Building More Than Homes

Affordable housing is one of Edmonton’s most urgent and complex challenges. According to the City of Edmonton’s 2023-2026 Affordable Housing Strategy, over 46,155 households, or nearly one in eight, are spending more than 30 per cent of their income on rent. Behind that number are families struggling to make ends meet: people choosing between rent and groceries, and children growing up in overcrowded spaces.

Housing is more than shelter. It is the foundation for stability, opportunity and belonging. Without it, outcomes in health, education and employment are compromised. While governments at every level are investing in solutions, the scale of the need calls for coordinated, cross-sector action and new tools to accelerate progress.

That is where Edmonton Community Foundation’s (ECF) Affordable Housing Initiatives come in. By aligning grants with social financing through the Social Enterprise Fund (SEF), supporting coordinated fundraising and land activation through the Edmonton Community Development Company (ECDC), ECF is building a comprehensive approach to increase supply and strengthen the affordable housing sector. Between 2026 and 2028, the plan aims to support affordable housing for 5,000 Edmontonians.

But how will this work in practice, and what role will SEF play in helping move the dial? We sat down with Ryan Young, Executive Director of SEF and ECDC, to learn more.

Q&A

Edmonton Community Foundation (ECF): How and why did SEF identify affordable housing as a priority?

Ryan Young (RY): Affordable housing sits at the intersection of so many social issues. When people don’t have stable housing, everything else becomes harder — employment, education, health. We saw a clear gap where social financing could help unlock stalled projects. This is an area where thoughtful, strategic capital can fill critical gaps and help viable projects move forward. It’s not just about waiting for change but rather structuring the right financing at the right time to shift trajectories for families and for the city.

ECF: What role will SEF play in the affordable housing space?

RY: We see two roles. First, we’re a convener, bringing together sector leaders, developers, funders and governments to align efforts. Second, we’re a financier. We’ll deploy capital strategically at critical stages to help viable projects move forward.

ECF: What kind of projects will SEF support?

RY: We’re focused on three things: Increasing the supply of affordable housing, unlocking new opportunities for private and philanthropic involvement, and implementing new financing models. This will allow us to focus on two pressure points — pre-development and construction. Early-stage funding for things like feasibility work, design, permitting and approvals can be hard to secure, even for strong projects. That’s where we can step in by providing thoughtful, gap-filling capital that helps projects move forward. We’re also interested in innovative partnerships that leverage private capital and the knowledge of experienced builders, developers and community partners to strengthen deals and increase the number of homes that get delivered.

ECF: How are you defining affordable housing?

RY: For us, it means permanent, long-term housing — not temporary or transitional units. We’re focused on developments that will remain affordable and accessible for the people and families who need them most.

ECF: What does success look like?

RY: Success is more units built, acquired or retained, with more capital flowing into the sector. But ultimately, it’s about people and families who have a safe, stable place to call home. It is our goal to house 5,000 people over the next few years.

ECF: What are the next steps?

RY: We have already been investing in affordable housing for some time and continue to approve opportunities as they arise. We are working with many partners in the non-profit sector, developers, builders and different levels of government to create an even bigger impact. It’s an exciting step forward in mobilizing capital and partnerships to accelerate affordable housing in Edmonton. And there will be more to come.

Read more about SEF & ECF’s $20 million affordable housing commitment.