Funding announced for affordable seniors housing complex in Lethbridge
Photo credit to City of Lethbridge
LETHBRIDGE, AB – A new 64-unit development aims to address the need for affordable seniors housing in Lethbridge.
The mixed-income development will include 32 units with rent set at 20 per cent below market rates and the other 32 at market rental rates.
More than 90 jobs are also estimated to be created.
On Tuesday, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with Josephine Pon, Minister of Seniors and Housing, announced funding for the project.
The governments of Canada and Alberta will be providing about $3.4 million, through the Investment in Affordable Housing Agreement.
The estimated total cost for the project is $12.5 million.
“Lethbridge City Council is thrilled and appreciative of this funding commitment to seniors housing development in our city. Safe and affordable housing for our senior population is of the utmost importance. This partnership is a creative idea and one that will have many benefits to the senior residents of Lethbridge.” – Chris Spearman, Mayor, City of Lethbridge
The Alberta government will work with the City of Lethbridge, housing management body Lethbridge Housing Authority and other contributors to fund the remainder of the project.
Work on the development is expected to begin in early 2021.