New homes to keep up with growing population: City of Calgary
Posted Jul 20, 2023 11:03 am.
Last Updated Jul 20, 2023 11:04 am.
The City of Calgary says the rate of new housing developments being built in the city will keep up with the growing population.
It comes as many Calgarians continue to struggle to find a place to live following a dip in rental vacancy.
Calgary’s rental housing vacancy dipped to 2.6 per cent this year, along with a seven per cent drop in residential building permit applications.
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But, Ulrik Seward with the city’s planning and development department, says the city is keeping up.
“Even though we’ve seen that slight decrease, the actual number of building permit applications is still significantly above the five-year average,” he explained.
He believes a 10 per cent increase in the value of Calgary’s residential construction sector is going to attract investments.
