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Stories Tagged - suburban

Suburban condo living offers a wealth of benefits without inner-city prices.

Feb. 16, 2017 | Kathleen Renne

Fringe benefits

Suburban condos appeal to those looking for good value

After renting a condo in Marda Loop for the past ten years, Kerri-Lyn Ouellette is moving: She's buying a condo in the suburbs. Her choice? Hopewell Residential's Sandgate development in Mahogany.

"Marda Loop isn't affordable for a single woman with a middle income. Condos in the suburbs, however, are affordable," said Ouellette, adding that Sandgate condos start in the $190s range.

Ouellette says market conditions played a primary role in her decision to buy now.

Joe Binfet, managing director/broker of Colliers International in Calgary, said the city's office market is gaining traction following challenging conditions in 2016. Photo by Wil Adruschak/For CREB®Now

Jan. 10, 2017 | CREBNow

Positive traction

Real estate officials expect conditions to support turnaround in downtrodden commercial market

Calgary's commercial real estate market is showing signs it is finally moving on from tough economic conditions that sent vacancy rates soaring and rents plummeting over the past two years, say officials.

''There is a sense in the market that the worst is behind us and that conditions will gradually improve," said Joe Binfet, managing director/broker of Colliers International in Calgary.

Dec. 08, 2016 | Joel Schlesinger

Healthy homes, healthier people

Pilot planning initiative puts public health front and centre of new community development

A stretch of Nose Creek that straddles Calgary's northwest and northeast quadrants may now be only home to scenic, rolling grassy hills.

But soon enough, about 9,000 city residents could being calling it home sweet home, along with 21,000 jobs, as planning is underway to develop a community with residential, commercial and industrial opportunities.

Most notably, however, is this community, once built, will be one of city's healthiest places to live, work and play.

Calgary’s suburban office market continues to see negative absorption rates due to high vacancies and new product entering the market.

Oct. 27, 2016 | Jamie Zachary

Suburban creativity

Commercial landlords thinking outside of the box in wake of high vacancy rates

Landlords in Calgary's suburban office market continue to display increasing creativity in the face of rising vacancy rates that are not expected to stem any time soon, says a new report.

In a third quarter report issued earlier this month, Barclay Street Real Estate noted the overall vacancy rate in suburban Calgary rose by
1.1 per cent from the second quarter to 22.3 per cent. Research director Anthony Scott attributed the slight increase to the introduction of new inventory that came to market with significant unleased space.

Inner-city high rises like Park Point are serving a growing niche of downsizers. Illustration courtesy Qualex-Landmark

Aug. 22, 2016 | Joel Schlesinger

Boomers making their mark

Condo developers respond to 'downsizing' needs

As the largest segment of the population in North America, baby boomers have shaped our world more than any other age group. And their impact on housing is profound.

Now, while this generation, born between 1946 and 1964, is becoming increasingly gray, the real estate industry is responding to their needs for housing.

Many developers in Alberta are turning their attention to high-density high-rises in centrally located neighbourhoods to reflect boomers' demand for stylish, worry-free living, said Parham Mahboubi, vice-president of planning and marketing at Qualex-Landmark — a Vancouver-based development firm which is the force behind Park Point in the Beltline along 12th Avenue S.W.

Colliers International managing director and broker Joe Binfet says while Calgary's downtown commercial market is struggling, the city's suburban market is still active. Photo by Wil Andruschak/For CREB®Now

Feb. 16, 2016 | Alex Frazer Harrison

Suburban resilience

Commercial market outside the core still active

Calgary's suburban commercial market is bucking the trend and chugging along in the face of Alberta's current economic downturn, say industry experts.

"The perception is that all commercial real estate is facing challenging times, but the reality is our industrial market and our suburban office market and our retail market are very resilient," said Colliers International managing director and broker Joe Binfet.

"And, while I wouldn't say robust, I would say active."

CBRE managing director Greg Kwong said Calgary's commercial market could have fared worse in 2015 if four major projects currently in construction would have all come on stream this year. Photo by Wil Andruschak/for CREB®Now

Jan. 12, 2016 | Lindsay Holden

Space to spare

Commercial vacancy rates represent market outlook

Nearly one out of five floors in the office towers that make up Calgary's famous skyline now sit empty, according to CBRE, which anticipates vacancy rates to increase further in 2016.

"Oil and gas companies on every level – from junior start-up to intermediate to major companies – everyone has gone through some form of layoff and therefore and have excess space," said Greg Kwong, managing director at the commercial real estate services firm.

Calgary's downtown office market ended 2015 with vacancy rates topping 17.4 per cent – nearly double from 9.8 per cent in 2014, according to CBRE's 2016 Commercial Real Estate Market Outlook.

May 06, 2014 | CREBNow

City ready to accommodate suburban growth of 114,000 people

Calgary has enough serviced and zoned land to accommodate an expected 114,000 people in the next five years.

In a new growth forecast and according to land supply numbers released by the City, there is enough serviced land with approved zoning for 18,846 single-family homes and 26,793 multi-family units.


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