CALGARY -- A new five-storey affordable housing building in southwest Calgary is one step closer to fruition following a funding announcement from the federal government.
On Tuesday, Minister of Transport Marc Garneau announced a $24.5 million funding pledge for the Mulberry, a 96-rental unit building that is slated to be constructed in West Springs, near the intersection of Old Banff Coach Road and 77th Street S.W.
"Hard working Canadians deserve an affordable place to call home that meets their needs," said Garneau in a statement released Tuesday morning. "Through Canada’s first National Housing Strategy, our government is taking action to strengthen the middle class and create more housing options in areas across the country that need it most.
"Here in Calgary, the new Mulberry building is going to be a great example of our strategy in action, adding almost a hundred homes to this community."
At least 31 of the either one-bedroom or two-bedroom units will be available for rent at an annual rate that will be less than 30 per cent of Calgary's median household income. The rent cap will remain in place for at least the next 21 years.
