The second, and final, tranche from the City of Calgary’s $60 million Housing Capital Initiative will fund the development of approximately 566 new, non-market homes in the city.
The money, $29.3 million, was awarded to six applicants from the non-profit sector to add affordable housing in a range of types, models and neighbourhoods throughout the city.
“Increasing non-market housing supply is a top priority for this city council and for Calgarians,” said Mayor Jeromy Farkas, at a media gathering.
“Through the Housing Capital Initiative, the city is working alongside trusted non-profit partners to accelerate projects that deliver much-needed homes for low-income Calgarians. These investments reflect our commitment to ensuring Calgarians have access to safe, stable and affordable housing, today and into the future.”
The six applicants, their share of the tranche and locations of their projects are: Trellis Foundation for Community Impact, $1,680,000 at 938 15 Ave. SW and $3,902,306, 6623 Bowness Rd NW; Multi-Generational Housing and Community Care $5,737,050, 100 Skyview Ranch Dr. NE; Liberty Housing Organization, $3,935,798, 11 Haddon Rd SW; Norfolk Housing Association, $4,071,000, 607 9A St. NW; HomeSpace Society, $3,038,000, 1000 8 Ave. SW and $1,377,675, 2525 Eversyde Ave. SW and; Onward Homes Society, $5,552,100, 2734 Radcliffe Dr. SE.
"The City of Calgary is jump starting affordable housing by being the first level of government to invest in these projects,” said Bernadette Majdell, CEO HomeSpace Society. “Without this support, this building would sit vacant but now it's well on its way to being home for 64 Calgarians in need."
“This investment strengthens our partnerships with Calgary’s nonprofit housing sector and helps unlock additional funding from other orders of government," Reid Hendry, chief housing officer with the city. "Together, we are increasing the supply of safe, stable and affordable homes for Calgarians. Housing is foundational to individual wellbeing and to the resilience of our city.”
Learn more about the Housing Capital Initiative at Housing Capital Initiative (HCI).