Vesta Properties - Vesta Williamstown

SECTION F
WOW FACTOR
Find out why there’s upscale wow
in the Cypress in Mahogany — and New York flair
in the Soho in New Brighton. See pages F6 and F8.
NEWHOMES
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OT H E R N E W S AT C A LG A R Y H E R A L D . C O M / H O M E S
EDITOR: BARB LIVINGSTONE 403-235-7339 [email protected]
SATURDAY, JULY 2, 2011
Leah Hennel, Calgary Herald
From left, Eric and Kelly Campbell with children Owen, 2, Blake, 4, and Charleigh, six months, in front of their home in Williamstown in Airdrie.
Williamstown
fits growing
family to a T
Airdrie community has ‘pretty much
everything we were looking for’
S
MARTY HOPE
CALGARY HERALD
ometimes, you just know when
something is the right thing to
do.
It’s a comfortable feeling deep down
that says “this is it.”
Eric and Kelly Campbell had that
feeling after spending a few months
looking around Airdrie for a new
single-family home — a search that
ended in Williamstown by Vesta Properties Ltd.
The parents of three children, the
Campbells decided their Meadowbrook home was too small for their
growing family.
After checking out several other
neighbourhoods in the city just north
of Calgary, they found exactly what
they were looking for in this rapidly
growing development off Veterans
Boulevard on the west side of Airdrie.
They moved in during October.
“After shopping the different areas,
we decided Williamstown was like no
other we’d seen,” says stay-at-home
mom Kelly. “It has pretty much everything we were looking for.”
Husband Eric is inside sales manager for Hunting Energy Services.
Most importantly, for now, is the fact
their 2,100-square-foot, Vesta-built
home has more than enough room for
their young family.
Second, the home is on a quiet culde-sac with pathway access to the
18-hectare environmental reserve —
the heart of the Vesta community.
AIRDRIE, PAGE F3
MARTY HOPE’S COLUMN F5 ■ SHOWHOMES OF THE WEEK F6, F8 ■ SHOWHOME MAP F9
MORTGAGE RATES:
The Bank of Canada’s base rate for a
one-year closed mortgage, set each
Wednesday, settled in for a fourth week
at 3.50 per cent, its lowest level since late
March. Mortgage lending institutions set
their own rates. See the full rate table on page F4.
INSIDE:
NEW HOMES
Breaking news at calgaryherald.com
GOOD TO BE BLUE
In case you missed it, the blue team was winner
of the latest My Rona Home contest on Citytv.
According to viewers’ votes, Jordan and Robyn
Ausmus won every week of challenges to win a
Sabal home in Mahogany, a southeast neighbourhood by Hopewell Residential Communities.
Complete with furniture, appliances and electronics, the home was valued at $500,000.
Two couples, both from Calgary, competed dur-
ing a 10-week period, putting in 30 hours of labour
and working room by room to radically transform
the empty spaces.
The winning team worked with Alykhan Velji, a
local interior designer, and Edmonton contractor
Brian Cyr to create their dream home.
Check the website at www.citytv.com/myrona
home for more details.
— Kathy McCormick
Saturday, July 2, 2011
F5
Courtesy, My
Rona Home
From left,
contractor
Brian Cyr,
Jordan and
Robyn Ausmus
and decorator
Alykhan
Velji of Team
Blue on My
Rona Home.
No one is turning the lights off in Saskatchewan
now. In terms of the economy,
S
things are definitely looking brighter for
our eastern neighbour, says columnist
Marty Hope — and that could affect
Alberta’s housing industry. See page F5.
Inside
Lights definitely on in Saskatchewan
Economy turns old joke on its head
o much for that old joke
about the last person leaving
Saskatchewan turning off the
lights.
Things are looking brighter for
Alberta’s eastern neighbour from
an economic perspective — and
the housebuilding industry is
reaping much of the benefit, says
Canada Mortgage and Housing
Corp.
If the federal housing agency’s
Housing Market Outlook
for the Prairie provinces
from April to June is any
indication, there should
be little change in the
Builders next couple of years, at
will main- least.
Last year in Saskatchtain last ewan,
detached singleyear’s
family home builders
work on 3,830
strong per- started
units, up 35 per cent
formance from the prior year, says
over the regional economist Lai
Louie of CMHC in
next two Sing
Calgary.
years.
“Anchored by an expanding population
LAI SING
LOUIE, CMHC and growing economy
characterized by job and
wage growth, demand for
single-detached housing will remain strong
over the forecast period,”
says Louie. “As a result,
builders will maintain
last year’s strong performance over the next two
years.”
The story is much the same for
the multi-family housing market.
