Edmonton Builder & Developer Annual 2023

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Right now, there’s nothing more exciting than nothing. It’s what the world is demanding. It’s what we need to do. Not sometime in the future. Today. Introducing the most energy-efficient homes available in Alberta that adhere to Net-Zero standards. Enjoy a home that produces as much energy as it consumes, from Jayman BUILT. If we see a way something will be done in the future, we don’t wait. We build it that way now.

Standard in all Jayman BUILT homes, includes 6 solar panels, tankless hot water heater, active heat recovery ventilation system, foundation wrap, triple pane windows and ultra-violet light air purification system with Merv 13 furnace filter.

14 solar panels, air source electric heat pump heating and cooling mechanical system (includes air conditioning) with natural gas back up, triple pane R-8 windows with argon fill. The end result? Over 4 tonnes of greenhouse emissions reduced and over $1,000 in savings annually for homeowners.

This package comes with Jayman BUILT’s proprietary wall system, including a netzero certified building envelope with up to R-37 wall values. Structurally, this home is ready for mechanical modifications and additional solar panels to achieve Net-Zero Certification at any time in the future.

A Net-Zero Certified Home. Includes an impressive 30+ solar panels, is 100% more energy efficient than current building code in Alberta, reduces over 10 tonnes of greenhouse emissions, saves up to $2,136 annually on energy costs and meets 2050’s projected building codes today.

JAYMAN.COM/NETZERO

Message from His Worship Mayor Amarjeet Sohi

On behalf of City Council and the people of Edmonton, thank you for taking the time to read the 2023 issue of the Edmonton Builder & Developer Annual.

Edmonton is a phenomenal city to live and own a home in! We are a young, fast-growing city with a residential housing market that is relatively more affordable than in many other major cities across the country.

It is no secret that economic conditions and growth potential are two significant contributors to activity in any real estate market. The City of Edmonton remains committed to ensuring that our community remains an attractive and prosperous place for Edmontonians to live and work and a desirable location for investors and the business community.

I wish to thank the editors of the Edmonton Builder & Developer Annual for continuing to showcase all that Edmonton has to offer to prospective homeowners, builders and developers. I am confident that as we grow towards a city of 2 million residents, Edmonton will continue to have a strong real estate market where families and businesses can thrive!

CHIEF

EDITOR-IN-CHIEF

EDITOR

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editor’s letter

PEPPER RODRIGUEZ EDITOR NextHome

Making the best of the opportunities of 2023

If last year showed the resilience of Edmonton’s new home industry, the coming year is going to show its excellent possibilities. The word is out: Edmonton might just be the best place to buy a new home in the province, if not the country.

Don’t take our word for it, our stellar group of Expert Panelists of industry stalwarts and leaders all agree that – even with the challenges of rising interest rates and supply chain disruptions – Edmonton will still have the best opportunities for new homebuyers.

That is of course what the Edmonton Builders Annual is all about – give readers the much-needed insights on what the best in business think will happen next year, that could help them in their decision making. Many still caution against the dangers of overextending finances, but if you are in the position to

buy a home now, take it. Lock in at an interest rate you are comfortable with and start building equity.

As we see firsthand in our monthly Edmonton New Home + Condo Guide magazines, builders and developers are always developing more functional and innovative designs for new homes and communities with an eye on affordability and accessibility. So there are plenty of exciting, new opportunities in the greater Edmonton area to find a place to call your own.

This annual issue will also give readers some of the latest design trends, and best places to live in and around the city. As always, we at NextHome strive to give our readers all the options that are available as far as new home buying is concerned. And there is no shortage of that in Edmonton.

Excel Homes celebrates 35th anniversary

Excel Homes is marking its 35th anniversary in the business the only way it knows how – by celebrating it with its buyers and partners. After all, no one lasts as long without the support of the community.

As it approaches nearly four decades of building homes in Alberta, Excel Homes has planned a yearlong celebration in 2023 with exciting new home designs, community events and key sponsorhips that ultimately help build a better Alberta.

“For the last 35 years, Excel Homes has been a part of the home building industry in Alberta. Since we first began in 1988, we’ve built over 13,000 homes in over 80 communities and we

have received over 50 awards for design and industry excellence,” says Kristina Plank, Excel Homes Marketing Manager.

“Excel Homes is proud to not only build new communities in Edmonton, but to be a part of the Edmonton community. We look forward to sharing many more years together.”

As part of its 2023 celebrations, Excel Homes is announcing some exciting new releases such as new anniversary models, new specifications, and more! “We are also planning on doing some special events in our communities, as well as giveaways and more. Stay tuned for all the exciting details!”

The celebrations themselves will certainly include customers, industry partners and everyone in the community, with lots of fun events, giveaways and sponsorships planned throughout the year. “We could not have made it to 35 years without our customers and industry partners, and we want to give back to them to express our heartfelt gratitude,” Plank says.

In Edmonton, 2023 will see Excel Homes bring a more pronounced presence in showhome parades throughout the city. Currently, they are building in Keswick Landing, the Orchards, Vita Crystallina, Cy Becker, Edgemont, and Citadel.

“There will be new communities coming aboard next year – stay tuned for details!” Plank says.

There will also be several new Anniversary models released in 2023, including a new front drive model, a new laned model and new DX (duplex) models.

The front drive anniversary model is called the Lakeview, it is a 1,930-square-foot home with

three-bedrooms and two-and-a-half baths. It will be Excel’s new show home in the southwest community of Edgemont, opening February 2023.

“The Lakeview offers versatility, and room to grow in a modern design. With a main floor flex room, large kitchen and a bonus room upstairs, this open concept model has lots of space for everyone. Perfectly designed for a growing family, Plank says.

“We are finalizing the details on the new laned and DX models right now, stay tuned for more information coming this spring!”

Excel Homes already has in place some of the most innovative new homes in the city, including the recently released Melrose in the southwest community of Keswick Landing.

Since opening on October 1, the Melrose showhome has quickly won hearts and minds in this family-friendly community, and it’s easy to see why.

It is a 1,999-square-foot, three-bedroom, twoand-a-half bath home with inspired touches that

mixes practicality and panache as only Excel Homes can.

Designed for comfort and simplicity, the Melrose offers a unique and spacious floor plan across almost 2,000 square feet, Plank says.

But the dramatic open-to-above great room is the showstopper. “The most ‘wow’ and memorable feature of this home is by far the great room. It features a two-storey open to below concept with large expansive windows that let in a ton of natural light.”

Also popular is the Hartwell in Vita Crystallina, which also just opened recently. The 1,862 squarefoot three-bed, two-and-a-half bath showhome, is masterfully crafted and the perfect size for a firsttime front-garage home buyer.

“It features many of our new popular designs such as two-toned cabinets, a large island with extra storage, black hardware and fixtures, plus black stainless appliances. A stunning design that’s functional too!” Plank says. Check out excelhomes.ca to find out more.

What Excel’s line of showstopping showhomes does well is show the stylishly affordable lifestyle available in most Edmonton communities.

“Edmonton, and all of Alberta, remains to be an extremely desirable place to live,” Plank says. “The province has a strong economy and high demand for employment,” Plank says. “We have many people relocating to our province from other parts of Canada and worldwide. With this influx, the demand for housing will only get stronger.”

And that is a demand Excel Homes can certainly meet. “At Excel, we have strong, long-standing relationships with our trade partners. This ensures that we get the best people in the industry to help build your home for the best price,” Plank says.

Go to excelhomes.ca for up-to-the-minute information on its 35th Anniversary plans, and more.

KINGLET GARDENS LEADS ROHIT’S SLATE OF NEW COMMUNITIES

The launch of Kinglet Gardens was one of the biggest events of 2022 at Rohit Group, as this young community in the highly sought-after northwest enjoyed such an overwhelmingly positive welcome when it opened last fall.

But it turns out that Rohit was just getting started, and that its land development arm is getting ready to launch a rich and diverse slate of new communities in and around Edmonton in 2023 that all promise to bring new opportunity and growth.

The opening of Kinglet Gardens was the big hit everyone was looking for and marked the first massive community event that Rohit hosted after two years of the pandemic lockdown. Everyone was excited for Kinglet Gardens, says Jedidiah Nibre, Senior Marketing Coordinator, at Rohit Land Development. “More than 400 people showed up to take part in the fun activities we had lined up for the launch.”

There was indeed much to celebrate with Kinglet Gardens, as Rohit Land Development had thoughtfully designed this community to have an almost universal appeal to homebuyers, crafting it into one where nature and nurture come to life.

Kinglet Gardens boasts a park and playground, community gardens, and a pond. Many of the in-community amenities are already in place and ready to be

IN 2023

Victory Homes – Zeus

Victory Homes – Hasina

enjoyed, including the playground, which is how Rohit has always prepared and designed all its communities.

Nibre says Rohit always focuses on building stronger communities, and neighbourhood amenities are prioritized to foster connection between residents and enhance their quality of life. “In Kinglet Gardens, prospective homebuyers were glad to learn that the community already has a park that includes an interactive and inclusive playground, and a toboggan hill where kids can run up and down in the summer and have a blast tobogganing down the hill in the winter,” she says.

