Province to give Canmore vacant land for affordable housing

The province says it plans to transfer a 2.3-hectare parcel of land to the Town of Canmore for an affordable housing development.

The land is between the Trans-Canada Highway and Palliser Trail, a service road, and is valued at $8.7 million, the province says.

It isn't clear yet how many units will be built. The land will be held for three years while planning and design work gets underway, and it will be transferred once the project is approved.

Speaking at Monday's announcement, Banff-Kananaskis MLA Miranda Rosin said housing is a top concern in the Bow Valleyas a growing number of people from all walks of life grapple with whether they can afford to stay and build a life in the region.

"We need affordable housing in this community both to support our economy and to maintain labour-force retention but also just to build a strong community that can last generations," said Rosin.

Canmore's deputy mayor, Tanya Foubert, echoed that point. She notedthe region's long-term economic future will depend on whether businesses canhang on to workers, which will depend, in turn, on whether those workers have anywhere to live.

"Last night, I got a call from a friend who is leaving town and leaving a really good job because their rent went up $550," said Foubert, who spoke with CBC News after the announcement.

"Every year it gets harder to afford to live here."

According to the most recent data available throughthe Job Resource Centre, which operates in Banff and Canmore, the average price for a bachelor apartment in Canmorewas $1,235 and a one-bedroom was $2,123.

Jeremy Nixon, minister of Seniors, Community and Social Services, who was in Canmore for the announcement, said the project is part of the province's plan to build affordable housing for an additional 25,000 households by 2031.

Asked about the timing of Monday's announcement, six weeks before the provincial election, Nixon said the two events were unrelated.