Calgary, homebuilder form partnership for affordable housing

The City of Calgary and Hopewell Residential have formed an alliance to help meet Calgary’s affordable housing challenge.

Twenty-four Hopewell Residential properties in the southeast communities of Mahogany and Copperfield will be available to homebuyers using the Attainable Homes system. Attainable Homes is a non-profit corporation owned by the city that helps working-class Calgarians purchase a home. Those who want to use the system must qualify for a mortgage but make less than $80,000, or $90,000 if they have children. Mayor Naheed Nenshi said that for the $2 million seed money the city put into Attainable Homes, it has now helped over 700 people purchase a property. The 24 properties in the southeast are not yet complete. In Copperfield, 14 townhomes will be available in the new year through the program. In Mahogany, the Sandgate project is a 306-home condo. Ten of the units will be sold through Attainable Housing. Jeff Rust, VP of multi-family for Hopewell, said the company is looking at its work with the city as a “long and productive relationship between our organizations.”