The Calgary Real Estate Board is concerned about the city's redevelopment plan

A proposed city plan to rezone residential areas to allow for higher-density development could create serious problems, according to a Calgary organization that represents thousands of realtors.

The Calgary Real Estate Board (CREB) said Tuesday morning that the initiative could lead to increased traffic and undue strain on the city's infrastructure.

Hong Wang, Chair of CREB's Standing Committee on Government Relations, said, “Calgary's rezoning is not the right solution to solve Calgary's housing problems.”

“We oppose this approach and advocate for a community-focused strategy to respond to Calgary's housing shortage, shifting the focus from a general housing crisis to a housing supply crisis exacerbated by zoning.”

In January, the City of Calgary introduced a proposal to rezone all residential areas that currently allow single-family or semi-detached homes.

The goal of the plan is to provide more housing options throughout the city, reduce costs and shorten the time needed for permit approvals.

CREB says the strategy could negatively impact property values ​​in the city and damage the urban landscape.

Instead of the blanket plan the city is proposing, Wang suggests a “targeted approach” might work better.

“By prioritizing sustainable growth practices and engaging in robust community consultation, we can strike a balance between housing needs and neighborhood preservation,” he said.

Anne-Marie Lurie, CREB's chief economist, says the city's plan fails to address many of the problems facing the real estate industry, including a lack of supply and high housing prices.

“Higher lending rates also fueled demand for the most affordable communities, which reported the strongest price growth,” he said.

“The proposed road reallocation does not necessarily add the amount of supply needed in the price range that requires delivery.”

CREB says it will try to talk to city officials about the plan to ensure all concerns are addressed.

A public hearing on the rezoning initiative is scheduled for April 22.