News & Market Updates

Canmore is Alberta's Top Recreational Property Market


The recently released Royal LePage Winter Recreational Property Survey 2019 once again identifies Canmore as Alberta’s go-to recreation and retirement community.

The town, about 45 minutes west of Calgary city limits, is nestled in the Bow Valley, in the shadows of the Three Sisters mountain range and has added affordability to its attractiveness. According to Royal LePage, the single-family median price declined two percent year over year, while the median condominium price dipped 2.8 percent to $479,000.

“The modest decline in median price reflects more sales of smaller condo units as builders seek to meet buyer demand for relatively more affordable properties. This shift in the inventory mix offers new opportunities for buyers who thought they were priced out of the market,” said Brad Hawker, managing broker, Royal LePage Rocky Mountain Realty.

In the heart of Canmore is Spring Creek, a growing, village-inspired community with a variety of home styles, as well as a hotel, local pub, liquor store and more retail outlets planned in the future.

The Tamarack is the fourth condominium building introduced in Spring Creek in the last three years and has been well-received since its launch in October, with 75 percent of the homes now sold.

The four-storey building features 80 homes, in a unique layout and the opportunity to lease units to visitors.

“The community layout sets this building apart with a uniquely grand entrance. A broad, scenic road that leads to the Tamarack is designed to feel like approaching a luxury hotel,” says Ross Jansen, director of sales, Spring Creek Real Estate. “Tamarack is split into two distinct wings: The Lofts at Tamarack and the Residences at Tamarack. As a nod to its picturesque surroundings, textures and finishes offered within these homes are nature-inspired.”

The new lodge has a Tourist Home permitted use, one of few developments that currently possess this designation in Canmore.

“With this zoning, condominiums are permitted to be used as either a permanent residence or for short-term stays,” says Jansen. “Homes without this designation and rented for terms shorter than 30 days may face a fine starting at $2,500.”

Floorplans range from 720 sq. ft. to 2,331 sq. ft., in single- and two-storey formats, with one, two and three bedrooms.

“The Tamarack will also include ground-floor commercial development and amenities such as a fitness space steps away the jacuzzi hot tub and spa area,” says Jansen. “Occupancy is slated to start in late 2021.”

For those not keen on vacation rentals, Jack Pine Lodge is an option.

“It will be completed in 2020,” says Jansen. “Homes have a spa-inspired ensuite, rock fireplace, oversized gourmet kitchen with granite countertops, upgraded finishings and hardwood floors in all living spaces. Amenities include a garden hot tub, underground heated parking and geothermal heating and cooling.”

When the Tamarack is completed, Spring Creek will be about 50 percent complete, an important milestone, says Frank Kernick, president, Spring Creek.

“The thoughtful planning that went into this community is taking shape and it’s exciting to see,” says Kernick. “Demand continues to be high for the enriching lifestyle and gorgeous, expertly-appointed homes we offer at Spring Creek. Our residents love the sweeping views of the Rockies, and close proximity to downtown Canmore and all of its terrific places to shop and dine.”

Article by: Calgary Sun

Categories: Real Estate News, Local News

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