Calgary developers are getting creative in tough condo market

Like much in life, the only constant in the housing market is change. Buyer tastes are ever evolving, and developers of new-build condo projects in Calgary must keep pace.

"Homebuyers today know what they want and need in a new home," said Nicole McLaws, marketing manager at Hopewell Residential. "They want excellent quality, timeless style, affordable pricing and a location that works for their lifestyle."

To meet those needs, developers offer a range of floor plan layouts and sizes, with stylish finishings and long-lasting materials. At the same time, they are keeping one eye squarely on the big picture.

Bucci Developments continues commitment to the community with Radius

Radius has risen in Bridgeland, with less than a year remaining before homeowner occupancy.

And demonstrating its continued faith in the inner-city neighbourhood, builder Bucci Developments is already at work on another proposed mixed-use project.

The roof has been placed on the seven-storey, 201-unit Radius, and cabinets and floorings are now going in, says company vice-president Mike Bucci.

"We took a risk pulling the trigger on construction" during the downturn, he says, but it will be worth it at the end of the day.

Proposed Inglewood condo tower will stand tall, but hurdles remain

A proposed 20-storey, mixed-use condo development for Inglewood would be the first of its kind in the neighbourhood, but has also raised concerns among some of the community's residents.

B&A Planning Group has been hired to consult on the project on behalf of a group of investors, and launched a community engagement process last year with brochures, open houses and town hall meetings.

The project plan includes 180 condo units, plus 14 townhouses and small-scale commercial spaces at its base.

As expected, Calgary sales activity similar to last year

The new year opened predictably, with monthly figures close to the Januarys of the past three years.

With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.

Battistella Developments raises the bar for architectural design in the Calgary condo market

Battistella Developments' condo highrises are marked by explosive colour and sharp artistry, boldly standing in several trendy neighbourhoods across Calgary's urban core.

Their names – and striking architecture – have become iconic: Orange, Chocolate, Chartreuce, Brunette, Ink, Pixel and Colours.

The goal is to bring something unique to the market, "every single time," said Chris Pollen, Battistella's director of sales and marketing.

Joshua Smith achieved his ideal downtown lifestyle at the right price point with a new Beltline condo

Joshua Smith, a 31-year-old communications adviser, was living in the northeast community of Taradale with his brother, commuting close to two hours a day to his job in the downtown core and back. His goal was to save some money and purchase a condo in the inner city. He yearned for the downtown lifestyle, where he could be close to coffee shops, restaurants and workout facilities. He wanted to be able to walk to work, and to meet friends for dinner or drinks without having to worry about a lengthy drive or an expensive cab fare. He also required a home with a great view, and it had to be affordable.

Posh three- to eight-car private garages, $270,000 kitchens, expansive and multi-leveled outdoor living spaces, private elevators, 24-hour concierge service, plus million-dollar, park or water views — it's all typical of Calgary's new luxury condo market.

High supply in Calgary's condo market continues to push down prices

Calgary's condominium market continues to see the supply of available product overwhelm buyer demand, meaning owners looking to sell need to consider ways to set their unit apart from the crowd.

According to CREB®'s 2017 Economic Outlook & Regional Housing Market Mid-Year Update, the condo market has seen a slight rise in year-to-date sales over 2016, but not enough to keep pace with a rise in listings, up an average of nine per cent over last year.

That increased supply is putting downward pressure on prices, which are expected to continue to decrease during the rest of the year for an annual forecasted decline of three per cent.

Market sees modest inventory gains, but overall prices inch up 

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

Citywide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

"Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement," said CREB® president David P. Brown.

Overture at Currie Barracks offers luxury living in one of Calgary's most exclusive and accessible communities

For homebuyers looking to downsize while maintaining the luxurious feel and amenities of a much larger space, a penthouse condo at Overture in Currie Barracks could be the perfect fit.

Overture is a four-storey, three-building collection of 63 upscale, executive, single-level living residences and penthouse condos brought to life by Jayman Modus. However, only two fourth-floor penthouse condos are still available – interested homebuyers need to act fast if they want to carve out a space in this exclusive new development and in-demand community.

"These penthouse condos are the ideal setting for working professionals and mature couples looking for luxury living in a complete, central community," said Ray Laprairie, a REALTOR® with Jayman Realty.