Calgary New Condo Guide - Oct 18, 2013

Oct 18 - Nov 15, 2013 Volume 16 Issue 11

INSIDE THIS ISSUE

001-CCG_Cvr_Oct.indd 1

STYLISH SPACES, BIG AND SMALL

THE PRICE: WHAT TO ASK OR TO OFFER

HOW TO CHOOSE THE RIGHT HOME DEVELOPER

2013-10-09 3:36 PM

CHBA - Calgary Region

2012

002-Remington-Champagne 08-23-13.indd 2

2013-10-09 3:34 PM

Join uS SatuRdaY, nov 16 FoR ouR PRoJeCt launCh

You’re invited!

JOiN uS SaTurDay, NOv 16, 2013 fOr Our prOJeCT lauNCh! See what Calgary’s #1 multi-family builder

See what Calgary’s multi-family has has#1 in store for you at builder Sage Place. in store for you at Cranston Ridge.

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newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 05

BIG SPACES BIG NEWS

INTRODUCING OUR FALL COLLECTION

40 SELECT 2-BEDROOM HOMES STARTING FROM THE $420’S AT CALGARY’S HOTTEST NEW ADDRESS

THE EAST VILLAGE IS THE PLACE TO BE! SUCCESSFUL BUSINESSES ARE CALLING EV HOME: Phil & Sebastian Coffee Roasters, Sidewalk Citizen Bakery, and Charbar, a new restaurant from Connie Desousa and John Jackson, the two chefs who created Charcut Roast House.

WHY EVOLUTION IS CALGARY’S HOTTEST NEW ADDRESS: BIG BOLD LIVING SPACES UP TO 31 STOREYS ABOVE THE CALGARY SKYLINE · EMBASSY BOSA SUPERIOR CONSTRUCTION: CONCRETE WALLS & BETTER DESIGN · CONVENIENT GROUND FLOOR SHOPS & SERVICES · 24,000 SF OF PRIVATE ELEVATED GARDENS · STUNNING CITY OR WATER VIEWS FROM EVERY HOME · NEW 80,000 SF GROCERY AT YOUR DOORSTEP COME SEE FOR YOURSELF · VISIT OUR SALES CENTRE

403 290 0992 EVOLUTIONCALGARY.COM SALES CENTRE 553 RIVERFRONT AVENUE SE. CALGARY • MON –THURS, NOON– 6PM • WEEKENDS & HOLIDAYS, NOON– 5PM

06 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 07

table of contents

Oct 18 – Nov 15, 2013 volume 16 issue 11

11 Cardel

Lifestyles

launching new condo offering in Sage Hill

columns, news & features 010 editor’s note Columnists

Homebuyers’ Help

016 calgaryism Canada is home to the world’s strongest banking system

011 cover story Cardel Lifestyles launching new condo offering in Sage Hill

018 saving space Maximizing small spaces

026 condo profile Sable’s 916 Memorial offers ideal location in Kensington

by cody battershill

by sylvia daoust

BY heather ryan

BY heather ryan

022 contemplating condominiums The price: what to ask or to offer

038 condo profile Discover luxury living at Jayman’s Overture in Currie Barracks

040 Designer Advice Stylish spaces, big and small

052 Purchasing Points Shopping for your new condo developer

by linda palfi

by Yanic Simard

044 Condo Sense Preparing for a mortgage rate increase by cameron mcneill

076 Quick Tips Ease your autumn stress with a little time management

by Hellen Buttigieg

BY heather ryan

BY Lydia McNutt

066 The Mortgage Minute The equity solution

by Peter Kinch

072 In The News Alberta maintains strong economic momentum: RBC Economics 078 Homebuyers’ Help Condo hunter’s checklist 079 Homebuyers’ Help Condo Buyers’ Resource Section 082 INDEX Project Location Maps

015 Northwest Map

058 condo profile Enjoy the “ultimate stay-cation” at Jayman’s Ebony in Mahogany

025 Inner City

062 condo profile Avi Urban offers a smart collection of townhomes with Edison at Walden

047 Northeast Map

BY heather ryan

BY heather ryan

037 Southwest Map

051 Satellite Communities 057 Southeast Map

26 Vice-president, Wall2Wall media

Jacqueline Hill editor-in-chief

Susan Legge editor

Lydia McNutt art Director

Daiana Garay Design editor

Yanic Simard media consultant

Natalie Houghton 587.226.1313 like us on facebook: search: calgarynewcondoGuide

38

contributing editors

Sara Duck Wayne Karl Elisa Krovblit production manager

Bala Gnanapandithan production co-ordinator

Greg Van Sluytman Graphic Designer

Viosa Barileva national account manager, mediative

Paul Slizys PUBLISHED BY

58

2891 Sunridge Way N.E. Calgary, AB T1Y 7K7

newcondoguide.com copyriGHt 2013 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada. aDVertisinG rates

T 587.226.1313 email natalie.houghton@wall2wallmedia.com

62

circulation Copyright covers the contents of this

publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

eDitorial Submissions from interested parties will be considered. Please submit to susan.legge@wall2wallmedia.com

The views and data expressed by columnists do not necessarily represent those of the publication.

Please recycle this magazine! Wall2Wall Media participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

DOWNSIZING SPACE, MAXIMIZING LIFESTYLE

SUSAN LEGGE

EDITOR-IN-CHIEF

Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook search: Condo Guide

Are there one too many empty rooms where you currently live? Perhaps you’re imagining what life would be like if you didn’t have to worry about chores such as gardening, raking the leaves and exteriors that need painting. There is so much to be gained in your lifestyle when you decide to downsize into a condo.

Lifestyle opportunities abound in a condominium, and you won’t have to sacrifice any lowrise luxuries to get them. In fact, by becoming a condo dweller, you may find you have even more time to enjoy them than ever before!

The fact that all of the fixtures and appliances in your suite are brand new and all of the condo’s common areas, landscaping and facilities are taken care of means less work for you and more time to enjoy it all.

Buying a condominium is a serious decision, and a significant investment, so it is imperative that you do your homework and research the market so you can be confident that you’re getting the best builder and the most value for your money.

Let us know what you think of this issue. We’d love to hear from you.

SEPARATING THE WHEAT FROM THE CHAFF

LYDIA MCNUTT

EDITOR

Wall2Wall Media Lydia.McNutt@wall2wallmedia.com Follow me on Twitter at Twitter.com/LydiasTweets

If you’re in the market for a new condo in the Calgary area, you can be sure that you’re buying from some of the best builders around.

The winners of the 2013 Alberta Awards of Excellence in Housing have been announced recently, honouring the Canadian Home Builders’ Association–Alberta’s top builders, developers and renovators, as selected from a record 412 entries from across the province.

Congratulations to all the winners!

So, how do you narrow down which builder is right for you?

Start your search with some research. With the Internet at your disposal, the information you seek is at your fingertips. What builders are out there? How long have they been in business? How many new communities have they completed?

What are they building, and where?

Can they deliver your must-have list of the trendiest finishes? Eco-friendly

10 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

features? Luxury amenities? Discover what makes each builder different (and better) from the rest.

While the Internet is a valuable tool, you can’t beat the face-to-face experience. Visit some sales centres and show suites, speak with staff, and get a tour of a building site to see the team in action.

Now that you have the builder’s take on their product and services, get an unbiased opinion. Check out a completed community by the builder you’re considering, knock on some doors and stop a resident in the lobby to ask about their homebuying experience from start to finish? Would they recommend this builder to family or friends?

There’s so much choice in Calgary, whether you seek a small city suite in or spacious townhome – potentially by an award-winning condo builder which makes you, the homebuyer, the real winner.

COVER STORY

CARDEL LIFESTYLES launching new condo offering IN SAGE HILL // BY HEATHER RYAN

CARDEL LIFESTYLES ALWAYS HAS THE UNIQUE ABILITY TO FIND AMAZING

locations that will offer their customers the conveniences of shops, parks, pathways and great access at the doorstep. With its newest condominium offering, Sage Place in Sage Hill, Cardel has done it again.

“We’re really excited about being able to offer an affordable condo development in a location with all the conveniences people want,” says sales and marketing manager Brad Logel, noting that prices start at $169,900.

Sage Place will be located “in the new northwest, just off Shaganappi Trail and 144th Avenue,” he says, offering great access points and terrific transportation routes with Sarcee Trail, Stoney Trail, Symons Valley Parkway and Sage Valley Boulevard all nearby.

Further, Sage Hill presents a picturesque natural setting with rolling hills and ravines, established pathways and parks, and residents will be able to walk to a commercial site right across the street that is expected to begin development in 2014, offering a range of shops and services.

Sage Place will consist of four, four-storey buildings with 48 apartment-style condos in each and the site size allows for development of a landscaped park and extensive parking, “and the ability to purchase an extra parking stall, which is rare with most condo locations.”

Sales for Sage Place will launch Nov. 16 from the existing showsuites and sales centre in Cardel’s highly successful Panorama West development in Panorama Hills, which has just a few suites remaining. newcondoguide.com | Volume 16 issue 11 | NEW CoNdo GuidE 11

Interested buyers will also be able to visit a sales presentation centre at the Sage Place location.

Among the showsuites at Panorama West are two of Cardel’s most popular two-bedroom designs that will be offered at Sage Place, Logel says.

“It’s hard to say if any development is as popular as Pan West. By Aug. 1 we sold 91 suites for the year, so we know which suites have been the most desirable and we want to give buyers an opportunity to enjoy those designs in Sage Place.”

Buyers will find the 653-sq.-ft. anniversary two-bedroom, one-bathroom suite and their most popular plan – the 897-sq.-ft. two-bedroom, twobathroom Panorama – along with four different two-bedroom, twobathroom corner suites ranging from 940 to 1,039 sq. ft.

They’ll also love that Cardel allows them to personalize their suites and is offering an assortment of four colour choices for Sage Hill. “The cool thing is there’s a great ability to customize and you can live your HGTV dream,” Logel says.

Logel says they will have the same high quality that people have come to expect from Cardel, including large spacious plans, patio decks, six appliances, a storage locker and underground parking, along with greatlooking Hardie Board exterior siding.

Buyers will also benefit from Cardel Lifestyles’ “industry-leading low deficiencies,” exceptional customer service, high-quality construction and its amazing sound attenuation.

“It’s also super important for us to build in a timely manner because we know wait times are critical for people,” Logel says. “We’re typically able to 12 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

build in 10 to 11 months, so people can feel confident knowing they don’t have to wait 18 to 24 months to move in.”

