News and Budget

Budget

  • $5,485,430, Funded by the Housing Accelerator Fund
  • Received an additional $540,000 to support housing challenges in Sylvan Lake

Council Approvals


News

Lower number of parking stalls approved by Council, July 8, 2025

On July 8, 2025, Council approved updates to the Land Use Bylaw to lower the number of parking stalls required for new apartment buildings. These changes are active as of July 8:

  • Makes apartment projects more affordable to build
  • Uses land more efficiently.
  • Makes the approval process faster and easier by reducing the need for special parking exceptions.

Learn more:


Town awarded new funding, (Update March 24, 2025)

The Canadian Mortgage and Housing Corporation (CMHC) is awarding the Town with an additional $540,000 to support housing challenges in Sylvan Lake. The funding comes from the CMHC Housing Accelerator funding. Council accepted the funds during a special Council meeting on March 18, 2025.

Why did we get the extra funding?

The extra funding is available thanks to the success of the Town's Housing Accelerator Fund (HAF):

  • The Town made strong progress in meeting the housing targets outlined in our initial HAF agreement
  • The Town is committed to approving more housing units through a new initiative under our Housing Accelerator Action Plan

Progress Updates

  • We'll present a Housing Accelerator Action plan update to Council in April, including a detailed report on the Town's progress in the first year

Learn More


Helping build more homes, faster in Sylvan Lake, (Update February 19, 2024)

The Town of Sylvan Lake is one of six Alberta communities receiving funding from the Government of Canada to address housing challenges.

We've received funding through the Housing Accelerator Fund (HAF) from the Canada Mortgage and Housing Corporation (CMHC) and the Government of Canada. Sylvan Lake will receive $5,485,430 to address housing affordability and challenges within our community. As this project evolves, we'll post details as we begin work on each part of the action plan.

Great! What does this mean?

By receiving the HAF Funding, the Town has committed to implementing the approved Action Plan that includes seven initiatives that will help build more homes faster in Sylvan Lake. The Action Plan’s initiatives include:

  • Providing financial incentives for targeted housing types
  • Streamlining application processes
  • Amending the Land Use Bylaw to increase opportunities for the development of secondary suites
  • Replacing direct control districts supporting diverse types of housing development in our downtown.


"I am thrilled that our community has been awarded this support from the Government of Canada through the Housing Accelerator Fund. This significant investment will revolutionize the landscape of housing in Sylvan Lake, not only for the duration of the program but for generations to come. With this incredible support, we can streamline application processes, offer incentives for the development of diverse housing products, and extend assistance to both non-profit and private sector developers in constructing new affordable units.

At the heart of all of this is our unwavering belief that everyone deserves a place to call home. This grant will allow us to fulfill this fundamental right for more Sylvan Lakers in the years ahead. Together, we are building a future where secure housing is within reach for all members of our community." - Mayor Megan Hanson, Town of Sylvan Lake

Visit the CMHC website for full details on this announcement.



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