COLD LAKE, ALBERTA. Habitat for Humanity (Habitat) and supporters gathered to celebrate the official start of Habitat’s latest build in the City of Cold Lake. Four single-family homes are under construction by Value Master Homes with a completion anticipated for late summer or early fall. The homes present an opportunity for four families, couples, or singles to become homeowners in an increasingly difficult housing market. Their monthly payments will be affordable and will provide them with the foundation for a promising future.
When the occupants are ready to move on from the Habitat program, they sell their homes back to Habitat and use their equity to buy a home on the open market or for other meaningful life goals. Habitat is proud to partner with the Canadian Mortgage and Housing Corporation, Government of Alberta, City of Cold Lake, and Value Master Homes to complete the homes.
Since 2019, the Government of Canada has made a total funding commitment of $2.8 M through the Affordable Housing Fund under the National Housing Strategy towards Habitat Edmonton projects, including these homes.
“By working with organizations like Habitat for Humanity, we are committed to ensuring that every Canadian has a safe place to call their own,” said the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities. “Today’s announcement is an example of what strong partnerships can do to help build more affordable homes across the country. I wish these families all the best as they prepare for this exciting new journey.”
In March 2023, the Government of Canada and Habitat for Humanity Canada announced an additional $25 million investment to build 500 new affordable homes across Canada over the next three years. This brings the total federal investment in Habitat for Humanity to $80.8 million through the Government of Canada’s Affordable Housing Fund.
The Government of Alberta has been a prominent supporter of Habitat’s program across the province since 2005 and has invested $400,000 in the build at Cold Lake.
“All Albertans, from those living in our biggest cities to our smallest communities, deserve a safe and affordable place to call home,” said the Honourable Jason Nixon, Minister of Seniors, Community and Social Services. “Alberta’s government is proud to support this project and I’d like to thank Habitat for Humanity for helping provide housing for those in-need in Cold Lake.”
The City of Cold Lake had set aside lots to donate to Habitat and will bring the total to six Habitat homes in the community.
“Cold Lake is happy to see the continued success of Habitat for Humanity in our community,” said Mayor Craig Copeland. “Providing affordable housing along with the pride and sense of accomplishment that comes with homeownership builds a strong, inclusive foundation from which our community can continue to grow together without leaving people behind.”
Occupants will be selected closer to the completion of the homes and must meet Habitat’s eligibility requirements, which includes an annual income between $45,000 and $75,000.
“Alongside our partners and supporters, Habitat is addressing the need for affordable housing in Cold Lake,” said Dr. Ann-Marie Reddy, President & CEO, Habitat Edmonton. “Building affordable housing requires substantial capital investment and strong collaboration to address the complex issues of housing affordability. This build is a perfect example of a collaborative approach that will lead to more innovative, sustainable and community centered solutions.”
