Province to invest millions in affordable housing

Posted on March 21, 2024 by Ryan Dahlman

By Al Beeber
Southern Alberta Newspapers

The Alberta government is planning to invest $840 million over the next three years if Budget 2024 passes to building more than 5,000 affordable housing units which the UCP says would support more than 6,000 jobs.

More than $400 million of that money will support housing projects through the Affordable Housing Partnership Program over the next three years which are in addition to the 28 projects that were approved through the program last year.

‘We have already made significant progress on our Stronger Foundations strategy to support 82,000 low-income households by 2031. These funding increases would help us keep housing affordable and attainable for everyone who calls Alberta home,” said Minister of Seniors, Community and Social Services Jason Nixon in a press release.

The funding includes $121 million over three years in capital maintenance and renewal funding to preserve affordable housing that currently exists and about $130 million for seniors housing development and renewal over three years.

Robin James, south region vice-president of the Alberta Seniors & Community Housing Foundation is quoted as saying “ASCHA applauds the government’s three-year investment of $840 million to maintain and grow affordable housing in Alberta. This significant investment is not just to support more buildings, but the future of countless Albertans who call our member communities’ home, now and in the future. ASCHA members look forward to the continued partnership with the Government of Alberta in ensuring we can meet the growing need for affordable housing.”

Under the investment, the Indigenous Housing Capital Program would get $75 million over three years to continue building housing for Indigenous residents.