The rain has stopped, but downtown Calgary is still flooded – and lenders like Street Capital are waiting for drier days to reopen for business.
The rain has stopped, but downtown Calgary is still flooded – and lenders like Street Capital are waiting for drier days to reopen for business.
Last week’s torrential rain and widespread flooding have wreaked havoc for Calgary lenders like Street Capital; but they are still working – even if it is from home.
“Downtown Calgary is closed and many of us are working from home,” says Trupti Patel, regional vice president for Street Capital, Alberta Calgary East. “We are working closely with the brokers, and the Toronto and Vancouver offices are pitching in to help us – we are trying our best to accommodate everyone.”
Street just recently opened its Calgary office, a move designed to provide more local service for the fast-growing prairie market.
Prime Minister Stephen Harper accompanied Canadian Forces personnel to the devastated city Friday, victims of flooding that have displaced tens of thousands of Calgarians. The downtown section of the city has been particularly hard hit, as overflowing water from two rivers runs through that section.
“We’re just trying to stay dry,” Patel told MortgageBrokerNews.ca on Friday. “It’s tough for anyone to be out. We’ve been told maybe Monday it will be safe to return. But it is pouring outside right now.”
So far, it looks unlikely that the downtown will be ready for business, as city crews have only just started to check the infrastructure for flood damage. But right now, Patel and Street Capital are doing their best to make sure clients are not left in the lurch.
“We are doing our best to make sure that no one is being forgotten due to the flooding,” she says. “We are doing our best to keep the lines of communication open.”
But for Patel personally, there was one small silverlining to the deluge on Friday.
“I am missing all of my meetings today,” she laughed. “Well, I’m not really missing them.”
Expectations for a reopening of downtown offices has been put at midweek.
