The Affordability Paradox: New Mayor Faces Calgary's Housing Time Bomb
Calgary residents have sent a clear message: the economy starts and ends with affordability. This sentiment, echoed across recent surveys, confirms the critical priorities for City Hall: Housing, Job Growth, and stable Infrastructure.
The urgency around housing has been the most consistent demand. While Calgary has proven its capacity by leading the nation in housing starts per capita—a vital trend that continues through 2025—the focus is now shifting from simply building supply to creating genuine affordability. The City’s ambitious, six-year "Home is Here" Housing Strategy is actively tackling this, with over $30 million allocated in the first round to non-profit organizations creating hundreds of new non-market homes for vulnerable Calgarians.
The Fiscal Tightrope
This robust development and expansion strategy directly links to the job market. As Calgary navigates economic headwinds, our city's resilience remains stronger than many others, bolstered by solid commodity prices and steady consumer spending. The focus remains on nurturing that growth, reflected in our economic resilience plan, "Uplook: An Action Plan for our Economy." We closed last year with significant job gains, proving Calgary remains a great place to make a living.
However, the job of financing this ambition falls to the new administration. The strategic vision is now being implemented by the newly elected Mayor Jeromy Farkas and the restructured City Council. The Mayor campaigned heavily on fiscal restraint, meaning every dollar spent on these critical housing, safety, and transit programs will be scrutinized against the background of the proposed 5.4% residential tax increase.
The challenge for our new municipal leadership is clear: they must successfully secure federal and provincial resources to meet the massive housing shortfall and infrastructure demands, all while delivering on the promise to keep Calgary affordable. Public interest in accountability is at an all-time high, underscoring that for residents, a resilient economy starts with a reliable, affordable place to live.
