News
Jan. 26, 2016 | Kathleen Renne
Industry welcomes influx of rental units coming on stream
An increase in the number of purpose-built rentals coming onto the market over the next few years is good for Calgary and the communities they reside in over the long run, say experts
According to Canada Mortgage and Housing Corp.'s (CMHC's) Fall 2015 Rental Market Report for Calgary, 1,216 apartment rental units were under construction as of September 2015, a 53 per cent increase from the year before.
This comes after purpose-built rental apartments increased for the second consecutive year in 2015. CMHC reports 865 purpose-built rental units came on the Calgary market in 2015, bringing the total number of such units in the city up to 35,227.