The location of Sage Place means residents can enjoy a vast range of existing shops, groceries, coffee shops, services, restaurants and more at Creekside Shopping Plaza and Beacon Hills, both just minutes away, and they can even walk to the local farmers market at the Symons Valley Ranch.

To learn more about Sage Place, visit the on-site presentation centre or the existing showsuites at Panorama West, located at 175 Panatella Hill N.W., open Monday to Thursday from 2 to 8 p.m.; weekends and holidays from noon to 5 p.m. For more information call 403.241.8975 or visit cardelcondos.com.

“ It’s hard to say if any development is as popular as Pan West. By Aug. 1 we sold 91 suites for the year, so we know which suites have been the most desirable and we want to give buyers an opportunity to enjoy those designs in Sage Place.”

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NORTHWEST

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16

FO OT TR A ER

15 T HE GROVES OF VARSITY

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E Sage Meadows Circle NW IV16 18 S ONOMA AT SAGE HILL

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01 .

BLVD S L IL H

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Show suite 175 Panatella Hill NW

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BY CARDEL LIFESTYLES COMING SOON

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AIL TR AP I SH

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05 TRY N COU BED DIN GTO NT RAI 14 LN ST W RE ET

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OOT T

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CALGARYISM

// BY CODY BATTERSHILL

Canada is home to the

WORLD’S STRONGEST BANKING SYSTEM TOP 10 STRONGEST INDIVIDUAL BANKS (2013)

A report released by Bloomberg Markets only a few months ago supports the World Economic Forum’s findings. According to Bloomberg, four of the top 10 banks in the world are Canadian. Here they are: 1. Qatar National Bank – Qatar 2. Oversea-Chinese Banking – Singapore 3. Canadian Imperial Bank of Commerce – Canada 4. Royal Bank of Canada – Canada Cody Battershill is the founder of Calgaryism and a top-producing realtor at Re/Max House of Real Estate. He also sits on the condominium task force at the Calgary Real Estate Board. He can be reached at 403.370.4180 or calgaryism.ca

5. DBS Group Holdings – Singapore 6. United Overseas Bank – Singapore 7. Bank of Nova Scotia – Canada 8. Toronto-Dominion Bank – Canada 9. Citigroup – United States of America 10. Hang Seng Bank – Hong Kong LATEST ECONOMIC DOWNTURN AND CANADIAN BANKS

C

anada’s banking system was ranked the world’s strongest for the sixth straight year by the World Economic Forum.

The Global Competitiveness Report, released on Sept. 4, 2013 by the Geneva-based organization, placed Calgary as number one of 149 evaluated countries.

When Canada’s financial institutions escaped the economic drought in 2008 relatively unharmed, they soon became known as the strongest in the world.

Bloomberg also mentions that Canadian banks started making moves to gain on the woes of smaller banking institutions ever since the latest economic downturn.

The six biggest banks in Canada (Canadian Imperial Bank of Commerce, Bank of Nova Scotia, TD Canada Trust, Royal Bank, Bank of Montreal, National Bank of Canada) since 2008 have made around 100 acquisitions and have spent almost $38 billion doing so.

CANADIAN BANKING FACTS » The banking sector added around $53 billion, or 3.1 per cent, of the national GDP to the economy in 2012 » Approximately 275,000 Canadians are employed by the banks. Full-time positions have increased a bit more than 25 per cent over the past decade (2012) » Also in 2012, $12.6 billion in dividends were paid to shareholders, which includes Canadian citizens through retirement plans and pensions » Around 1.6 million small- and medium-sized businesses are financed by the banks (Sourced from World Economic Forum, Bloomberg Markets, Canadian Bankers Association)

How lucky are we to be living in Canada? Very! We not only have the strongest banking system, but also have three of the top five most livable cities in the world, not to mention several other prestigious accolades as of late. Up, up and away Canada!

Want to get involved in the Calgary community? I invite you to join Facebook.com/Calgaryism and on Instagram and Twitter @Calgaryism today!

16 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

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Saving Space

// by sylvia daoust

Maximizing small spaces

3. Mobile Office – Sometimes all you need to create an “office” space is a

Sylvia Daoust, owner of Niche Small Space reDesign, is one of Calgary’s only professional organizers with expertise in small spaces. She is renowned for simplifying homes and offices with mini-renovations, redesigned rooms and tricky organization projects. Join her blog, nicheredesign.com/blog/ where smart solutions transform challenging spaces every week! Follow Sylvia on Facebook.com/ nichedesignsinc AND Twitter@SylviaDaoust.

L

iving in a smaller-sized interior ensures you only keep what you really need. A necessary evil, you might say. There is an upside though. The process of making it a functional home gives you an opportunity to get creative.

Check out these room-expanding tricks and embrace the challenge of your small space!

1. Create Space – Don’t push your furniture up against a wall, with the hope that you’ll gain space.

Instead, place pieces at angles to let the room breathe and allow good flow.

2. Flexible Furniture – There are so many sleek table designs out there. A fold-down table or one that is extendable is a smart choice for

small spaces.

18

wall-mounted desk and stool placed in the corner of your living room, or on a landing area.

4. Sell the Big Stuff – Your large furniture pieces, such as an armoire and dresser, take up too much valuable floor space. Invest in a bed with built-in storage drawers and clear out off-season clothing from your closet to free up some space.

5. Maximize Vertical Space – Just by adding a few extra shelves to your closets and cupboards, you can double your storage.

6. Space Savers – Swing-arm sconces are great space savers. No need for extra tables when lighting is mounted to the wall!

7. Store outside the Box – Be willing to store items in unusual places.

Who says the seldom-used serving dishes can’t find a home in an underbed box?

8. Go Modular – Cube-like furniture pieces can be configured in endless ways to provide storage in little nooks and crannies.

9. Back to Back – Placing a storage piece like IKEA’s Expedit unit behind a love seat horizontally gives you a ton of storage without taking up more floor space.

10. The Décor – Clean, crisp colors, good lighting, and a few mirrors can work wonders to make your place feel more spacious.

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CONTEMPLATING CONDOMINIUMS

// by Linda Palfi

The price:

what to ask or to offer

Linda Palfi is a condominiumspecialist realtor with Discover Real Estate. She has overseen many condo projects as the chair of her condo board and is a member of the professional standards committee at the Calgary Real Estate Board.

Further articles and her Calgary Condo Directory can be found online at CondosInCalgary.com. Call Linda for more information at 403.998.7732

W

hether buying or selling a condominium property, the most difficult question is often: what is it worth? Setting an asking price or deciding how much you’re willing to pay for the suite you like involves both factual and subjective considerations.

Arriving at the answers is part science, yet largely it’s an art.

Let’s look first at selling. You know what you paid for your home all those years ago, and you know the approximate percentage that the market has appreciated since then. You know that your tax assessment is largely inaccurate because the city is always chasing the market, which has fluctuated dramatically in recent years. The condo-specialist realtor you retain will prepare a comparative market analysis (“CMA”) of recent sales in your building and in your neighbourhood, and will suggest a value range. You can also get the big picture from the Calgary Real Estate Board’s web site, where city-wide and neighborhood sales statistics are posted at CREB.com.

While all this will indicate the approximate value for your condo home, there may be more competition on the market right now than last year – or vice versa. You may also have made improvements that other suites didn’t offer; or you may have neglected to do maintenance and would rather not do that work before moving. Finally, you need to stir in your own urgency, or lack of urgency, for the sale. Price your suite higher and a sale will take longer, or perhaps not come at all. Price it lower and you’re guaranteeing that you’ll receive less, but you’ll likely be dealing with an offer quickly and be able to relocate soon.

Sellers also need to bear in mind the inconvenience of having their property listed for sale. Keeping a home tidy and without many personal photos is enough of a burden, but add to that the number of times your realtor will alert you to a dinner-time showing for which you should not be home. Many sellers who thought they’d be okay with the disruption sing a different tune after 50 or 100 viewings. (If you have 50 or 100 viewings without an offer, by the way, you’re likely priced too high.)

Buyers considering the purchase of your suite face mirror-image questions. If the buyers have seen several properties that meet their needs, they’re going to drive a harder bargain than if this is the only one that works for them. Those shopping for a condo suite or townhouse will also be either motivated by urgency or have all the time in the world, depending on their situation. For some, Mom’s basement or the rental suite would be just fine for more months or years to come, while other buyers sold a place and have a transferable-mortgage deadline looming or have “locked in” a good interest rate when they are about to rise.

I find that buyers have an advantage over sellers in arriving at the value of properties because they’re out in the marketplace actually looking at dozens of comparable suites, while sellers arrive at their value conclusions in a degree of isolation.

In all cases, though, the final decision for sellers as to what amount to ask, what to finally accept, or for buyers as to what to offer and finally agree to pay, are those of the client, not of the realtor assisting them. The best realtors explain to their clients the options they have in various real estate situations and detail the possible consequences of those options.

For sellers, as I mentioned above, an example will be that a possible consequence of listing at a higher price is that the seller will net more money, but another possible conclusion of choosing that option is that the many disruptive viewings could yield no sale at all.

For buyers, an example would be that offering a seller much less than the asking price could obtain a bargain, but another possible consequence will be that the seller will refuse the offer and also take a harder line in further negotiations, or just refuse further negotiation with that prospective buyer.

All these options, and their possible consequences, are in fact the stock in trade for realtors and their clients. How much to ask for properties or what to offer to buy them are complex decisions based in part on facts and in part on emotions and perceptions of value. The raw data and informed advice can be supplied by the condospecialist realtor. The decisions are yours, made with your circumstances and your emotions taken into account.

