Lot supply backgrounder Understanding the numbers Importance of ...

Lot supply backgrounder Understanding the numbers Importance of land supply Land supply is important to the City of Calgary and industry. An adequate supply is vital to an industry that seeks to be responsive to housing market demand. It is also important to ensure that population growth can be effectively accommodated. It is important to note that both land servicing and subdivision have to take place in order for a lot to be brought into the supply. Single-family and semi-detached units There are 6,222 units subdivided and available in Calgary’s new communities right now. In addition, there are 14,088 lots with approved land use ready to be subdivided at the developer’s discretion. When multi-family units are factored in, there are 7,322 units available right now and an additional 30,667 multi-family units that could be ready at the developer’s discretion. The total number of subdivided units in Calgary’s new communities (single-family, semi-detached, multifamily) is 13,544 with an additional 44,755 units that have approved land use awaiting subdivision and servicing. Number of people that can be accommodated Those 58,299 units can house approximately 150,000 people. The City gets to that number using the accepted average of 2.6 people per unit. What is being done The City of Calgary, through the Build Calgary initiative, is working in collaboration with representatives of the development and building industry. Phase 1 of that work is the release of today’s numbers, which all parties feel are the most accurate numbers that have been developed. The work with industry will continue to build up our land supply reserves. We have had two years of explosive growth (35,000+ people moved to Calgary in each of 2013 and 2014) and Build Calgary has been formed to address this and other issues. Difference between the Borger report and The City’s numbers Borger’s report reflects a need for industry to know where/when building permits could be available on serviced lots that are vacant. The City report also indicates this immediate unit supply and, in addition, illustrates how many units are expected to become available. This, in turn, enables The City to understand the supply in the short term, in order to inform planning and servicing decisions regarding supply in the medium to long term.