Attainable Homes Calgary, Mount Royal University research impacts of home ownership program

For immediate release

Tuesday, April 26, 2016

Attainable Homes Calgary Corporation (AHCC) has completed a joint research project with Mount Royal University (MRU) exploring the impacts of attainable home ownership.

AHCC is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that enables qualifying Calgarians to buy an entry-level home with a $2,000 down payment. The organization started selling homes in 2011 and has served more than 700 families.

MRU students contacted more than 50 attainable home owners to participate in phone interviews and over 40 stakeholders attended a world café discussion in April.

AHCC President and CEO John Harrop said the research is being used to determine what the organization is doing well and what changes can be made to continue addressing the housing affordability gap in the future.

“One of the comments that stood out to me was a home owner who said she is grateful to simply be able to paint her daughter’s bedroom,” said Harrop. “Another owner said they moved 12 times in five years and they’re thankful for the stability of ownership.”

“What we learned is that the people who buy homes through our program are well-informed and are more likely to be involved in condo boards and engaged in the community.”

“We heard that our education session is really valuable and that attainable home ownership provides hope, stability and independence.”

Harrop said many participants suggested AHCC expand its program and find ways to reduce prices to serve people with lower incomes. 

“We learned that our current model is working but we received ideas about how it can be made even better,” said Harrop.

More than 22,000 people have registered interest in attainable home ownership on AHCC’s website.

The nonprofit is currently delivering homes in partnership with private builders including Truman Homes, Partners Development Group, Hopewell Residential, Vericon Real Estate Ventures and Lexington Development Management.

Visit http://attainyourhome.com/research for more information about the findings.

- ENDS -

Media contacts:
Marissa Toohey
Communications and Stakeholder Relations Manager, Attainable Homes Calgary Corporation
Phone: 403-265-9934
Email: marissa.toohey@attainyourhome.com

Catherine Pearl
Assistant Professor, Social Innovation, Bissett School of Business, Mount Royal University
Phone: 403-440-5508

About Attainable Homes Calgary Corporation:
Attainable Homes Calgary Corporation (AHCC) is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that delivers well-appointed, entry-level homes for Calgarians who have been caught in the city’s growing housing affordability gap.

Through the Attainable Home Ownership Program, it connects builders, developers, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their very own home with a $2,000 down payment. Applicants must earn no more than $90,000 if they have dependent children living in the home, and no more than $80,000 without children.

For more information, visit www.attainyourhome.com.

 

WE MAKE HOME OWNERSHIP HAPPEN

Attainable Homes Calgary Corporation (AHCC) is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that delivers well-appointed, entry-level homes for Calgarians who have been caught in the city’s growing housing affordability gap. 

Through our Attainable Home Ownership Program, we connect builders, developers, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their very own home with a $2,000 down payment. Furthermore, when you decide to buy an attainable home, you're also choosing to pay it forward to help another family in the future. When you eventually decide to refinance or sell your home on the market, a share of the appreciation goes back into the program to fund more developments that will help even more people get a foot on the property ladder.

Do you aspire to own a home of your own? Contact us today and let us show you just how attainable this milestone can be.

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