Builders busy in surrounding region

Homebuilders and developers continue to be active in the surrounding area, with a number of new, highly anticipated communities under various stages of development.

CREB®Now takes a closer look at several noteworthy projects currently underway:

Harmony in Springbank

Harmony, located west of the City adjacent to the TransCanada Highway, is a joint-venture management partnership between Bordeaux Developments and Qualico Communities. The master-planned community will not only have 3,500 homes when all is said and done, but will also have its own village retail core and a large lake and wetland area.

Supply gains contribute to inventory rise in soft housing market: CREB®

Calgary's residential resale housing market continued to exhibit signs of softness last month, according to CREB®.

The real estate board noted in its most recent housing summary that inventory levels continued to rise in May due to an increase in new listings and decrease in sales.

As a result, the benchmark price in the city decreased for the eighth consecutive month to $439,700. May's price represents a 0.3 per cent decline from last month, and four per cent from last year.

For the full report, click here.

Sales dip in Airdrie and Okotoks while Cochrane activity on the rise

Calgary's regional resale residential housing market didn't fare much better than its larger urban counterpart in April, posting sales declines almost across the board, according to CREB®.

Year-to-date sales in Airdrie eased by nearly eight per cent over last year's levels to 405 transactions, but remained higher than long-term averages, the board recently reported in its monthly regional roundup.

Benchmark prices in Calgary's neighbour to the north decreased by three per cent from last year to $363,400, and overall remained more than two per cent below the highs recorded in 2015.

95 companies announced as 2015 SAM Awards finalists

Nearly 100 companies and professionals in the Calgary and area's residential construction industry were recognized Thursday as the newly amalgamated CHBA – UDI Calgary Region Association announced finalists for the 2015 Sales and Marketing (SAM) Awards.

The 29th annual awards, which celebrates and acknowledges innovation and excellence in the industry, will hand out 60 piece of hardware, including the top Grand SAMs – three builder categories (Builder of the Year, Builder of Merit for a small-volume builder and Multi-Family Builder of the Year).

Live-work concept grabs holds in Cochrane

In a town of less than 20,000 residents, the traditionally large urban centred live-work concept is proving to be a big hit.
Cochrane town council has just given approval of amendments to its land-use bylaw to ensure specific guidelines are in place for both developers and owners of units in mixed-use residential/commercial projects.

This comes after LaVita Properties, the developer behind Cochrane's first live/work project aptly titled Satellite Townhomes in Sunset Ridge's Trading Post development announced it is already planning a second similar venture.

La Vita Land to redevelop historic site

The Town of Cochrane announced Tuesday that it has sold its old town hall site to local developer La Vita Land Inc. for $2.75 million.

La Vita will redevelop the site to act as a "gateway and visual welcome to the heart of Cochrane, including the historic downtown area, from Highway 1A via Centre Avenue," said the Town in a release.

Council approved a framework for development, creating the Downtown Heritage District in 2015, that led to the call for proposals.

Fundraising total also surpasses $4.5 million

Cochrane's $45-million aquatic and curling centre has taken another step forward, with construction on the structural steel frame now complete.

Roofing insulation on the 150,000-square-foot project, being constructed adjacent to the existing Spray Lakes Sawmills Family Sport Centre on the east side of town, has also started.

The remaining second floor and roof deck is in progress and is expected to be completed within the next few weeks, as will the installation of window frames and fire spray to structural beams and decks.

Surrounding region's housing market to be similarly impacted by sluggish economy: CREB®

The resale residential housing market surrounding Calgary is expected to feel the pinch from a sluggish provincial economy, with prices facing downward pressure from slower sales activity.

In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, chief economist Ann-Marie noted Airdrie and the Rockyview and Foothills regions will face similar conditions as that within Calgary.

"The resale residential housing market outside of Calgary will face the same macro-economic influences on housing demand as those within the city in 2016," she said, noting each area will have its own set of circumstances that will influence supply, demand and prices.

Designed to promote sustainable community

The Town of Cochrane has launched a new campaign that encourages residents to shop local and support the community as a place to live, work and play.

Dubbed Proudly Cochrane, the initiative is designed to highlight the shopping opportunities that exist within the town of more than 20,000 residents, said economic development manager Mike Korman.

"It's really about being proud to come home from wherever we work and to shop at the local stores – (to) just sort of create a little buzz," he said, noting the campaign is supported through the hashtag #shopcochrane on Twitter, Facebook and Instagram, as well as via testimonials at www.cochrane.ca/ShopCochrane.

Calgary's satellites rank as best places to do business

For the fourth consecutive year, Calgary's satellite communities have been ranked as the top places to do business in Canada.

In its eighth annual Canada's Entrepreneurial Cities report, the Canadian Federation of Independent Business (CFIB) ranked areas around the grouping of municipalities that surround Calgary – including Airdrie, Chestermere and Cochrane – as the best at fostering "entrepreneurial spirit."

Calgary periphery scored 73 out of a possible 100 in the major cities category (population over 150,000), followed by Kelowna (71.4), Edmonton periphery (69.5), Saskatoon (67.7) and Toronto periphery (67.3).