The Alberta Provincial Government released its plan to budget $1.2 billion into a five-year investment towards affordable housing on June 26, 2017. The affordable housing strategy includes rebuilding and fixing current affordable housing structures. Additionally, some of the budget will develop new housing opportunities for 4000 Albertans. Right at Home Housing Society outlines key points that will affect our organization:
Affordable housing strategy to place greater focus on Indigenous culture
The housing strategy focuses on assisting Indigenous tenants in finding affordable housing that is culturally sensitive. We are excited by this prospect, as we continue to partner with Niginan Housing Ventures in the acclaimed Ambrose Place. The operation offers a culturally sensitive space for Indigenous practices. Furthermore, Ambrose Place has been successful in assisting those experiencing poverty to transition from supportive housing needs to independent living. The building is designed to accommodate each spectrum of affordable housing.
Tenants can improve their quality of life through asset gains
Low-income residents were previously limited to a maximum asset value of $7000. This limit would prevent tenants from striving to improve their living situation. They would fear being unable to live at market rent while they were working towards their future goals, such as purchasing a vehicle to improve their career options, or saving towards post-secondary education. The new strategy has greatly increased the limit to allow low-income residents to own assets up to a value of $25 000. Right at Home Housing Society supports this decision, as we share joy in witnessing our tenants progress to a happier lifestyle.
Environmentally Friendly Affordable Housing Strategy
The new affordable housing strategy announced goals to develop more environmentally-friendly homes. A net-zero energy building can be more durable, as seen through the design process of our North Glenora development. Therefore, the building will ultimately incur lower maintenance costs over the long-term. Additionally, with a low utility cost, tenants will need to pay less towards affordable housing accommodations.
We are excited to see how the Alberta Provincial Government assists affordable housing options in the future. Right at Home Housing Society is looking forward to the benefits mentioned over the next five years.