edmonton home & condo living sept 2013

S O U R C E M E D I A G R O U P : C E L E B R A T I N G I T S 1 0 T H Y E A R S E P T E M B E R 2 0 1 3 E D M O N T O N H O M E & C O N D O L I V I N G • 5

COVER FEATURE

8 Rosenthalhasitall Stop to smell the roses Melcor has based its community theme on

CONDO PROFILE

10 Iconicliving Location: this condo

has it in spades

SHOw HOME PROFILE

14 StableSabal Get attached to

Hawks Ridge’s homes

COMMUNITY PROFILE

18 GoWest Edmonton’s community

of Secord is a crowd pleaser

NEwS

20 Everyonewins! The best of the best in the industry

are recognized for their efforts over the past year

S E P T E M B E R 2 0 1 3 n V O L U M E 5 I S S U E 4 2

CONTENTs

MARkET VIEw

23 CMHCpolicymostlikelymeanshigherrates

FEATURE

30 Talesfrom thecondozone

Mr. Melonhead’s wild ride

ITEMS

6 Editor’sMessage25 AroundTown26 Maps27 AdIndex

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6 • E D M O N T O N H O M E & C O N D O L I V I N G S E P T E M B E R 2 0 1 3 S O U R C E M E D I A G R O U P : C E L E B R A T I N G I T S 1 0 T H Y E A R

September is the beginning and the end for many things; school starting and summer vacation ending are key ones that come to mind. But it is also a time when developers and builders make their estimations of sales and future plans of where and what to build. Potential homebuyers also take in the almost-fall season as a good time to visit show homes and take inventory of what is out there to possibly build or buy.

Our cover story about the west community of Rosenthal by Melcor Developments, found on page 8, may help you discover a new Edmonton community you hadn’t considered living in before. Also in the west, is the tucked-away community of Secord that is profiled on page 18. Both communities boast natural amenities many wouldn’t consider possible to have so close to their home, but turn the pages to see for yourselves! Or even better, follow the Fast Facts information to get you there in person.

Wesley Gunderson’s Market View column provides a bit of insight for those seriously considering buying a new home. On page 23, you will learn a bit more about what the CMHC’s National Housing Act Mortgage-backed Securities Program actually is and how it affects you and your purchase plans.

Condo buyers will have to move fast to snap up the few remaining units left in the Icon II — our featured condo by Langham Developments Limited. If it’s too much pressure to move so quickly, Langham teases our readers with its next project: Fox Towers, also in downtown Edmonton.

Sabal brings a new home building approach to Edmonton in the northwest community of Hawks Ridge. See what the developer has had success with in Calgary and is attempting here in this city on page 14.

And to offer a pat on the backs of the city’s many reputable builders, developers and renovators, we’ve previewed the Awards of Excellence in Housing event, which will take place in Jasper on September 13. The CHBA – Alberta recently announced the finalists and Edmonton proudly represents the highest number of potential winners overall in the province. See on page 20 if your favourite Edmonton home builder is on the list.

I look forward to this new role as editor of Edmonton Home & Condo Living and wish the best to Shelley Williamson who passed the torch on to me so I could start fresh in September: my own new beginning.

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E D I T O R I A L

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EDITOR’s MEssAGE

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8 • E D M O N T O N H O M E & C O N D O L I V I N G S E P T E M B E R 2 0 1 3 S O U R C E M E D I A G R O U P : C E L E B R A T I N G I T S 1 0 T H Y E A R

| Advertising cover FeAture |

Among the homes is a constructed wetlands area that was built to enhance bird and waterfowl habitats.

Rosenthal has it allStop to smell the roses Melcor has based its community theme on

Imagine a community designed with an active lifestyle in mind.

Numerous multi-use trails loop through a maze of vibrant homes, linking surrounding communities and a smorgasbord

of amenities nearby. The laughter of children echoes throughout a large playground and spray park on a hot summer day, while fountains dance on storm ponds with a boardwalk bridge crossing over streams. The smell of roses wafts through the air.

Welcome to Rosenthal by Melcor Developments — where everything you need in life is easily within reach. Conveniently located off 215 Street and Whitemud Drive in the city’s west end, Rosenthal is one of Edmonton’s newest communities in bloom.

Its handy location makes it close to shopping, schools, golf courses and other attractions such as West Edmonton Mall, Costco, and the internationally acclaimed River Cree Resort and Casino that features world-class entertainment.

But aside from the active lifestyle and great location, what really sets this community apart, says Melcor Senior Development Manager Susan Monson, is the elevated architectural standards. According to Monson, the neighbourhood calls for premium siding colours. This adds to Rosenthal’s vibrancy, giving the community a fresh look and feel.

