Calgary researching short-term rentals

UCalgary and the City of Calgary have launched a public consultation to better understand the issues and opportunities related to short-term rentals (STRs) in Calgary. This initiative is part of a multi-year collaboration between the two parties, to develop an evidence-based policy framework for STRs. The first phase of the study involves a survey from October 2023 to December 2023, asking Calgarians about their experiences with STRs and what they see as current and future concerns. Representatives from the tourism, business and housing sectors will also participate in focus groups in the second phase of the study, with the final report being delivered

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Calgary redefining what to do with an empty office space – – Journal Of Commerce

In October 2023, Calgary has become a leader in North America with its Downtown Development Incentive Program (DDIP). Launched in 2021, the program aims to convert six million square feet of vacant office space to residential by 2031. Already, 1.3 million square feet of office space has been converted, with up to $15 million in grants provided. The 10 projects so far will add over 1,200 housing units, including affordable units, and increase the downtown population by up to 20%.

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Calgary sells 3 parcels for affordable housing

On Monday, October 2023, the City of Calgary announced that it had sold three parcels of city-owned land to non-profit housing providers for below market value in order to create an estimated 100 new affordable homes. This sale is part of the city's housing strategy to increase the offerings from non-profit housing providers in order to help address the housing crisis in Calgary.

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Calgary’s business-residential tax ratio, highest among big cities nationwide, forecast to widen further: report

Calgary's business-residential tax ratio is forecast to widen further, with the current ratio of 48-52 expected to be a subject of interest during the upcoming budget deliberations. Residential properties are expected to see a 10% increase in value in 2024, while non-residential properties such as office, commercial and industrial are forecast for a collective two percent increase. This could lead to a shift of the tax burden from businesses to residents, if the tax share remains the same as it has since 2019.

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Labour shortages one of many factors limiting residential construction in Calgary: experts

At an industry event on Tuesday, experts identified labour shortages as one of the main obstacles preventing Alberta's residential construction industry from meeting the high demand for housing. A survey revealed that 55% of residential-sector respondents from Alberta anticipate fewer housing units in 2023 compared to 2022, though innovative solutions are being explored to address the problem.

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Fall 2023 Realtor Forecasts for Calgary Market

Strong migration trends sustain high housing demand in Calgary, differing notably from market conditions in nearby Edmonton.Despite interest rate fluctuations, unyielding demand across market segments persists, signaling a seller's market.Sales activity remains robust, particularly in higher price segments, likely due to migrants attracted by Calgary's relative affordability.