“We also integrated a community garden into our neighbourhood, where residents can access healthy food, and encourage physical activity and social interaction. It’s also a great learning opportunity for children. Another draw to the neighbourhood is the future neighbourhood commercial centre where a variety of shops and services will be conveniently available to the residents and neighbouring communities in Summer 2023. A pond is anticipated to be completed next year, as well.”

Kinglet Gardens holds an appeal to the widest range of homebuyers as it offers a variety of home types to fit any lifestyle and budget, including single-family homes with front attached garages and with rear

Rohit Communities - Sicily

Blackstone Homes – New Castle 1C

detached garages, front-drive and frontback duplexes, as well as townhomes. The builders are also committed to achieving the vision for the community and include ART Homes, Blackstone Homes, Rohit Communities, and Victory Homes.

That vision comes to life in the showhome parade that features three front-attached garage homes, one rear-detached garage home, and one front-attached garage duplex. “Two more showhomes are planned to open in the coming months,” Nibre says.

“The neighbourhood attracts the first-time buyers and families interested in living close to nature, and major roadways including Yellowhead Highway and Anthony Henday Drive, providing enhanced accessibility throughout the City of Edmonton and greater metropolitan area. We have also seen interest from downsizers who love the location of the neighbourhood.”

Proximity to nature is also a big part of its appeal as Kinglet Gardens is only a few minutes away from Big Lake and Lois Hole Centennial Provincial Park. “Residents get

to conveniently enjoy the outdoors and the beauty of the natural landscape while living in the city,” Nibre says.

Kinglet Gardens’ design is testament to how Rohit approaches building all its communities, many of which have won industry acclaim and awards. The real winners are, of course, their residents with the diverse home styles offered, enhanced landscaping, and exciting amenities within each community.

At the heart of their developments is Rohit’s aim in creating an environment for neighbours to establish connections, and for families to have a place to set down roots in.

In 2023, Rohit is doing just that in the new communities they are introducing that includes Chérot in St. Albert, Cambrian in Sherwood Park, and Parkside at Glenridding in Southwest Edmonton.

“We will be offering exciting amenities and new product types in the respective communities. We have also added additional new lots in our existing Southwest communities, Ridgecrest at Glenridding Ravine and Arbours of

Keswick, as well as newly released ravine lots in our award-winning Woodhaven Edgemont in west Edmonton.”

Chérot is a 245-acre development inspired by timeless European character and charm and will feature French country architecture and landscape design elements. Chérot will also serve as the home for St. Albert’s future community recreation centre.

Cambrian is a 300-acre amenity-rich community that will offer a diverse range of home styles, neighbourhood commercial, plenty of parks and naturalized open spaces, and more!

Parkside at Glenridding is a 20-acre community in the highly desirable Southwest location with close proximity to major arteries including Anthony Henday Drive, a future transit centre, services and shopping centres, and schools and parks.

Clearly big things are still to happen through the year and on to 2023 with Rohit Land Development and the rest of the Rohit Group. For more information on Kinglet Gardens, go to www.kingletgardens.com and on other Rohit developments at www.rohitland.com

• Southeast Edmonton's newest community.

• Future parks with close proximity to Mill Creek Ravine.

• Brand new playground now open

• Townhome, Duplex, and Single Family Homes.

LIVEINASTER.COM

CRIMSON IN CREEKWOOD CHAPPELLE

• Located in Southwest Edmonton, nestled in natural Heritage Valley, North of 41 Avenue.

• Peaceful community with serene landscapes, endless recreation opportunities, shopping, and entertainment minutes away.

• Duplex and Single Family Homes.

• New K-9 school, Donald R. Getty.

• New lots now available.

CRIMSONINCREEKWOOD.COM

EDGEMONT EAST

• Final phase now selling!

• Single Family Homes from three builders.

• Close to commercial and easy access to major roadways.

EDGEMONTEAST.COM

CY BECKER

• Located in Northeast Edmonton.

• Fully integrated walking paths, parks, ponds, and green spaces.

• All Seasons Park: Outdoor skating ribbon, tobogganing, spray park, and more.

• Close to Clareview LRT, easy access to major roadways, and shopping centres.

• Duplex, and Single Family Homes avaiable.

• New lots now available.

CYBECKER.COM

LAUREL CROSSING

• Final phase now selling in this Southeast community.

• Parks, beautifully landscaped ponds, green spaces, and trails.

• Close to Meadows Rec Center, shopping, and easy access to major roadways.

• Located within the community, Svend Hansen, K-9 school.

• Single Family and Executive Home Styles.

LAUREL-CROSSING.COM

MARQUIS

• Northeast Edmonton's Newest community.

• Bordered by the North Saskatchewan River with future parks and playground, this community has easy access to the Henday. • Townhomes and Single Family Homes.

LIVEINMARQUIS.COM

POINT AT GLENRIDDING RAVINE

• Southwest Edmonton's Newest community.

• Natural surroundings including a park, storm pond, environmental reserve, and multi-use trails with a scenic view of Whitemud Creek Ravine.

• Single Family Homes and ravine backing lots available.

• Final lots are selling fast.

POINTATGLENRIDDING.COM

RIVERS EDGE

• West Edmonton's newest community.

• Experience the outdoors with a community pond, future top of bank trails, and close proximity to the North Saskatchewan River, and future Big Island Provincial Park.

• Single Family Homes and Townhomes.

• First phases now selling!

EXPLORERIVERSEDGE.COM

THE UPLANDS AT RIVERVIEW

• Located in West Edmonton, “upland” from the North Saskatchewan River.

• Pond, creek, and ravine backing lots; the opportunity for walkouts.

• Connective trail system.

• Two inclusive playgrounds.

• Features a pollinator corridor to attract bees, butterflies & birds, a wildlife crossing, and is part of the Yellow Fish Road Program

• Executive, Single Family Homes, Streetscape Single Family Homes, Duplex, and Townhomes.

LIVEINTHEUPLANDS.COM

New opportunities for growth in Edmonton in 2023

by PEPPER RODRIGUEZ

would be to figure out what part of last year is it the same as?” he says. “The Insanely busy first quarter, or the subdued 2nd and 3rd quarters?”

The Alberta Advantage has got some of its swagger back and the Edmonton new home industry looks to gain from it in 2023. The last few years may not be as lustrous as it was in the early part of the new millennium, but it’s fair to say that is changing.

Economic experts are optimistic about Alberta’s prospects for an even stronger 2023, despite headwinds brought about by higher interest rates and continued inflation.

For one thing, experts agree that the Alberta Advantage these days is different from what it had been when oil and gas was the sole source of its economic prowess. Today, it is more diversified with the growth of more industries, like technology, manufacturing, and logistics.

Edmonton’s new home industry is particularly well positioned to reap the benefits, as homes here remain more affordable than in Toronto or Vancouver, or even Calgary.

Miles Kohan, president and CEO of Edmonton’s the Milestone Group, and the current president of the national Canadian Home Builders Association (CHBA) chapter, says he expects to see an Edmonton market performing better than the rest of the country.

“Typically, in an uncertain or fluid market like we find ourselves in, the answer to the question of what to expect in 2023 is “same as last year”. The problem

believe Alberta is better positioned to weather the storm and are optimistic for the latter half of 2023.”

ATTRACTING MIGRANTS

He noted that what was seen across the country was rapid price escalation, and a significant jump in the percentage of household income that goes into buying a home. “However, Edmonton did not see the same level of increases as some other markets, and accordingly house prices here would not be able to recoil as much as some of the media headlines might suggest.”

One of the biggest factors that’s raising confidence in Edmonton is the strong in-migration numbers reflect the desire to call Alberta home. Numbers show that more people from other parts of the country and the world are attracted to the relative affordability and balanced lifestyle it offers.

NEW HOME INVENTORY NEEDS

Scott Fash, Executive Director of the Building Industry and Land Development Association Alberta (BILD Alberta), says the past year was the busiest since 2015.

BILD Alberta, which advocates on behalf of members on provincial matters that impact the new home industry, says inventory is quickly being quickly.

According to the Alberta Real Estate Association (AREA), some 37,122 people moved to Alberta from other provinces in the second quarter of 2022. This was up 87.7 percent from a year earlier. There were significantly more people moving to Alberta from British Columbia and Ontario compared to the second quarter of 2021.

“This past year was the busiest we have had since 2015 and while we don’t think next year will be as active, some markets will likely continue to see reasonable levels of activity. Since the start of the pandemic,” Fash says.

A total of 27,265 people did leave the province for elsewhere in Canada in the second quarter, an increase of 12.9 percent from the same period in 2021. This leaves a net gain of 9,857 people to Alberta’s population in the second quarter, a stark reversal from a year earlier of the net loss of 4,370 people from the same period of 2021, the AREA report says.

“Alberta’s new housing inventory dropped by 60 percent, Calgary in particular saw its inventory fall by almost 75 percent. New housing is needed to build inventories back up or we could face future shortages and higher prices,” he warns.

