The Town of Sylvan Lake is one of six Alberta communities receiving funding from the Government of Canada to address housing challenges.
Under the Housing Accelerator Fund (HAF), Sylvan Lake will receive $5,485,430 to support its Action Plan. This plan commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of Sylvan Lake. The funding will allow the Town to rezone for high density residential, commercial, and mixed-use development. This includes areas of downtown, while also unlocking secondary suites. It aims to give incentives to the public, private, and non-profit sectors to increase the community’s housing supply.
Sylvan Lake Mayor Megan Hanson talked about how important the funding will be to the town.
"I am thrilled that our community has been awarded this support from the Government of Canada through the Housing Accelerator Fund. This significant investment will revolutionize the landscape of housing in Sylvan Lake, not only for the duration of the program but for generations to come. With this incredible support, we can streamline application processes, offer incentives for the development of diverse housing products, and extend assistance to both non-profit and private sector developers in constructing new affordable units."
Hanson went on to say:
"At the heart of all of this is our unwavering belief that everyone deserves a place to call home. This grant will allow us to fulfill this fundamental right for more Sylvan Lakers in the years ahead. Together, we are building a future where secure housing is within reach for all members of our community."
Visit the CMHC website for full details on this announcement.
Fri, Jul 26, 7:00 PM
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