22 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

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N

Symons Valley Rd

NOLAN HILL

ag Sh

Find us at: jayman.com/trinity

BEACON HILL Shopping Centre Stoney Tr

10/4/2013 5:34:31 PM

ESTIVAL. REASON NO. 806 LONGBOARDING DOWN MEMORIAL DRIVE. REASON NO.807 PRIME SUN-TANNING GRASS WITHIN SIGHT. REASO ON THE RIVERBANK. REASON NO.809 FISHING ON THE BOW. REASON NO.810 REGGAEFEST. REASON NO.811 SOUTH FACING PATIOS. REASO WITH FRIENDS AT RILEY PARK. REASON NO.813 MORNING RUNS ON THE WATER. REASON NO.814 “BULLDOGS’ ON JULIOS BARRIO PATIO ORGETTING YOUR CELL PHONE TO GO PLAY OUTSIDE. REASON NO.816 FINISH YOUR RIVER RAFT AT YOUR FRONT DOOR. REASON NO.817 BB OWN VIEWS. REASON NO.818 WINE THEN WALK. REASON NO.819 PICNIC IN PRINCES ISLAND PARK. REASON NO.820 SWIMMING IN THE BOW. PIN CLASS OUTDOORS. REASON NO.822 SKYLINE SUNSETS. REASON NO.823 SUNNYSIDE. REASON NO.824 PLAYING CATCH. REASON NO.82 EST FRIEND ON AN ACTUAL WALK. REASON NO.826 BOOTCAMP IN THE PARK. REASON NO.827 WATCHING “BOW RIVER GLOW” FROM HOME 24 MOONLIT STROLLS ALONG THE WATER. REASON NO.829 GETTING CAUGHT IN THE RAIN. REASON NO.830. FEWER SONGZA WORKING P ONGZA ENTERTAINING COOL FRIENDS PLAYLISTS. REASON NO.831 LARPING IN THE PARK. REASON NO.832 SUNDAY FUNDAY. REASON NO.8 HE RIVER. REASON NO.834 CAPPUCCINOS AND CARDS ON THE NEW BOARDWALK. REASON NO.835 HIKE THE STAIRS AT CENTRE STREET.

INNER CITY 08 P IXEL

BY BATTISTELLA

9A St and 2nd Ave NW www.battistella.ca

RILEY PARK 6 AVE N

VE 4A

5 AVE N

12

VE 2A

3

N

SUNNYSIDE 20 STATION 08 05 17

09 S OLAIRE

BY LA CAILLE GROUP

888-4th Ave. SW Presentation suite 912-5th Ave. SW www.solaireliving.ca

ROTARY PARK

PRINCE’S ISLAND PARK

10 B RIDGELAND CROSSINGS

BY APEX CITY HOMES

16

EAU CLAIRE04 MARKET

09

01

Coming Soon bridgelandcrossings.ca

11 KEYNOTE

10

220 12th Ave. SW

4 AVE S

06

13 18

5 AVE S

12 S T. JOHNS TENTH STREET

BY STREETSIDE

6 AVE S

MILLENNIUM PARK

19 02

CONVENTION CENTRE

9 AVE S

07

MACLEOD TR

COLONEL BELCHER HOSPITAL

11 1 ST E

12 AVE S

1 ST W

2 ST W

4 ST W

5 ST W

8 ST W

10 ST W

14

11 AVE S

MOUNT ROYAL VILLAGE

VICTORIA PARK / STAMPEDE STATION

TALISMAN SPORTS CENTRE

4 ST W

5 ST W

CLIFF ST

17 AVE S

26 AVE S

01 R IVERFRONT POINTE

BY CARLISLE GROUP

101 Riverfront Avenue S.E.

02 M ARK ON 10TH

BY QUALEX

901 - 10th Ave S.W.

03 4 3 PARK

BY VERICON REAL ESTATE VENTURES 43park.ca

04 W ATERFRONT

BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

CALGARY EXIBITION AND STAMPEDE PARK ERLTON / STAMPEDE STATION

PROSPECT AVE

10 ST W

23 AVE S

FORT CALGARY

CITY HALL

OLYMPIC WY

GREYHOUND BUS TERMINAL

26 AVE S

15

05 V EN

BY BUCCI

835 5th Ave. NW Coming Soon Show Suite 306 10th St. NW vencondos.com

06 A VENUE

BY GROSVENOR & CRESSEY 1035 5th Ave. SW

07 D RAKE

BY GROSVENOR

Visit Sales Centre at 2nd Floor, 850 - 16 Avenue S.W

10th St. & 3rd Ave. NW

13 F IRST

BY FRAM + SLOKKER

East Village Experience Centre 553 Riverfront Ave. SE

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BY LAMB DEVELOPMENT CORP. 15 L UCIDA

BY CHELSEA HOMES 3804 MacLeod Tr. S

16 S TEPS BRIDGELAND

BY GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

17 9 16

BY SABLE DEVELOPMENTS Coming Soon

18 E VOLUTION

BY EMBASSY BOSA INC.

East Village Experience Centre 553 Riverfront Ave. SE

19 V ERVE

BY FRAM + SLOKKER Coming Soon

20 L IDO

BY BATTISTELLA COMING SOON

Sales Centre 1120 Kensington Rd Register: www.battistella.ca/ registration.html

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 25

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1035 5

condo profile

Sable’s 916 Memorial offers ideal

location in Kensington // By Heather Ryan

f

inding existing buildings in prime neighbourhoods and restoring them to offer condo buyers incredible value with innovative design features, practical floor plans and a high standard of quality is the mission of Sable Developments Inc. For the past 15 years, Sable has built its reputation for quality, inner-city redevelopment with over a dozen projects in neighbourhoods like Mount Royal, Mission, Beltline, Parkhill and Hillhurst, and the developer does it again with a new offering – 916 Memorial, in the highly sought after, vibrant community of Sunnyside in Kensington.

“916 Memorial is aptly named after its geographical location on

Each suite will come with one assigned parking stall, and a metal carport will be erected with lighting and electrical plug-ins. There is also a bike storage garage off of the lobby.

Memorial Drive N.W. – across from the Peace Bridge,” says marketing manager Lara Grimm. “Sable secures prime, inner-city Calgary locations that offer a high degree of easily accessible lifestyle options and this is an ideal location where people can live, work and play.”

Grimm notes that Kensington offers a myriad of boutiques, restaurants, pubs and services, and Riley Park, McHugh Bluff, Princes Island and the pathways along the Bow River provide lots of green space for outdoor enthusiasts. “We’re also located a short walk to the Sunnyside LRT station and across from the Peace Bridge, so access to downtown by foot or bike is easy.”

916 Memorial is a five-storey concrete building with an elevator and it’s being renovated and modernized to include 37 units offering 10 different floor plans to meet the needs of various buyers. The building is comprised of one-bedroom and two-bedroom designs ranging from 498 to 773 sq. ft. and affordably priced, with many units under $300,000.

26 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

“Our primary target is first-time homebuyers aged 25 to 35, so we wanted to offer a unique and affordable real estate opportunity that is not only aesthetically highly desirable, but also financially responsible,” Grimm says. “916 Memorial will appeal to young professionals looking to get into the real estate market but who don’t want to be house-poor because they want to have a budget for socializing, shopping and dining out with friends.”

Buyers will also appreciate the well-appointed interiors including stainless steel appliances, quartz countertops, glass-tile backsplash and soft-close, flat-panel cabinets in the kitchen and bathroom, laminate flooring in the main living area with tile in the entry and carpet in the bedrooms, in-suite laundry with full-sized front-loading washer and dryer, and soaker tubs in the bathroom. The suites also have patios finished with cedar accents, and buyers can choose from two paint colour schemes.

“The interior appointments were selected by interior designers to be stylish and contemporary,” Grimm says, but there are some minor optional upgrades available for owners to personalize their space.

The building also offers several Green features including new low-E windows, a recycling room, energy-efficient Energy Star-rated appliances and LED pot lights in the hallways.

floor plan

two bedroom, one bath, 743 sq. ft.

Each suite will come with one assigned parking stall, and a metal carport will be erected with lighting and electrical plug-ins.

There is also a bike storage garage off of the lobby.

Sable is also modernizing the exterior of this character building with cedar plank deck accents and painting of the existing brick in a neutral tone which will maintain the building’s charm and aesthetic within the existing neighbourhood.

At 916 Memorial, residents can take advantage of the numerous amenities within walking distance of the neighbourhood, and being situated across from the Peace Bridge and close to the LRT they’ll appreciate not needing a car to get to work, Grimm says. for more information about 916 Memorial, visit the sales centre and showsuite at 916 Memorial dr. n.W., open thursday from noon to 7 p.m., and friday and Saturday from noon to 5 p.m., or check out 916Memorial.com.

27

28 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

INNER CITY

3

77

46

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N OS ND G T O ON CO W SIN GT NE IN ms EN K roo NS N i t s bed I KE u n hree IN 60 d t l y an onne, two

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battistella.ca/lido newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 29

Propellus helps non-profit organizations soar and when they succeed...

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WITH THOUSANDS OF CONDOS SOLD

KissYour Landlord Goodbye!

WE ARE ALBERTA’S TOP SELLING CONDO BUILDER

ARE YOU TIRED OF RENTAL INCREASES?

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AT RIVERFRONT POINTE 325 3RD ST. SE (ACROSS FROM BOOkERS) FOR MORE INFORMATION:

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Canadian Home Builders’ Association

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RiveR views. Just the FiRst thing to take YouR BReath awaY.

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The renowned CresseyKitchen™ features a revolutionary walk-through design that creates a larger kitchen, more storage space, and so many beautiful extras like a gas cooktop, wine rack and full-size French Door refrigerator.

The desirable West End neighbourhood offers that rare balance between beauty, tranquility and urban energy, with shops, boutiques and the Bow River Pathway located in your own front yard.

The first new West End towers in years will be as impressive as their surroundings. Homes have been expertly designed to be the most functionally elegant in the city, and will feature Calgary’s first ever CresseyKitchen™, three contemporary colour scheme choices, real hardwood flooring, air conditioning and so much more.

For More Information: avenuewestend.com 403-530-8455 This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E.

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CALGARY INTERNATIONAL AIRPORT

64 Ave

16 AVENUE

4

SARCEE TRAIL

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NM

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1020 194th Ave S.W. www.hunterhouseliving.com

ME M O R I AL

DR

IV E 02 SILVERADO

BY SLOKKER

Silverado Way & Sherrif King Rd

36 STREET

03 17 Ave

37 STREET

69 STREET

85 STREET

12

01 HUNTER HOUSE

BY STREETSIDE DEVELOPMENT 16 AVENUE

03 OVATION

BY INTERGULF CIDEX

#2105, 99 Spruce Place S.W.

07 10

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

E

14 STREET

ENU

16

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

05 11

04 THE LANDINGS

BY STATESMAN

771 Patrick St. S.W.

05 OVERTURE

BY JAYMAN MODUS Coming Soon

GLENMORE RESERVOIR

175 Silverado Blvd S.W.

BARLOW TRAIL

MacLEOD TRAIL

06 SAWYER SILVERADO

BY AVI URBAN

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

07 GLAS

BY AVALON

Coming soon in Marda Loop

10 VICTORIA CROSS

BY AVI URBAN

OOT T

12 EIGHTY5NINE

BY VERTICAL PROPERTIES

AIL

TR

AIL D TR LEO SHERIFF KING ST. SW

VITT

McKE 194 AVE

Mac

S JAME

02 01 06

J5, 2953 Battleford Ave. S.W.

