CALL OF THE LAKE LIFESTYLE
Cottageclub beckons boomers
A decade after welcoming its first cottagers, a gated waterfront cottage community a half-hour’s drive from Calgary is seeing a change in the look of today’s buyers.
In 2010, Cottageclub Ghost Lake celebrated its first possession and had 13 more cottages under construction. Today, 203 of the 228 lots in the community have been sold with another 120 to come in the fourth and fifth phases, according to Don Stengler, Cottageclub project manager for the developer Lamont Land Inc.
Located a half-hour west of Calgary on Highway 1A at Ghost Lake and about 30 minutes from Canmore, Cottageclub has seen its popularity as a lifestyle community continue, but with a change in the makeup of its cottage owners.
“It’s no secret the current Alberta economy does not support many families in purchasing a recreational property,” says Stengler. “Consequently, we have seen fewer families wishing to purchase our properties as an escape for the weekend.”
However, it’s now the baby boomers who are leading the way as they look to “financially downsize” and enter semi-retirement while favouring a recreational lifestyle, Stengler says, adding that the 55-65 age group is the most active buyer segment.
“All of our buyers are seeking a more recreational lifestyle. By recreational I am referring to owners who can escape the city for the weekend and enjoy a second property,” Stengler says. “This type of ownership is, of course, a luxury. Thus in an uncertain economy, young families are naturally more frugal — something that is understandable.”
Cottageclub lots measure from 3,500 to 11,000 square feet and they all back onto a pathway. The maximum allowable interior measurement of each cottage is 950 square feet above ground.
Prices for cottage and lot packages in the third and fourth phases range from approximately $300,000 to $650,000. Monthly condo fees are set at $195 per month.
“What sets Cottageclub at the head of the class is, firstly, the community vibe. People have a common interest — and that is family and friends first, something the master development plan was created around,” Stengler says.
The development offers a range of amenities, from the beach and walking paths to a recreation centre with swimming pool, hot tub, and social club events, and it works within a development framework that “shows respect for nature.”
Two years ago, Jack and Astrid Vanderlee decided that with their two children grown and gone, they should downsize and move closer to Calgary.
After shopping around, the couple bought a pair of adjacent Cottageclub lots, one of them to build a full-time residence on and the other as an investment, and left their 4,000-square-foot Banff home behind.
“We weren’t specifically looking for a cottage, just wanted to downsize at a water location close to Calgary and enable a lifestyle where work and leisure go hand in hand,” says Jack, who along with Astrid owns Jaw Drop Marketing.
Living close to a lake can have a “significant influence” on a lifestyle, and being avid about outdoor sports makes the move even more beneficial, says Jack.
Another change in the makeup of Cottageclub came with three sought-after changes by Rocky View County to the development plan that took effect in January of this year. Those changes now allow the potable water distribution system to remain on year-round; expansion of the natural gas system that allows distribution to all cottages instead of just common-area buildings; and to allow full-basement development rather than a crawl space.
Moving forward, Spengler sees growth in the number of cottage developments driven by the boomers wanting to downsize but stay close to family and friends.
Stengler says he would like to start another project this year, but again pending market demand.
“We have been approached by various landowners who really like what the Cottageclub brand stands for and would like to partner with us on a project on their property,” he says.