Just Listed : #306, 3650 Marda Link SW

Welcome to this exquisite, penthouse loft in the coveted “Courtyards at Garrison Woods”! This trendy executive suite is located in the heart of iconic Marda Loop. It features grand proportions, soaring ceilings, and a magnificent layout, ideal for entertaining and luxurious living alike.
As you enter the suite you are greeted by the dramatic, double-height living room. It has details such as vaulted ceilings, a corner gas fireplace and is lined with oversized windows that overlook a garden courtyard. The amazing open concept living space is bathed in an abundance of wonderful light from any vantage point.
The eat-in kitchen features a breakfast bar and dining area. The upgraded black and stainless steel appliances are set among the great features such as tiled backsplash, a large pantry and luxurious slate flooring. Under the stairs there is a unique space-saving and functional office nook built-in to match the kitchen. A powder room, storage room with stacked washer/dryer, and a large east facing balcony complete this main level.
A beautiful staircase off the living room leads to the second level master bedroom floor that stretches the entirety of the suite. The stylish upstairs loft provides the ultimate retreat; you’ll find your light-filled master bedroom with unobstructed views, a large closet and a full 4pc spa-inspired bathroom.
This is a secure, upscale 18+ building with exceptional recreational features including a lap pool and change rooms with shower facilities. The exercise area includes stationary exercise equipment. There is also a clubhouse with a fireplace, kitchen facilities and furnishings. Guest suites are available. Also note there is an assigned, secure parking stall, storage locker, car wash, air conditioning and integrated sprinkler system. Two blocks from everything you need from groceries and coffee shops to Village Ice Cream. Just a quick trip to Mount Royal College, Glenmore Athletic Park or Downtown.

For more details please click here

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Five Things About Population Impact On Housing

Weak net migration expected to impact Calgary’s housing market

Population growth in Calgary will moderate moving forward and contribute to a decline in housing demand, according to a market brief issued earlier this month by Canada Mortgage and Housing Corp. (CMHC).

In the release, the national housing agency noted net migration is expected to remain relatively weak over the next two years, which will have a trickle-down effect on the local real estate market.

CREB®Now breaks down five things you need to know about how population will impact housing demand in Calgary this year and next.

The History

Calgary’s population outpaced the national average for the 10 years preceding 2015. From 2006 to 2015, the city’s population increased an average of 2.81 per cent per year, compared with 1.12 nationally. CMHC credited the growth to favourable economic conditions, which attracted prospective workers to the region. This also boosted demand for housing, with total starts and MLS® sales both reaching record highs in 2014.

The More Recent

Calgary’s population growth started to level off in 2015, when the rate of newcomers to the city grew at 2.44 per cent, down from 3.55 a year earlier. CMHC attributed the moderation to weak oil prices that ultimately impacted investments in the energy industry – and, thus, employment prospects in the city.

The Employment Picture

While 2015 might have looked and felt like 2008, it will be considerably different moving forward. CMHC said economic recovery will be more gradual this time around, resulting in job losses – especially in full-time positions. In the first quarter of 2016, the city’s unemployment rate increased to 8.96 per cent compared to 5.67 in the same period in 2015.

The Outcome

With fewer employment opportunities in Calgary, along with stronger labour market conditions in other areas of the country, CMHC said net migration to the city will decline and remain relatively low. Net migration is projected to decline from 21,057 in 2015 to 14,000 in 2016, and then rebound slightly to 14,500 in 2017. This will limit Calgary’s population growth and temper housing demand.

The Outlook

Following several years of elevated growth, Calgary’s population will rise only 1.91 in 2016 and 1.81 per cent in 2017, said CMHC. This will bring the population in Calgary to 1,466,500 and 1,493,400 in 2016 and 2017, respectively.

“Total population in Calgary is forecast to grow at its slowest rate since 2010, largely due to a decline in net migration, and contribute to weaker demand for housing,” said Richard Cho, senior market analyst in Calgary for CMHC’s Prairie region.

 

CREBNow By: Jamie Zachary

The Why of Walkability

Experts tout prevalence in today’s homebuying decisions

Walkability has evolved from a buzzword to an influential part of home purchasing decisions in Calgary, say real estate experts.

And to meet growing demand for improved accessibility, developers and planners need to start now by designing communities of tomorrow through a more pedestrian-friendly lens.

“(Walkability) is important to our customers,” said Brookfield Residential development manager Tara Steell. “We’re hearing from them and using best practices to create communities with master-planned communities. We have the ability to influence that and try to get people out of their cars.”

Steell said Brookfield is making walkability a priority when developing South Seton, a residential community that is expected to start construction as early as this year off the south terminus of the future Green Line. The southeast Calgary community follows the Urban Land Institute’s 10 Principles for Building Healthy Places, which includes walkability.

“But it has to be useful,” said Steell. “What (do walkability connections) look like for the homeowner? The community needs to be active for all modes of transportation.”

