Local News
Downtown Edmonton to gain 500 student housing units by 2027
Five new developments in downtown Edmonton will provide approximately 500 student housing units by 2027. The city is allocating $15 million from its housing accelerator fund to ensure the construction of affordable units.
The development projects are part of Edmonton's broader strategy to double the downtown residential population to 24,000. Two of the five projects will be located near a park. City officials emphasize the importance of providing suitable housing options for students as post-secondary institutions expand downtown. Proximity to campuses, libraries, transit, and commercial activities are considered beneficial for students. According to city officials, one in four renter households in Edmonton face housing affordability challenges or live in unsafe conditions. Edmonton's housing accelerator fund totals $192 million, sourced through the Canada Mortgage and Housing Corporation. The $15 million allocation will help address financial barriers to affordable housing.
Key Facts
- Five new developments in downtown Edmonton will offer approximately 500 student housing units.
- Construction on the five projects is expected to be completed by 2027.
- The City of Edmonton will allocate $15 million from its housing accelerator fund for the projects.
- The funding aims to ensure the construction of affordable housing units.
- Two of the five projects will be located close to a park.
- The developments are part of Edmonton's plan to double the downtown residential population to 24,000.
- The city's housing accelerator fund is sourced via the Canada Mortgage and Housing Corporation.
Primary Source
Research Sources
- Edmonton Sun — Five new Downtown Edmonton developments to offer 500 student housing units