Nav Basi

Worth the wait

Buyer opts for a new-build condo in Calgary’s desirable Beltline

Nav Basi knows real estate: it’s what he does for a living.

This 41-year-old entrepreneur and real estate investor lives just north of the city limits, on an acreage adjacent to Cross Iron Mills. He’s young and single and considering shifting lifestyle gears, from country-living to inner-city hip.

With that in mind, he made the decision to purchase a one-bedroom condominium at Park Point, a 34-storey condominium tower close to the city’s core, overlooking Memorial Park. He purchased for investment purposes and plans to rent it out with eye to potentially using it as a future residence for himself.

(more…)

Read More

Fringe benefits

Suburban condos appeal to those looking for good value

After renting a condo in Marda Loop for the past ten years, Kerri-Lyn Ouellette is moving: She’s buying a condo in the suburbs. Her choice? Hopewell Residential’s Sandgate development in Mahogany.

“Marda Loop isn’t affordable for a single woman with a middle income. Condos in the suburbs, however, are affordable,” said Ouellette, adding that Sandgate condos start in the $190s range.

Ouellette says market conditions played a primary role in her decision to buy now.

(more…)

Read More

Thinking inside the box

Local company eyes future shipping container developments in Calgary

They travel across the ocean from Asia all the way to Canada and, until recently, these steel shipping containers were considered surplus.

If a local company gets its way, however, these re-purposed shipping containers could provide part of the solution to affordable and special needs housing demands in Calgary.

“We are currently looking at a couple of different projects in Calgary,” said Rhys Kane, director of business development for Ladacor Advanced Modular Systems. “They would be multi-family apartments and seniors’ independent-living projects of six- to eight-storeys.”

(more…)

Read More

Socialize with trees

Beyond beautification, trees provide a bevy of benefits for urban dwellers

Even before the turn of the century, early civic leaders envisioned Calgary as an urban oasis, with broad tree-lined streets connecting numerous parks. In 1894, the City of Calgary started planting trees along major boulevards in the city, beginning the effort to create an urban forest that continues today.

But aside from beautification, what’s the point of an urban forest?

(more…)

Read More

Suburban financial market faces significant challenges

Record vacancy rates predicted to trend upwards

Commercial real estate felt the pinch of a slumping economy in 2016 and Calgary’s suburban office market was no exception.

From headleases – between a landlord and a tenant – to subleases – where a tenant puts some of their excess space on the market – commercial real estate outside the core had its challenges.

“A significant amount of very, very large blocks of vacancies are available on the sublease market and the headlease market, for that matter, and we have not seen a great number of tenants going in to take those spaces,’’ said John Savard, principal, office leasing specialist with Bedrock Realty Advisors Inc.

(more…)

Read More