News Archives - 2006
47 Storeys Proposed in the Beltline! December 15th, 2006
All the talk of the Beltline district will soon be focused on the South West corner of 4th street and 11th avenue.
ProCura has recently submitted application for Land Use on this prime site located within walking distance to downtown and Uptown 17th Avenue.
The proposed land use would allow ProCura the ability to build up to 47 storeys consisting of 50% office and retail, and 50% residential luxury condos.
Dates have been set for construction or lease
For the latest news on this development please click here to register for more information
Welcome Milieu!October 12th, 2006
ProCura would like to welcome Milieu as the newest tenant to Mount Royal Village. Milieu features both men's and ladies' fashion basics along with an assortment of lifestyle curios.
ProCura Announces New Development Site! October 10th, 2006
ProCura is pleased to announce the acquisition of a new site within Calgary’s booming Beltline district. Located on the south west corner of 4th street and 11th avenue, ProCura aspires to create a mixed-use tower like never seen before in Calgary with 50% Class AAA commercial office, and luxury residential. Applications for land use are slated to begin before the new year, and design work to follow shortly after.
To stay current with this and other ProCura developments, be sure to register for more information. Click here to register
Calgary is Booming, What About Edmonton?.July 17, 2006
According to CMHC (Canada Mortgage and Housing Corporation) Calgary for the first time in CMHC’s recorded history shows a void of completed and not absorbed apartment style condominium units, while only a year ago that number was over 300. Combined with CREB’s (Calgary Real Estate Board) recent numbers showing average days on market for condominiums at 14, one can only come to the conclusion; high demand, low supply, booming Calgary market.
Interestingly a similar trend is now occurring in Edmonton. According to CMHC Edmonton CMA shows 351 completed and not absorbed apartment style condo units for the month of May, compared to 698 units just one year ago, and average days on market dropping from 38 to 19 in just twelve months (EREB Monthly Stats for June).
Edmonton Sales Outpace Listings in May June 9, 2006
EREB monthly statistics for May 2006 indicate higher rate of sales to listings indicating a growing demand that exceeds the current rate of supply. In a typical situation, the market would have a healthy inventory of listings to which new listings are added, as old listings are removed either due to sales or being pulled off the market by the buyer. In the current situation whereby the number of sales exceeds the number of listings, this healthy inventory decreases.
Coupled with the declining housing starts as reported by CMHC - Release June 8, 2006, Edmonton may become witness to dramatic increases in housing prices in the upcoming months.
Calgary Nears $400k for Average Single Family HomeJune 3, 2006
News release by Calgary Real Estate Board yesterday indicates another 5% increase in average sale prices from the previous month (42.8% from this time one year ago), bringing the average single family home price to $396,694. With close to 3000 single family homes and 209 condominiums priced over the $400,000 mark already changing hands this year, one can only imagine where the market is heading. In comparison, this time last year, CREB reported 921 (total including single family homes and condominium) sales exceeding the 400k mark, and only 243 in 2004.
YTD Absorptions out pace Completions - EdmontonMay 25th, 2006
Edmonton for the first time this year has seen greater number of completions to absorptions for apartment condos, however only by a margin of five units. The YTD numbers indicate that 735 units were absorbed, while only 633 have been completed. This trend indicates a higher demand to supply, and results in a decreasing number of completed and not absorbed units. At the end of February this number was at 384 and is currently down to 334. As this number decreases condo buyers will be forced to turn towards projects currently under construction or in preconstruction phases. CMHC - Housing Now Edmonton May 2006
Calgary has experienced this trend and currently is showing a mere 4 units that are completed and not absorbed, and is currently in a state where the number of completions and absorptions are equal, indicating a gross undersupply of product. CMHC - Housing Now Calgary May 2006
Fueled by low interest rates and urgency created by increasing housing costs, the escalating demand for preconstruction product can be forecasted to continue. As Edmonton forges forward into a decreasing number of completed and not absorbed units, we can expect an escalating demand for preconstruction product as currently being witnessed in Calgary, indicating an incredible investment opportunity for purchasers of Century Park.
Calgary Housing Starts will Reach 25 Year HighMay 16th, 2006
"While the rest of the nation experiences a modest decline in new home construction in 2006, Calgary will buck the trend by posting an impressive 10 per cent gain to 15,000
starts. This will represent the best performance since 1981 and third best year on record. As was the case in previous years, low mortgage rates will maintain demand in 2006. However, Calgary’s red-hot economy fueled by elevated energy prices and massive levels of construction deserves most of the credit. A severely tight labour market and high wages will continue to draw migrants to fill fulltime positions, in turn boosting new home demand. A shortage of resale listings is also turning buyer’s attention to the new home market." CMHC - Housing Market Outlook May 2006
The Montana Discovery Centre Launches! January 21, 2006
Please visit the Discovery Centre and one of our knowledgeable sales associates will be happy to introduce you to this new concept of luxury living.
The Montana Discovery Centre
803 15th Avenue SW
Calgary, Alberta T2R 0R9
Phone: 403-802-5888
Fax: 403-802-5896
Email: info@themontana.ca
Web: www.themontana.ca
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