The height of luxury

Vancouver-based developer encouraged by uptick in luxury home sales

Vancouver-based developer Concord Pacific says it is encouraged by the Calgary market. Sales of its Eau Claire luxury condo tower, The Concord, have hit 67 per cent.

“It’s coming out of the ground. We’re pouring the P1 (parking) level and you have to understand that this parkade has never been done in North America by anybody. Nobody has ever done nine-to-13-foot ceilings on four levels of parkade. This is a unique situation,” said Grant Murray, senior vice-president of sales for Concord Pacific.

Murray says that coupled with the flood mitigation work that took an extra year to design into the base of the building, it was pivotal to do it right. By Easter, he says, they should be at podium level and the completion is expected to be December 2018.

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A Transition in the Making

Detached sales activity boosts February housing market

After the first two months of the year, Calgary’s detached sector continues to drive a slow transition in the housing market.

February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years.

As sales kept trending upward, detached inventory levels continued to ease in February. These conditions caused months of supply to fall to 2.4 months, putting less downward pressure on pricing.

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Buying from a builder

Buying directly from a builder has many advantages and a few potential drawbacks

Myron Hildebrand is no stranger to working with builders. His current home is proof of that experience, having hired Sunset Homes to execute the build on his semi detached space, which he intends to turn into two investment properties.

“Buying from a builder, you have so much more control over the final product,” said Hildebrand. “It’s a fun process to go through.”

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Renovate to Stay

Calgary couple renovates instead of moving and loves the result

Fifteen years ago, Glen and Janet Belbeck moved into their brand new spec home in McKenzie Towne’s Inverness area. Back then, the community sat at the extreme end of the city, with coyotes, deer and rabbits frolicking in the fields nearby.

More than a dozen years later, the couple, with two kids grown up and moved out, decided to purchase a McKenzie Lake home with their dream view of the mountains, overlooking the Bow River.

But when the economy went sideways, and their Inverness home’s outdated country kitchen failed to impress buyers who had showhomes to choose from in newer neighbourhoods, the Belbecks decided to stay put and invest in a large-scale renovation.

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Radius Rising

Condo project in Bridgeland is a welcomed sign of progress for Bucci Developments

When Mike Bucci completes his Radius condo project in early 2019, it’s unlikely to be the end of his company’s love affair with The Bridges — a redevelopment in the north inner-city neighbourhood of Bridgeland.

In fact, the vice-president development for Bucci Developments says when the City puts the remaining three parcels of land in the last phase of The Bridges on the market he will be first in line to buy.

“We’re calling the City every day telling them we’re interested,” he said. “We love Bridgeland and it’s a pretty special site.”

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