Louie says a rush of rental apartment construction increased by
twofold the overall figure for
multi-family construction starts
in 2010.
“Moving forward, demand for
MART Y
HOPE
multi-family units is expected to
remain strong as solid employment prospects maintain the inflow of migrants to the province,”
he says.
One little glitch here. The
strength of the 2010 market has increased the supply of multi-family
housing to a point where it will
likely affect the number of construction starts this year.
Ah, but then comes 2012 and a
turnaround. The inventory levels
will be sufficiently depleted that
the multi-family housing sector “will expand in response to
sustained consumer demand,”
says Louie in the market outlook
report.
The good economic news will
also trickle into the resale housing
market.
“The prevalence of low mortgage rates, as well as job and wage
growth, and increased household
formation will provide the major
impetus for consumer demand for
resale homes,” says Louie.
Combine all these factors with
steady but undramatic hikes to average selling prices and there is a
recipe for stability.
Provincially, sales will creep up
to 11,000 annually by the end of
2012, while the price will move up
about $14,000 from its year-end
2010 price of slightly more than
$242,000.
All of this positive news from
Calgary Herald Archive
More construction tradespeople are likely to seek Saskatchewan for work.
Saskatchewan could well affect
the housing industry here in Alberta.
How so? Well, Saskatchewan has
historically been a go-to location
for housing construction trades-
people — and with that economy
doing so well, fewer framers, roofers, cribbers and siders are likely
to come this way for work.
NEXT WEEK:
Finally. Summer, barbecues ... and
dreaming of a new home. This year’s
Stampede Rotary Dream Home offers
2,308 square feet of contemporary luxury.
The Homes by Avi model is destined for
Walden in Calgary. Read about it next Saturday.
Next Week
9
[email protected]
Everyone loves parades
CALGARY HERALD
The latest new parade of show
homes is in the far western edge of
the city.
Melcor Developments is grooming
the last piece of land available in Valley Ridge. Valley Pointe Estates is an
area west of Valley Ridge just north
of the Trans-Canada Highway.
Show homes by Landmark Homes,
Shane Homes and Reid Built Homes
recently opened. Hours are from 2
p.m. to 8 p.m. Mondays to Thursdays, and noon to 5 p.m. weekends
and holidays. Enter into Valley Ridge
from the highway, take the first left
and follow to the west end.
Another large parcel of 223 hectares immediately west of Valley
Pointe will be the next piece of land
to become a new, yet-to-be-named
neighbourhood by Melcor. Visit
www.valleypointeestates.ca
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NEW HOMES
Breaking news at calgaryherald.com
Saturday, July 2, 2011
F3
WALK ON THE WEST SIDE
Calgary Herald Archive
A drawing of pathways in Williamstown.
Williamstown by Vesta Properties Ltd. is a
unique, master-planned community on the west
side of Airdrie.
Part of what makes it unique is the natural
amenities it has to offer, as well as housing that
complements them.
To be home to more than 1,000 families at buildout, Williamstown is built with sustainability in
mind, respecting its natural environment.
Williamstown is made up of a wide variety of
single- and multi-family housing types catering to
different demographics.
The community contains more than 24 hectares
of open space, including parks, ponds, pathways,
and playgrounds, together with the 18-hectare
Nose Creek environmental reserve.
Since we have a wide range of home styles and prices to suit any lifestyle,
we have the ability to build homes that fit most families’ needs.
CURT WOODHALL, VESTA PROPERTIES LTD.
WHAT YOU
NEED TO
KNOW
Courtesy, Vesta Properties
Many single-family homes in Williamstown take advantage of the abundant green space within the Airdrie community.
FROM PAGE F1
AIRDRIE: Children
It won’t be long until the
Campbell children are of school
age.
They should be able to attend
right in Williamstown which
has recently been approved for
an elementary school that could
be open for the 2012 school year.
The Campbells are one
example of the wide range
of people buying in Williamstown, says Curt Woodhall, senior marketing manager for the
Langley, B.C.-based developer/
builder.
“Since we have a wide range
of home styles and prices to suit
any lifestyle, we have the ability to build homes that fit most
families’ needs,” he says. “From
first-timers to downsizers,
empty nesters and everything in
between, we have something for
everyone.”
Woodhall says Vesta has a
created a strong stable of floor
plans and price ranges:
n Bungalows with main-floor
master bedrooms — as well as
with double-attached, frontdrive or rear-attached garages,
and unfinished basements
— are priced from the mid$300,000 level.
n Two-storey homes from
1,403 to 2,341 square feet
with front-attached two-car
garages plus unfinished basements — some with dens,
bonus rooms, and walkout
basements — are priced from
the high $300,000s.
