NEW YEAR, NEW HOME

A three-part series on how to refresh your home in 2015

A7

Inner City Feature

A9

real estate news from industry experts

FREE jan 30 to feb 5 2015 issue 05-03 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

ATTAINABLE CALGARY

COURTESY AHCC

Attainable Homes Calgary Corp. president David Watson talks new developments, the rental market and more

KELSEY HIPKIN 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 Buying 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

SINGLE FAMILY

MLS $496,636 $496,579 $518,452 $518,392 $510,834 $521,887 $527,162 $524,900 $517,234 $512,359 $516,244 $516,447 *All statistics based on monthly data compiled by CREB ® via MLS ® activity. $527,764 $520,686 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 ® AVERAGE PRICE* DEC ?12 ? DEC ?14 $550,312 $556,402 $547,871

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

$554,652 $562,382 $553,451 $545,238 $567,653 $555,251 $560,117 $550,115 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

Alberta

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 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

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NEWS BRIEFS

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MORTGAGE RATES

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MUNICIPAL

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EVENT LISTING

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WEEKLY FEED

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MAP

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OPEN HOUSES

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B23

@crebnow /crebnow crebnow.com

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