RE/MAX Edmonton Real Estate News

It’s that time of year again.

With heads hung low, our young’uns are dragging their feet back for yet another year of schooling. For those of us with not-so-young’uns this might mean experiencing their first year of collage; some in a new city, or just a new part of the city trying to live life on their own. This is why the surrounding residential areas of the University of Alberta have become so desirable.

Aerial view of campus and surrounding neighbourhood. Image credit: University of Alberta

There are many tiers of residence options from condominiums to large family homes. Residences can be bought with the short-term goal of housing a son or daughter for the duration of their studies, and then flipping the investment for profit. It can be lived in by the family into the foreseeable future. Or any of these lucrative properties can be held on to, and rented out year after year for the throng of passing students always looking for temporary housing. The turnover of renters, and neighbourhood desirably  makes it equally easy to rent, sell, or live in the area.

This student turnover explains the high mobility of residents in the neighbourhood of Stratchcona. According to municipal census statistics, about 30% of residents had lived at the same address for 5 years or more, with 7 out of ten having moved within 3 years or less.

Row Housing near campus. Image Credit: University of Alberta

The area of residences near the University is considered to by part of the larger Edmonton neighbourhood, Strathcona. This historic area is quite old by Edmonton standards, around 15% of residences were built before 1946 and just over half were built in the 60’s and 70’s. This explains the eclectic architectural vibe of the neighbourhood and provides a wide array of housing options for interested potential residents. Around 44% of area homes are low rise apartment buildings, ideal for thrifty first years on campus. Approximately 24% of the area is comprised of single family dwellings, beautiful homes for the family or a comfortable, spacious retirement.

Saskatchewan Drive walking trail. Image Credit: University of Alberta

The University area’s desirability also has to do with it’s ample amenities. Designed as a neighbourhood for students with limited to access to their own transportation, almost every necessity is in walking distance, including grocery, restaurants, laundry, Edmonton’s popular Whyte Avenue district, multiple theatres, and of course all the buildings on campus. As well,  the University’s transit centre is a main hub for bus and LRT services to all access all parts of the city.

Click here to view properties in the University area. 

All three of these stunning communities overlook the North Saskatchewan River Valley, providing easy access to walking and biking trails. Additionally, limited vehicular access lends to an ambiance of peaceful seclusion.

Though still considered a mature Edmonton neighborhood, the community of Patricia Heights is comparatively young, having not officially joined the city until 1964. Bordered on the north by Whitemud Drive, and on the east by 156 Street, the rest of Patricia Height’s boundaries are formed naturally by the curvature of the Patricia Ravine.

Patricia Heights Walking Trail Access

Named in honour of Queen Victoria’s granddaughter, the prominent area flourished in the late 1960’s, with it’s residential building projects entirely completed just a decade later. A mix of owner occupied and rental properties, approximately half the area is comprised of single-detached homes while the other half is made up of low and medium rise apartment buildings.

Families are attracted to the quiet, tight-knit community, with only two interchanges on 156 Street and on 159 Street to access Patricia Heights.

Adjoining the Eastern border of Patrica Heights, lies Rio Terrace, spanning from 156 Street to 149 Street, and Whitemud Drive down to the river valley. It shares many walking trails and green space features with Patricia Heights, as well as the same two access roads.

Construction on Rio Terrace started just a decade earlier in the 1950’s, and the entirety of neighborhood dwellings are single-family homes, approximately 20 percent of them rental properties. In 2010 the community underwent a major municipal revitalization. Renewals included roadway reclamation, streetlight upgrades, and sidewalk, curb, and gutter reconstruction.

The most notable feature of Rio Terrace is it’s active community league and strong volunteer program. The Rio Terrace Moravian Church is heavily involved, hosting a performance series of musical artists. A strong soccer program attracts young families, while the “Rio Gardens! Community Garden” program facilitates a sustainable food initiative; an incredibly important community value.

Rio Gardens sustainable food initiative.

Rounding out these river valley communities is the affluent area of Oleskiw. Bordered on the west side by 170 street, Oleskiw is pocketed in the river valley on all other sides.

Though development on the area began in the 1970’s, it wasn’t officially declared complete until 2000, making the properties an eclectic mix of many decades of architectural tastes. With 90 percent of properties single-family dwellings, a few row houses round out the area, which is an entirely owner occupied neighborhood.

Highlights of this private, yet trendy area include the Edmonton Country Club and Golf Course, Sorrentinos, Starbucks, and the Marketplace at Callingwood, which includes the city’s largest Sunday farmer’s market.

Homes in Oleskiw. Image Credit: yegishome.ca

A notable geographic feature is the Oleskiw Treestand, a deciduous habitat for urban wildlife. Home to many birds and mammals, the treestand is included on many nature walks, and has been a protected area since 1978.

View available properties in: Patricia Heights, Rio Terrace, and Oleskiw.