk because their completion dates are a long way off.

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• When the property markets turned in Alberta in mid-2007 there were many apartments underway but in a lot of cases the financial trouble for the developers didn’t arise until 2009-2010 when the buildings were completed and the construction loans were due to be paid out. This scenario, should it be repeated, will again take time to develop.

• In 2007, we saw a lot of unsophisticated investors (speculators) in Edmonton and Calgary flee the resale condo markets and active listings soared. We don’t believe there has been as much speculative activity this time round because we have not seen the historic price gains we saw in 2005 and 2006.

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Predictions on Migration and Housing Starts:

MIGRATION: • CMHC’s 2014 fourth quarter forecast calls for a 9 per cent drop from 2013 peak levels in total migration based on what they saw in the first half of the year. We’ll see the third quarter numbers before Christmas and the final 2014 numbers around March 21st. Based on the Labour Force survey numbers to November, this 2014 forecast still seems reasonable.

• In 2015, CMHC calls for a 19 per cent drop in total migration to 64,000 persons. This is well above the average for 2005-2013 so we think the risk is on the downside. This is because Alberta’s economic growth will slow relative to the rest of Canada so there will be less incentive to move here.

• The 2015 migration number could easily approach the 2015-2013 average of around 55,000. That would be a big come-down from 79,000 this year.

TOTAL HOUSING STARTS: • The 12 per cent gain over 2013 in CMHC’s recently forecasted 2014 all area starts number (as opposed to urban) seems reasonable. This final number won’t be published until mid-January because it is released quarterly. However, urban (10,000+ cities) starts were up 14 per cent to the end of November.

• The 7 per cent decline forecasted by CMHC in 2015 is largely due to the expectation of fewer multi-family starts in Calgary — which will hit a record this year. We think there is plenty of downside risk to that number, especially if MLS condo listings start to surge as some investors seek to exit the market.

• Based on the negative sentiment for growth in the provincial economy in 2015, the total starts number might be closer to what CMHC had forecast for 2016 (around 35,000) which is still well above the average for 2009-2013.

4

Our view on job creation in 2015:

• CMHC’s fourth quarter forecast calls for job creation of around 2.2 per cent provincially in 2015 (down from 2.8 per cent this year).

• Two months ago this would seem reasonable but now seems too optimistic.

• Job creation in Alberta could be easily drop to the 1-1.5 per cent range in 2015 but could get closer to zero if WTI stays low and the provincial government cuts deep in the spring budget.

Information provided courtesy: Richard Goatcher, Economic Analyst for CHBA – Alberta.

Email: richard.goatcher@chbalberta.ca

CHMC FORECAST TABLES - 2014 FOURTH QUARTER HOUSING MARKET OUTLOOK TOTAL ANNUAL HOUSING STARTS ALBERTA - ALL AREAS

CHMC 4TH QUARTER 2014 FORECAST Year

Alberta Net Migration

yr/yr net +/- Change

% Change

Units

% Change

2005

62,106

26,636

75.1%

2005

40,847

2006

70,673

8,597

13.8%

2006

48,962

2007

44,635

-26,063

-36.8%

2007

48,336

-1.3%

2008

56,985

12,350

27.7%

2008

29,164

-39.7%

2009

28,957

-28,028

-49.2%

2009

20,298

-30.4%

2010

21,677

-7,280

-25.1%

2010

27,088

33.5%

2011

45,587

23,910

110.3%

2011

25,704

-5.1%

2012

78,838

33,251

72.9%

2012

33,396

29.9%

2013

86,922

8,084

10.3%

2013

36,011

7.8%

Average

19.9%

Average

2005-13

55,153

2009-13

28,499

2014F

79,000

-7,922

-9.1%

2014F

40,400

12.2%

2015F

64,000

-15,000

-19.0%

2015F

48,962

-7.4%

2016F

58,000

-6,000

-9.4%

2016F

48,962

-4.3%

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WHAT CALGARY BUILDERS AND DEVELOPERS SAY. . .

Falling oil prices has put the housing industry in Calgary on edge, but it’s a more wait-and-see attitude that prevails among its home builders and developers.

A

JONATHAN ALLEN President Calgary Urban Equities

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SLOWING OF SALES velocity for both new and pre-owned homes is predictable over the short term.

