The city of Cold Lake is taking steps to address local housing needs by supporting a Local Growth and Sustainability Grant (LGSG) application.
The grant aims to fund vital municipal infrastructure, including roads, water distribution, and stormwater and wastewater collection systems, ensuring urban development standards are met.
If the grant is approved, it will cover 50 percent of the estimated $1.86 million project cost, with the remaining fund provided by the city of Cold Lake. The council resolution passed on December 10, confirms the city’s compliance with grant requirements and advances the initiative.
General manager of Infrastructure Services, Azam Khan, stated that the grant application was submitted before the November 29th deadline but required council approval through a resolution by December 20. The proposed development focuses on two mixed-use residential parcels within the South Outlet Plan, expected to have approximately 84 housing units and accommodate around 218 residents.
Khan explained that the grant is for about $1.86 million with 50 percent funding through Alberta municipal Affairs and the other 50 percent through the city of Cold Lake.
The proposed development aligns with the 2007 Central Area Structure Plan and Cold Lake South Outline Plan, aiming to provide rental and condominium-style housing to meet growing demand. The city hopes to attract local developers while addressing the growing population and fostering economic development in the area.
The development is expected to enhance affordability, build a resilient community, and motivate further growth in Cold Lake South.
