A new 64-unit development addresses the need for affordable seniors housing in Lethbridge. The mixed-income development will include 32 units with rent set at 20 per cent below market rates and the other 32 at market rental rates. More than 90 jobs will be created.
Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC) Ahmed Hussen, and Seniors and Housing Minister Josephine Pon announced funding for the project.
The governments of Alberta and Canada will provide about $3.4 million, through the Investment in Affordable Housing Agreement.
“Every Canadian deserves a safe and affordable place to call home. Investments, like this one here in Lethbridge, demonstrate that our government is committed to helping create new jobs and stimulate the economy, while providing access to safe, affordable homes for Canadian seniors.”
“As part of Alberta’s Recovery Plan, we are investing in projects just like this to create jobs right now and build what we need for the future. It is critical that we work closely with the city and housing providers to understand local housing needs and move forward with developments like this one. A public-private partnership approach will ensure a more cost-effective approach for Albertans.”
“I am extremely thankful that Alberta’s government and the Government of Canada are taking leadership in providing mixed-income housing for seniors in Lethbridge. This is an exciting initiative because this is an example of how Alberta’s Recovery Plan is helping those in Lethbridge who need it most. This public-private partnership will fully leverage every available dollar to maximize this project, as well as create new jobs and more units than a conventional approach.”
“Lethbridge city council is thrilled and appreciative of this funding commitment to seniors housing development in our city. Safe and affordable housing for our senior population is of the utmost importance. This partnership is a creative idea and one that will have many benefits to the senior residents of Lethbridge.”
“Lethbridge Housing Authority is grateful for the support from the federal and provincial governments with their investment in mixed-market seniors housing in Lethbridge. Our new 64-unit cottage-style project will provide seniors with safe, affordable, barrier-free living while addressing social isolation by providing a pet-friendly property with outdoor common space and walking paths. We look forward to beginning this project in early 2021.”
The estimated total cost for the project is $12.5 million. The Alberta government will work with the City of Lethbridge, housing management body Lethbridge Housing Authority and other contributors to fund the remainder of the project.
Alberta’s Recovery Plan is a bold, ambitious long-term strategy to build, diversify, and create tens of thousands of jobs now. By building schools, roads and other core infrastructure we are benefiting our communities. By diversifying our economy and attracting investment with Canada’s most competitive tax environment, we are putting Alberta on a path for a generation of growth.
- Since 2011 and to March 2019, most of the federal funding for affordable housing has been provided through the Investment in Affordable Housing (IAH).
- Under the Investment in Affordable Housing, provinces and territories are responsible for choosing the programs they design and deliver, and also have the flexibility to invest in a range of affordable housing programs to meet local needs and pressures.
- The Government of Canada is currently rolling out its National Housing Strategy, an ambitious 10-year, $55-billion plan that will create 125,000 new housing units and lift 530,000 families out of housing need, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 per cent.
- The National Housing Strategy is built on strong partnerships between federal, provincial, and territorial governments, and ongoing engagement with others, including municipalities, Indigenous governments and organizations, and the social and private sectors to make a meaningful difference in the lives of Canadians.
The Alberta Ministry of Seniors and Housing fosters the development of affordable housing and supports access to housing options for Albertans most in need. The ministry works with seniors, their families and caregivers, Albertans who require housing supports and communities and other government partners. A more detailed description of the ministry and its programs and initiatives can be found at alberta.ca/seniors-and-housing.aspx.
Learn more about Alberta’s affordable housing programs.
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Editor's note: This news release was also issued by the Canada Mortgage and Housing Corporation on Dec. 8, 2020.