EDMONTON – The City of Edmonton has approved grants for 258 new units of affordable housing, moving it past its four-year affordable housing targets.
Grant funding for four new projects was approved by the city’s executive committee recently as part of the fourth round of the Affordable Housing Investment Program (AHIP) with a $17.6 million investment. The 2,670 homes committed to over the past four years surpasses the original target of 2,500 units of new or renovated affordable housing by the end of 2022.
Three of the projects will be led by Indigenous organizations and another will be led by HomeEd, the City of Edmonton’s non-profit housing corporation.
“These homes will offer a firm foothold to hundreds of Edmonton families. Because Indigenous people face barriers around housing due to intergenerational trauma, it’s especially exciting to see Indigenous-led organizations forging ahead with innovative projects that integrate cultural connections from the start,” Edmonton Mayor Amarjeet Sohi said in a statement.
“When the city offers consistent, predictable and early support, more affordable housing gets built. We all recognize that Edmonton’s housing gap is significant – one in four renters struggle – but by treating affordable housing as essential infrastructure, we empower thousands of Edmontonians to build a better future while simultaneously making our community as a whole more resilient,” City of Edmonton Affordable Housing and Homelessness director Christel Kjenner added.
Three projects will be located in Griesbach and two of the sites have already received support from the Canada Mortgage and Housing Corporation through the Federal Lands Initiative, a 10-year plan that will provide up to $200 million to support the transfer of surplus federal properties, a City of Edmonton release said.
The projects represent a total investment of approximately $128.8 million.
Métis Capital Housing Corporation will receive $8.2 million towards a $50 million project for 127 affordable housing units for low-income Indigenous families in Griesbach, with onsite programming and a child-care centre.
Tribal Chiefs Ventures, a Tribal Council representing six First Nations northeast of Edmonton, will receive $4 million to build a $32.2 million, 127-unit mixed market building in Griesbach, with 64 affordable units.
Paul Band Property Management Corp. will receive $1.5 million as part of an $8.9 million project in Glenwood, which will include 24 semi-detached residential units for off-reserve members, with a focus on families, seniors and members living with disabilities.
An equity trust program will allow tenants to grow savings and eventually purchase their own homes.
HomeEd will receive $3.8 million for a $37.6 million project that will add five mixed-market townhouse buildings in Griesbach with 43 affordable units.