If you follow the stretch of the Elbow River that runs from the Glenmore Reservoir all the way to the downtown core, you’ll come face to face with some of Calgary’s swankiest addresses. Bel-Aire, Britannia, Elbow Park, Eagle Ridge and Roxboro topped the luxury charts in 2018 when it comes to average home sale price. CREB®Now chatted with Sam Corea, luxury specialist with RE/MAX House of Real Estate, to find out what makes these top luxury communities so desirable.
*Listed dollar figures are 2018 average residential sale prices, courtesy of CREB®. Photos courtesy Sam Corea and CREB®Now Archive.
Bel Aire – $2,318,929
Topping the charts when it comes to average home price in 2018, Bel-Aire also takes the cake for exclusivity. Here, you’ll find wealthy jetsetters looking for a place to get away from it all. Large lots, sweeping forests (it borders the picturesque Calgary Golf and Country Club) and wide side yards provide maximum privacy for residents, many of whom are second-generation owners.
“This community is all about understated elegance. It is a very quiet wealth community and most people don’t even know it exists,” said Corea. “If you want the best lot in the city, on the ridge, this is the place to be.”
Britannia – $1,994,794
One of Calgary’s most coveted communities, Britannia is no stranger to uber-luxury designs – just take a drive through the tree-lined streets. Here, some of the city’s best examples of mid-century modern architecture rub up against brand-new, ultra-contemporary mansions, while closer to the river and the winding entrance to Stanley Park, 1920s-era Craftsman homes create a stately atmosphere.
“These are very special lots and there is still a huge demand for the right lot,” said Corea. “Land values have not gone down. People are buying, tearing down and building their dream home here.”
Elbow Park – $1,712,997
Six years after the 2013 flood decimated this riverside community, Elbow Park is once again thriving and commanding stellar prices for its homes. Tree-lined streets, a connected sense of community and a bevy of young professionals make this a hip and happening area, not to mention its walkable location close to the Glencoe Club and the pathway system.
“Obviously, the flood devalued these properties, but every year, pricing has increased, and people are now feeling more confident to invest in this location,” said Corea. “Household average income is very high in this community and the Elbow Park School is really the main driver.”
Eagle Ridge – $1,485,000
Large lots and ample privacy in a secluded location are big draws to this southwest community that borders Heritage Park Historical Village and Rockyview General Hospital. Some homes in the community enjoy beautiful water views from their perch overlooking the Glenmore Reservoir.
“There is more privacy here and a little bit more exclusivity. It’s a beautiful community that holds appeal for doctors working at the Rockyview,” said Corea, adding that in the last 10 years, the area has been a hotbed for real estate redevelopment due to its ample lot sizes.
Roxboro – $1,420,000
Bordered by the Elbow River to the north and west and St. Mary’s Cemetery to the east, Roxboro is a tight-knit collection of 153 residences. Often mentioned in the same breath as its neighbour, Rideau Park, community life here revolves around the highly regarded Rideau Park School.
Roxboro’s home designs include 100-year-old Classical Revival architecture, charming Craftsman cottages and modern art forms. The area offers a tranquil, natural setting in the heart of the city, just steps from the bustling bars, restaurants and cafés of Fourth Street S.W.
“The walkability factor is one of the best in the city,” said Corea. “Fourth Street has some amazing shops and restaurants, plus the river is a really big pull.”