“We believe this will be a wonderful community for first-time homebuyers and young families,” Monson says. “There is a great mix of housing products: single-family homes, duplexes, townhouses and condos.” Development of the 450-acre community began in 2012 and is expected to continue for the next five to 10 years.

The community will boast landscaped amenities such as a large playground and spray park, multi-use trails, and storm ponds while incorporating a rose theme amongst its floral establishments.

Among the homes is a constructed wetlands area that was built to enhance bird and waterfowl habitats, inviting the sounds of nature into your backyard. The ponds also slow down and filter storm water before it enters the local drainage system.

In addition, the city has slated two school sites for the community — an elementary school and a district campus site that will accommodate two high schools and a recreation centre.

So far, seven new show homes have been constructed in Rosenthal and additional single-family show homes are on the way and expect to be open in spring 2014. Look Homes Master Builder, Daytona, Western Living and ReidBuilt are building single-family homes with front attached garages. Lincolnberg, Encore Master Builder and Landmark Legacy are building duplexes and single-family homes with a back lane.

Carrington Communities, Daytona Homes, Parkwood Master Builder, and Homes by Avi are building a variety of multi-family products and should have show homes open in 2014. The prices range, depending on size and location of the home.

On this hot summer afternoon, the community is buzzing with activity. Birds chirp above the construc-


Fast FactsArea: Rosenthal in west EdmontonDeveloper: Melcor DevelopmentsBuilders & Prices: Laned – Encore Master Builder, Landmark Group,

Lincolnberg Master Builder with prices starting at $383,500 Single-family – Daytona Homes, Western Living Homes, Look Homes Master Builder Inc., ReidBuilt Homes, Dolce Vita with prices starting in the low $400,000s Duplex – Encore Master Builder, Landmark Group, Lincoln-berg Master Builder, Daytona Homes, Look Homes Master Builder, Dolce Vita with prices starting in the low $300,000s

Multi-family – Carrington Communities, Parkwood Communities, Daytona Homes, Homes by Avi with prices starting in the $180,000s

Hours: Monday to Thursday from 3 to 8 p.m., weekends and holidays noon to 5 p.m.

Web: www.LiveRosenthal.com

tion crews crafting homes for future residents and flags along the main entrance to the community softly flap in the gentle breeze. Although Rosenthal has just started to bloom, Monson says the response to the community has been great so far. She has no doubt it will be a sought-after area, if it isn’t already.

“The community is really starting to come together and the heightened architectural controls really make it stand out,” she says.

Homes are now available and lots can be purchased through one of Rosenthal’s builders. More products will be brought on this year.

Melcor Developments is a family-owned business that has more than 80 years of experience in Alberta. For more information about the community visit www.liverosenthal.com. n

| Advertising cover FeAture |

Rosenthal has it allStop to smell the roses Melcor has based its community theme on

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CONDO PROFILE

IconIc lIvIngLocation: This condo has it in spades



By Kate Hamilton

IconIc lIvIngSituated on 104 Street, just north of Jasper Avenue,

the Icon II’s 147-unit condominium complex looms 35-storeys above the heart of downtown Edmonton. On the outside, its modern façade juxtaposes the old-world charm of the streets below. Inside, spacious

suites offer the ultimate in comfortable living.The Icon II, which makes up one half of the Icon Towers project

as the Icon I is located next door, is a chic choice for homebuyers in Edmonton. A spokesperson from Langham Developments Limited says a large percentage of the units were sold even before construction commenced in 2007.

Now, just a few units remain available (approximately seven at press time), waiting for discerning buyers with city living in mind.

Each suite has either one or two bedrooms (some of the two-bedroom units also have the option of a den) ranging in size from 780- to 2,000-square-feet. There are no new one-bedroom units still on the market, but the remaining two-bedroom units are priced from the low $400,000s (from there, the price climbs with condo elevation, all the way up to the penthouse).

Larger suite sizes and a central location mean the Icon II has attracted purchasers from all walks of life — young professionals

and families to investors.“Prices are quite

reasonable for the location,” Langham’s spokesperson says. “It’s an attractive option for young people, on a hip street.”

Every unit features luxury finishes as standard, including granite countertops, stainless steel appliances (including in-suite laundry), and engineered hardwood throughout.

The standard package is very attractive in itself but purchasers also have the option to pay for finish upgrades.

Indisputably, one of the Icon II’s defining features is the view. Every suite has one balcony, some have two, and they’re designed with the view in mind. Residents can enjoy the sunset, observe the river valley or spot the northern lights from their living room, depending on the outlook.

Each unit is also assigned at least one titled and heated underground parking stall. For those who don’t have a car (or just don’t want to use it), will find easy access to the Bay Street LRT station directly across the street for a convenient commute to work or the University of Alberta.

