Calgary Minute: Arena Deal, Housing Inventory, and a Potential Presidential Candidate
Calgary Minute - Your weekly one-minute summary of Calgary politics
This Week In Calgary:
On Wednesday, the Executive Committee will meet at 9:30 am. The City Manager will share their Q2 Report with the Committee, and the Q3 Green Line Board Report will be received for information. There will be a Notice of Motion to approve Councillor Chabot’s request to run for President of Alberta Municipalities at the 2023 Alberta Municipalities conference.
The Intergovernmental Affairs Committee will meet on Thursday at 9:30 am. No agenda is available for this meeting yet.
- The Calgary Planning Commission will meet on Thursday at 1:00 pm. There are several land use amendments on the agenda, but most are on the Consent Agenda (the stuff they don’t debate).
Last Week In Calgary:
Calgary saw record-high home sales in August, largely driven by the condo market. More than 2,700 properties were sold in August, a 28% year-over-year increase, and inventory dropped to a record low - half of what is normally available in August. Condo sales were up 22% from the same time last year. Meanwhile, the city’s rental prices are the fastest increasing in the country. In July, rental prices took the highest jump in the nation - increasing 17% year-over-year. It’s almost like we need to build more houses...
Speaking of housing, the City has held three information sessions with the residents of Riverbend, with regard to the re-zoning of 15 acres of vacant, City-owned land on the east end of the neighbourhood to build “transit-oriented development”. The proposal would create up to 600 units near a future Green Line LRT station, but would bring major changes to the community, including opening up Riverstone Road Southeast as a connector for traffic. Riverbend residents are concerned about how busy the area will become. There will be a final engagement session on September 21st, after which the City will formally submit the proposal.
- The Province approved the first chunk of funding promised back in April as part of the arena deal. Alberta’s quarterly budget update contained $39 million in grants approved for the Rivers District, the area around the planned arena project. None of the money is earmarked for the arena itself - the City and Calgary Sports and Entertainment Corp, the Flames’ ownership group, will cover those costs. The Province will fund road upgrades, infrastructure needs, and the eventual demolition of the Saddledome.
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