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.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »