City of Edmonton executive committee recommends student housing incentive

15 million dollars from the federal government will be available for property developers to create student housing downtown.

The city of Edmonton’s executive committee voted to recommend a new affordable housing initiative for students in the downtown core.

The 15 million dollar funding initiative, which comes from the Canada housing accelerator fund, is aimed at building 500 student housing units in the warehouse campus area that surrounds MacEwan and Norquest, and the warehouse park area by Jasper Ave.

University of Alberta vice-president (external) Abdul Abassi and SAMU vice-president (external) Wilfrid Youbi Fansi both spoke in support of the incentive.

“Edmonton is facing a student housing crunch. For years students have struggled to find safe, affordable places to live,” Abassi said. “Rents have increased by hundreds of dollars in the past few years, and housing insecurity is on the rise.”

Abassi mentioned in a University of Alberta survey, about 31 per cent of students are not living in their preferred housing situation, while about a third have faced eviction or displacement. Abassi also noted that the University of Alberta food bank “has increased by 600 per cent over the past five years, and the highest driver behind that is rent increase.”

Youbi Fansi said that students at MacEwan are often forced to pay for expensive, unsafe housing rather than pay for food or textbooks.

“This incentive would allow MacEwan students, along with those attending other downtown institutions, to continue to contribute to the revitalization of Edmonton’s downtown community. I believe students are an integral demographic to Edmonton’s downtown, and safe, affordable housing will allow this group to thrive in the downtown area, rather than being forced to inaccessible units or neighborhoods,” Youbi Fansi said.

While the council deliberated over the initiative, some noted the quick timeline in order to ensure development permits are approved by Fall 2026.

The incentive requires that student housing units meet average market rental rates for at least ten years. While rental prices vary over time, Youbi Fansi noted that according to student survey results, $500 in rent is affordable, with $750 being the most many can afford.