Attainable Homes breaks ground on Reach Martindale
A future residential development next to a recreation centre, and near a school and shopping centre, will provide a new set of options for middle-income earning Calgarians to step into home ownership.
Attainable Homes Calgary Corp. held a groundbreaking ceremony for Reach Martindale in the established northeast Calgary neighbourhood of Martindale earlier this month.
This is the first development planned and general contracted by Attainable Homes, a non-profit organization created and owned by the City of Calgary.
Reach Martindale will be constructed by Avalon Master Builder, the same company behind developments such as Zen Urban District in Seton, and Zen in Redstone.
Planned for 116 homes with energy-efficient features, floor plans at Reach will range from 500 to 1,400 square feet. Orientations are available in one, two and three bedrooms, and there are options with basement development to have five bedrooms.
Attainable Homes runs a homeownership program that’s designed to assist Calgarians in affording the down payment on a new home.
Through the program, people can purchase a home for a down payment of $2,000. Individual applicants must qualify for a mortgage and not earn more than $83,000 annually. Couples without dependent children can earn up to $93,000, and with dependent children, can earn up to $103,000.
“When people who are working, earning a decent income, can pay rent, their bills and can’t save up for a down payment, can’t get into home ownership, (they) stay in market rental longer — that means that the market rental prices go up,” says Mayor Naheed Nenshi, during the groundbreaking event for Reach Martindale. “It means that people who are looking for more affordable market rentals find it difficult to find market rentals, meaning they’re seeking subsidized rental.”
The ripple effect is ongoing, he adds.
Attainable Homes Calgary’s home supply is guided by what it calls “quality of life” standards, with a focus on accessibility, sustainability and affordability.
“We evaluate homes for their walkability, their proximity to transit and amenities, their energy-efficiency and the price tag — both to purchase and operate,” says Elizabeth Huculak, interim president and CEO. “When we look at Reach Martindale, this development checks all the boxes.” Nenshi, agrees.
“Look at this location,” he said, singling out the neighbouring Genesis Centre, a multi-purpose facility with a library, and short distance to Nelson Mandela High School, and the Saddletowne LRT station. The site is also a quick walk from a commercial development anchored by a Safeway grocery store.
“Each time a project like this begins, I’m encouraged in knowing we are one step closer to increasing our city ’s ability to properly house people within their means,” says Nenshi.