Northtowns

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https://www.youtube.com/watch?v=LB9gz_sAXrY

Developer: Minto Communities

Address: 84 St SE & 17 Ave SE, Calgary

Neighbourhood: East Hills

Number of Bedroom: 2-3

SQ Ft Units: + 1303 – 1595

Occupancy Date:  2024-2025

Starting Price: $411,990

Priced From: $411,990 – $481,990

The Opportunity

The North Towns at East Hills Crossing are launching now and include some incredible incentives including low 5% deposit options, 2-yr rent guarantee and 1-Yr condo fees to name a few.

This is a truly turnkey investment.

You can see all the details further on in this email but first let’s talk about the big picture opportunity. 

Almost every investor loves townhomes because they are so marketable both for renting out at top dollar and future resale.

The initial release of the south townhomes at East Hills Crossing SOLD OUT immediately!

There was a waitlist of investors who wanted to buy but couldn’t.

This isn’t just some marketing to entice investors to look at this project, this is the reality of housing in Calgary right now.

As of March 2023 the city of Calgary is experiencing a housing shortage, with the lowest level of home available for sale since 2006!

Vacancy rates are near 1% and all time lows as well.

Here’s the big difference to pay attention to…the population in Calgary has increased over 40% since 2006, from just over 1 million to over 1.4 million people today and this growth trend is expected to continue.

There is simply way more demand for housing than there is supply and that’s why I’m confident the project I’m going to share with you below will do very well over time.

But before I get into the project in greater detail, do you remember a time when new condos were being built in the core of downtown Toronto and selling for around $300 Per Sq Ft (PSF)?

I do, and we need to go back over 20 years or so to find those kind of prices. 

Today new construction prices in Toronto are sky-high with downtown prices well over $2,000 PSF!

That’s not a typo, a brand-new preconstruction downtown Toronto condo around 500 sq. ft. will be priced around $1,000,000! 

Calgary preconstruction prices are about 60%-70% cheaper than Toronto!

That’s why a few years ago we partnered with one of Canada’s premier developers, Minto Communities who is building an incredible brand new master-planned community called East Hills Crossing in Calgary’s SE.

The North Towns at East Hills Crossing are selling for $300 PSF, the same price downtown Toronto was selling for 20 years ago!

We are part of only a handful of Realtor’s across the country with access to the latest release of this project and our proud to share the opportunity with you, check out the details below.

Pricing starts from the low $400s and there are options for 5% or 10% deposits. That means with as little as $25,000 – $45,000 you can lock up one of these coveted homes.

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2 YEAR RENTAL GUARANTEE



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East Hills Cross – North Towns

Master-planned communities tend to experience faster growth and price appreciation than single tower buildings. North Towns is the final group of townhouses to be launched. In addition to this three of the condo towers have already sold out and the fourth and final condo tower is almost sold out.

Pricing starts from the low $400s and there are options for 5% or 10% deposits. That means with as little as $25,000 – $45,000 you can lock up one of these coveted homes.

The project will be ready in late 2024 to early 2025 and when it is complete the builder is providing a 2-Year Rental Guarantee.

During 2023, 2024 and part of 2025 your capital is going to work for you while construction is completed.

From 2025 – 2027 the developer will manage your property and rent it out to qualified tenants at no charge to you! 

Purchasers will receive GUARANTEED RENT INCOME from the developer each and every month for 24 months, even if the property is vacant!














LOCATION

The area is loaded with incredible amenities making this a perfect new neighbourhood for families and future long-term tenants.

Local Parks:
The brand-new East Hills Crossing Community Park is steps away from East Hills Crossing. Nearby is Elliston Park which features a pond, rose garden, playgrounds, picnic shelters and off-leash dog area. Chestermere Lake and Applestone Park are a close drive as well!

Shopping & Retail:
Across the street is the East Hills Shopping Centre with 880,000 square feet of amenities and services, from restaurants, to salons, daycare, a movie theatre, departments stores and more.

Schools and Daycares:
Schools for students of all ages and abilities offer excellent academic programs and are easily accessible via transit and walking. There’s also the 10,000 square foot Willowbrae Childcare Academy East Hills within walking distance for infants to preschool age children.


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FEATURES & FINISHES


Questions? Book A Call With Us

About the Developer

For more than 60 years, Minto Communities Canada has been building new homes, master-planned communities and condominiums, one home and one relationship at a time.

From condos to single-family homes, Minto Communities Canada offers homes in master-planned communities and condominiums for individuals, couples and families at almost every stage of life.

