Attainable Homes Calgary breaks ground on 116-unit complex in Martindale

There was a ground-breaking ceremony Wednesday for a 116-home affordable housing project to be built adjacent to the Genesis Centre YMCA and public library in Martindale in northeast Calgary.

Mayor Naheed Nenshi says the project by Attainable Homes is aimed at hard-working Calgarians who earn a good income but just can't save a down payment for their own home.

Attainable Homes Calgaryis a non-profit, social enterprise set up by the city nearly 10 years ago to help bridge the gap from renting into owning with down payment assistance.

"Once this is built, we will have housed over 1,000 families, helping them achieve their dream of home ownership. And that is something to be hugely proud of," Nenshi said.

Nenshi says the energy efficient project, called Reach Martindale, is in the perfect location.

"We are in an incredible neighborhood with an incredibly diverse population, with places of worship, with public schools. It really is the best possible place to put housing."

Since inception as a subsidiary of the City of Calgary in 2009, Attainable Homes Calgaryhas been purchasing homes from builder partners to sell through its program to deserving renters.

This project is the first one where the agency purchased a property to lead a housing development of its own.

"We evaluate homes for their walkability, their proximity to transit and amenities, their energy efficiency and the price tag both to purchase and operate," said agency president Elizabeth Huculak.

"When we look atReach Martindale, this development checks all the boxes."

Attainable Homes helps families with children who earn less than$103,000 per year($93,000 per year without children, $83,000 per year for singles) to buy their first home by providing a loan toward a down payment, with the applicant contributing $2,000.

The family buying the home has to agree to make the property their "permanent sole residence" and when they sell the home, a share of the appreciation accrued is given back to the program to finance more families getting into homes.

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