Construction will start soon on a 70-unit apartment building that will feature one-, two- and three-bedroom suites. The new building will include mixed-income units and is expected to be completed by the fall of 2017. It will provide affordable homes for approximately 230 people.
Alberta Jobs Plan in Action
The Government of Alberta will invest $14 million in affordable housing for Parkdale and Capital Region Housing.
“Our government is making significant investments to provide vulnerable families with safe, affordable homes. The investment will move Alberta forward by spurring activity in the construction sector and providing jobs for Albertans.”
The Parkdale development will be operated by Capital Region Housing. The new building is the second phase of the site’s redevelopment plan and will complement the 66-unit apartment building completed in 2013. Old vacant townhouse units were removed to make way for the new building.
“We are pleased to see this kind of key investment in our community as everyone deserves a place to call home. Affordable housing is one of the critical components to ending poverty in Edmonton and we will continue to work with the Government of Alberta, housing providers and community support service providers to ensure these kinds of investments are made."
The new Parkdale development will have a mixed-income approach to ensure the building’s financial sustainability while providing units for low-income families. There are 15,000 Alberta families waiting for units or housing assistance programs. The new units will help reduce wait lists for affordable housing units and programs.
“At Capital Region Housing, HOME is our focus. We welcome the investment in affordable housing and the opportunities to improve the well-being of our children and families in our communities. By combining market, affordable and social housing in one development, we are able to provide social housing in a sustainable way to help families live in a community without the need to move. We are committed to operational sustainability through innovation and stakeholder collaboration.”
- The Government of Alberta will invest nearly $1.2 billion for affordable housing capital projects over the next five years.
- Government owns or supports more than 35,000 housing units throughout the province for low-income families and seniors.
- More than 118,000 Albertans benefit from affordable housing units and programs.
- Capital Region Housing provides affordable homes for 25,000 people in Edmonton and area.
- Social housing units are reserved for low-income families and individuals. Rent is based on 30 per cent of household income.
- Affordable near-market units have rents set at 80 to 90 per cent of the rent in equivalent private market housing.
- Market units have rents set at the same level they would be in equivalent private-market housing.