With three distinct neighbourhoods, Riversong covers 320 acres with a portion running along the south shore of the Bow River. Photo courtesy Tamani Communities.
March 30, 2017 | Marty Hope
The song of the river
Tamani Communities hopes small-town lifestyle and nature's grandeur will bring new buyers to its Riversong development
There's nothing like good economic news – and maybe a strong hint that winter is finally melting away – to draw home shoppers out of hibernation and into show homes.
Cam Hart, vice-president of Riversong developer Tamani Communities, says there is a different attitude among those visiting show homes in Riversong on the south side, within the town boundaries of Cochrane.
"We definitely see a more positive outlook going into this year than at the beginning of 2015 and 2016," said Hart. "And as the local and regional economies continue to stabilize and improve, we believe we'll see more buyers."
As a further enticement for would-be buyers, the inventory of six existing show homes – four single-detached homes by Jayman Built and Trico Homes, and two show suites in Jayman's townhome project called The Rise – will be joined by four more detached homes in what Hart calls a "once-in-a-lifetime" location backing onto the Bow River.
Already, though, Hart says sales and traffic figures are both on the upswing – the same direction as Calgary's regional economy.
"We are seeing buyers and interest from all over Alberta, but the two largest groups come from Cochrane and northwest Calgary," he said.
The opening of the first and second phases of the development came in the fall of 2008 and, going into its ninth year, Riversong continues to grow.
Given that our homes are very competitively priced with the Calgary market, combined with our locational advantages and community amenities, visitors quickly understand the great value in buying here in Riversong.
Hart says that by the time the projected 2021 buildout date arrives, the award-winning community will have 1,700 homes spread across 320 acres that includes land running along the south shore of the Bow River. To date, sales are nearing the 900 mark.
The Riversong development is made up of three distinctive neighbourhoods: the original Riversong; Riviera, at the bottom of a hill adjacent to the Bow River; and Precedence, up top on the benchlands where servicing is booked to start in 2018.
"Within these neighbourhoods, we've got a wide variety of housing available to just as wide a cross-section of buyers, said Hart, adding that a large number of residents are young families or couples about to start a family.
The townhouse condominium project, the Rise, is priced in the $280,000 range while detached homes start in the $410,000 range.
"Given that our homes are very competitively priced with the Calgary market, combined with our locational advantages and community amenities, visitors quickly understand the great value in buying here in Riversong," said Hart.
One of the few issues consumers face when contemplating the purchase of a newly-built home is selling their existing residence.
"There has been a slight increase in the time it takes for people to buy as they typically have to sell their existing home prior to purchasing. That is taking a bit longer than it has in the past," he said.
But Hart's gut feeling is telling him that in the short term, sales activity will be the same as 2016, with the possibility of a slight improvement. The big change is in the attitude of consumers given what the economy has been through for the past couple of years.
According to Hart, the strong selling point for consumers who have chosen Riversong are its natural amenities, one of which is the Bow River that serves as the north boundary of the development.
Then there is the 100-acre treed natural area that runs through the middle of the community, four kilometres of walking paths, two playgrounds, a pair of windmills that provide lighting to the park area, and views of the river valley, the Rockies, and Cochrane itself. A pedestrian bridge provides access to the town and the Spray Lakes rec centre, and there is even a high school in Riversong.
"It's no secret that the small-town lifestyle of Cochrane, and the value and lifestyle advantages of Riversong have combined to attract growing numbers of residents," said Hart.
Riversong | Surrounding Areas | Tamani Communities