All three levels of government gathered at the site of a future affordable housing project in Calgary on Wednesday to re-affirm their commitment to 12 construction projects.
Jean-Yves Duclos, the federal minister of Families, Children and Social Development, announced $28.4 million in funding for the construction of 665 new units.
The money will be distributed by the National Housing Co-Investment Fund (NHCF), and the units will be built on city-owned land.
The federal government said some of the projects are already under construction, with some units on track to be move-in-ready by next year. A spokesperson added that all projects should be completed by 2026.
Duclos said the investment will help middle-class families find and secure housing.
“With these 12 new affordable housing projects, resulting in up to 665 new units throughout the city, Calgarians seeking safe, affordable housing will be able to remain in the communities they call home.”
More than half of the planned units will be rented out rates no higher than 30 per cent of Calgary’s median household income, and 140 units will be fully accessible for Calgarians with physical disabilities.
The City of Calgary will also be allocating $28.3 million in both funding and land for the projects.
Peter Demong, the councilor for Ward 14, said the City of Calgary is focused on building more affordable housing but is keeping an eye on the city’s budget.
“Building new affordable housing is about giving people the stability they need to succeed, but it’s also about finding ways to accomplish a lot in a cost-effective way,” said Demong.
“By working together with all levels of government to fund development, we are able to deliver new homes that are good for Calgarians, for Canadians and for our collective bottom line.”
$194,000 in operating grants was cut from Silvera for Seniors, an affordable housing community with three complexes across Calgary.
The city’s Housing Incentive Program, which provides fee rebates and grants to nonprofit affordable homing developments, was also cut by $188,000.