Meanwhile, international immigration added a record 25,026 people to Alberta’s population in the second quarter of 2022. This was an increase of 361.8 percent

“While there are economic headwinds in the form of higher interest rates and a potential recession, we

from the same period in 2021 and marked the first time in history that net international immigration surpassed 20,000 people, the AREA report adds.

In metro Edmonton itself, the current population in 2022 is 1,519,000, a 1.88 percent increase from 2021. It is a continuation of a trend that has seen the metro area population of Edmonton grow by 2.05 percent in 2021 from the year prior.

“For the first time in a while, our labor market is super tight and back to pre-pandemic levels, and we also have a very large wave of net migration into Alberta,” Kohan says. “So, when you realize that the rising interest rates are scaring some buyers off to the sidelines, it isn’t taking them out of the game. So, we what we are seeing is pent up demand being created (greater number of new Albertans versus activity), which means when the tap turns on again, it will likely be another rush of activity.”

AFFORDABILITY IS KEY

What is attracting the majority of the newcomers is the relative affordability of housing in Alberta, particularly in Edmonton.

“Affordability throughout Alberta remains strong, homes cost half of what they have in BC and Ontario,” BILD Alberta Chairman Dhruv Gupta tells Edmonton New Home + Condo Guide. Edmonton is particularly attractive and is even more affordable than Calgary, he adds.

“Relatively higher wages in Alberta also promise newcomers a better life,” says Gupta. He is also the president of Akash Homes, that builds in Edmonton, Calgary and Fort McMurray.

Edmonton is one of the most affordable Canadian big cities to find a home, according to real estate research website Wowa.ca. Its recent report says Edmonton housing prices increased only 13 percent over the past 15 years, even as official inflation for this period was at 32 percent.

It says the average home sold price in the Greater Edmonton Area was $381,451 in October 2022, which shows a 1.1 percent year-over-year increase. It adds that a single-family detached home in Edmonton had an average sale price of $469,000 for September 2022, which is a 1 percent annual increase and a 1.2 percent monthly decrease.

Gupta says the growth of new communities in the metro Edmonton area provides plenty of opportunities for newcomers to find a home and a place to plant their roots.

He adds that the recent completion of Anthony Henday Drive that encircles the city has been key in spurring the growth of these new communities. “The Henday just makes everything more accessible.”

Kohan says although some factors affecting affordability, like lumber and a few labour rates, have come down, input costs to builders are expected to moderately rise. “As a consumer, if you are ready to buy, now is a great time as there are simply less active buyers due to the rising interest rates. However, those rates will moderate and possibly even go back down to deal with a recession, and if that happens then prices would jump, and consumers would have missed the opportunity to take advantage of the current market conditions.”

Jayman BUILT brings the Net Zero home of the future, today.

The future is now at Jayman BUILT, as the award-winning homebuilder brings a new generation of Net Zero homes to the Edmonton market.

An initiative it began in 2021, Jayman BUILT’s Net Zero homes are gaining popularity and the day is now closer when such homes that produce as much energy as they consume becomes the standard.

“We launched our Quantum Performance Ultra E-Home (Net Zero certi ed) in 2021 and introduced our Path to Net Zero just this year – which o ers four di erent energy e cient options for our homeowners,” says Jayman BUILT Chief Operating O cer, Dave Hooge.

Jayman BUILT has it in its DNA to bring sustainability and energy e ciency into its homes, Hooge says. It was the rst homebuilder in Alberta to include solar panels as part of the standard features of each home. It then started adding smart home features into the package. Now, it is leading the industry again in the charge to meet national sustainability targets.

The Reece in Trumpeter by Big Lake

The Reece in Trumpeter by Big Lake

“We are building and opening a Net Zero certi ed showhome (both laned and front attached garage) in every parade we build in, across Alberta,” he adds. “We have seen strong interest and pick up for our Path to Net Zero options, with several fully Net-Zero certi ed homes and two Solar Energized Hybrid Performance homes sold in this province.”

Jayman BUILT homes already surpass the 2030 building codes and have basically reached the 2050 targets that the federal government has outlined for Canada. Its homes are equipped for the future and will have a better resale value in the long run.

“We believe in leading the industry in what is possible for new home construction. We don’t wait for building code to dictate what is required; we work towards that goal rst,” Hooge says.

The Quantum Performance Ultra E-Home introduced by Jayman BUILT last year combined cutting-edge energy-saving technology, smart home automation and a ordability to give every single-family homebuyer the opportunity to live in a home equipped for the future.

These net zero certi ed homes are 100 percent more energy e cient than the building code requires. It can literally save customers over $2,000 a year in energy bills compared to the average Alberta home.

Net Zero homes produce as much energy as they consume annually, and Jayman’s homes have a minimal environmental footprint that prevents 10 tonnes of greenhouse gases emissions per year. By generating its own power, a Quantum Performance home uses much less power from the electrical grid that is typically generated by burning natural gas or other fuels that emit greenhouse gases.

Hooge admits that this top-of-the-line home isn’t always an option for buyers. “Therefore, we have out tted every

Jayman BUILT home with our Core Performance features, as a standard – this includes solar panels, energy e cient 2-stage furnace, triple pane windows, active heat recovery ventilator, tankless hot water heater, foundation wrap and smart home technology.”

Combined, he says these standard features make a Jayman BUILT home 20 percent more energy e cient than building code requires and saves homeowners up to $700 annually on their energy bills.

Feedback has been overwhelmingly positive since its introduction. “People can’t believe that a fully Net Zero certi ed home is available for purchase today.”

Jayman BUILT has become more e cient in the production of Net Zero homes. “We have developed a process to model and build our Quantum Performance Homes. We have developed a proprietary wall system that signi cantly reduce heat loss. We work with a registered independent energy advisor to complete the certi cation process.”

The Edward in Keswick Landing

The Edward The Reece

Each Quantum Performance home is initially computer modeled based on the home site’s speci c location and orientation to optimize the sun’s energy, he adds. “The energy e cient components are added to the computer model to provide an estimate of the electricity required to operate the home. The electricity requirements will then specify the number of solar panels needed to generate enough electricity to o set the electrical demands of the home.”

Jayman BUILT has just opened Net Zero showhomes in Edmonton: The Reece, a 2,087-square-foot front-drive garage model in Trumpeter at Big Lake, and the 1,478-square-foot Edward laned showhome in Keswick Landing.

“In the coming months we will be opening three NEW Quantum Performance Ultra E showhomes: The Holly in The Uplands of Riverview, The Sonata in Nouveau in St. Albert –which is a brand-new community for Jayman BUILT in this city. Then the Taylor in River’s Edge. We are super excited to introduce these new showhomes to the market!”

Hooge does acknowledge that it costs more to build these homes, but they are working to make it more attainable in the near future.

“Those that are purchasing are aware that there is additional cost to add these features and are comfortable with it, as over time, the energy savings do o set the higher mortgage payment. With the government moving to Net Zero by 2050, we are working to make these homes more attainable, but there are increased costs required to achieve the certi cation,” he says.

Hooge mentions that they are able to provide exclusive interest rates and rate-holds though their Jayman Financial division. “Our team can help recommend rate terms that are suitable for the budget and lifestyle of the homeowner. We are happy to refer all customers to our Mortgage Professionals and schedule personalized one on one meetings with them. We also o er programs like the Down Payment Savings Plan, to help buyers purchase their new home and save their down payment within two- to ve-months.”

Visit the Edward showhome at 5005 Kinney Link SW, or the Reece at 12911 213 Street NW. Or go to Jayman.com for more information on its line of Net Zero homes and more.

The Edward

The Reece

THERE’S BEAUTY IN A 15 MINUTE COMMUNITY

Village at Griesbach is a treasure within Edmonton. The picturesque community hosts parks and playgrounds, historic monuments, beautiful architecture, schools, shopping, restaurants, coffee shops, and more – all within the community borders!

Having all your essentials close by is what makes Village at Griesbach a 15 minute community. The City of Edmonton has been working on a “15 minute City” planning initiative since 2020, which details how Edmontonians can improve their quality of life by “living locally,” and Griesbach is a prime example of what it means to live locally in a 15 minute community.

“Village at Griesbach is all about convenience just outside your front door,” says Georgette L’Hirondell, Marketing Manager for Canada Lands Company. “Griesbach’s residents can get to where they need to go with ease, while also finding all their essentials right in the community.”

The defining factor of a 15 minute community is that all of your essentials – from shopping and services to public hangouts and restaurants – can be accessed within a 15 minute walk or bike ride.

“We have a wonderful commercial square that supports local businesses. When planning the community, we wanted Griesbach to have plenty

of variety to serve a wide range of demographics,” L’Hirondelle mentions.

As a master planned community, Griesbach embodies the values and needs found within a 15 minute community. The primary needs of a 15 minute community include shortening commutes to all work as well as your amenities, reducing our environmental impact by making it easier to get to places on foot, on a bike, or using public transit. 15 minute communities also focus on supporting locally owned businesses and making it easier for small, boutique-style businesses to thrive.

