CAHF launches operations, begins fundraising for 3 projects
Community supports local solution addressing housing crisis
Calgary Affordable Housing Foundation (CAHF) today announced agreements with three affordable housing providers to raise capital funds that will help Calgarians to find a place to call home.
At a formal launch event held today, CAHF also celebrated its 10 founding donors, who have provided funding to launch operations and enable the Foundation to begin to fundraise for specific local projects.
Founding donors include Brookfield Residential, which donated $500,000 to CAHF, as well as Calgary Foundation, Cal Wenzel Family Foundation, Cedarglen Living, Cindy Rutherford, Mattamy Homes, Stephanie and Brian Felesky, Avalon Master Builder, Collin and Susan Campbell and Greg and Kirsten Mills.
“We are very grateful for the contributions of all of our founding donors,” said Board Chair Dave McElhanney. “CAHF’s goal is to help every Calgarian access safe, dignified affordable and accessible housing. Our founding donors recognize the value of a community led organization like CAHF that brings people together to find local solutions to affordable housing.”
The partnerships with three affordable housing providers will see CAHF raise capital funds for projects by Onward, Silvera for Seniors, and HomeSpace. The three initial projects combined will see an additional 140 units added to the Calgary affordable housing market.
CAHF has set a target of accelerating the build of 1,000 additional units and raising $30 million in donor support in the next five years for affordable housing.
“CAHF takes care of the fundraising so that affordable housing providers can do what they do best—build and operate affordable housing units,” said Mike Meldrum, CAHF CEO.
“We were drawn to CAHF for its connection to the former RESOLVE campaign, and for its forward-looking approach to philanthropy and community building,” said Bernadette Majdell, CEO, HomeSpace. The HomeSpace project is focused on providing welcoming homes for families experiencing or at risk of homelessness. It will provide a 52-unit community of two-storey townhouses, complete with amenity spaces, playgrounds, parking, and wraparound supportive programs to help families build community and thrive.
HomeSpace project
Kyle Fawcett, CEO of Silvera for Seniors, said CAHF offers an “incredible opportunity” for a coordinated and professional approach to fundraising for affordable housing.
“This partnership is much more efficient than having each housing provider develop their own fundraising staff with their own independent campaigns,” said Fawcett. “Ultimately, Calgary seniors in search of affordable housing will be the beneficiaries.”
Silvera’s project, called Livingston Phase II, is an expansion of an existing Silvera community in northeast Calgary, and will include 16 units in a pet-friendly building. The units, three of which will be accessible, are for low to middle income seniors. Specifically, nine units will be 41 per cent below the median market rate with the additional seven units fixed at 21 per cent below the median market rate.
Silvera project
“At Onward, we know that with homes for all, people and communities thrive. When we choose collaboration over competition, the most vulnerable Calgarians win,” said Martina Jileckova, Chief Executive Officer, Onward. “CAHF provides a platform for sector collaboration. With CAHF’s focus on raising capital funds to match government funding, Silvera, HomeSpace and Onward will deliver affordable homes quicker.” With CAHF’s help, Onward is building 72 apartments and townhomes for Calgarians needing affordable homes in the beautiful community of Currie.
Onward project
Fundraising on all projects begins this spring. Anyone interested in learning more about CAHF or any of the housing projects is encouraged to visit thecahf.com