Calgary has many hidden or overlooked neighbourhoods that you may want to reconsider if you’re looking for a unique property to live or invest in. Case in point is Ramsay – one of Calgary’s oldest, most diverse and dynamic communities.
Yeah I know, some of you may turn up your nose at the mention of Ramsay and think of dilapidated rentals and high crime rates. Well, maybe 25 years ago that was partially true. But not so much anymore. Ramsay is fast becoming a highly sought after community, within minutes of downtown, the Scotiabank Saddledome, the quickly evolving East Village, Deerfoot and Blackfoot Trails and both major rivers in Calgary.
Ramsay is home to about 2000 residents and many small businesses, including the bustling shops and restaurants of nearby Inglewood. Scotsman’s Hill has a great view of the city and the mountains, not to mention the best vantage for the Stampede fireworks! It also boasts an outdoor ice rink, baseball diamond, tennis court and quick access to the city’s extensive pathways and Fort Calgary.
If you drive or walk through Ramsay you will quickly notice the variety of homes. Many of the early 20th century houses have been lovingly restored and upgraded and they are interspersed with brand new gorgeous infills, estate homes and yes, some good quality rental properties. There’s something for everyone.
Those who live in Ramsay absolutely love it and say its a community where you get to know your neighbours and get involved in their very active community association. The City is doing its part to revitalize Ramsay, too. With more than 20 projects under consideration or under construction, Calgary is investing a projected $200 million to keep it safe, beautiful and vibrant. From replacing century-old bridges to upgrading public space, implementing new transit service to building new playgrounds, there’s a lot going on in Ramsay and area.
A newly-prosed Green Line LRT is also being planned through Ramsay, leveraging its closeness to existing CPR tracks in the area and giving residents more transit options. For more information, click here.
It’s also still a reasonably priced neighbourhood and a great place for the savvy real estate investor. In just over 10 years the benchmark price for a detached home in Ramsay has jumped from $283,900 to $495,000 – an increase of 74%! Not too shabby an investment when you compare that to the S &P/TSX Composite Total Return Index which had an average annual return of 4.7 % over the same period.
Ramsay is also reflecting the steady, measured growth we are experiencing in the Calgary market now that the recession seems to be in the rear view mirror. Year over year from July 2016 to July 2017, the benchmark price of a detached home in Ramsay has gone up 3.6%, slightly higher than the city mark of 3.3%.
Many lots are zoned R-C2 , so redevelopment opportunities abound at a reasonable price and a healthy ROI. Many renters prefer to stay within a short commute to downtown so Ramsay is a perfect option. Ramsay houses can be prime rental properties and vacancy rates there are always low.
Whether you’re searching for your new, funky inner-city neighbourhood home, looking for a fantastic revenue property or looking to build your dream home overlooking the city skyline, Ramsay has it all for you. The mature lots, variety of shops, friendly neighbours and proximity to downtown makes it an area in high demand.
Come talk to either of us if Ramsay is now on your radar – you’ll be pleasantly surprised!
-Bob
