Today, The City of Calgary announced the seven successful non-profit applicants whose affordable housing projects have been selected to receive funding from round one of the Housing Capital Initiative (HCI). An action from The City’s Home is Here: Housing Strategy, the HCI fund is intended to increase affordable, non-market housing supply in Calgary by delivering timely investment in housing projects that meet key financial and operational criteria.
With an estimated investment of $30.7M in this round, the HCI will support the delivery of approximately 480 non-market homes for Calgarians comprising a range of project types. Subsequent rounds of the HCI program will continue later this year to deliver the total capital investment of up to $60M.
“City Council made a clear commitment to address Calgary’s housing crisis, and this investment is one of the many actions we’re taking to deliver on that promise,” says Mayor Jyoti Gondek. “The Housing Capital Initiative will bring real results to Calgarians who need housing now—not years from now.”
The successful round one applicant projects are:
- Silvera for Seniors, 149 Livingston Hill NE ($1,878,260 awarded)
- Liberty Housing Organization, 3416 3 Ave NW ($974,368 awarded)
- HomeSpace, 3505 35 St NE & 3510 34 St NE ($7,300,000 awarded)
- Attainable Homes Calgary, 1007 6 Ave SW ($5,500,000 awarded)
- Metis Calgary Family Services, 15-19 Erin Woods Dr SE ($6,019,900 awarded)
- Calgary Heritage Housing, 3400 Spruce Dr SW ($5,640,000 awarded)
- Victory Foundation, 1825 50 St SE ($3,393,542 awarded)
“The City would like to congratulate the successful applicants from Round One of the HCI,” says Chief Housing Officer Reid Hendry. “This funding will be used by our partners to leverage capital funding from other orders of government to support the creation of new non-market housing for Calgarians. Everyone deserves a safe, stable and affordable place to call home.”
The City has initiated 85 per cent of the 98 actions of the Home is Here: Housing Strategy, which was passed by City Council in Sept. 2023.
Learn more about the Housing Capital Initiative at Housing Capital Initiative (HCI).
