EDMONTON — Edmonton has announced it is kicking off the fourth round of its capital grants program for affordable housing development.
The Affordable Housing Investment Program offers up to 25 per cent of capital construction costs for multi-unit non-market housing. Eligible nonprofit and private sector organizations can apply for the new round of grant funding that will close April 13.
The program has given out more than $18 million to build 360 units of housing. According to the city, it is money well spent as every dollar invested attracts nearly six dollars in affordable housing investment.
“It’s impossible to thrive while worrying about having a roof over your head,” said Christel Kjenner, the city’s director of affordable housing and homelessness, in a press release. “This program not only helps struggling Edmontonians with safe, affordable and permanent housing, it leverages partnerships and expertise to make a difference throughout the city.”
The program is one piece of Edmonton’s larger $133 million Affordable Housing Investment Plan. The plan was approved in 2018 with the goal of creating 2,500 new units by 2022. The city stated it is currently on track to meet its goal, thanks to grants, land contributions, surplus school site redevelopment and supportive housing development.
To date, 1,739 units have been approved, not counting the third round of Affordable Housing Investment Program grants, which closed September 30, 2021 and will be presented to council in coming weeks.
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