Economic conditions create ideal situation for renters, challenges for landlords

In the most volatile economy in the country, it is no big surprise Calgary landlords endured 2016 with the highest rental housing vacancy rate in a quarter of a century.

"It is a free market economy, with all the ups and downs, and in the middle of (this downturn), you just hope many will survive it," said Gerry Baxter, executive director of the Calgary Residential Rental Association (CRRA) of Calgary's current seven per cent vacancy rate.

Stakeholders say Alberta can't be overlooked when creating national strategy

As the federal government moves closer toward a national strategy on housing, key Alberta stakeholder groups say recognition of different local and regional challenges is critical to any policy changes.

"We are encouraged the federal government is doing this, but we are hoping its actions will be localized," said Kevin McNichol, vice-president of strategy for the Calgary Homeless Foundation, leader of the city's plan to end homelessness.

"In Calgary, we have the highest median income in the country, so it might be easy to overlook us. But we also have the lowest rate of affordable housing in Canada."

Three companies to submit RFPs for Moustache Lands

The "moustache" that lies at the entrance to Canmore from Calgary will soon boast a residential development designed to alleviate the mountain resort town's lack of affordable, available housing.

The four-acre (1.6 hectare) site — known as the Moustache Lands because the property is composed of loops created by the interchanges off the TransCanada Highway — is owned by the municipality, which has now shortlisted three potential developers to respond to a Request for Proposal (RFP).

Calgary's industrial sector showing signs of strain

Calgary's industrial market continues to hiccup along in a weakened economy as vacancy rates have risen over each of the last four quarters and are likely heading toward the bottom of the cycle, said a second-quarter market report by Cushman & Wakefield.

"One positive is that the amount of space under construction has been cut substantially; helping to prevent future jumps in the vacancy rate," read the report.

Signs of economic hardship started to reveal themselves by the end of 2014, recalled then-CREB® president Bill Kirk 

While the true severity of the economic slump currently dominating headlines had yet to been felt in 2014, Bill Kirk said the writing was already on the wall by the end of his tenure as CREB® president.

Oil production in the Middle East had just started to ramp up, prices for a barrel had started to fall and jobs in Calgary were suddenly in question, he recalled.

"By the end of 2014, there was talk of an oil glut," said Kirk. "We knew there would be fallout ... (but) no one knew what would happen.

"We were all surprised at how slowly through 2015 the bad news hit."

Tips on who is responsible and for what

The smoke continues to clear from the devastating wildfire in Fort McMurray, which, at one point, was estimated to be three times the size of Edmonton.

While it could still be weeks or even months before resident are able to return to the city, landlords and tenants will have questions before then. The Centre for Public Legal Education Alberta (CPLEA) is offering these five tips:

Beltline assisted-living building first for campaign

Calgarians at risk of homeless will soon have added housing options, with the news that Stepping Stone Manor, a 30-unit assisted-living apartment building in Calgary's Beltine, is near completion.

Representing the first new construction project to be completed through the RESOLVE campaign, the building has funded by donors, provincial grants and built by Cedarglen Living Inc.

Airdrie looks to improve acceptance of secondary suites with bylaw review

Calgary is not the only Alberta city tackling the controversial issue of secondary suites.

Airdrie is putting its current land-use bylaw under the microscope, meaning residents in that city could soon see changes to the way the suites are regulated.

Suites are currently allowed in just three neighbourhoods: Bayview, The Canals and Silver Creek. Under the proposed bylaws, the City would allow at least one secondary housing option (a basement suite, a garden suite separate lot unit, or a garage suite) in most residential districts, with the development authority having final say on appropriate usage of a secondary suite.

Industry welcomes influx of rental units coming on stream

An increase in the number of purpose-built rentals coming onto the market over the next few years is good for Calgary and the communities they reside in over the long run, say experts

According to Canada Mortgage and Housing Corp.'s (CMHC's) Fall 2015 Rental Market Report for Calgary, 1,216 apartment rental units were under construction as of September 2015, a 53 per cent increase from the year before.

This comes after purpose-built rental apartments increased for the second consecutive year in 2015. CMHC reports 865 purpose-built rental units came on the Calgary market in 2015, bringing the total number of such units in the city up to 35,227.

A look back at Calgary's resale residential housing market

If nothing else, 2015 was an interesting year for Calgary's housing market.

While it remained resilient even while oil prices began to slide, the conditions that arose as 2014 drew to a close signaled a change was in the air.

And so as Christmas came and went, December 2014 saw the first year-year-year sales decline following 11 consecutive months of year-over-year growth. And with little expectation that things would change, once-lofty expectations gave way to a more realistic outlook.