Calgary Housing is proud and grateful to have Calgary City Council’s unanimous approval of first reading of borrowing bylaws to access $109 million in self-supported mortgage debt, and for Council’s unanimous support for Councillor Schmidt’s related notice of motion for $10 million from The City’s Housing Land Fund to support a 176-home acquisition project located in Ward 4. This work will include pursuing private sector partnerships to deliver hundreds of homes for more than 2,200 Calgarians.

This growth will represent a nine per cent increase in the number of Calgarians that Calgary Housing (CH) serves, and confirms CH’s place as the largest non-market housing provider in the city and province.

We would like to thank Mayor Farkas and every Councillor for their unanimous support and for their strong endorsement of the mixed-income housing model that is at the core of CH’s ongoing fiscal and housing successes.

The self-supported mortgage debt will go towards capital expenditures like land acquisition and construction of new homes.  When combined with the significant support pledged from the provincial and federal governments, these funds will help unlock construction on 700 homes. And under the mixed-income model, the operating costs of those homes will be self-sustaining, funded by rent revenues collected across the portfolio.

“Building on decades of serving thousands of Calgarians, we’re proud to be The City of Calgary’s developer of mixed-income housing,” CH President & CEO Sarah Woodgate said.

“Today’s decision will help get thousands of more Calgarians into housing they can afford, across the city.”

“Council’s decision helps Calgary Housing further our goal to buy, build, and partner to increase housing supply and choice for Calgarians.”