Development

AB

D'Arcy Affordable Housing Townhouses

$4,000,000.00

AB

Non-Market

Urban

10

Westwinds Communities

Housing Provider

DESCRIPTION

Westwinds D'Arcy Affordable Housing Townhouse will focus on underserved low- and modest-income populations, including individuals with physical and developmental disabilities , seniors, single adults and families - who are among the fastest-growing and most marginalized groups in Okotoks. Westwinds Communities is building a three story stacked townhouse development of 10 units. This project features: - 10 town house units, including two barrier free one-bedroom units, three main level two bedroom units and five stacked three bedroom townhouses. - All units contain in suite laundry, resilient flooring, five appliances and on site parking. The building in net zero ready.

DETAILS

Property Id

Phase

Development

Affordability Framework

Proposed rental rates are currently 10% below market rent in Okotoks. We would like to see them be 55% of market rent $850-$1,000 per month.

Target Completion Date

07-01-2026

Total Project Cost

$4,000,000.00

Total Units

10

Affordable Units

10

Populations Served

Women in need

Project Funding

Funding Required

Capital funding up to $1.95M to directly lower rental costs for tenants by up to 40%.

Funds Raised

Town of Okotoks $0.257M, Westwinds $1.7M, CMHC financing pending for $1.95M

Use of funds

Funds will be used for capital development and to off set the need for CMHC financing, which would lower rental costs for tenants by up to 40%.

MAP