Purchasers may delay their decisions in anticipation of price drops, however the Calgary market continues to be undersupplied for multi-family housing in the short term as well. This means that most developers of multi-family product that is scheduled to deliver occupancy in 2015 and 2016 will likely not reduce prices and when the market realizes this, purchasers who cannot defer their decision for more than a few months can be expected to act before the end of the year.

Developer projects, which are currently in the planning or early pre-construction sales phases may extend their timelines pending greater certainty around price

F COURSE BUILDERS in our city and CHBA – Calgary Region continue to monitor the economic conditions in our province and the drop in oil prices that have affected the world. We are watchful and ready to alter business plans to adjust to the new reality quickly.

But it still remains to be seen if this is a permanent, or at least prolonged, situation.

Yes, we are cautious; yes, we are watchful. But it is still early and not time to jump to conclusions. We believe

levels and absorption. Some developers have purchased land at higher prices in late 2013 and 2014 for projects which may no longer appear economic at the moment, however they are unlikely to ‘dump’ these sites and more likely to hold on for improved market conditions. Land prices are therefore expected to remain ‘sticky’ and not decline. All this will have a supportive effect for pricing and delivery of projects, which are currently under construction and / or nearing completion.

It will also support condo pricing in the medium term as the risk of oversupply in 2017 and beyond is diminished with fewer projects commencing construction in 2015 than might otherwise have been the case if the oil price shock and ‘ripple effect’ had not occurred.

consumers have adopted a wait-andsee attitude as the negativity and uncertaintly prevail. And that is no more than good business sense.

We believe there are still strong economic indicators in the province. We believe there is still pent-up demand to house the rcord number of people who came to Calgary last year. Last year was a record for housing starts, so it’s unrealistic to think they would remain that high.

WAYNE COPELAND President Canadian Home Builders’ Association – Calgary Region

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news n

F

PARHAM MAHBOUBI Vice President Marketing & New Developments Qualex-Landmark Group™

C

OR THE LAST 15 years Alberta has experienced numerous fluctuations in oil prices, yet has managed to maintain steady economic growth. There is no question that the Calgary economy is closely tied to the energy sector; however, its economy is not as vulnerable to fluctuating oil prices as may be public perception. No doubt lower oil prices will have a short term impact on the employment sector with some tightening of the belt; however, it is also important to remember that other important factors such as extremely low mortgage rates, especially the Bank of Canada’s recent decision to cut its key interest rate by 0.25 per cent. We also need to keep in mind that oil prices will not remain low forever.

OMING INTO THE final quarter of 2014 we were projecting growth in 2015. We’ve since revised that to a decline of up to 10 per cent depending on City, quadrant, and product type. We still see a demand in certain areas of the market, and especially for a strong community like Mahogany, which was the best-selling new community in Calgary last year. That being said, we — along with most in the industry — are taking a wait-and-see approach in anticipation of better economic clarity in the next two to four months at which point we can better adapt to the longer-range picture.

For now, homes are still in demand, and we’re still seeing sales.

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Calgary is continually evolving and is not the same city as it was during the 2007 global economic downturn. Calgary has increasingly gained a national and international reputation for being one of the best places in the world to live.

Certainly the 2015 predictions that the real estate market will be softer than 2014 may be accurate; however, we believe there is still good demand for condos in Calgary.

Oil prices may be low, but they won’t stay low forever. We have to remember that sales and construction cycles are two to three years. When a homebuyer puts down their deposit on a condo today, they still need to wait two to three years until the building is constructed. A great deal can happen in two to three years as we have seen before.

More than anything the decline in oil prices means a more conservative approach to planning for this year. We know buyers are concerned about what they hear on the news and from friends and family, and the full impact of that effect won’t be known until further into the year. We haven’t scaled back our lot production plan for this year as we still anticipate demand. The reality is that despite market uncertainty there are a large number of homebuyers out there who need and want to buy a new home, and we expect that a lot of those people are going to pick our communities.

CHRIS PLOSZ Senior Vice-President Hopewell Residential

shopping n

Moen Sullivan Pullout. Photo courtesy Home Depot.

RIGHT ON TAP

From functional to fancy, kitchen faucets bring style to daily life n WRITTEN BY

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Kathy McCormick

n

shopping

Photo courtesy Canyon Plumbing.