M

EK P ARK

TTO BO

CRE

SHAWNESSY BLVD.

11 CURRIE BARRACKS

BY CANADA LANDS COMPANY

W BO

FISH

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RAIL

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COMING SOON Townhomes with garage in the 200’s CONDO GUIDE BANNER CLIENT: Streetside PROJECT: Hunter House INSERTION DATE: July 2013 SIZE: 6.75” x 1.5”

More room for life. hunterhouseliving.com

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 37

condo profile

Discover luxury living at

Jayman’s Overture in Currie Barracks

s

// By Heather Ryan

ignature, upscale condominium residences that offer truly luxurious, executive single-level living in a premier southwest location is being brought to life by Jayman Modus.

Overture in Currie Barracks was unveiled in mid-September and “consumer response was extremely positive,” says project marketing specialist Sandi Serr, noting the feedback included: “simply stunning,” “gorgeous” and “Jayman has definitely captured the market for inner-city living.”

“At Overture, every residence and penthouse has been created to welcome you home to Jayman Modus’ distinct brand of fine materials, elegant finishes and inspired design,” Serr says, adding that buyers will discover beautifully detailed interiors that are designed to maximize natural light, distinctive architecture, and outdoor terraces that allow residents to enjoy the city and mountain views.

The name Overture was inspired by Jayman’s chairman and CEO Jay Westman and his appreciation for one of the world’s great luxury brands – Napa Valley’s Opus One winery, Serr says. “Overture is a celebrated wine available exclusively and in small quantities from the Opus One winery, which was founded in 1979 by Europe’s legendary Baron Philippe de Rothschild and

38 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

New World master Robert Mondavi.

Like all Opus One wines, Overture is the result of the skill of its winemakers, and of the remarkable characteristics of the land on which its grapes grow and mature.

“As inspiration for Jayman Modus’ new signature development in Currie Barracks, the name Overture reflects our passion to realize the same levels of authenticity, craftsmanship and excellence that its namesake wine is known for,” she says. “Overture pairs perfectly with graceful living and refined design, and is a fitting name for your new Jayman home.”

Spa ensuites include shower and freestanding tub, and oversized his ‘n’ her walkin closets with custom shelving and closet organizers Comprised of three buildings, Overture features 63 luxury suites offering a choice of 11 floor plans and underground parking with prices ranging from the $470,000s up to $1.5 million plus GST for penthouses.

Floor plans for the residences include one-bedroom suites sized from 866 to 1,013 sq. ft. and two-bedrooms ranging from 1,188 to 1,638 sq. ft.

Well-appointed interiors define upscale city living with open-concept plans that feature soaring 10-ft. ceilings, six-in. baseboards, floor-toceiling windows, engineered five-in. wide solid engineered hardwood flooring, air conditioning and extended outdoor space with large patios and balconies.

Gourmet kitchens feature top-of-the-line stainless steel appliances, expansive chef’s islands, custom cabinetry, quartz waterfall countertops and stunning countertop-to-ceiling backsplashes.

Spa ensuites include shower and freestanding tub, and oversized his ‘n’ her walk-in closets with custom shelving and closet organizers.

Overture penthouses take luxury to the next level with enhanced features and finishes with twobedroom floor plans sized from 1,731 sq. ft., and three-bedroom-plus-den floor plans sized at 2,543 sq. ft. and oversized terraces up to 1,345 sq. ft. featuring outdoor fireplaces.

As well, low-maintenance living at Overture provides residents with

“the freedom to literally lock and leave their residence, travelling for extended periods without concern for their home’s landscaping, maintenance or security,” Serr says.

Overture offers an outstanding location placing everyday conveniences such as coffee shops, restaurants and boutiques in Currie Barracks’ Europeaninspired “High Street” area within walking distance and residents can access a wide range amenities in neighbouring Marda Loop. Residents can also enjoy the outdoors at Valour Park, Victoria Cross Park or on one of the many pathways, and major roadways nearby provide easy access to downtown and across town.

“Currie Barracks offers Calgarians the best of all worlds – the intimacy of a lovely, heritage-inspired neighbourhood, an ideal location close to downtown and city conveniences, along with the open spaces and amenities that make community living as easy as it is enjoyable,” Serr says.

For more information, visit the presentation centre and showsuite in the Currie Barracks sales centre (J5, 2953 Battleford Ave. S.W.) open Monday to Thursday from 2 to 8 p.m., and weekends and holidays from noon to 5 p.m. or visit jayman.com/overture. newcondoguide.com | Volume 16 issue 11 | NEW Condo Guide 39

Designer Advice

Stylish spaces,

big and small // by Yanic Simard // Photo by Brandon Barre Like the story of Goldilocks and the Three Bears,

it seems impossible to find a home that’s juuuust right: some are too big, many are too small, and finding that perfect balance between comfortable and cosy can leave you wanting to just lie down. However, if you combine some cleverness with some realistic solutions, and maybe trading in or selling a few items, any sized space can feel like home. Whether you need to expand or slim down, follow my tips to fit in everything you need – and plenty of style too.

Pick a Focal Point

›› Rooms of any size need a focal point. The human brain wants to be given a place to look, and so the most beautiful schemes always give the eye something to zero in on as a starting point. ›› With wallpaper back in full force, it’s a perfect way to create an accent wall. Try using it just around the fireplace, on one end of a dining room, around a vanity or behind your bed’s headboard (or even framed as the headboard itself). ›› If you don’t want to commit to wallpaper, you can 40 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

achieve a similar effect with paint. Go all-in on a bold colour for just one wall and let the rest be a neutral or a much lighter shade. ›› In a very tall space, let the ceiling be the focal point for a surprising effect. In a tighter space, dress a wall that’s broken up with an architectural feature (like a window, fireplace or shelving) to make this bold focal statement without feeling overwhelmed.

Anchor’s The Way

›› One key way to anchor a living or dining space is with an area rug. It’s a perfect opportunity to inject some colour into a neutral palette, or add a peaceful oasis where the look is busier. Even kitchens have been getting textural touches lately, with long runners (rectangular strips) giving the chef a little underfoot padding and a less utilitarian look. ›› Your rug should be big enough to tuck under the legs of your seating, not float between them like an island or bump into the walls. As a budgeting guideline, consider the cost of your best sofa - an investment rug deserves about the same. In a very small space, use one large rug CONTIN U ED o n p a g e 4 2 . . .

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Designer Advice continued…

that lets everything connect seamlessly. For a large room use multiple rugs, or use one in just a central area, defining smaller zones. ›› An organically shaped cowhide is great for awkwardly shaped rooms with virtually any scheme. ›› For pattern and colour, try a timeless Persian carpet.

The look is classic yet trendy, and pairs well with modern and traditional furnishings. Look to Ikea for accessible options if you aren’t prepared to spring for an antique. ›› To add demure luxury in a more neutral tone, try a low-pile shag in champagne, ice blue, pale pink or “greige”.

Mix It To Max It

›› Even if you have strictly modern or traditional taste, a room of any size needs a little bit of mixing to achieve the best recipe. Combining multiple textures is very important to give a small space visual variety (especially since you can then keep the colour consistent and airy), and just as important to keep a large space from feeling monotonous. Try to include at least five of these in every space: wood, glass, metal, leather, fabric, plastic and paint (not just your walls, but also art). ›› Mixing high end and low end gets better results than spreading out your budget evenly across the board.

Invest in a few pieces you really love, and then support them with budget-friendly finds. I do this often even in the most high-end designs. For small accents like pillows, you really can find amazing pieces at discount outlets. Just keep some money aside for that last musthave piece you absolutely need to finish off your scheme and give yourself permission to splurge. ›› I believe every space should have at least one midcentury modern piece. The classic BRNO cantilevered chair mixes sleek metal curves with natural leather to create a timeless style that always read as sophisticated.

Sweet (and stylish) dreams

›› In any sized space, you don’t want the bedroom décor too loud when you’re trying to get some quiet rest. Use tone-on-tone patterns, mirrored surfaces and cool hues to add visual interest that will fade away under moonlight. ›› I like to incorporate a seating area into the bedroom.

Adding a chair next to the bed gives you a place to read the paper or tie your shoe, but also a place to drop a book or glass as you drift off. In a tight space, go for a lightweight metal or plastic chair. Transparent “ghost” chairs are perfect for maintaining visual openness. In a larger space you can opt for a more plush upholstered piece, and add a serving tray when you want a flat surface.

Then, add a floor lamp (or sconce) for a reading light. It’s a quirky look full of personality, and function too.

Plumb Perfect

›› Although it may seem counter-intuitive, large tiles can help make any bathroom appear bigger. Cladding the floor or walls with a stone showing little colour variation such as clean porcelain, pale slate, or softly veined marble (grouted minimally) will create the illusion of an unbroken plane, maximizing visual length. ›› Powder rooms are the perfect place to experiment and embrace styles you might otherwise find too wild.

Nobody has to “live” in the space so you can opt for high drama. The small vanity space is a great place to splurge on marble, and you can tile the entire wall surface in an evocative pattern. Hang a high-impact pendant or chandelier in the centre to “wow” your guests.

42 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

Yanic Simard is the principal designer of TIDG, a regular design guest expert on Cityline and columnist for The Toronto Star newspaper. Follow him on Twitter @yanicsimard or on facebook.com/yanic.simard. Read his blogs on tidg.ca and every Thursday on the Thermador Facebook page’s blog (facebook.com/ThermadorCanada). Yanic is design editor of New Condo Guide and writes for many other Canadian and international publications. Send questions or comments to info@tidg.ca

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Location of the Discovery Centre is on the corner of 17th and 1st SE. Hours of the Centre are Mon-Thurs 12-6 & Sat/Sun 11-4. Call Christina at 587.433.4416 newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 43

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2013-09-13 3:51 PM

CONDO SENSE

Preparing for a

// BY CAMERON MCNEILL

MORTGAGE RATE INCREASE

T

here has been a lot of news recently regarding mortgage rate increases. Fourteen months ago it was rumoured rates would start climbing, and even though the Bank of Canada recently decided to hold the key interest rate at one per cent, economists are still predicting the rate will likely rise within the next 18 months.

WHY DO MORTGAGE RATES CHANGE AND WHAT DOES IT MEAN FOR YOU?

