ESTATE STYLE
Edmonton's luxury homes market on the upswing
When it comes to estate homes, Edmonton is making a statement.
This city's home builders swept two of the three estate home categories at the recent provincial housing awards including securing all three finalist spots in each of those groupings.
It was Carriage Signature Homes, which took the Estate Home $800,000 to $1 Million award, and Vicky's Homes, which won Estate Homes Over $1 Million, at the 2021 BILD Alberta Awards held virtually in late September.
Carriage was competing against two different offerings from Vicky 's Homes, and Vicky's Homes faced competition from Habitat Studio and another one of its own homes in the $1-million-plus segment.
Edmonton, however, was shut out of the other estate home award, which went to Crystal Creek Homes of Calgary for Estate Home $600,000 to $800,000 — all these finalists were Calgary-based.
“Our team is really excited to win the award and getting the recognition for the house in Keswick on the River,” said Gary Hoeft, Carriage's president and general manager. The house, a reverse walkout called the Giovanni, at just over 2,000 square feet, is described as an entertainer's dream and includes an elevator.
To take advantage of river valley views, Hoeft said it just made sense to put the walkout in the front of the house instead of the traditional rear-facing views associated with them. The kitchen includes double islands and is a black and white showstopper, while there's a grilling porch off the back.
The house's exterior has a Prairie-style elevation while the interior combines a transitional feel with a contemporary flair.
This is the second award this year for the Giovanni, which won in the Best Single Family — Any Style Model ($700,000 to $850,000) at the Canadian Home Builders' Association — Edmonton Region 2021 Awards of Excellence in mid-june. Similarly, Vicky's Verity III, which took the BILD Alberta award for Estate Home Over $1 Million, also won at the CHBA-ER 2021 awards where it was the winner in the Best Single Family — Any Style category for over $1.5 million.
“We tend to have one or more entries in this category as we are known for our custom/estate homes around that price point,” said Vicky Kujundzic, owner of Vicky's Homes. “Winning this award reminds us that we are hitting our targets of incredible design and client satisfaction. We have won this award multiple times at the local level, although we've won at the provincial level before, too, it's certainly difficult as the competition from around the province is extremely competitive.”
The Verity III, at more than 4,700 square feet, is done in a contemporary style, includes two rooftop patios, has an ensuite steam shower with a window to enjoy panoramic ravine views, and comes with a seven-foot kitchen sink with two faucets, two soap pumps and two garburators.
INTEREST INCREASING
While Edmonton's estate home market has had mixed success over the years, builders say its future looks promising.
“The estate market continues to grow, now more than ever,” said Kujundzic. “Entrepreneurs, business owners, those in the medical field, and tech and internet wealthy clients, and even those who are just tired of all the COVID restrictions are coming to build with us. Because of COVID, and all the rec centre closures, more and more people are now wanting more amenities, like indoor pools in their new homes.”
Meanwhile, Carriage's Hoeft said they're seeing “upward momentum” and there's a growing market for estate houses in the $2.5 million to $4 million range.
“The shift that we're seeing with the estate market is that it's definitely swinging to the infill side,” said Hoeft, noting it's due to discerning buyers wanting specific locations.
“It (the estate home market) was nearly non-existent back in the 1980s and '90s, but then we saw a turn in the late '90s and early 2000s,” adds Trevor Hoover, se- nior designer and partner at Habitat Studio, whose Tian Yi entry was a finalist in the BILD Awards for Estate Home Over $1 million.
“I feel like it was quite prevalent up until 2008, then took a little drop as did anything construction-related. Today, I don't think it's a huge market in Edmonton. I would think Calgary builds more estate homes than Edmonton and area does, but we definitely have some great homes with great people right here in Edmonton.”