Calgary will receive an additional $22.8 million from Ottawa to support downtown multi-residential housing initiatives after exceeding its targets under the federal Housing Accelerator Fund (HAF).

The federal government announced the extra funding in the days leading up to the ongoing federal election as part of a broader $74-million investment for 27 top-performing HAF communities. The funding is intended to further accelerate housing construction and promote secondary suites.

“Our government is committed to removing barriers and cutting red tape to enable housing development, and this additional funding will help leading communities do just that,” Nathaniel (Nate) Erskine-Smith, the federal housing minister.

Calgary had already received $228 million from the HAF in November 2023 to support its housing strategy. The latest investment will enable the construction of 800 more homes and continue efforts to streamline approvals, increase density near transit, and support non-market housing.

Mayor Jyoti Gondek announced that city will use the additional funds to beef up multi-residential housing in the downtown core and secondary suites in homes across the city.

City officials said Calgary has exceeded many of its original housing targets. As of Feb. 28, the city had already achieved 83% of its 2033 housing goal, with 34,594 of 41,858 units underway.

“We are grateful to the federal government for this continued investment through HAF and rewarding the city’s efforts to increase housing supply, choice, and affordability for all Calgarians,” said Reid Hendry, Calgary’s chief housing officer.

Despite progress, the city noted in a press release, below-market housing remains an area of concern, with only 25% of the local affordable housing target reached.

Pictured: Downtown Calgary from the city’s western side.

Photo: GagliardiPhotography /Shutterstock

supply challenges.”

Join Canada’s leading CRE owners, investors, developers, brokers, financiers, and more at Connect Canada on May 28 at Malaparte in Toronto. Register now to catch forecasts from Canadian CRE leaders on market challenges and opportunities, insights into international investing with evolving market dynamics, the outlook for multifamily housing, and much more. www.ConnectCanada2025.com