Village at Griesbach has multiple lively commercial areas throughout the community to promote an ease of life. Along with ample shopping and restaurants, over 23% of Griesbach’s land is dedicated to greenspaces and natural amenities – that’s 10% more than required in Edmonton!

The community has three gorgeous lakes. Roundel Lake, Patricia Lake, and Bedford Basin. These lakes all have military monuments, walking paths, and seating areas to promote community engagement and enjoyment.

Another lake is also coming to the community, set to be ready in Spring 2023! Maple Leaf Pond will be a prized amenity within the community. This water feature will be shaped like a maple leaf that can be viewed from the top of Central Hill Park.

“The whole pond will be surrounded by walking trails, outdoor exercise equipment, as wellI as ample seating. There’s going to �e an outdoor fire �it and gathering s�ace� Plus, the space adjacent to the pond will turn into a snowbank outdoor skating rink in the winter where there will be a place for people to change into skates, warm up in the warming area, and enjoy the outdoors!” says L’Hirondelle.

Maple Leaf Pond is just another one of the exciting amenities that can be accessed within a 15 minute walk or bike ride from anywhere within the community! Being able to easily meet up with friends and other community mem�ers, as well as find all your essentials, is one of the things that make Village at Griesbach so special.

“Our community members absolutely love living in �ries�ach� �e find many �eo�le �urchase their first

home in the community and continue to purchase homes within Griesbach. It’s because there’s such a strong sense of community,” L’Hirondelle says.

Village at Griesbach’s tight-knit atmosphere ensures that e�eryone who li�es in the community finds a sense of belonging and home. This is one of the key features of a 15 minute community, as community members get to know one another and spend time together.

With all your necessities in one place, schools a walking distance from home, as well as plentiful amenities that can be enjoyed year-round, Village at Griesbach is a dream come true.

If you would like to learn more about living in a beautiful, 15 minute community, visit villageatgriesbach.com.

Coventry Homes:

FUNCTIONAL AND FLEXIBLE HOME DESIGN is at the heart of Coventry Homes. For 46 years the locally owned homebuilder has established itself as a leader in the region with their unique approach to home customization. The foundation of their success is based on an unwavering commitment to delivering superior quality finishes, efficient floor plan adaptability, and providing outstanding service to their clients throughout the homebuying process. As the 2022 CHBA Homebuilder of the Year, Coventry’s customer-focused experience is rated among the best in the industry, and their product continues to exceed expectations in both quality and style.

Known for their signature Lifestyle Packages, Coventry Homes has expertly designed thoughtful and exciting upgrades that offer a personalized addition to the home building process – without the hassle! Homebuyers are able to customize their home to suit

their individual needs, by choosing from a variety packages like the Radiant One, which features 3 different levels of solar panel energy conversion systems; and The Executive Chef Built-In, which features a gas cooktop, built-in oven and a Kitchenaid® stainless steel French door fridge. As the Preferred Builder of the Edmonton Oilers, Coventry Homes is proud to be the only builder to exclusively offer the Oilers Team Player Package – a smaller version of the ever popular Oilers Fan Cave package that allows clients to bring the Fan out of the basement and in to any room in the house! 2022 brought an array of significant achievements and innovations within Coventry Homes. Taking home both the coveted 2022 Large Volume Homebuilder of the Year title and the Leadership award for the CHBA Edmonton Region put the spotlight on the incredible work the Coventry team has done for the community and clients. In addition to these two

prestigious awards, the Coventry team also took home prizes for their Odessa showhome in Riverside and the Kalliope showhome in the Village at Griesbach, as well as Best Radio Commercial which helped launch the “All Dreams Start At Home” campaign. Area Sales Manager, Zeina Pong, also received recognition for her amazing contributions, taking home a Silver Sales Volume award.

Driven to always deliver the best experience for homebuyers, Coventry pursued important updates and additions to their key product offerings and services – this included new interactive features to their website to provide an even better user experience for homebuyers at the start of their home search. Interactive floorplans and both interior and exterior renderings were a prioritized element for the website, a decision based on the Coventry team recognizing that it was integral for consumers doing their online research to be able to see various optional layouts available in the floor plans. Easy to use colour packages, as well as a robust array of a-la-carte design options, were also added to allow customers to visualize their home and finishes prior to signing off and providing them confidence and peace of mind in their new home purchase.

Homebuyers will find an outstanding assortment of home styles to choose from with Coventry Homes, including bungalow, two-story, duplex and townhomes. Building in 20 exceptional communities in the Edmonton area, you can expect some new community announcements for the builder in the year ahead. New showhomes will be arriving in the following communities: Nouveau in St. Albert, opening in January and expected to include an Oilers Fan Cave; River’s Edge in south west Edmonton, open early 2023 and showcasing a brand new home model, the Lyra; and Easton in Spruce

Grove with the new showhome model, the Leda which showcases “The Entertainer” lifestyle package. Plus, a new showhome in the Uplands is also on its way, featuring the new Ara model, and will include the “The Fitness Fanatic” lifestyle package.

Within the community of Keswick there will be a new optional layout to Coventry’s popular Dione model, showcasing another customer-favourite, the “Executive Chef Lifestyle Package”. Be sure to keep an eye on additional community and showhome announcements later this year, including both Marquis and Marquis West opening this spring. Homebuyers can also expect more quick possession homes available in 2023. After two years of limited supply, Coventry Homes will provide homebuyers with the exciting opportunity to get into a Coventry home without the typical wait.

Giving back to the city and community is extremely important for the Coventry team. Now in their third year, Coventry has partnered with the Spruce Grove school division for the Building Futures program. The program provides a hands-on learning opportunity for high school students. The program allows for Grade 10’s to learn the steps and skills needed to build a home, alongside Coventry staff and trades, and in the process are earning credits towards their high-school diplomas. This unique opportunity provides students with an authentic experience where, by the end of the year, they will have built a home and learned valuable insight about contributing to their community.

Another significant relationship for the organization is with the Edmonton Humane Society. Over the past decade, the Coventry team has devoted fundraising efforts for EHS programs by hosting their annual Coventry Homes Paws and Claws Gala and other initiatives. For 2023, the Paws and Claws Gala is scheduled to take place on March 11, 2023 at the Edmonton Expo Centre. With over $1,000,000 already raised from the annual gala, funds raised from this fabulous evening will continue to help care for neglected, abused and homeless animals.

Over 45 years ago, CEO, Henri Rodier, founded Coventry Homes based on values that are still true to his team today. “Our flexibility and highly customizable approach to home design has always been a key benefit for our clients and our newest offerings will be no different. You can expect to see even more flexibility in terms of our models and optional layouts, customizations to our quick possession homes, and even within our curated lifestyle packages.” Coventry’s commitment to customer service ensures all clients receive a first-rate experience and are interacting with a team that is genuine, ethical, and devoted to delivering a product that enriches their lives.

To lean more about Coventry Homes, or for a list of showhomes, visit coventryhomes.ca or call 780-453-5100.

Looking ahead to 2023

A roller-coaster ride best describes the past year in the industry, and 2023 may bring the same uncertainties, but Edmonton is very much equipped and prepared to handle whatever tomorrow brings. That’s the opinion of everyone we spoke with for this year’s Expert Panel discussions. All are confident that Edmonton – and the whole province of Alberta itself – is ready to handle the challenges far better than the rest of the country.

The experts we gathered this year are the very people who would know –coming from industry associations to those in the forefront of homebuilding and land development themselves. They are the people who build the homes and communities in the greater Edmonton area, and they can speak with confidence and proficiency on everything about the market. Here’s what they have to say:

The Urban Development Institute (UDI) Edmonton Metro is a non-profit, member-driven organization representing leaders in the land development industry in all communities throughout the Edmonton Metropolitan region. UDI has played a key role in the development of residential communities throughout the province for more than six decades. Today, UDI Edmonton Metro members - development companies and the professionals involved in the industry, including planners, surveyors, landscape architects, engineers, contractors, finance managers, and others – are working to improve the lives of Edmontonians through the work they do in partnering with municipalities who regulate and set policy related to land use.

“We are important city builders. We build the communities where people live, the roads they travel, the buildings they work in, and the parks where families gather,” says Kalen Anderson, the Executive Director of the organization and she is confident of the industry’s growth in 2023. Top on their agenda for next year are the following:

• ELEVATE CITY BUILDING CONVERSATIONS. All types of people contribute to city building in Edmonton and the region. We need to harness the interests and expertise of those who develop land, and those who enjoy the spaces and places in between. All to create shared understanding of how communities are built, and to identify opportunities for innovation to our cities’ most pressing issues – housing affordability, sustainability, and economic prosperity.

• CURB PUBLIC INFRASTRUCTURE SPRAWL. While infrastructure standards for roads, sidewalks, trails,

Kalen Anderson, RPP/MCIP

Executive Director

Urban Development Institute (UDI) Edmonton

pipes, and sewers are critical to our neighbourhoods, their initial installation impacts the cost of new homes, and their maintenance and repair drives up property taxes over time. The over-engineering of our public realm also erodes affordability and conflicts with stated climate change goals. Our communities are being designed in smart ways by the private sector, and we need the public sector requirements to match the moment too.