“Faucets featuring an invisible coating that resists finger prings and water spots will save customers time and effort when cleaning. On top of that, some of the stainless-steel faucets come with an anti-bacterial coating to also resist spots and keep the faucet cleaner.”

I

t started centuries ago as a simple pump whose pipe And manufacturers aren’t disappointing.

The pull-out and pull-down faucets today ran down into the earth to reach that precious comare the biggest innovation, says Samson — modity — water. Today, the venerable faucet is far more than a source of water: it’s a work of art. and Delta faucets lead the way, says Chupik.

“It’s all about the aesthetics,” says Jason Chupik, pres“Delta is the top kitchen brand because of the ident of Canyon Plumbing & Heating, one of the leading innovation, the technology and the breadth suppliers of plumbing fixtures in Calgary and a company of the line,” says Chupik. “They look at everythat many of the larger home builders use in their new thing — and it’s at a competitive price. homes. “They need to be fashionable and fit in with the “There are few things you use more in the home’s décor.” home than the faucet, so the wear-and-tear can That’s important, agrees Don Samson of Allan Forrest be pretty hard on them. For that reason, you Sales, which distributes plumbing and heating products want to choose one that is not only beautiful, in Alberta, including Delta faucets to Canyon. “The faucet but functional and practical as well — suited is the workhorse of the home. It’s one of the most used to your needs and the use,” Chupik says. fixtures for sure — and it’s in the kitchen which is the The latest innovation in pull-down faucets busiest part of the home. That’s where the party is, so actually has a “docking station” included, says the faucet today is the conversation piece.”

Samson. Located at the point of the faucet Today’s styles have changed dramatically from years where the hose pulls down, it is a simple maggone by, with everything from sleek and curvy contem- net technology to snap and secure the wand porary, to minimalist looks, to traditional and the popular in place so it doesn’t dangle, as is sometimes transitional style. And faucet finishes range from stainless steel, to polished brass, the problem with the pull-down models.

The ‘touch’ technology adds even more to and even solid gold. “They can range anywhere to $200 installed for a pull-out faucet, or $250 installed for a pull-down model, to well over $1,500 for high-end the functionality — and it’s certainly miles faucets — or more for the gold. The sky’s the limit,” says Chupik. ahead of the frustrating wave of your hands Without installation, a faucet ranges from $30 to $450, says Kelly Wells, asso- under the cold water taps at football stadiums. ciate merchant, kitchens and baths, for Home Depot Canada. “The faucets in the “Today’s technology is so sophisticated that higher price ranges can come with electronic touch features and electronic soap you only need touch the faucet anywhere with dispensers — a new innovation coming to Home Depot in June.” your body to get it going,” Samson says. If The Home Depot Canada carries not only Delta, but other national brands like Moen, American Standard, Kohler, and Pfister, along with their own brand Glacier Bay. And it’s all about those special features that set the faucets today apart from the hand pumps of yesteryear.

“Innovation in faucet electronics is hot right now,” says Wells.

»

“The faucet is the workhorse of the home. It’s one of the most used fixtures for sure — and it’s in the kitchen which is the busiest part of the home. That’s where the party is, so the faucet today is the conversation piece.”

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shopping n

Photos on this page are Delta Faucets from Canyon Plumbing.

Care of the faucet is relatively easy, say the experts. “Keep it simple.

Clean with a soft cloth and a bit of detergent and just wipe it dry.”

you’ve just kneaded bread, you don’t have to spend as much time cleaning your faucet as you do your pans when you’re done. No touch; no mess.

“You don’t contaminate the faucet by touching it with dirty hands,” Chupik adds. “It’s cleaner, safer and more hygienic.”

Some of the other new technologies make life easier, says Wells. “The Home Depot Canada aims to be a leader in innovation with • If you are replacing a faucet, consider the number of holes products such as faucets featuring an invisible coating that resists finger prints and water spots and will save that are pre-existing in the solid-surface countertop. “This customers time and effort when cleaning. On top of that, some of might affect what type of faucet you can purchase. However, the stainless-steel faucets come with an anti-bacterial coating to both one-hole and two-hole faucets come with deck plates also resist spots and keep the faucet cleaner.” that allow for conversion to three- and four holes. For example At Delta, a newer technology has just come out that’s great for kids while many faucets can be used in either a one- or three-hole and seniors in particular. A small light at the base of some of the configuration, if a two- or four-hole configuration is present, faucet models shows the temperature of the water coming out — red, you will need to consider the addition of something such as a soap dispenser to fill the other holes.” obviously is hot, blue is cold — a great safety feature.