Minto Communities’ quality craftsmanship is recognized industry-wide and by every customer when they step into their new beautifully built, and superbly designed home. Minto Communities are sustainably built to lower their environmental impact and provide homeowners with a home that is healthier, more comfortable, and more energy-efficient.

 

Since their entry to the Calgary market in 2014, Minto Communities has successfully expanded into western Canada. Their dedication to the Calgary market keeps them focused on a unique approach to building communities that are sustainable, healthy and vibrant.

Minto has more than 3,500+ homes planned for development in Calgary
and surrounding area:

• The Annex, Kensington – Complete (108 homes)
• ERA, Bridgeland – Under construction (180 homes)
• ERA II, Bridgeland – Under construction (40 homes)• East Hills Crossing, Belvedere (600+ homes)
• Wildflower, Airdrie – Coming Soon (2400+ homes)
• The Annex II, Kensington (100 homes planned)

Why Invest in Calgary?




Voted
#1 most livable city
in Canada

Alberta projected to
LEAD Canada growth
up to 2027

Most affordable
living costs for any major metropolitan centre in Canada

Pro-business economy and friendly
low tax business climate
to promote growth

Oil & Gas & burgeoning Tech sector
growth & new jobs,
and economic diversification

Lowest tax rate in Canada:
No PST, land transfer tax or foreign buyers tax

Minimal
closing costs (est. under $2,000)

Rising rents and
no rent controls

Positive net migration to
Greater Calgary area


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Frequently Asked Questions

I want to purchase a unit, what are the next steps?

If you are interested, please fill out a worksheet.

How is the contract sent?

The contract will be sent via DocuSign. Clients typically have a maximum of 12 hours to sign the purchase agreement to begin the 10-day cool off period. If the agreement is not signed within 12 hours from when the contract is sent, it will automatically expire at that time.

How long do I have to decide after singing the contract?

Most developers provide a 10-day cooling off period. Anytime within and up to the 10th day, if you wish to cancel your offer you can, with any monies received by the developer being refundable back to you.

How is the deposit paid?

Each Developer will have their own deposit instructions. You can usually deliver the deposit by bank draft to a local bank branch or wire transfer the deposit funds. The wire instructions to do this will be provided when a purchase agreement is signed.
NOTE: If a deposit is NOT received within one business day of signing the purchase agreement, it will automatically expire at that time.

What is the deposit amount needed, when is it needed?

There are varied deposit options depending on the Developer and the project. Please refer to the Pricing & Deposit structure emailed to you when you Registered.

What are my condo fees?

Condo fees vary per project, check the details in the marketing materials emailed to you when you Registered for a specific project. 

When is possession?

Estimated closing date will vary depending on the project, refer to the marketing materials emailed to you when you Registered. Typically, closing dates range between 2-4 years after construction begins, but every project is unique.

Do I have to provide a mortgage approval?

Yes, and can be provided from a mortgage broker or any major Canadian financial institution.

Am I allowed to assign my purchase?

Yes, assignments are usually permitted, double check your Agreement. However, the purchaser is often responsible for any legal cost associated with the assignment estimated to be $1,000 + GST.

Do I need a lawyer in Alberta to buy a property in Alberta?

Yes, to do land title registration, the lawyer who processes the closing documents needs to be in Alberta. You can sign your closing documents from the comfort of your own home. Since the start of Covid-19, lawyers in Alberta can sign closing documents via zoom, and then you can courier them back to your lawyer in Alberta.

How does closing work when I am not there?

On closing day, a member from the Developer’s service team will usually attend the closing day walk through, identify any deficiencies and
email a copy of the warranty letter of possession for the customer to sign, to complete your enrollment of your property in the Alberta New Home Warranty Program.

What are the closing costs in Alberta on a new condo?

Your total closing cost will be around $1,350.00 dollars for a legal representative to convey your purchase in Alberta. They do not need to be physically located in Alberta but must be licensed to practice in Alberta. If you need a list of Alberta based real estate lawyers we can send you one.

Are there any hidden fees on closing?

You must always refer to your Agreement. However, most projects there are no hidden costs such as levies or transfer taxes. One big advantage in Alberta is that there is no land transfer tax or sales tax. Your purchase price does not include GST, unless otherwise noted.

My mortgage broker is inquiring about schedules, where can I find them?

Refer to the Purchase Agreement and disclosure documents provided by the Developer once you have signed you Agreement.  

Who pays utilities & how is that set up?

