The City of Calgary is selling five lots it owns to non-profit affordable housing providers, generating up to 200 new units for Calgarians in need.
A similar land sale was held in 2017, with successful applicants qualifying to receive grant funding through The City’s Housing Incentive Program (HIP) and Canada Mortgage and Housing Corporation’s (CMHC) SEED Funding program, marking a meaningful collaboration between the two levels of government.
New to the program this year, successful applicants can also qualify to receive funding under the Government of Canada’s National Housing Strategy, specifically the National Housing Co-Investment Fund delivered by CMHC, resulting in a total federal investment of up to $48.5 million.
“The City of Calgary is taking action to address our critical need for affordable housing,” says Mayor Naheed Nenshi. “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.”
The HIP program provides grant funding and rebates on City permitting fees for affordable housing projects. CMHC SEED Funding provides financial assistance to support activities that will help facilitate the creation of new affordable housing units and assist existing housing projects to remain viable and affordable.
“Our government is thrilled to continue this unique partnership with The City of Calgary, and to streamline and accelerate the application process for affordable housing providers,” says Adam Vaughan, parliamentary secretary to the Minister of Families, Children and Social Development. “Like many Canadians, Calgarians are facing affordability challenges, so we’re rolling up our sleeves and working with government partners to find local solutions to local housing issues.”
The five sites, located in Saddleridge, Seton, Highland Park, Banff Trail and Capitol Hill, were selected for their close proximity to transit, grocery stores and employment. The City is selling the sites at below market value, helping non-profit providers scale up and improve operational self-sufficiency, says Sarah Woodgate, director of Calgary Housing and president of Calgary Housing Company.
“A pressing issue facing Calgary’s affordable housing sector is an inadequate supply of suitable land to build new units,” says Woodgate. “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.”
The sale is open to more than 60 non-profit affordable housing providers in Calgary working to address the affordable housing deficit in the city. Applicants are required to meet a specific set of criteria, including demonstrated experience in multi-residential development and operating, managing or selling non-market housing.
Applications will be accepted by The City’s Real Estate & Development Services business unit until Friday, March 27, 2020 at 4 p.m.
For more information, visit calgary.ca and follow the links.
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