As Calgary forges ahead with the creation of a new affordable housing strategy, the federal government’s role in the process is uncertain, reports the Calgary Herald.

Numerous agreements between Ottawa and the locally-owned and operated Calgary Housing Company to operate hundreds of affordable housing units will end at the beginning of 2015.

Originally signed between 20 and 30 years ago, the agreements were designed to pay the mortgages of affordable housing projects in the city. At the same time, they would also allow subsidized rents paid by residents to cover ongoing operating expenses.

Brian Pincott, a city councillor who also chairs the Calgary Housing Co., said the impending deadline provides a golden opportunity to rethink and possibly change the relationship the city has with Ottawa.

“We’re not saying we need to renew operating agreements," Pincott said in an interview. "We know how to do affordable housing better than we did 25 years ago."


Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: