The federal government has announced funding for housing initiatives in southern Alberta. (Photo: Jaahnlieb | Dreamstime.com)

By David Opinko

Millions announced for housing initiatives in southern Alberta

Feb 20, 2024 | 8:34 AM

BANFF, AB – The Government of Canada will allot millions of dollars to create more housing in rural communities.

Through the Housing Accelerator Fund (HAF), the government has reached agreements with the Towns of Banff, Sylvan Lake, Bow Island, Westlock, Smoky Lake and the Village of Duchess to fast-track more than 400 homes over the next three years.

Minister of Housing, Infrastructure, and Communities Sean Fraser said, between the six communities, more than $13.8 million will be spent with the goal of eliminating barriers to building housing.

“By working with cities, towns, municipalities, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford,” said Fraser.

In southern Alberta, the housing announcements include:

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• Banff – $4,660,800
  • Five initiatives to enable a variety of housing forms and densities
  • Enable the reduction of parking requirements and update the density intensification policy
• Bow Island – $1,568,000
  • Six initiatives to enable a variety of housing forms and densities
  • Allow the town to update its housing processes by modernizing the land use bylaw to include as-of-right housing, implementing e-permitting software, and regulating secondary and garden suite development
  • The town will encourage missing middle housing through an incentive program and disincentivize idle land
• Duchess – $527,991
  • Six initiatives to enable a variety of housing forms and densities
  • Reduction or elimination of development fees, as well as create tax incentives for developers and amend land use bylaws to allow of missing middle
  • Enable development on unused village-owned land, provide serviced land to affordable housing providers

Banff Mayor Corrie DiManno said the funding they received will go a long way in addressing the community’s housing crisis.

“The funding is a catalyst for Town-led projects, while also perfectly timed with bold new changes to municipal land use rules and incentive initiatives that will encourage more private developers and property owners to create new homes in our community,” said DiManno. “This partnership demonstrates the federal government and the Town are unified in our eagerness to create new homes quickly, desperately needed for the residents who welcome Canadians to our first national park.”

More details on the Housing Accelerator Fund are available on the Canadian Mortgage and Housing Corporation website.

READ MORE: Lethbridge News Now

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