Five CAHF Questions with CEO Mike Meldrum
1. Why is an organization like CAHF needed in Calgary?
There are many organizations dedicated to building and operating affordable housing in Calgary. They express a common concern – challenges raising the necessary philanthropic capital that will enable community organizations to access government funding. This is where CAHF comes in. We are the go-to fundraising arm for organizations in the affordable housing sector. We partner with these organizations and help raise funds through local donors. This fundraising support then enables the housing organizations to access government grants and expedite builds. We help to attract funds, and builders and operators do what they do best – build and operate affordable housing units.
2. What is the need for affordable housing in Calgary?
There is an affordable housing crisis in Calgary. We all hear about it nearly every day on the news or by speaking to the people around us. It’s not new a new issue here in Calgary, and it’s time to better address the need. According to the City of Calgary’s 2023 Housing Needs Assessment, there were 84,600 households in housing need. This means that one in five Calgary households cannot afford their housing. Currently, there are approximately 325 affordable housing units being built each year, but the demand is so much greater. Calgary needs approximately 2,500 additional affordable housing units each year to meet the growing need. The team at CAHF plans to be one of the organizations working to address this need.
3. What does CAHF intend to do?
CAHF aspires to help attract $10 million annually within five years for capital projects. This $10 million is projected to leverage about $100 million for below market affordable housing funding and the building of approximately 325 units annually (assuming an average cost of $300,000 per unit).
4. How did CAHF evolve?
CAHF was formed when leaders from five agencies involved in the former RESOLVE Campaign realized that there was a significant and ongoing need to seek financial support for affordable housing. Beginning in 2018, this group met regularly to explore the structure and focus. Over the past couple of years, engagement has taken place with federal, provincial and municipal governments, and there has been extensive consultation with not-for-profit housing providers and community stakeholders to refine the CAHF vision and operating model to meet their need. CAHF has garnered strong support from the community and all levels of government. Funding for CAHF to date has come from Canada Mortgage and Housing Corporation and the Government of Alberta, in addition to the Calgary Foundation and community donors. CAHF aligns with the City of Calgary’s, “Home is Here” housing strategy.
5. Why are you personally drawn to this role?
Throughout my entire career, I’ve focused on serving the non-profit sector. I’ve had the opportunity to work in post-secondary education, social services and health care. I have had a bird’s eye view of the interconnection between health care, access to education and access to affordable housing. This role provides an opportunity to work with a strong and committed board of community volunteers and partners who have the passion and experience to make a difference, and also to connect with local philanthropists who want to give back to their community. My family and I have been blessed to call Calgary home, and it’s an honour to help more Calgarians also have a place to call home.