Alberta – Affordability key to rise of multi-family homes

Affordability key to rise of multi-family homes

Calgary’s new homes market has been dominated by multi-family homes, with 14,742 starts in city limits between January 2014 and September 2015. During the same time frame, single-family starts are just 6,740.

“I believe the significant rise in multi-family homes is directly tied to affordability and in our market we have considerable issues surrounding the cost of housing,” says Charron Ungar, president of Avi Urban. “More buyers entering the marketplace are finding the true cost of restricted development policies ends up being the burden of the end purchaser.”

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