Edmonton will be home to 2,500 new affordable housing units by 2010, Mayor Stephen Mandel said yesterday, announcing new 12 projects slated for construction this year.
Through funding by the provincial government and the Cornerstone Plan, construction is already underway on 392 units.
Since its inception in 2006, the Cornerstone Plan has injected more than 1,000 new affordable housing units into the local market.
The 12 new rental projects are designed to house primarily singles, couples and seniors, especially those in the $40,000 per year salary range.
“Let’s be fair,” he said.
“Because $40,000 is a reasonable income, when our housing prices are rising the way they are, we need to find houses for them.”