Mahogany leads residential building permit applications
After three consecutive years leading all Calgary communities in demand for new homes, Mahogany appears to be ready for another bustling year.
The southeast lake community had 111 applications for residential building permits between Jan. 1 and the end of March, the most of any community in Calgary, says the city’s planning and development department. Applications may include more than one permit.
This counts 106 applications for single-family building permits, a total that, again, topped all areas in the city.
“... People are feeling more confident in the marketplace, and they know that investing in a new home in a lasting community is a sound financial decision,” says Nicole McLaws, Hopewell’s marketing manager. “In Mahogany, homes are affordable, and purchasers get so much value — and with today’s buyers, who are so savvy, well- researched and careful with their dollar, we know that we need to offer the best quality, best location and best lifestyle, and that’s exactly what we strive to do.
“We have the city’s largest lake, 265 acres (107 hectares) of green space, gorgeous wetlands, shopping and restaurants, playgrounds and so much more. In addition, the demand is there because people want to live in a new community that has everything they need to make life easy,” she adds. “People are so busy that to know you have everything you want and need only minutes from home is a real draw.”
For interest in new single-family homes, the early part of 2017 has eclipsed activity from the same time a year ago, says Peter Skolaude, an area sales manager for Calbridge Homes in Mahogany.
“There’s definitely a very marked difference between 2016 and 2017,” says Skolaude. “Definitely quite a bit more activity in January, February and March than we experienced last year over the same months. But it’s also just the vibe, the feeling of the buyers.”
Skolaude sells in Mahogany’s Reserve Collection, which are lakeside estate homes. They range from around 2,200 to 3,000 square feet.
“A lot of our buyers tend to be on a longer time cycle, so a lot of people who have been looking for the last year and a half to two years, they’re pulling the trigger,” says Skolaude. “They’re seeing value there. They’re seeing their existing homes come up in value.
“... People have a lot more confidence in buying something new,” he adds.
The Calgary Real Estate Board says the benchmark price on single-family homes was $503,900 in March, up from $501,900 a month earlier.
Along with Calbridge, builders in Mahogany include Excel Homes, Homes by Avi, Hopewell Residential, Jayman Built and Morrison Homes.
Following Mahogany, three other communities had at least 50 residential building permit applications over the first quarter of 2017, says the city’s planning and development department.
Cornerstone by Walton Devel- opment and Management had 99, there were 69 in Redstone by Qualico Communities, and 52 in Legacy by WestCreek Developments. Cornerstone and Redstone are in northeast Calgary, and Legacy is in the southeast.
For single-family building permit applications, Mahogany was followed by 99 in Cornerstone, 64 in Redstone, and 50 in Legacy.
In the month of March alone, Cornerstone led the way. It paced the city with 47 residential building permit applications of all kinds, followed by 37 in Mahogany, and 30 in Redstone.