Calgary Condo Talk

[Spring2008]

A thread to discuss new proposals, renders, sales launches, rumours, and new market trends all in one place.


Thought this was interesting. Speaks to the growing and maturing inner city condo market here:
New Calgary Condo Website Poised to Change Real Estate Web Skyline

The announcement of new company website, specializing in Calgary downtown condos.


Calgary, Canada, March 21, 2014 --(PR.com)-- A new and unique real estate website has been launched to cater specifically to the Downtown Calgary condo market. User-friendly, easy to navigate, and simplicity sum up its format and delivery.

Calgaryurbanliving.ca has been created for the modern city dweller that demands specialized and accessible real estate information when they want it, where they want it.

The fast-changing downtown Calgary condo market of tomorrow will require increasingly rapid responses to the specific customer needs and wants. This specialized website model aims to provide the consumer with a higher level of transparency as it relates to the industry.

Realtor and creator of the website, Karim Hassam is excited to begin this new project in order to better assist Calgarians looking to buy or sell their condo.

Hassam belongs to CIR Realty, Calgary’s largest real estate brokerage, which recently won the prestigious award of being named Most Innovative Brokerage by the leading real estate companies in the world. CIR Realty’s use of technology and superior customer service has enabled them to close more transactions last year than any other brokerage in the city.

His dedication to continued education has enabled Hassam to obtain several designations and training in the real estate and related fields.

Walking into 2014, the biggest trend in consumer needs is niche segmentation, according to several influential sources. BusinessWeek called it 'The Vanishing Mass Market', Wired Magazine spoke of the ‘Lost Boys and the Long Tail’, while Trend Watching talks about ‘Niche Mania’.

In light of this, Hassam said,“I want to equip the Calgary real estate buyers and sellers with the most relevant information relating to the specific market they are interested in.”

Hassam understands that in addition to information, speed and convenience is key to meeting the needs of today’s fast-paced real estate consumer and has incorporated this principle in his business.

“This is just how we work, when somebody contacts us we immediately follow up,” said Hassam. “We have teamed up real estate-specific lawyers, mortgage brokers, home inspectors and stagers. Depending on the individual’s need, our clients are connected right away with one of our service providers.”

Home buying and selling can be a complicated process, and having online expertise accessible in a simplified way will ease the process. The structure and formatting of the site is organized keeping the end user in mind.

The detailed community pages work like a personal online tour guide for each specific neighbourhood. It gives the viewer a comprehensive look at the lifestyle, market information, transportation options, and acts as an information source for other community-specific knowledge.

Buyers scanning for homes can take advantage of the most current list of properties available or they have the option to create their own custom search.

The sellers section of the website will provide home owners with personalized information on their Calgary home values.

For more information please visit contact Karim at khassam@cirrealty.ca.
http://www.pr.com/press-release/548433

[Spring2008]

Say goodbye to Lido Cafe, and hello to Lido 2.0

Always cherished and cheap, Lido Café closing after seven decades

By Mike Morrison Share this Article

Over the next couple of weeks, you’ll hear lots of people waxing-nostalgic about the Lido Cafe.

That’s because, after more than 70 years, the small diner along 10th St. NW will be closing its doors at the end of April to make room for a new condo development. To run a business that long in Calgary is truly remarkable.

Before Stampede Wrestling, there was the Lido Cafe. Before the population of the city was even 100,000 people, there was the Lido Cafe. The fact that the diner has survived the threat of franchises, food trends and the onslaught of foodies equipped with Instagram, is truly remarkable.

If you’ve never been, some of the diner’s most popular dishes are the Chinese combo special ($8.95), the burger ($4.25), the breakfast special ($6.38) and the chocolate shake ($4.95). If those prices seem incredibly low to you, that’s because you’re probably not used to seeing affordable food.

Calgary’s recent surge in cool and trendy restaurants has left many people like me, who love to eat, but don’t want to be poor because of it, without very many options.

Of course it’s good to eat organic, locally grown and whatever deconstructed food is, but sometimes, I just don’t want to.

Instead, I want to pay $7.95 for a meal that I can split in two and have the rest for lunch the next day. I want a place that I can afford and not feel guilty about the next day. I’ve always thought it was strange to regularly spend a lot of money on food, because not matter how much you spend, you still wake up hungry the next day.

The most expensive dish on Lido Cafe’s menu? The sirloin Steak, which for $14.95 comes with fries, vegetables, soup, a roll and dessert. For an extra $3.75, you can throw in a cold beer.

While I’m incredibly sad for the loss of the Lido Cafe, I’m excited for what another condo development means for the area that I’ve called home for the past six years. Fans of the neighbourhood will be happy to know that the new condo development will adopt both Lido’s name and the historic sign that has hung above 10th St. for decades.

For an area like Kensington to thrive and survive, it needs to welcome new condos. With people all moved into Pixel and St John’s Tenth Street ready to open any day, the Lido building will bring even more people to one of the city’s oldest neighbourhoods. With more people comes more business, something that’s already reflected in the handful of new urban-friendly businesses that have opened up in the area, including a spin studio, a poutinerie, a cheese shop and a rollerblade store.

On the Lido Cafe’s final weekend, a special art show featuring the work of Melanie Aikenhead, will highlight the history of the Lido Cafe.

And, a few days later, the Lido Cafe will close its doors forever. So that means we have a month to say thanks. Thanks for the unforgettable atmosphere, the expansive and sometimes odd menu, but most importantly thanks for working hard to make sure that I, and thousands of other Calgarians, always had a delicious and affordable place to eat.
http://metronews.ca/voices/in-defence-of/978883/always-cherished-and-cheap-lido-cafe-closing-after-seven-decades/

[Wigs]

Say goodbye to Lido Cafe, and hello to Lido 2.0


http://metronews.ca/voices/in-defence-of/978883/always-cherished-and-cheap-lido-cafe-closing-after-seven-decades/

everyone I know says the food at Lido sucks. I haven't been there but that's a reason for the low prices :haha:
what do you forumers that been to Lido Cafe think?
the sign is worth saving though!

[Spring2008]

^I've never eaten there, but it is part of living in a quickly growing city. The improvements are run down, and located along a prime commercial strip. Land values make it almost impossible not to maximize the FAR by keeping those run down shops open, and it's not like these are quality historic buildings by any means.

Bucci will be demolishing that ugly carpenters union building next to make for their next project, while it looks like Sturgess is planning something for the Osteria Di Medici site. I say keep them coming.

[Spring2008]

Let's keep delaying issuing permits. :tup:


Real estate a very hot commodity in Calgary
Buyers need to act fast in Calgary's hot market

Many people in Calgary looking to buy homes and condos are learning they need to buy fast or be left behind. Lea Williams-Doherty reports.

Michael Franklin, CTV Calgary
Published Friday, March 21, 2014 7:42AM MDT

The condo market is heating up in the City of Calgary and buyers are learning quickly they need to act fast to buy what they want.

Brenna Hebert has been looking for a condo for a long time and has just conditionally bought one in a downtown complex.

Hebert hopes the deal closes because she missed out on several others.

Realtors say that while the market in Calgary hasn't reached the frenzy it has in 2005 or 2007, they're seeing a lot of the signs that show we could be headed for another boom.

“When I started, I was taking my time and looking around,” she says. “Then those properties would go quickly so I ended up having to change my strategy in this market right now.”

The Calgary Real Estate Board says that buyers looking to break into the market by purchasing starter homes for less than $400,000 are having a hard time.

“So we started to see last year really that demand was far greater than the new supply we were seeing come online,” says Ann-Marie Lure, economist with CREB. “It really depleted the inventory on the resale market.”

Pedro Villamar, Herbert’s real estate agent, says the market in Calgary is very hot, and every neighbourhood and price bracket is feeling the crunch.

“Right now, we’re seeing about a 20 percent decrease in the average days a home is on the market, we’re seeing about a 12 percent increase in sales, and an 18.5 percent decrease in active listings.”

He says the market has been building steam for more than a year and while it hasn’t reached the boom levels of 2005 or 2007, it could hit that point sometime.

“We’re seeing things we haven’t seen since the last boom,” Villamar says. “Multiple offers, homes going in one day, homes going over price by thousands of dollars.”

He adds that inner city properties are the most sought after, with vacant lots being at the top the list.

The hottest neighbourhood is Altadore, with a vacant spot listed for almost $1.4M when, two years ago, it would have gone for $1.2M.

Read more: http://calgary.ctvnews.ca/real-estate-a-very-hot-commodity-in-calgary-1.1739531#ixzz2wioyVoOu

[milomilo]

everyone I know says the food at Lido sucks. I haven't been there but that's a reason for the low prices :haha:
what do you forumers that been to Lido Cafe think?
the sign is worth saving though!