SEE GARAGE, PAGE F4
6 kilometers of
PROJECT: Williamstown.
DEVELOPER: Vesta
Properties Ltd.
AREA: The City of
Airdrie, a 20-minute drive north of
Calgary.
PRICES: Singlefamily homes range
from the low to high
$300,000s.
DIRECTIONS: Take
Veterans Boulevard
(Highway 567) west
and turn at Williamstown Boulevard.
HOURS: The sales
and presentation
centre is open from
2 to 8 p.m. Mondays
through Thursdays,
and from noon to 5
p.m. weekends and
holidays. It is closed
Fridays.
INFORMATION:
Visit www.vesta
williamstown.com
A duck on Nose Creek as it winds its way through the area.
”
e
right out your back door
l
y
t
s
“life
CHARLESMARK 2466 sq ft.
Show home Now opeN
• Architecturally controlled community
• Wide selection of floor plans
• 46 ft. and 48 ft. wide walkout lots available
• Single family homes
• Private docks available
• Private water access
Show Home:
2433 Bayside Circle SW, Airdrie
Anni Jansson
403.980.3105
$405,000
Bayside Blvd.
Lot, Home and GST Starting at
Ba
ysi
de
Cir
cle
2433 Bayside Circle SW, Airdrie
Bayside Link
For more information contact:
www.GenesisBuildersGroup.com
[email protected]
Hours:
Mon - Thurs: 2:00 pm - 8:00 pm
Fri: By appointment only
Sat, Sun & Holidays: Noon - 5:00 pm
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F4
NEW HOMES
Saturday, July 2, 2011
Breaking news at calgaryherald.com
COMPANY SPANS PROVINCES
Vesta Properties Ltd. is a large, integrated new home company with successful projects in both B. C. and Alberta.
Since 1989, it has created more than
1,500 single- and multi-family homes in
Alberta and the Fraser Valley of B.C.
For more information visit the website
at www.vestaproperties.com
FROM PAGE F3
GARAGE:
‘Success’
■ Single-family laned homes
between 1,332 and 1,640 square
feet with a rear-detached concrete pad or garage and unfinished basement are priced in
the low $300,000 range.
Coming out of the economic downturn, Woodhall
says WilliamCALGARYHERALD.
stown has continued to attract
buyers.
“We’ve had
great success since we
HOMES
opened the
doors — and we
■ Visit our website
continue to be
for more photos.
one of the bestselling communities in Airdrie
because of the
value we offer,”
he says.
Williamstown was officially opened in October 2009
and at build-out in three to
five years, there will be about
300 single-family homes, says
Woodhall. With sales in the
second phase winding down,
Vesta is readying for a fall
launch of its show homes for
the phase three laned homes
and fourth phase of frontattached homes.
Leah Hennel,
Calgary Herald
THE
BUYERS
Eric and Kelly
Campbell.
BACKGROUND:
Kelly is a stay-athome mom; Eric is
inside sales manager for Hunting
Energy Services.
The parents of three
young children, the
Campbells were
in the market for a
larger home. They
shopped the Airdrie
new home market
extensively before
deciding on a home
in Williamstown by
Vesta Properties
Ltd. They moved in
last October. The
couple not only
wanted a larger
home (they bought
a 2,100-square-foot
homes from Vesta)
but also wanted to
take advantage of
the natural amenities being offered
in the community,
such as the 18-hectare environmental
reserve that is the
centrepiece of the
community.
C M
/
Courtesy, Vesta Properties
The site plan for Williamstown in Airdrie detailing
the 18-hectare environmental reserve and Nose
Creek with various neighbourhoods on either side.
[email protected]
Courtesy, Vesta Properties
A streetscape in Williamstown.
BY THE
numbers
Mortgage payment
calculation chart
This table gives you a rough idea of the maximum home price you can
afford. These estimates take into account household income and down
payment amount. They assume a mortgage interest rate of 8%, 25-year
amortization, average tax and heating cost in Canada,
and the mortgage an average Canadian would qualify for, based on a
32% debt-service ratio.
Monthly investment in a
mortgage per $1,000
%
3.5
25 YEAR
=
5.01
15 YEAR
=
7.15
NOTE: This table is presented for informational purposes only and may not apply to your specific
situation; see your lending institution for detailed figures.
