Calgary Neighbourhoods

[PlanZ]

Hey guys, long time lurker. So much great info on this forum.

I'm a born and raised Calgarian currently living in the beautiful Okanagan but looking at moving back to Calgary in about a year and looking at buying an condo. My budget would be ~$300 000.

I know a lot of the inner city is represented on this forum and I'd love to hear about your community. Pros/cons, value, ameneties, up and coming, built out, potential hidden gems, etc.

So, where do you live, what do you like about it, what do you dislike about it, what other neighbourhoods would you like to live in?

Cheers

[geotag277]

What would be your expectation for a 300k condo in the inner city (bedrooms, sqft, etc)? That may help direct the conversation around specific neighbourhoods.

[RWin]

Properties can go fast so by the time I post these they may be gone But if I was in the market for a condo, I like these ones:

Old but kinda cool
http://beta.realtor.ca/propertyDetai...rtyId=14287639

Building isn't spectacular but decent floor space
http://beta.realtor.ca/propertyDetai...rtyId=14474097

One thing I like about the older ones is they seem to be larger:
http://beta.realtor.ca/propertyDetai...rtyId=14467894
http://beta.realtor.ca/propertyDetai...rtyId=14513247
http://beta.realtor.ca/propertyDetai...rtyId=14388875

Actually, these really surprise me. Obviously I'd have to see them in person but I don't think I'd bother buying a new one.

[geotag277]

For up and coming neighbourhoods consider Sunalta and Bridgeland.

Sunalta you can get a nice discount just for being on the other side of 14th ave:

http://beta.realtor.ca/propertyDetai...rtyId=14371784
http://beta.realtor.ca/propertyDetai...rtyId=14519712
http://beta.realtor.ca/propertyDetai...rtyId=14311530

The area generally has a lot of potential for redevelopment.

Bridgeland is also prime for redevelopment, and the on going East Village plan with all the cranes in the air will only help the feel of the neighbourhood:

http://beta.realtor.ca/propertyDetai...rtyId=14427179
http://beta.realtor.ca/propertyDetai...rtyId=14401136
http://beta.realtor.ca/propertyDetai...rtyId=14432864

[RWin]

Originally Posted by geotag277

For up and coming neighbourhoods consider Sunalta and Bridgeland.

Bridgeland is also prime for redevelopment, and the on going East Village plan with all the cranes in the air will only help the feel of the neighbourhood:

http://beta.realtor.ca/propertyDetai...rtyId=14427179
http://beta.realtor.ca/propertyDetai...rtyId=14401136
http://beta.realtor.ca/propertyDetai...rtyId=14432864

I like these Bridgeland ones. Not really a fan of the "curb appeal" on the middle one but the interior looks good.

Again, the older ones seem to have a lot of floor space.

[suburbia]

Originally Posted by geotag277

Bridgeland is also prime for redevelopment, and the on going East Village plan with all the cranes in the air will only help the feel of the neighbourhood:

http://beta.realtor.ca/propertyDetai...rtyId=14427179
http://beta.realtor.ca/propertyDetai...rtyId=14401136

Amazing how much more you get in a row house:

Unit 1 - Apartment condo

Price: $279,900
SF: 835
Parking: Stall
HOA: $429/mth

Unit 2 - Row house condo

Price: $208,888
SF: 1,129sf
Parking: Attached garage
HOA: $129/mth

[nick.flood]

delete

[suburbia]

Originally Posted by PlanZ

Hey guys, long time lurker. So much great info on this forum.

I'm a born and raised Calgarian currently living in the beautiful Okanagan but looking at moving back to Calgary in about a year and looking at buying an condo. My budget would be ~$300 000.

I know a lot of the inner city is represented on this forum and I'd love to hear about your community. Pros/cons, value, ameneties, up and coming, built out, potential hidden gems, etc.

So, where do you live, what do you like about it, what do you dislike about it, what other neighbourhoods would you like to live in?

Cheers

Your HOA expectations should probably be clear also. $300K with an HOA of $150 is different from $300K with an HOA of $600. Covered / underground parking versus stall is also a big Q.

[PVG-YYC]

well, with 300k budget in inner city, you could score either:

1. brand new 1 bed room
2. 20-40 year old 2 bed room apartment

depend your preference and lifestyle, let us know what you are looking in a condo or your preferred lifestyle, we could give you opinions based on that.

[MalcolmTucker]

Condo fees are going up as reserve fund studies are done for the first time or updated to reflect current interest rates and construction costs. Instead of discounting higher fee condos, if you like the building put the offer in and look at the condo docs. As long as the building doesn't have a pool, usually you are receiving value for the fee, unless there were recent envelope issues. Some buildings in the beltline still have common electricity for example.

[suburbia]

Originally Posted by MalcolmTucker

Condo fees are going up as reserve fund studies are done for the first time or updated to reflect current interest rates and construction costs. Instead of discounting higher fee condos, if you like the building put the offer in and look at the condo docs. As long as the building doesn't have a pool, usually you are receiving value for the fee, unless there were recent envelope issues. Some buildings in the beltline still have common electricity for example.

Good points regarding HOA fees. If there is a lot included, it might make sense.

A swing of $300 from one unit to another is not negligible. That's like $80K or so on a monthly mortgage payment I'd guess (so difference between being able to afford $300K and $380K).

