Alberta invests $55 million into affordable housing initiatives

The provincial government is investing $55 million in affordable housing access and participation over the next three years through the Affordable Housing Partnership Program.

This is part of the stronger foundations a 10-year strategy that aims to increase housing units by 25,000 and to ensure housing is accessible for Albertans, according to a provincial release.

The collaborative program combines the public, non-profit, and private sectors to work together to provide affordable housing for those with low income, developmental disabilities, seniors, physical challenges victims of violence, and so on.

Any proposals which include affordable, social housing, or specialized housing will be open for submissions until Jan. 11, 2023.

Housing providers who are applying for funding can get one-third of their project cost covered as a capital grant, land or building contribution, or as a transfer or long-term lease of a government-owned asset, says the release.

The proposal applications will be reviewed based on a few factors including local community needs, the ability to achieve outcomes for those earning a low income, and the value of taxpayer dollars, says the release.

This funding is part of Alberta’s Capital Plan which designated $281 million over the next few years to offer 2,300 new and refurbished affordable housing units.