The suites have everything you could need in a home and Langham Developments has made an effort to keep costs as low as possible, both purchase prices and monthly condo fees. The units are built efficiently and sustainably and because of the location there is no need for additional amenities within the complex, which would require costly cleaning and maintenance.

“It’s close to local community amenities,” says Langham Developments’ spokesperson.

Some of those “community amenities” include, the Don Wheaton Family YMCA, Beaver Hills House Park and City Centre Mall, all minutes away by foot! Not to mention the countless restaurants, cafes and independent retailers nearby.

The units are built efficiently and sustainably and because of the location there is no need for additional amenities within the complex ...

»

CONDO PROFILE


The Icon II’s doorstep comes to life on Saturdays in the summer as local vendors and shoppers flock to 104 Street for the downtown Farmers’ Market. And in the not too distant future, the new arena will be built just a few blocks to the north as part of the city’s plan to revitalize the downtown core.

Langham Developments prides itself on being a reputable, local builder with a presence in the Edmonton community since 2003. The popularity of the Icon Towers has led to the creation of Fox Towers one block north. Sales have launched and construction has commenced on the 142-suite Fox One, featuring one, two and three bedroom units. The price point will be slightly lower than the Icon II, with two-bedroom suites starting in the mid $300,000s, and completion is expected in 2015. n

Fast FactsDeveloper: Langham Developments LimitedProject: Icon IIStyle: Apartment-style condominiumsSize: 780 to 2,000 sq. ft.Price: Two bedrooms from low

$400,000sHours: By appointment only

(call 780-461-4266)Address: Jasper Ave. N.W. and 104 St. N.W.Web: www.theicon.ca

... the new arena will be built just a few blocks to the north as part of the city’s plan to revitalize the downtown core.

CONDO PROFILE

The Icon towers in downtown Edmonton

By Heather McIntyre

Stable SabalGet attached to Hawks Ridge’s homes

One commonality found throughout the Sabal Homes’ attached show home in Hawks Ridge is just how uncommon so much of it is.

“Our attached homes are unique in that they’re so well-planned, open and bright that they feel like an upscale single-family home,” says Nicole McLaws, marketing manager for Sabal Homes.

The builder has had success with this style of home in Calgary for years, and brought it to Edmonton’s northwest community of Hawks Ridge in 2012. Area manager Micah Dueck says the homes are the “newest revelation” of the product.

“The use of space is cleverly refreshing in comparison to the traditional idea of an attached home,” Dueck says. “This is a complete departure from what has become the norm, especially here in Edmonton.”

Located in a natural area north of Yellowhead Trail on 215 Street, just west of Anthony Henday Drive, the “mountain retreat” design

of the Atwood show home definitely provides a cottage feel from the outside in.

Its curb appeal is obvious with stone-and-shake detailing, natural colours, staggered roof lines and an oversized, covered front porch.

Inside, the focus is on autumn colours — chocolate brown, burnt orange, evergreen and deep red — alongside materials such as slate, tweed, distressed wood and leather.

Walking into the 1,464-square-foot show home, one comes across an open-concept floor plan with nine-foot ceilings that’s perfect for both family life and entertaining.

There is a separate foyer, which is spacious and private, followed by a living room, dining room and kitchen that flow into one another. There is also an L-shaped built-in desk and cabinetry off the living room that shows as a perfect home office.

sHOW HOME PROFILE


At the back of the home there is a half bath and walk-in pantry off the kitchen, and a mudroom that leads out to a back deck.

Getting a good view of outside will not be an issue considering the home is chock-full of windows of all sizes. “We rarely allow one window to create the light in the space,” Dueck says. “We enjoy a communication between windows. So regardless of time of day, one can appreciate the glow of natural light.”

Two bedrooms, approximately nine feet by 10 feet each, are found at the top of a staircase, complete with bi-fold closet doors.

Further down the hall, second-floor laundry is on offer next to the bathroom.

Inside the master suite, a tray ceiling gives the room a grand feel, Dueck says.

Other standard features of the show home include a high-efficiency hot water tank and furnace, full-height kitchen tile backsplash, window blinds, stainless steel Whirlpool appliances and more. But there are “virtually limitless” ways to upgrade and personalize the homes, Dueck says.

“This is a complete departure from what has become the norm, especially here in Edmonton.”

»

Fast FactsBuilder: Sabal HomesArea: Hawks RidgeSize: 1,181 to 1,464 sq. ft.Price: Starting in the $300,000sShow home address: 147 Hawks Ridge Blvd.Hours: Monday to Thursday 2 to 8 p.m., Saturday, Sunday and holidays noon to 5 p.m.Web: www.sabalhomes.com

sHOW HOME PROFILE

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“We have the opportunity to help our clients create something very personalized, dedicated to their sense of style,” he says.

