Attainable Homes helps Calgarians make ownership dream a reality

Attainable Homes Calgary Corporation celebrated its 800th homeowner on June 7 through its non-profit down-payment assistance program started in 2009.

Launched by the City of Calgary to help retain integral professionals in the city despite a growing housing affordability gap, the program removes barriers for potential homeowners in a variety of circumstances.

Whether it's newcomers to Canada making a fresh start, young couples putting off marriage and children until they own a home, or individuals uncertain they can achieve ownership on their own, the organization has helped ease families into home ownership.

Shared-equity housing and other programs are creating solutions to the city's affordable housing crisis

Affordable housing advocates say more moderate population growth this year will not be enough to break down barriers to homeownership that many Calgarians continue to face.

Calgary Homeless Foundation vice-president of strategy Kevin McNichol said the housing market still cannot keep up with demand, with historically high prices prohibiting many people from owning a home of their own.

In late December, more than 3,600 people were on the Calgary Housing Company's wait list for subsidized and affordable housing units — the largest number of Calgarians waiting for a home since March 2012.

John Harrop talks about what's in store for 2016

Affordable housing emerged as a pressing topic in Calgary this year, as housing prices, rents and vacancy rates challenged people's access to shelter. In fact, wanting to find a solution to the city's growing housing affordability is what drove John Harrop to his new role as president and CEO of Attainable Homes Calgary Corp.

CREB®Now had a chance to sit down with Harrop to discuss everything from the economy's impact on affordable housing to what goes into creating the perfect community. Here's what he had to say:

Affordable housing advocates bullish on possible changes

By the end of this year, at least 200 middle-income Calgarians will have bought what may have seemed financially impossible in the city's now waning hot economy: their own home.

Another two dozen families will, in 2015, aided by many hours of sweat equity instead of a down payment, have entered home ownership.

Yet these Calgarians, who became homebuyers this year through Attainable Homes Calgary Corporation (AHCC) and Habitat for Humanity, might not be the only ones stepping into a more affordable housing market in the near future.

By December, significant changes are expected to the City of Calgary's administrative policies to make growth in the overall housing market both more efficient and less costly.

Ground was broken today on a new 26-unit Attainable Homes development.

Working with Lexington Development Management and Nyhoff Architecture, the building, on the corner of Shaganappi Trail and Varsity Drive will provide a combination of attainable homes and market-priced units.

Attainable Homes Calgary Corp. (AHCC) is a non-profit, social enterprise - wholly owned by the City of Calgary - delivering entry-level homes for Calgarians caught in the city's affordability gap.

Here's some of what was said at the groundbreaking:

New listings up; Calgarians making the choice to buy in tight rental market

Not even a snowy spring kept sales and listings this April from increasing over last years' numbers.

CREB®'s monthly stats reported new residential listings for April at 3,754 units, an eight per cent increase compared to the same time last year.

"[Buying] made the most sense," said Sarah Hammond, a previous homeowner who purchased a home in the
southeast with her boyfriend, a firsttime buyer. "I already owned a condo so was not interested in trying to fight
the rental market to pay. Basically mortgage payments are the same or less than rental fees right now."

With flooding putting pressure on an already tight rental market, the head of one Calgary housing agency said demand has grown exponentially.

David Watson, director of Attainable Homes Calgary Corporation (AHCC) – the non-profit organization that works to deliver entry-level homes for Calgarians – said over the last year, interest has increased substantially.