COCHRANE— After a decade of sitting in purgatory, phase two of the Monterra community development officially relaunched this week.
On Saturday (Aug. 19) the community of Monterra held a celebration marking the relaunch. The project is expected to be completed by 2027.
The future became much brighter for Monterra in October 2019 when Enright Capital Partners purchased the remaining 127 lots that had been sitting undeveloped, said Kendra Watt of Kendra Watt Real Estate Group CIR Realty.
Enright will see the project through to completion and is working to enhance the amenities and shared spaces in the area.
Phase one of the project was completed around 2010, she said. The early stages of phase two did begin but were uncompleted because the previous developer went bankrupt.
“We are reopening phase two,” Watt said. “We’re very excited— This is the beginning of the completion of phase two. The residents are excited that they are going to start having nice new homes.”
While the development in Monterra was in motion before the COVID-19 pandemic, the virus has thrown a “wrench in the plans,” Watt said. However, the pandemic has not deterred developments in the community, she said, adding the real estate market in Cochrane has been incredibly busy since May.
Aspen Creek Designer Homes chief design junkie Stacey Rivett said they were unsure how the phase two relaunch would progress when COVID-19 arrived in the province. However, there has been a lot of interest in the area and people are excited to see the activity taking place.
“It’s still a really good value. For being some of the bigger lots you can get in Cochrane, it’s definitely probably some of the widest you can get in town,” Rivett said.
She added Monterra lots sit on a least a third of an acre, are close to Cochrane, feature triple car garages and community members have access to many amenities.
“It still gives you a sense of community,” Rivett said. “You kind of feel like you’re getting half acreage living so you still have space, but you still have connections to the community.”
Watt added that the community is on municipal water so residents do not need to be worried about accessing wells.
Rivett said everyone is thrilled to see the development of the community experience a relaunch, and homeowners are eager to see new faces join the community.
“It’s really just a family-friendly area where it’s safe for the kids to playing on the streets,” Watt said, adding the wide-open spaces with majestic views are the icing on the cake. “We’re really just excited that phase two has been revived— Monterra is back.”
