Projects providing 550 units of downtown student housing get $15M in city funding

Downtown Edmonton will soon have more affordable housing options for post-secondary students.

Work on housing projects in downtown Edmonton that will provide 550 units for students is slated to break ground this spring with help from a city incentive program.

The five projects are receiving funding from the City of Edmonton’s $15-million Downtown Student Housing Incentive, which is part of its Housing Accelerator Fund Action Plan.

The building projects receiving funding through the incentive are the Warehouse Block at 10189 106 St. (150 units), Quarters Student Housing at 10316 96 St. (150 units), Lilac Park at 10154 108 St. (108 units), The Vantage at 10145 106 St. (92 units) and Falcon Two at 10003 104 St. (67 units).

Two of the projects, the Warehouse Block and The Vantage, overlook the new O-day’min Park downtown.

The building projects had to demonstrate they are designed for students, stay at or below the city’s average monthly rental rates and be reserved for students for at least 10 years. The city said the funding for the projects is to be used by November 2027.

The Housing Accelerator Fund Action Plan started two years ago to try to increase the types of housing that the construction market may not build on its own.

The funding comes via the federal Housing Accelerator Fund, from which Edmonton received $192 million.

Homes constructed through the action plan are a combination of multi-unit housing, and transit-oriented, missing middle and non-market affordable housing.