Up to 200 new Calgary affordable housing units could be built on five city-owned sites now up for sale to non-profit providers.
The sites – in Saddleridge, Highland Park, Banff Trail, Capitol Hill and Seton – will be opened up to more than 60 non-profits in Calgary that are addressing Calgary’s affordable housing deficit.
Applicant to the program qualify to receive Housing Incentive Program (HIP) funding from the City of Calgary and Canada Mortgage and Housing Corporation’s SEED funding program, and this year groups can receive additional funding through the federal government’s National Housing Strategy.
“The City of Calgary is taking action to address our critical need for affordable housing,” said Mayor Naheed Nenshi, in a prepared statement.
“The release of this land, along with the CMHC partnership, is another step toward a Calgary where everyone can afford to live and build a life of dignity.”
According to the city, the sites were selected due to their location relative to transit, grocery stores and employment centres. The sites will also be sold at below market value to help the non-profits scale up the developments and improve self-sufficiency.
“A pressing issue facing Calgary’s affordable housing sector is an inadequate supply of suitable land to build new units”, said Sarah Woodgate, Director of Calgary Housing and President of Calgary Housing Company.
“We are excited to partner with CMHC to offer City land and funding in one package, making it faster and easier for non-profit providers to build more homes.”
Applicants will be required to meet a specific criterion for development. Applications will be accepted until 4 p.m. on March 27.