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Originally Posted by TorqueDog
I sincerely doubt that the re-zoning is going anywhere no matter who gets in; Calgary has been a top performer in the federal Housing Accelerator Fund and I doubt anyone wants to be responsible for the City losing $22.8m of free federal money to build more housing (and possibly more if the program gets extended, etc.), given the program required the City to implement re-zoning to participate in the first place. |
Perhaps I glanced too quickly but I do not see anything in there that ties the HAF to blanket rezoning.
All the new council would need to do is present a plan that addresses housing needs to keep access to the federal dollars.
One move that would be smart would be for the city to start developing more housing using the Apartment Construction Loan Program.
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The Apartment Construction Loan Program (ACLP) boosts the construction of rental housing by providing low-cost repayable loans to builders and developers. Canada's Housing Plan is making the program even better by:
adding an additional $15 billion in new loan funding, starting in 2025-26, bringing the program's total to over $55 billion
making it easier to use so developers can get more projects done faster
providing $100 million in low-cost loans specifically to build housing above existing shops and businesses
providing $500 million low-cost financing for prefabricated or innovative homebuilding techniques
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The city could build affordable rental properties and partner with a non-profit organization to run the property for the required ~10 years. Then they can go after all of the at grade parking lots downtown to get the land to develop using this money.