Calgary distinctive in offering both metropolitan and acreage luxury

Calgary's housing market has evolved to include a luxury segment offering buyers just about anything their hearts desire, suggested a local industry expert.

"We have those individuals who want to experience the city life, so that's the downtown metropolitan living," said Mary-Ann Mears, managing broker with Sotheby's International Realty Canada.

Bridgeland Market shines while other corner stores are going the way of the dodo

Fresh-baked cookies, cheese from around the world and pints of organic ice cream are just a few of the treats visitors will find at Bridgeland Market, one of a vanishing breed of family-run corner stores slowly fading from the Calgary landscape.

Run by the Traya family, which also operates Tazza Deli & Grill across the street, Bridgeland Market, like Lukes Drug Mart a few blocks away, has actually grown with the times to become a community mainstay.

First-time homebuyers turning to mom, dad for financial assistance

More young Canadians are turning to their parents to help find financing when purchasing their first home.

According to BMO's 2015 Home Buying Report, 42 per cent of first-time buyers are expecting their parents or relatives to help pay for their first home. Up 12 per cent from
last year, the number shows Canadians needing a helping hand to enter the market is on the rise.

Still plenty of activity coming to Calgary's commercial sector

Dueling industry reports are challenging expectations of how active Calgary's commercial market will be this year in wake of ongoing energy sector uncertainty.

Commercial real estate firm Cushman & Wakefield indicated in a recent study that Calgary's development cycle has "come to an end." It noted in the first quarter, the downtown office market alone experienced negative absorption of 1.2 million square feet, the largest quarterly decline in the city's history.

Calgary corner store a staple to Bridgeland community, more

Community Cornerstones series: A look at Calgary and area's rich history of both new and old corner stores.

Little did Jim Lukes know when he opened a drug mart on the corner of First Avenue and Fourth Street N.E. in Bridgeland, it would grow to span three generations and change with the community around it.

"The store was started in 1951 by my grandfather Jim Lukes. My dad (Bob) took over in about 1985 and I've been running it probably about six or seven years," said Gareth Lukes, calling from Vancouver where Lukes has just opened its fourth location (the other two are in Killarney and Renfrew).

Decreases to Alberta's education budget causing further concern for Calgary parents

Candice Collins is no stranger to long commutes. Growing up in the northeast community of Rundle, she had to navigate the city's public transit system for hours each day to attend William Abrehart High School in city's northwest, her designated French-immersion school.

Now in her 30s, Collins is worried her five-year-old son may face the same fate in getting to school.
"[I'm concerned] he's going to wind up with a super long commute. Because in order to find the programs and the atmosphere that I want, we might have to move around," she said.

"I have quite a few people who have told me they have to take their kid great distances every day. Maybe their elementary school is close, but then their junior high isn't close and their high school might be even farther."

A local REALTOR has spearheaded fundraising efforts for nine Calgarians whose four homes were affected by a two-alarm fire Monday night.

The fire broke out around 5 p.m. on April 20.

"When the fire happened, people in the community started phoning me," said CIR's Robyn Moser.

Increased selection for attached, apartment homes in March

Proving that selection is sometimes the best sales pitch, attached and apartment listings increased year-over-year in March from a combined 1,272 to 1,360, according to CREB®.

The increase comes as combined sales decreased by 28 per cent during the month, from 975 last year to 700 units this year.

Coupled with the fact benchmark prices in the attached apartment sector have softened more than in other sectors – dropping by 1.46 per cent compared to a 0.4 per cent decline in the detached and attached sectors – the increased selection offers prospective buyers an attractive combination.

While some historic Calgary corner stores have gone the way of the wrecking ball, others are emerging as community cornerstones

You see them dotted around the Calgary landscape.

Some, a little rough around the edges, have been frequented by families for more than 60 years. Others have undergone transformations to become lynch pins of re-emerging communities in the city.

They're your neighbourhood corner store.

"Have you ever heard of Mary's? We used to go there all the time when we would go to [Bowness] Park," said Michelle Norman, 28.

Calgary's core office market could see vacancy increases that endure even after a recovery in oil prices

According to a new report from commercial real estate firm Cushman and Wakefield, the negative effects of the drop in oil prices could remain for up to a year after a rebound.

"Although the brunt of the declining oil price was felt in Q1 2015, it is expected that negative absorption will continue throughout 2015," said the report.

"Net rates will drop in the CBD (central business district), while the suburbs will be impacted to a lesser extent. History would suggest that we can expect tenants to begin taking back space once oil prices strengthen and the market regains confidence."