- STOREYS.COM - A La Une - Hier 19:53

Edmonton Introduces $15M Downtown Student Housing Incentive Program

Downtown Edmonton hosts thousands of post-secondary students, so to support their success as well as the revitalization of the downtown core, the City of Edmonton is introducing a new Downtown Student Housing Incentive program. It's the first program of its kind in Canada, according to the City."The Program has two main priorities: increasing downtown revitalization and off-campus student housing," said City staff in a Council report. "Projects will be prioritized for funding based on alignment with the program priorities and objectives, as well as how well projects meet the program criteria."The Downtown Student Housing Incentive is a straightforward program that provides up to $30,000 per unit of student housing, although projects have to meet a set of eligibility criteria. The biggest requirement is that the project must be located within the City Centre node (red, in the map below), with preference given to projects within the City-defined priority area (yellow) of the downtown core (black outline).Among other requirements, the construction cost of the project must exceed $10 million, it must provide between 10 and 150 student housing units, and the units must be reserved for students for at least 10 years. Projects will also ideally be designed for students and be provided at affordable rents (the full set of criteria can be found here). The program priority area (yellow) within the downtown core (black outline) and the City Centre node (red). / City of EdmontonIf an application is deemed successful, the developer and the City of Edmonton will then enter into a funding agreement outling how grants are calculated and paid. Funding is limited and allocated by the CMHC to the City of Edmonton, which will then disperse the funds on a four-installment basis: 30% upon development permit issuance, 30% upon building permit issuance, 30% upon construction commencing (foundation), and 10% upon completion. The City notes that CMHC is requiring that all eligible projects must have building permits issued by November 9, 2026, which means building permit applications must be received by no later than September 2026.The City of Edmonton will also have set intake periods for applications, with the first round closing on September 30, 2025 and the second round closing on December 31, 2025. A third round, if necessary, would close on March 31, 2026. Each round will be followed by a evaluation period where the selection committee assesses the applications. The Downtown Student Housing Incentive program will be launching with $15 million — funded via the Housing Accelerator Fund — and will be closed should all available funding be allocated."The development of student housing in the downtown core directly supports the City of Edmonton’s goal of building an inclusive city where everyone, regardless of background, can access safety, stability and the opportunity to thrive," said City in the council report. "For students, especially those relocating to Edmonton, access to appropriate housing is foundational to academic success, well-being and long-term community integration. Purpose-built student housing helps meet this need by offering a stable alternative to overcrowded, unsafe or unaffordable options, which disproportionately impact equity-deserving populations.""Housing insecurity presents a barrier to many individuals who may lack employment history, local references or sufficient financial resources," City staff added. "These barriers often compel students, particularly those who are Indigenous, newcomers, low-income or from equity-seeking backgrounds, to accept living arrangements that do not meet basic standards of safety, stability or suitability. According to Statistics Canada, households are considered in 'core housing need' when they lack access to adequate or suitable housing and must spend more than 30 per cent of their income on alternatives that meet those criteria. This definition frequently applies to students, who often fall into low-income categories and struggle to find appropriate accommodations near their place of study."The Downtown Student Housing Incentive was approved by Edmonton City Council on August 19.