Delta has also made its name with its Diamond Seal technology — • Consider the placement and style of the faucet. “Being able a special diamond-coated ceramic valve inside the taps that offer a to reach all corners for cleaning is something to keep in mind. smoother and more leak-proof operation, says Samson.

As an example, do not put a swivel-spout faucet off to one For the luxury homes, special faucets include the “Pot Fillers” — in- side. Pull-down faucets come in a range of heights and can dustrial taps that are sometimes placed over stoves, coming directly be selected to match the scale of the sink.” out of the wall to fill large pots, or other sink faucets in a large arch • One important consideration for Calgary comes from Samson. with a high-pressure nozzle with a lever to up the flow of water to “The cold water is not on a water softener, so the kitchen faucet help scrub pots. Just beware, says Chupik. Some of those models will be subject to more hard water here. As a result, because have the water under such pressure you could have a mess in a big of its frequent use, be conscious of that and invest in a good hurry if you turned those on without due care! faucet that will last.”

Care of the faucet is relatively easy, say the experts. “Keep Some other considerations when picking out a new faucet for your it simple,” says Wells. “Clean with a soft cloth and bit of dekitchen: tergent and just wipe it dry.”

• Consider where the sink is placed before you buy, says Wells. “Look for any obstructions behind the sink like a window,” says Wells. “This Adds Chupik: “Because of the finish, it won’t require abrasives. might affect the ability to properly clean the area.”

The faucet finish isn’t invincible, but it’s very, very durable.” NL

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n

style

Global style Emerging design trends spotted in the 2015 Toronto International David Crosson Design Show n WRITTEN BY

I

recently had the pleasure of once again attending the Interior Design Show in Toronto, IDS15, which is a must-see for Canadian interior professionals looking for inspiration.

The show is a great mix of both current and up-and-coming offerings and is, if nothing else, a great conversation starter when it comes to matters of design. Here are a few noteworthy prospects I selected for keeping an eye on at this year’s show.

BRIGHT INDUSTRIAL Reclaimed and industrial motifs are nothing new in interior design but they are being approached in a fresh new way through crayon-bright colours. Take, for example, Marco Pecota’s stunning

line of furniture fashioned of wood and enameled steel in such gutsy hues as orange, aqua and fire-engine red, among others. Similarly, Rubinet — already in the forefront of coloured bathroom fittings — has added joyful flourishes to components within its line, be they turquoise handles on a vintage-inspired faucet or a cherry-red shower head that looks like it came straight out of a 1950s YMCA locker room. Delightful.

»

Rubinet, a frontrunner in brightly hued fixtures, offers flourishes of colour to bring new life to traditional, utilitarian silhouettes.

Courtesy The Rubinet Faucet Company.

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style n Conjuring the double helix of DNA, Spanish manufacturer Parachilna’s Anwar series pendant fixtures were a fabulous focal point in Lightform’s IDS booth. Photo courtesy Parachilna.

and fabrics that not only fool the eye but our sense of touch as well. Rug manufacturer W Studio uses this to great advantage to create unique and exuberant offerings for all tastes.

Transitional is a term used for a style that can comfortably exist in both modern and traditional settings. Interestingly, this “Switzerland” of the design world was notably absent at IDS15.

ADVANCED GEOMETRY At one time, geometric influences were relegated to the expected roster of rectangles, squares, circles and triangles. IDS15 showcased a whole new crop of mathematically complex shapes, whether they were trapezoidal components of a hair-on-hide chair in the Prototype/Studio North section or spectacular pendant fixtures from Lightform that conjured the double-helix formation of DNA. So many more examples peppered the show floor and offered wonderful solutions for infusing life into rooms, especially those functioning under the dictates of harsh right angles.

