The rapid improvement in Calgary’s multi-family homebuilding sector is coming into greater focus during the 2nd quarter of this year with recent reports of continued job growth and more pronounced year-over-year increases in multi-family housing starts.
Last Friday, Statistics Canada released data showing that 9,800 more Albertans were working in May than the previous month, resulting in unemployment falling to its lowest level since December 2008. An article by Calgary Herald business writer Mario Toneguzzi on the subject appeared on the same page of Saturday’s business section as an article covering a 226% jump in Calgary multi-family starts in May 2012 over the previous year.
Our urban multi-family residential development strategy clearly aligns with a growing consensus among market watchers and savvy investors that market conditions for low-rise, frame construction apartment condominiiums have dramatically improved over the last 4 quarters.
Our research confirms that this positive trend in the demand for affordable, urban multi-family residences in Calgary is widely expected to continue, and you can review numerous articles and reports which reflect this consensus through the continuously updated Resources section of our website.