$20 million to accelerate affordable housing.

Edmonton, AB — Edmonton Community Foundation (ECF) today announced a $20 million affordable housing financing commitment through its Social Enterprise Fund (SEF), alongside more than $1 million annually in grants, to help housing projects move from planning to completion.

In the short term, the initiative aims to support housing for 5,000 Edmontonians by the end of 2028 by accelerating developments, supporting acquisitions, and preserving existing affordable housing stock. Ultimately, the goal is to create new approaches and tools that will ensure the availability of affordable housing in the long-term.

We want to support organizations that have housing expertise through new funding options that will move more projects forward, quicker,” said Tina Thomas, CEO of ECF. “We also want to help build a stronger system for delivering affordable housing over the long-term.”

Addressing Financing Gaps and Sustainability

The funding targets the stages where housing projects most commonly stall, particularly pre-development and bridge phases during construction. It will also be used to help nonprofits explore alternative ways of expanding the availability of affordable housing stock, such as acquisitions and retrofits.

Through SEF, ECF will provide $5–7 million per year in low-interest financing for affordable housing projects. As loans are repaid, the capital will be re-invested into future housing projects, extending the impact of each dollar invested.

Grants that complement social impact investments have already begun, helping accelerate projects toward completion and explore innovative new housing models.

In December 2025, ECF provided $1 million in housing-related grants to 11 organizations building affordable housing throughout the city, including NiGiNan Housing Ventures. NiGiNan’s Plexes development on Fort Road is scheduled for completion this fall and will increase their total number of housing units to 200.

“ECF provided critical funding at a key stage of our fundraising efforts, helping ensure our 28-unit Plexes project could be completed in the best way possible,” said Keri Cardinal, CEO of NiGiNan Housing Ventures. “This project will provide affordable housing to 56 Edmontonians.”

Mobilizing Philanthropy

Alongside the $20 million commitment, ECF and SEF aim to attract up to $10 million in community-based investment by mobilizing the philanthropic sector through collaborative fundraising and community investment opportunities to provide alternative forms of capital..

“Edmonton is growing and meeting that demand requires everyone to pull in the same direction,” said Stuart Kehrig, Director, Housing Action Team, City of Edmonton. “This initiative is exciting because it brings new partners and new capital into the system alongside government investment — that kind of coordination is how we increase supply at the scale our community needs.”

Bringing New Partners Together

As Edmonton’s largest non-governmental funder of the charitable sector ($44.7 million in 2025), ECF is using both its funding tools and community relationships to help connect organizations that might not traditionally work together, including nonprofits, developers, governments, and private investors.

“The alignment of philanthropy, social finance and the private sector is exactly what’s needed to move affordable housing forward at scale,” said Gord Johnston, CEO of Build Edmonton Homes. “This initiative has already changed how complex affordable housing projects come together. Tangible affordable housing partnerships and construction are now underway, that will result in much needed supply of affordable housing to those in need.”

Bree Claude, the CEO of Civida, the largest provider of community and affordable homes in Edmonton, agrees.

“Delivering housing at scale requires coordination across the entire system. ECF is strengthening collaboration between new and existing partners and helping ensure more projects reach completion. We at Civida are thrilled to support this innovation.”

ECF and SEF will share more about the initiative at the upcoming 2026 Prairies Affordable Housing Summit, May 11-14, where housing organizations, governments and industry leaders will gather to discuss long-term housing solutions.

“Edmonton has the people, the expertise and the will,” said Thomas. “We are bringing those pieces together so that more Edmontonians have a place to call home and ensuring that what we’re building today can endure over the long-term.”

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