July 25, 2024: Town of Westlock Announces Progress in Addressing Housing Shortages with Funding from CMHC Housing Accelerator Fund

News Release

For Immediate Release

July 25, 2024

Town of Westlock Announces Progress in Addressing Housing Shortages with Funding from CMHC Housing Accelerator Fund

Westlock, AB –The Town of Westlock is happy to announce the approval of a new rental property development located at 9819 105 Street. This 15,000-square-foot vacant lot, situated along Highway 18 and 105 Street, has remained undeveloped since 2011 and is now set for a transformation into stacked row housing featuring eight units, led by TBT Investment Corporation. The property underwent a rezoning to R2 (Medium Density Residential) in 2020, which set the stage for this new development.

We extend a warm welcome to TBT Investment Corporation and New Phase Developments to Westlock and are excited for this project as a tangible step forward in our Housing Action Plan. The $2.5 million project will include four three-bedroom and four one-bedroom units, with onsite parking and garbage collection and is conveniently located providing quick access to downtown, schools, the library, and various services. TBT Investment Corporation acquired this lot through a private land sale on the open market. As part of the Town’s review of this project, the existing infrastructure and services were carefully assessed and confirmed to be capable of supporting this new development. The project has an anticipated completion date of 2025.

“Westlock is committed to addressing the housing needs of our community and fostering reasonable growth.” Simone Wiley, Chief Administrative Officer, Town of Westlock. "By focusing on expanding our community in a thoughtful and sustainable manner, we aim to ensure access to affordable and adequate housing. This commitment supports the well-being of our current residents and attracts new families and businesses, fostering a vibrant and thriving community. Our housing development efforts are designed to ensure long-term positive impacts, including economic growth and improved quality of life for all residents.”

"Working with the community of Westlock has been an incredibly positive experience.” Brian Squires, TBT Investment Corporation “Positive energy builds energy, and we are excited to bring this new housing development to life, contributing to the Town's growth and vibrancy."

WESTLOCK'S HOUSING ACTION PLAN

In response to Westlock Town Council's directive at the July 10, 2023, meeting, we are committed to implementing immediate and long-term housing solutions through a series of initiatives developed by Town administration. The Housing Action Plan consists of several initiatives, including the Residential Development Incentive Program, which offers financial incentives for select housing types in key areas of Westlock. The Secondary, Garden and Garage Suite Program encourages the development of secondary units in high-impact areas, supported by bylaw amendments and targeted financial grants. Additionally, the Aspendale Area Structure Plan will unlock future residential development opportunities in the Aspendale neighbourhood, and the Southview Residential Subdivision Project will integrate new residential lots into an existing community. 

www.westlock.ca/p/housing-accelerator-fund

Media contact:
Simone Wiley, Chief Administrative Officer
Town of Westlock
780-350-2100

Brian Squires
TBT Investment Corporation
587-877-1421

###