The governments of Canada and Alberta have signed a 10-year agreement that will fund community housing projects in the province.
Amarjeet Sohi, minister of Natural Resources, and Lori Sigurdson, minister of Seniors and Housing, announced on Friday that they had reached a bilateral agreement under the National Housing Strategy, according to Canada Mortgage and Housing Corporation.
Starting on April 1, the agreement will invest $678 million to protect, renew and expand social and community housing, and support the province’s priorities related to housing construction, repair and affordability, cost-shared by the federal and provincial governments.
The two governments will also work together on the design and implementation of a new Canada housing benefit for the province to provide affordability support directly to families and individuals in housing need.
“This new agreement means Alberta can continue our bold approach to address the housing needs of Albertans,” Sigurdson said. “We want to make sure that all Albertans have a safe place to call home, close to their families and communities.”
Since November 2015, the federal government has invested almost $510 million in housing in the province.
"Our government will continue working in partnership with Alberta and other provinces and territories towards a 15% expansion in new affordable housing units and renewing 20% of existing community housing units across the country," Sohi said.