The show home opened last fall, and those coming through it are a mix. “The thought process was that we were going to be seeing a younger demographic out here and first-time homebuyers, and we’re certainly seeing them and they’re an excitable group,” Dueck says. “But we’re also seeing a lot of people who are enjoying the idea of downsizing in a naturalistic and serene location. Our attached homes here are being appreciated by a much broader demographic than was expected; we love to see that.”

Up next for the area are single-family, front-attached garage homes, for which lots and floor plans will be released later this summer.

“Needless to say, these single-family homes will offer the same thoughtful design, contemporary floor plans and upscale appeal Sabal Homes is known for,” McLaws says. n

sHOW HOME PROFILE

The tucked-away west Edmonton community of Secord has a home for every type of buyer, including duplexes, townhomes, lane homes with detached garages and larger single-family

homes with front garages.“Secord is a little bit of everything. It has a range,” says

Scott Hamilton, Hopewell Residential Communities’ senior manager of marketing and community relations.

The community launched in 2007 and Hamilton expects two to three years worth of development left for the area that is set just off of Anthony Henday Drive — a feature that appeals to anyone in need of commuting around the city, or out of it.

Hopewell’s communities stay true to architectural styles and the developer has asked builders within Secord for nothing less than authentic design. Hamilton cites prairie, craftsman, classical and arts & crafts as home styles buyers can expect to see. “We try and create a streetscape that honours all those styles and there’s a good mix so that you don’t have much repetition on your street or on any one block.”

Hamilton believes that people buy within Secord because of the great aesthetics and architectural controls. Compared to other communities, he says, homebuyers will really feel the difference of how well the styles work together in Secord. He also stresses how much personal

By Michelle Lindstrom

go WeStEdmonton’s community of secord is a crowd pleaser

choice and definition is available to those considering a home and just how well the community meshes together with the set styles all on one street. “Secord really has a timeless quality to it in both the designs and the materials that are used,” he says, adding that the designs complement the natural elements surrounding the homes.

The community boasts three ponds, including a large, natural wetlands area with pathways along its perimeter that actually interconnect all the neighbourhood’s ponds. There are many playfields, as well, and a baseball diamond adjacent to Secord.

“It is in close proximity to Winterburn School (kindergarten to Grade 9),” Hamilton says, therefore providing nearby education for your children for many consecutive years.

There are no commercial structures within the community

COMMUNITy PROFILE


Fast FactsDeveloper: Hopewell Residential CommunitiesCommunity: SecordBuilders: Footprint Developments, Daytona Homes,

Innovations by Jayman, Sabal Homes, Jayman MasterBUILT and Prominent Homes

Prices: Townhomes and duplex homes from $280,000s; laned homes from $300,000s; front garage homes from $400,000s

Location: West Edmonton between Whitemud Drive and Stony Plain Road, just off of Winterburn Road (215 Street)

Hours: Monday to Thursday 2 to 8 p.m. (townhomes are 3 to 8 p.m.), weekends and holidays from noon to 5 p.m.

Web: www.liveinsecord.ca

but Secord is right off of Winterburn Road (215 Street), which is adjacent to Whitemud Drive and Stony Plain Road, therefore Costco, Safeway and any of the restaurants and shopping in The Grange area ( just off of Whitemud) are only minutes away, Hamilton explains.

Secord really is meant for buyers who are looking for a place that is separate from the city while also having close proximity to all the amenities mentioned above. That’s what seems to have struck a chord with buyers. “We’ve seen everything from a new buyer coming out of downtown Edmonton, looking for their first start with home ownership to families that are looking for an established home — their forever home,” Hamilton says.

“I think Secord is the place to do that and everything else in between.”

He says there has been a huge range of buyers coming not only from Edmonton but also Stony Plain, Spruce

Grove and west of the city. “They’re looking for that place that still honours that sense of nature, but is

closer to the city,” he says.The area really provides a sense of place, Hamilton says, and there is a strong community

league and there is an honest, neighbourly feel to the area.

“We’ll often see residents getting together for barbecues and kids playing in the park,” he says. “When you drive in there,

you get a good sense of community.

It’s about access. It’s about nature. It’s

about the home styles. A bit of,

something for everybody, if there is such a thing.” n

The area really provides a sense of place ... and there is a strong community league and there is an honest, neighbourly feel to the area.

