Alberta invests $55 million into province’s affordable housing

The province announced Wednesday that it is investing $55 million over a three-year period to increase access to affordable housing in Alberta.

This funding is part of the province’s new Affordable Housing Partnership Program to help people find affordable and accessible housing.

In 2021, the province introduced its 10-year strategic plan to improve accessible housing called Stronger Foundations, which is intended to get “Alberta on track to increase affordable housing units by 25,000,” the province wrote in a press release.

“The new Affordable Housing Partnership Program is open for applications to help public, non-profit and private sectors work together to build and deliver affordable housing for seniors, families, individuals with low incomes, developmental disabilities, physical challenges, victims of violence and others.”

The province is accepting development proposals with an affordable, social or specialized housing component until Jan. 11, 2023.

Housing providers can receive provincial financial support through capital grants, land or building contributions and/or transfer or long-term lease of government-owned land or building, the release said.

The 2022 capital plan will create 2,000 jobs for Albertans and $281 million will be allocated over three years to create 2,300 new housing units.

According to the provinces projections, “a mix of new capital builds and rent subsidies will serve about 3,900 new households over the next three years.”