Current Projects
Urban Redevelopment & Mixed Use
Attainable Housing
What We're Doing
McPherson Place provides a progressive new concept for attainable home ownership through shared equity financing and no down payment for qualified individuals and families.
McPherson Place
New Urban’s partnership with the not-for-profit organization INHOUSE Society, utilizes a unique shared equity model which helps people with moderate incomes afford home ownership. We are proud of being able to bridge the gap between the rental and sale market while at the same time designing condominiums with market quality specifications and finishes.
 
Shared Equity Lender Financing (S.E.L.F.) is the innovative solution from INHOUSE that makes home ownership affordable. It empowers qualified and approved purchasers to move into newly built, market-value homes with NO upfront down payment required. This financing system eliminates one of the primary hurdles facing many new homeowners – the down payment – and reduces monthly mortgage payments to an affordable level.
 
INHOUSE Society is governed by a Board of Directors responsible for the stewardship and oversight of the Society. Our goal is to be the leader in sustainable communities through the provision of quality, affordable homes.

Highlights:

  • six-storey steel and concrete building
  • modern brick and stucco exterior
  • studio, one and two bedrooms
  • underground parking
  • 4,500 square foot retail component 
  • 160 units
  • 58 units purchased by the City of Calgary for their affordable rental program
  • contemporary interior specs including granite countertops, wood laminate flooring and stainless steel appliances
  • located in desirable Bridgeland, within walking distance to Transit, LRT, downtown, the Bow River pathway and the many shops and restaurants of 1st Street NE.
Project Overview:
  • Market Value: $47 million
  • Size: 138,000 square feet (160 condo units and 4,500 sq. ft. retail component)
  • Construction Start Date: July 2011
  • Completion Date: First occupancies February 2013
Recent News:
  • INHOUSE Society and New Urban Development were pleased to give visiting CMHC Board of Directors a tour of McPherson Place in August 2013.
  • CMHC (Canada Mortgage and Housing Corporation) produced a video about the success of McPherson Place.

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