Real Estate

City Of Edmonton Offers Affordable Housing Grants To Developers

wealthgram
wealthgram
3 Min Read
City Of Edmonton Offers Affordable Housing Grants To Developers

The City of Edmonton is investing up to $20 million in grants to support affordable housing development in 2025, marking the seventh round of funding through its Affordable Housing Investment Program. This initiative aims to accelerate the creation and preservation of affordable homes by providing financial support to non-profit and private-sector developers.

Contents
Grant Funding StreamsGeneral StreamIndigenous Housing StreamEligible Project Types

Since 2019, the Affordable Housing Investment Program has offered financial assistance for both new developments and the rehabilitation of existing units. The City of Edmonton has invested $254 million to date.

The program’s latest round of funding is now open to eligible developers. Applications will be accepted until April 25, 2025. To qualify, applicants for the general stream must have issued Development Permits.

To ensure long-term affordability, successful applicants must commit to maintaining below-market rental rates for 25 to 40 years. In addition to the 25% base funding, projects that provide deep subsidies for priority populations, achieve high energy efficiency standards, or include larger units may qualify for grants covering up to 40% of capital costs. 

Grant Funding Streams

The grant program offers two funding streams.

General Stream

Provides up to 25% of capital costs for new affordable housing developments or significant rehabilitation projects.

Indigenous Housing Stream

Designed to support Indigenous-led housing initiatives, this stream covers up to 25% of capital costs for new or rehabilitated projects. For projects that exceed affordability, energy efficiency, and unit size standards, grants may cover up to 40% of costs.

Eligible Project Types

Under the Affordable Housing Investment Program, various projects may be eligible for funding, ensuring that different housing needs across Edmonton are addressed. This includes affordable near-market rental housing, which provides units at below-market rates for individuals and families who may not qualify for social housing but still face financial challenges. Rent-to-own and affordable homeownership models are also supported, helping moderate-income households transition from renting to ownership by making home purchases more accessible.

The program also funds mixed-income and mixed-use developments incorporating affordable housing alongside market-rate units or commercial spaces. This helps in promoting economically diverse and vibrant communities. Additionally, permanent supportive housing projects are eligible, offering stable housing with on-site services. This is mainly true for individuals who need ongoing support, such as those experiencing chronic homelessness. Lastly, rent-geared-to-income (deep subsidy) housing ensures that rent remains affordable for low-income households by adjusting costs based on income levels.

Share This Article
559 Comments
Lost your password?