Vesta Properties is bringing "luxury urban" low-rise housing to Airdrie, Alta., with Monarch condos, a project it is constructing in the Cooper’s Crossing community just outside Calgary.

The Langley, B.C.-based builder-developer, which specializes in master-planned communities, is constructing 108 one- and two-bedroom units across two four-storey buildings connected by an elevated walkway on the third floor.

Part of a Vesta collection named Elevate, the condo will be adjacent to a 72-unit townhome site and a gated bungalow community of 40 units. It will join Vesta’s current projects in Airdrie, rental apartment building Central and the 70-acre master-planned community South Point, and completed projects Luxstone, Stoney Creek and Williamstown.

Monarch will be unique in Cooper’s Crossing as the first multifamily building to date, a standout among the mix of single-family and semi-detached homes in the community being developed by WestMark Holdings, a local Airdrie developer. It will also be the first for-sale multifamily building available in Airdrie since 2018.

Historically focused on single-family type homes, the rising demand for higher-density product in Canada has shifted Vesta’s attention, a change it is realizing with Monarch, A.J Van der Linden, the sales manager for Alberta, told RENX Homes in an interview.

“This was a great opportunity for us to bring a different vision for a product type into the Airdrie market again.”

A focus on being spacious and luxurious

Vesta has a good relationship with Westmark, he said, and when the opportunity for a site zoned for multifamily came to Vesta, the company was “all over it”.

Delivering abundant floor space and luxurious finishes are Vesta’s priorities for Monarch, with condos sized similarly to its single-family homes and larger multifamily projects.

The one-bedroom-plus-den units will be in the 670 to 820 square foot range; the two-bedroom units designed to vary from 830 to 890 square feet; and the two-bedroom-plus-den suites planned to be 890 to 1,200 square feet.

Over 4,000 square feet of amenities will include: a lounge space, a party room, a yoga and relaxation space, a gym, a pet-washing station, and a conference room to meet the needs of remote workers.

“We made sure that all of our units that we built were made for the demographics that are moving in to it,” Van der Linden said. Vesta is aiming for a condo that can serve as a comfortable transition from single-family homes or townhouses, without having residents feel cramped or that they gave up certain luxuries.

Over half of the units have been bought since the launch last summer. The one-bedroom-plus-den units units have been popular among young professionals and first-time homebuyers who cannot afford housing in Calgary, Van der Linden said. Those are priced from the low-$300,000s.

The two-bedroom units, including the den suites, have attracted the most attention. Downsizers and empty nesters who want to stay in Airdrie and Cooper’s Crossing have shown the most interest – 70 per cent of the units sold so far have been two-bedrooms.

Prices for the standalone two-bedroom units are in the high-$300,000 to low-$400,000 range, and starting from $400,000 for the two-bedroom-plus-den units.

Vesta is aiming to have construction on Monarch finished in late July, with occupancy anticipated for the fall.

Amenities for Monarch

Across the street from Monarch will be Cooper’s Town Promenade, a commercial area planned to feature dining, retail and health-related businesses and services.

Vesta has its own master-planned commercial project, South Point Village, east of Cooper’s Crossing. South Point Village is to consist of over 415,000 square feet of mixed-use commercial space. The first businesses will open this summer, Van der Linden said.

Airdrie lies on Highway 2 to Calgary but commuters should not feel left out: there are two express bus lines for commuting into downtown Calgary, and the city has been expanding its public transit service, Van der Linden said.

Cooper’s Crossing will be a short walk from the South Airdrie Terminal, the city’s main bus depot.

The final foundations for the other two Elevate projects are anticipated to be set in May, and for construction to be finished by the end of the year.

Vesta's other Alberta projects

While based in Langley, Vesta has taken a particular interest in Alberta because of the favourable business conditions and the larger parcels of land it can acquire for master-planned communities in Alberta compared to B.C., Van der Linden said.

Around Calgary, the company has several other major projects in development:

• Copperstone, a 70-acre community of 448 single-family homes and townhomes, on its final phase.
• Aspen Village, a master-planned community, planned to feature over 70,000 square feet of commercial space and offer one- to three-bedroom condo plans across 15 six-storey apartments with over 1,200 units. Sales are anticipated to start this summer.
• Broadway on 17th, which Vesta is “ecstatic about” according to Van der Linden. A three-tower high-rise project in downtown Calgary, it will offer approximately 1,000 residential units.