A new affordable housing deal has been established between the Canadian government and Alberta, and it bodes well for Calgary, which is one of the fastest growing housing markets in the country, with great demand for affordable housing (affordability is defined as housing costs that are no greater than 30 percent of household income).
The Affordable Housing Partnership Program is valued at more than $200 million for affordable housing units in the province. The federal government will match Alberta’s contribution dollar for dollar.
Part of the Stronger Foundations affordable housing strategy, the funding will be used to support 25 new projects that will add more than 2,300 new affordable housing units to the market, which is a step toward achieving the province’s goal of 82,000 affordable housing units by 2031.
Calgary will receive more than $117.1 million to support the work of nine organizations, while Edmonton will receive more than $41.4 million for five organizations. The remainder will support projects throughout the rest of the province.
“In Canada, responsibility for housing is a shared responsibility between all levels of government, so it really requires great cooperation and coordination,” said Edmonton MP and Prairies Economic Development Minister, Eleanor Olszewski.
“This is one area where we continue to see pretty significant partnership between the province of Alberta and the federal government,” said Minister of Assisted Living and Social Services, Jason Nixon.