• TELL OUR STORY, TO ATTRACT THE WORLD. We need to reinforce the reasons that make Edmonton an attractive place to live and work – good paying jobs, affordable housing, and a great quality of life. We need to collectively promote the Alberta is Calling campaign, while also honing in on the local strengths of our communities. Alberta is calling and the Edmonton Metropolitan Region is open.

• REGULATIONS AND POLICIES THAT SET US UP TO COMPETE (AND WIN). To ensure our region remains an attractive place for people to migrate to and from across Canada and around the world, we will need to keep housing costs low and non-residential development opportunities plentiful. Municipalities can contribute to this outcome by opening up more land for development and providing a clear and predictable picture of development requirements, timelines, and costs.

• MAKE THE DOWNTOWN SAFE AND CLEAN. Downtown Edmonton is an important economic and cultural driver for our city-region. In the short term, we need a safe, secure, and clean downtown. In the mid and long-term, we need to create a clear path to attract economic investment and robust residential and nonresidential growth downtown.

• WE ARE YOUNG, EDUCATED, AND GROWING (YEG). We need to work with post-secondary institutions to nurture talent, as our industry and overall economic prosperity will benefit from that future labour force.

Brad Armstrong Vice President, Community Development Qualico Communities Northern Alberta

What are your expectations for 2023?

What opportunities do you see?

My crystal ball has not been working particularly well these past couple of years. However, if I had to guess, I would expect to the first half of 2023 to be challenging for new home building as interest rates and inflation continue rise. The resulting drop in new home starts may lead to a reduction in the demand for labour and potential improvements in supply chain issues, both of which should lead to stabilization of the cost of housing. In spite of this, other economic fundamentals, such as higher employment rates, net increases in interprovincial migration, higher household incomes and lower cost of housing relative to other large cities in Canada put the Edmonton Metropolitan Region in a strong position for future growth.

How do higher interest rates affect growth prospects in 2023? How is your company meeting this challenge? Obviously higher interest rates are impacting housing affordability and the ability for consumers to qualify for mortgages on. Many new home buyers will need to make a choice: either look for available housing in a smaller, more affordable category; or postpone their purchase to increase their down payment and/or wait for interest rates to moderate. In the meantime, Qualico Communities is focusing on managing its inventory for new residential lots by limiting our production levels in 2023, and focusing on debt reduction. This is a constant balancing act in the business of community development.

How are you coping with the challenges of 2023? Will you be introducing new communities, or new amenities to existing ones? What are you most excited for?

In spite of the challenges of inflation and interest rate hikes, we are planning to initiate another new community located in Sherwood Park and Strathcona County. This is our third “pioneering” neighbourhood in the past eight years, and will take two years to complete the first stages of development. We need to take a long term view of this new neighbourhood given the fact that we have 20 to 30 years of land to develop. Therefore, we need to start servicing now in order to take advantage of future growth opportunities where we fully expect

to see several economic cycles throughout the lifespan of any community. With respect to our current active neighbourhoods we will continue to manage our inventory levels to meet the current market demands for housing by adjusting the size of new stages or, if necessary, postponing development.

Where do you see the highest growth prospects in Edmonton and why?

I anticipate the highest growth opportunities in the Edmonton Region to take place in suburban neighbourhoods throughout Edmonton and the Metropolitan region as the housing choice and affordability is most in alignment with what consumers are looking for.

What gives you confidence in the Edmonton market?

Although we are experiencing challenges with respect to inflation and increasing interest rates, many of the other economic indicators are quite strong: Alberta is currently experiencing very strong net interprovincial migration; our unemployment rate is quite low (to the point where some sectors are experiencing a labour shortage); there is strong demand for many of the commodities produced in Alberta; and, the cost of housing in Edmonton Metro, while it has increased significantly over the past year, continues to be one of the most affordable housing markets for large Cities in Canada. Therefore, if interest rates stabilize in 2023, and hopefully moderate, we may see a strengthening of the housing market by the end of 2023 or early 2024.

What are BILD AB’s expectations for 2023?

What opportunities do you see?

This past year was the busiest we have had since 2015 and while we don’t think next year will be as active, some markets will likely continue to see reasonable levels of activity. Since the start of the pandemic, Alberta’s new housing inventory dropped by 60%, Calgary in particular saw its inventory fall by almost 75%. New housing is needed to build inventories back up or we could face future shortages and higher prices.

While there are economic headwinds in the form of higher interest rates and a potential recession, we believe Alberta is better positioned to weather the storm and are optimistic for the latter half of 2023.

Why buy a new home today with the higher interest rates?

We have been fortunate to have low interest rates for many years but buying a home is a long-term investment. The benefit of purchasing a new home versus a preowned home has many advantages, from selecting your desired neighbourhood and floor plan, to the warranty that comes with building a new home on its construction and products.

None of us truly know what interest rates will look like in 3, 6 or 12 months. Are 4-6% interest rates going to become the norm for the foreseeable future? Because Alberta’s housing has remained affordable we will not see price declines to the degree that many unaffordable markets are seeing. Prices are likely to remain stable or even potentially increase due to reduced new housing

Scott Fash Executive Director BILD Alberta

supply, increased demand from immigration, limited land availability in some markets and continued supply chain challenges.

Can you touch on the land development side too?

The land development cycle is much longer than new home construction. Many developers have been expanding and bringing on new vibrant communities all over Alberta. We do anticipate some potential challenges in some markets due to limited land availability and transformer shortages. This could lead to longer development timelines and limited lot availability.

How is BILD helping its members adapt to the challenges of 2023?

BILD Alberta continues to advocate for members to maintain housing affordability. Core items for the next year include: finding solutions to speed up land title registrations, preparing members for the new Building Code changes, limiting offsite levy costs and addressing concerns surrounding utility infrastructure costs. All of which can add unnecessary costs to the end price of a home. With an election in the next six months, we will be focusing on communicating the impacts of policy on affordability. We look forward to working with government to find solutions to house all Albertans.

What advice can you give the new homebuyer in 2023?

Don’t overextend yourself, there are affordable home ownership options across Alberta in many different forms – multi-unit, townhouse, rowhouse and singledetached. Your home is a long-term investment and though we can’t predict what interest rates will look like, don’t wait for a considerable price drop, because it is not as likely in Alberta based on current inventory and demand levels.

What gives you confidence in the Edmonton market?

We have the Alberta advantage. Alberta’s affordable housing and high wages set us apart from other provinces. We expect strong immigration numbers to continue which will position Alberta in a better economic position than other provinces. We just need to make sure we continue building the right amount and type of supply to avoid housing price increases that we see across other parts of Canada.

Charles Fay Vice-President

Jayman BUILT Edmonton

What are your expectations for 2023?

We expect 2023 to be a much more balanced market. We should not see the extreme highs and lows of the past several years. Many of the supply chain and labour issues will be resolved and although input costs and retail prices are not expected to decrease, they will not rise at the same rates we have seen previously. I expect 2023 to be the year we finally complete our recovery from the pandemic and all the issues that we have dealt with during the recovery. The opportunity is in the fact that the Edmonton economy is still strong as should continue throughout 2023.

Why buy a new home today with the higher interest rates?

The reality is interest rates are not that high. When compared to historical levels, interest rates are what we have seen in past years and can even be classified as a normal or expected rate.

Many of the homebuyers today have only experienced a low interest rate environment and having not experienced other periods, so therefore do not have the same reference point as a more experienced home buyer may have. Home prices will not go down, regardless of what is being reported. By waiting, homebuyers take a risk of both prices going up as well as the fact interest rates will not go back to the low levels of the past. It is always better to enter the market now and begin to gain equity on your home regardless of the interest rates.

How are you adapting to the challenges of 2023?

We launched our Quantum Performance Ultra E-Home (net zero certified) in 2021 and introduced our Path to Net Zero just this year – 4 different energy efficient

options for our homeowners. We are building and opening a net zero certified showhome (both laned and front attached garage) in every parade we build in, across Alberta. We have seen strong interest and pick up for our Path to Net Zero options, with several fully net-zero certified homes sold and two Solar Energized Hybrid Performance homes sold in this province.

What advice can you give the new homebuyer in 2023?

Do your homework, trust in the professionals and don’t fear what you hear about the market and interest rates. We have a team can help recommend rate terms that are suitable for the budget and lifestyle of the homeowner. We are happy to refer all customers to our Mortgage Professionals and schedule personalized one on one meetings with them. We also offer programs like the Down Payment Savings Plan, to help buyers purchase their new home and save their down payment within 2 to 5 months if qualifying is a concern.

What gives you confidence in the Edmonton market?

The Edmonton market is strong and will continue to grow. Investment continues in the Edmonton region. We continue to see high levels of migration, job growth and a very attractive business environment. There is a tremendous opportunity for people to enter the housing market, given our inventory, product offerings and affordability. With us entering a much more balanced market, there is a great opportunity for a strong real estate year in 2023 which show all the signs of a full recovery.

What opportunities do you see in 2023?

