New homes in West Calgary are expected to have strong consumer appeal
Aleem Dhanani knows the land development industry, particularly on the west side of Calgary, where Bri-mor Developments has been working for the past decade.
But he also knows the value of forming strategic partnerships. As managing director of the family-owned 25-year-old Bri-mor Developments, Dhanani wasted little time in recruiting Albi Luxury by Brookfield Residential, Cedarglen Homes, and Streetside Developments as builder partners in Bri-mor’s latest residential development, which is reshaping the west-side community of West Springs.
Streetside is expecting possessions to begin March 20 on 24 homes in the first phase of Vivace at West 85th that consists of 54 condos and four townhomes, and is planning to launch presales for the second phase of 70 single-level condos and seven two-level penthouse condos in April, according to Richard Daley, vice-president of development for Streetside.
“While presales will begin next month, construction of the second phase isn’t scheduled to begin until this fall,” he added. On March 11, Streetside will open a brand new show suite in the first Vivace building that is accessed from 8A Avenue S.W. east of 85th Street S.W.
A few blocks east of Vivace, Albi and Cedarglen share the 200 lots that will create the semi-estate neighbourhood of The Rise at West Grove Estates, an extension of Bri-mor’s existing West Grove Estates, which is located down Wentworth Drive along 11th Avenue and east of 85th Street and Bow Trail S.W.
“As a partnership, we provide what we think matters most to people in terms of quality housing, amenities, ample green space and lifestyle – all at an affordable price,” said Dhanani from his offices in the 140,000-square-foot West 85th retail/commercial/residential complex developed by Bri-mor.
As a partnership, we provide what we think matters most to people in terms of quality housing, amenities, ample green space and lifestyle – all at an affordable price.
The first phase of The Rise has 111 fully-serviced lots and is on track for a grand opening of show homes at the beginning of April. In The Rise, two-storey homes with a minimum of 2,000 square feet, and bungalows with a 1,250-square-foot minimum, are priced from the low $700,000 range. The one- and two-bedroom units in Streetside’s Vivace range from $280,000 to $600,000.
So where is the concern about the impact of the economic downturn on housing?
Dhanani says there may be some hesitation in the marketplace, but there continues to be strong interest in the pair of ongoing developments.
“People are making prudent buying decisions these days with the economy the way it is, but there is still a good-sized pool of buyers out there – and they are looking to make a value-based purchase,” he said. “And, there is a certain feeling of vibrancy about living on the west side that continues to attract people.”
The west side of Calgary has long held a strong consumer appeal, providing what Dhanani calls an “inner-city lifestyle” just 15 minutes from downtown.
“We’ve had strong interest and have accepted deposits from people who recognize the value and quality our builders bring to the table without the benefit of show homes, as well as the natural amenities we offer that appeal to their lifestyles,” said Dhanani. “We are expecting a quick absorption of our first phase.”
Cedarglen Homes president Howard Tse says he’s excited to be back working on the west side after earlier successes.
“The west-side location made sense as it is an area of the city we believe in despite the economic climate,” he said, adding that being part of an experienced partnership will also be beneficial.
Allan Klassen, senior vice-president of Alberta housing for Brookfield, says Bri-mor shares its values and commitment in building an exceptional community.
“Their vision of creating a luxury enclave that provides excellent value in one of the most attractive, high-demand areas of the city has provided a great opportunity for the partnership,” he said.
Streetside’s Daley echoed the comments: “This is a key partnership between companies that share a passion for providing uncompromising value for Calgarians in the most accessible and amenity-rich locations.”
In addition to The Rise at West Grove Estates, Bri-mor has completed two other residential developments on the west side – West Grove Estates, and Aspen Cliff Estates located near Webber Academy – bringing its single-family lot portfolio to approximately 500.