CALGARY – The City of Calgary has launched a $60 million Housing Capital Initiative which is designed to provide financial support to partners delivering affordable housing.
The initiative is part of 98 actions in The City Housing Strategy and supports the first outcome of increasing the supply of housing to meet demand and increase affordability, a City of Calgary release said.
“The Housing Capital Initiative will provide financial support to housing partners in Calgary to leverage funding from programs delivered by other levels of government, public foundations, philanthropic donors and private industry, with the primary goal of increasing non-market housing supply and getting much needed homes for Calgarians,” City of Calgary acting manager of housing solutions Amanda Szpecht stated.
The funding will be distributed over the next three years, the release said, and “it is expected that housing partners will leverage the $60 million city investment to acquire at least $140 million from other levels of government and/or other sources of funding.”
More information is available at the City of Calgary’s Housing Capital Initiative site.
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