COMMUNITy PROFILE

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Single Family Under $250,000sponsored by Canada Mortgage & Housing Corporation sterling Homes, Trista, Edmonton Single Family $250,000 - $280,000sponsored by CustomerInsight Daytona Homes Master Builder, Austyn II, Edmonton Homes by Avi, yorkdale, Edmonton Single Family $280,000 - $310,000sponsored by Travelers Canada Homes by Avi, Donovan, Edmonton Homes by Avi, Hawthorne, Edmonton Single Family $310,000 - $350,000sponsored by Huntwood Custom Cabinets Homes by Avi, Rosedale, Edmonton White Eagle Homes, Limestone, Edmonton Single Family $350,000 - $400,000sponsored by Avid Ratings Canada Jayman MasterBUILT, Eclipse I, Edmonton Rococo Homes, Cameron, Edmonton White Eagle Homes, sandstone, Edmonton Single Family $400,000 - $450,000sponsored by Can-Cell Industries Coventry Homes, symphony, Edmonton White Eagle Homes, sandstone, Edmonton

everyone wins!The best of the best in the industry are recognized for their efforts over the past year


The 2013 Canadian Home Builders’ Association (CHBA) – Alberta announced the Awards of Excellence in Housing finalists and we’re here to spread the word, and brag a little, because Edmonton

leads the charge with 36 finalists. The battle of Alberta continues as Calgary comes in second with 24 total finalists.

These annual awards honour leading builders and renova-tors throughout Alberta based on the entries submitted by those in the industry who are eligible to win. The total number of entries this year — 412 — was record-breaking and Jim Rivait, CHBA – Alberta chief executive officer, is thrilled to see so many builders participate in the awards. “Consumers have a wide variety of options from our builder and renovator members; and we encourage you to visit these builders’ show homes to see many of them for yourselves,” Rivait says. “We

NEWs

look forward to celebrating their achievements in Jasper when the winners are revealed.”

This year’s winners will be announced in Jasper on September 13 as part of the BUILD 2013 CHBA – Alberta Conference. Adding to the excitement is the change to the Builder of the Year Awards: the categories of large-volume, small-volume and multi-family will be recognized each with a separate award. As always, safe practices are celebrated via the Safety Leadership Award finalists, as well.

Submissions were reviewed by a cost-review committee before the 137 judges chose finalists. Those with an Edmonton-base are included in the summary of category finalists below:

Single Family $450,000 - $525,000sponsored by Calgary Herald & Edmonton Journal Kanvi Homes, Wooldridge Residence, Edmonton White Eagle Homes, Blue Pearl, Edmonton White Eagle Homes, Emilia, Edmonton Single Family $625,000 - $750,000sponsored by Aviva Canada/National Home Warranty Group Celebration Homes, Fountain Park, Edmonton White Eagle Homes, Blue Diamond, Edmonton

Single Family Under $250,000Sterling Homes – Trista

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NEWs

Estate Home $750,000 - $1,000,000sponsored by New Home Guide, New Condo Guide,Home Décor & Renovations White Eagle Homes, Blue Diamond, Edmonton Estate Home $1,000,000 - $1,500,000sponsored by Weiser Pfister Marcson Homes, Victoria, Edmonton Vicky’s Homes, Legacy III, Edmonton Multi-family Apartment Under $325,000sponsored by Trane Carrington Communities, Dali II, Edmonton Jayman MasterBUILT, Midori, Edmonton Multi-family Apartment Over $325,000sponsored by Mattamy Homes Carrington Communities, Addison, Edmonton Carrington Communities, Lammond, Edmonton Rohit Communities, Duke, Edmonton Multi-family Townhome or Duplex Under $300,000sponsored by Grant Thornton Pacesetter Homes, Affirmed, Edmonton Pacesetter Homes, Alydar, Edmonton Multi-family Townhome or Duplex $300,000 - $400,000sponsored by Lennox Industries Jayman MasterBUILT, Nitro O, Edmonton Renovation Under $200,000sponsored by Alberta Hardwood Flooring Ackard Contractors Parkview West Residence Edmonton Aquarian Renovations Laurier Heights Residence Edmonton Renovation $200,000 - $500,000sponsored by JELD-WEN Windows & Doors Ackard Contractors, Ramsay Heights Residence, Edmonton Caliber Master Builder, High Park Residence, Edmonton Renovation Over $500,000sponsored by Carrier Enterprise Canada Ackard Contractors, Riverpark Drive Residence, Edmonton Aquarian Renovations, Grand Isle Residence, Edmonton Green Homesponsored by Built Green Canada Habitat studio, Windsor Park NetZero, Edmonton Landmark Group of Builders, Chopin, Edmonton

SAFETY LEADERSHIP AwARDSsponsored by ATCO Gas

Small Employer Builder Member Parkwood Master Builder, Edmonton Region Large Employer General Member A & B Concrete Pumping, Edmonton Region Large Employer Builder Member Daytona Homes Master Builder, Edmonton Region Qualico Communities West, Edmonton Region n

