Local competition to spur creative thinking for underutilized Calgary areas

A local non-profit association is holding a competition in the hopes the lost becomes found again with some of Calgary's less attractive spots.

The Lost Spaces competition – held by d.talks, a grassroots organization dedicated to "fostering collaborative and engaging public conversation about design and the built environment" – is a call for architects, artists, designers, engineers and students to come up with ideas to enhance "under-utilized" pieces of Calgary's urban environment.

"Lost spaces are kind of complicated spaces. They're the kind of remnants ... they're often fairly underutilized and they're complex in the fact where they're situated, how they're situated, in the urban environment," said d.talks co-founder Amery Calvelli.

Swings in economy are to be expected

Last week, the Bank of Canada surprised some Canadians when it lowered the overnight lending  rate from one to 0.75 per cent.

However, the decision to lower interest rates should not have been as big of a surprise as it was, nor should the fact that the banks have failed to lower their respective prime rates.

On the day before the rate drop, I told two separate groups of real estate investors – totaling 60 people  – that, in my opinion, there was as good of a chance that rates would decrease as there was they  would increase. The next morning, the Bank of Canada proved me right.

The Bank of Canada surprised many Canadians last week when it reduced the overnight interest rate from one to 0.75 per cent.

Bank of Canada governor Stephen Poloz cited plummeting oil prices as motivation behind the drop, which represents the first time the bank has changed the rate since September 2010.

"The drop in oil prices is unambiguously negative for the Canadian economy," he said.

"Canada's income from oil exports will be reduced, and investment and employment in the energy sector are already being cut."

Attainable Homes Calgary Corp. president David Watson talks new developments and more

Buying a home just got a lot easier for some Calgarians.

Local builder Partners Development Group has committed 10 per cent of its upcoming multi-family homes developments to Attainable Homes Calgary Corp. (AHCC). AHCC is a non-profit organization delivering entry-level homes for Calgarians caught in the affordability gap. Those who qualify can get into the market with a mortgage pre-approval and only $2,000 down.

"We work with AHCC as a way to give back to Calgary, helping more middle-income Calgarians get into home ownership through this socially responsible program," said Greg Gutek, Partners Development Group president and founder. "We're looking at our future Calgary developments to see how we can adjust the design and density to include more attainably-priced homes."

The Qualex-Landmark Group of Companies has announced it's building a seventh condo development in the Beltline.

The group has acquired the 0.3 hectare site at the corner of 11th Avenue and 12th Street S.W. In the last 10 years, Qualex-Landmark has $370 million in real estate sales and 1,000 units built or under construction in the Beltline community.

"The urban lifestyle is becoming increasingly attractive, with walkability and the convenience of access to amenities," said Mohammed Esfahani, president of Qualex-Landmark. "We are achieving success by tapping into the growing trend of new urbanism as an increasing number of Albertans opt for downtown living.

Cochrane saw an increase of 5.27 per cent in its residential property value in 2014.

A release from the town said property values reflect the national trend of 5.9 per cent, though increases vary depending on property types. Single-family dwellings increase 6.32 per cent, duplexes and row houses increased 7.41 per cent and condos increased 1.98 per cent.