GATEWAY TO OUTDOORS
The draw of living in Cochrane
One of the draws to living in Cochrane is that it’s on the doorstep to a wide range of outdoor pursuits.
Lakes, rivers, and the Rocky Mountains are a short drive away.
This was part of the consideration when Excel Homes designed its latest multi-family development in the Cochrane community of Sunset Ridge.
The builder recently opened preconstruction sales on a new fee-simple townhome development, featuring large garages, including some with space for three vehicles.
Beyond that, it can also work for storing kayaks, snowboards, skis and other gear needed to fit their active lifestyle.
“People who live in Cochrane live here to be in a smaller town and be close to the mountains so they can enjoy being outdoors,” says Angela Ray, area sales manager for Excel. “By having the extra space in the garage, they can have their toys stored at home.”
Garages at this development are either a double tandem garage, with two entrances but three bays, or a single tandem, with one entrance and two bays.
At build-out, the development will have 50 three-storey townhomes along Sundown Road. Its current starting price is $274,900.
As a fee-simple development, the buyer also owns and is responsible for the yard and the exterior of the home. As a result, there’s no condo board or condo fees.
The yard is about 18 feet by 20 feet and comes with wrought iron fencing. An eight foot by eight foot hard surface patio is part of the townhome, too.
“With the new mortgage rules, people are qualifying for less,” says Ray. “We wanted to maximize how much home you can purchase ...”
Since Oct. 17, 2016, all buyers seeking high-ratio insured mortgages have needed to qualify for both their contract rate and the conventional five-year fixed posted rate through the Bank of Canada.
The Bank of Canada figure, generally higher than most contract rates, is the most common number advertised by the six largest banks in Canada.
Qualifying for the Bank of Canada rate was already needed for high-ratio insured mortgages with variable interest rates or fixed interest rates with terms less than five years.
At Excel’s Sunset Ridge townhome development, there are five floor plans ranging from 1,337 to 1,669 square feet. They come in three or four bedroom orienta- tions with 2.5 bathrooms.
Construction is expected to start this spring, with first possessions likely available in October.
Excel is selling these townhomes from the sales centre for its frontdrive single-family homes at 7 Sundown Terrace. It’s open 2 to 8 p.m. Monday through Thursday, and noon to 5 p.m. on weekends and holidays.
Sunset Ridge, master-planned community by Melcor Developments, can be accessed off Cowboy Trail on the north end of town. The community boasts an eye-catching 2.6-hectare pond surrounded by two hectares of park space.
The community’s other builders include Jayman Built, Homes by Avi, and Landmark Homes.