The owner sets up & pays for the utilities for their unit. Most utility providers require lead times of 3-4 weeks to have the transition
be smooth. The most popular services are Enmax, ATCO Gas, and Direct Energy.

What type of insurance do I need?

If you purchased a condo, or townhome, you require condo owner content insurance.
If you purchased a single family home, street town or duplex, you require full property coverage insurance.

What is the estimated property tax for the unit?

Property tax calculator for an estimate here:
https://www.calgary.ca/pda/assessment/revenue-neutral-policy-and-calculator.html?redirect=/taxcalculator

Can the Developer increase the price at closing?

You and your real estate lawyer will need to confirm this in the Agreement. Look for an escalation clause. Typically, if there is no escalation clause, the price will not increase on closing. You must verify this with your real estate lawyer. 

Can I get an update on the construction progress of my unit?

You can stay up to date with the progress of the project or your unit by visiting the developer’s website.

I need to get my unit appraised, who do I contact?

Please email the developer to arrange an appraisal.

When will I receive notice of the date and time of my possession?

We provide notice of completion 30-90 days prior to possession, via email.

What if I want to show up for my possession walk-through?

Please provide us a minimum of 30 days notice prior to possession.

How do I get my keys?

The property management company,  will take both sets of keys – one for the tenant, one for themselves. Upon
completion of the rental guarantee term, your new property manager, yourself or a representative on your behalf, will be
responsible for picking up your keys from the property management company.

My mortgage broker is looking for confirmation that the unit is registered with Alberta New Home Warranty?

If they’re looking to confirm that we have registered your unit, they can confirm and look up the builder number via the link here:
https://residentialprotection.alberta.ca/public-registry/Property

When do we need to fill out and sign New Home Warranty Insurance?

As the purchaser, you do not need to enroll for Alberta New Home Warranty. Upon possession, you will receive the warranty
certificate and builder number. Within 2 weeks from closing, Alberta New Home Warranty will send the owner a package via
email or mail.

When & how do I start receiving my rental guarantee payments?

The property management company, will reach out to you 1-2 weeks after closing to obtain your banking details and
answer any questions regarding your tenant’s lease.

Can you send me the statement of adjustment for this project?

Statement of adjustment is sent to your lawyer, and is provided up to 60 days prior to closing. Please check with your lawyer.

I’m closing soon, what should I do?

If you haven‘t already provided your Lawyer’s information, please email it to the developer.
Please reach out to your mortgage broker and lawyer to confirm all information and paperwork is ready and up to date, to ensure
there are no delays for closing.

Who manages my property after the rental guarantee is up?

You may be able to continue with the current management company that is in place. Alternatively, we have a number of highly accomplished property management companies you can speak with. Many of these companies are currently working with our clients or have worked with our Clients in the past.  You will be responsible for hiring your own property manager or managing your unit yourself. If you’re looking for a place to start your search, Rentfaster has 60+ property management companies they recommend, sorted by the number of active listings. View that list here: https://www.rentfaster.ca/ab/calgary/property-management/

Other Properties

Metroside 3

99 Shawnee Blvd SW, Calgary, AB T2Y 0P4, Canada

Developer: Graywood Developments

Neighbourhood: SW Calgary

Occupancy: 2024/2025

Deposit:  10% deposits

Starting Prices: $328,990– $555,990

Buildings: 24 Blocks

Units: 150

Bedrooms: 1, 2 and 3  

Sq. Ft Units: +531 – 1,493

Metroside 2

99 Shawnee Blvd SW, Calgary, AB T2Y 0P4, Canada

Developer: Graywood Developments

Neighbourhood: SW Calgary

Occupancy: 2025

Deposit: 5% or 10% deposits

Starting Prices: $356,990

Buildings: 24 Blocks

Units: 150

Bedrooms: 2 and 3 

Sq. Ft Units: + 638 – 922


East Hills Cross – SE4

84 St SE & 17 Ave SE, Calgary

Developer: Minto Communities

Neighbourhood: East Hills

Occupancy: 2025

Deposit: 10% of Purchase Price (5% with Bond)

Starting Prices: $299,999 – $435,999

Buildings: 1

Units: 84

Bedrooms: 1Br, 2Br

Sq. Ft Units: 558 – 678


Wildflower

403 MacKenzie Way SW #6112, Airdrie,

ABT4B 0V7

Developer: Minto Communities

Neighbourhood: Parkdale community 

Occupancy: 

Deposit: 10% of Purchase Price

Starting Prices: $675,000-$765,000

Buildings: 

Units: 

Bedrooms: 3

Sq. Ft Units: 1,926-2,586