Household
Income/yr
10% down
payment
Maximum
home price
25% down
payment
Maximum
home price
4.0
=
5.28
=
7.40
4.5
=
5.56
=
7.65
5.0
=
5.85
=
7.91
5.5
=
6.11
=
8.14
$60,000
$19,600
$196,000
$58,800
$235,200
6.0
=
6.40
=
8.40
$70,000
$23,400
$234,000
$70,100
$280,800
6.5
=
6.70
=
8.67
$80,000
$27,200
$272,000
$81,500
$326,400
$90,000
$31,000
$310,000
$92,800
$372,000
$100,000
$34,800
$348,000
$104,400
$417,600
7.0
=
7.01
=
8.94
7.5
=
7.32
=
9.21
8.0
=
7.64
=
9.49
8.5
=
7.96
=
9.77
9.0
=
8.28
=
10.05
9.5
=
8.62
=
10.33
10.0
=
8.95
=
10.62
10.0
=
9.29
=
For example:
A $100,000 mortgage over 25 years at 3.5%
is $5.01 x 100 = $501 monthly payment
10.92
Mortgage rates
Income, home price and
down payment guide
$50,000
$15,800
$158,000
$47,400
$189,600
$120,000
$42,400
$424,000
$127,200
$508,800
$140,000
$50,000
$500,000
$150,000
$600,000
Effective June 30, 2011. Rates expressed in per cent.
Variable
Rate
6 mo. 6 mo. 1 year 1 year 2 year
open closed open closed closed
3 year 4 year 5 year
closed closed closed
Bank of Montreal
c 2.850
6.300 4.450
6.300 3.500
3.850
4.250
4.890
5.390
Bank of Nova Scotia
c 2.500
6.450 4.550
6.500 4.300
3.950
4.550
4.990
5.390
3.200
3.600
3.600
3.740
3.840
Chartered banks
Bridgewater Bank
-
CIBC Mortgages
c 2.850
6.700 4.450
6.350 3.500
3.850
4.350
4.990
5.390
Canadian Western Bank
c 3.000
6.450 4.450
6.350 3.500
3.850
4.350
4.990
5.390
HSBC Bank Canada
c 2.800
6.200 4.450
6.350 3.600
3.950
4.450
4.990
5.390
ICICI Bank Canada
c 2.350
-
-
-
3.150
3.650
3.740
4.050
4.140
ING Direct
c 2.250
-
-
-
3.190
3.590
3.690
3.690
3.890
Laurentian Bank
c 2.850
6.500 3.500
3.850
4.350
4.990
5.390
Manulife Bank
3.500
National Bank
c 2.850
President’s Choice Fin’l
c 2.350
Royal Bank
c 2.800
TD Canada Trust
c 2.850
-
6.700 4.400
-
-
4.450
4.000 3.000
3.450
3.600
3.700
3.800
6.700 4.450
6.300 3.500
3.850
4.250
4.890
5.390
-
6.040
6.300 4.450
-
4.450
3.240
3.600
3.740
3.740
3.940
6.300 3.500
-
3.850
4.350
4.990
5.390
6.500 3.600
3.950
4.250
4.890
5.390
Trust Companies
Concentra Financial
-
6.700 4.450
6.450 3.500
3.850
4.350
4.990
5.390
Equitable Trust
-
6.300
-
6.300 3.500
3.850
4.350
4.990
5.390
FirstLine Mortgages
c 2.800
-
4.750
-
3.390
3.850
4.090
4.190
4.190
Home Trust Company
-
-
-
-
3.090
-
3.650
-
3.790
5.390
Investors Grp Trust
3.950
4.350
4.990
Peace Hills Trust
c 2.650
-
-
6.000
-
3.500
3.750
4.350
4.990
5.340
ResMor Trust
-
-
-
-
3.890
-
3.740
-
3.840
6.500 4.550
6.500 3.600
Other institutions
ATB Financial
c 2.600
6.300 4.450
6.300 3.500
3.850
4.250
4.890
3.540
-
6.300 4.450
6.300 2.390
3.850
3.690
3.890
3.490
$160,000
$57,600
$576,000
$172,800
$691,200
First Calgary Financial
First National Financial
c 2.250
$180,000
$65,200
$652,000
$195,600
$782,400
London Life
c 2.650
$200,000
$72,800
$728,000
$218,400
$873,600
Figures are rounded to the nearest $100
-
Macquarie Financial Ltd. c 2.800
-
4.450
6.500 4.550
-
-
3.090
3.450
3.550
3.690
3.790
6.500 3.600
-
3.950
4.350
4.990
5.390
-
3.700
3.690
3.890
-
3.500
Variable rates are open unless indicated by a ‘c.’
This table was prepared by CANNEX Financial Exchanges on June 30, 2011. For current rates, please visit the CANNEX website at
www.cannex.com. All rates are for informational purposes only, and should be confirmed by the company quoted.
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