The federal government is to invest $31 million to build state-of-the-art, affordable, and accessible rental apartments for middle class families in Calgary's city centre.
The Kanas Corporation will build a new high-rise building with 121 units, most of them meeting the City of Calgary’s affordability guidelines with rental rates that will remain affordable for at least the next 10 years.
The building is conveniently located near schools, public transit, and public services, including Glenmore Park and, Rockyview General Hospital.
The design of the 15-storey building will achieve energy savings of 57% and a 100% reduction in greenhouse gas emissions below the requirements of the National Energy Code of Canada for Buildings 2015.
"Everyone deserves a safe and affordable place to call home,” said Prime Minster Justin Trudeau. “Today's announcement will lead to over 120 new, affordable, and accessible apartments for families in Calgary's city centre. This new building will provide people with housing where kids can learn and grow, and where families have the stability and opportunities they need to thrive in their community."
More market update: