Rebuilding homes in Fort McMurray, Alta., going faster than expected, CMHC says
Rebuilding efforts in Fort McMurray, Alta., are running ahead of expectations, with reconstruction underway on one-third of the homes destroyed in last year’s wildfire, according to Canada Mortgage and Housing Corp.
In a report Thursday, the federal agency said the rebuilding of 844 housing units has started and that number is expected to rise to about 1,000 this year. It said 122 of the projects were started last year and 722 in the first half of this year.
CHMC market analyst Tim Gensey said the agency underestimated how many construction workers would come to Fort McMurray when it suggested last December only 600 units per year could be rebuilt.
He said the strong numbers also reflect the devotion of residents.