In 2023, I expect to continue to see supply chain issues slowly work themselves out, especially as the US market slows. This will help bring some stability back to the market.

The previous rapid escalation in lumber prices has recoiled, and we see smaller increases that are right across the board. With land coming on next year already priced higher than current lots, it will be likely we will see overall prices increase for 2023.

Why buy a new home today with the higher interest rates? How is the CHBA addressing this nationally? And how is Milestone addressing this for a local perspective?

Nationally, the main issue effecting housing affordability is in fact supply. The CMHC had identified that we need an extra 3.5 million homes in Canada by 2031, and to achieve that we need to double the number of annual housing starts! CHBA will be working on providing the government guidance on how to implement the $4 billion Housing Accelerator Fund, to support municipalities to take measurable steps to bring more supply online. Coming off a year where we set a record of 271,000 starts in Canada, we need collaboration at all 3 levels of government to maintain that pace, let alone double it.

From Milestone’s perspective we think the items that can come down in price already have, and we have kept our pricing as conservative as possible, so we put in place a “Price Guarantee” where if someone buys

Miles Kohan

President

our house, we guarantee that if the price drops prior to possession, we will refund the difference. This can give a customer the confidence to move ahead and take advantage of current prices before interest rates stabilize or decrease and then we anticipate the prices to start moving back up again.

What advice can you give the new homebuyer in 2023?

I would have two main pieces of advice… Don’t be afraid to be transparent with your builder, as the clearer you are with your goals, aspirations, and boundaries of your housing project, the better the outcome will be with your builder. Also, remember the old adage “You can’t get something for nothing,” meaning if you see something that seems too good to be true, it probably is. Local builders didn’t raise prices at the rate of other areas in the country, so its not likely to see the prices drop below what was already the most affordable market in Canada, without taking something out.

What gives you confidence in the Edmonton market?

A while back, RBC had reported that in Edmonton it only took 27.1 of average household incomes to buy and average priced house, which was the lowest major city in Canada (Toronto took 75% of household income and Vancouver was 82%). As society at large becomes more mobile in our ability to work in one location and live in another, we naturally become a desirable place for people to move to. We see net migration numbers jump, and as immigration targets are raised within Canada to 500,000 per year, our share of the overall population growth is growing. Home ownership is still the goal for a majority of Canadians, and in Edmonton, we have a low unemployment rate, coupled with a relatively affordable housing market, where people can still realize that dream!

President and CEO of Milestone Builder Group and CHBA National

Georgette L’Hirondelle Marketing Manager, Real Estate Canada Lands Company

What are your expectations for 2023? What opportunities do you see?

We’re expecting a steady trajectory of home sales within the community in 2023 as Alberta has experienced a strong migration rate over 2022 and we’re not expecting that number to go down. Griesbach has new and upcoming opportunities with a new stage being released for sale next spring with 51 Single family which includes amazing amenity lots facing the brand-new community amenity Maple Leaf Pond.

How do higher interest rates affect growth prospects in 2023? How is CLC meeting this challenge, particularly for Village at Griesbach?

Though we are all working around higher interest rates, this has been a determining factor in sales volumes. Griesbach remains a popular community with strong interest and sales. We anticipate steady, continuous growth throughout next year, and we’re working alongside our builder group and other stakeholders to ensure that Village at Griesbach remains a community for everyone with affordable options, as well as amazing amenities and luxury single family homes.

What are you most excited for in the coming year?

One of the most exciting developments for the coming year is that Maple Leaf pond is expected to be completed in Spring 2023. This is an amazing amenity for the community and is going to include walking trails, fitness equipment, stone seating edges throughout, entry plazas, with structural maple leaf features, a pond

fountain, fire pit, and in the winter, there will be a snow bank skating rink adjacent to the pond. with a future warming hut plaza. Plus, the entire maple leaf-shaped pond can be viewed from the summit of Central Hill Park. The next brand-new stage of lots includes amenity lots all around Maple Leaf Pond.

4. Where do you see the highest growth prospects in Edmonton and why?

One of the highest growth prospects for Edmonton is probably infill developments and multi-family living. Home buyers don’t want to live a long way away from the city, that’s why Village at Griesbach – and infill building in general – are so popular. Although with multifamily housing, we’re seeing a huge rise in income suites being built in Griesbach. Garage suites are a popular option that offer added privacy compared to basement suites with a fantastic income opportunity.

What gives you confidence in the Edmonton market?

Edmonton has seen steady growth in capital projects, as well as increased migration to the city, which is why we’re releasing new lots and planning for the future. There’s a strong home building market where in the last year even though building permits have gone down, they’re still in tune with 2018 numbers. There’s been an 11% increase in single family starts, and single family home builders are pacing to have the best year in almost a decade according to the Realtors Association of Edmonton. This all gives me great confidence that 2023 is going to be another fantastic year for home building.

What are your expectations for 2023?

What opportunities do you see?

2023 will start slow as many consumers settle into the new interest rate environment. Expectations for many consumers and what they can afford will change, but Alberta offers some of the most innovative products that can meet our residents needs. The biggest opportunity is centered around the population explosion we are seeing in Alberta. When you consider the federal governments increased immigration targets, there is no doubt we will see more need for affordable housing in the near future.

Why buy a new home today with the higher interest rates?

Currently interest rates are in a higher place than we are used to, but overall rates are still in a manageable space. It’s also not likely that rates stay this high for the long term, which is how you should view a housing purchasing decision. When you consider that these rate hikes have put a downward pressure on pricing, a savvy purchaser will realize that this is a great time to lock in a home at a great price, while leaving themselves open to taking advantage of lower or stable interest rates in the future.

How are you adapting to the challenges of 2023?

Are you releasing new models, is there a particular innovation you’re excited about?

Affordability will be the greatest challenge to 2023 for builders and consumers alike. On our end, we’re excited to

Jag Mehta, CPA Vice President, Housing, Edmonton Rohit Communities

introduce the newest versions of our innovative stacked townhome product to the market place. These will bring 1 & 3 bedroom products at affordable pricing to the market. It also helps meet the city’s density requirements as we can provide over 30 units per acre versus the average 2022 units from traditional townhome builds.

What advice can you give the new homebuyer in 2023? Real estate is not a 1-3 year decision, it’s a long term play. When you buy a home, you are putting a roof over your head and engaging in a forced savings scheme that protects you later on in life. When you consider that most townhomes and duplexes now also feature side door entries, you also have the potential of having another cash generating investment while you live in your home. Overtime, owning a home is rarely a decision that doesn’t pay off.

What gives you confidence in the Edmonton market?

Edmonton is the 4th most affordable municipality in North America. As we continue to add upwards of 500,000 new Canadians per year, the best place for anyone to settle will be Alberta and in particular, Edmonton. Additionally, we have a direct connection to the Port of Prince Rupert via rail line. The pandemic stressed the need for additional port capacities in Canada. With Edmonton being a direct link, it’s caught the attention of many industrialists in North America. We have the potential to become a big hub for logistics.

Kristina Plank Marketing Manager Excel Homes

What are your expectations for 2023?

What opportunities do you see?

Going into 2023, like everyone we remain cautiously optimistic. Since the pandemic, the home building industry has gone through a series of challenges in the industry and in the marketplace. There are key indicators in the market right now that predict that next year will continue to be strong, but at a more normalized rate. There will be lots of opportunities for growth and new communities in Edmonton.

Why buy a new home today with the higher interest rates?

Buying a new home now allows you to lock in your interest rate, which gives you some protection from future rate increases. In addition, the cost of land, labour and supplies is expected to increase next year – and with that, there will be more price increases. Buying now locks in the best price for you.

How are you adapting to the challenges of 2023?

Are you releasing new models, is there a particular innovation you’re excited about?

Excel Homes will be celebrating a big milestone next year in 2023! For the last 35 years, Excel Homes has been a part of the home building industry in Alberta. Since we first began in 1988, we’ve built over 13,000 homes in over 80 communities and we have received over 50 awards for design and industry excellence. Excel Homes is proud to not only build new communities in Edmonton, but to be a part of the Edmonton community. We look forward to sharing many more years together.

In 2023, there will be some exciting new releases such as new anniversary models, new specifications, and more. We have put 35 years of knowledge and experience into creating these new models – we cannot wait to share them with you all.

We are also planning on doing some special events in our communities, as well as giveaways and more. Stay tuned for all the exciting details!

What advice can you give the new homebuyer in 2023?

First and most importantly, lock in your interest as soon as you can to protect yourself from future increases. Secondly, look for a community that best suits your lifestyle, with the amenities that matter most to you. Then look for a floorplan that will best suit your needs, with space for everyone in the family. Think about what you like to do and how you live in your home; for example, do you love to cook big meals? Does your family like to gather? Do the kids need a bonus room to play in? Do you need an at home office? This will help you narrow down the right model to best suit you.

Lastly, look for a builder with strong trade relationships, who is backed by Alberta New Home Warranty and who is Certified BUILT GREEN ®.

What gives you confidence in the Edmonton market?

