Alternative forms of transportation dominates headlines in 2015

Joe Starkman was contemplating buying a car for his daughter while she attended university in Halifax. To his surprise, she wasn't interested.

"That twigged us," said Starkman, president of Knightsbridge Homes, the builder behind N3 in East Village, Calgary's first carless condo. "We started to do some research, and our research showed there's a market in that Generation Y demographic for which car ownership is not a priority.

"We're not trying to change the world, we're just responding to a world that's changing."

As city plans next phase, new study reveals light-rail transit has positive effect on property prices

Light-rail transit could boost the value of your home. At least that's the general finding of a new study from the University of Calgary.

According to new research obtained exclusively by CREB®Now and completed by Economics master's degree student Laura Dick, LRT line development has had a modestly positive effect on the price of housing located close to stations along new lines in Calgary.

"Properties within zero to 500 metres of a station saw, on average, an increase in sales price of about 1.5 per cent compared to properties that are 2,000 metres or more away from a station," said Dick, whose recently completed work is still to be published in an academic journal.

With Ward 12 Coun. Shane Keating pushing for provincial funding, Calgary's proposed Green Line is beginning to take small steps forward. Already having received a $1.53-billion commitment from the federal government, and city council already agreeing to fund their share, the push is on to get an application into the Province in time for the spring budget.

With that time fast approaching, CREB®Now digs into some of the facts and figures surrounding the proposed line.

Analysis shows inner-city real estate prices uneffected by LRT

Since 1981, the CTrain has transformed how Calgarians get around town.

Yet what impact has the city's light-rail transit system had on property values?

And do they truly become selling features when buying or selling homes?

An analysis of inner-city communities along the West LRT line, which opened in December 2012, show average benchmark home prices reported by CREB® in neighbourhoods such as Spruce Cliff and Killarney saw increases on par with communities not immediately adjacent to the line such as Altadore and South Calgary.