The food does suck and it's grimy as hell but it's good for a hangover breakfast and the crappiness is part of the charm I guess! I'm happy to see the name live on though.

[sim]

I think the food is just fine at Lido. It seems to be, like other businesses here with similar price points / value offering , suffering from the Veblen effect - that is to say, the food isn't good merely because the price isn't high enough.

[Spring2008]

Color rendering of Smith. Looks to be in VIP sales now.
http://i2.wp.com/immrfabulous.com/wp-content/uploads/2014/03/BeltLine_Aerial_Final-Smith-Condo-Calgary.jpg?resize=612%2C821

Well now the developer, London based Grosvenor, is about to deliver DRAKE’s brother SMITH into Calgary… AND they’re giving FAB readers the first chance to view suites and purchase units before opening to the general public!!!

BeltLine_Aerial_Final Smith Condo Calgary

SMITH will have some pretty swanky standard features in all of their units, including a gas range, in floor bathroom heating, sleek integrated dishwashers, and a choice of 3 spectacular finishes. The building will also house a full time concierge, and an exciting bike sharing program.

Last week I popped in early to get a sneak peek of the show suite and was so impressed, I jumped at the chance and purchased there too!

SMITH is slated to break ground later this year; it’s a perfect time to get pre-construction prices and first dibs on the unit that fits you the best!

So whether you’re considering your first home, or interested in future investments, this is the perfect opportunity to get to know SMITH.
SMITH condo Calgary

If you’re interested in visiting before it opens to the public just call or email Natalie or Colleen. One of them will arrange an appointment so you can come and take the first look!
http://immrfabulous.com/

[red_179]

I'm really excited for Park Point, I love the location and Qualex is a reliable builder. In all likelihood, I'll probably be buying into it.

[Spring2008]

I'm really excited for Park Point, I love the location and Qualex is a reliable builder. In all likelihood, I'll probably be buying into it.

I'm looking into buying pre-construction at PP, Mount Royal West, Smith, or Bucci's new project along 10st in Kensington if the price is right.

[Jimby]

I'm surprised that Smith is offering gas ranges. Do other condos have that?

[Spring2008]

^Not sure, appears more high end in terms of ammenities than most.

Nothing special, but District looks to be starting soon. Will help to get 17th ave east going.

https://scontent-b-sea.xx.fbcdn.net/hphotos-frc1/t1.0-9/p526x296/1969148_595478657210164_1570755314_n.jpg

https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-prn2/t1.0-9/s600x600/1459220_600547070036656_1719567366_n.png
https://www.facebook.com/pages/District/477236759034355

[Tropics]

The improvements are run down, and located along a prime commercial strip. Land values make it almost impossible not to maximize the FAR by keeping those run down shops open, and it's not like these are quality historic buildings by any means.

I ate at the Lido once, it was typical cheap café grub. Bacon and eggs, fairly average burgers and fries with bulk gravy, ect... There used to be heaps of little restaurants like it, there are few left.

I agree with the buildings not having historical relevance enough to call for their preservation, but you need to be careful when redeveloping in an area like Kensington. Those little eclectic single story brick buildings with quirky art shops, skateboard stores, used record shops, non-chain coffee houses, comic book stores, art house theater, bead store for making cheap jewelry, ect... Those are what "made" Kensington what it is today, and that is slowly being eroded away and pushed out of the area.

You might not mind the changes, you might like what that area becomes, but it will no longer be the "Kensington" of old that initially made that area of the city such an interesting place to window shop and spend an afternoon. It was special because it was different and because it's cheap little single story buildings allowed for cheap little cool stores to exist along that walk. It will all eventually be replaced by Starbucks, Original Joes, Bernard Callebaut, Wok Box, and sterile 4 story condo complexes with ground floor retail full of the usual stuff you can see in any given area of the city.

I see the same thing just starting to happen in Inglewood along 9th ave as well. We are slowly losing all of the antique shops, we will likely eventually lose Recordland, we will see large restaurant/pub chains move in and they will start to force all of the cool unique aspects of that area out.

Cool areas of the city like Kensington definitely deserve some redevelopment and to capitalize on their popularity, but be very careful that attempting to do so does not destroy most of what you are trying to capitalize on...

[DizzyEdge]

:previous: and unlike much older cities around North America, once these areas fully gentrify, there's not necessarily any other areas for those shops to move to.

[Spring2008]

Idk Kensington's been gentrifying for awhile. The new places I've noticed open over the past year or so- poutine shop, cup cake shop, frozen yogurt place, spin studio, beer hall, Korean fried chicken etc are all very funky, well designed local shops with better offerings overall than what they replaced. I have a hard time believing building multi-story retail/condo on top of a few very under-utilized lots along the strip is going to diminish the neighbourhood. I do agree it has to be done right, and hopefully the right tenants are selected in each case. I find most of the local shops in the inner city better than the chain versions.

[Full Mountain]

Color rendering of Smith. Looks to be in VIP sales now.
http://i2.wp.com/immrfabulous.com/wp-content/uploads/2014/03/BeltLine_Aerial_Final-Smith-Condo-Calgary.jpg?resize=612%2C821
http://immrfabulous.com/

Hopefully they don't pull a Montana and switch from brick to stucco part way up....

[MasterG]

Idk Kensington's been gentrifying for awhile. The new places I've noticed open over the past year or so- poutine shop, cup cake shop, frozen yogurt place, spin studio, beer hall, Korean fried chicken etc are all very funky, well designed local shops with better offerings overall than what they replaced. I have a hard time believing building multi-story retail/condo on top of a few very under-utilized lots along the strip is going to diminish the neighbourhood. I do agree it has to be done right, and hopefully the right tenants are selected in each case. I find most of the local shops in the inner city better than the chain versions.

Agreed, even our best retail streets are riddled with underutilized buildings and parking lots. As they are quickly being replaced with the construction of new retail space this can only be a good thing for the neighbourhood. The increasingly large numbers of brand-new spaces will help improve the resiliency of retail high-streets by offering more space and more diversity in an area.

Even if Kensington becomes more bland from a retail perspective, those funky shops don't disappear. They gradually migrate to a new corridors that better support their businesses. Bridgeland, Edmonton Trail, 19th Street to name a few ideas. The uses and retail on a street should never be a fixed mixture, it is always a process of growth, decline or change. 17th ave will continue to be heavy in bars and restaurants, but the smaller shops are now migrating to cross streets just off of 17th and along 16th Ave and elsewhere. It is part of the natural evolution of a street.

[Spring2008]

Hopefully they don't pull a Montana and switch from brick to stucco part way up....

I think the dark brown portion above podium level will be stucco by the looks of it. Still a decent filler imo.

[Full Mountain]

I think the dark brown portion above podium level will be stucco by the looks of it. Still a decent filler imo.

As long as they stick with non-primary colors we're good, the lego orange brick/stucco on a few developments from the last boom and the mustard and ketchup ones from this one are making me wonder if we need to require developers to submit proof of a colour blindness test with all DP's


Edit: 1,500th post, better get back to work now...

[Boris2k7]

The DP states that the materials above grade are alternating EIFS (synthetic stucco) and curtain wall glazing.

[Full Mountain]

The DP states that the materials above grade are alternating EIFS (synthetic stucco) and curtain wall glazing.

To bad, was hoping for at least some brick on the podium

[Boris2k7]

To bad, was hoping for at least some brick on the podium

Oh, sorry, I should clarify. In the DP they are using "above grade" to refer to the area above the podium. The podium is dark brick and white EIFS.

I guess I should put this question to you guys. Anyone experienced problems with EIFS with regards to cracks or moisture? I'm a prospective buyer and that kind of information may influence my decision to purchase.

[Spring2008]

As long as they stick with non-primary colors we're good, the lego orange brick/stucco on a few developments from the last boom and the mustard and ketchup ones from this one are making me wonder if we need to require developers to submit proof of a colour blindness test with all DP's


Edit: 1,500th post, better get back to work now...

Makes me wonder if some developers get discounts on odd coloured material, similar to the ugly coloured/styled clothing that's almost always on the sales racks. Not much else can explain it.

[Full Mountain]

Oh, sorry, I should clarify. In the DP they are using "above grade" to refer to the area above the podium. The podium is dark brick and white EIFS.

I guess I should put this question to you guys. Anyone experienced problems with EIFS with regards to cracks or moisture? I'm a prospective buyer and that kind of information may influence my decision to purchase.

Ah! That's good to hear.

I'm not 100% sold on the whole EIFS thing, seems like it might come back to bite some buildings in 5-10 years. Really depends on the manufacturer and the installer though.

[Full Mountain]

Makes me wonder if some developers get discounts on odd coloured material, similar to the ugly coloured/styled clothing that's almost always on the sales racks. Not much else can explain it.

