NEW YEAR, NEW HOME
Inner City Feature
A three-part series on how to refresh your home in 2015 A7
A9 FREE jan 30 to feb 5 2015 issue 05-03 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
ATTAINABLE CALGARY
COURTESY AHCC
Attainable Homes Calgary Corp. president David Watson talks new developments, the rental market and more
SINGLE FAMILY
$550,115
$560,117
$555,251
$567,653 $545,238
$553,451
$562,382
$520,686
$527,764
$516,447
$516,244
$512,359
$517,234
$524,900
$527,162
$521,887
$518,392
$510,834
$496,579
builders like Partners Development Group backing the AHCC program is an important part of the solution.” While CREB® forecasted housing sales to ease this year with prices increasing 1.58 per cent, AHCC president and CEO David Watson said he thinks demand for affordable housing isn’t going anywhere. “It’s somewhere between 20-30 per cent of people can’t afford to rent in Calgary let alone afford owning a house so the affordable housing issue is here to stay, I think, and we have to start figuring ways to deal with it,” he said. With the vacancy rate amongst the lowest in Canada – between one and 1.4 per cent throughout the year – Calgary
PROVINCE MAKES REVISIONS TO MUNICIPAL GOVERNMENT ACT CREB® STAFF
A
DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14 NOV14 DEC14
$496,636
$518,452
$550,312
MLS® AVERAGE PRICE* DEC ‘12 – DEC ‘14 $554,652
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uying a home just got a lot easier for some Calgarians. Local builder Partners Development Group has committed 10 per cent of its upcoming multi-family homes developments to Attainable
$547,871
reporter/photographer
Homes Calgary Corp. (AHCC). AHCC is a non-profit organization delivering entry-level homes for Calgarians caught in the affordability gap. Those who qualify can get into the market with a mortgage pre-approval and only $2,000 down. “We work with AHCC as a way to give back to Calgary, helping more middle-income Calgarians get into home ownership through this socially
$556,402
KELSEY HIPKIN
responsible program,” said Greg Gutek, Partners Development Group president and founder. “We’re looking at our future Calgary developments to see how we can adjust the design and density to include more attainably-priced homes.” Partners has already delivered 23 units for the AHCC program and will add 16 to that when units at ARRIVE in Skyview Ranch start selling at the end of the month and 10 more later this year at an ARRIVE development in Evanston. “Affordable and attainable housing in Calgary continues to be one of the most important issues facing our city,” said Mayor Naheed Nenshi. “Having
lberta municipalities and the province are setting the stage for a revised Municipal Government Act as early as 2016. Representatives for the province’s municipalities, in collaboration with the Alberta government, recently signed a memorandum of understanding for the revision. The act is the legislative framework under which all municipalities across the province operate.
MUNICIPAL A3
*All statistics based on monthly data compiled by CREB® via MLS® activity.
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Chairman David Laycock and president and CEO David Watson of AHCC. Local builder Partners Development Group is committing 10 per cent of its upcoming multi-family product to the non-profit. rents conversely ranked as the highest in all of Canada. According to Canada Mortgage and Housing Corp. (CMHC), monthly rents for a two-bedroom unit increased by 5.9 per cent over the $1,224 seen in October of 2013 to $1,322 in 2014.
ATTAINABLE A3
CONTENTS INDUSTRY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 Overnight rate decreases
NEWS BRIEFS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 MORTGAGE RATES . . . . . . . . . . . . . . . . . . . . . . . . A5 MUNICIPAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 Lost Spaces
EVENT LISTING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 WEEKLY FEED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B23 @crebnow
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