Showing posts with label Elbow Park. Show all posts
Showing posts with label Elbow Park. Show all posts

Tuesday, August 13, 2013

FLOOD POLICIES


Inner-city river communities say flood policies unfair 
Neighbourhoods band together 
BY ERIKA STARK 
CALGARY HERALD AUGUST 13, 2013

Concerned with maintaining the integrity of their communities, a group of inner-city residents are hoping the provincial government will review what they feel are punitive flood mitigation policies.

The Calgary River Communities Action Group formed last month after a jam-packed community meeting July 24 at the Glencoe Club. There, residents expressed their concern and anger over the province’s disaster recovery program and required flood mitigation standards, said founding member Tony Morris.

Morris and four other community members representing inner-city neighbourhoods including Sunnyside, Erlton, Mission, Elbow Park and Rideau-Roxboro started the group to have a “constructive dialogue” with the government about their concerns. More than 100 people have signed up to volunteer, and there are more than 500 people on the group’s subscription list.

“That their first policy seemed to be very punitive of people who lived in the floodway and people who lived in the flood fringe was very upsetting,” said Morris, a Roxboro resident and local lawyer.

One of the group’s chief concerns is the province’s announcement it will place a notice on a person’s land title if the property is in the floodway or flood fringe, if that property owner used disaster recovery program funding to rebuild or repair their home. According to the province, the notice will be removed for property owners in the flood fringe who have completed the necessary flood mitigation measures.

Emma May, a realtor and fellow founding member, said these notices are unnecessary, and wrong. 

“Anything that sets you up for ineligibility for future disaster funding — we just think that’s fundamentally wrong and we don’t think that’s the direction the government should go in,” she said, adding that flood maps are publicly available and rules around disclosure of flood mitigation measures already exist.

“Homeowners already have huge burdens.”

Some of the group’s other concerns surround the types of material allowed and prohibited for flood mitigation and whether the province will undertake any upstream flood mitigation or prevention measures. 

Morris said upstream flood mitigation is the “only solution” to a future flood disaster.

Looking forward, the group also plans to explore whether overland flood insurance should be adopted in the province.

The group has met and spoken with provincial officials a number of times since the flood to address its concerns, and May said the response has been encouraging.

“They’ve really come forward and stepped up,” she said. “They’ve sent the right people to meet with us.” 

The group met last week with Municipal Affairs Minister Doug Griffiths as well as Andre Corbould, the chief assistant deputy minister for the Alberta Flood Recovery Task Force. Corbould said the meeting helped the province understand some of the community’s concerns.

“It was a productive dialogue from my perspective,” said Corbould, who added that provincial staff will consider the concerns as they review their policies. He will meet again with the group later this month.

“We’ll certainly consider what they’re asking us to consider,” he continued, noting that the province is doing the same in “almost every community” affected by the floods.

May said the group’s efforts will continue as more information emerges about flood recovery. She worries that some of the province’s policies might discourage people looking to move to the riverside neighbourhoods, and that some existing residents will want to leave.

“The biggest thing we want to accomplish is just the preservation of our communities as we knew them,” she said.

Thursday, July 11, 2013

SHINE ON


Calgary sets record with 4 MLS sales over $4 million in one month 
Luxury home market continues to shine
By Mario Toneguzzi 
Calgary Herald July 9, 2013

CALGARY — For the first time ever, four homes priced at more than $4 million on the MLS market have sold in one month in Calgary, the Herald has learned.

The Calgary Real Estate Board has confirmed the record, which eclipsed the previous mark of two homes sold at that price point in June 2008.

In the first week of July, the sales at more than $4 million included homes in Britannia ($4.45 million), Elbow Park/Glencoe ($4 million) and Mount Royal ($4.645 million).

Then on Monday a home in Bel Aire sold for $4.45 million.

It’s another indication that the luxury home market is continuing to shine in Calgary.

According to Mike Fotiou, associate broker with First Place Realty, there have been 18 homes sold for more than $1 million in the first week of July.

Ann-Marie Lurie, chief economist at CREB, said year-to-date luxury home sales represent 3.2 per cent of the total sales, up from last year’s share of 2.5 per cent.

“Consumers have more choice in luxury homes with a rise in the number of new listings in this category, helping support the sales growth,” she said. “However, more choice has contributed to median price growth in the luxury sector to be relatively weaker than city wide price growth. The median value of the sold transactions have trended up from the low of the recession and are slightly higher than levels recorded last year, however, they still remain below levels recorded during the 2007 period.

“Despite some economic setbacks, long-term economic prospects remain relatively strong in our city. Wages continue to rise while mortgage rates remain at low levels — all of which are supporting demand growth. Furthermore, the tight supply levels in the lower price ranges have reduced the time on market and supported relatively stronger price growth in this sector, potentially offering an opportunity for those consumers looking to upgrade.”

Last month, a home in Crescent Heights, listed by John Hripko, a realtor with Royal LePage Foothills, sold for $11.1 million — a new high for the Calgary MLS market. That home was owned by former Shaw executive Jim Shaw.

According to Fotiou, there were 74 luxury home sales in June, setting a record for the most $1-million plus sales for the month of June. The all-time monthly record for luxury home sales was established in May at 84.

Last year was a record of 544 luxury home sales in the city.

According to CREB, there were 394 sales of $1 million or more in the first six months of this year compared with 299 for the same period last year.

The mid-year total so far this year has already surpassed year-end totals for 2010 (365), 2009 (337), and 2008 (369), pointed out Fotiou.

Photo By: s@@m

Thursday, April 25, 2013

LUXURY HOME MECCA

Report finds Calgary a luxury home mecca
Baseline entry point is $2M for upscale residence
By Mario Toneguzzi
Calgary Herald April 22, 2013

Calgary is one of Canada's most robust markets for luxury homes, says a report by Sotheby's International Realty Canada.

The baseline entry point for a luxury single-family home in Calgary is $2 million - in line with the Toronto market - says Sotheby's Top Tier Trends Report.

As Calgary's market for top-tier homes continues to outpace most of Canada, Sotheby's survey findings reveal demand is predominantly driven by younger buyers, age 35 to 40, who have a skew in preference toward inner-city and Beltline living.

The report lists the most desirable neighbourhoods as Mount Royal, Brittania, Bel-Aire, Aspen, Springbank Hill, Elbow Park/Elbow Valley, and Inner City Southwest/ Westside

"According to agents surveyed, top-tier single-family homes start at $2 million dollars with a minimum of 3,500 square feet," the report states. "According to experts surveyed, over 80 per cent of these homebuyers earn an income of $500,000 or higher.

"They are predominantly employed within the finance and investment banking (mining, oil and gas) or medical sectors, or are entrepreneurs," the report continues.

According to the survey, 85 per cent of luxury home purchases in Calgary are made by Canadians - the highest rate among the markets Sotheby's surveyed.

"According to agents surveyed, top-tier single-family homes start at $2 million dollars with a minimum of 3,500 square feet," said the report. "'Must-have' features include access to schools and shopping, views of downtown, park, river or mountains," the report says.

"Most buyers own multiple homes and mortgages are commonly used within this segment of the market."

According to the Calgary Real Estate Board, there have been 204 MLS sales over $1 million in Calgary this year to April 17.

The city set a record for luxury home sales during 2012, with 544 sales. The previous record was 458, set in 2007.

Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp., said that demand for luxury homes has been robust.

"Low mortgage rates combined with a healthy selection of higher-priced homes have also helped luxury homebuyers."