Calgary doles out $30M for affordable housing

Seven Calgary charities have been awarded more than $30 million to build 480 affordable homes in the city.

The first round of Calgary’s Housing Capital Initiative (HCI) funding was announced Monday. The HCI fund is designed to increase affordable, non-market housing supply in the city by investing in projects that meet financial and operational criteria.

“City Council made a clear commitment to address Calgary’s housing crisis, and this investment is one of the many actions we’re taking to deliver on that promise,” said Mayor Jyoti Gondek. “The Housing Capital Initiative will bring real results to Calgarians who need housing now—not years from now.”  

Thanks to this money, Silvera for Seniors will build 16 new homes in Livingston, Liberty Housing Organization will construct 57 in Parkdale, and Homespace will build 52 in Horizon.

Attainable Homes Calgary will also build 84 new homes in the Downtown West Side, Metis Calgary Family Services will build 24 homes in Erin Woods. Lastly, Calgary Heritage Housing will also be in charge of building 199 new homes and the Victory Foundation will build 48 homes in Forest Lawn.

Subsequent rounds of the program are expected to happen later this year and will bring the total investment up to $60 million.