The Rocky View Foundation has reached out for more details on the Alberta government’s new Affordable Housing Partnership Program.
Foundation chair Susan Flowers say they intend to apply by the Jan. 11, 2023 deadline in hopes of securing funding to complete their Airdrie project, Abrio Place. She says next they would seek funding for the new Big Hill Lodge in Cochrane.
Announced Dec. 7, the program will provide $55 million for approved partnerships over three years and a minimum of $7 million this year.
The province will provide up to one-third of the total project cost in the form of a capital grant, land or building contribution, and/or transfer or long-term lease of a government-owned asset.
She says the province will be working closely with the Canada Mortgage and Housing Corporation on the program and sharing information, something that didn't occur in the past.
“It sounds like it’s more flexible and has a simplified process,” says Flowers.
She says the timing is ideal for the Airdrie project that is so close to opening its doors. Renovations are required to complete the conversion of Airdrie's former Hamptons Inn & Suites to housing.
“It is a beautiful building, and once we make the deal and get moving it probably won’t take too long.”
It will house upwards of 100 people when completed.
A new lodge for Cochrane is next on their list, and she hopes they'll be able to start zeroing in on it soon.
“We’ll probably get started before the Airdrie project is finished because once it’s in the process, then it won’t be taking as much of our time and we can focus on Cochrane.”
Affordable senior housing fits within its wide-sweeping criteria of providing one-third of the funding for partnerships in providing housing for low-income individuals and families, victims of violence, and those with developmental disabilities, and physical challenges, among others.
Projects can include additions, renovations, conversions, redevelopment, or new construction.