Skylar Townhomes add affordable inventory to top-heavy market
Chestermere, AB – The City of Chestermere is working hard to balance housing affordability and sustainability in the lake community with a developer-friendly attitude and policies that will, in the long-term, benefit everyone – including potential homebuyers.
The community of just under 21,000, only a few kilometres from Calgary’s eastern edge, has long been known for its cottage lifestyle, albeit one that came with a fairly hefty price tag.
“One of the things brought to our attention as a new council is the need to focus on getting more diversity of housing available, so people of all ages can live here,” said Chestemere Mayor Marshall Chalmers.
The city has grown 34 per cent since 2011, but is still smaller than other bedroom communities like Cochrane, Okotoks and Airdrie, likely due to the higher average price of a single family home in Chestermere and the lack of any other options.*
The average absorbed price of a single-family dwelling in Chestermere in December 2018 was $672,800. The median household income in the 2016 civic census was $134,101.
Compounding the affordability equation for many buyers is that single-family homes are the only option in Chestermere.
According to Canada Mortgage and Housing Corporation statistics, nothing but single-family homes were built in 2018.
There were 50 single-family homes at some stage of construction in February 2019, but no multi-family start since a single duplex was started in June 2017 and the last row home project was 27 units started in September, 2016.
The Skylar Townhomes, recently launched in Kinniburgh, add 58 units to the market and are the first multi-family homes started in Chestermere in nearly three years. With a starting price tag of under $300,000, the town homes are below the local new home average.
The project, by Alture Properties, is located at 248 Kinniburgh Boulevard, just three blocks off the lake. It will feature two and three-bedroom homes ranging in size from 1,240 to 1,700 square-feet and priced from $277,880 to just over $351,000. When complete, the site will include a courtyard and will be fully landscaped.
“Six townhomes have been completed and are currently for sale,” said Calvin Buss, president of Buss Marketing, the company in charge of marketing for Skylar Townhomes. “The development fills a niche for the Chestermere market. The 58 Skylar Townhomes are the only new townhouse inventory on the market and an exceptional value because of the low cost of the land.”
For young couples and families who are looking for a lakeside lifestyle but don’t want to live in Calgary, Chestermere just became a legitimate alternative. It’s an amenity-rich, family-friendly community with quick access to Calgary. Plus, it’s the only community in this area where power watercraft are permitted.
“We’ve been shown where the gap is and we’re encouraging developers to help in serving our residents,” said Chalmers. “It’s clear we have to start focusing on the diversity of housing, whether it’s secondary suites, live/work scenarios or townhomes. Affordable housing and senior housing are important so that entry level buyers and downsizers can choose to live here.”
The City’s Strategic Plan includes projected growth to about 50,000 population over the next 25 years.
The Skylar Townhomes show suite and sales centre is located at 248 Kinniburgh Blvd., on the east side of Lake Chestermere.
To view the media kit for Skylar Townhomes, please click here
About Skylar Townhomes – Skylar Townhomes aims to provide the best value possible in the best location possible. Interior finishings are highlighted by an open concept design with nine-foot ceilings, luxury vinyl plank flooring, quartz countertops and stainless steel Whirlpool appliances. A full-height four-by-16-inch glazed tile backsplash adds even more style to the gourmet kitchen. All Skylar Townhomes have their own outdoor space as well as access to the huge central courtyard.