Why is there a need for the program?

Growing city requires range of housing options

The innovative First Place Home Ownership Program is part of Edmonton’s multi-pronged housing strategy to help create a wider range of housing options to address our city’s growing needs.

Helping ensure a range of entry-level home ownership enables to Edmonton to continue to be an attractive city to invest, work and live in.

The First Place Program was created in partnership between the City of Edmonton, the Edmonton Public School Board, the Edmonton Catholic School District and the Government of Alberta to transform 20 vacant surplus school sites into new town homes for qualified homebuyers whose household income places them just out of reach of the first-time homebuyers market.

Edmonton’s economic fundamentals remain solid

Optimistic economic outlook.

As of January, 2009, there is still $72.8 billion in capital projects that are underway, planned or completed in the Edmonton region. (Source: Alberta Finance and Enterprise (February 2009). Monthly Economic Review. P. 17).

Edmonton remains a top city for economic growth and investment as the gateway to Alberta’s oil and gas regions. With continued focus on ensuring diversified skilled labour and knowledge-based sectors in the changing world economy, ensuring a wide range of housing remains a high need for Edmonton’s future. With the second lowest unemployment rate and fifth highest full time employment rate, Edmonton continues to have important economic strengths. (Source: Edmonton’s Economic Future: 2009, EEDC)

Essential for labour attraction and retention

The Program targets employed first time homebuyers with a combined income of less than $88,000. The Program is important for the City’s long term ability to attract and retain a wide variety of skilled workers including but not limited to: teachers, nurses, tradesmen, police, fire response, social workers, recent post-secondary graduates and many in the service and health industry.

For more information about the creation of the First Place Program visit the City of Edmonton’s website: www.edmonton.ca/firsttimebuyers