Soil contamination a major hurdle for any West Village development

The Calgary Flames' season may be over, but that doesn't mean hockey talk in the city has come to a close.

In addition to fans' usual examination of how things could have gone differently, the question of where the team is going to play its home games in the not-too-distant future remains.

Part of that answer will come to light April 25 when Calgary Municipal Land Corp. (CMLC) reports findings to city council from its six-month environmental assessment of land in West Village where Calgary Sports and Entertainment Corp. (owner of the Flames, Calgary Stampeders and Calgary Roughnecks) is proposing to build the much-debated CalgaryNEXT project.

CREB®Now sits down with Calgary Transit senior transit planner Asif Kurji

Calgary's Main Streets project is back in the news, with Calgary Transit recently outlining its involvement in the City-backed initiative.

CREB®Now recently sat down with Calgary Transit senior transit planner Asif Kurji to discuss everything from how upcoming transit projects will factor into Main Streets to why he believes the city doesn't have any secrets.

CREB®Now: For those who are not familiar with it, what is Main Streets?

Kurji: The Main Streets initiative is a City initiative that is looking at 24 main streets in Calgary. The goal is to learn and understand each street, including their history and character, and then to create a strategy to enable growth along each of the main streets. Main streets provide an opportunity for mixed-use development such as residential, commercial and retail, and make a street great for people to live, work and play. Examples of main streets being look at include Centre Street N., Edmonton Trail N.E., Ninth Avenue S.E. in Inglewood and Kensington Road N.W.

Plants may not wear a watch, but they know what time it is

It's March and days are ripe and sunny enough for a patio lunch downtown. Other days bring wind and snow and winter boots out of the closet. Seriously, is there really anything a newbie gardener can do outside this early in the season?

Sarah found out by accident that there is plenty you can do early. She attempted to plant her spinach in May with her other garden crops a couple of years ago and then found out, by surprise, that spinach could tell time. Perhaps not time the way people measure minutes but certainly plant time, as dictated by the sun and the moon.

When the days got longer close to summer solstice on June 21, Sarah's spinach, barely four leaves old, suddenly bloomed and went to seed. She was devastated because spinach is one of her favorite foods and it was finished for the season before July.

Acreage living brings unique challenges and opportunities 

Frankie-Lou Nelligan is no stranger to country life. She grew up on farms and acreages before returning to that lifestyle three years ago. Even so, Nelligan still experienced some maintenance surprises when, for example, she turned on her sink taps and the kitchen filled with the odour of rotten eggs. As she discovered, she needed to "shock" the well, or disinfect it with chlorine.

"My husband is a city mouse and I'm a country mouse. If you want to live on an acreage, you definitely have to have a country mouse," says Nelligan, who along with her husband and three children, live on five acres in Springbank.

"You're responsible for a lot more on an acreage. Every year, some kind of maintenance needs to be done on the septic tank or the well."

CMHC survey paints picture of Canadians' financial health

The financial health of Canadians has received widespread attention in the media with the debt-to-income ratio reaching record levels in recent years. Despite rising indebtedness, low interest rates in recent years have kept the cost of servicing debt manageable.

To help get a handle on where Canadians debt lies, CREB®Now digs into CMHC's debt survey.

$1.9 trillion
Over the past decade, Canadian households have become increasingly indebted, with total household credit edging higher again in the third quarter of 2015 to $1.9 trillion. Mortgage credit, at over 70 per cent of total debt, was the principal driver of this increase. Between 2001 and 2011, average inflation-adjusted MLS® residential housing prices appreciated by 72 per cent.

City needs to pave the way for small housing option

If Tiny House Hunters, the compact-sized spin-off of HGTV's hit show House Hunters, is anything to go by, tiny homes may be coming to a neighbourhood near you. That is, if the neighbourhoods near you are in the United States.

Up north, however, the question of whether tiny houses will be fully embraced by Calgarians is up for debate.

With their limited size – usually around 400 sq. ft. or less – tiny houses often come at a fraction of the price of their traditional counterparts. Though prices vary from builder to builder, Kijiji listings for tiny homes for sale in the Calgary area range from about $17,000 to $39,000.

Segment rallies as overall market continues to face challenges

Once considered out for the count, Calgary's luxury housing sector has seemingly rallied, posting a double-digit sales increase so far in 2016, according to new statistics.

Home sales in the city valued at more than $1 million totalled 118 over the first three months of the year – up more than 20 per cent from 98 during the same period last year. In March, $1-million-plus sales totalled 54, up from 49 in 2015.

This comes as CREB® released its most recent monthly housing summary, showing overall sales in the city this year have declined so far this year by nearly 10 per cent.

"While the $1-million-plus segment accounts for a small share of the activity, there has certainly been some improvement in sales over last year," said CREB® chief economist Ann-Marie Lurie.

Calgarians playing a role in driving home sales outside of the city

Founded largely by intrepid pioneers who ventured west on the then fledgling Canadian Pacific Railway, Calgary is now seeing another western excursion.

With home sales in the city facing downward pressure as a result of a weakening labour market, markets west of the city – small and large – are seeing increased activity, thanks in part to Calgarians continued urge to drive westward.

From as near as the Rocky Mountains to as far as the West Coast, Calgarians are being pointed to as contributing factors in real estate markets outside of the city.

As the developer behind Canmore's Spring Creek, a $38-million "active lifestyle community" for seniors, frank Kernick has seen the impact of Calgary buyers outside of the city.

"From the demand point of view, the last three months in Canmore have probably been the strongest January, February and March I've seen in 10 years," said Kernick.

Bearspaw, Springbank appealing to a more diverse sect of buyers

Long admired for its opulence, the communities of Bearspaw and Springbank just outside of Calgary's northwest border are now attracting a wider range of buyers who are looking for a bit of everything, say industry professionals.

"Years ago, the area was big into horse culture – everyone wanted to buy a pony for their teenaged daughter. Now, it is more about organized sports, family vacations," said Jeff Neustaedter, a real estate professional whose office last year saw 35 transactions above the $1.1-million mark in Bearspaw alone, ranging from 40-hectare sites to secluded parcels.

While the area between Calgary and Cochrane has always been known for its stately homes, McKinley Masters Custom Homes owner Mark Kwasnicki noted homeowners want more these days – they want space to stretch their legs, but also to get away from the hustle and bustle of city life.

New home industry to impact inventory, prices

Homebuyers could be in for more good news over the next several months as industry experts predict oversupply from the new home industry will create more selection and overall price softness.

"With the number of units still under construction, we do expect inventories to continue moving higher in the next couple of months," said Richard Cho, market analyst in Calgary for Canada Mortgage and Housing Corp. (CMHC). "I think the impact that would have on the overall housing market and the resale market is more choice for buyers."

Cho added the number of units still under construction remains elevated, which will lead to the rise in inventory levels.