Healthier outlook: New homes industry anticipates market strengthening through 2021

Article content continued

“There aren’t too many international people coming, but there will be immigration from other places in Canada,” he says. “I think 2022 is going to be a great year. We might not get our swagger back, but we’ll feel a lot better about life.”

Anthem United’s current projects include Belmont and Sirocco at Pine Creek in the southwest; Cornerstone in the northeast; Wedderburn and D’Arcy in Okotoks; and Chelsea in Chestermere.

A new phase of Chelsea will hit the market this year and on the horizon is Glacier Ridge in Calgary’s northwest, a 732-acre joint venture project with Ronmor Developers. The 10-year plan includes 4,135 single-family lots, 87 acres of multi-family development plus a firehall and a high school site.

Glacier Ridge squeaked in before the City of Calgary put the brakes on new development in fall 2020.

“As a developer, I’m always pro-growth, but it was the right thing to do. There is still some momentum, but there has to be an adjustment. It’s a complicated time and the world is grouchy right now,” he says.

Veteran developer Qualico will move forward in 2021 with Ambleton in the northwest, Vermilion Hill in the southwest and Painted Sky in Langdon.

Not faring so well in Calgary is multi-family housing. According to the Calgary Real Estate Board, the median price of resale apartment-style condominiums fell by 14.49 per cent in 2020, taking an average 73 days to sell. Yet, the second and third quarters of 2020 were hectic for University of Calgary Properties Group, developer of University District in the northwest, which is exclusively multi-family.

View Source