That's an interesting thought, are we getting discount bin architecture? :rolleyes:

[kw5150]

I dont think the issue will be that black and while, though I do see your concern and share it. New bohemian areas will constantly evolve and relocate just as long as the city does not steam roll all of them........There has to be gradual re-development or yes, certain areas will get the charm sucked out of them. That said, many chain stores open in the inner city and close right away and make room for new small businesses.......so the effect can go both ways.

I ate at the Lido once, it was typical cheap café grub. Bacon and eggs, fairly average burgers and fries with bulk gravy, ect... There used to be heaps of little restaurants like it, there are few left.

I agree with the buildings not having historical relevance enough to call for their preservation, but you need to be careful when redeveloping in an area like Kensington. Those little eclectic single story brick buildings with quirky art shops, skateboard stores, used record shops, non-chain coffee houses, comic book stores, art house theater, bead store for making cheap jewelry, ect... Those are what "made" Kensington what it is today, and that is slowly being eroded away and pushed out of the area.

You might not mind the changes, you might like what that area becomes, but it will no longer be the "Kensington" of old that initially made that area of the city such an interesting place to window shop and spend an afternoon. It was special because it was different and because it's cheap little single story buildings allowed for cheap little cool stores to exist along that walk. It will all eventually be replaced by Starbucks, Original Joes, Bernard Callebaut, Wok Box, and sterile 4 story condo complexes with ground floor retail full of the usual stuff you can see in any given area of the city.

I see the same thing just starting to happen in Inglewood along 9th ave as well. We are slowly losing all of the antique shops, we will likely eventually lose Recordland, we will see large restaurant/pub chains move in and they will start to force all of the cool unique aspects of that area out.

Cool areas of the city like Kensington definitely deserve some redevelopment and to capitalize on their popularity, but be very careful that attempting to do so does not destroy most of what you are trying to capitalize on...

[Spring2008]

That's an interesting thought, are we getting discount bin architecture? :rolleyes:

It's real bad when developers charge top dollar then cheap out with discount bin materials!

Are the WAM towers on 10th ave to be rentals? There's orange construction signange up at site(ledcor the gc), and site prep looks to be happening. Never thought we'd see this many rental projects at once.

[red_179]

It's real bad when developers charge top dollar then cheap out with discount bin materials!

Are the WAM towers on 10th ave to be rentals? There's orange construction signange up at site(ledcor the gc), and site prep looks to be happening. Never thought we'd see this many rental projects at once.

It would be great to see this progress quickly. Anyone know where they are at with their permits?

[H.E.Pennypacker]

It's real bad when developers charge top dollar then cheap out with discount bin materials!

Are the WAM towers on 10th ave to be rentals? There's orange construction signange up at site(ledcor the gc), and site prep looks to be happening. Never thought we'd see this many rental projects at once.

Wait they're doing site prep at the WAM site??

[mersar]

Wait they're doing site prep at the WAM site??

They've been doing some clean. Theres probably some work they can do under the previous development permit but not too much yet. I haven't seen a new application for the site yet either.

[H.E.Pennypacker]

Ah fair enough, sounds similar to what has gone on at Karma .. Hope this means they intend to start construction as soon as the permits are release :)

[Spring2008]

Yeah, looks a lot like the Karma site. If these are rental, we could see a couple cranes up here real soon.

[Spring2008]

Get ready for ground breaking...in 2018!

The #condo #king @BradJLamb speaking about our latest venture #theorchard in #calgary @FortressRDI @FDSBroker pic.twitter.com/MmVXBNi2QK

https://twitter.com/juliebarnard_/status/448611196552216576/photo/1

[Jimby]

Mark only has 10 units left for sale. 264 units sold.

[Spring2008]

Mark only has 10 units left for sale. 264 units sold.

They better open their Park Point presentation centre soon. Believe it's going to be opening on 11th ave around 6th street sw

[Full Mountain]

They better open their Park Point presentation centre soon. Believe it's going to be opening on 11th ave around 6th street sw

Back where the Calla one was?

[mersar]

Back where the Calla one was?

Yep, same space as the Calla one was. Signage is all up there for it. Don't think it will be long before it opens.

[Spring2008]

Oh yeah, forgot they had their Calla sales centre there too. I hope they build the underground for both towers at once even if they phase it. Might even be a chance they launch and build both at once.

[Amsterdamned]

Oh, sorry, I should clarify. In the DP they are using "above grade" to refer to the area above the podium. The podium is dark brick and white EIFS.

I guess I should put this question to you guys. Anyone experienced problems with EIFS with regards to cracks or moisture? I'm a prospective buyer and that kind of information may influence my decision to purchase.

There's nothing wrong with EIFS so long as the contractor installing it does a quality job just like any other trade. The bricky's can screw up a job almost as easily as the EIFS contractors. I've seen it happen. It all depends on how the substrate is protected. Did they use a rainscreen system or didn't they? How does the moisture escape the system? Were the windows sealed properly? All good questions to ask when purchasing though the sales people probably won't have a clue what you're talking about. The windows are often the weak spots leading to water penetration. That said, standards and quality has gotten better. You'd be hard pressed to find a new building without some EIFS on it. It all depends on how much you want to pay for your property or suite. The more masonry and glazing the higher the cost.

[Boris2k7]

There's nothing wrong with EIFS so long as the contractor installing it does a quality job just like any other trade. The bricky's can screw up a job almost as easily as the EIFS contractors. I've seen it happen. It all depends on how the substrate is protected. Did they use a rainscreen system or didn't they? How does the moisture escape the system? Were the windows sealed properly? All good questions to ask when purchasing though the sales people probably won't have a clue what you're talking about. The windows are often the weak spots leading to water penetration. That said, standards and quality has gotten better. You'd be hard pressed to find a new building without some EIFS on it. It all depends on how much you want to pay for your property or suite. The more masonry and glazing the higher the cost.

These are excellent questions. Thanks!

[Spring2008]

Just in time for April Fools!

Brad J Lamb ‏@BradJLamb · 13h
Heading to #Calgary this morning. We're getting ready to build 6th and Tenth and meeting about future developments… #RealEstate
https://twitter.com/BradJLamb

[Spring2008]

Courtesy of the LUD/DP/BP Wizard! :P A bit more height coming to the 17th ave area. Any renderings yet?

As per the DP that has been submitted (DP2014-0909), The official height and floors for the tower portion of this project are:

36 floors, and 114.96M | 377.2FT

[H.E.Pennypacker]

Courtesy of the LUD/DP/BP Wizard! :P A bit more height coming to the 17th ave area. Any renderings yet?

Wait is this the Mount Royal Village West development we're talking about? 36 stories?

[Spring2008]

Wait is this the Mount Royal Village West development we're talking about? 36 stories?

Whoops yeah, that's the one.:cheers:

[H.E.Pennypacker]

Whoops yeah, that's the one.:cheers:

:cheers: Wowza, that's going to be a game changer in that area that's so tall!

If the DP's been submitted a rendering shouldn't be too far behind I hope :)

[MasterG]

:cheers: Wowza, that's going to be a game changer in that area that's so tall!

If the DP's been submitted a rendering shouldn't be too far behind I hope :)

That corridor just north of 17th is going to be quite dense in the Central Beltline with all development (Drake, Smith, Mount Royal, Bentall rental on 16th and 12th etc.) Hopefully that will drive the completion of some of the shabbier parts of 17th (11th street - 14th)

[RyLucky]

That corridor just north of 17th is going to be quite dense in the Central Beltline with all development (Drake, Smith, Mount Royal, Bentall rental on 16th and 12th etc.) Hopefully that will drive the completion of some of the shabbier parts of 17th (11th street - 14th)

I kind of like how there are lowrises on 17th and highrises one block north: the retail street has an airy sunny feel, and folks get a little peace and quiet a block away from all the action. And yes, hopefully more pedestrians in the area translates to better land usage on 17th ave at 10th-12th St.

On another note, I'm starting to like how the new building at 4th St and 17th is turning out. I had hoped for something taller and more iconic, but from a human perspective it does the job of making the area feel more urban and welcoming. The most important floor in any building is the main floor.

[Spring2008]

Yeah, the amount of new residential product being delivered and in the works on both sides of 17th will def keep boosting the strip. This year it seems like 5th to 4th street sw is getting a big boost with that new wine place, Brazilian bbq resto, and Anju coming along with the new ~15k of retail in the new development on 4th street. Now somebody please do something with the building that Twisted Kilt is in, that involves a bulldozer and a quick rebuild. Also like to see BMO on 7th street get the same treatment. Both underutilized parcels. Lots of work to do still.