TECHNICAL ASSISTANCE The role of technology continues to advance in the world of interior design in so many exciting ways. Stunning end tables showcased by Vancouver-based Quake demonstrated this handily, with intricate whorls and loops laser-cut into enameled steel cylinders to suggest bark. At Dystil, designer Dominik Gmeiner used a 3D printer to bring a pendant fixture to life, the resulting dirigible-shaped light covered in exquisite, frost-like facets generated collaboratively by an artist’s mind and a computer’s logic. Even old-fashioned 2D technology continues to dazzle, through digital printing on rugs

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IT FELT RIGHT This could be a by-product of some of the ‘70s themes we’re seeing at the moment but felted fabrics were in abundance at IDS15 in the form of upholstery, objects and even straps that helped secure mirrors to walls. Known for its durability and heathered visual depth, this (re)emerging material is one to watch — and embrace — in 2015 and beyond. Studio Lulo designer Jose Navarrete even chose a spectacular chromium yellow felt to showcase the elegantly spare Cosmo sofa he had on display, a clever choice that made the beautiful lines of his modular pieces truly shine.

BACK TO THE FUTURE Transitional is a term used for a style that can comfortably exist in both modern and traditional settings. Interestingly, this “Switzerland” of the design world was notably absent (or, at least, diminished) at IDS15, with exhibitor offerings firmly staking a claim in one camp or the other. More interesting still, the ratio seemed to skew slightly more towards a new version of traditional, somewhat pared back to its essential elements but still relatively staid nonetheless. Even IKEA, which usually showcases kitchens at IDS, opted for a two trad/one mod ratio and the results didn’t disappoint.

(Note: their new Sektion line of cabinetry is stunning and coming soon to a store near you.)

From tiles and textiles to faucets and furniture, everything old is new again and, speaking as a guy who’s mad for trad, I couldn’t be happier.

HYPHENATED HUES For those familiar with the colour wheel, we are definitely trending towards the tertiary.

What I call the “roommates” of the design world — hues such as blue-green, red-orange and yellow-green — stepped out in grand style at this year’s show, turning up in everything

n

style

LEFT: Liz Eeuwes’ charming wares, influenced by the muted colours of 1940s print work, exemplified a new generation of greyed pastels.

Photo by Liz Eeuwes.

BOTTOM LEFT: tudio Lulo designer Jose Navarrete selected vibrant yellow felt to showcase his stunning modular “Cosmo” sofa at IDS15. Photo courtesy Studio Lulo.

BOTTOM RIGHT: Traditional tipped the scales when IKEA showcased their new Sektion kitchen line at Toronto’s Interior Design Show. Courtesy IKEA Canada.

from glass to fabric to appliances. Also present were pale, chalky colours that picked up where last year’s pastels left off, this time around more greyed and sophisticated than their more juvenile cousins. Designer Liz Eeuwes used the toned-down palette of 1940s print work as a jumping-off point for her lovely, whimsical accessories that were widely embraced by IDS attendees. Regardless of tint/shade/tone, 2015 looks like it will prove to be a colourful year for, well, colour and I am thrilled to see more consumers taking the plunge. In uncertain economic times we generally see optimistic yearnings reflected in our colour choices and by all indications the future will be bright for those with patience. Now if we can just get basic black (read: oil) to cooperate with the rest of the spectrum we’ll all be laughing… NL

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around town n

By Pepper Rodriguez

Oil slump lowers Alberta housing forecast ACCORDING TO CANADA Mortgage and Housing Corporation’s (CMHC) first quarter 2015 Housing Market Outlook, Alberta housing starts will decrease from 40,590 units in 2014 to 36,000 in 2015 and 34,500 in 2016.

“Lower oil prices will have a dampening effect on investment and economic growth, particularly in Alberta and to a lesser extent Saskatchewan.

This will contribute to slower employment growth and net migration, in turn slowing housing demand. With key drivers less supportive of housing demand and supply levels elevated in some markets, housing starts in the Prairie region are expected to decline in 2015 and 2016,” said Lai Sing Louie, CMHC’s Regional Economist.

The CMHC says that downside risks have increased since the previous forecast, due mainly to recent declines in oil prices. As a result, the agency has widened the forecast ranges for ® ® housing starts, MLS sales and average MLS prices to reflect these risks.

