Calgary Real Estate: Very unique idea for infill in Altadore an inner city neighborhood in Calgary

CALGARY — Thomas Ferianec has built and sold a number of infill homes in the southwest Altadore neighbourhood of Calgary.

But his latest one is “cutting edge,” he says, and “the future of real estate in Calgary” which includes an underground tunnel from the home to a home theatre underneath the garage.

“I do quite a few infills in the area and I designed it based on a couple of homes that I’ve sold in the area,” said Ferianec, of NewInfills.CA.

“Altadore is actually the hottest neighbourhood in the city right now for infills. Absolutely. Every single street that you drive down will have construction on it. Every single street. It’s close to downtown for one but it also has a lot of amenities which you don’t necessarily find in some of the neighbourhoods.”

The latest project is a two-storey infill on 48th Avenue S.W. just off 20th Street with just under 2,000 square feet. The home is being built by custom home builder Stephens Fine Homes in Calgary.

It is expected to be completed September 1 and will go on sale then for $1.25 million.

“We wanted to design a home that would cater to a market that’s looking for something that’s more of an infill-style home but with a higher quality with features you don’t normally find in these infill homes,” said Ferianec.

Those features include everything from an abundance of natural light, high ceilings and quality finishings. But it also includes a connecting underground tunnel, about 12 feet long, from a fully-finished basement to the garage where a home theatre/entertainment area exists under the garage.

The back foundation wall of the house has been pushed out, creating more square footage in the basement.

“We built it around that purchaser who probably likes to entertain and likes to have people over and really likes opulence around them. So we’ve got an Irish pub in the basement and a movie theatre underneath the garage,” said Ferianec.

“This is something that’s a little more cutting edge and unique in this market and this is the future of real estate. People are now drawn towards the inner-city. They want to shorten their commute times and they like the lifestyle of being closer to downtown.”

Lai Sing Louie, regional economist for the Prairies and Territories for Canada Mortgage and Housing Corp., said people wanting to live in a new home and close to the city core are buying infill properties.

“Buyers are willing to pay a premium for land located in the inner-city compared to the suburbs,” said Louie. “These buyers want a new home and the lifestyle downtown neighbourhoods offer. For those with a larger budget, builders are just knocking down the older home and replacing it one-for-one with a new single-detached home. New construction in the inner-city rejuvenates older neighbourhoods and tends to increase property values and economic activity.”

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