[H.E.Pennypacker]

Yeah, the amount of new residential product being delivered and in the works on both sides of 17th will def keep boosting the strip. This year it seems like 5th to 4th street sw is getting a big boost with that new wine place, Brazilian bbq resto, and Anju coming along with the new ~15k of retail in the new development on 4th street. Now somebody please do something with the building that Twisted Kilt is in, that involves a bulldozer and a quick rebuild. Also like to see BMO on 7th street get the same treatment. Both underutilized parcels. Lots of work to do still.

Yes please .. Preferably something set back far from the street with a wide sidewalk to make it more pedestrian friendly and help join 4th with 17th more fluently

A low rise mixed use development would be okay there with me

[Spring2008]

Got word that the WAM on tenth towers are targeting Q2 2016 for first occupancies, so should start soon. Knew a Q2 2016 start date didn't sound right.

[*Stardust*]

Got word that the WAM on tenth towers are targeting Q2 2016 for first occupancies, so should start soon. Knew a Q2 2016 start date didn't sound right.

So with it starting so soon, I'm assuming these are rentals?

[Spring2008]

So with it starting so soon, I'm assuming these are rentals?

Thinking rentals, not sure though. One tower could be condo, other rentals.

[waichuntull]

Any updates about "6th and Tenth"?

[*Stardust*]

Any updates about "6th and Tenth"?

I've heard they are starting sometime in May...take that with a grain of salt though

[waichuntull]

Delay Again.
Wonder how will the pre-approved mortgage be affected? Does the buyer will have to re apply again?

[Spring2008]

Two years on the market with near record sales volume and demand greatly outpacing supply, a few things def went wrong here. Not sure it's worth even talking about anymore until we see the sales centre gone and pile drivers at the site.

[MalcolmTucker]

So as of today I am in the market for a new to me condo. If anyone hears of, or wants to unload a reasonably prices 2 bedroom 1-1.5 bath with in-suite laundry let me know!

[Tropics]

So as of today I am in the market for a new to me condo. If anyone hears of, or wants to unload a reasonably prices 2 bedroom 1-1.5 bath with in-suite laundry let me know!

What is your price range and area of the city you are looking at?

Would 2+2 work or do you not want the master ensuite?

[waichuntull]

6th and Tenth:
Was told that the developer asks buyers to sign an amendment to the sales and purchase agreement for 2 dates change, one from June 30, 2015 to June 30, 2016 and the other from June 30, 2015 to June 30, 2017.

[waichuntull]

Have buyers of 3 Eau Claire received their deposit back?

[Spring2008]

Starts are up 66% year-over year too for multi-fam.


Condo apartment sales up 28% year over year

Growth due to available inventory and affordability

Condo Sales Sales in the Calgary condo apartment sector jumped 28% this quarter over last quarter. Condo inventory should also get better later this year as new construction projects are completed.

Condo apartments saw the strongest year over year sales gain in the first quarter of 2014 due to available inventory and affordability, says a report from the Calgary Real Estate Board (CREB).

Sales in the apartment sector reached 1,062 after the first quarter, a 28% increase over the first quarter of 2013. New listings after the first quarter totalled 1,722, up 18% year over year and even though demand out-paced listing growth, inventory levels are similar to the previous year, said Ann-Marie Lurie, CREB’s chief economist. “Single-family sales at the end of the first quarter totalled 3,901 units, a 9.5% increase over the same period last year,” said Lurie.

“Meanwhile, the amount of new listings declined by nearly 5%. As sales growth outpaced the amount of new listings growth in the market, inventory levels dropped to just over 2,000 units.”

That equals almost a two-month supply of single-family homes on the MLS system, putting Calgary firmly into a sellers market.

Affordability and selection are driving buyers into apartment condominiums and townhomes, said CREB president Bill Kirk.

“The unadjusted single-family benchmark price totalled $490,600 in March, a 9.9% increase over the previous year and a monthly increase of 1.6%,” said Kirk.

“Condominium apartment and townhouse prices totalled a respective $287,200 and $313,100. The condominium apartment price recorded a year-over-year increase of 11.5%, the highest relative to the townhouse and single-family sector.

Despite strong price gains across all sectors, overall the condominium sector continues to record price levels below peak records.

“Nearly 50% of new listings in the apartment sector are priced in the range of $200,000 to $299,999, providing options for those looking for affordable product. However, there are far fewer options for those looking to spend less than $200,000. After the first quarter, apartment product priced below $200,000 has dropped from over 16% of the market last year to 6.4%.”

The condominium inventory situation should get better this year as new product comes on stream, said Lurie.

“Some easing of the supply pressure in the condominium market is expected as new construction projects are completed,” she said. “However, thanks to Calgary’s strong economy, it is expected that most new supply can be absorbed without risk of over-supply and condominium price correction.”

[Spring2008]

6th and Tenth:
Was told that the developer asks buyers to sign an amendment to the sales and purchase agreement for 2 dates change, one from June 30, 2015 to June 30, 2016 and the other from June 30, 2015 to June 30, 2017.

Sounds about right, should take close to three years to complete if they start in June, which is a big if.

Wouldn't sweat it cause here's a list of other res towers that will likely start this year in the Beltline:

-Smith
-Wam on 10th
-Guardian South
-Karma
-Royal View East
-Union Square 2

Bosa Tower at Mt Royal Village and Park Point maybe towards the end of the year. Plus some commercial towers.

[floobie]

Hmmm. This thread exists. If I may, I'd like to do some brain-picking. If this is more "new condo development talk" and less "give me advice talk", maybe I'll start a new thread. Or some moderator can step in and do it for me.

Fair warning: I tend to babble a lot when asking for advice.

My girlfriend and I are sort of itching for our own place now. I've lived in the same house for my entire near 27 years of existence. Time to level up my adulthood a bit.

We've both been torturing ourselves looking through mls.ca and the like for a few years now, and we're finally entering a position, largely thanks to each other, to actually buy a place. And, we've both kind of narrowed in on a "benchmark" tower of sorts: Colors.

I love the floor plans. The square-footage isn't massive, but they prioritize what I want. Their "one bedroom plus den" plans are awesome. I've never seen the point of a big bedroom, so I'll happily use a den for that purpose. We're both fairly creative types (she's an illustrator, I enjoy music and photography) and want room for a sizeable desk for each of us. She needs desk space for big sheets of paper, I need space for a few guitars and a synthesizer. As far as I can tell, we could fit both of our desks and associated "stuff" in the actual bedroom. Also, the fact that I can quite literally see the building from my office is a huge plus.

We toured a few of the presentation centres for new developments over the last few weeks. And, while we saw some stuff we liked, we didn't really find much. The common themes were: Too long to move in, the suitable units in our price range are gone, and putting down a deposit that we could well lose isn't too appealing.

So, anything else we should be looking at? We'd prefer to make the move in late summer. 650-750 square feet with the right layout (ie. 1 bedroom plus den or a smaller 2 bedroom) would be ideal. One stall in a secured parking garage. Hard ceiling of $400k. We've certainly identified a few older buildings that check all of these boxes, but the condo fees seem to be considerably higher in everything I saw.

Another point I'd like to hear some thoughts on: My friend is renting a unit in Vantage Pointe right now, and, well, it seems to live up to its "Pointe" reputation. He's on the 13th floor and sleeping with ear plugs. It's been pretty noisy when I've been up there, both from outside, and from the hallway. People in various states of inebriation, trains, cars, sirens... all rather audible. I would certainly hope that higher quality developments don't suffer such problems to that extent. My experiences with sleeping in downtown Calgary are limited, but I've never had a problem with it in Vancouver.

Also, I'll take literally any other advice you can throw my way. I don't exactly take the decision of where I'm going to be living for the next 5-10 years, and where a good chunk of my money during that period will be going very lightly.

[lorenavedon]

Another point I'd like to hear some thoughts on: My friend is renting a unit in Vantage Pointe right now, and, well, it seems to live up to its "Pointe" reputation. He's on the 13th floor and sleeping with ear plugs. It's been pretty noisy when I've been up there, both from outside, and from the hallway. People in various states of inebriation, trains, cars, sirens... all rather audible. I would certainly hope that higher quality developments don't suffer such problems to that extent. My experiences with sleeping in downtown Calgary are limited, but I've never had a problem with it in Vancouver.


Noise and neighbor annoyances will happen in any new development where the majority of units are rentals. For example, I would never buy a unit in Guardian 2 to live in. Why? Because %99 of the units sold in that building will end up being rentals purchased by overseas investors, uncared for, unkempt and with people not giving a crap about living in a "community". Owners of rentals or "investors" will never vote for repairs, special assessments and increase in condo fees. So your building will massively deteriorate over time, the "investor" will flip his unit and you'll be left living in a derelict building. By then, instead of being hit with small repairs, you'll be on the hook for something massive. Your best bet for a good place to call home is in a place with a low rental to owner ratio.