In Alberta, where the risks associated with oil prices are most pronounced, the CMHC says housing starts are expected to range between 23,400 and 38,700 units in 2015 and between

20,300 units to 38,000 units in 2016. MLS® sales are expected to range between 58,000 and 74,800 units in 2015 and between 50,900 units to 76,200 units in 2016. The average MLS® price is fore Housing starts in the Prairie region are projected to decrease from 55,067 in 2014 to 49,600 in 2015 and 48,000 in 2016.

While the large number of migrants to the Prairie region over past years will support sales in the resale market, economic uncertainty created by declining oil prices will impact employment and temper demand. In Alberta, after increasing by over nine per cent to 71,773 in 2014, MLS® sales will decrease to 71,100 in 2015 before edging higher to 71,600 in 2016 as economic conditions improve.

After leading the Prairie region with a 5.2 per cent price gain in 2014, Alberta will record more modest price growth moving forward. With rising listings and lower demand in 2015, price growth in Alberta will ease to below two per cent to an average of $407,100 in 2015 and $415,000 in 2016.

RESOLVE meets challenges of Calgary homelessness THE CAMPAIGN TO end homelessness in the city is getting the needed support from its homebuilders but more needs to be done, according to Jay Westman, one of Calgary’s most prominent builders, and a leading voice in the movement.

Westman, the chairman of Jayman BUILT and a cabinet member of the RESOLVE campaign to end homelessness, says Calgary’s homebuilding industry has so far contributed $15.4 million to the cause. “The RESOLVE Campaign has total commitments of over $40 million today,” he adds.

Jay Westman

Westman says there are 10 projects currently in the pipeline for RESOLVE that are in various stages of development. “I have a vision of this industry and the Homebuilders Foundation taking on one of these projects. We could then co-brand together and say that our residential housing industry has given over $20 million, enough for 500 individuals or families to have an affordable place to call home.”

RESOLVE is a partnership of nine established, experienced and respected Calgary social service agencies that have come together along with government with a single one-time goal: Build affordable rental housing for 3,000 vulnerable and homeless Calgarians. Its goal is to raise $120 million from the private sector to build the homes needed to help push Calgary’s 10 Year Plan to End Homelessness over the finish line.

»

From left: Allan Klassen, Albi Homes; Jay Westman, Jayman BUIT; Scott Haggins, Cedarglen Homes; Alan Norris, Brookfield Residential; Glynn Hendry, Qualico Developments; Dave Gladney, Morrison Homes; Monte Kendall, Homes by Avi; and Cal Wenzel, Shane Homes.

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around town n

Melcor’s Sherwood nears build out ONE OF MELCOR’S most successful developments is nearing its conclusion, as Sherwood in the northwest has only 30 lots left.

Catharina Mendonca, marketing manager at Melcor, says they are down to their final 30 lots for single-family homes. With homes starting from the $500,000s, Sherwood remains an affordable family-friendly community with well-established amenities surrounding it. Its prestigious group of builders include Homes

by Avi, Shane Homes and Genesis Builder Group offer their take on English and French architecture.

New multi-family projects are also coming online or already available, including Diseno from Landmark Homes, Willow from Avi Urban and The Timbers from Gablecraft Homes.

Sherwood

Fan design at Revolve’s Home + Garden booth REVOLVE FURNISHINGS IS taking its participation at this year’s Calgary Home + Garden Show to the next level. The Calgary-based furniture retailer will be showcasing a 1,000-square-foot home right in the BMO Centre, with the design chosen by Facebook fans.

The design to be featured will be the result of fans voting on the Home + Garden Events Facebook Page with the winning look unveiled at the Calgary Home + Garden Show on February 26, 2015.

According to Teri Salazar, show manager for the Calgary Home + Garden Show, the interactive element makes the Revolve Home even more exciting for consumers.