There’s a couple of things that give us confidence for the year ahead. Alberta is an extremely desirable place to live, with a strong economy and high demand for employment. We have many people relocating to our province from other parts of Canada and worldwide. With this influx, the demand for housing will only get stronger.

At Excel, we have strong, long-standing relationships with our trade partners. This ensures that we get the best people in the industry to help build your home for the best price. It’s always difficult to predict what future markets will do, but there are a lot of key indicators that make us optimistic for 2023.

What are your expectations for 2023? What opportunities do you see?

Similar to the latter part of this year, the biggest challenges that our industry will continue to face heading into 2023 are inflation costs and supply chain issues. I do anticipate, however, that there will be some stabilization, in terms of both interest rates and inflation, in the second half of the year.

Although we are not expecting an ideal market as we head into the new year, we feel that there are opportunities for buyers. Edmonton remains the most affordable urban center in the country and boasts one of the strongest interprovincial migration rates in Canada. In addition, the Alberta economy is best positioned to absorb any potential recession-like conditions that may come our way, making Edmonton a very desirable place to live and own a home.

Why buy a new home today with the higher interest rates?

The biggest benefit for buyers of rising interest rates will be increased promotions, lower prices and more choice.

Over the last two years buyers encountered too many purchasers competing for a historically low inventory of homes. Multiple offers and homes selling above asking price fell into the norm. Higher interest rates are helping mitigate this issue by reducing the number of buyers who qualify for a mortgage loan, thereby pricing some buyers out of the market – which is great news for the buyers who remain. Rest assured, there will be buyers who remain.

Mark Rodier

Partner & GM Coventry Homes

Interest rates will fluctuate throughout the amortization of a mortgage; however, homeowners reap the benefit of the appreciation of the home’s value in the long run. Edmonton is one of the most affordable (if not the most affordable) major metropolitan cities in Canada, and I believe we will continue to see the real estate market here grow because of this.

How are you adapting to the challenges of 2023?

In our perspective, the best way to forge ahead in to 2023 is to remain focused on the key element of our business – our clients. Our corporate purpose is “to enrich people’s lifestyle”, and we take that to heart.

As a large volume builder, we are also conscious of staying at the forefront of product development, market trends and technological applications. We pride ourselves in providing a superior product and are excited to take time to double-down on providing a great customer experience, every time!

What advice can you give the new homebuyer in 2023?

The best advice I can provide someone looking to buy in 2023 is to consult multiple new home experts. There are many options to choose from and is buying a home is not a “one size fits all” approach. Each client has their own set of unique needs and challenges, which need to be considered and addressed. I would advise clients to take ownership of the home buying experience and surround themselves with people, including a builder, who meets their needs and who is positioned to provide the additional support required for the full duration of the home building journey.

What gives you confidence in the Edmonton market?

Over the past 8 years we have seen new provincial governments form, oil prices rise and fall, a global pandemic, unprecedented supply chain restrictions, reduced labour force and ultimately an increase in material costing – just to name a few. Through this Edmonton has remained a very strong and desirable new home marketplace. This is evident by the influx of interprovincial migration we are seeing, as others in the country have taken note of this as well. Additionally, we have one of the highest household incomes in the country which further illustrates why Edmonton is particularly well-suited to not only weather some economic hardship, but come out stronger for it.

Ryan

Smith President Cantiro Homes

WHAT ARE YOUR EXPECTATIONS FOR 2023? WHAT OPPORTUNITIES DO YOU SEE?

Many economists are saying 2023 should see a peak and then decline in the interest rates, continued positive net migration into Alberta and housing demand increasing throughout the year.

The best opportunities for buyers are right now and into early 2023 with quick possessions and homes already under construction. These are priced using lower land and materials costs from earlier in the year and would be more expensive if you started building them now. With many of our supply costs starting to increase again and land prices rising, overall home prices will increase in 2023.

WHY BUY A NEW HOME TODAY WITH THE HIGHER INTEREST RATES?

Interest rates shouldn’t be the deciding factor for when to buy a home. To offset the increase, you can arrange for shorter term financing and renew when the rates are anticipated to be more favourable.

The main factor to consider is the overall cost and completed homes and those under construction now offer the best pricing. You will get a better deal today than you will in 6 months.

HOW ARE YOU ADAPTING TO THE CHALLENGES OF 2023? ARE YOU RELEASING NEW HOME MODELS?

Currently, we are offering buyers assurances by passing along the land and material savings realized on our quick possession homes; reducing their mortgage payments with preferred interest rates through our financial partners; and guaranteeing to refund the difference if the price of their home goes down within the next year.

As for product innovation, in 2021, we introduced 18 new front drive single family home models as part of our Life Collection™ with each meticulously designed to support different families’ needs. The Life Collection have become our most popular models accounting for over 80% of our homes sales. These homes are available throughout Edmonton and Spruce Grove.

We also introduced a new line of three-storey single family homes allowing us to offer an outdoor lounge, landscaping and a rear attached double garage at a lower price point than ever before.

HOW ARE YOU COPING WITH THE CHALLENGES FOR LAND DEVELOPMENT?

We are working closely with our community builders to ensure we are offering the best value to buyers.

We are very excited about the opportunities in one of our newest Cantiro communities within Castlebrook. While most new homes are only available on the outer edges of Edmonton and the surrounding suburbs, this neighbourhood is quietly tucked into an existing community, just off 97 St and south of the Henday. Castlebrook offers the best of both worlds –a brand new home with all of its modern design and features in a mature area with easy access to all your favourite shops, restaurants, schools and recreation that make North Edmonton amazing.

WHAT ADVICE CAN YOU GIVE THE NEW HOMEBUYER IN 2023?

Don’t wait. As material and land costs start to increase again, it is better to have purchased sooner vs. paying more later.

WHAT GIVES YOU CONFIDENCE IN THE EDMONTON MARKET?

Edmonton remains one of the most affordable real estate markets in Canada and our economy is forecasted to be resilient throughout 2023. With continued positive migration into the province, we are confident that we are positioned to perform well compared to the rest of Canada.

What are your expectations for 2023?

What opportunities do you see?

We are launching two momentous communities for our group in 2023 – our first developments in Sherwood Park and St. Albert. These new communities bring us opportunity to expand our business and bring something new to each of these broader communities.

In Sherwood Park, a lack of new lot inventory is apparent, and we will be able to fill that void, offering product type ranging from townhomes up to semi-estate ravine-backing homes which will come in future stages. We are creating an amenity-rich community that offers something for every home buyer. While in St. Albert, the opportunity to build in a community with a diverse product mix is not new, however the architecture and amenities that we are bringing on will be never-beforeseen in the St. Albert market, and still quite new on the Edmonton scene.

How do higher interest rates affect growth prospects in 2023? How is your company meeting this challenge? Higher interest rates mean that homebuyers may have to re-evaluate what they are looking for. In all of our communities we offer a diverse range of products, which offers a product type for every homebuyer, regardless of their budget or interest rates. When designing our communities and putting together our builder groups, we ensure to choose the builders based on their strengths, meaning whether someone is buying

Kelsey Siemens

Sales Manager & Interim Marketing Manager, Land Development Rohit Group

their first home or their forever home, they are getting the best quality and designs available for the product they are purchasing.

How are you coping with the challenges of 2023? Will you be introducing new communities, or new amenities to existing ones? What are you most excited for? Once again, 2023 is presenting us with a variety of challenges. Supply chain issues and inflation still plague the entire industry – both builders and developers. Through this all, we still experienced a high demand for lots and as a result we are introducing a total of three new communities in 2023 – development of the first phases were completed this summer. There are not many plans for new amenities in our existing communities as when we build our communities, we always try to put as many amenities as we can in as close to day one as possible, so that all homeowners are able to enjoy them from the moment they move in. However, in some of our established communities, neighbourhood commercial is beginning construction which will be a welcome amenity for all current homeowners, and a selling feature for prospective buyers.

Where do you see the highest growth prospects in Edmonton and why?

There will likely be growth across all product types. Initially, due to higher interest rates, there may be an increase in smaller products and higher density sales. However, due to Alberta’s diverse employment opportunities and balanced cost of living, we will likely see provincial migration and immigration, where the people moving between provinces will likely fit in that “move-up” category.

What gives you confidence in the Edmonton market?

There is a lot to be confident about in the Edmonton market. We are still one of the most affordable places to live in Canada, making Edmonton an attractive option for both immigration and provincial migration.

The 2023

Home Décor Edit

by SALINA YARA HALABI

GET READY FOR A YEAR THAT’S HIGH ON STYLE AND FULL OF EXCITING WAYS TO ADD A PUNCH OF PERSONALITY TO YOUR HOME. FROM VIBRANT COLOURS TO EXPERIMENTING WITH TEXTURES AND UNEXPECTED COMBINATIONS – YOU’LL FIND ENDLESS HOME DÉCOR INSPIRATION WITH THESE 2023 TRENDS.

STATEMENT NOIR

Taking moody interiors to the extreme, black is here and making some major impact. Typically used as an accent, the colour is now taking over large spaces – like the kitchen where black countertops, cabinets, and accessories are gaining popularity.

