Calgary's luxury market showing staying power, say experts

A high-end fitness centre and kitchen to cater private events; a concierge service or tranquility room; a car wash and, yes, even a pet wash.

These are among the amenities today's buyers can expect with the purchase of a luxury condo in Calgary, a sector real estate experts say is showing some staying power despite soft economic conditions.

Calgarians drawn to more affordable alternative

After living in southwest communities of Midnapore and Evergreen for 27 years, transitioning to an apartment in Mission was an easy decision for Michelle Norman.

"Condo living was a very easy adjustment," she said. "I like the idea of being surrounded by a good mix of young and older residents as well as not having to worry about such things as yard work and snow removal."

Calgary's housing market continues to come of age

* Part two of three in the CREB®Now real estate news' latest series Growing Up

Calgary's increasingly sophisticated housing market is crossing a vital threshold following RioCan Investment Trust and Embassy BOSA's recent announcement of a $300-million 500-unit condo project for the burgeoning East Village, according to industry experts.

"Calgary is on the tipping point right now, with condo living becoming a more sought after alternative to suburban life," said Embassy BOSA president Ryan Bosa in announcing the new development at Sixth Avenue and Third Street. S.E. "The future of Calgary is up not out, and developments like the East Village showcase how Calgary is creating vibrant, sustainable communities."

The June floods swept away a large portion of Calgary's riverbanks, but work is underway to ensure safety and peace of mind for infrastructure and homes is obtained.

The City of Calgary has begun to assess and prioritize approximately 100 riverbank erosion sites vulnerable to further erosion should the City not put measures in place to stabilize them.