The Calgary Real Estate Board is involved in the city's redevelopment plan

Part of the solution to Calgary's ongoing housing crisis has seen some criticism from a major player in the real estate market.

The Calgary Real Estate Board (CREB) says the city's proposed rezoning plan doesn't solve any problems.

The city-wide rezoning proposal is part of a broader plan to increase housing supply in Calgary, specifically targeting the underserved middle gap. He intends to make efforts to solve the housing problem in this city.

“No center” typically refers to buildings such as mid-rise apartments, duplexes, and townhouses that increase residential density.

CREB believes the plan could have a negative impact on Calgary's residential landscape and property values.

“This is not the right solution to Calgary's housing problem,” said Hong Wang, chair of CREB's standing committee on government relations.

“This poses a significant risk to communities, raising congestion levels in built-up areas and placing additional burdens on infrastructure and service quality.”

“We oppose this approach and advocate for a community-focused strategy to respond to Calgary's housing shortage,” he added. “It will also help to offer some of the lowest rents on the market as part of this offer.”

In a statement, CREB said it recognizes the need to address housing affordability and that it is something the organization is invested in.

According to CREB, this proposed city-wide redevelopment plan is not the way to do it.

“Rezoning will not solve the problems associated with the lack of affordable rental product,” said CREB Chief Economist Anne-Marie Lurie.

He said current challenges require a “comprehensive approach,” focusing on communities with underutilized urban land that has access to transit and public amenities.