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NATURAL ELEMENTS

Connecting with nature continues to drive interior design trends throughout the home. The need to unplug and focus on personal wellness is the key for a balanced life, and textures like stone can help create an at-home oasis with an updated approach.

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METALLIC MOOD

THE LOVE OF LAYERS

The art of layering can seem daunting but taking the time to curate items that feel different, yet come together with unexpected cohesion, creates a je ne sais quoi aesthetic that’s worth the effort. Think layers of accessories, wall art, patterns, and textures.

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High shine décor is in the spotlight. A variety of tones offer a chance for a more personalized styling approach – choose from classic silver and gold, to copper and more playful tones like pink. For an eclectic touch, try mixing metallics.

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White Eagle Homes

the Home of Your Dreams

FAMILY OWNED AND OPERATED, White Eagle Homes has been building gorgeous custom homes in Edmonton and area for more than 20 years. The award-winning team prides themselves on creating unique and high-quality custom homes that set them apart from other homebuilders in the market. With their detail-oriented approach to homebuilding, the homes are renowned in the industry for their standout style and contemporary European flair – you won’t find ordinary design or standard styles here. Whether you’re dreaming of a distinctive duplex home, a spacious two-story for your growing family, or a sprawling bungalow, White Eagle Homes has the expert team ready to make your perfect new home a reality.

A memorable and exclusive experience is key to the process with White Eagle and providing outstanding customer service is at the foundation of their 20+ years of success. Customers are treated like family, and each new home project is given a special level of attention and detail by the White Eagle team. It is the company’s unrivaled approach to customer care and top-quality building style that has led to White Eagle’s countless referrals and repeat business from happy clients. Proudly offering one of the best multi-level warranties in the industry, White Eagle Homes is fully invested in customer satisfaction long after a client has moved into their stunning new home.

White Eagle Homes places their clients first, and the personalized and customized home-building experience each customer receives from start to finish reflects an elevated level of care. Customers have the opportunity to work directly with the White Eagle team through the design and planning process, as well as during the construction phase. There are endless options and upgrades available when building with White Eagle – an amazing opportunity that provides homebuyers with the chance to create a dream home that caters to their unique lifestyle needs and personal taste.

Now more than ever, having a home that is truly tailored to lifestyle needs is incredibly important – whether it be more study and office space, additional room for a retreat, or a kitchen that just functions better. White Eagle Homes are ready to help you create a home that is perfect for you and your family needs.

It’s evident that no details overlooked within White Eagle Homes. Their craftsmanship is unmatched, and the use of high-end materials throughout each home is what leads to a home product that is both luxurious and timeless. Offering innovative designs that reflect the ever-changing lifestyles of today’s families, White Eagle Homes works closely with clients to ensure their home not only meets, but also surpasses their expectations. This includes adding enhanced features like elevators within the home for increased accessibility within their multi-level products.

Over the last two decades, White Eagle Homes have been nominated for numerous local, provincial and national industry awards, including at the 2022 BUILD Alberta Awards where they took home the top prize for best Single Family Home $525,000$600,000 for their Iris model. Other awards include winning the sought-after Ralph Scurfield, CHBA - Alberta Builder of the Year Award in both 2011 and 2012, various single-family home awards at both local and provincial levels.

Homebuyers can currently find White Eagle Homes building their gorgeous properties in the following celebrated communities: Allard, Allin Ridge Estates, Fraser, Tuscany Hills, and Westpointe of Windermere. However, White Eagle is also

able to build anywhere within Edmonton and the surrounding areas, which allows customers to choose the ideal location to build their new dream home.

Explore White Eagle Homes’ showhome in Fraser, located at 204 Fraser Way – and stay tuned for a new showhome opening in fall 2023 within Westpointe of Windermere! For more information or to learn more about White Eagle Homes visit their website at whiteeaglehomes.ca or contact their team at 780.456.5393 or 780.497.8998.

IMPACT HOMES: THE ATTENTION YOU DESERVE

Quality and innovation lead the way with Impact Homes. For over 16 years, their exceptional building process and visionary team has o ered a truly personalized customer experience from start to nish. e Impact focus: giving homebuyers the attention they deserve throughout their new home journey. Providing a world-class experience that is beyond the expected is key to the Impact approach – and it’s achieved by breaking through typical restrictions and rigid controls o en associated with new home designs. Instead, Impact Homes o ers home styles that can be uniquely tailored to customer needs. e result is an award-winning experience that has been recognized by both the CHBA Edmonton Region Awards of Excellence and the Homeowner’s Mark of Excellence Awards.

Locally owned and operated, Impact Homes is a proud member of the Coventry Group. e customer-focused homebuilder brings over 60 years of combined home building experience within their team, which ensures every Impact homebuyer is provided with outstanding service throughout their home buying and building journey. Every home is cra ed with the upmost quality, and special attention to the homebuyer’s unique needs – the goal is to deliver a home that is a true re ection of its new owners. Impact’s innovative new homes with design plans that are customizable allow them to consistently deliver on this promise. eir awardworthy designs took home top prizes at the 2022 CHBA Edmonton Awards of Excellence – including awards for the Trireme showhome within Hawks Ridge, and both the Carina showhome and its Garden Suite in the Village at Griesbach.

Featured within some of Edmonton’s most exciting new communities, Impact Homes o ers singlefamily detached homes built with industry-leading cra smanship and e ective oor plans that are ready to be adjusted to not just meet personal lifestyles but enhance them. In 2022, two new showhomes presenting two new home models were revealed – e Graza and the Basing. e Graza features a unique main oor design, with a large sunken great room that is separated from the dining room and rear kitchen by a half wall and two steps. e separation adds privacy to the great room while not detracting from the open feeling of the main living

space. e Basing boasts a completely open concept main oor with a welcoming front great room, central dining area and a bright rear kitchen. e home’s open-to-below staircase is a stand-out design element, which allows the spacious and airy feeling of the main oor to continue to the second oor.

For 2023, an exciting new model is set to be added to the Impact Homes lineup. e Pinta will be high on style and be available for 18’ pocket homes, as well as tailored to some of the new Zero-Lot Line lots. At over 1,500 sq. ., the model will feature three bedrooms, 2.5 baths, and o er middle and rear kitchen options. e Pinta also brings a handy side entry option, which provides an opportunity for future basement development or a potential revenue suite in the basement – and, Impact o ers the option to nish the basement at the time of build for the ultimate convenience! Homebuyers have the option of choosing either a second or main oor laundry set-up, and can even add a second oor lo to the home. Stay tuned for more details about the availability of this fabulous new home!

Impact Homes builds in some of Edmonton’s most desirable communities – including, Crystallina Nera in Northeast Edmonton, Laurel Crossing in Southeast Edmonton, West Secord in West Edmonton, Riverside in St. Albert, Copperhaven in Spruce Grove and the South Pointe community in Fort Saskatchewan. ere are plans to have quick possession options available in 2023 – bringing an exciting opportunity for new homebuyers that want to experience the Impact home product without the wait. Plus, all homes are ready to be explored via 3D virtual tours on the Impact website for e cient home searching!

For more information about Impact Homes and details on all the wonderful communities they build within, visit impacthomes.ca. Explore the Impact Homes showhomes, open Monday to Thursday from 3pm-8pm, and Saturday, Sunday and holidays from noon to 5pm.

The ease of French Country Design

by C. MARIE HEBSON

Good design never goes out of style. It is important to focus in on a style when renovating, redesigning or building your new home and even more important to create a style for your brand for your business as well.

By keeping your interior fit and finishes classic and timeless, and not pushing your design too “trendy”, will assure that your interior design will withstand the test of time.

Paint, wallpaper, artwork, furnishings can easily be changed and are where I like to show the homeowner’s personality. Whereas the “ fit and finishes” tiles, countertops, cabinetry and millwork need to be thoughtful, classic. It is as important to tie in the exterior with the interior - this creates harmony from inside to outside.

In French County - as shown in these photos - I’ve kept the materials simple, it’s the patterns that are typically complex. Linen, soft hand-made prints, thoughtful millwork details, a mirror in an ornate frame, a vintage rug on a new hardwood floor — all embody a French country aesthetic. I decided to bring in the darker richer charcoal/black/gray elements which ground the space while keeping it fresh and more modern.

French-country combines European elegance with rustic comforts. Using soothing hues, soft patterns, and antique accents, this aesthetic creates an inviting look that’s both polished and lived-in. Truly an elegant way to really live in your home.

Photos compiled are from websites where Marie shops. Various items chosen are befitting the mood and depict best choices for this article. Should you want information on any of these products, please contact interiorsBYDESIGNinc.

interiorsBYDESIGNinc. is a full service design studio based out of Edmonton, Alberta, Canada. Along with many accolades on Houzz.com, DeringHall.com and HGTV.com, my little boutique design studio was on the international cover of CER Magazine which was distributed throughout Russia, Italy, France, UK and North America and more recently on NonagonStyle.com

Plan your interior design success with us and it will reward you for many years to come. Call us today at 780.489.4412 and tell us about your project, we’re here to help.

Good design is not a luxury, it’s a smart investment.