Thursday’s provincial budget announced 220 affordable housing units would be constructed in north Edmonton and on Friday the city released details about the project.
The $49.5 million in provincial funding will be used for the Londonderry affordable housing renewal project in the Kilkenny neighbourhood.
READ MORE: Demand for affordable housing in Edmonton more than triples since fall 2014
Capital Region Housing Corporation will build the development on city-owned land in the area of 144 Avenue and 72 Street. The new units will replace 80 aging social housing units.
The development will feature two-storey townhomes on the ground floor and one- to three-bedroom apartments above that can accommodate people with mobility challenges.
READ MORE: Alberta government announces more than $5.6M in funding for affordable housing planning
The units will be a mixture of market-priced and affordable units. The city said this model will make the project financially sustainable without the need for ongoing subsidies from the province.
“This exciting and innovative model provides housing in a financially sustainable way, which can be replicated in future projects and will help improve the quality of living for those in need,” Mayor Don Iveson said.
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“Ensuring all Edmontonians have an affordable place to live is important to building our city,” said Jay Freeman, executive director of Housing and Homelessness with the City of Edmonton. “A sufficient supply of affordable housing helps to support a healthy labour market, is crucial to enabling long-term financial stability of low-income households, and has been a identified as a key pathway out of poverty.”
The following statement was provided to Global News from the minister of Seniors and Housing.
“All Albertans deserve a safe and affordable place to call home,” Lori Sigurdson said. “That’s why our government is committed to making life better for Albertans by investing in affordable housing.”
The project is expected to generate up to 975 jobs, according to the Federation of Canadian Municipalities.
The Londonderry affordable housing renewal project is currently in the design phase. Construction is expected to begin later this year.
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