* Note: Prices for the single Family & Estate Categories do not include land or GsT

Green HomeHabitat Studio – windsor Park NetZero

Multi-family Apartment Over $325,000Rohit Communities – Duke

Estate Home $1,000,000 - $1,500,000Vicky’s Homes – Legacy III


CMHC Policy most likely means higher ratesLOW INTEREST RATES have been great for home buyers and home builders. The federal government, through the Bank of Canada, has its right foot on the gas pedal keeping interest rates low to stimulate eco-nomic growth. At the same time, it is using its other foot to apply the brakes to the housing market through the Canadian Mortgage and Housing Corporation (CMHC).

At the beginning of this year, the CMHC set a limit of $85 billion in mortgages that banks could guar-antee through the CMHC’s National Housing Act Mortgage-backed Securities (NHA MBS) Program. In essence, this takes the risk of a mortgage and transfers it from the bank to the CMHC, a crown corporation. The government, worried about too much debt and too much exposure to federal coffers, is trying to limit the amount of exposure it will take on.

Running Out of RoomNot surprisingly, low interest rates mean people will still want to buy homes and to the end of July, banks had already used $66 billion (or 77 per cent) of the annual CMHC-set limit. It should be noted that this is an im-provement from 2012, which had guaranteed $76 billion by the end of July that year.

Now, the CMHC is determined to ration the remain-ing amount and is in the process of determining which banks get how much, and in the meantime, imposed a one-size-fits-all cap of $350 million per bank.

Part of the problem is that banks use this space to insure mortgages that aren’t required by law to carry insurance. If you put 20 per cent down there is no insur-ance required. Still, risk-adverse banks package these mortgages together and insure them as well.

MARkET VIEWby Wesley Gunderson

Wesley Gunderson is Vice President of Finance for Growth Marketing an Edmonton based real estate consultancy firm providing integrated marketing services to its valued clients. Mr. Gunderson has been with the firm since 1997 and actively involved in economic and market research, marketing and product strategy as well as advertising and sales promotion.

what Does This All Mean?You still want to buy that home. The bank still wants to give you a mortgage. The government may not want to guarantee the mortgage so the banks will look outside insurers to guarantee mortgages.

This outside insurance is likely going to cost more. It is expected these costs will be passed onto mortgagors. Early estimates from mortgage analysts and specialists suggest that the impact, just from this policy, could be a 15 to 60 basis-point increase in rates. On a typical $300,000 mortgage, this could mean $450 to $1,800 more in cost every year; over a five-year mortgage, that equates to $2,250 to $9,000.

ConclusionHomebuyers in the market may want to act sooner than later. It is unknown where everything will land when limits are met and banks look to outside insurers. The expectation is that this will lead to higher cost of borrow-ing. Acting now could save you thousands. n



AROUND TOWN

COHOuSING IS NOT a new idea, especial-ly in Denmark where the first attempt was made in 1964. Canada formed its own orga-nization — Canadian Cohousing Network (CNN) — in B.C. in 1992 to address the idea of cohousing communities and encourage sustainable development across Canada.

Calgary has one completed cohousing project, another underway and Edmon-ton is soon to follow with urban Green Cohousing: a society set up by a group of “dreamers” with a set vision of healthy and sustainable living, comprised of 12 house-holds as of January 2013.

urban Green Cohousing has a central-Ed-monton location in mind that will accom-modate 25 units. The final steps and secur-ing of the property are currently underway.

Ronaye Matthew, director of Canadian

Moderation is key

THIS YEAR’S THIRD-quARTER hous-ing market outlook came in from the Canada Mortgage and Housing Corpo-ration (CMHC). The main theme found was that a moderation in housing starts is expected this year due to last year’s supply levels being lifted. “By 2014, lower inventories along with economic and de-mographic growth will support a higher level of starts in the Prairie Region,” says Richard Cho, CMHC’s Senior Analyst for Calgary.

An increase in full-time employment and migration to Alberta were key factors determining the optimistic outlook that housing starts will jump from 33,800 this year to 34,400 units in 2014.

Average MLS prices in the province are expected to rise 3.6 per cent to $385,300 in 2014. Projected sales are set to rise from 2013’s 62,700 units to 64,200 units in 2014.

Back to school

RIPPLE PATEL AND Raylene Boake used six weeks of their summer break to hang out in a university of Alberta engineering lab instead. The Women in Scholarship, Engineering, Science and Technology (WISEST) is what brought the two girls, who will be entering Grade 12 this fall, into Dr. Mohamed Al-Hussein’s research lab. Al-Hussein is known for his expertise on modular construction: a system meant to eliminate waste as buildings and homes are manufactured in one location and then assembled in another.

