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FREE july 25 to july 31 2014 issue 04-29 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

THE NEW WEST

West Village plans cast future of downtown core into spotlight

CODY STUART managing editor Construction cranes that dot the east downtown skyline are providing Calgarians a not-toodistant vision of what the city?s core might soon look like. Yet industry experts suggest future plans in the underdeveloped West Village will provide a better understanding of what?s really in store in the heart of Calgary. ?I think it could develop into [something like] False Creek in Vancouver,? said Matthew Boukall, Calgarybased director of residential advisory services for Canadian real estate advisory firm Altus Group, referring to Vancouver?s emerging mixeduse downtown community that houses, among other services, the 2010 Olympic Village. ?You look at the parallels ? False Creek is fairly far from the downtown core, but it?s creates its own little entity, and that?s what the West Village could turn into.? Current development in Calgary?s West Village ? bounded to the north by the Bow River, to the east by 11th Street SW, to the south by the Canadian Pacific Railway tracks and to the west by Crowchild Trail - has been limited to the 8.2-kilometre West LRT, a $1.4-billion project that recently brought CTrain service to the area.

?CITY LIVING HAS SO MUCH TO OFFER . NOW IS THE TIME TO START REINVENTING THE WAY WE ENVISION DOWNTOWN COMMUNITIES . ?

BRAD LAMB CEO OF LAMB DEVELOPMENT CORP. More concrete plans are still years away, with the City?s planning team stating development in the area is a ?long-term? notion. In 2010, council approved a redevelopment plan that would create a pedestrian-friendly district featuring, among other things, a ?grand staircase? reminiscent of the Spanish Steps of Rome to bring people from the West LRT?s Sunalta station over the CPR tracks; a London-inspired roundabout to replace the winding exits between Bow Trail, 14th Street and 9th Avenue; office highrises along 14th Street that would serve as area landmarks; and office and commercial development from 11th Street to Crowchild Trail, between the train tracks and Bow River. ?The biggest issue is timing,? said Boukall. ?We still have a lot of land to build out in the East Village. We still have a lot of land in the Beltline to build out.? Overall, Centre City ? which is bound by the Bow and Elbow Rivers to the north and east and 17 Avenue South and 14 Street West ? is expected to see up to 40,000 new residents and more than 60,000 new employees by 2035. Calgary?s Centre City is currently home to more than 35,000 people, with 159,000 working in the area. WEST VILLAGE A3

THREE PART WEST VILLAGE SERIES

JULY 11:

PAST

LAST WEEK:

PRESENT

THIS WEEK:

FUTURE

SINGLE FAMILYMLS

® NUMBER OF UNITS SOLD* JUN ?12 ? JUN ?14 1710 1609 1386 1132 1174 1006 745 879 1209 1480 1611 1766

JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14

*All statistics based on monthly data compiled by CREB ® via MLS ® activity. 1638 1575 1517 1354 1336 1197 772 974 CODY STUART, Managing Editor 1230 1699 1736 2027 1769

FEWER CANADIANS PAYING DOWN MORTGAGES FASTER

CREB® STAFF new CIBC poll found a ?significant? decrease in the number of A Canadians using lower posted mortgage rates to pay for their homes faster. The poll found 55 per cent of respondents are using one or more avenues to pay their mortgages down soon compared to 68 per cent doing the same in a poll conducted last year. MORTGAGE A3

CONTENTS

NEWS BRIEFS.

. A3

COMMUNITY

. . It?s never too late

MORTGAGE RATES.

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MUNICIPAL

. . Calgary Civic Census

COMMERCIAL.

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MAP

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OPEN HOUSES.

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A6 A10 A10 A10 B1 B23

@crebnow /crebnow crebnow.com Sutton CanweSt Real eState

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| 403-617-7749

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RICHmonD HIll 45+ ComPlex townHouSe oPen HouSe - Sunday 2 - 4pm Prestigious SoBow. 2 bdrm + den + separate dining area. Steel frame/concrete building, EPDM roofing. Granite, stainless, hardwoods. FP, AC. Condo fees of $569 include 1ST class gym, steam rm, & amenities. Show home condition! Steps to William Pearce Park. MLS®C3624766 1425 sq. ft., large living room, 2 fireplaces, functional kitchen with walk-in pantry, door to large private west facing patio with mature trees & landscaping, fully developed basement, and minutes to Westhills. Double attached garage. MLS®C3622617

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