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Calgary builders team up to bring assisted-living facility to Beltline Cody Stuart
managing editor
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Resolve Chair and Brookfield Residential Properties CEO Alan Norris was one on hand for the kick-off to construction at Stepping Stone Manor, a 30-unit assisted living facility that will house formerly homeless individuals. The Beltline development is the first of eight facilities to be built in four years.
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* MAR ‘12 – MAR ‘14
49
40
51 47
45
43 42 43 41 38 37 36
39 37 37 37 38
37 34 31 31
29
27
MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14
33
40
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Sutton CanweSt Real eState
$479,900
CMHC announces mortgage insurance changes
algarians lacking a proper place to call home are set to be given a helping hand thanks to a collaborative effort from 12 Calgary-area builders. Stepping Stone Manor, which will be the first of eight apartment buildings to be constructed in the next four years, will be a 30-unit facility in the Beltline community. Starting next summer, the $4.65-million facility will provide housing for 30 formerly homeless Calgarians, complete with on-site support services. The project is being made possible thanks to Resolve, a private-sector fundraising campaign set on raising $120 million to build affordable rental housing, with social service supports, for 3,000 people in Calgary. “The more the free market moves up, the more different people end up moving down the housing ladder,” said Resolve Chair and Brookfield Residential Properties CEO Alan Norris. “So we squeeze more people at the bottom end, and that’s the unfortunate reality of today’s economics. So we have to do something about it.” Calgary currently has the lowest rental vacancy rate in Canada, and rents in the city are among the fastest-growing in Canada. While the Calgary Homeless Foundation (CHF) has provided housing for more than 5,000 people since 2008, as part of the 10 Year Plan to End Homelessness, estimates place the number of homeless in the city around 3,500 with another 14,000 at risk of homelessness. It costs roughly $35,000 less per person per year to provide housing, with social supports, than to cycle people through expensive public support systems, according to the foundation. Studies conducted by the Calgary Homeless Foundation have shown the Housing First model in Calgary results in fewer interactions with emergency services, including a 95 per cent reduction in incarcerations.
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Grace Turley
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ortgage insurance offered by Canada Mortgage and Housing Corporation (CMHC) are being cut and starting May 30 insurance will no longer be offered on second homes. Some other changes CMHC will be implementing include anyone who has an insured mortgage will no longer be able to act as a co-borrower on another mortgage the CMHC insures, and CMHC will not offer mortgage insurance to self-employed people who don’t have the documents to prove their income.
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Donna Williams | 403-617-7749 eDGeMont attatCHeD no ConDo Fee’S OVER 2000 SQ FT 2 ST W/3 BEDROOMS UP. LG SUNNY LIVING RM, SEP MN FL FAM RM, WALK UP BASEMENT W/2ND FAMILY RM, WORK RM. DOUBLE ATTACHED GARAGE. NEW SHINGLES. PRIVATE FENCED YARD CLOSE TO BUS & JUST A 3 MIN WALK TO WORLD HEALTH CLUB. MLS®C3610569
$289,900
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BRaeSIDe townHouSe RENO’D KITCHEN, NEW APPLIANCES, HARDWOODS UP & DOWN. 3 BEDRMS UP. DEV BASEMENT NEW FURNACE,SHINGLES,WINDOWS. FENCED BACKYARD. CLOSE TO BUS, LRT, SHOPPING, GLENMORE RES, JUST 10 MINS WALK TO 2 MALLS. MLS®C3610525