CALGARY — Alberta and Calgary have signed a four-year $34 million operating and capital funding agreement to maintain 1,048 affordable households. These homes are managed by Calgary Housing Company.
The agreement is one portion of the city’s larger housing strategy that seeks to maintain and increase affordable housing. The 1,048 homes maintained by the agreement represent eight per cent of the total supply of affordable housing in Calgary.
“This new agreement sets the stage for the housing plan we need in Calgary. The mixed-rent model will create a more financially sustainable model for affordable housing,” said Mayor Naheed Nenshi in a statement. “When this is combined with our push for greater federal investment in the supply of housing for those below the income threshold, we have an opportunity before us to create a system that will ensure dignity, opportunity, and security for anyone in Calgary in need of a home.”
The agreement now enables the transition of all city-owned social housing to a social housing mixed-rent model. Part of the agreement allocates $34 million in operating and capital for repairs and maintenance.
“It’s important to remember that affordable housing is about people,” said city councillor Druh Farrell. “People in stable housing have greater chances to find and keep jobs, to learn and build skills, and be active participants in their communities. This agreement to maintain homes for those most in need, is one of many necessary steps to meet the growing need in Calgary.”
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