Builder high on low-rises

Calgary Herald - Calgary Herald New Condos - - Front Page -

There’s still life in Cal­gary’s mul­ti­fam­ily hous­ing constructi­on mar­ket.

Sure, the highrise sec­tor has taken a ma­jor hit be­cause of the eco­nomic down­turn, con­sumer hes­i­tancy and fi­nanc­ing con­cerns.

No new holes are be­ing dug for steel and con­crete tow­ers as de­vel­op­ers work to com­plete and sell what they al­ready have in in­ven­tory.

But there is good news on the lowrise front. Without much in the way of fan­fare, builders and de­vel­op­ers are get­ting build­ing per­mit ap­provals for town­house and apart­ment projects they feel will be scooped up as con­sumers be­gin to come out of their

buy­ing shell.

Trico Homes is one of the com­pa­nies that has de­cided the time is right to come to the mar­ket­place with a fresh look.

As a re­sult, heavy equip­ment has ar­rived on site and foun­da­tions are be­ing dug and poured for the Mi­lano project in the north­west com­mu­nity of Panorama Hills.

Mi­lano is a 212-unit de­vel­op­ment con­sist­ing of 80 three-bed­room town­houses and 132 apart­ment suites in four three-storey build­ings.

Lo­cated on Panatella Hill, Mi­lano will have views to a park at the bot­tom of the hill. There will also be two en­trances to the com­plex from Panatella Hill.

Paul Betts, vice-pres­i­dent of sales and mar­ket­ing for Trico, says there was a “strate­gic de­ci­sion” made in July to move ahead with the de­vel­op­ment, but that plans had been on the draw­ing board for eight months prior to that.

“We felt the tim­ing was right,” he says. “We have com­plete con­fi­dence in the mar­ket­place. The worst of the eco­nomic down­turn is be­hind us and it’s time to move for­ward.”

Mi­lano will be a mix of var­i­ous floor plans and price ranges that will pro­vide choices for any­one from first-time buy­ers — cou­ples as well as sin­gle and newly-sin­gle peo­ple — to re­peat buy­ers who might be mov­ing down due to life­style changes, says sales man­ager War­ren Saun­ders.

Cour­tesy, Trico Homes

An artist’s ren­der­ing of the three-level town­houses that will be part of the Mi­lano de­vel­op­ment.

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