CALGARY, ALTA. – The governments of Canada, Alberta and the City of Calgary have announced combined funding of more than $23 million for the city for two rapid housing projects.
Calgary is one of the 41 recipients of the third round of the Rapid Housing Initiative’s (RHI) city stream with the investment set to help create 64 new units across two projects, a City of Calgary release said.
The first project, Hope Heights, is being developed by HomeSpace Society into a four-storey apartment building located at 117 12 Street, in the community of Crescent Heights just north of downtown Calgary and includes 35 one-bedroom rental units, with at least 12 units designated for women and/or women and children.
The project received $7.3 million under the Cities Stream of the third round of the RHI3 from the federal government through the Canada Mortgage and Housing Corporation (CMHC), $872,975 from the City of Calgary, $2.1 million from the Government of Alberta, and $1.3 million donation from Calgary builder Hopewell. Construction is expected to be completed in fall 2024, the release said.
Onward is developing the second project, a low-rise apartment building offering 29 affordable rental units near Westbrook Mall. The project, called Killarney, will be comprised of mostly two-bedroom units and will support women and children. It received $8.3 million under the Cities Stream of the third RHI3 round through the CMHC, $1.1 million from the City of Calgary, and $3.4 million from the Government of Alberta. Construction is expected to be complete by late summer 2024.
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