Calgary Secures $64M Housing Fund, Eyes Local Plans

0:00It's April 22nd. This is Calgary News Today, local news powered by AI. Calgary is about to pocket its third installment from the Federal Housing Accelerator Fund, a hefty $64.7 million since the city is still in line with the agreement. This cash is heading their way in the coming days, boosting efforts to crank out more homes. The good timing comes right after City Council repealed the blanket-resoning policy, but that change doesn't kick in until August 4th, so they've... Technically stayed compliant for now. The fourth and final payment, due around 2027, hangs in the balance based on future moves. Mayor Jerome Farcus calls it a big vote of confidence from Ottawa, highlighting how Calgary's built over 61,000 homes since 20. 23, with prior funds backing nearly 13,000 market units and 1,500 non-market ones. He pushes for a targeted homegrown strategy over one size fits all rules. For that last payout, Feds want a replacement zoning plan, allowing at least four units

1:03on a significant majority of city lots, locked in by October 27th to 2026. Critics like those for more neighbors Calgary say it's time to honor promises and cut exclusionary zoning no matter the money. Calgary's housing team is deploying the approved funds into everything from market builds to infrastructure like burying power lines with a strategy. Update hitting council May 6th. Farcus is eyeing more local area plans to hit those targets without forcing blanket changes, sparking debates on what's best for growth.