JUST LISTED 104 509 21 AVENUE SW in Calgary. See details here

Just a half block from 4th Street Mission District and 4 blocks from 17 Avenue, this two bedroom , two bath suite in a concrete building is perfect for those who embrace the "10" minute lifestyle. This freshly painted suite is spotless, offering numerous features including granite counters in the kitchen and baths, stainless appliances, mocha stained cabinetry, 9 foot ceilings, updated hardwood flooring (2015), gas fireplace, custom window coverings, air conditioning, large covered patio with BBQ gas line, and exterior door to provide direct access to the suite. The sleeping areas are separated by the main living area. The primary bedroom has a walk-through closet next to an ensuite bath. The spacious in suite laundry room provides ample extra closet space. A storage locker is adjacent to the titled, underground parking stall. This concrete, sprinklered, 23 suite complex permits small pets with board approval. The condo fee includes all utilities except suite electric, phone, and cable. Available for October occupancy.

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MAY 2022:  Since the collapse of world energy markets in 2014, downtown Calgary has been in transition.  During the peak times, rates of parking downtown were some of the highest in North Amercica.  Those rates plummeted, in tandem with sharp increases of vacant prime office space.  The pandemic further exacerbated the decline in activity in Calgary's core. "Downtown office vacancy rates sat at 29.7 per cent in the final months of 2021". 

To reverse the blight and utilise empty buildings, Calgary is transforming commercial buildings into residential space.  The City of Calgary embarked on a plan and financial contribution for retrofitting three towers, providing 401 residential units.  Faced with a challenge, Calgary is being proactive to revitalise its downtown.  The method developed for Calgary to identity buildings suitable for retofits, is now being applied to convert commerical space in several US cities. 

READ MORE The office spaces transforming into luxury apartments

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APRIL 2022:   Housing sales in Calgary for the first quarter of 2022 continue to exceed expections, breaking levels and records not seen since for almost a decade. As we head into spring, April and May typically are months when listing and sale volumes increase. The question remains, how much longer will extreme seller's market conditions willl prevail? 

Given the strong demand for housing in early 2022 and growing headwinds from rising mortgage interest rates, the pace of sales is excepted to slow.  However, housing affordability has become an advantage to Calgary sellers, often attracting out-of-province buyers who are priced out of markets such as Toronto, Vancouver, and Victoria.  This demand is combined with a rebound to the energy industry, a growing tech sector, and increasing international immigration.  Calgary could be on track for a sustained period of growth and rising property values.  

READ FULL REPORT 1st Quarter 2022 Statistics, Calgary Real Estate Board

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