The City, as per its affordable housing strategy is selling city owned land, below market rates to developers who build affordable housing.
Non-profit affordable housing providers have been awarded three parcels of City- owned land in the communities of Bowness, Erlton and Parkdale which will create an estimated 100 new affordable homes for Calgarians.
The non-market housing land sale aligns with outcome number one in the recently approved Home is here, The City of Calgary’s Housing Strategy 2024-2030, which is to increase the supply of housing to meet demand and increase affordability. It is a pivotal step in addressing the housing crisis Calgary is currently experiencing.
Land located in Bowness was awarded to Trellis Society for Community Impact, Calgary Dream Centre was awarded land in Erlton, and land located in Parkdale was awarded to Liberty Housing Organization. “To help address the housing crisis, it’s important we create more homes in all neighbourhoods throughout Calgary. That includes increasing the supply of non-market housing,” says Tim Ward, Manager of Housing Solutions. “We are privileged to partner with these three non-profit affordable housing providers to benefit all Calgarians, especially those in greatest need of a safe place to call home.”
The sites were offered at below market value as part of a Council-approved policy to release up to 10 parcels of developable land every two years to increase the capacity of non-profit affordable housing providers. The non-market land sale will help non-profit housing providers spend less capital funds on the acquisition of land which frees them up to invest more dollars in the development of housing for Calgarians.
For more information on this, and what kind of homes are being built, click the link here.