Rapid Housing Initiative Stream 3 Announcement for Calgary
HomeSpace is proud to take part in this initiative to create more affordable housing to help meet the needs of our city, details via The City of Calgary's news release:
The Governments of Canada, Alberta and the City of Calgary announced combined funding of more than $23 million for Calgary, one of the 41 recipients of the third round of the Rapid Housing Initiative’s (RHI) city stream. This investment is set to help create at least 64 new units across two projects.
Hope Heights is being developed by HomeSpace Society into a four-storey apartment building located at 117 12 Street, in the established community of Crescent Heights just north of Downtown, Calgary. This project includes 35 one-bedroom rental units, with at least 12 units designated for women and/or women and children. Residents will also have access to wrap-around support services on-site. The project received $7.3 million under the Cities Stream of the third round of the RHI3 from the federal government through CMHC, $872,975.00 from the City of Calgary, $2.1 million from the Government of Alberta, and $1.3 million donation from Calgary builder Hopewell. Construction is expected to be completed in fall 2024.
“Calgary has never needed affordable housing more than at this moment. HomeSpace Society is grateful for the collaboration of every level of government and private donors for taking action on the housing crisis and making affordable homes possible for women and children in our city. These 35 units with wrap-around supports represent stability, opportunity, and housing safety for Calgarians in need.” – Bernadette Majdell, CEO HomeSpace Society
Funding for these projects is made possible by the federal government’s additional investment of $1.5 billion through RHI, bringing the program’s total to $4 billion to support those most in need across the country. The additional funding for the third round of RHI is divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream. This additional investment will quickly create more new units of permanent affordable housing across the country for those in severe housing need, or those experiencing, or at imminent risk of homelessness.
Exceeding its initial target, this round of RHI3 is expected to help build over 5,200 new homes in Canada. The total number of homes that will be created with the support of RHI is over 15,500.
Contributions from the Government of Alberta were made through the Affordable Housing Partnership Program (AHPP). This is cost-matched through the Canada – Alberta Bilateral Agreement under the National Housing Strategy.
Funding for these projects is as follows:
• Hope Heights
o $7.4 million in funding through RHI3 Cities Stream
o $872,975.00 from the City of Calgary
o $2.1 million of federal and provincial funding through the Canada – Alberta Bilateral Agreement under the National Housing Strategy (NHS)
o $1.26 million from Calgary builder Hopewell Residential via the former RESOLVE campaign
HomeSpace in the News:
Canada Announces Rapid Housing Funding for Calgary - News Wire
Federal Government Offers $23M to build 2 Calgary Apartment Complexes - CTV Calgary
Two new affordable housing projects, millions in funding for more in Calgary - City News Calgary