Edmonton approves funding for downtown student housing

The City of Edmonton has approved the use of $15M in federal funds to create housing in its downtown core, the Edmonton Journal reports. The funding comes from the Government of Canada’s Housing Accelerator Fund and is expected to give developers grants of up to $30K per unit built. Abdul Abbasi, VP external for the University of Alberta Students’ Union, strongly supported the move. “These projects will reduce vacant lands and transform underdeveloped lots into lively populated areas,” said Abbasi. Students’ Association of MacEwan University VP Wilfrid Youbi Fansi expressed concern about the funding requirement that eligible units must maintain market-rate rents, stating that students can only afford monthly rents between $500-$750.