Few surprises, but still highlights for Calgary's housing market this past year, say experts

In a year of sales declines, price adjustments and mortgage rule changes, the one constant for Calgary's housing market in 2016 was the number of challenges it faced as the result of soft economic conditions, say industry observers.

Yet officials also maintain challenges for some created opportunities for others. And, perhaps more importantly, there is renewed optimism heading into 2017 thanks to improving numbers during the second half of this year and a series of large energy infrastructure announcements.

Two historic parcels of Okotoks land to be redeveloped for future generations

Once homesteading land for the D'Arcy and Wedderburn families, two historically significant properties in north Okotoks are to be redeveloped for a new generation of families.

United Communities has purchased approximately 178 hectares of farmland on both sides of Northridge Drive as sites for a pair of mixed use communities — simply to be called D'Arcy and Wedderburn.

Provincial decline led the country

Spending on new residential construction in Alberta totalled $738.3 million in April, down from the $1.025 billion seen the previous April, according to the latest numbers from Statistics Canada.

The 28 per cent decline was the largest fall of any of the provinces, with decreased investment occurring in all dwelling types – although the decline was mainly due to lower spending on single-family dwellings.

In total, spending on new housing construction decreased in five provinces in April. Alberta was followed by Saskatchewan and Manitoba.