On Tuesday,  the Community Summit, hosted by the Calgary Homeless Foundation, will launch the updated plan to end homelessness in the city.


Eleven homebuilders in Calgary have stepped up to support the Resolve campaign, with a contribution of $1.4 million each for a total of $15.4 million. The builders who have contributed to the campaign, so far, are: Albi Homes, Brookfield Residential, Calbridge Homes, Cardel Lifestyles, Cedarglen Living, Homes by Avi, Hopewell Residential, Jayman Group of Companies, Morrison Homes, Qualico and Shane Homes.

Many Resolve partners have also received funding from the Government of Alberta. There are nine agencies partnering with the campaign — Accessible Housing, Bishop O’Byrne Housing, Calgary Alpha House Society, Calgary Homeless Foundation, Calgary John Howard Society, Horizon Housing Society, Silvera for Seniors, Trinity Place Foundation of Alberta and The Mustard Seed.

Each of Resolve’s nine partners meets a particular need within the community.

To date, the campaign has raised enough money to provide 915 individuals with a safe and affordable rental home. The funds raised and distributed through Resolve are used in a myriad of ways, such as paying off mortgages, building projects and purchasing land. Resolve tenants pay rent geared to their income, with rent being much lower than market value.

Currently, there are 42 buildings Resolve is supporting in various stages of development, totalling 1,763 units.

The Great Cities report by the Calgary Chamber of Commerce notes that half of the homeless people in Calgary are employed but cannot afford to house themselves.

“The greatest barrier to eliminating homelessness in Calgary is the housing crisis and lack of access to affordable housing,” according to the report. “Cities that lack affordable housing find it difficult to attract and retain labour in certain fields such as education and law enforcement.

Affordable housing boosts economic development by providing the labour force with reliable homes and increasing people’s disposable income, meaning households spend less of their monthly income on housing costs and more on goods and services that support the local economy.

This project will create greater opportunities for employment if people have a stable address, a stable home. They’re able to be more resilient and enter into the workforce in a more stable way. So, that supports businesses in terms of their needing more labour.

The Resolve campaign is a really, really good example of getting some of that non-profit or that affordable or subsidized housing . . . built. They’re showing community leadership, innovation and ownership of the issue. Because of the campaign, it will be able to house 3,000 vulnerable Calgarians in the next four years.

This type of project has never been done in Canada. Nine not-for-profits working together, fundraising together . . . This is the first of its kind in Canada.

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Canada Mortgage and Housing Corp. expects Calgary region home prices to rise over the next two years, albeit at a slower pace than previously forecast.

 

In an updated outlook Friday, it said the average price locally will rise from $460,584 last year to $469,000 in 2015 and $479,000 in 2016.

 

CMHC forecasts price growth are now expected to be in line with inflation.

 

Given lower sales and the pronounced recent increases in new listings, market conditions in Calgary are expected to rebalance, easing the pressure on prices for 2015 and 2016.

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High-end home sales in January fell sharply from 2014’s record level.

Calgary Real Estate Board data show 24 homes sold for at least $1 million last month, a 43 per cent decline from a year ago. No homes sold for more than $1.75 million.

MLS sales of properties more than $1 million reached a record 854 transactions in 2014, up from 726 in 2013 and 544 in 2012.

January CREB data released Monday showed a 38.9 per cent year-over-year decline in overall sales, paired with a 37.2 per cent rise in new listings.

Listings are up substantially, as those who were stretched to the limit, the market speculators and those householders who want to try to time the market, all throw their properties up for sale. It will likely be two to three months before prices slide lower to reflect the changes.

Sellers become faced with the reality of having to lower prices to sell, strategic buyers begin to slowly enter the market looking for bargains.

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Calgary-based Partners Development Group has offered 10 per cent of its upcoming multi-family developments in the city to Attainable Homes Calgary Corporation in a move to help more Calgarians into home ownership.

The Calgary builder’s newest development, ARRIVE at Skyview Ranch Arbours, includes 16 townhouses that AHCC will begin selling at the end of the month. Another 10 townhouses will be made available through the AHCC program later this year at ARRIVE at Evanston.

The project is located east of Metis Trail N.E., just south of Stoney Trail and north of Country Hills Boulevard.

Partners Development Group has already delivered 23 homes for AHCC in Redstone and Skyview Ranch, which qualifying home buyers purchased with a mortgage pre-approval and only $2,000 down.

AHCC and Partners Development Group are helping more middle-income Calgarians get into home ownership through this socially responsible program.

Affordable housing in Calgary continues to be one of the most important issues facing the city. Having builders like Partners Development Group backing the AHCC program is an important part of the solution.

Qualifying buyers can purchase an apartment condo or townhouse with only $2,000 down.

The average sale price of an AHCC attainable home was $258,283 in 2014.

AHCC expects to sell about 220 units this year.

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