Truman backs attainable housing
Apartment units offered in desirable Mahogany complex
The housing industry and the City of Calgary continue to work together to unlock the door to home ownership for those who might otherwise never have that dream fulfilled.
And again Truman Homes has stepped to the fore by providing the Attainable Housing Calgary Corporation (AHCC) with 69 units in 51 Oak, the company’s newest apartment condominium development in the southeast community of Mahogany by Hopewell Residential Communities.
The 51 Oak complex is made up of 218 units spread between three buildings. The 69 units acquired by AHCC is one unit short of a complete building.
For the family-owned home builder, this is the fourth time it has partnered up with AHCC in its bid to provide housing for those who can afford home ownership, but who struggle to save enough for a down payment. Previously, units in SkyWest, Westbury Park and Skymills were made available.
“There is a growing demand for attainable homes so we’re happy to help when we have units that work with the criteria of the AHCC program,” says Tony Trutina of Truman Homes. “We believe giving back to the community is something we want to do for a city that has been a great place for our business and for our family to call home.”
Qualifying Calgarians can buy a brand new one- or two-bedroom apartment at 51 Oak starting at $212,000 and with a deposit as low as $2,000 and a minimum mortgage amount of $201,400, says David Watson, AHCC’s president and chief executive. Demand for attainable homes has been strong as rental vacancy rates remain low and home prices continue to rise, he adds. According to figures from the Calgary Real Estate Board, the median selling price of an apartment condo is $287,500
The units provided by Truman include a 600-square-foot, onebedroom-plus-den floor plan and five two-bedroom plans measuring about 1,000-square feet. They come with an in-suite washer and dryer, stainless steel appliances, granite countertops, cork flooring and maintenance-free decks with barbecue outlets.
“A contemporary apartment complex in a lake community like Mahogany is a great opportunity for young couples and new families,” says Trutina, adding that an on-site child care facility makes 51 Oak very family friendly.
Five years after being incorporated as a non-profit, wholly owned subsidiary of the City of Calgary, and three years after starting to sell homes, AHCC just recently sold its 500th home, says Watson. As well, 15,000 people have expressed an interest in owning an attainable home by registering at AttainYourHome.com and more than 3,700 have completed the AHCC’s mandatory home education session.
“What’s really exciting is that we’ve found a way to continue delivering attainable homes without any grant funding, which means we aren’t burdening the taxpayer to provide this service,” says Watson.
AHCC has sold homes in 11 different communities and in addition to Truman, the corporation has worked with six other partner builders and developers, including Avalon Master Builder, Cidex Developments, Lexington Development Management, Mattamy Homes, Partners Development Group and Streetside Development Corporation.
“With the support of Truman Homes and our many other partners, we are able to provide beautiful, modern homes at below-market prices,” says Watson.
For information on how to purchase an attainable home, visit AttainYourHome.com.
For information on Truman Homes, visit trumanhomes.com.
Attainable housing can have style as Truman Homes has proven in its latest development.
Homes at 51 Oak start at $212,000 with a deposit as low as $2,000.