Student Housing Accelerator

[The_Cat]

'Great legacy for our Downtown': Edmonton eyeing Canada’s first Downtown student housing incentive

Edmonton is poised to launch a program aimed at addressing the shortage of affordable student housing while revitalizing its downtown core.

edmontonjournal.com

 

[bodsbods9090]

Sounds like there's some momentum behind this with projects ready to go if all goes ahead.

 

[The_Cat]

I think this part of downtown is perfect for student housing.

 

[CplKlinger]

Sounds like there's some momentum behind this with projects ready to go if all goes ahead.

It'll be exciting to watch this develop; even if each unit only had one resident, that'd still mean another 500 more people shopping downtown, 500 more sets of eyes on the streets, and 500 more people giving the area some vibrancy in the evenings and weekends—something downtown was sorely lacking even before Covid (when I lived near the legislature I dreamed of having a small coffee shop open outside of 9-5 Monday to Friday so that I didn't have to support the chains).

 

[Kosy123]

It’s also the vibrancy we want or need. As much as more office workers milling about is good for daytime foot traffic, the way forward for downtown is really going to emulate Vancouver, where there’s a larger residential share of the pie. I’ve been banging on about the student potential of downtown so I’m super happy to see this and hope it gets expanded.

If you want a second Whyte Ave/Strathcona in the core, this is what’s going to bring it or at least create the necessary conditions for it to start.

So much better than an office to residential grant imo.

 

[The_Cat]

At least Jasper and 104 Street are only a couple of blocks away.

 

[Gronk!]

City council passes downtown student housing initiative

City council unanimously passed a downtown student housing initiative Tuesday in hopes of kick-starting developments in the heart of Edmonton.

www.ctvnews.ca

 

[bodsbods9090]

So does this mean we will start to see some proposals soon?

Paging @IanO @Avenuer @wormwood and anyone else tied to the industry

 

[MacLac]

So does this mean we will start to see some proposals soon?

Paging @IanO @Avenuer and anyone else tied to the industry

@wormwood is an OG as well…..

 

[IanO]

 

[VaultBoy]

It's pretty excitiing to read that list of Eligibility Criteria.

- Student units must meet rental requirements - lower than or equal to average monthly rental rate (AMRR) as published by the City - Preference will be given to projects that are below the AMRR.

- Complex site-specific constraints. Projects must be able to meet the aggressive timeline

Is there a chance we get some beautiful projects on par with Laurent/Eleanor with this?

 

[Gus Haynes]

Round 1 of the application intake period closes Sept. 30, with the second round closing on Dec. 31. If there is a third round needed, it will close on March 31. The structure, time-sensitive process aims to ensure timely project delivery in alignment with the HAF.

Ward Dene Coun. Aaron Paquette said he knows of one developer who is “shovel-ready.”

“The first awards will be sometime in the next six to seven weeks,” Paquette told reporters after the council meeting. “By the end of September, we could see activity really quick.”

 

[archited]

It is good to see downtown being recognized for its potential in terms of post-secondary student population. I have been beating this drum for years now. Edmonton has several downtown activators which are not nearly close to reaching full value -- Students make up an important one. Government, Sports & Entertainment, and a blossoming Cultural Centre are three others... the momentum is there!

 

[Kosy123]

"Preference will be given to projects where the funding is shown to catalyze additional housing unit growth"

Does this mean possible mixed market housing/student housing projects? Because if so, that pushes the possible units that this incentive creates past the estimated 500 student housing units.

 

[archited]

^ Yes, in fact that is written into the pro forma -- the City recognizing that complementary lifestyles are a plus, not a minus.