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May 2015 | Issue 185 Cover

May 2015 | Issue 185

Optimist prime

I may not be able to transform into an Autobot, but I remain steadfast in my view that Calgary’s housing market is well equipped to weather the current economic challenges.

With all due respect to Calgarians who have lost their jobs, as slumping oil prices take a toll on the oil and gas sector, the Calgary housing market remains strong and housing starts seem on a rebound this spring, led by new multi-family construction.

Although actual monthly numbers reflect a two per cent dip comparing February housing starts to March (from 1,667 units to 1,639), the Canadian Mortgage and Housing Corp. (CMHC) points out total housing starts in Calgary in March were trending upward at 13,480 units compared to 13,106 in February. The trend is a six month moving average of the monthly seasonally adjusted annual rates of total housing starts.

“Housing starts in Calgary trended upward in March after three months of decline,” says Felicia Mutheardy, CMHC’s Principal Market Analyst for Calgary. “This increase is mostly attributable to the number of starts in the multi-family sector, particularly apartment units,” she adds.

And this uptick in condos is reflected by our coverage this month. Our cover feature, Copperfield Park III, may be the poster child of this strength in the housing sector, as it continues its stellar sales in this last apartment-style condo development in this community.

Success seems to be balanced out evenly among suburban condos and those in the inner-city. Carlisle’s new Emerald Sky in Kincora, Stonecrofts’ Auburn Bay and Copperfield developments and Merge Development’s new Brookside at Baysprings in Airdrie all are doing remarkably well during what were supposed to be slow months. Vogue by LaCaille has one of the best inner-city locations that has made it an instant success, and the new Embassy BOSA project in the Beltline, The Royal, and Birchwood’s recently launched Ezra of Riley Park in Kensington all show the strong appetite for condos near the core.

Elizabeth Booth’s second of a two-part series on the lifestyle that awaits in Calgary’s downtown partly explains the draw of living in such a lively location. And I can’t wait to see the completion of Seton that will transform living in the deep south part of the city. As always, Kathy McCormick and David Crosson brings us the best in creating your lifestyle with their Shopping and Style features.

Oh, and I almost forgot, we have 2014 SAM Awards winners here, too. Congratulations to all!

We have even more special features inside that talk about Calgary’s uniqueness and underlying beauty and the strength of the community, which ultimately is the biggest asset against all the gloomy talk.

Pepper Rodriguez
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In This Issue

Loving life in Copperfield Park III

Loving life in Copperfield Park III

Achieving the dream of homeownership through the easiest way possible has always been the promise…

Read more about Loving life in Copperfield Park III

Ezra’s park

Ezra’s park

Riley Park in the community of Hillhurst/Sunnyside is one of Calgary’s most historic urban parks,…

Read more about Ezra’s park

Southern comfort

Southern comfort

As the southeast corner of the city continues to grow, Stonecroft makes it easier for…

Read more about Southern comfort

2014 SAM Awards winners announced

2014 SAM Awards winners announced

Morrison Homes took home its second straight Builder of the Year prize at the 2014…

Read more about 2014 SAM Awards winners announced

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Condo Living Insider

Grand Openings, Magazine Previews & More...



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