Cameron McNeill is the owner of MAC Marketing Solutions, one of Alberta’s and B.C.’s leading real estate sales and marketing firms. Cameron also co-founded TAC Real Estate, a resale firm, and MPC Intelligence, a real estate market-research firm. Together with his experienced and dedicated team of sales, marketing and administration professionals, he has transacted more than 14,000 new homes and $5 billion in sales. Email him at cm@macmarketingsolutions.com or follow him on Twitter @mac_marketing

The Bank watches these indicators closely and sets the rate to maintain a stable economy.

Simply put, when a sluggish economy needs stimulus, rates are reduced to encourage borrowing.

Mortgage rates change as a reflection of changes to the key interest rate (or the amount of interest major financial institutions charge each other to borrow and lend money). The Bank of Canada sets the key interest rate approximately every six weeks by analyzing a variety of economic indicators. The Bank watches these indicators closely and sets the rate to maintain a stable economy. Simply put, when a sluggish economy needs stimulus, rates are reduced to encourage borrowing. Conversely, when an economy is showing signs of rapid growth, rates are increased to balance future inflation. Increases in the key interest rate, in turn, trigger increases to the mortgage rates offered by financial institutions. To learn more about historic interest rates trends, visit the Bank of Canada website at bankofcanada.ca.

As soon as you start to think about buying a condo, it’s time to get a really good grasp on what you can afford. Start the mortgage pre-approval process right away and ask your bank if a fi xed or variable mortgage rate would be better for you. Remember, when calculating the cost of a condo, you need to factor in your monthly mortgage payment, utilities, condo fees, property taxes and legal fees. Make sure you are not stretching your finances too far if you borrow the total the bank will pre-approve you for.

This will help protect you as interest rates eventually rise from their historic lows.

The sooner you get preapproved and the better you understand and plan your total home-ownership costs, events like mortgage rate increases will actually have very little effect on you over the course of the 25-year term of your mortgage.

44 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

SOUTHWEST

45

2

I love having an open kitchen where the whole family can gather on weekends. And with the bedrooms on a separate floor, there’s privacy too.

“

My

nd

Build your stories at Kintalla in Redstone, the best townhomes in the northeast. re pl ds a to za n n e e

redstone st

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Visit our sales centre at 150 Redstone Grove NE or call 587.353.9201

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*Based on a mortgage amount of $240,270.24 + GST with 5% down payment, 5 year term at 2.89% for 25 years with monthly payments. GST, Monthly Condo fees, Property Tax included. Price and renderings subject to change at developer discretion.

46 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

CONDO GUIDE

METIS TRAIL

NORTHEAST COMMUNITIES 05

SADDLETREE DR.

52 STREET

DE

TR A PI NA

05 C OVENTRY STATION

BY HUNTER RESIDENTIAL DEVELOPMENTS

03 09 80 Ave

13007 Coventry Hills Way NE www.coventrystation.ca

10

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET

12 AVENUE

4303 - 1st Street NE

IVE

36 STREET

09 T HE GARDENS OF SADDLESTONE

BY GENESIS BUILDERS GROUP

17 Ave

329 Saddlelake Dr. NE

10 I NDIGO SKY AT TARA LAKE

BY CARLISLE GROUP Sales Suite 68 Street & 80 Avenue NE

52 STREET

BLACKFOOT TRAIL

IVE ELBOW DR

08 H IGHLAND PARK

BY STONECROFT

02 4 3 PARK

BY VERICON REAL ESTATE VENTURES

11 K INTALLA

BY STREETSIDE DEVELOPEMENTS

43park.ca

MacLEOD TRAIL

150 Redstone Grove NE www.kintalla.com

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

12 A RRIVE @ REDSTONE

BY PARTNERS DEVELOPEMENT GROUP Coming Soon

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

IL

Mac TRA

U

MARQ

AIL

NE TR

LOR IS OF

COPPERFIELD

13007 Coventry Hills Way NE

IL

T

VIT McKE

D LEO

S JAME

TRA

EK P ARK

M

TTO BO

CRE

SHAWNESSY BLVD.

Skyview Ranch Rd & Skyview Ranch Dr

IAL DR

R MEMO

17 Ave

FISH

07 A RRIVE @ SKYVIEW RANCH

BY PARTNERS DEVELOPMENT GROUP

16 AVENUE

04 MEMO 02 01 RIAL D RIVE

GLENMORE RESERVOIR

6 Saddlelake Place NE

68 STREET

32 Ave

52 STREET

14 STREET

16 AVENUE

Coming Soon bridgelandcrossings.com

06 S AFFRON

BY GENESIS BUILDER’S GROUP

MCKNIGHT BLVD.

08

01 B RIDGE CROSSINGS

BY APEX CITY HOMES

06

64 Ave

84 STREET

CRI J OW OHN CH L ILD AUR IE TR BLV AIL D.

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

04 S TEPS BRIDGELAND

BY GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

ER

IL

CO

68 Street NE & 80 Avenue NE

07

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

03 I NDIGO SKY AT SADDLERIDGE

BY CARLISLE GROUP

STONEY TRAIL 12 11

$279,900 CHAPARRAL 2 bed, 2 bath includes GST, granite, hardwood and tile, ABURN BAY plus stainless appliances. CRANSTON Now selling FINAL PHASE! Units in final phase include upper deck, lower patio, walk out to the park and bonus room!

www.CoventryStation.ca

587-896-6107 newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 47

VIEW OUR MAGAZINES ON ANY

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10/7/2013 2:52:58 PM

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE

03

02

COCHRANE

07

3102-15 Sunset Square Cochrane, Alberta

11

09

1A

06 THE VILLAGE

BY CALBRIDGE HOMES

07 RIVERREACH VILLAS & MANORS

BY JAYMAN MASTERBUILT

10 12

06 04

2

05

13 Riviera Way Cochrane, Alberta

01

AIRDRIE STRATHMORE 09 CREEKSIDE VILLAGE 1 BY CARLISLE GROUP

1

CALGARY

15

CHESTERMERE

797 LANGDON

22X

22X

546

TURNER VALLEY

11 THE EDGE

BY STREETSIDE DEVELOPMENTS

604 East Lake Blvd N.E. Airdrie, Alberta

16

17

12 RAVENSWOOD TOWNHOMES

BY SLOKKER CANADA WEST

OKOTOKS

2802 Kings Heights Gate

2A

543

15 CHESTERMERE TOWNHOMES

BY SLOKKER CANADA WEST

22

#300 Marina Drive, Chestemere

HIGH RIVER

COCHRANE 01 RIVERSTONE AT COCHRANE

BY SLOKKER CANADA WEST INC. 240 Riverview Drive in Cochrane

04 SUNSET POINTE

BY CALBRIDGE HOMES

02 HEARTLAND TOWNHOMES

BY EXCEL HOMES

302 Sunset Pointe Cochrane, Alberta

1178 Clydesdale Way, Cochrane, Alberta

05 STONE CREEK LANDING

BY CARLISLE GROUP

03 CONCEPT

BY JAYMAN MODUS

103 - 5th Avenue, West, Cochrane, Alberta

201 Sunset Drive, Cochrane, Alberta

Excel_HL_Cochrane_TH_BannerAd_NHG_Oct0113.pdf

1

13-10-02

10 STONEKEEP AT KING’S HEIGHTS TOWNHOMES

BY MERGE DEVELOPMENTS 1225 King’s Heights Way SE Airdrie, Alberta

2

BLACK DIAMOND

22X

8th & MacKenzie Way Airdrie, Alberta

16 PENNCROSS

BY STREETSIDE DEVELOPMENTS LETHBRIDGE

127 & 129, 1 Crystal Green Lane, Okotoks, Alberta

17 MOUNTAINVIEW PLACE PHASE II

BY SPAN WEST CONSTRUCTION 408 - 1st Ave S.E. Black Diamond, Alberta

9:15 AM

C

M

Y

CM

MY

CY

CMY

K

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 51

Purchasing points

Shopping for your new condo developer

Choosing the development and suite is important, but what about the team who will make it all happen? // by lydia mcnutt

There are many advantages to

buying a new home. Starting with the obvious, everything is new! There are no scratches on the floors, no dings in the walls, no wear and tear, no signs of life before you. Buying new means you get your home, your way – you choose the floor plan, the finishes and features. And possibly most importantly, buying a brand new home offers yet another distinct advantage over resale – you choose the developer.

Before you dive head-first into your new condo purchase, remember that a little research goes a long way.

Selecting a location, development and suite design is important to your

lifestyle and the investment value of your purchase, but selecting the developer who will make it all happen is an equally important consideration.

Much like different restaurants specialize in different cuisines, one home developer may have distinct strengths and a different focus from another. It’s up to you to review what’s on their menu, so to speak, and figure out what kind of condo you crave. Some focus on sky-high towers, while others make their focus more intimate midrise and townhome communities. Some developers have an eco-friendly agenda, while others are all about the ultra-luxury features. Take note of what you want in a new home, and then do your research to determine what developers can deliver your wish-list.

Choosing the location, development and suite design is important to your lifestyle and the investment value of your purchase, but selecting the developer who will make it all happen is an equally important consideration

52 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

CONTINUED o n p a g e 5 4 . . .

#WYSIWYG

WHAT YOU SEE IS WHAT YOU GET. NEW SHOWHOMES NOW OPEN

Our spectacular new showhomes are now open in Airdrie. Tour your home before you decide to move in - what you see is exactly what you get! Our condos in Airdrie start as low as the $190’s, so take the tour today at 604 East Lake Blvd NE. Immediate possessions available. @StreetsideYYC #WYSIWYG

403.980.2817 condosinairdrie.com

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 53

Untitled-1 1

10/8/2013 9:09:28 AM

Purchasing points continued…

With so many new-home developers out there vying for your attention, how do you choose the right one?

Canada Mortgage and Housing Corp. offers some helpful tips:

›› To begin your search, check magazines (you already have the latest issue of New Condo Guide so you’re off to a great start!) and the Homes section of your local newspaper to find out which companies are building in the area you’re interested in, the types of homes offered and the prices you can expect to pay.

Look online, and check with the Canadian Home Builders’ Association – Alberta (chbaalberta.ca). Last but not least, ask people you know and trust for names of reputable developers they have dealt with, or visit a completed community and speak with a resident who’s already been through the purchasing process. Nothing beats first-hand knowledge. ›› Ask lots of questions. Find out how long the company has been in business, how many communities they build each year, and what kind of background and experience they have.

