Cornerstone leads duplex demand in Calgary
The Kingston Whig-Standard, 2018/09/23
Builders in north Calgary communities have led the demand for new duplex construction in the city this year.
The three most active areas for permit applications to build duplexes between Jan. 1 and the end of August are all master-planned communities on the north end of Calgary, says the city’s planning and development department.
Cornerstone, a community by Anthem United and Walton Development and Management, located just east of SkyView Ranch, topped the duplex permit application tally during this time with 80.
Companies building duplexes in Cornerstone include Shane Homes and Morrison Homes.
“In addition to the affordability piece, we’ve seen a lot of interest in the basement suiting opportunities that Cornerstone’s zoning affords,” says Sam Hudson, Morrison’s director of marketing. “This has attracted new homeowners and investors interested in income generating possibilities.”
Cornerstone was followed by Carrington in northwest Calgary with 62 and Redstone by Qualico Communities in the city’s northeast quadrant with 40. Carrington is an area with multiple communities currently developing with in, including one by Genstar Development Co., and another by Mattamy Homes.
“Duplexes have become so popular within recent years simply because many models offer the same amount of living space as a single-family home, but at a (lower) cost,” says Stephanie Chapman, communications and marketing specialist for Excel Homes, which is one of the builders of duplexes in Genstar’s Carrington.
“With the introduction of the new mortgage rules many people have felt the difficulties of qualifying for a mortgage, which means they’re having to drop their price point in order to buy a home of their own,” she adds. “With so many great options and upgrades to choose from, it’s easy to make a duplex feel luxurious and comparable to a detached home.”
From there, the strongest demand came from two communities accessed off 52nd Street S.E. Eight months into 2018, the lake community of Mahogany by Hopewell Residential, and the mixed-use district of Seton by Brookfield Residential recorded 38 applications to build duplexes apiece, says the city.
This article originally appeared on The Kingston Whig-Standard.