The Calgary Affordable Housing Foundation is open for business. The organization officially launched its operations on Wednesday while announcing multiple projects that will together add 140 units to the city’s affordable housing supply. Read More
CAHF CEO Mark Meldrum said around 300 affordable housing units are built in the city annually, while the assessed need is for at least 2,500 new units each year
CAHF CEO Mark Meldrum said around 300 affordable housing units are built in the city annually, while the assessed need is for at least 2,500 new units each year
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The Calgary Affordable Housing Foundation is open for business. The organization officially launched its operations on Wednesday while announcing multiple projects that will together add 140 units to the city’s affordable housing supply.
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At a launch event, CAHF unveiled partnerships with three local affordable housing providers — HomeSpace, Silvera for Seniors, and Onward — to raise funds for the projects.
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“Today is a landmark sort of day,” said CAHF CEO Mark Meldrum.
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CAHF supports housing for vulnerable populations at below-market rates — typically subsidized by at least 20 per cent, and in some cases, as much as 60 per cent, according to Meldrum.
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“CAHF takes care of the fundraising so that affordable housing providers can do what they do best — build and operate affordable housing units,” he said.
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“Everyone in Calgary deserves to have a place to call home.”
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The organization emerged from the RESOLVE fundraising campaign that launched in 2012 and concluded in 2018. The collaborative initiative involved nine agencies that sought to address affordable housing woes and end homelessness. When the RESOLVE campaign ended, partner agencies identified there was still a need for support, Meldrum said.
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The new initiative is almost a “RESOLVE 2.0,” he said.
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The CAHF CEO pointed to growing waitlists and said he has seen a “significant increase” in demand for affordable housing in Calgary in recent years. He attributed the surge to factors such as population growth, increased rents and the cost of living.
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“The need for affordable housing has only increased since the RESOLVE campaign ended in 2018,” he said.
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Housing need is typically defined as spending more than 30 per cent of household income on housing while also earning less than $65,000. By this measure, one in five Calgary households — approximately 82,000 — are in housing need, Meldrum said.
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He said around 300 affordable housing units are built in the city annually, while the assessed need is for at least 2,500 new units each year.
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“Every year, you’re losing ground by 2,200 units,” he said.
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While addressing homelessness remains a priority, Meldrum said his organization takes a “broader view” of affordable housing, working with agencies that serve vulnerable groups. He listed housing supports catered to people fleeing domestic violence and people with mobility concerns as examples.
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“It’s really for those people that are in the greatest need . . . and are really in crisis,” he said.