City invests $15 million to expand downtown student housing
March 20, 2026
Five new student housing projects with over 550 units will break ground in downtown Edmonton this spring as part of the City’s $15-million Downtown Student Housing Incentive. The program, part of the City’s Housing Accelerator Fund Action Plan, aims to accelerate student housing development while incentivizing new public infrastructure and economic opportunities in the heart of our city.
“A vibrant downtown depends on a thriving student population. These projects are not just addressing a critical housing need but adding new life and growth into our city’s core,” said Mayor Andrew Knack. “This investment will bring over 550 new, purpose-built student housing units downtown, making it more inclusive and accessible for the thousands of students who choose to make Edmonton their home.”
The City’s Housing Accelerator Fund Action Plan was launched in 2024 to increase the supply of housing types that the market may not provide on its own. To qualify for the Downtown Student Housing Incentive, projects had to be designed for students, stay at or below the City’s average monthly rental rates and be reserved for students for at least 10 years.
Edmonton received $192 million in federal funding to support 13 policies aimed at reducing barriers and incentivizing new housing. Expanding student housing also advances the Downtown Action Plan, a five-year roadmap to support growth and investment in the city’s core.
“Building Canada strong starts with investing in the people who will shape the Canada of tomorrow. That means making housing more affordable for students and young people so they can live, learn and build their futures right in the heart of Edmonton,” said the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada. “By supporting new affordable student housing, our government is strengthening downtown Edmonton, expanding opportunity and investing in the next generation of Alberta leaders.”
Downtown Edmonton attracts thousands of post-secondary students attending MacEwan University, Norquest College and other institutions. Although students are vital to downtown vibrancy, they have historically faced significant housing affordability pressures. In a City-led survey of 1,573 post-secondary students last fall, 54 per cent of respondents reported reducing spending on food or other necessities to afford housing.
“The launch of the Downtown Student Housing Incentive and the selection of its first projects sends a strong signal that Edmonton is serious about revitalizing its core,” said Kalen Anderson, CEO of BILD Edmonton Metro. “Housing is foundational to a thriving downtown, and incentives like this help close viability gaps so projects can move forward and pro formas can work in today’s market. By supporting a diverse mix of housing options, this program advances the City’s goal of increasing downtown’s population to 19,000 residents and building a more vibrant, resilient urban centre.”
“Residential growth in our downtown has the potential to create greater vibrancy outside of workday hours, encouraging the development of other amenities like parks, businesses and transit options,” said Alisa Laliberte, Branch Manager of Economic Investment Services. “Two of the five new developments will open out onto the new O-day’min Park, offering their residents direct access to one of the biggest downtown parks in Canada.”
The following projects were selected to receive funding:
The Vantage (10145 106 St.) - 92 student units
Falcon Two (10003 104 St.) - 67 student units
Quarters Student Housing (10316 96 St.) - 150 student units
Warehouse Block (10189 106 St.) - 150 student units
Lilac Park (10154 108 St.) - 108 student units
For more information:
edmonton.ca/BuildDowntown
Media contact:
Courtney Drever
Communications Advisor
Urban Planning and Economy
780-288-5922
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