›› Make sure the developer belongs to an industry organization and has the licences and registrations required to operate in Alberta. Ask for references, and contact them to find out if the purchasers are satisfied with their homes and the service they received. ›› Once you have narrowed down your list, visit some showsuites. Go through each one in detail, carefully noting down what you like and what you don’t. Take your time, and if you feel you don’t know enough about construction to make an informed decision, bring someone with you who does. ›› Read through each developer’s website and other information materials to get a clearer picture of the company and what they have to offer. If possible, request a tour of a work site to see the team in action. ›› If you’re considering buying in a brand new development, take a tour of the community, or if it hasn’t yet stated to take shape, review the master plans. Is this is the type of community where you could see yourself living in for years to come? ›› Always bring a camera and take notes. Ask as many questions as you can think of, and write down the answers to review later.

A home is probably the biggest purchase you’ll make in your lifetime.

While it can be tempting to buy on a whim, look before you leap. After all, you’re choosing the place you and your family will call “home” for the next five, 10, or perhaps many more years. It pays to do a little homework to ensure you’re buying the right home from the right developer.

54 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

SK.BS.condoGuideOctOutlined.indd 1

13-10-03 11:55 AM

the ultimate

(aka your life in Mahogany)

12 Months of Awesome

5 models to choose from the Award winning

Karma

up to 1649 sq. ft.

esprit i, ii + iii up to 1347 sq. ft.

Serendipity ii up to 1324 sq. ft.

Jayman Modus is very pleased to offer you an incredible combination! A stunning new collection of townhomes set in the hottest lake community - Mahogany SE. •

2 & 3 bedroom townhomes (double master options available) Flex room and study room open concept with 9’ ceiling single, tandem & double heated garages available Extended cabinetry and oversized pantry 3 à la carte interior color selection palettes stainless steel appliances including self cleaning range, dishwasher, microwave washer & dryer RI air conditioning and gas BBQ

• • • •

From the low $300’s

• •

2 & 3 Bedroom Townhomes w/ Garage

• •

MARQUIS OF LORNE TR (HWY 22X)

MA 52 STREET SE

DEERFOOT TRAIL

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HO BL GA VD NY

MAHOGANY HEIGHTS

GATE MAHOGANY GA

MAHOGANY MANOR

MAHOGANY LAKE

MAHOGANY WAY

View Our ShOwSuite Showhome Hours: Mon-Thurs 2-8pm Sat/Sun 12-5pm

211 Mahogany Way SE jayman.com/ebony

56

Ebony Condo Guide October.indd 1

10/4/2013 5:12:21 PM

FA L RID C GE

MCKNIGHT BLVD.

EDMONTON TRAIL

14 STREET

CENTRE STREET

INTERNATIONAL AIRPORT

16 AVENUE 12 AVENUE

68 STREET

CRI J PARK OW OHN CH L ILD AURI E TRA BLV IL D.

32 Ave

16 AVENUE

RIVE RIAL D

MEMO

RIAL D RIVE

SOUTHEAST COMMUNITIES 36 STREET

MEMO

52 STREET

ELBOW DRI VE

1797 Copperfield Blvd SE

09

14

W BO

206 Cranford Drive SE

14 BOULEVARD TOWNES

BY BIRCHWOOD

NEW BRIGHTON

116 Quarry Park Way SE

M

TTO BO AIL

07 F UIS O

MARQ

AIL

VITT

D TR

McKE

LEO

Mac

S JAME

TR

EK P ARK

SHAWNESSY BLVD.

Coming to Mahogany

13 MOSAIC CRANSTON

BY BROOKFIELD HOMES

114 AVE SE

DEERF18 OOT T RAIL

CRE

12 EBONY

BY JAYMAN MODUS

84 STREET

52 STREET

BARLOW TRAIL

19

ANDERSON ROAD

02

01 CRANSTON RIDGE

BY CARDEL LIFESTYLES

Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/ cranston-ridge

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 AUBURN BAY

BY BROOKFIELD HOMES 174 Auburn Bay Blvd SE

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES

05 COPPERFIELD

13

285 Walden Drive SE aviurban.com

23

12

MAHOGANY

AUBURN BAY

CRANSTON

01

10

15 EDISON

BY AVI URBAN

02 11

16

IL E TRA LORN

CHAPARRAL

27 Auburn Bay Link SE

585 McKenzie Town Drive SE

GLENMORE TRAIL

SOUTHLAND DRIVE

FISH

10 MCKENZIE TOWNE ELGIN

BY BROOKFIELD HOMES 11 CHALETS IN COPPERFIELD

BY SABAL HOMES

MacLEOD TRAIL

GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

20 21

22

03 04 16 06 08

15 13

SETON BLVD.

16 AUBURN BAY

BY STONECROFT

Corner of Seton Blvd and Auburn Bay Link SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES 347 MacKenzie Towne Gate

18 THE GATES

BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE

05 MINT

BY JAYMAN MODUS

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

130 New Brighton Way SE thatsmint.ca/live

Quarry Park Blvd SE remingtoncorp.com

06 ZEN

BY AVALON MASTER BUILDER

20 CRANSTON PLACE CONDOS

BY CARDEL LIFESTYLES

82 Auburn Bay Link SE

07 PRESTWICK PLACE

BY CARDEL LIFESTYLES

302 Cranston Road SE

21 CRANSTON PLACE TOWNHOMES

BY CARDEL LIFESTYLES

115 Prestwick Villas SE

08 MUSKOKA

BY BROOKFIELD HOMES

302 Cranston Road SE

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI

27 Auburn Bay Link SE

09 BRISTOL TOWNHOMES

BY BIRCHWOOD NOW SELLING

13 Marine Dr SE

23 SYMMETRY AND HARMONY

BY STONECROFT

232 Quarry Park Blvd. SE

121 Copperpond Common SE

COPPERFIELD PARK II LOVE IT. LIVE IT. AFFORD IT.

CONDOS* FROM THE $120’S +GST Titled parking stall included.

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www.copperfieldpark.com 403.723.0094 newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 57

condo profile

Enjoy the “ultimate stay-cation” at

Jayman’s Ebony in Mahogany // By Heather Ryan

y

ou can enjoy the ultimate stay-cation from your new townhome or condominium in Jayman Modus’s new Ebony, that features a stunning array of home choices nestled in Mahogany – one of the hottest lake communities in the city.

“What makes Ebony so special is the location,” says project marketing specialist Sandi Serr. “Ebony in Mahogany has access to a stunning private lake, a clubhouse and acres of green space, a skating pond, hockey rink and dozens more amazing amenities, which is why we’re calling it the ‘ultimate stay-cation’.”

There’s plenty to do in Mahogany. Residents can spend the day at the beach swimming or boating, have a game of pick-up volleyball or basketball, or lace up their skates in the winter. There are also wetlands, parks and pathways to explore.

With Ebony, Jayman presents a collection of 128 stylish two- and three-bedroom townhomes with garages, thoughtfully designed to suit the various needs of today’s buyers. It will also encompass apartment-style condos that are expected to launch in the next three to four months.

“Each townhome in Ebony has been tailored to fit a different lifestyle,” Serr says. “From Karma’s awardwinning design with double garage and flex room, to

Esprit’s tandem garage and oversized kitchen, and the simplicity of the Serendipity and its extra cabinet space, single garage and flex room.”

The Ebony townhomes offer five floor plans including two from Jayman’s New Brighton project: the 1,649-sq.-ft. three-bedroom Karma with double garage; and Serendipity featuring two bedrooms and a single-car garage. It also offers three new plans: Esprit I with a tandem garage, second-floor study and two bedrooms; Esprit II with a tandem garage and two bedrooms; and Esprit III with a tandem garage and three bedrooms. The Esprit models range from 1,170 to 1,347 sq. ft. and all feature an over-sized kitchen with lots of cabinetry. The townhomes also present the option for a dual master.

Prices start from the low $300,000s plus GST and possessions are anticipated to start summer 2014.

All the townhomes offer half or full driveways, open-concept designs with nine-ft. ceilings, stainless steel appliances, washer and dryer, dual-pane low-E windows, full-height ceramic tile backsplash and pot lights in the kitchen, and a vinyl deck.

Jayman Modus offers three a-la-carte interior colour palettes and upgrades, so you can go sleek and contemporary, or warm and traditional and choose the

There’s plenty to do in Mahogany.

Residents can spend the day at the beach swimming or boating, have a game of pickup volleyball or basketball, or lace up their skates in the winter.

colours, baseboards, flooring and cabinetry to suit your tastes.

Residents will also appreciate Ebony’s beautiful courtyard with a water fountain, lighted pathways, a state-of-the-art gym, architectural detailing and the maintenance-free lifestyle.

“Jayman Modus builds and designs savvy townhomes to reflect the changing needs of each individual community,” Serr says.

“Not to mention that we have

aligned ourselves with Hopewell in Mahogany, which offers 12 months of awesomeness – natural amenities all year round in an urban paradise!”

Furthermore, since Ebony is in the early construction stage, Jayman Modus is able to offer customers a down-payment savings plan, meaning they can make monthly payments that contribute to their down payment while their home is being built.

“We specialize in first-time buyers and will take the customer step-by-step through the homebuying process making their transition a little easier and less stressful,” Serr says. “We have internal mortgage specialists (Jayman Financial) that will help them find the best interest rate/ monthly payment, and we have a moving van.”

Mahogany has a great location close to incredible shopping, dining and entertainment amenities just minutes away, as well as close proximity to the new South Calgary Health Campus and easy access to Highway 22X and Deerfoot Trail.

For more information, visit the Esprit showhome at 211 Mahogany Way S.E., open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. For more details visit jayman.com/ebony. newcondoguide.com | Volume 16 issue 11 | NEW Condo Guide 59

$263,900

Sales Centre: Corner of Centre St. NE & 41 Ave. NE

E BL ILA D A E AV AS NS ELE SIO W R S SE NO 3 OS 3 P ING 1 20 ILD U B

condo profile

Avi Urban

offers a smart collection of townhomes with

Edison at Walden // By Heather Ryan

a

smart collection of townhomes offering stylish, affordable designs and an appealing location within walking distance to neighbourhood conveniences is attracting buyers to Edison at Walden.

Avi Urban, the multi-family division of Homes by Avi, is crafting these south Calgary townhomes that are being well received by buyers who are looking for quality, space and value.

Edison is comprised of 157 three-storey townhomes with two or three bedrooms, double-car attached garages and a full driveway providing parking for three vehicles.

