Making home ownership in Calgary more attainable
In early December 2015, Mayor Naheed Nenshi and Hopewell Residential announced a new partnership developed to help Calgary’s affordable housing challenge.
“I’m very happy to say that Hopewell Residential is now an official partner of Attainable Homes,” said Mayor Nenshi. “The company is one of the leaders in the local residential development and building industry and their beautiful homes and communities will be a wonderful addition to the program.”
The City of Calgary created Attainable Homes Calgary Corporation as a separate nonprofit social enterprise designed to address the housing affordability gap. It partners with builders, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their own home with $2,000 down payment.
“Attainable Homes has educated thousands of people and made purchasing a home possible for hundreds of families,” said Mayor Nenshi.
“The initiative is also freeing up rental properties for those who choose to rent—easing the rental market and making living in Calgary more affordable.”
Hopewell Residential has agreed to deliver townhouses at Chalet in Copperfield and apartments at Sandgate in Mahogany for the program.
“We are proud of our upcoming contributions to this phenomenal initiative, and approach it as a company who firmly believes that hardworking Calgarians deserve the opportunity to pursue the dream of home ownership,” said Hopewell Residential VP of Multifamily Jeff Rust.
“We look at this as the beginning of a long and productive relationship between our organizations, the result of which is a direct and meaningful benefit to hardworking Calgarians across this great city.”
Sandgate is a 306-home condo development located steps from Calgary’s largest lake and beachfront in Hopewell’s Mahogany, Canada’s Community of the Year.
At Chalet No. 6, each townhome is designed with customization in mind. Purchasers are able to select a floorplan and adapt it to best suit their tastes. Chalet’s townhomes range in size from 1,100 to over 1,550 sq, ft., and are within moments of retail and commercial amenities.
Sales will start in 2016.
To buy an attainable home, applicants must qualify for a mortgage and have a down payment of $2,000. Those with dependent children must earn no more than $90,000 annually and those without children must earn less than $80,000 annually.
For more information and to register for the program, visit www.AttainYourHome.com.
(cross-posted from Attainable Homes Calgary Corporation)