COLD LAKE, ALBERTA. Habitat for Humanity Edmonton (Habitat) and its partners were pleased to celebrate a family’s homeownership in Cold Lake. Habitat has served nearly 800 families across northern Alberta find strength, stability, and independence through affordable home ownership. The Habitat home completed in Cold Lake resulted from a partnership with the Government of Alberta, City of Cold Lake, and Value Master Homes.
“We are proud to empower families as they transition from renting home to owning one,” said Dr. Ann-Marie Reddy, President and CEO, Habitat for Humanity Edmonton. “When families gain financial stability, they can begin to focus on other meaningful goals in their lives. We are proud of the many families who have become homeowners through Habitat, and grateful to the partners who have helped make this happen.”
The Government of Alberta’s contribution of $100,000 of provincial grant funding towards the project in Cold Lake has demonstrated their commitment to supporting affordable housing in the province.
“Alberta’s government was proud to support Habitat for Humanity Edmonton as they made the dream of affordable homeownership a reality for this deserving Cold Lake family,” said Josephine Pon, Minister of Seniors and Housing. “This Habitat project is an excellent example of how we can address the diverse housing needs of Albertans by working together across sectors and orders of government.”
Habitat projects are only successful because of community support. The City of Cold Lake has supported a number of Habitat projects in the community, and has made it possible for Habitat to acquire the land for the home.
“The ability for families to afford a house is an important issue that is at the forefront of many people’s minds in communities across Canada,” said Mayor Craig Copeland, City of Cold Lake. “We thank Habitat for Humanity for their dedication to communities both large and small. Habitat for Humanity helps transform the future, not only for the families involved, but also for the communities they call home.”
Habitat Home Ownership is open to Canadian Citizens or Permanent Residents who have a good credit score and an annual household income between $35,000 and $65,000. No cash down payment is required for the home. Homeowners gain access to capped market appreciation with no exposure to market depreciation, pay affordable monthly payments based on 50 percent of the value of the home, and are building equity with each payment.
About Habitat for Humanity Edmonton
Habitat for Humanity Edmonton brings communities together to help families build strength, stability, and independence through affordable home ownership. For more information about Habitat for Humanity Edmonton, visit HFH.org.
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Habitat for Humanity Edmonton