Provincial funding was granted last Friday for a $2.5 million 16-unit housing complex in Innisfail intended to help lessen homelessness and the marginally-housed.
The Clay Cup Foundation, headed by Didsbury CIR realtor James Carpenter, was approved recently for approximately $3.3 million in provincial grants for two projects, one in Innisfail and one in Sundre, through the 2010/2011 Housing Capital Initiatives program.
Provincial officials announced Friday that the government had approved over $91 million for projects in 13 Alberta communities through the latest round of program supports aimed at reducing homelessness and those who are marginally housed.
"Our strategy enables more Albertans in need to have a roof over their heads," said Jonathan Denis, Minister of Housing and Urban Affairs. "The competitive grant process provides good value for taxpayers' dollars and ensures Albertans most in need have a safe and stable place to live."
Carpenter made two separate proposals in the granting process - for a combined construction cost of approximately $5.1 million.
The recent grant approval means the provincial government will contribute approximately $1.6 million of the $2.5 million Innisfail build, and $1.7 million of the $2.6 million Sundre build.
The Didsbury businessman was surprised when contacted by the Province Friday shortly after the announcement was made and told the projects had been approved for funding.
"I'm ecstatic," said Carpenter from Madrid, Spain where he is vacationing. "I'm excited for the communities. It's going to bring work into the economies and meet the high needs for affordable housing."
Both the Innisfail and Sundre projects are similar in scope, he said.
The approved projects are for a 16-unit affordable housing complex in each town - four units will be handicapped accessible, four will be two bedroom suites, and eight will be one bedroom suites.
After assessing the Central Alberta market, he saw the greatest need for more affordable housing in Innisfail and Sundre, he said.
"We assessed Innisfail as high needs because of the pressure in the corridor and being near Red Deer," he said.
He said Sundre is experiencing affordable housing issues due to oil and gas activity in the area.
To qualify for the affordable housing funding, the apartment units in each must be provided for at least 10 per cent below market rents, said Carpenter.
Both Sundre and Innisfail municipal councils backed Carpenter's bid last fall and issued letters of support for the application for grant funding.
Sites for the housing complexes have not been chosen yet.
Carpenter said he hopes to break ground on both projects by the fall.
He said The Clay Cup Foundation will also be taking over a similar affordable housing project in Didsbury's Valarosa subdivision which has been started through Harvest Builders.
