Levy renewal raises questions about community development

Calgary is familiar with new developments – so much so that the construction crane synonymous with the downtown skyline and beyond has affectionately been referred to as the city's official bird.

Yet, following a closed-door meeting earlier this year where city council agreed to freeze developers' special requests for more suburban land until a new levy agreement can be negotiated later this year, many are questioning how a new project goes from an idea to reality, and who is ultimately paying for it.

The City and suburban developers are currently in the final year of a five-year levy agreement. In 2010, the city increased its development levy to about $315,000 per hectare, doubling the number from the previous agreement.

City approves building permits for six-storey wood frame homes

The City of Calgary has announced it will be accepting building permit applications for six-storey wood-frame buildings for already approved land use zones.

"We are looking at innovative ways to make housing more affordable for Calgarians," said Mayor Naheed Nenshi. "Six storey wood buildings are easier and cheaper to build than using other materials, which makes for more affordable homes."

Scotiabank report shows renovation spending fast growing

A report from Scotiabank shows more and more Canadians are taking the renovations route when it comes to their homes.

The report, Canada's Housing Market — Transitioning to Slower Growth shows renovation spending is a fast growing segment, which is impacted by rising home prices, tight resale market conditions, attractive financing and g o v e r n m e n t
tax credits.