This week we have posted a number of recent news items on the Market News section of our website that independently confirm the urban multi-family development rationale which underscores our Mission Road project initiative, including:
- ATB Financial’s observation that Alberta’s housing markets are continuing to recover while the many other Canadian housing markets show signs of weakness.
- Statistics Canada’s latest employment figures confirming Alberta has the lowest unemployment rate in the country with Calgary’s jobless rate a mere 4.7%.
- A Calgary Herald Editorial praising the federal policy change on CHMC-insured mortgages for helping diffuse the risk of a sudden correction in housing markets.
- The Calgary Real Estate Board’s observation that our condo market has clearly moved from a buyers’ market to a balanced market with large gains since 2011.
These, and countless other news items we have highlighted for you over the past 15 months represent persuasive evidence of the growing scale of urban development in the Calgary area by experienced and disciplined developers.
Despite the negative public sentiment surrounding private real estate development syndications, a small, discerning group of private investors have joined us in funding the Mission Road project. Now 98% financed, we regard this project as a prototypical example of how private capital can be professionally structured to achieve tangible results, in an acceptable timeframe, with intelligent regard to risk management.
We appreciate your continuing interest in our development projects and look forward to sharing further news, insights, commentary and project details with you in the New Year.
Please don’t hesitate to contact our offices directly to request information on our current project or discuss future project initiatives.
If we don’t hear from you before hand, on behalf of our staff, partners and advisors I’d like to personally extend to you our best wishes for the upcoming holiday season.