[Jimby]

Noise and neighbor annoyances will happen in any new development where the majority of units are rentals. For example, I would never buy a unit in Guardian 2 to live in. Why? Because %99 of the units sold in that building will end up being rentals purchased by overseas investors, uncared for, unkempt and with people not giving a crap about living in a "community". Owners of rentals or "investors" will never vote for repairs, special assessments and increase in condo fees. So your building will massively deteriorate over time, the "investor" will flip his unit and you'll be left living in a derelict building. By then, instead of being hit with small repairs, you'll be on the hook for something massive. Your best bet for a good place to call home is in a place with a low rental to owner ratio.

I really don't think that overseas investors are a force in the Calgary condo market. Investor-owners who don't live in their investment perhaps, but not overseas.
All condos except brand new ones have to have a 5 year Reserve Fund Study in place formulated by an accredited professional engineering firm and the Board is obligated by Alberta law to follow the recommendations of the RFS.
If a Board was found to be deliberately ignoring the maintenance, repairs, and financial contributions mandated by the RFS, they could be removed from office by the owners through an extraordinary general meeting.
My experience is that non resident investor owners are not willing to participate and even if they do, they can't do much to stop the RFS once it has been put in place.

In my building, renters are held to a higher standard than owners. The renters below me got a $1,500 fine for smoking pot and their landlord also received the same fine from the Condo Corp. Board so of course the landlord evicted his tenants so he wouldn't be put in that situation again.
There are mechanisms available to the Board through their condo by-laws to fine rule breakers.
Also resident owners can be more passive/aggressive and entitled and non-cooperative than any investor owner.
You can't say that all resident owners are wonderful people and all renters and investors are not so wonderful people.

[red_179]

We've both been torturing ourselves looking through mls.ca and the like for a few years now, and we're finally entering a position, largely thanks to each other, to actually buy a place. And, we've both kind of narrowed in on a "benchmark" tower of sorts: Colors.

We toured a few of the presentation centres for new developments over the last few weeks. And, while we saw some stuff we liked, we didn't really find much. The common themes were: Too long to move in, the suitable units in our price range are gone, and putting down a deposit that we could well lose isn't too appealing.

So, anything else we should be looking at? We'd prefer to make the move in late summer. 650-750 square feet with the right layout (ie. 1 bedroom plus den or a smaller 2 bedroom) would be ideal. One stall in a secured parking garage. Hard ceiling of $400k. We've certainly identified a few older buildings that check all of these boxes, but the condo fees seem to be considerably higher in everything I saw.


If Colours is your benchmark, I've heard really good things about Keynote which is a similar option. I personally like the quality of the Qualex Landmark developments (Stella, Luna, Nova, and Calla) which are other ones that could meet your criteria.

It is pretty standard to see higher condo fees in older buildings, as more upkeep is required over the years. You have to be very vigilant in reviewing the finances and state of repair of the building for older developments, but often you can get more bang for your buck if you do your research.

[Boris2k7]

I really don't think that overseas investors are a force in the Calgary condo market. Investor-owners who don't live in their investment perhaps, but not overseas.

They exist but their influence is exaggerated.

If Colours is your benchmark, I've heard really good things about Keynote which is a similar option. I personally like the quality of the Qualex Landmark developments (Stella, Luna, Nova, and Calla) which are other ones that could meet your criteria.

Keynote is mostly okay, but they messed up a bit on the finer details. Lots of units were issued countertop humidifiers months after possession because of concerns over damage to the hardwood floors from the dry air.

[count0]

Hmmm. This thread exists. If I may, I'd like to do some brain-picking. If this is more "new condo development talk" and less "give me advice talk", maybe I'll start a new thread. Or some moderator can step in and do it for me.

Fair warning: I tend to babble a lot when asking for advice.

My girlfriend and I are sort of itching for our own place now. I've lived in the same house for my entire near 27 years of existence. Time to level up my adulthood a bit.

We've both been torturing ourselves looking through mls.ca and the like for a few years now, and we're finally entering a position, largely thanks to each other, to actually buy a place. And, we've both kind of narrowed in on a "benchmark" tower of sorts: Colors.

I love the floor plans. The square-footage isn't massive, but they prioritize what I want. Their "one bedroom plus den" plans are awesome. I've never seen the point of a big bedroom, so I'll happily use a den for that purpose. We're both fairly creative types (she's an illustrator, I enjoy music and photography) and want room for a sizeable desk for each of us. She needs desk space for big sheets of paper, I need space for a few guitars and a synthesizer. As far as I can tell, we could fit both of our desks and associated "stuff" in the actual bedroom. Also, the fact that I can quite literally see the building from my office is a huge plus.

We toured a few of the presentation centres for new developments over the last few weeks. And, while we saw some stuff we liked, we didn't really find much. The common themes were: Too long to move in, the suitable units in our price range are gone, and putting down a deposit that we could well lose isn't too appealing.

So, anything else we should be looking at? We'd prefer to make the move in late summer. 650-750 square feet with the right layout (ie. 1 bedroom plus den or a smaller 2 bedroom) would be ideal. One stall in a secured parking garage. Hard ceiling of $400k. We've certainly identified a few older buildings that check all of these boxes, but the condo fees seem to be considerably higher in everything I saw.

Another point I'd like to hear some thoughts on: My friend is renting a unit in Vantage Pointe right now, and, well, it seems to live up to its "Pointe" reputation. He's on the 13th floor and sleeping with ear plugs. It's been pretty noisy when I've been up there, both from outside, and from the hallway. People in various states of inebriation, trains, cars, sirens... all rather audible. I would certainly hope that higher quality developments don't suffer such problems to that extent. My experiences with sleeping in downtown Calgary are limited, but I've never had a problem with it in Vancouver.

Also, I'll take literally any other advice you can throw my way. I don't exactly take the decision of where I'm going to be living for the next 5-10 years, and where a good chunk of my money during that period will be going very lightly.

I have friends who live in Colors, they like it there a lot. Chocolate is also a comparable, it's like a mini Colors. Same developer, similar features, very close location wise. You might also consider one of the lofts, as it may be possible to pick one up for around 400k.

A note on condo fees. In newer buildings, Condo fees are artificially low. You can almost expect 20%+ increases in condo fees ever year for the first 5 years of the buildings life. Budget for at least double the condo fees you are paying initially.

[lorenavedon]

some of the listings in Colors right now are asking well over $600/sqft for a building with zero amenities and mediocre finishing built during the boom. Some people are on some seriously good crack right now

[Spring2008]

Marda Loop/Bankview the new hotspot:


https://pbs.twimg.com/media/Bke8kowCMAASctQ.jpg
https://twitter.com/ian_meredith

[Spring2008]

Might be the start of a new trend:

Multi-family starts balloon in Calgary area

New construction up 212% from a year ago

By Mario Toneguzzi, Calgary Herald April 8, 2014 11:47 AM


Multi-family starts balloon in Calgary area

Housing starts in the Calgary region soared in March thanks to strong new construction in the multi-family market.
Photograph by: Gavin Young , Calgary Herald

CALGARY - An exceptionally strong month for new multi-family construction pushed overall housing starts in the Calgary region up by 87 per cent in March compared with last year.

Canada Mortgage and Housing Corp. reported Tuesday that total starts in the Calgary census metropolitan area rose to 1,667 units during the month from 890 in March 2013.

The multi-family sector saw starts rise by a whopping 212 per cent to 1,217 units from 390 a year ago but the single-detached sector saw a decline of 10 per cent to 450 units from 500 last year.

The CMHC said housing starts in the Calgary CMA were trending at 16,647 units in March compared with 14,978 in February. The trend is a six month moving average of the monthly seasonally-adjusted annual rates of total housing starts.

“We had a strong number of multi-family units break ground last month,” said Richard Cho, senior market analyst in Calgary for CMHC. “This was mainly due to the pronounced number of apartments that started construction, reaching its second highest level on record in March. Apartment inventories have come down, while demand for housing remains robust. This has contributed to the increase in new construction activity.

“Multi-family units have attracted a number of different buyers. With (rental) vacancy rates relatively low, many investors have looked to purchase multi-family units as investment properties. Multi-family units have also appealed to first-time homebuyers as these homes tend to have a lower price compared to a single-detached home.”

Robert Kavcic, senior economist with BMO Capital Markets, said Canadian housing starts unexpectedly fell sharply to 156,823 annualized units from 190,639 the month before.

“The steep decline in housing starts in March was at least partly weather related, but the bigger picture is an ongoing cooling of residential construction activity in Canada,” he said.

It was the second-lowest monthly reading for starts since the recession with January 2013 a touch lower, he added.

