Calgary city council votes unanimously for East Village development

In a rare move, all 13 members of Calgary's city council agreed to approve a once-controversial "carless" condo development in the East Village.

Located directly east of the old St. Louis Hotel, N3 is set to include 167 units that developer Knightsbridge Homes says are priced $70,000 less than comparable developments because of the lack of a parkade.

N3 buyers will get a furnished unit, as well as a free bicycle and $500 Car2Go credit.

"Everybody thought we were nuts," Knightsbridge president Joe Starkman said about the carless development. "There is a market out there for young people; the car just isn't a priority."

Calgary demographics influence housing

Calgarians, characterized in a recent report as among the youngest in Canada, are altering the city's housing landscape through a unique set of needs and wants, including a more diverse rental market, work/live spaces, home offices and multi-generational housing.

In its recently released The Changing Face of Calgary report, Urban Development Institute – Calgary and the Canadian Home Builders' Association – Calgary note the median age in Alberta (major urban centres) is a nation-low 36.5 years, and as the "population bulge trends toward youth, housing needs shift."

City's multi-family mandate for recycling drawing nearer

The City is urging landlords to start thinking about recycling sooner than later as the deadline nears for new mandatory recycling rules in multi-family units.

"What we're trying to do right now is encourage all the building owners or their designated management group to find a recycling option for their residents that works best for them and their building type," said Parnell Legg, waste diversion specialist with the City.

Improving inventories help ease price growth pressure

Calgary's residential resale housing market posted relatively strong November activity reaching 1,782 units, a three per cent increase over the previous year, and nearly 13 per cent above long term averages.

"Relative to other major centres, economic growth in Calgary remains one of the strongest in the country," said CREB® chief economist Ann-Marie Lurie. "Employment opportunities and relatively higher wages have encouraged people to move here, supporting the demand growth in our housing sector."

Meanwhile, new listings growth continues to outpace the gains in sales, supporting a 22 per cent year-over-year rise in November inventories to 3,849 units. While inventories have recorded significant gains, they remain below long-term averages for the month.

Calgary's multi-family sector continues to surpass single-family growth

It's déjà vu for Calgary's condominium market, which is on pace to outperform the city's single-family homes sector in sales growth for the second consecutive year.

After the first eight months of the year, condominium apartment and townhouse sales have totaled 3,388 and 2,685 units respectively, representing a combined jump of nearly 20 per cent. Single-family sales, meanwhile, have increased by a more modest 6.9 per cent.

Residents in Cochrane who live in condos, apartments and townhouses will soon have access to home recycling.

In a release, the Town is changing its Waste Management Bylaw to include multi-family complexes.

"The revisions to the bylaw help multi-family complexes include recycling in their waste service," said Sharon Howland, manager of waste and recycling. "It's about making it easier for people in Cochrane to recycle, and to move us closer to the goals in the Zero Waste Framework.