New horizon for affordable housing as two Calgary non-profits set to merge yyc
Martina Jileckova, CEO of Horizon Housing and CEO of the future organization, said it has been in the works for two years.
Pre-pandemic, Jileckova said 20,000 households were at risk of homelessness in Calgary because they were earning less than $30,000 per year and spending more than half of it on rent. Inflation is pushing the cost of rent up across the city —The organizations offer units ranging from studio apartments to three-bedroom houses, at an average subsidized rate of $500 to $950 per month.just to bring the city up to the national average of six per cent of non-market affordable households.
They have plans to begin construction on 300 new units, which will provide housing for an estimated 500 Calgarians. This includes Horizon’s plans foron land purchased earlier this year with $3.5 million in funding from the Canada Mortgage Housing Corp. and the federal government through the Federal Lands Initiative.
“When we come together, we can grow quicker, and so that means that we can help more people faster,” said Jileckova.Article contentShe said mergers in the not-for-profit sector are not common but Horizon’s board had been watching for opportunities for synergies in vision and operations and found a match with Forward Housing.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Council greenlights 5 new communities on Calgary’s outskirts amid debate - Calgary | Globalnews.caCalgary Mayor Jyoti Gondek said the process of approving business cases for new growth has become a 'beauty contest' and needs to be depoliticized.
Read more »
Two new passport offices open in Ontario to help end months-long application delays
Read more »
Nova Scotia to combine five economic development agencies into two new Crown corporationsNova Scotia Premier Tim Houston says the change will streamline operations and make the government more accountable for economic development decisions
Read more »
CNE returning to Toronto in August with new nightly drone show after two-year hiatusThe CNE will take place between Aug. 19 and Sept. 5
Read more »
Province identifies two new monkeypox cases in OttawaPublic Health Ontario is reporting two new confirmed cases of monkeypox in Ottawa. ottnews
Read more »
Two New West homes targeted for gang activity, more than $8M in drugs seized“This is one of the larger drug seizures we have seen in recent years.'
Read more »