Isaac Beall, senior director of development at Anthem Properties Group Ltd. (Courtesy Anthem Properties Group Ltd.)
Vancouver-based real estate company Anthem continues to be bullish on the Calgary market and needs-based retail, launching two new shopping centre projects in the region to service growing residential communities.
The firm also announced the acquisition of the 300,612-square-foot Junction Shopping Centre in Mission, B.C. The grocery-anchored, tier-1 property was acquired in partnership with Crestpoint Real Estate Investments.
“Calgary is a core market for Anthem. It is a great city, with great people. It is affordable, has a well-educated population and is a better deal for families, all in, than Toronto or Vancouver,” said Isaac Beall, Anthem’s senior director of development, during an interview with RENX.
“It will grow and Anthem will continue to build homes, develop new communities and lease up commercial and industrial spaces to those people requiring it.”
Anthem’s D’Arcy Crossing and Highstreet at Cornerstone
The two new shopping centres – D’Arcy Crossing and Highstreet at Cornerstone – are being developed by Anthem Properties for the communities of D’Arcy in Okotoks, just south of Calgary, and Cornerstone in Northeast Calgary.
Those residential neighbourhoods are being developed by Anthem United.
The D’Arcy Crossing shopping centre, with Safeway as an anchor tenant, will also include Shoppers Drug Mart, a liquor store, restaurants, coffee shops and other businesses to service the daily needs of Okotoks-and-area residents. It will be the largest commercial centre in North Okotoks at 151,000 square feet and is scheduled to open in the spring of 2023.
The shopping centre will have more than 40 businesses when completed.
Beall said the northern part of the town has more than 60 per cent of Okotoks’ total population. D’Arcy is a 280-acre community that launched in 2018 bordering the D’Arcy Ranch Golf Club.
Once completed, it will have more than 2,200 homes. About 300 homes have already been built in the community with full buildout expected by 2026.
Anthem is also building the neighbouring community of Wedderburn in Okotoks, which will include about 1,300 homes on completion, which is also expected by 2026. So far 50 new homes have been built.
Highstreet at Cornerstone, which will be 139,000 square feet, is under construction off Country Hills Boulevard and 60th Street N.E. It is scheduled to open in spring 2023. (Courtesy Anthem Properties Group Ltd.)
Cornerstone is a 1,100-acre community launched in 2015. It will comprise about 9,500 homes on full buildout by 2030, with 1,500 already built.
The new shopping centre, which will be 139,000 square feet, will feature a new Chalo! FreshCo and a Shoppers Drug Mart. It is under construction off Country Hills Boulevard and 60th Street N.E.
It also is scheduled to open in spring 2023.
Quickly growing Calgary neighbourhoods
The Cornerstone shopping centre will be a regional draw for other residential communities in the area which includes Redstone, Cityscape and Skyview Ranch – newer neighbourhoods built in the northeast part of the city in recent years.
“Eight years ago, there was nothing. Redstone was just starting and there are now 35,000 people that live there,” said Beall. “It’s staggering. There are so many homes up there it’s absolutely shocking.”
Calgary has been an integral part of Anthem’s business in recent years. The company has developed or has slated for development 4,100 acres in Calgary, Chestermere and Okotoks.
It also has about 513,000 square feet of existing retail and commercial space.
Anthem’s North American presence
Anthem, founded in 1991, has more than 270 residential, commercial and retail projects across Western North America.
Its portfolio includes 15,000 homes completed, in design or under construction, from master-planned, mixed-use and multiresidential, to townhome and single-family communities.
It also owns, co-owns, manages or has previously owned more than eight million square feet of retail, industrial, residential rental and office space.
The company is bullish on Calgary due to affordable real estate, lower taxes, great social and physical infrastructure and the fact people will be moving to the province.
It currently has eight active residential communities in the area which includes Cornerstone, Glacier Ridge in the northwest, Belmont in the southwest, Pine Creek in the southwest, Sirocco in the southwest, Wedderburn in Okotoks and Chelsea in Chestermere.
Some of Anthem’s other communities also have commercial components planned for future phases, but D’Arcy and Cornerstone will be the first to open. They are also the first commercial centres in its land developments to be developed and built by Anthem.
“The No. 1 amenity for all of these residents is grocery,” said Beall, “and part of our business model going forward is to provide that amenity.”
The format for successful retail
Beall said a grocery-anchored shopping centre is the hub and the heart of a community and increasingly so during the current pandemic.
“That type of retail format we have a lot of confidence in, because our paradigm has always been food, booze and drugs when it comes to these centres. People need grocery stores. They need drug stores to get their medications and a liquor store,” he said.
“It’s sort of the prototype piece of critical amenities that communities want, and around that you provide that finer-grain service.
“You add some doctors in. You add the quick-service food and the hair salons and dentists. It’s a sort of tried-and-true recipe and we like to keep that within the community.
“Also from a sustainability standpoint. We try to integrate them in in a thoughtful way as opposed to dropping them in a field in the middle of nowhere so it keeps people from having to travel far distances to have those needs met.”
Beall said there is a need to tread carefully because not every community can support a shopping centre. A critical mass is needed, but wherever possible Anthem will pursue the opportunities.
“At the end of the day, it’s always the grocery store that drives the bus. We’re at the mercy of grocery tenants. Fundamentally their target trade area that most grocers look for is a population within their catchment in excess of 30,000 people,” said Beall.
“That’s sort of the magic number where a store starts to make sense, where they can draw enough shoppers in.”
The Junction Shopping Centre acquisition
The Junction Shopping Centre in Mission includes about 40 tenants and is located at the intersection of the Lougheed Highway and the Abbotsford-Mission Highway about 70 kilometres east of Vancouver.
Anchored by Save-on-Foods and London Drugs, the regional shopping centre has a diverse roster of ancillary tenants including Winners, Cineplex, Goodlife and Starbucks.
The tenant mix is tailored to local demographics providing a mix of daily needs retail which also includes liquor, financial services, health and personal care, entertainment and discount retailers.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