“The large majority of shoppers coming down the show are looking for ways to be inspired and ideas for refreshing and renovating their own homes,” explained Salazar. “The Revolve Home is the perfect way to show them what’s possible in as little as 1,000 square feet. The fact that the public gets to choose the overall look and feel of the space is the icing on the cake!” NL

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calgary map n Northwest/Northeast

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calgary map n Southwest

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Southeast/Calgary area n calgary map

AIRDRIE

OKOTOKS

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advertisers index n Avid Ratings page 22

Macdonald Development Watermark at Bearspaw page 44

Cedarglen Homes page 23

Mattamy Homes Cityscape page 3

CHBA Renomark page 28

McKee Homes page 17

Concept Coverings page 48

Resolve page 34

Genesis Land Canals Landing page 9

Stepper Custom Homes Kinniburgh page 60

Genesis Land Saddlestone page 7

Tamani Riversong page 16

Genstar Walden page 50

Trico Homes page 28

Gordie Howe C.A.R.E.S. page 51

United Communities Drake Landing page 59

Homes by Avi page 33

United Communities Nolan Hill page 43

Homes By Us page 56

Vesta Properties page 4

Innovations by Jayman Legacy FC, pages 12-15

WestCreek Developments Legacy Gatefold, page 2, 29

Jayman MasterBUILT page 57

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hope at large n

By Marty Hope

PUMP SLUMP Challenging year ahead for housing industry THE OIL INDUSTRY and government at all levels aren’t alone in trying to decipher what economic impact plunging prices could have if the decline is prolonged — the housing industry and potential purchasers are also contemplating their future decisions and game plans.

But still, as the second quarter of this already volatile economic year is about to dawn, it’s still considered too early to move to Plan B. At the same time, builders and developers aren’t deaf and blind to the fact that the issue is worrisome to consumers.

“Given long enough, the (oil price) issue will certainly affect the thinking, planning, and execution by individuals and business alike,” says Bill Bobyk, vice-president of Sterling Homes. “It’s still early in the game, so to speak, but I think the issue is on the minds of a lot of people.”

Coming, as the looming crisis did, in the latter part of 2014, it was too late to have much of a negative construction impact.

So, single-family builders were able to start work on 6,494 homes compared with 6,402 for the previous year.

“Coming off a strong year for the industry, I think most builders are in a good position currently to adapt as need be for possible market changes ahead,” adds Bobyk.

As for prices, well that depends, says the veteran building executive. He expects a slight moderation, more in line with the inflation rate that sits currently at plus or minus two per cent. “The offsetting factor to that moderation would be the shortage of serviced land and how much will be coming on stream — but I think the market

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in the second half of this year will be key to how this ultimately plays out,” he says.

It might not be quite business as usual, but people are still buying homes and making lifestyle choices, says Allan Klassen president and managing partner of Albi Homes.

“As this geo-political oil crisis sorts itself out over the next number of months, the timing for investing in a new home will never be better,” he says. “Prices will level out, though not drop because we still have a busy industry, trades could become more available, and builders with land will be able to service their customers far better.”

While suggesting that in the short term construction and prices will hold relatively steady, a change could just be in the offing a bit further down the road.

“As the future of the oil economy becomes more clear in the coming months, there will be a significant pentup demand — maybe near the end of the year — and that is where you will see again a spike in activity and prices,” Klassen says.

Echoing the comments of other business leaders, Klassen says Calgary’s economic base is much more than a one-trick pony, boasting a diversified foundation.

“Though the health of the oil and gas industries are still key indicators, this town is no longer a one-industry town. Medical, education, high-tech, construction, and a thriving entrepreneurial sector — all of whom employ tens of thousands of Calgarians — are all economic drivers,” he says.

CMHC’s Mutheardy says that with housing starts projected to moderate this year,

Felicia Mutheardy

along with under-construction levels, labour and material price pressures “should dissipate and the land component will take a more pronounced role in price growth” as the year progresses.

In a housing outlook document put out by the federal housing agency, the forecast is for single-detached home prices to gain more than three per cent to an average of $642,000 this year followed by another 2.5 per cent gain to $658,000 in 2016.

Projections could change, as could the outlook presented by builders, but for the timebeing, at least, the attitude remains positive.

“Though it’s going to be a challenging year to predict, we believe Alberta has a bright future, and great opportunity exists for those making lifestyle changes,” says Klassen. NL

Marty Hope. For more than two decades Marty Hope has been reporting on the housing and development industry in Calgary, throughout Alberta, and across Canada. In March, he was presented with the Maple Leaf Award from the Canadian Home Builders’ Association which is given annually to a non-builder member in Canada for contributions to the industry.

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M ARCH 2015