“Underperformance of the Canadian economy relative to the U.S and the likely gradual increase in interest rates through 2015 will take some of the momentum out of the demand for Canadian housing,” said Connor McDonald, economist with TD Economics. “We suspect that the pace of housing starts will gradually trek downward to the 165,000-175,000 unit range over the next two years.”

mtoneguzzi@calgaryherald.com
http://www.calgaryherald.com/business/Multi+family+starts+balloon+Calgary+area/9713723/story.html

[Policy Wonk]

Here is a question, roughly when did ethernet wiring become fairly standard in condo construction?

Some friends of mine have been renting in a Y2K vintage building without it, they consider the fact their landlord recently tried to sell them their unit a sign that their lease probably isn't going to be renewed and they consider a unit not having it a deal breaker because the last two places they have lived both had severe wifi congestion.

And yes, they tried a 5Ghz router.

[floobie]

Thanks to everyone who responded to my incoherent rambling with coherent advice!

Chocolate: I'd heard that this building was having a few more problems than Colors. Any comments?

Renter/owner ratio: Definitely something I'll be accounting for. But, in terms of noise, am I correct in assuming that higher quality (and/or newer?) developments will have better sound proofing?

Condo fees: I'm certainly expecting them to rise if I buy into a newer building. But, is there anything I can look for to indicate that they might have stabilized? Colors has been around for, what, 5 years now? Should I expect the fees to keep going up for like the next 10/15 years?

I'm also trying to get a feel for the general state of the market. Right now, supply seems to be quite limited. I'm seeing listings come and go pretty quickly. Everyone is saying it's a seller's market right now. I'm guessing exercising a bit of patience would benefit me? Though, demand for condos, while on the rise (as other posts have suggested), still seems to be below that of detached homes. So, I'm kind of wondering if waiting too long might end up biting me in the ass... or should I really be waiting for the next recession if I really care?

I'm sure my insane inexperience is showing. Educate me!

[lorenavedon]

Thanks to everyone who responded to my incoherent rambling with coherent advice!

Chocolate: I'd heard that this building was having a few more problems than Colors. Any comments?

Renter/owner ratio: Definitely something I'll be accounting for. But, in terms of noise, am I correct in assuming that higher quality (and/or newer?) developments will have better sound proofing?

Condo fees: I'm certainly expecting them to rise if I buy into a newer building. But, is there anything I can look for to indicate that they might have stabilized? Colors has been around for, what, 5 years now? Should I expect the fees to keep going up for like the next 10/15 years?

I'm also trying to get a feel for the general state of the market. Right now, supply seems to be quite limited. I'm seeing listings come and go pretty quickly. Everyone is saying it's a seller's market right now. I'm guessing exercising a bit of patience would benefit me? Though, demand for condos, while on the rise (as other posts have suggested), still seems to be below that of detached homes. So, I'm kind of wondering if waiting too long might end up biting me in the ass... or should I really be waiting for the next recession if I really care?

I'm sure my insane inexperience is showing. Educate me!

most old condos are condo conversions. Back in the day, condos were for poor people and middle class or wealthy lived in houses and thought the downtowns were for criminals and drug addicts. So most buildings are condo conversions. This is bad because originally, rental buildings have horrid sound proofing. Walls are paper thin. So sure, they buy up old rentals, renovate them, they look awesome, but it's gonna be hell with all the sounds and stuff that goes with an old building built for low income people.

Newer condos are like 10000x better in terms of soundproofing because modern rich urban yuppies demand that when they're paying 500k for an 800sqft box. So stick to the new stuff IMO. Of course, exceptions to every rule. There are good old buildings. Its just rare.

Also, condo fees will go up forever. Can't get around entropy. A home or condo is a depreciating asset like a car. The only thing of value is the space it's sitting on.

[sync]

thought the downtowns were for criminals and drug addicts.

haha you'd be surprised there are plenty of people who still think this is the case.

my wife works with a 27 year old female who, upon finding out that we live "downtown" asked her in all seriousness, "why, do you like getting drunk every night?"

my wife lacks my gift for sarcasm but i would have answered in the affirmative and added that we save the crack use for the weekends.

[floobie]

most old condos are condo conversions. Back in the day, condos were for poor people and middle class or wealthy lived in houses and thought the downtowns were for criminals and drug addicts. So most buildings are condo conversions. This is bad because originally, rental buildings have horrid sound proofing. Walls are paper thin. So sure, they buy up old rentals, renovate them, they look awesome, but it's gonna be hell with all the sounds and stuff that goes with an old building built for low income people.

Newer condos are like 10000x better in terms of soundproofing because modern rich urban yuppies demand that when they're paying 500k for an 800sqft box. So stick to the new stuff IMO. Of course, exceptions to every rule. There are good old buildings. Its just rare.

Also, condo fees will go up forever. Can't get around entropy. A home or condo is a depreciating asset like a car. The only thing of value is the space it's sitting on.

Huh, that explains a few listings I saw. Gorgeous units, ugly old building with a fancy, modern name/logo, and fairly cheap. The newer the better, then.

As for condo fees: I realize they'll always be going up, but there's a difference between going up at a rate of $200/year or $20/year.

[MalcolmTucker]

Yeah, buildings drag things down, but there are some old units with concrete between the units such as Rocky Mountain Court. The state of unrenovated units are shameful compared to my old Boardwalk rental however. The long hallways also really show the construction deficiencies of trying to level floors before laser levels (while keeping them affordable).

Old buildings too a lot can't accommodate laundry except for european ventless types.

[Spring2008]

This should help keep the amount of new condo construction going at a strong pace:


Grosvenor ranks Toronto, Vancouver and Calgary the world’s top cities for long-term real estate investment
Republish Reprint

Pamela Heaven | April 9, 2014 | Last Updated: Apr 9 3:16 PM ET
More from Pamela Heaven | @pamheaven
Toronto, Vancouver and Calgary were ranked the most resilient cities in the world.

Toronto, Vancouver and Calgary are the world’s top cities for long-term real estate investment, a report by Grosvenor’s research said this week.
North America’s top 20 housing markets

Vancouver, Toronto, Calgary among most expensive on continent. Find out more

Grosvernor, an international property development company based in the U.K., ranks 50 of the world’s cities on their resilience, measured by their vulnerability and how well they can cope with adverse events.

“The investment of city leaders in infrastructure and its commitment to upgrading it over the decades has put Toronto at the top of Grosvenor’s list of the world’s most resilient cities,” said Richard Barkham, Grosvenor’s Group research director. “For investors in property and real estate, it makes Canada a very sound long-term investment.”
Related

More Canadian real estate being scooped up by foreign investors
What’s next for REITs in 2014?

The Canadian trio beat out all cities in the United States, with Chicago ranking fourth on the list.

The five least resilient cities were Dhaka, Jakarta, Cairo, Manila and Mumbai.

The centuries-old property company, whose study is being released at the Urban Land Institute’s Spring Meeting in Vancouver this week, takes a long view of real estate, not a quick return on investment.

“Investors with a long-term perspective, such as pension funds or sovereign wealth funds can deploy capital in these cities and be confident that if they take a knock they will bounce back in a relatively short term,” Barkman said of the study that was three years in the making. “These cities are safe havens in a rapidly changing global environment.”

The report said Canadian cities fared well as they are generally well governed, well planned and have good access to resources, including water and energy.

U.S. cities did not score particularly well in vulnerability categories, the report said, because social tension in some cities brought on by inequality, lack of investment in utilities and over-consumption of land due to urban sprawl.
http://business.financialpost.com/2014/04/09/grosvenor-ranks-toronto-vancouver-and-calgary-most-resilient/?__lsa=71f9-bccc

[Spring2008]

This too:

Four Canadian cities to present opportunities for foreign property buyers Add to ...

TARA PERKINS - REAL ESTATE REPORTER

The Globe and Mail

Published Thursday, Apr. 10 2014, 5:00 AM EDT

Four Canadian cities are increasingly punching above their weight on the global stage, and are poised to attract more capital from foreign real estate investors, Jones Lang LaSalle says in a new report.


“A marked shift in international interest in Canadian cities will occur over the next five years,” its report predicts, singling out Toronto, Vancouver, Montreal and Calgary.

The notion of a new wave of investment in commercial properties is troubling to some Canadian real estate players who are concerned that valuations here are already lofty, and that an asset bubble could form if investors continue to bid up the price of properties.

The 10-year annualized total return from Canadian commercial real estate is 11.9 per cent, second only to South Africa, according to Investment Property Databank Ltd.

Those stellar returns have spurred investors to continue to pour money into the market, but so far most of that has come from Canadians.