City council recently acknowledged Calgary’s walkability woes by passing its first pedestrian strategy in early May. Dubbed Step Forward, it includes more than four dozen recommendations aimed at making communities more walkable, including installing more flashing lights at crosswalks and building mid-block crossings in busy areas.

In the report, the City notes the walking mode share for all-day, all-purpose trips citywide fell from 13.2 to 11.7 per cent. Step Forward is looking, in part, to increasing the city’s walking mode share to 15 per cent by 2025.

“Investments in pedestrian network development and maintenance makes our communities more walkable, which supports local business and strengthens the social fabric of our neighbourhoods,” said City of Calgary transportation general manager Mac Logan.

The initiative comes as sobering statistics come to light regarding pedestrian safety in the city. Between 2005 and 2014, the City recorded 3,834 pedestrian-involved collisions, resulting in 3,317 injuries and 95 fatalities. Figures from 2015 are not yet available.

According to Walk Score, a Seattle-based company that’s created a walkability index seen in most residential listings on the MLS® System today, Calgary currently scores just 48 out of 100, behind other urban centres such as Edmonton (51) and Banff (67).

While walkability is becoming increasingly prevalent, it is not a new idea, said Federation of Calgary Communities urban planner Carrie Yap.

“You look back at old neighbourhoods, the grid (system) is a walkable form, as opposed to all the curvilinear cul-de-sacs,” she said.

Yap defines walkability as “connectivity, through either a grid or through connectivity of elements.” That might include a more pedestrian-friendly environment such as wider sidewalks and wayfinding signage and landmarks, as well as direct connections via pathways and linear parks.

“It mainly comes down to accessibility,” said Yap, adding vehicles can be a barrier to getting to know the people on your street: “social capital, as opposed to social isolation.”

Such connections, “is one of the pillars (our) community was established on,” said Daniel Santiago, communications and recreation co-ordinator with McKenzie Towne council in the city’s southeast.

“The idea was you could phase your life in McKenzie Towne, whether you’re living in a single-unit condo, move on to a family home, retirement and long-term care facility,” he said. “You can bike and walk anywhere in McKenzie Towne and you don’t really need to drive very much.”

McKenzie Towne’s hub is High Street, a commercial area linked closely to the community hall, pathway system and future Green Line LRT station.

“High Street is basically a promenade that you can walk along with different shops and services, and some have storefronts and some have patios out front,” said Santiago. “It goes a long way to creating a bit of atmosphere and community aspect – you see people you know on the street.”

Santiago said the McKenzie Towne concept of mini-villages connected together “piques the interest of different people. And there is a lasting sense of community, too.”

Still, the concept of walkability doesn’t always match up with the realities of life in an urban centre such as Calgary, said “urban explorer” and blogger Richard White.

“I live in the inner city and I find people who could walk to the grocery store every day or take transit, but they don’t have the time,” he said.

“We have not created a walking culture. Kids from the day they are born are being driven to day care. People don’t realize how far they can walk in 15 to 20 minutes. It’s not top of mind to walk first.”

White said parents, at least, are more likely to consider the presence of a good school when choosing a neighbourhood over other factors like walkability.

“It’s probably more important than in my generation,” he said.

 

CREB NOW by  Alex Frazer-Harrison

Detached versus higher-density segments: two very different stories in August

Overall sales activity was down again in August, totalling 1,567. However, this figure does not reflect the big differences in activity between the detached sector, versus the high density apartment and attached segments of the market.

“While overall sales have eased for detached homes, so too has the amount of new listings on the market preventing inventories from reaching previous highs and limiting the downward pressure on pricing,” said CREB® chief economist Ann-Marie Lurie. “This is not the case in both the attached and apartment sectors which have recorded inventory levels near August highs.”

The detached benchmark price totaled $503,200 in August, 3.3 per cent below last year, but similar to levels recorded last month. Meanwhile, condominium apartment prices continue to decline totaling $274,900 in August, 7 per cent below last year and are at levels comparable to figures reported at the end of 2013.

Price declines were higher in the apartment sectors, due to the more pronounced imbalance between supply and demand. On average, apartment inventories rose to levels well above historical norms. At the same time, sales are at their weakest level since 2003 causing months of supply to average over 6 months so far this year.

“It is very important for both buyers and sellers to pay close attention to the data in their particular area, segment, and price point,” said CREB® president Cliff Stevenson. “We are clearly seeing a significant difference in the performance between our detached, and our attached and apartment segments of the market, making it very difficult to use city-wide housing data for decision making purposes in today’s market.”

Trends in the attached segment of the market tend to resemble the apartment sector. However, the extent of the pullback was not as severe in the attached sector mostly due to the semi-detached product within this segment. On average, this year benchmark prices declined by 2.6 per cent for semi-detached product compared to the 5.7 per cent decline in row style properties.