Patel spent some of her lab time translating a house plan that was originally drawn in 2-D software to a 3-D modelling software for Igloo Prebuilt Homes — a modularized homebuilder in Edmonton. Boake worked on reorganizing Igloo’s warehouse facility, with 3-D modelling, to improve the company’s productivity. Patel says her work helped the con-struction industry, Igloo specifically, because the ability to walk-through a home using the 3-D software allows builders to fix any errors before they are on site, saving time, materi-als and money. “It would be such a headache to find out those errors later on,” she says.

Patel and Boake visited Igloo’s warehouse and a job site to see a prefabricated home delivered and assembled to see how simple it was. “Making an entire house in a con-trolled factory setting, it’s just a matter of lifting the finished product using a crane and putting it on site, I’ve never thought about that,” Patel says. “It’s just so much more efficient.” The average time she was told it takes to order and place a prefabricated house on site is one and a half months.

keep your feet grounded

EDMONTON’S DOWNTOWN CORE was the launch pad, for three “base”jumpers (those who jump off a fixeditem, like a building, and use a parachute to break their fall). Early this August, as three people and their parachutes were seen in silhouette by on-lookers around the 36-storey Pearl Tower condocomplex on Jasper Avenue. The toweris under construction with plans to open late in 2014, and therefore was not open for the general public to wander. This stunt has become a police investigation due to the lack of permission to enterthe site.

The event resembles one back in 2011 when three men did a base jump off of the new Epcor building that was still under construction at the time. n

Get cosy

Cohousing Network, says, “the individual homes are completely self contained with their own kitchens, but also share exten-sive common amenities, which support connection with neighbours and contrib-ute to the homes being smaller without negatively impacting lifestyle.” Cohousing residents help plan, design, manage and mainten the community.

North America currently has more than 100 new cohousing communities that are in various stages of development.

Ripple Patel

Photo courtesy CNN

CITY OF EDMONTON MAP

INNER CITY

CONDO PROPERTIES1. Aurora2. serenity3. Axio Parkland4. Mosaic Meadows Parkland5. Windermere Village6. Macewan Gardens7. sandstone at Walkers Lake station8. Aspen Meadows9. Meridian Plaza10. The Corners11. Griesbach Wood II12. Griesbach Wood III13. Carlton Villas on the Lake14. Trails of Millcreek15. The University Brownstones16. Century Park17. Hollick Kenyon Pointe18. Evergreen Community19. Maple/Oak Ridge Community20. The Esates of Upper Windermere21. The Ion22. Grand scala23. Heritage Landing24. 12th street station25. Mosaic Town square26. Mosaic summerside27. Axio in Parkland28. stone Pointe29. Aspen Meadows30. Walker Lake Landing31. Rutherford Landing 32. Fox One33. Fuzion

NEW HOME LISTINGS1. Walker Lake Estates2. Lewis Estates3. secord4. Parkland5 The Hamptons6 Copperwood7 south Hamptons8. The Properties of Donsdale9. Cameron Heights10. Terwillegar Towne11. south Terwillegar12. Palisades13. Upper Windermere14. Windermere Ridge15. Ambleside in Windermere16 Rutherford17. Callaghan18. Walker Lakes station19. Lake summerside20. Ellerslie Heights21. Tamarack22. Griesbach23. Fields of summerside24. Allard in Heritage Valley25. Tuscany Hills26. McConachie Landing27. McConachie28. Laurel29. Ravines of Richford30. Trumpeter at Big Lake31. Axio summerside32. Touchmark33. Hawks Ridge at Big Lake34. Woodhaven – Edgemont

LEGEND

29

shopping Centre

Points ofInterest

Hospitals Colleges/Universities


ADVERTISERS INDEX


ATCO Gas Page 16 www.atcogas.com

Brookfield Homes Page 17 Mosaic Townhomes www.buildwithbrookfield.com

Carlisle Group Page 13 Elements II www.elementscondos.ca

Hunter Douglas Page 22 www.hunterdouglas.ca

Lincolnberg Master Builder Page 2-3 www.lincolnberg.com

Sabal Page 32 www.sabalhomes.com

Tamani Communities Page 4 Southfork Leduc www.symphonyliving.ca

Walton Development Page 7 Hawks Ridge www.hawksridge.ca

Walton Development Page 31 McConachie www.mcconachie.ca

Walton Development Page 24 Woodhaven www.woodhavenedgemont.com

EDMONTON AND AREA MAP

CONDOS1. Lakeview Estates2. sierras of Inglewood3. Grande- Mission Hill4. Tenor

NEW HOMES1. Northern Lights Estates2. Erin Ridge3. North Ridge4. Tuscany Hills5. The Crossing at River’s Edge6. The Manors of Oakmont7. Regency Heights Estates8. Kingswood9. Greystone Manor10. Pinnacle Ridge Estates11. Riverstone Pointe12. The Banks of sturgeon Valley

