All Albertans deserve a safe place to call home. To continue building capacity within the affordable housing system, Alberta’s government is continuing to invest in affordable housing through an $840-million investment over the next three years.
“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.”
More than $400 million would support innovative and sustainable housing projects through the Affordable Housing Partnership Program over three years. These housing projects are in addition to the 28 projects approved through the program in 2023. The program is also an important part of the overall implementation of the government’s Stronger Foundations housing strategy, which will see a dedicated $91 million over three years.
“Civida is proud to work alongside the Government of Alberta as it makes critically important investments into affordable housing across the province. Through this funding and supporting initiatives, many thousands of Albertans will have access to updated, affordable homes, and more vibrant, inclusive communities, today and for many years in the future.”
The province’s Indigenous Housing Capital Program would receive $75 million over three years to continue building homes for Indigenous people, off-reserve, off-settlement, and on-settlement. Since 2020, 20 projects have resulted in 378 new units being built all across the province.
“The Province of Alberta’s investment in expanding shelter capacity and support of Indigenous-led shelter operations is vital to Blood Tribe Department of Health being able to help our most vulnerable towards a path of healing the whole being. Dignity, respect and connection to Siksikaitsitapiipaitapiiyssin is essential to the healing journey and to helping our members call their spirit back.”
Additionally, the total funding includes $121 million over three years in capital maintenance and renewal funding to preserve existing affordable housing and approximately $130 million over three years for seniors housing development and renewal. With numerous projects already underway across the province, the Budget 2024 capital plan includes $18 million to complete current affordable and specialized housing projects.
“We would like to commend Minister Nixon and his government for understanding how critical this issue is and for taking decisive action. Seniors are disproportionally impacted by the current housing challenges, with a lack of options that support aging and many who are on a fixed income, so we are happy to see that a significant portion of this funding is committed to supporting housing options for this financially vulnerable and growing portion of our community. Silvera has shovel ready projects and with the right funding investments can deliver additional much needed housing.”
Since 2019, 5,000 new affordable housing units have been completed or are in progress, and rent support has been expanded to an additional 2,313 households. Stronger Foundations, Alberta’s 10-year affordable housing strategy, will support a total of 82,000 households by 2031, which represents an increase of 25,000 households, or 40 per cent.
"The 2024 Capital Plan aims to improve housing accessibility by lowering costs and boosting housing supply. Removing barriers to increasing housing inventory, whether for sale, rental, or below-market, will further enhance construction levels and establish a sustainable framework for affordable housing in Alberta"
“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.”
Budget 2024 is a responsible plan to strengthen health care and education, build safe and supportive communities, manage the province’s resources wisely and promote job creation to continue to build Alberta’s competitive advantage.
Related information
Related news
- Budget 2024: A responsible plan for a growing province (Feb. 29,2024)
- Budget 2024: Putting Albertans and Alberta families first (Feb. 29, 2024)
- Budget 2024: Maintaining Alberta’s economic advantage (Feb. 29, 2024)