City Council has unanimously approved over $13.2 million for Affordable Housing Incentives to support 18 projects and the end result will be 492 new affordable rental units in Saskatoon. The grants are made possible through the federal government’s Housing Accelerator Fund. Seventeen of the projects also received Council approval for a five-year incremental tax abatement, estimated in total at over $3 million.

Mayor Charlie Clark says,” Saskatoon is facing an affordability crisis. These incentives will help provide housing to families, seniors and students who are being priced out of the current housing market.” He points out that affordable housing keeps people safely housed and off the street but is still a gap with more units needed.

Eligible projects must involve the construction of new affordable rental units, which could be in developments that are all considered affordable housing or in mixed-market developments. The City says affordable housing is for incomes at or below the Saskatchewan Household Income Maximums.