Construction is well underway with all basements completed and framing started on the first two buildings. More and more homeowners are choosing Edison, says Chris Pollen, sales and marketing manager for Avi Urban.

“Homeowners are loving modern interior finishings options, the location and that pre-construction pricing is still available starting from the $260,000s.”

62 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

The townhomes range from 1,130 to 1,400 sq. ft. and present six open-concept, modern designs that make maximum use of space and appeal to the differing tastes and lifestyles of today’s buyers.

Smart floor plans offer clever interiors that include features such as nine-ft. ceilings on the main floor, oversized windows, tile in the kitchen and bathrooms, and delicious kitchens highlighted by full-height glass mosaic tile backsplashes and extended-height custom cabinetry. Buyers will

Edison also offers environmentally friendly features such as high-efficiency furnace, low-E windows, a comprehensive home insulation system and Energy Starrated appliances appreciate that brilliant bathrooms come with rain shower heads, vessel sinks, glass mosaic tile backsplashes and showers with full-height tile and glass doors.

Homes also come with oversized private balconies, and buyers are able to personalize by choosing the colour of their front door from five selections.

Customizable options are also available with built-ins, so homeowners will have plenty of storage for all the stuff they didn’t even know they had!

Edison also offers environmentally friendly features such as high-efficiency furnace, low-E windows, a comprehensive home insulation system and Energy Star-rated appliances.

The townhomes present low-maintenance exterior finishes, James Hardie siding and an eclectic take on modern architecture for an aesthetically pleasing look. Further, residents will love having a fully landscaped central park at their doorstep – an Avi Urban signature in many of its developments.

“The variety of floor plans appeals to a broad range of homebuyers, from first-time homebuyers to those looking to move up from an apartment,” says Pollen. “Young and vibrant homeowners are choosing Edison because of the innovative design, unique architecture and incredible location.

“They’re also excited about the abundance of private outdoor living space that they’ll get with a balcony off their main living area and fenced at-grade patio, plus the lushly landscaped central park,” he says.

Buyers also love the walkability, he says, as Edison is just steps away from neighbourhood conveniences. They can stroll to a Starbucks, Shoppers Drug Mart, four restaurants and a pub at the Gates of Walden, and a Save-On-Foods grocery store is opening soon.

Residents can also enjoy Walden’s many pathways, parks and green space, and they have easy access to Hwy. 22X and Macleod Trail with all its amenities and the LRT at Somerset.

The Edison at Walden sales centre at 285 Walden Dr. S.E. is open Monday to Thursday, 2 to 8 p.m.; weekends and holidays, noon to 5 p.m., and Fridays by appointment. For more information, call 403.536.7236 or visitaviurban.com/edison.

Avi Urban is also crafting similar townhomes at The Post at Nolan Hill in northwest Calgary – an enclave of 59 three-storey townhomes with two-car attached garages and full driveways. For more information about The Post, visit the showhomes at 34 Evansview Rd. N.W. or the sales centre at 64 Nolan Hill Gate N.W., open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. Call 403.536.7290 or visit Aviurban.com/thepost.

newcondoguide.com | Volume 16 issue 11 | NEW Condo Guide 63

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G the BRINGIN TS of HOME FORd it most COM e that nee to thos ision World V through

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HOTEL NCE INDULGE

2013-09-05

indd 1

Cover-FIN.

01 Front

Brought to you by the publishers of

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The Mortgage Minute

// by peter kinch

The equity solution

How Canadians can cash in – without cashing out

Canadian homeowners are sitting on an unprecedented amount of home equity. Given today’s economic environment, the mere mention of spending home equity is considered taboo – especially in light of the recent subprime mortgage crisis in the United States. None of that, however, changes a few fundamental facts: 1. In spite of all the talk about debt, many Canadians are sitting on an

Peter Kinch is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action Plan. Visit peterkinch.com or email him at peter@peterkinch.com

Y

ou hear a lot of talk these days – from media and government – about debt and how the average Canadian has too much of it. Although it may well be true that many Canadians need to rein in their spending habits, there is a flip side that doesn’t get talked about enough. A record number of

“ Good debt” is any debt that is used to increase your net worth (a house, a rental property or other investment intended to make money)

unprecedented amount of home equity.

2. A large number of those Canadians sitting on their latent equity have two pressing concerns: a. Will I have enough money when I retire? b. How will my children ever be able to afford to buy their own house?

This scenario presents an interesting dilemma. The proverbial elephant in the room is home equity. Could it be a solution to the most pressing concerns of Canadians as they near their retirement years, or is it part of the problem?

The pendulum has swung quite a bit on this topic over the past five years. We’ve gone from the free-wheeling days leading up to 2008, where those investing in real estate thought they could do no wrong, to an aboutface, where spending home equity was akin to an evil deed. And, like most things in life, the truth lies somewhere in the middle.

First and foremost, we need to address some of the issues that face most Canadians today: › It is true that many Canadians are carrying too much debt and need

to find a way to spend less than they make.

› It is also true that many Canadians are sitting on an unprecedented

amount of home equity.

› Yet a record number of Canadians are also concerned about their ability

to have enough money to retire.

› Few working Canadians have faith in their pensions. › A record number of Canadians are now self-employed and have no

pension plan.

› Few working Canadians are confident in the ability for CPP and OAP

to take care of them when they retire.

› Canadians are living longer than ever.

Add this up and it begs the question: Can home equity be part of the solution?

The concept of using your home equity to invest has fallen out of vogue in the past few years, but in many respects, we have thrown the baby out continued on page 68…

66 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

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129 17

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The MorTgage MinuTe

conTinued…

with the bath water. Sure, the idea of spending your home equity to buy investments equates to getting further in debt – but perhaps we need to defi ne debt.

Is it possible to have good debt and bad debt?

Bad debt is easy to defi ne – any debt that is used to purchase an item that adds no value to your bottom line (lifestyle expenses such as a car, boat or vacation).

Good debt is any debt that is used to increase your net worth (a house, a rental property or other investment intended to make money).

When you use credit to subsidize lifestyle, you are simply spending beyond your means and arguably buying items that may not fit into your family budget.

The only return on this type of expenditure is immediate personal gratification. However, the potential long-term consequences of this type of expenditure could be increased debt without the ability to pay it off. Th is is exactly the type of debt the government is concerned about. They don’t want Canadians to look at their houses as personal ATMs – especially at a time when interest rates are at record lows.

The real concern is what would happen if a great number of Canadians were to access home equity, go further in debt at a time of low interest rates, only to see those rates increase. If the only thing those individuals had to show for their debt were depreciating consumer goods and a YouTube video of their last vacation, then the government’s concerns would be completely justified. In fact, you should be very cautious of increasing home or consumer debt in today’s economic environment. Interest rates have nowhere to go but up, and any use of home equity should only be undertaken after an analysis of both the long-term benefits and consequences.

However, this example should not be confused with the ability to utilize home equity to increase personal wealth, address pension concerns or assist adult children

with getting started on their road to home ownership.

The key is to analyze the long-term benefits versus potential consequences. It is entirely feasible to utilize home equity in such a way as to improve your personal fi nancial situation over the long-term, even if interest rates were to rise. Th is process would involve increasing personal debt initially but only through the acquisition of an asset that would create a long-term fi nancial benefit. An example of this would be to access a portion of your home equity for the down payment on the purchase of a rental property that, over time, would shift from a deficit to an asset that could provide a supplement to your pension plan.

Many people reading this might still say, “There is no way I’m touching my home equity.” I completely understand that emotion, but to that I would ask: Are you 100 per cent comfortable that your current pension plan is sufficient and that you will not have any need to supplement it at the point of retirement in order to live the lifestyle you desire?

If the answer is yes, then by all means, you should not, nor do you have to, touch your home equity. Your focus would be to stay the current course.

However, if the answer is no, then it begs another question: What is your plan to resolve this?

A significant number of Canadians fall into the second category and fit the following description: “I know that our current pension plan is insufficient to accomplish our retirement goals and I know that we are sitting on a lot of untapped equity that could be used to purchase some investments. But I’m simply not comfortable with risking any of that equity in an investment venture. What if we ended up losing it all?

Then where would we be?”

You would be shocked at how common this scenario is and how often that conversation is played out at dinner tables across this country.

There are three major considerations: 1. The need to address retirement goals 2. The realization that equity could be the solution 3. The fear attached to taking on more debt

As you explore your own personal situation, consider these factors, and how equity might be part of the solution.

68

SOUTHEAST

YEARS

69

ZEN CondoGuide 201310.indd 1

02-10-13 11:18

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71

In The News

Alberta maintains strong economic momentum: rbc Economics in memory will be enough to restrain Alberta’s economy in this year, according to the latest RBC Economics Provincial Outlook. In fact, post-flood spending will more than compensate for the drop in economic activity related to the natural disaster. RBC is upwardly revising its provincial real GDP growth rate to 3.2 per cent in 2013, up from the three per cent previously projected, due to the anticipated economic boost from postflood spending.

Alberta’s economic momentum may have faltered slightly during and immediately after the floods which displaced approximately 100,000 residents, resulting in production disruptions in the oil and manufacturing sectors, temporary shutdowns in the pipeline sector and a loss of tourism traffic, among other adverse economic consequences.

However, these restraining effects will prove to be temporary. The Alberta government recently estimated that the floods will add 0.2 percentage points to growth in 2013 and 0.4 percentage points in 2014.

“There is no doubt Alberta’s economy took a hit after the floods, however, the province has shown tremendous resiliency, and we expect the economy to spring forward for the remainder of 2013,” says Craig Wright, senior vice-president and chief economist, RBC. “Post-flood spending will more than make up for the short-lived economic challenges Alberta experienced at the beginning of the summer.” RBC says annual GDP statistics will

Not even the worst floods

72 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

fully capture the additional spending and work required by the reconstruction, repair and replacement that will take place, but will essentially ignore the destruction of or damage to property.

“Even without this perverse lift that the floods will provide to the provincial economy, Alberta continues to demonstrate substantial and sustained economic momentum,” says Wright.

RBC notes that as of this spring, crude oil production

Housing starts in the province were tracking more than nine per cent higher cumulatively by July, compared to the same period in 2012, and home resale activity remained on a sharp upswing maintained its record pace, and merchandise exports rose by 4.8 per cent in the first seven months of 2013 compared to the previous year. Employment was up by a solid 3.6 per cent year over year in August, and at 3.2 per cent in the second quarter, population growth was the strongest it has been since 1982.

