Summary:
- Edmonton will begin construction on five new student housing projects this spring, adding over 550 purpose-built units downtown through the City’s $15-million Downtown Student Housing Incentive, part of its Housing Accelerator Fund Action Plan launched in 2024.
- The incentive requires projects to offer affordable rents at or below the city average and reserve units for students for at least 10 years, addressing critical housing affordability challenges highlighted by a recent survey where 54% of students reported cutting essential expenses to afford housing.
- Supported by $192 million in federal funding, these developments align with Edmonton’s Downtown Action Plan to boost population and economic activity in the core, with two projects providing direct access to O-day’min Park, enhancing livability and urban vibrancy.
Original article:
https://www.renewcanada.net/edmonton-invests-15m-to-expand-downtown-student-housing/