As Jones Lang LaSalle points out, Canada has one of the lowest proportions of foreign capital invested in its real estate market in the world. The market is dominated by local pension funds, insurers and real estate investment trusts. Those Canadian players have had plenty of funds to invest, and have chosen to increase the proportion of their investment portfolios that is dedicated to real estate because of the strong returns. Their knowledge of the local markets has given them an edge over foreign players when it comes to winning key assets.

“This should not be interpreted as a lack of demand by foreign investors, many of whom remain keenly interested in the Canadian market, but merely a lack of success in transacting,” JLL says. “Compared to other countries with similar property markets and transparency attributes, such as Australia, Canada stands out as being one that foreign groups find particularly difficult to penetrate. For example, while inbound investment in Australia has regularly exceeded 30 per cent of total investment, only 10 per cent on average of all transactions in Canada since 2007 have involved foreign groups, with 2012 marking a low point of only one per cent.”

But Canadian real estate players have now begun turning their sights abroad, looking for new markets to grow in as Canadian properties have become more and more expensive. And many local players are worried that the market is near its peak.

JLL’s positive outlook for the four Canadian cities is based on a number of factors, including growing infrastructure spending, new efforts to bolster tourism by the Canadian Tourism Commission and strong urban strategies.

“We anticipate that over the next decade the ‘Quartet’ cities will firmly secure their places on the world stage with all four cities regularly featuring among the world’s top 30 real estate investment destinations,” the report says.

http://www.theglobeandmail.com/report-on-business/industry-news/property-report/four-canadian-cities-to-present-opportunities-for-foreign-property-buyers/article17906511/

[Spring2008]

Haven't seen this posted yet? Another one for SW

http://i.cbc.ca/1.2604883.1397090145!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/currie-barracks-mixed-use.jpg


Currie Barracks redevelopment plans are being redrawn to be much more dense.

The federal agency overseeing the redevelopment of the former military base originally planned for 7,000 people to live in the mixed-use community.

Now the Canada Lands Company (CLC) envisions that 11,000 people will call the area home.

CLC's Doug Cassidy says it's a recognition the City of Calgary wants to boost densities and that inner-city land is highly valued.

Development still on the mind of Calgary's new council
Naheed Nenshi promises to tackle 'sprawl subsidy'

CLC will ask the city later this year to approve rezoning for the area.

“We've looked at increasing the density within the community from about 3,200 units to about 5,600 units, and with that have looked to really amplify the amount of open space and park space within the community to really support a wonderful liveable, walkable community," said Cassidy.
Increased density

Currie Barracks could soon look quite different to people passing by on Crowchild Trail.

Historic military buildings will stay, but Currie Barracks will transform into a high-density mixed-use community.
Currie Barracks residential

Right now about 7,000 people live in Currie Barracks. The Canada Land Company is planning for the area to have 11,000 people living there within the next five to 10 years. (Canada Land Company)

“What has happened is that we're able to infuse more and different uses in a more concentrated form of development that allows people to stay off the highways in Calgary — live, work, learn, play exactly where they might be,” said Rob Robinson, who is with the design firm working with CLC.

The area's city councillor, Brian Pincott, says he likes the new plan.

“The whole high-street concept, I think, is going to be a great addition too, not only for that development but for the area. when you look right across the street, you've got Mount Royal right across the street.”

Canada Lands wants to build a new interchange on Flanders Ave., crossing over Crowchild Trail.

The project is estimated to cost $28 million. Because the city doesn't have the funds to start the project soon, CLC will design and build the new interchange on its own. It will put up the first $20 million for the project and the city will repay later.

The interchange will open in 2017, about the same time as the first multi-family units and retail parts of the redevelopment enter use.

http://www.cbc.ca/news/canada/calgary/currie-barracks-updated-denser-redevelopment-plan-unveiled-1.2604861

[H.E.Pennypacker]

Wow that's awesome news, been a fan of the Currie Barracks redevelopment ever since I heard about it 5-6 years ago .. Awesome to hear they're going to increase the density by that much - must mean we'll see bigger developments in the pipeline

[MichaelS]

Wow that's awesome news, been a fan of the Currie Barracks redevelopment ever since I heard about it 5-6 years ago .. Awesome to hear they're going to increase the density by that much - must mean we'll see bigger developments in the pipeline

Much bigger. Think towers in the range of 25 storeys in some locations.

[lorenavedon]

Yeah, buildings drag things down, but there are some old units with concrete between the units such as Rocky Mountain Court. The state of unrenovated units are shameful compared to my old Boardwalk rental however. The long hallways also really show the construction deficiencies of trying to level floors before laser levels (while keeping them affordable).

Old buildings too a lot can't accommodate laundry except for european ventless types.

what can you tell me about Rocky Mountain Court. Was looking at buying a unit in there due to location but I know it had some issues with the parkade and other stuff a few years ago that seem to be fixed now.. Concrete walls sounds great to me in. I assume it was very quiet?

[MalcolmTucker]

Rocky Mountain Court is an interesting building. If I was working downtown instead of the university I may have bit the bullet and renovated a unit there. The units are a good size, but not the most useful shape (just a box!). Means you have a fair amount of storage or a non-bedroom flexroom.

There is a squash court and a tiny gym.

It could use a recapitalization, but there is a formal rental pool in the building. It would be great to live in for a couple years, then move out and have a bit easier time renting it. I doubt there will be much investment beyond what the reserve study says.

Have to remember that even very nice buildings have awful hallways, if your comparison is to hotels.

[Surrealplaces]

I remember wiring my boss's place (a single family home) for CAT5 around 2003ish. At that time it was not standard at all for houses, so I'm guessing the same for condos.

I agree about the wireless congestion. Yes, wireless is very handy, and new wireless AC can/will provide good bandwidth, but I would always take wired over wireless any day for varying reasons. Wireless should only be used if wired isn't available.

On a side note there are ways to retrofit ethernet cabling without getting expensive. I wouldn't make it a deal breaker if they found a place they really liked.

Here is a question, roughly when did ethernet wiring become fairly standard in condo construction?

Some friends of mine have been renting in a Y2K vintage building without it, they consider the fact their landlord recently tried to sell them their unit a sign that their lease probably isn't going to be renewed and they consider a unit not having it a deal breaker because the last two places they have lived both had severe wifi congestion.

And yes, they tried a 5Ghz router.

[Surrealplaces]

Interesting tweet on the difference in condo pricing between Calgary and Edmonton

Ian Meredith @ian_meredith
#Edmonton's newest high-rise condo launch is a clear $150 per SQFT (or 25%) less than #Calgary's newest (Fox II vs Guardian II, on average)

[lorenavedon]

Rocky Mountain Court is an interesting building. If I was working downtown instead of the university I may have bit the bullet and renovated a unit there. The units are a good size, but not the most useful shape (just a box!). Means you have a fair amount of storage or a non-bedroom flexroom.

There is a squash court and a tiny gym.

It could use a recapitalization, but there is a formal rental pool in the building. It would be great to live in for a couple years, then move out and have a bit easier time renting it. I doubt there will be much investment beyond what the reserve study says.

Have to remember that even very nice buildings have awful hallways, if your comparison is to hotels.

how was the noise level in there, and would you recommend buying unit in there if you plan on living in it? For me location trumps most other factors. But I still want a reliable building

[MalcolmTucker]

You'd have to see - no obvious noise but it was a weekend afternoon, and the unit was second from the end of the floor. With hard surfaced floor you always have the risk of an upstairs neighbor that likes wearing heeled shoes in their house.

Lower floors smelled of cooking, a hazard in any multi family. The unit I looked at was on the 28th floor, and the view was pretty nice. Down low you can get much cheaper though (there is a 700+ square foot unit listed for $210k!)

[Policy Wonk]

I remember wiring my boss's place (a single family home) for CAT5 around 2003ish. At that time it was not standard at all for houses, so I'm guessing the same for condos.

I agree about the wireless congestion. Yes, wireless is very handy, and new wireless AC can/will provide good bandwidth, but I would always take wired over wireless any day for varying reasons. Wireless should only be used if wired isn't available.

On a side note there are ways to retrofit ethernet cabling without getting expensive. I wouldn't make it a deal breaker if they found a place they really liked.

They're planning on renting for the foreseeable future. So I'm not sure that retrofitting in an option. They're finance types with some unpopular opinions on the health of the Canadian condo market.

I'm just surprised because come 1996 you could get broadband just about anywhere in Calgary. It seems like it would have become a basic expectation in all new housing a lot sooner.

[Surrealplaces]

They're planning on renting for the foreseeable future. So I'm not sure that retrofitting in an option. They're finance types with some unpopular opinions on the health of the Canadian condo market.

I'm just surprised because come 1996 you could get broadband just about anywhere in Calgary. It seems like it would have become a basic expectation in all new housing a lot sooner.