Furthermore, retail sales rose by an impressive 6.5 per cent in the first half of the year.

Housing starts in the province were tracking more than nine per cent higher cumulatively by July, compared to the same period in 2012, and home resale activity remained on a sharp upswing. RBC says non-residential building construction was flat compared to last year, but levels continued to be historically strong.

“In addition to the boost from post-flood spending, we expect Alberta’s economy to benefit from stronger capital investment in oil sands now that earlier ‘bitumen bubble’ concerns have largely receded. We expect real GDP growth of 4.1 per cent in 2014,” says Wright.

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S T R E E T

T O W N S 75

quick tips

// by hellen buttigieg

Ease your autumn stress with a little

Time Management

lunches the night before and refrigerate. Assign an area in the fridge for school lunches and drinks. With smaller children, encourage independence by storing their foods low enough for the little ones to reach.

›› Involve the kids. You don’t have to do everything yourself. Teach your kids

Hellen Buttigieg is a certified professional organizer, life coach, TV host and owner of We Organize U. Visit her website, weorganizeu.com, for a free e-book on how to find more time, energy and inner peace. Email Hellen at info@weorganizeu.com

B

ack-to-school and back-towork season are in full swing, and that means more time in the kitchen preparing lunches and dinners, and less time for you to put your feet up or get other errands done. Here are some helpful tips to handle the stress of autumn.

›› What’s for dinner? Avoid the

stress and expense of last-minute dinner decisions with a little advance planning. Ask your family to list their favourite meals and create a revolving two-week dinner menu (with a grocery list to match). Post it on the fridge so whoever comes home first can start preparing it. Double the amount you make and freeze it for quick meals on the busiest nights.

›› School lunches made easy.

Designate one shelf in the pantry for school snacks only. Transfer foods to airtight containers – you’ll save space because they stack well, and the food will keep longer. Pack

how to do age-appropriate tasks and give them a weekly chore list. You will be helping them to develop important life skills. After you show them how to do each task, post a step-by-step checklist for them to follow when they do it on their own (use pictures for kids who are too young to read). This will allow them to work independently and gain confidence in their newly acquired skills.

›› Clean as you go. Handle small messes as they happen to save time and effort in the long run. Rinse dirty dishes and put them in the dishwasher immediately after use, before the food hardens and sticks. If something spills in the fridge, clean it as soon as you notice. If you stain an article of clothing, pre-treat it right away. Keep wipes handy for quick bathroom/kitchen spot-cleaning.

›› How’s your “to do” list working out for you? If you find your “to do”

list overwhelming and ineffective, consider approaching it differently. Rather than one long list, create several short ones based on the category of the task, i.e. errands, home, calls, computer, etc. Keep your lists together in a small notebook that’s portable and always easily accessible.

›› Multi-tasking reduces productivity. Contrary to popular belief, multi-

tasking may actually lower productivity. Switching back and forth from one task to another costs time and leads to frustration and feelings of overwhelm.

As a result, stress increases and there is a greater chance of error. Although simple tasks can be done at the same time, like watching TV and folding laundry, important, complex activities require our undivided attention.

›› Exercise decision making. Having trouble making decisions? Putting off

decisions is actually a decision – a decision not to do anything! Most of us avoid decisions out of fear of making a mistake or upsetting someone. There is an element of risk in making a decision to act, but by not taking action, we can miss opportunities for positive change in our lives. The next time you are faced with a decision, instead of imagining the worst possible outcome, imagine what could go right and how your life would improve as a result. Some guidelines I use when making decisions are “trust your gut” and “if it’s not an absolute yes, then it’s a no.”

›› Stand up for yourself. You can’t please all people all the time, so aim to

at least please yourself. It’s incredibly freeing once you consciously decide that everybody doesn’t have to like you. You’ll be able to say “no” to things you don’t want to do, and as a result, you’ll find more time for activities and relationships that nurture you and bring you joy.

76 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

SOUTHEAST

YEARS

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 77

ZEN GH CondoGuide 201310.indd 1

01-10-13 11:51

homebuyers’ help

Condo hunter’s checklist When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where! condo #1

condo #2

condo #3

condo #4

Project & address:

Project & address:

Project & address:

Project & address:

Salesperson:

Salesperson:

Salesperson:

Salesperson:

Phone:

Phone:

Phone:

Phone:

Developer/builder:

Developer/builder:

Developer/builder:

Developer/builder:

Type:

Type:

Type:

Type:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

Sq. Footage:

Sq. Footage:

Sq. Footage:

Sq. Footage:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

Interior appliances:

Interior appliances:

Interior appliances:

Interior appliances:

Options:

Options:

Options:

Options:

Parking facilities:

Parking facilities:

Parking facilities:

Parking facilities:

Special incentives:

Special incentives:

Special incentives:

Special incentives:

Price:

Price:

Price:

Price:

Down payment:

Down payment:

Down payment:

Down payment:

Condo fees:

Condo fees:

Condo fees:

Condo fees:

Financing available:

Financing available:

Financing available:

Financing available:

Other comments:

Other comments:

Other comments:

Other comments:

78 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

homebuyers’ help

Condo Buyers’ Resource Section You love the condo, see what you can afford!

Compare mortgage rates for your best deal Calculate your mortgage payments using the mortgage payment calculation chart

79

homebuyers’ help

you loVe the conDo, see WHAT you CAn AFFord!

Interest rates

calculate Your MortGaGe PaYMents

aMortIZatIon PerIods

% 10 Years

15 Years

20 Years

25 Years

30 Years

5.00%

10.58

7.88

6.57

5.82

5.34

5.25%

10.70

8.01

6.74

5.96

5.49

5.50%

10.82

8.14

6.85

6.10

5.64

5.75%

10.94

8.27

6.98

6.25

5.79

6.00%

11.07

8.40

7.12

6.40

5.95

6.25%

11.19

8.53

7.26

6.55

6.11

6.50%

11.31

8.66

7.41

6.70

6.26

6.75%

11.43

8.80

7.55

6.85

6.42

7.00%

11.56

8.93

7.69

7.00

6.59

7.25%

11.68

9.07

7.84

7.16

6.75

7.50%

11.81

9.21

7.99

7.32

6.91

7.75%

11.94

9.34

8.14

7.47

7.08

8.00%

12.06

9.48

8.28

7.63

7.25

8.25%

12.19

9.62

8.44

7.79

7.42

MonthlY Pre-taX IncoMe

sPouse’s Pre-taX IncoMe

total Pre-taX IncoMe

dIvIde BY three

affordaBle MonthlY PaYMents

aMount of MortGaGe (PrIce-down PaYMent)

chart fIGure

aMount of MortGaGe dIvIded BY 1,000

aMortIZatIon aMount

aMortIZatIon aMount

estIMated MonthlY taXes and heat

MonthlY PaYMents

FoLLoW THese sTePs To see IF you’LL QuALIFy For A MorTGAGe on your DreAm conDo

01

Calculate the combined monthly before-tax income of you and your spouse.

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

02

Divide by three. This figure is the monthly payment you can afford to make on your condo.

06

Add to this your estimated monthly heating costs and monthly property taxes.

03

07

Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

04

Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice.

(Most first-time buyers take the 25-year amortization.)

05

If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

Bear in mind that this is a rough estimate.

If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies.

The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

80 NEW CONDO GUIDE | VOLUME 16 ISSUE 11 | newcondoguide.com

compAre mortGAGe rAtes For your BesT deAL varIaBle

ATB Financial

2.700

Bank of Montreal Bank of Nova Scotia

6 Months

1 Year

2 Years

3 Years

4 Years

5 Years

2.890

3.190

3.590

3.840

3.950

4.740

5.340

3.990

4.390

4.990

3.950

4.590

5.340

3.950

4.540

5.340

3.140

3.950

4.540

5.340

2.890

3.190

3.390

3.790

4.000

2.940

3.000

4.000

3.140

3.140

3.100

4.550

3.750

3.890

CIBC Mortgages

3.000

4.450

3.090

3.140

Canadian Western Bank

3.200

4.000

3.140

3.140

Canadian Western Trust

3.200

4.000

3.140

First Calgary Financial

-

4.000

2.890

First National Financial

2.600

3.950

2.990

2.790

3.090

3.390

3.790

HSBC Bank Canada

3.100

4.450

3.600

3.950

4.450

4.990

5.340

ING Direct

3.000

-

3.190

3.240

3.590

3.690

4.090

Investors Group Trust

3.000

4.200

3.140

3.140

3.950

4.690

5.340

Laurentian Bank Canada

3.200

4.400

3.140

3.190

3.950

4.740

5.340

London Life

3.000

4.200

3.140

3.140

3.950

4.690

5.340

Manulife Bank

3.000

4.450

3.000

3.250

3.400

3.500

3.790

Manulife Trust

-

4.450

3.000

3.250

3.400

3.500

3.790

National Bank

3.100

4.400

3.140

3.140

3.950

4.740

5.340

Peace Hills Trust

-

4.500

3.150

3.500

3.950

3.950

4.150

President’s Choice Fin’l

3.000

6.040

3.240

3.240

3.590

3.690

4.090

Royal Bank of Canada

3.000

4.000

3.140

3.140

3.950

4.740

5.340

Servus Credit Union

-

4.000

3.140

3.140

3.750

4.540

5.340

Steinbach Credit Union

-

-

2.600

2.800

3.000

3.150

3.350

T-D Mortgage

3.000

4.000

3.090

3.140

3.650

4.540

5.340

Your Neighbourhood C.U.

-

-

3.400

3.500

3.600

3.690

3.590

This information is current as of october 4, 2013 and is subject to change without notice.

mortGAGe options you can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs.

All mortgages are of two basic types:

conVentionAl

open mortGAGe

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less.

Buyer has to pay 25 per cent down.

A conventional mortgage cannot exceed 75 per cent of the value of the property.

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty.

Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

insureD or hiGh-rAtio Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less.

The down payment can be as low as five per cent.

closeD mortGAGe This usually has the lowest interest rate available but lacks the flexible features of other mortgage options. It’s a good

choice for those who want the security of knowing their monthly payment is fixed for a longer term. Prepayment options are available but they are subject to conditions.

portAble mortGAGe Offers flexibility if borrowers move.

Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home.

This is an attractive option if the rate on the existing mortgage is lower than current rates.

newcondoguide.com | VOLUME 16 ISSUE 11 | NEW CONDO GUIDE 81

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82 NEW Condo Guide | Volume 16 issue 11 | newcondoguide.com

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2013-10-09 3:34 PM