The Affordable Housing Asset Management Framework outlines the process and decision-making criteria for a 10-year review of all government-owned affordable housing real estate assets.
The framework sets clear, transparent criteria for evaluating which assets will be kept by government, redeveloped, transferred to affordable housing providers or sold with proceeds reinvested back into affordable housing.
This is part of our commitment through the Stronger Foundations affordable housing strategy to help those most in need by improving and expanding Alberta’s affordable housing system.
Housing needs have changed as Alberta's population continues to grow and becomes more diverse. By taking a renewed, people-first approach, we can protect vulnerable Albertans, get the best value for taxpayer dollars and increase the long-term sustainability of the housing system.
Putting people first
We will work closely with housing providers to minimize impacts to tenants as properties are redeveloped, transferred or sold. No Albertans will lose their place in affordable housing because of this process.
As part of Alberta’s 10-year strategy, the Affordable Housing Asset Management Framework focuses on 4 pillars.
Pillar 4 – Invest
Government may expand existing properties and build new affordable housing units.
Criteria to invest
- Assets are located where there is low supply and/or high demand for affordable housing.
- Funding for new projects will be available under the Affordable Housing Partnership Program, which is expected to launch in Fall 2022.
- Additional redevelopment grants may be available to revitalize, densify, or repurpose existing housing with below-market units.
- Investments will help increase the number of affordable housing units available through mixed-income and/or mixed-use developments using a partnership approach.
The Asset Management Framework provides a renewed solution to delivering affordable housing that will:
- ensure affordable housing is located where the need is highest
- unlock the value of assets to re-invest back into the affordable housing system
- focus government’s role on oversight, funding and partnerships to increase access to housing
- make the affordable housing system increasingly financially sustainable