It's surprising that ethernet cabling hasn't been installed more than it has. It could be done so easily while the house is being built. When people are building a new place they check off a million different things, ethernet cabling could simply be one of them. It could be done cheaply and easily when the house is being built. Maybe they offer that and most people are ambivalent.

[Spring2008]

Interesting article on Kensington, but redevelopment of the Lido, Carpenter, and Medici, former blockbuster lots are a must. After that it's a case by case basis:


Let history still stand

By Ricky Leong ,Calgary Sun

The plaques are so discreet, I almost didn’t see them.

Adorning the outside walls of several buildings in the Kensington business district, they tell part of this neighbourhood high street’s story.

These tips of the hat to our history are appreciated — and as the character of the neighbourhood changes apace, they will be essential for tomorrow’s Calgary to understand how the area got its start.

It’s quite likely the entire street-scape around there will be altered within the next decade or two. In fact, it’s already begun in earnest.

A couple of new condo towers have sprouted over the last few years near the Sunnyside C-Train station, with more on the way.

A new condo block is springing up just a few steps west of the Legion hall.

Redevelopment of the Lido restaurant site is fast approaching.

Meanwhile, a fence recently went up around a swath of homes on 5 Ave. N.W., adjacent to Riley Park, signalling the imminent construction of a new residential complex.

There’s an application to develop a row of relatively dense housing along Memorial Dr., opposite the Calgary Soldiers’ Memorial.

City council was to hold hearings Monday on new developments on the west side of 10 St. N.W., north of Kensington Rd.

As overwhelming as this sounds, this is likely to be just the tip of the iceberg.

The redevelopment plan for the area allows for much taller, higher-density structures all around the Sunnyside LRT station from the bluff to the river, plus both sides of Kensington Rd., 14 St. and the north side of 5 Ave. along Riley Park.

There’s a lot to be positive about, notably new housing of all types, all within walking distance of transit and downtown, plus new retail/business opportunities at street level.

Unfortunately, it will come at the potential cost of losing buildings that link us with our city’s history.

It is true not every old building is a treasure worthy of protection or integration into new developments.

But so many of the structures in Hillhurst-Sunnyside are within zones of potential redevelopment and date back to the origins of the neighbourhood.

It would be a huge shame if we didn’t properly evaluate the historical significance of buildings at risk of being razed.

Besides, once the bulldozers and wrecking balls get to them, it will truly be too late.

Keep in mind, with the push to densify, what’s left of this city’s older neighbourhoods will be faced with this conundrum.

This wouldn’t be such a concern, if Calgary hadn’t already made mistakes in the past.

Our successive waves of frenzied boom-time construction have taken out huge chunks of our architectural heritage.

That quaint stretch of 8 Ave. we know as the Stephen Avenue Mall — lined with well-preserved sandstone buildings dating to the beginning of the last century — doesn’t exist because of enlightened foresight.

By all accounts, it is the byproduct of successive economic slowdowns that continually stalled redevelopment.

I’d like to think that little stretch of Old Calgary enriches the city … and it astounds me we only have the dumb “luck” of economic misfortune to thank for it.

Clearly, there is a huge interest in bringing new homes and businesses to the area surrounding the Sunnyside C-Train station. It’s about location, location, location, after all.

But I sincerely hope residents, developers and the city make a concerted effort to leave behind some traces of the Kensington high street we know and love.

Commemorative plaques are nice but historical preservation is better.
http://www.calgarysun.com/2014/04/15/let-history-still-stand

[Spring2008]

Ven, yes it spans the whole block:

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-frc3/t1.0-9/10153237_564567096975939_4128118027580850931_n.jpg
https://www.facebook.com/BucciLiving/photos/a.198221036943882.40103.165592356873417/564567096975939/?type=1&theater

[The Urbanist]

Interesting article on Kensington, but redevelopment of the Lido, Carpenter, and Medici, former blockbuster lots are a must. After that it's a case by case basis:

Don't forget about the "Tandoori Hut" Redevelopment @ 205-225 10 Street. Basically just south of the Bucci project. It will probably be something very similar.

[Spring2008]

Don't forget about the "Tandoori Hut" Redevelopment @ 205-225 10 Street. Basically just south of the Bucci project. It will probably be something very similar.

Haven't heard of this one, are there renders?


Pic of Ten Mount Royal.
https://www.facebook.com/TenAtMountRoyal/photos/pb.417395368320789.-2207520000.1397746741./678615925532064/?type=3&theater

New low-rise and mid-rise res within close walking proximity to the main strips in Kensington, Mission, Bridgeland, Inglewood, Lower-Mount Royal, Marda Loop etc. are becoming very popular. From a quick search looks like a lot of the new batch about to start soon based on solid sales.

[H.E.Pennypacker]

Damn.. We really need a map of Kensington outlining where all these new developments are going to be ;)

Any idea when Lido is going to break ground?

[MichaelS]

Haven't heard of this one, are there renders?



The parcels of land have only been rezoned (went to Council this past monday). There is no development permit yet. The only DP for the west side of 10th Street so far is the Bucci project.

[DizzyEdge]

Interesting article on Kensington, but redevelopment of the Lido, Carpenter, and Medici, former blockbuster lots are a must. After that it's a case by case basis:


http://www.calgarysun.com/2014/04/15/let-history-still-stand

They key is to have the tools to retain the key historic/character sites in Kensington, while being lenient with the redevelopment of the rest.

[milomilo]

They key is to have the tools to retain the key historic/character sites in Kensington, while being lenient with the redevelopment of the rest.

I don't know if it's just me, but I'm struggling to think of many historic buildings of merit in the area? The fact is Calgary only became a significant city relatively recently and the majority of the buildings around there are cheap single family homes, many of which are of wood construction and falling into disrepair.

By all means lets preserve the good examples in the area, but it's hardly Paris, there are more than enough forgettable buildings to redevelop.

[DizzyEdge]

I don't know if it's just me, but I'm struggling to think of many historic buildings of merit in the area? The fact is Calgary only became a significant city relatively recently and the majority of the buildings around there are cheap single family homes, many of which are of wood construction and falling into disrepair.

By all means lets preserve the good examples in the area, but it's hardly Paris, there are more than enough forgettable buildings to redevelop.

This is a tricky one, as that is usually intentional.

When it comes to old residential neighborhoods, I think there are a few challenges

1) There are often only a few non-single family housing structures which would qualify as "historic" individually, most structures that would are commercial, religious, etc.

2) The few individual single family homes which would quality tend to be those built by wealthier families, this resulting in more interesting architecture, but also larger houses and lots. These larger houses and lots tend to be the first to be demolished regardless of condition as more units can be built on the property

What then happens is the best and most historic homes are demolished, leaving those interested in preservation trying to preserve the lesser structures which are left. Usually almost none of these would quality for historic classification on their own. This leaves you with two remaining situations

3) first being clusters or strips of historic architecture which is representative of the era and founding of the community, where they are in decent shape and enough original condition where that cluster is historically relevant and

4) the rest of the housing from the same era which is in poor condition, has been badly modified, etc.

So the key here would be to expedite proper evaluation of 1) and 2) and put in place incentives which are effective in the kind of real estate market we have here in Calgary. Giving a home owner a $25k grant or some minor tax relief would likely convince a historic home owner in a area zoned for single family or perhaps semi attched, but probably not for someone who owns a historic home in the Beltline (See McHugh). Typically what is needed is density transfer so an owner can cash in the density they're not providing, by providing it somewhere else in the community, or selling it to someone who can apply it elsewhere in the community. That way the owner gets their payout which is essentially promised when an area is upzoned, and the desired density in the community that the upzoning aimed for is not lost.

When it comes to 3) that's a bit tricky, what typically is needed here are owners who think that being part of the "Sunnyside 7th Street Historic District" (just picking a street at random) complete with signage and fancy lights or whatever is something which would be of value, rather than looking at their home as a tear down investment only.

When it comes to 4), the issue tends to be more about 'character of the community" than any specific historic value. What I think is important here is as an area is upzoned, one should try to meet or exceed the architectural quality and perhaps be conscious of massing, rather than trying to put in strict rules to build the same style.

I have issues with restrictions to build the same style because it tends to lead to two situations a) kind oldey timey house that just look like cheap knockoffs b) high quality oldey timey houses which make people question why any historic buildings should be kept since we can create nice looking fake historic styled ones. When it comes to innercity communities with housing type 4) I'd like to see some high quality 'contemporary' replacement, for example high quality row housing or something that creates a new but equally comfortable and attractive character for the community, something that 100 years from now people might work to preserve.

God that was far longer than expected....and off topic

[milomilo]

Thanks for the detailed and thoughtful reply! One thing in the area's favour I think is that there is already quite a lot of dross built comparatively recently which could hopefully be replaced first.

You are right though that this is way off topic though so I'll leave it at that :).