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March 2015 | Issue 183 Cover

March 2015 | Issue 183

Opportunity amidst the uncertainty

The plunging oil prices are certainly bringing plenty of gloom in the Calgary housing market, but not everyone is panicking. Some analysts even think the correction may ultimately be healthy for the market in the long run. We cover the possibilities of how the housing market in Calgary and Alberta will look for the year in our annual outlook feature, this time brought to you by Canada Home Builders Association (CHBA) – Alberta, plus a sidebar on what Calgary developers and builders think will happen in the market this year.

There are plenty of factors in play; lower oil prices will cause a downturn in the local economy, which will probably slow net migration to the city resulting in fewer home sales. However, the surprise lowering of interest rates by the Bank of Canada will support the housing market. Bucci Developments’ Mike Bucci also told us that builders can likely benefit from the lower labour costs that this scenario may bring with savings they can pass on to consumers. But CHBA – Calgary Region President Wayne Copeland warns the weakened Canadian loonie may also hurt suppliers’ buying power for materials sourced from the U.S. “That’s one factor that we didn’t have during the 2008 downturn, and we just don’t know how much this will affect the market down the road,” he says.

East Village relies on its strong fundamentals to weather the looming economic storm, and FRAM + Slokker’s Verve certainly benefits from this. Our cover feature this month continues to attract a diverse set of buyers with its vibrant style and central location in this rapidly evolving neighbourhood. We have six other condo developments in this our first 100-plus-page magazine of the year, covering both inner-city and suburban developments to give our readers the full scope of what’s available out there. We have Sonoma Nolan Hills by Morrison Homes, Copperfield Park III by Brad Remington Homes, ZEN Ravenswood by Avalon Master Builder representing the suburbs. While Verve, Park Point by Qualex-Landmark, The Armory by Cove and MAX by Assured Communities show the best of the inner-city.

But Condo Living is more than just condos, we also have a bunch of lifestyle features that help you make the most of life in the city. We have Shelley Boetcher spending A Day In Kensington and tells us of all the unique charms found in this thriving district. David Crosson gives us a taste of the emerging STYLEs from the International Design Show in Toronto he attended. While Kathy McCormick gives us the low-down on kitchen faucets in her Shopping story.

We also have the latest news on the Condominium Property Amendment Act, which is focused on modernizing Alberta’s condominium laws and setting a framework that supports responsible self-governance of condominium corporations. Check it out in Around Town. We still believe it’s the best thing to happen for everyone owning a condo — or contemplating on buying one.

It may be a while before we see the level of multi-family development activity we saw in 2014, but you can be sure that Condo Living will still be there to help you pick the best one for you.

By Pepper Rodriguez
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In This Issue

Vivacious Verve

Vivacious Verve

Verve is stylish, Verve is sexy, and in Calgary, Verve is commitment. The FRAM+Slokker high-rise…

Read more about Vivacious Verve

ZEN again in Airdrie

ZEN again in Airdrie

Peaceful, easy, green living comes to Airdrie as Avalon Master Builder launches ZEN in Ravenswood.

Read more about ZEN again in Airdrie

A lasting Legacy

A lasting Legacy

From a one-bedroom condo to million-dollar mansion on a ridge, Legacy has a home to…

Read more about A lasting Legacy

The Hills are  alive

The Hills are alive

Sage Hill and Nolan Hill share some distinct features: both are northwest communities that have…

Read more about The Hills are alive

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