With community partners present and shovels in hand, we broke ground on our latest housing development!
See the excitement for yourself:
The development, located in Calgary’s northeast community of Pineridge, will create 65 mixed-use, mixed-income homes for Calgarians. With supporting partners, Canada Mortgage and Housing Corporation (CMHC) and The City of Calgary, we celebrate a milestone that will create sustainable housing solutions in Calgary.
The building will feature a mix of one-, two-, and three-bedroom homes, in addition to fully accessible and universally designed units and barrier-free common spaces. Accessible spaces combined with a mixed-income approach to rents will foster an inclusive community and sustainable operating model.
Read more about the Pineridge development here.
This project was made possible through support from the Rental Construction Financing initiative (RCFi) through Canada Mortgage and Housing Corporation (CMHC) and The City of Calgary’s Housing Incentive Program (HIP).
Pineridge Fast Facts:
- Only 3.6% of households in Calgary live in affordable housing compared to 6% in Canada’s other big cities.
- Launched in April 2017, the RCFi is investing $13.75 billion to encourage the construction of 42,500 new rental housing units across Canada.
- Low-cost loans are available to borrowers who want to build affordable rental housing in Canada in response to demonstrated community need. The rental market is an important housing option for approximately 30% of Canadians.
- The City of Calgary’s Housing Incentive Program (HIP) encourages the building of affordable housing units and provides financial assistance in the form of grant funding and fee rebates.
- The Pineridge development will offer rental homes to individuals and families from all backgrounds, income levels, abilities and demographics.
- The building will feature a mix of one-, two- and three-bedroom units, fully accessible and universally designed units and barrier-free common spaces.
- The project is designed to reduce energy consumption by 22.5% and greenhouse gas emissions by 17.9% relative to the 2015 National Energy Code.