ROOM TO GROW IN COCHRANE
Three-bedroom townhome the perfect rental choice for family
She works in Canmore. He works in Red Deer. Because Cochrane seemed to be the halfway point, Kayla Pugh and fiance Doug Thompson decided to make it their home.
The couple, originally from Prince Edward Island, are renting a threebedroom townhome in Birchwood’s West Townes in the Cochrane community of Heartland. Renting is a temporary option while they figure out their next move.
“We’re on the fence right now. Should we buy in Cochrane or buy a cottage back home in P.E.I.? We spend a lot of time there in the summers and at Christmas,” says Pugh, a dental assistant currently on maternity leave. “It would be nice to have a place back there and continue to rent for a while. Eventually, it would be nice to buy in both places.”
Pugh and Thompson lived in Canmore for several years before making the move to Cochrane where West Townes afforded them more space, lower rent and less driving. “West Townes was in a community we wanted to be in. It’s right on Highway 1A, so it’s an easy commute to Canmore and for Doug to take Highway 22 towards Red Deer,” Pugh says. The maintenance-free complex is comprised of 17 four-unit buildings laid out in a square. Each three-storey, 1,140-square-foot townhome has a master suite on the top floor, two bedrooms and a bath on the second floor, open-concept main floor and an additional 250 square feet of undeveloped basement with laundry.
Pugh says they love the separate master bedroom on the third floor and the fact that their nine-monthold son has his own bathroom just one level down. The hardwood-inspired laminate on the main floor is both beautiful and durable considering they have two dogs, as well.
Constructed and managed by Birchwood Properties, West Townes is just one of several projects purpose-built as rental homes by the Calgary developer. Property manager Amanda McCormick says it’s part of a growing trend.
“Everybody needs a place to live. It’s a matter of what they can afford, and not everyone can afford to purchase a home right now. There’s always a need for rental properties,” she explains.
McCormick notes that Birchwood has an optional rent-to-own program as a stepping-stone to home ownership. It’s also a way to boost sales of other nearby multifamily developments.
“It’s a slower area right now, with the economy,” she says.
Around the corner from West Townes in Heartland are Birchwood’s Brand Townhomes, a project about to break ground. These two- and three-bedroom townhomes will have attached garages and are the perfect next step for renters who are saving to buy.
“For tenants in West Townes that sign a lease with us, we will take a small percentage of their monthly rent and put it towards a down payment,” Kerr says. “So, they get up to $3,000 towards a down payment or they can use it to put in upgrades.”
The program is retroactive and tenants who are mid-lease can still sign up. Kerr says so far only a handful of people have taken advantage of it. She explains that the money for the down payment can be set aside while a tenant’s unit is under construction and their current lease at West Townes can be adjusted to coincide with the possession date of their Brand Townhome.
“When we launched Brand our renters were excited, but many weren’t in a position to purchase. So at least we can take the homes that they want off the market as they work toward the down payment,” Kerr continues.
The program also locks in the current market price while people are saving for a down payment, rather than saving first and then buying when prices may be higher and possibly out of reach.
McCormick says West Townes filled up quickly, noting that there aren’t a lot of new rentals in Cochrane. There are only a few vacancies in West Townes, but those interested can check availability on the website as updates are posted weekly.
Everybody needs a place to live. It’s a matter of what they can afford, and not everyone can afford to purchase a home right now. There’s always a need for rental properties. —Property manager Amanda McCormick.