Camrose homeowners are being offered a plum of sorts to encourage them to add suites to their properties.
The civic government in the east-central Alberta service hub of 17,000 is offering subsidies of up to $15,000 per unit for the creation of suites, which will be subject to a five-year operating agreement with the city. That agreement will specify rent maximums based on what’s known as a core need income threshold rate for the city.
The city will cover 70 per cent of the cost of eligible suite projects up to the $15,000-per-unit cost.
The cash can also be used to renovate existing suites to bring them up to building code.
Camrose, roughly an hour southeast of Edmonton, experiences a mix of housing pressures resulting not only from its status as a service centre, but also as a growing university community. It’s home to University of Alberta’s Augustana Campus, which was formerly Augustana University.
August, 2010
