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Habitat for Humanity breaks ground on new homes in Olds

Posted by Habitat Admin on Jul 6, 2017 10:03:43 AM


Duplex in Olds will provide affordable home ownership opportunities for two local families

olds, AB, june 28, 2017 

Habitat for Humanity Southern Alberta’s Mountain View Chapter officially broke ground on its 10th and 11th homes with a new duplex in the Town of Olds. The duplex will be located at 4826 52 St in Olds, AB, and will provide two local families with the opportunity to build strength, stability and independence through affordable home ownership.

“At Habitat for Humanity, we know first-hand that many families are facing significant challenges breaking into the housing market,” said Gerrad Oishi, Habitat for Humanity Southern Alberta President and CEO. “But when families feel safe and secure in a home they can call their own, everyone benefits. We are so grateful for the tremendous community support we’ve received from Mountain View County and the Town of Olds, and we’re looking forward to the difference we will make for families together.”

The land for this project was generously donated by the Town of Olds. Mayor Judy Dahl, and Nathan Cooper, MLA Olds-Didsbury-Three Hills, were in attendance at the groundbreaking to bring greetings and offer their support.

“This project was four years in the making,” said Mayor Dahl. “This wouldn’t have been possible without the support of the people here today.”

ATB Financial has been a significant supporter of Habitat for Humanity Southern Alberta, and is a generous sponsor of these homes in Olds.

“Not only is ATB happy to make a financial contribution to this build, but our team members are looking to the hands-on work of volunteering at the site,” said ATB’s Managing Director of Corporate Social Responsibility and Community Investment Sandra Huculak. “Habitat for Humanity’s work in creating more affordable housing options in Olds is both needed and inspiring.”

Each future homeowner will contribute 500 volunteer hours as part of their partnership with Habitat, and then purchase their homes through Habitat’s affordable mortgage. This means that mortgage payments will be geared toward each families’ income and will never exceed 30 per cent of their total household income. An affordable mortgage gives parents financial flexibility and the ability to build long-term stability for their children.

Construction on these homes will begin at the end of June and is expected to be complete in late 2017.


Topics: Mountain View, Event, Olds, Groundbreaking

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