Edmonton's Rohit Communities see opportunity for growth in Calgary's northeast

 An Edmonton-based housing and land development company making its initial foray into Calgary sees opportunity for growth as the city's struggling economy continues to strengthen.

This summer, Rohit Communities will begin construction of 110 townhouses, named Essential Savanna, on 3.6 acres in the master-planned northeast community of Savanna by Genstar Development Company.

Possessions are expected to begin early next year, said David Allen, regional manager for the Calgary division of Rohit Communities.

Smallest year-over-year decline since 2014

Residential resale housing activity declines in the province eased last month, falling by 3.8 per cent to 4,611 units, according to the Alberta Real Estate Association.

The provincial organization noted September represented the smallest year-over-year decline since December 2014.

Meanwhile, the average MLS® residential price in Alberta rose 3.9 per cent from September 2015 to $396,646.

Sellers' conditions in B.C., buyers' in Saskatchewan

A new report from the Conference Board of Canada says balanced conditions in Calgary's resale housing market are expected to create price gains in the coming months.

In its June Metro Resale Snapshot, the organization anticipates the city's MLS® price will increase between zero and 2.9 per cent over the short term. In May, the house price in Calgary was $465,840, up 1.1 per cent from April and 2.3 per cent from a year ago.

Study author Robin Wiebe classified Calgary's housing market as balanced, noting sales volumes in May increased by 1.6 per cent on a month-over-month basis, while listings declined by 1.9 per cent.

Index drops by 1.2 per cent in May

After a period that saw Calgary's vacancy rates at virtually zero and rents among the highest in Canada, renters in the province's two largest cities are now seeing the outcome of Alberta's economic downturn in the form of lower prices, according to a new report.

The latest data from the Consumer Price Index shows renters in Alberta's two major cities might be getting a break. The May 2016 index in Calgary has dropped by about 1.2 per cent from the peak it hit in September of last year. Rents in Edmonton have dropped by 0.3 per cent.

Calgary, Edmonton tied for second

Calgary continued to be one of Canada's fastest-growing cities in 2015.

Growing in size even in the face of a struggling energy sector, Calgary tied with Edmonton as the second- fastest-growing cities in all of Canada.

According to Statistics Canada, Calgary and Edmonton posted identical population gains of 2.4 per cent between July 1, 2014 and June 30, 2015, placing the two centres behind only Kelowna, B.C. as the fastest-growing cities in Canada.

The average growth nationwide was 1.2 per cent, with five centres (Thunder Bay Ont., Peterborough Ont., Saguenay Que., Sudbury Ont., Saint John NB) posting populations declines over the surveyed period.

Reinvigorate your space with a personal hue

There's nothing like a downturn in the economy to make you rethink your priorities.

Yet you don't have to give up on great style. Instead, you just have to find new ways of spending less on great things, as well as you determine what can and cannot live without – in other words, become a creative director of your own fabulous space.

Start with the backdrop. There isn't much that invigorates a room more than a fresh new coat of colour. I have my go-to colours, which are tried and true: timeless shades of whites and grays; greens and blues that evoke serenity, soulfulness and calm.

If you want a hint of glam or mood, be brave choose a saturated palette. Use a rebellious colour, introducing a passionate and romantic mix that will add sophistication and attitude to your room. Paint a master bathroom with deep turquoise blue high gloss so candlelight reflects off the walls, impersonating that of a moonlit ocean.

'Wholly inadequate' for some key segments

A new study is painting a frightening picture of the financial preparedness for those nearing retirement in Canada.

According to the Broadbent Institute, the value of retirement assets of those aged 55 to 64 without an employer pension – representing about half in this age cohort in Canada – is "wholly inadequate," with a median value of only $250 for those earning between $25,000 and $50,000 and $21,000 for those with incomes in the $50,000-$100,000 range.

"This new data on retirement savings and gaps in support makes one thing perfectly clear – we have a retirement income crisis on our hands that requires urgent government action now," said Rick Smith, executive director of the Broadbent Institute.

Company says Calgary too cost-prohibitive

Calgary city council voted Monday 14-1 in favour of new ride-sharing regulations that will require more rigorous licensing, background checks and inspections.

Yet U.S.-based Uber said the model is cost prohibitive and that the draft bylaw will run the company out of Calgary.

"It's a really unfortunate day for riders and drivers in Calgary," Ramit Kar, Uber's general manager for Alberta, told reporters. "For riders, there's no longer going to be an option that they've been asking for to get transported around the city."

In a statement on Twitter Monday night, the company added that, "it's unfortunate to see #yyccc vote for regulations that prevent the return of ridesharing to Calgary. "We'll continue to advocate for solutions that create jobs for drivers & affordable transportation options for the public. "

City leads country in sales, price declines: report

Canada's resale residential housing markets illustrated further signs of regional disparities in January, with sales and prices up in hot markets such as Toronto and B.C.'s Lower Mainland yet down in others such as Calgary and Edmonton, according to a new report from the Canadian Real Estate Association (CREA).

Sales in Calgary last month fell by 14 per cent to 1,049 units, representing the sharpest year-over-year decline among all major urban centres in Canada. Edmonton also saw a sharp 9.7 per cent decrease in the number of sales to 777 units.

In contrast, Greater Vancouver saw sales pick up by 30.3 per cent to 2,626 units and Greater Toronto Area (GTA) by 7.3 per cent to 4,672.

The past, present and future of secondary suites in the city

Calgary is a city on the move. Energy sector uncertainty aside, cranes continue to dot the skyline and new communities continue to blossom along the outskirts.

However, despite years of debate, a familiar topic seems poised to remain as a burr under the saddle of the "Heart of the New West" – secondary suites.

Most recently, a council committee was tasked this week with determining whether to hold a plebiscite that would let the public decide whether suites should be allowed in neighbourhoods they're currently not zoned for. With an estimated price tag of $2 million, reports suggested city staff was fully opposed to the option.