Originally Posted by MichaelS

One neighbourhood to consider might be Windsor Park. It has quite a few condos on the south edge (between 58th and 56th Ave) and is across the street from Chinook Mall. It also has great transit connections (the #72/73 on 58th ave, #3 on Elbow Dr) for much of the city, and the Britannia Plaza area is turning into a great hub with a couple of new mixed use projects under development.

Great area, but wouldn't that be virtually a suburb? Going the other direction, that would be north of McKnight.

[MalcolmTucker]

The $600 fee buildings in the beltline usually have a pool, at least during my spring condo search. The building I bought into I am just north of $400 for 800 square feet and 2 assigned underground spots.

[PVG-YYC]

Originally Posted by geotag277

I think Evolution one bedrooms are probably over his budget. They are actually pretty expensive. Verve or First in East Village might be an option.

Also it depends on your time frame to move here, but Park Point won't even be selling until 2015, so is several years away from being move in ready.

Timing is everything
you can always get newer built condos for under 300k
http://beta.realtor.ca/propertyDetai...rtyId=14219608
But I do not see these often.

Originally Posted by sync

LOL! well, rich parents...

Originally Posted by MalcolmTucker

The $600 fee buildings in the beltline usually have a pool, at least during my spring condo search. The building I bought into I am just north of $400 for 800 square feet and 2 assigned underground spots.

2 Parking spot? That's pretty good. 1 bdr usually around 600sqft, so condo fee should be in the mid 300s.

[MalcolmTucker]

Originally Posted by PVG-YYC

Timing is everything
you can always get newer built condos for under 300k
http://beta.realtor.ca/propertyDetai...rtyId=14219608
But I do not see these often.

That is a studio unit, been sitting on the market a long time. Doesn't look like it has in suite laundry either, which impacts resale. Units at around the $300 mark in Vantage Pointe were common earlier in the spring.

Really depends what you want to do with your unit. Personally I feel more square footage is a better hedge than buying in a newer building, as newer units will converge with older over time. To maintain the value spread attributed to a newer building you will either have higher condo fees to make sure your amenities don't get out of date, have a need to renovate your unit.

Not every old building is Rocky Mountain Plaza/Court, where you can see the floors aren't even plum in the hallways.

[PVG-YYC]

Originally Posted by MalcolmTucker

That is a studio unit, been sitting on the market a long time. Doesn't look like it has in suite laundry either, which impacts resale. Units at around the $300 mark in Vantage Pointe were common earlier in the spring.

Really depends what you want to do with your unit. Personally I feel more square footage is a better hedge than buying in a newer building, as newer units will converge with older over time. To maintain the value spread attributed to a newer building you will either have higher condo fees to make sure your amenities don't get out of date, have a need to renovate your unit.

Not every old building is Rocky Mountain Plaza/Court, where you can see the floors aren't even plum in the hallways.

I like shinny stuff

[freeweed]

Does that literally mean "Cash"? Why would a seller care where the money comes from, so long as they're paid the full value for the property? Surely it's in the form of a cheque or bank transfer anyway?

I honestly don't understand real estate. Do people state that because they don't want a purchase that is contingent on financing?

[DizzyEdge]

I live in Mt Pleasant just a few houses west of the border with Tuxedo. This whole "North Hill" area is an area in transition. When I first moved here 10 yrs ago I recall that both Tuxedo and Mt Pleasant where about 50:50 renters to owners, with T a bit more renters and MP a bit more owners. Since then though infills have been coming in quickly, the past 4 or 5 months were the first time in 5 years on my block where a house wasn't under construction, and last week they put up fencing around another small old house. Back in the era of the oldest housing in the area (~1912) this area was the very edge of town, in the 1920s there was no development really past 24th ave other than near centre by the streetcar. Rhere wasn't really much in the way of commercial like you have in places like Bridgeland, "Kensington", etc so although there are some interesting places to walk to, to turn the area into a place with strips of retail requires redevelopment. Luckily that appears to have JUST begun, with a new retail/office building 3/4 at 2nd st and 16th ave NW, and a condo being built around 22nd and Centre, with more planned.

I wouldn't worry about the NCLRT, in lower tuxedo you are a 10-15 min walk away from 7 different bus routes, with rush hour frequency on Centre being every 3-10 mins depending on whether you're picky which route you take downtown. Like Rusty said you can walk downtown, it's about a 30 min walk from the middle of Tuxedo (N/S) to Chinatown.

Anyway, I like the area for how close it is to downtown and how close it is to major roads, but I just find I tend to leave the community to go for a beer/coffee/meal, and although that's improving I feel like in 5 years it will be noticeably better and maybe a lot better in 10. In the past year or two 2 decent pubs, a new restaurant (The Block) and the first espresso cafe to get good reviews have opened in the area, so things feel like they're starting to shift.

[gantenbein]

Originally Posted by DizzyEdge

I live in Mt Pleasant just a few houses west of the border with Tuxedo.

I've figured as much from previous posts, but we really are close neighbours: I'm about 3/4 of a block east of the Mt. Pleasant/Tuxedo border on 19th Ave.

[DizzyEdge]

Originally Posted by gantenbein

I've figured as much from previous posts, but we really are close neighbours: I'm about 3/4 of a block east of the Mt. Pleasant/Tuxedo border on 19th Ave.

Balmoral represent.

[Jimby]

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