Vancouver-based Macdonald Development Corp. is known for its thoughtful community designs, often imbued with a west coast feel.

It's a vibe that resonates with residents – connecting neighbours and instilling a strong sense of community. Watermark at Bearspaw, the developer's latest master-planned community, is no exception.

The 290-acre community is located in Rocky View County at the edge of Calgary's city limits, touching the northwest neighbourhood of Tuscany.

Bearspaw is part of Rocky View County, a horseshoe-shaped region that encompasses over 16 communities, including the upscale estate areas of Springbank, Elbow Valley and Bragg Creek. Today, Rocky View County has a population of almost 40,000 people, living in 13,620 dwellings, mostly on acreage-type lots, with Bearspaw making up a much smaller portion of those numbers through a combination of farms, ranches, acreages and master-planned communities.

Finding the right home in a welcoming community

When Chris and Carly Dykstra sold their home in Victoria's Oak Bay neighbourhood last spring, they debated what their next step would be. They had lived on the West Coast for close to 10 years, raising their three girls who are six, 10 and 11. But when push came to shove, the Dykstra family decided to move back to Calgary, where Chris had started his career and the couple's two eldest girls had been born. They found their perfect home, one that would accommodate three children, three Golden Retrievers, a cat and a bunny – a 4,500-square-foot, open-concept, custom home in the family-friendly neighbourhood of Watermark in Bearspaw.

Amy Shafer found her own private oasis in Watermark at Bearspaw

Amy Shafer grew up on a farm, so when it came to building her dream home, being immersed in nature on the doorstep of wide-open park space was a top priority. She and her husband, and their three children, had been living in Valley Ridge, but just didn't feel connected. Their search for the perfect lot brought them to Watermark in Bearspaw, where they purchased a 1.33-acre home site that backs on to an Aspen grove, a freshwater pond and walking trails. The community features 46 acres of parkland and 16 ponds, and brushes up against the Haskayne Legacy Park, with trails connecting to Calgary and Cochrane.

Luxury sales numbers rebound; experts point to demand's impact on pricing

Calgary's luxury resale housing market bucked the trend in 2016, posting modest improvements in sales volumes throughout the year and recovering somewhat from the significant decline experienced in 2015.

Yet industry observers urge caution at interpreting this past year's numbers at face value, saying a return to long-term averages is still far away.

Homebuilders, developers cite international interest in region

Over the past four months, one-third of the 11 sales at the luxury Creekstone condo project in Canmore's Spring Creek development have been to foreign buyers.

And while there have been no purchasers from China — yet — developer Frank Kernick said it is "just a matter of time" before they come.

Luxury buyers want it all including the (second) kitchen sink

Today's homebuyers want more for less – a pattern that is also starting to manifest in the luxury market, say local industry experts.

"There's no question that, like everybody, we've felt the pinch," said Danny Raposo, general manager of Astoria Custom Homes, which is building in Watermark at Bearspaw, just outside the city limits.

Still, Raposo describes 2016 as "a decent year," noting an increased interest in Astoria's Watermark product during the eight weeks prior to mid-September.

Bearspaw, Springbank appealing to a more diverse sect of buyers

Long admired for its opulence, the communities of Bearspaw and Springbank just outside of Calgary's northwest border are now attracting a wider range of buyers who are looking for a bit of everything, say industry professionals.

"Years ago, the area was big into horse culture – everyone wanted to buy a pony for their teenaged daughter. Now, it is more about organized sports, family vacations," said Jeff Neustaedter, a real estate professional whose office last year saw 35 transactions above the $1.1-million mark in Bearspaw alone, ranging from 40-hectare sites to secluded parcels.

While the area between Calgary and Cochrane has always been known for its stately homes, McKinley Masters Custom Homes owner Mark Kwasnicki noted homeowners want more these days – they want space to stretch their legs, but also to get away from the hustle and bustle of city life.

Construction declines won't diminish market, says industry

Calgary's new housing market in 2016 will be characterized by a gradual slowdown, with highlights coming from first-time buyers, a resurgent luxury sector and continued multi-family growth, say industry insiders.

Canada Mortgage and Housing Corp. (CMHC) forecasts a 16 per cent decline in Calgary housing starts to 10,000 units, following a 23.9 per cent decline Calgary in 2015.
For single-family homes, that means only 4,000 starts this year — the lowest since 1988 – from 4,138 in 2015.

Multi-family starts are predicted to fall to 6,000 units from 8,895 last year.

Despite the slowdown, Canadian Home Builder's Association-Calgary president Wendy Jabusch believes Calgary's housing market will continue to remain healthy, especially as net-migration numbers to the city continue to be positive. The Conference Board of Canada forecasts levels will total 11,747 in 2016, compared with 14,951 in 2015.