CONDOS1. Laredo On The Park2. station 333. stony Village4. Graywood Terrace5. Cedar Brae6. Urbia Place

NEW HOMES1. stony Village2. Brookview3. Graybriar4. The Fairways5. Willow Park6. Lake Westerra7. stellar Homes

CONDOS1. Parkland Village2. Fairway Eight3. Harvest Ridge4. Nova Ridge Villas5. spruce Ridge Manor6. The Pointe7. Kingstreet on Park

NEW HOMES1. Jesperdale2. stoneshire3. Harvest Ridge4. Deer Park Estates5. Hilldowns6. spruce Village7. spruce Ridge8. Hawthorne at Heatherglen9. springate at spruce Ridge10. Legacy Park11. Lakewood


NEW HOMES1. Deer Valley2. West Haven3. Bridgeport4. Aspen Creek5. suntree6. Windrose7. southfork8. Tribute9. Meadowiew Park

CONDOS1. Brooklands at Bridgeport2. Ravine Villas3. Urbia Manor4. Urbia Green5. The springs at Bridgeport

CONDOS1. Village Champlain2. Maple Brooks Villas3. La Rose

NEW HOMES1. Village Champlain2. La Rose3. Grandin Park Close4. Notre Dame Estates5. The Lakes

CONDOS1. Riverview Estates2. Fort Gardens3. Walnut Grove

NEW HOMES1. Valley Pointe Estates2. Forest Ridge in West Park3. Westwood Trails4. West Woodlands5. southfort6. southpointe7. sienna

CONDOS1. Pallisades on the Ravine2. strathcona Village3. Crystal Estates4. Axxess5. summerwood Greens6. Maple Ridge & Oak Ridge

NEW HOMES1. strathcona Village2. Aspen Trail3. summerwood4. Lakeland Ridge5. Clarkdale Park6. Foxboro7. Willow Ridge/The Ridge8. sherwood Hill Estates9. Balmoral Heights10. Fountain Creek Estates11. sherwood Golf & Country

Club Estates

CONDOS1. Coventry Homes2. The Village at Beaumont3. Beausjour4. Montrose View5. Giselle Valley Manor

NEW HOMES1. Coloniale Estates2. Montalet3. Citadel Ridge4. Eaglemont Heights5. Montrose Estates6. Westbrook7. Four seasons Estates8. Goudreau Terrace9. Triomphe Estates10. Beaumont Lakes11. Place Chaleureuse12. Beau Val


Mr. Melonhead’s wild ride

tales from the condo zone

By Jim Zang

FEATURE

Illustration byAinsley Ashby-Snyder

If you’ve lived in a condo, or know someone who has, then you’ve probably either seen or heard your fare share of amusing stories about living in a condo-minium in Alberta.

Being in charge of Calgary Condo Living magazine for the past nine years, I’ve heard a few good ones myself. And, of course, a couple of my key industry contacts with their own condo management companies have heard and seen it all. The names have been changed to protect the guilty, and my sources wish to remain anonymous for both professional and personal reasons, but the stories are true.

So, without further adieu, here it is, this month’s edition of ‘Tales From the Condo Zone’.

This time out, I’m not so sure. Call me skeptical. It’s the journalist in me. My source swears it’s true, and it sounds plausible, although extremely silly, but I’ll let you be the judge.

This tale comes from the developer of a downtown condo that was home to some to some high-rise hijinx. Seems the building was finished but a couple of the upper floors remained vacant while the finishing touches were

put on some of the suites. Security cameras had not yet been installed in the hallways on those floors. Which, after a couple of wobbly pops, was all the invitation, apparently, some person or persons needed to commit their heinous act of meloncide. I don’t know how else to describe it. “They had taped a wig and sunglasses on a watermelon, drawn a face on it, and put it down the garbage chute from the 23rd or 24th floor.”

“And they would have gotten away with it, too,” says my friend. Except, like many doers of dastardly deeds, they stuck around to watch the fruits of their efforts. In this case pun intended. They went downstairs to the dumpster to see what damage poor Mr. Melonhead had incurred after his impromptu turn as some kind of garbage chute crash test dummy. As it turns out, the security cameras in the dumpster area were working just fine and all three melonheads, two of the human variety, were captured on camera. The result? A stern talking to by the developer, a memo to all residents from the condo board about appropriate use of the garbage disposal chute … and the beginnings of a great fruit salad. n

edmonton home & condo living sept 2013

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