The federal government has partnered with Alberta on an initiative to bolster homebuilding in the province.
The federal government will inject over $510 million into the local infrastructure through the Canada Housing Infrastructure Fund over an eight-year period. The fund will finance efforts to construct or modernize the drinking water, wastewater, stormwater, and solid waste infrastructure needed to build new homes in Alberta.
Alberta will lead the identification and prioritization of eligible projects to be supported by the fund. The province is aiming to construct and support 25,000 more homes by 2031 in response to accelerated population growth bringing in over 600,000 residents in the past five years.
The Alberta government noted that public services and infrastructure has been stretched as a result.
“Strong communities start with the infrastructure to support them. By investing in the water and wastewater systems communities rely on, we’re doing what it takes to build more housing, attract new investment, and keep pace with Alberta’s growth,” said Danielle Smith, Alberta’s premier, in a statement.
The province will invest at least a third of eligible project costs for municipal government-led projects; thus, provincial funding for qualifying projects can reach up to $428 million. Moreover, a minimum of $100 million from the fund – representing 20 percent – will be earmarked for projects in rural and Indigenous communities.
“Alberta's government worked to secure an agreement that aligns with existing water infrastructure programs and protects provincial jurisdiction. With provincial oversight of project selection, we will be able select projects that will meet regional needs and support growing Alberta communities,” said Devin Dreeshen, Alberta’s minister of transportation and economic corridors.
The Alberta government is set to present projects hitting a total of at least $25 million in federal contributions for evaluation and approval by November 30; other projects must be submitted by March 31, 2030.
“Partnering with Alberta, we’re delivering future housing opportunities to help get housing projects off the ground. With programs such as this one, and organisations like Build Canada Homes, we are partnering with governments, builders, and communities to drive innovation in the homebuilding industry and bring the right partners together to build and accelerate the delivery of more affordable homes for Canadians,” said Gregor Robertson, Canada’s housing and infrastructure minister, in a statement.
Last month, the federal government also inked an infrastructure agreement with Quebec.