Seniors' groups welcome potential option to aging in place

Seniors' advocates in Calgary are cautiously praising a city council decision to look at a University of Calgary pilot project that's studying laneway housing as an option to aging in place.

In mid-May, council agreed to support a motion by Coun. Gian-Carlo Cara that would have City administration work with the university as it embarks on the next phase of its Aging-In-Place Laneway Housing project.

Kerby Centre CEO Luanne Whitmarsh called the idea, "a really interesting concept," but added more study needs to be done, such as ensuring that, "it isn't just going to make more isolation.

"Also, what does it look like? If (seniors) still need support and there are people entering the home instead of a grassy front yard, it's a back alley. We have to look at quality of life," she said.

CREB® chief economist walks through often-overlooked housing statistics

Months of supply is a statistic that often gets lost in today's housing market, yet it is an important indicator of the relationship between supply and demand, says CREB® chief economist Ann-Marie Lurie.

"It gives us one indication of balance in the market," she said of months of supply, which is the amount of time it would take to sell current inventory.

"If the number is really high – so you have a higher level of months-of-supply – that essentially just means that there's more supply than demand in the market and it generally correlates with declining prices in the market.

RECA emphasizes top priority is consumer protection

The Real Estate Council of Alberta (RECA) is reminding real estate professionals in the province to always discuss deposit arrangements with their clients in response to one Calgary brokerage recently closing and another one winding down operations.

The provincial regulatory body also advised professionals in the province to continue showing sellers' listings, even if they are listed by a brokerage that is shutting down, and to let buyers into their listings.

RECA communications manager Natalie Scollard said the organization's primary role when a brokerage shuts down is consumer protection.

New report paints mid-term picture

RBC Economics economist Craig Wright and Robert Hogue say the provincial recession continues to weigh on housing demand in Calgary, and such weakness is increasingly undermining prices.

In the bank's Canadian Housing Health Check released this week, the report's authors note the drop in property values has been generally modest to date; however, the pace of decline has accelerated and further downside remains.

Here are five things to know about contributors to Calgary's housing health so far this year:

Ellyn Mendham credits teaching background to industry leadership

Ellyn Mendham describes her entry into real estate as a "fluke."

Originally an elementary school teacher in Philadelphia, then Nova Scotia, Mendham's credentials did not immediately transfer when she moved to Alberta.

"I needed to work and produce an income, and at the time I thought I would go back to teaching later," said Mendham. "By fluke, I got into real estate."

But after making her first sale – a home that went for $42,000 in 1975 – she quickly realized she loved the industry.

Supply gains contribute to inventory rise in soft housing market: CREB®

Calgary's residential resale housing market continued to exhibit signs of softness last month, according to CREB®.

The real estate board noted in its most recent housing summary that inventory levels continued to rise in May due to an increase in new listings and decrease in sales.

As a result, the benchmark price in the city decreased for the eighth consecutive month to $439,700. May's price represents a 0.3 per cent decline from last month, and four per cent from last year.

For the full report, click here.

Create a back-up plan with insulating fleece

It's early spring and it seems like time to plant.

Well go ahead and shop 'till you drop. But consider holding back on planting the tender plants such as Hosta, Begonias and even Marigolds unless you have a backup plan this spring.

I'm not talking a big plan like a home greenhouse or sturdy cold-frame. The backup plan can be as simple as a few meters of insulating fleece, also sold as Reemay or spunbond polyester. This light fabric is sold in packages at hardware stores and by the meter from rolls in garden centres.

It is sold in different thickness levels and is good for different degrees of frost. Even the thinnest, lightest fleece materials will give a few degrees of frost protection, and that is what we need in May in Calgary.

Condo developers using downturn as opportunity to build

The downturn in Calgary's economy is creating a much-needed opportunity for developers to reset and plan for the long-term, say experts, who also believe the apartment-style condominium sector stands to benefit the most.

Susan Veres, senior vice-president of strategy and business development for Calgary Municipal Land Corp. (CMLC), admits sales "have slowed" in the popular East Village community on the banks of the Bow River, but also said the timing of the current downturn is "almost fortuitous" for the up-and-coming area.

"It's serendipitous that we're actually focusing on construction this year," she said, whose company, CMLC, is wholly owned subsidiary of the City of Calgary that is currently revitalizing East Village.

ARRIVE at Bowness caters to attainable housing needs

Attainable Homes Calgary Corp. (AHCC), in partnership with Partners Development Group, recently lifted the veil on ARRIVE at Bowness, a new BuiltGreen townhouse development in city's northwest.

AHCC acquired the land from the City of Calgary when the organization was created in 2009. It has been planning the development with input from local residents for several years.

AHCC president and CEO John Harrop said the project's design was inspired by its surroundings.

Film centre represents just one example of efforts to transform local economy, say officials

Film production may be the world's glamour industry, but in Calgary it is shooting to become a new driver of Alberta's diversified economy.

Last week, the $28.2-million Calgary Film Centre opened in a Calgary southeast industrial park, about 20 minutes from downtown. The new facility includes three new sound stages spread across a total of 50,000 square feet and three multi-purpose workshop spaces offering an additional 15,000 square feet.

Calgary Economic Development president and CEO Mary Moran said the film and television industry is just one sector being focused on in attempt to diversify the local economy. CED predicts it could provide an annual $500-million injection into the economy in as little as five years, compared to its $175-million share today.