December 11, 2023
The City of Edmonton is offering up to $15 million in grants for affordable housing providers to accelerate development in 2024.
The Affordable Housing Investment Program is the City’s flagship affordable housing program, providing grants for the construction of new developments and the repair of existing units. Since 2019, it has helped create homes across the affordable housing spectrum, from near-market rentals to social and supportive housing. The sixth round of grants is now open to non-profit and private sector developers interested in developing affordable housing in 2024.
“To achieve our goals for community safety and well-being, for reconciliation, and to attract economic investment, we need to ensure everyone has a place to call home. We know the market can’t provide for everyone, from those experiencing houselessness to families struggling to make ends meet. Through these grants, the City helps get shovels in the ground on this critical social infrastructure,” said Mayor Amarjeet Sohi.
Successful projects receive funding to cover up to 25 per cent of construction costs. To be successful, housing providers must guarantee that the affordable units will be offered at below-market rates for 25 to 40 years. Projects are also required to be environmentally sustainable to ensure long-term resilience.
Since 2019, the City has invested a total of $165 million to help create 3,127 units of affordable housing, including 783 units of supportive housing, by providing land, grants and development expertise. Every dollar invested by the City attracts an additional four dollars from other levels of government and affordable housing developers.
To create a city where affordable housing can be found anywhere, we need Edmontonians to welcome it everywhere. Edmontonians can learn more about life inside affordable and supportive housing at edmonton.ca/WelcomeHomes
- Grant applications will be accepted until March 22, 2024. Applicants must have issued Development Permits
- Affordable housing is operated, funded or created through direct government subsidies. There are different types of affordable housing to meet different needs.
- Social housing: rent-geared-to-income for very low to low income households
- Non-market affordable: deep subsidy (less than 50 per cent market rent) and shallow subsidy (less than 80 per cent market rent) for low to moderate income households
- Near-market affordable rentals: 80 per cent market rent for moderate income households
- Supportive housing is subsidized housing with on-site support services.