For many years an acerage in Arbour Lake, NW Calgary, remained as a large private parcel of land with a private residence on scenic property. The land is now sold to Hopewell and a new development is in the works in the very popular community of Arbour Lake. Walking distance to Crowfoot shopping and the LRT, this development is one to watch.

 

Hopewell's Arbour Lake

 

The 43 Acres of land is expected to house approximately 2200 new residents in approximately 890 homes and condo units. Construction is expected to start September 2018.

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As we approach the construction season of 2017, it seemed a good time to get caught up on some of the major development and transportation projects in NW / West Calgary especially so much happening around Canada Olympic Park (COP) and the Trans Canada Corridor. This is a longer post than intended but I have so much to share with you!

 

Transportation:

You may have also noticed signage regarding some of the new communities soon to be starting construction in the area. The stages of development and detailed information vary for each site. As well, the names for some areas on the City of Calgary website differ from the advertised community or project names.

 

New Development Projects/Communities:

 

Trinity Hills / Medicine Hill / Paskapoo Slopes:
The first zone is the area in the SW corner of the Trans Canada and Sarcee Trail interchange between the interchange and COP. This area is called Medicine Hill/East Paskapoo Slopes on the City of Calgary site. The main name from a community perspective seems to be Trinity Hills. This area is currently proposed to include a supermarket, retail and residential properties.
City of Calgary: City Information for East Paskapoo 
Developer Information: Trinity Hills

 

  

Ripley Site:

Developement of the area right beside Canada Olympic Park to the east. The application is by Winsport which runs Canada Olympic Park.

City of Calgary: City information for the Ripley Site

 

Parkside / Greenbriar / Greenwich:
The second zone is the area on the NW corner of the Stoney Trail and Trans Canada interchange between the interchange and Bowfort Road. This area is currently cleared on the west section and looks to be close to start of development. This area is expected to include retail, office and residential properties.
City of Calgary: City Information for Parkside (west section)
Developer information: Melcor's Greenwich Calgary

 

 

Shape / Calgary West:
This area is located just south of the Trans Canada on the east side of the community of Crestmont. The developer site notes: "This mixed-use open air regional shopping centre calls for 650,000 square feet of retail, and some 800-1,000 on-site residences."
Ciyt of Calgary: City Information for Shape 
Developer information: Shape Properties's Calgary West 

 

Loblaws / BVX Corp:

This area is located immediately southwest of the Trans Canada Stoney Trail interchange. Proposed use is 1325 residentail units, grocery store and supporting commerical, retail and office space. To be developed by Loblaw Properties West and BVX Corporation.
City of Calgary Information: Proposal Summary Only

 
Crestmont Phase 4:

To be developed by Qualico Communities. Within this space, there will be approximately 516 dwellings ranging from single-detached, semi-detached and townhouses.
City of Calgary: City Information for Crestmont Phase 4 

 

Bearspaw in Haskayne:
The Haskayne Area Structure Plan was approved in 2015. This covers the area south of Tuscany, north of the reservoir and west to Rocky View County.
City of Cagary: City Information or Haskayne 
Developer information: Brookfield's Bearspaw

  

University District:
A unique development located surrounding the Alberta Children's Hospital and west of the University of Calgary. Numerous residential projects will be developed in this large project. A unique difference in our market is that University District will offer leases on parcels for a 99-year term. The conclusion of this term will either see an extension of the lease or a purchase back at fair market value.
West Campus Development Trust
Developer Information - University District Discovery Centre

 

Stadium Shopping Centre:

This area will be redeveloped by the property owners, Western Securities. Redevelopment Plan

 

Calgary is building. Where are you going to call home? Contact Monika at 403 850 2446 to help you make your best move. 

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The headlines read that the housing market is stabilizing as we enter spring. That does seem to be the case for detached homes in general and attached homes in some areas. However, it also seems to mean that some folks selling are feeling that since the turnaround has begun that prices have followed. They have not. Not yet. Inventory remains low with less homes on the market than last year with sales numbers increasing, but those overpriced homes are not selling. Pricing appropriately for today's market is key to getting your home sold, not just listed.

 

Unfortunately the apartment sector is not seeing the stabilization. As of today's numbers sales are up significantly and listings are starting to edge up. Until the supply/demand numbers are stabilized we won't see pricing stabilize in this sector especially given the volume of new construction which is not reflected in the MLS listing numbers.

 

From the CREB stats report:

 
Unadjusted detached benchmark prices totaled $503,900 in March, 0.4 per cent above last month and similar to levels recorded last year. Meanwhile, Apartment and attached prices continue to remain well below levels recorded last year.

 

The spring/early summer market is the most active in the city. Having the right strategy is key to take best advantage of this period.

 

A couple other items to note this month:

 

- If you are moving between similar priced properties in the city and you do not have much equity in your current home, please PLEASE contact your lender before you list your home. The current mortgage rules may dictate that while you qualified for the $480,000 property you live in a couple years ago, you now may qualify for less. This is very important information before you list your home.

