$83 Million Investment to Add 204 Affordable Homes in Downtown Calgary
The federal government, in collaboration with the City of Calgary and other partners, has announced an $83 million investment to transform an existing office building at 800 6 Avenue Southwest into 204 affordable homes. This significant initiative is a key component of Canada's broader strategy under Budget 2025 and the Affordable Housing Fund, aimed at addressing the national housing crisis by increasing housing availability.
Calgary faces a substantial deficit in affordable housing, with an estimated 84,000 households struggling with shelter costs and nearly 42,000 at risk of homelessness. The city requires 2,000 to 2,500 new affordable housing units annually to keep pace with demand. This project aligns with Calgary's Downtown Development Incentive Program, which has seen 21 office conversion projects approved to date, revitalizing underutilized spaces and earning the city international recognition for its innovative approach.
The new residences will feature modern, accessible designs, complemented by crucial on-site support services from the Carya Society of Calgary, including mental health programs and financial counseling. Corey Hogan, MP for Calgary Confederation, emphasized the project's importance in building stronger, more resilient communities. This conversion demonstrates the effectiveness of public-private partnerships in delivering much-needed housing solutions and contributing to a more vibrant downtown for Calgarians.
