Outlook on Marda Loop Area

[JRL]

Hi Guys,

Just wondering everyone`s take on the South Calgary/Marda Loop area in Calgary. There are a ton of re-developments going on there, and there seems to be a major pride-of-ownership increase. Would you say that this is an area in transition, or that the transition has already hit? There are some amazing homes nestled right next to some, well, "character" properties...

Should this be an area to invest in? There seem to be some good deals available and it seems like a young, hip, up-and-coming, Kensington-esque neighbourhood which is inexpensive by comparison. It`s also located directly west to Mount Royal, AKA the most prestigious residential community in Calgary. I see they`re developing 33rd Avenue with the new "Treo" commercial & residential complex, and they`re also converting the heritage King Edward School on 29th Avenue to an Adult Social & Recreation Center.

Thoughts?

 

[gwasser]

I have been looking at the area and it is very interesting in terms of amenities. Especially the farmers market. But the old Currie Barrack lands seem to be under government control - the latter are planning to possibly close the farmers market and all adjacent private schools to replace it with condo development projects. So lots of uncertainty.

I am not quite sure prices are truly cheap though, especially not around Garrison Gate, where they have build a `European Style` of community. Very attractive in terms of lifestyle but... expensive. Some condo`s are close to a 3/4 million bucks.

Although the amenities in that area are great, including a swimming pool and golf club and nice walking trails around Glenmore Reservoir, the down town connection is much poorer than West Hillhurst`s.

Just some general impressions. The area caught my eye as well, but I haven`t done any research.

 

[RedlineBrett]

Marda loop is popular amongst the young professional circles in Calgary. It boomed over the past few years because this market segment made a lot of money and didn`t want to move to the suburbs... so you saw a greater demand for infills and newer condo buildings.

People like the character and independent feel the neighborhood has. Also the commute isn`t that bad either.

But as far as being a great community for investment I feel there are areas in town where your money would be better spent.

I own property in ML and rents are similar to room rates for the SW and close to DT like the lower mount royal and bankview areas. Typically a much younger, trendier (and CHEAP) renter than in other communities further out where the $/ft2 numbers are better.

If you still want to buy there then consider a townhouse with a garage rather than a condo or a detached home.