- Developers and lot hunters are back in the market. If you are considering the sale of a lot with redevelopment potential there are strategies to improve your marketability. Contact me for details.

- There are some effects throughout the city due to the start of construction for the remainder of the Calgary Ring Road. Should you be considering neighbourhoods along the corridor be sure to review the short/long term plans so you know what to expect. Some short term disruptions in some areas, but also some amazing long term transportation and commute time improvements.

 

As always, please contact me with any questions or plans. I'm happy to help. Reach me directly at 403 850 2446 or monika@monikafurtado.com.

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Guest post by Tammie Redelback, Mortgage Advisor, MortgageLine Powered by Dominion Lending Centres

 

Thinking of buying a property, but don’t know where to start? One of the inital steps is to speak to your lender about your mortgage pre-approval.

 

The steps:
1. Get your pre-approval in place.
2. Look at property in your price point.
3. Sign an offer to purchase with a financing condition.
4. Complete your financing for a formal approval. (Usually within a few days.)
5. Complete your purchase.

 

A pre-approval is the best way to get started, but you should understand what a pre-approval is and what it isn’t.

 

What is a pre-approval?

 
- a formalized review of your financial status to give you information regarding mortgage options, mortgage rates offered to you and your mortgage maximums.
- allow you to understand all the documents you have to gather to formalize your mortgage approval. If you are self employed, new to Canada or requesting maximum amounts this paperwork can take some time.
- provide an understanding of your monthly costs so you can budget accordingly
- prove you peace of mind that you are searching for homes in the correct price bracket
- allows you to manage any issues before your dream home is on the line.

 

What is a pre-approval not?

 
-A pre-approval is not binding to you. A pre-approval is not the same as a final approval to purchase a specific property. It is not a guarantee of financing. There are a number of factors that come into play after the pre-approval is in place that can send your dreams of homeownership sideways. A couple of examples are:


• An approval requires a property to be scrutinized. Since a pre-approval cannot review the property (as you haven’t found it yet), it can’t be guaranteed the lender or insurer will approve the property.
• A secondary credit report can be pulled by the lender or insurer after the pre-approval is in place, if there are discrepancies, or your credit history changes they could decide not to proceed with financing.
• Mortgage rules can change and sometimes come into effect with no grandfathering.


If you make a large puchase, finance a car, change jobs, add significant funds to your credit card or fail to make regular payments on your accounts between pre-approval and purchase, you may be jeopardizing your formal approval for your home purchase.

 

So if things change why get a pre-approval?


A pre-approval is simply a formalized gathering of your information, and reviewing it. It won’t guarantee you will get the mortgage, but it will certainly uncover any major obstacles that might be in your way. Consider a pre-approval a pre-screening, where we take a look at your employment, credit history, your down payment, and figure out the maximum mortgage amount you can qualify for. Mortgage professionals that do a more thorough pre-approval verification are able to determine where you might get flagged by lenders and how and what to submit in order to satisfy lender mortgage requirements.

 

A pre-approval usually comes with a rate-hold, which is a good thing. Rates fluctuate and go up and down from time to time. Lenders will typically offer a rate hold for 90 days on a specific mortgage term. This means that if you find a property to buy in the allotted time, even if rates have gone up, you will get the rate that was guaranteed. If rates go down, you get the lower rate. It’s a win win.

 

The Process:

 

Buying a home is a process, a process that has a lot of steps that come into play. A pre-approval is one of the first steps you take. A pre-approval allows you to collect all your documentation ahead of time, handle any obstacles that may come up, have a look at your mortgage options, secure a rate hold, and will give you peace of mind as to the next steps in the process. Regardless if this is your first time buying a place or your tenth, a pre-approval is the best place to start.

 

For more information regarding your next preapproval contact:
Tammie Redelback, Mortgage Advisor, MortgageLine Powered by Dominion Lending Centres
Phone: 403.816.0218
E-mail: tammie@mymortgageline.ca
Web: tammieredelback.ca; mymortgageline.ca

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Centrally located in Evanston within walking distance to schools, shopping and local parks, this modern and exceptionally cared for home is move in ready. The open concept main level with large windows, hardwood floors and great sight lines takes advantage of light and flow and highlights the kitchen with tall dark cabinets, granite counters, stainless steel appliances, sparkling tile and lighting accents. Tucked behind the walkthrough pantry is the main floor laundry/mud room and powder room. Upstairs offers 3 large bedrooms including the master bedroom and ensuite with master bath including separate tiled shower and large tub and the main bath. The other two bedrooms are well sized. Just down the hall is the bright bonus room for family fun. The landscaped and fenced backyard backs to a community pathway. Double attached garage. Unspoiled basement. Extended structural warranty to 2024 with Alberta New Home Warranty. Call for your private showing today.


View all photos and details for 221 Evanspark Gardens NW



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